Engie Hikes Wind, Solar Spending, Faces Down Russia on Gas Payments

May 18, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Engie S.A. (Paris, France) is accelerating its development of renewable energy in the U.S. and Canada, as it wrestles with Russia's influence over European energy markets at home. Altogether, renewables account for 87% of Engie's 4.5 gigawatts (GW) of power generation in the U.S. and Canada, and the company expects that percentage to grow with the upcoming addition of major projects in Texas, Virginia and New Mexico.

Engie's North American business recently began operations at a major Texas windfarm, with turbines provided by General Electric (NYSE:GE), and is seeking permits for another, which would use turbines provided by Nordex SE. Engie's U.S. solar business was bolstered significantly by its acquisition of Photosol, an owner and operator of solar plants and battery energy-storage systems (BESS), and Engie is developing two solar projects of its own in Virginia.

Industrial Info is tracking more than $38 billion worth of active Engie projects worldwide, including more than $4 billion worth in the U.S. and Canada.