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Released May 18, 2022 | SUGAR LAND
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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. 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.
Click on the image at right for a graph detailing Engie's active projects in the U.S. and Canada, by state or province.
Engie's North American business recently began operations at its Priddy Wind Project in Priddy, Texas, which generates about 300 megawatts (MW) from 63 turbines provided by General Electric (NYSE:GE) (Boston, Massachusetts). Engie is seeking permits for another 300-MW project, the Limestone Windfarm in Groesbeck, Texas, which would use 110 turbines provided by Nordex SE (Rostock, Germany). The Limestone project would be located near Engie's 300-MW Prairie Hill Windfarm, which began operations in April 2021.
Wind makes up 3.2 GW of Engie's 4.5 GW of power generation in the U.S. and Canada, while solar and natural gas each account for about 0.7 GW. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed reports on the Priddy Wind, Limestone and Prairie Hill projects.
One of Engie's most ambitious wind energy ventures is the Mayflower Wind project, offshore Massachusetts, which it is developing through Ocean Winds, a 50:50 joint venture with EDP Renewables North America (Houston, Texas); the project itself is a 50:50 venture between Ocean Winds and Shell plc (NYSE:SHEL) (London, England). The companies involved started developing the federal lease area for Mayflower Wind, which they estimate could generate up to 2,000 MW, in December, after securing a 400-MW power purchase agreement (PPA) in December.
The 400-MW PPA follows an 804-MW PPA announced in 2019, for a total secured capacity of more than 1,200 MW. A final investment decision on Mayflower Wind has yet to be made, but Engie and its partners believe operations could begin in the mid-2020s. Subscribers can learn more from Industrial Info's project report.
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). One of Photosol's largest active projects in is the San Juan Solar Farm in Kirtland, New Mexico, which includes a pair of solar units, each 225 MW, and a pair of BESS units, each 100 MW. The first solar unit is set to wrap up by the end of this year, with the remaining units to be completed by mid-2023, according to current projections. Subscribers can read Industrial Info's project reports on Unit 1's solar and BESS components, and Unit 2's solar and BESS components.
Two solar projects under construction from Engie's North American business are found in Virginia: the $81.6 million Sunnybrook Solar Plant in Scottsburg, which generates 51 MW from 180,000 photovoltaic (PV) panels, and the $66 million Powell's Creek Solar Plant in Alton, which generates 70 MW from 176,000 PV panels. In both cases, the PV panels are provided by Canadian Solar Incorporated (NASDAQ:CSIQ) (Guelph, Ontario). Subscribers can read detailed reports on the Sunnybrook and Powell's Creek projects.
Globally, Engie says it expects to deliver 4 GW per year, on average, of renewable capacity until 2025.
In Europe, Engie has vowed to comply with European Union (EU) sanctions against Russia. Although Engie does not have any projects under construction within Russia, its long-term contracts with Russian energy giant Gazprom represented roughly 20% of Engie's global gas sales and consumption in 2021. Engie says that following the invasion of Ukraine, it has reduced its direct exposure to Gazprom from up to 15 terawatt-hours (TWh) to less than 5 TWh at the end of March.
Engie announced this week it would make its next payment to Gazprom in euros, despite Russia's vow to only accept payment in rubles. Catherine MacGregor, the chief executive officer of Engie, said in a conference call with analysts that both companies had reached an agreement in line with EU sanctions. MacGregor added that the euro-based payment will eliminate any foreign-exchange risk.
Industrial Info is tracking more than $2.5 billion worth of natural gas-related projects across Europe from Engie. Subscribers to Industrial Info's GMI Project Database can click here for a list.
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
Click on the image at right for a graph detailing Engie's active projects in the U.S. and Canada, by state or province.Engie's North American business recently began operations at its Priddy Wind Project in Priddy, Texas, which generates about 300 megawatts (MW) from 63 turbines provided by General Electric (NYSE:GE) (Boston, Massachusetts). Engie is seeking permits for another 300-MW project, the Limestone Windfarm in Groesbeck, Texas, which would use 110 turbines provided by Nordex SE (Rostock, Germany). The Limestone project would be located near Engie's 300-MW Prairie Hill Windfarm, which began operations in April 2021.
Wind makes up 3.2 GW of Engie's 4.5 GW of power generation in the U.S. and Canada, while solar and natural gas each account for about 0.7 GW. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed reports on the Priddy Wind, Limestone and Prairie Hill projects.
One of Engie's most ambitious wind energy ventures is the Mayflower Wind project, offshore Massachusetts, which it is developing through Ocean Winds, a 50:50 joint venture with EDP Renewables North America (Houston, Texas); the project itself is a 50:50 venture between Ocean Winds and Shell plc (NYSE:SHEL) (London, England). The companies involved started developing the federal lease area for Mayflower Wind, which they estimate could generate up to 2,000 MW, in December, after securing a 400-MW power purchase agreement (PPA) in December.
The 400-MW PPA follows an 804-MW PPA announced in 2019, for a total secured capacity of more than 1,200 MW. A final investment decision on Mayflower Wind has yet to be made, but Engie and its partners believe operations could begin in the mid-2020s. Subscribers can learn more from Industrial Info's project report.
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). One of Photosol's largest active projects in is the San Juan Solar Farm in Kirtland, New Mexico, which includes a pair of solar units, each 225 MW, and a pair of BESS units, each 100 MW. The first solar unit is set to wrap up by the end of this year, with the remaining units to be completed by mid-2023, according to current projections. Subscribers can read Industrial Info's project reports on Unit 1's solar and BESS components, and Unit 2's solar and BESS components.
Two solar projects under construction from Engie's North American business are found in Virginia: the $81.6 million Sunnybrook Solar Plant in Scottsburg, which generates 51 MW from 180,000 photovoltaic (PV) panels, and the $66 million Powell's Creek Solar Plant in Alton, which generates 70 MW from 176,000 PV panels. In both cases, the PV panels are provided by Canadian Solar Incorporated (NASDAQ:CSIQ) (Guelph, Ontario). Subscribers can read detailed reports on the Sunnybrook and Powell's Creek projects.
Globally, Engie says it expects to deliver 4 GW per year, on average, of renewable capacity until 2025.
In Europe, Engie has vowed to comply with European Union (EU) sanctions against Russia. Although Engie does not have any projects under construction within Russia, its long-term contracts with Russian energy giant Gazprom represented roughly 20% of Engie's global gas sales and consumption in 2021. Engie says that following the invasion of Ukraine, it has reduced its direct exposure to Gazprom from up to 15 terawatt-hours (TWh) to less than 5 TWh at the end of March.
Engie announced this week it would make its next payment to Gazprom in euros, despite Russia's vow to only accept payment in rubles. Catherine MacGregor, the chief executive officer of Engie, said in a conference call with analysts that both companies had reached an agreement in line with EU sanctions. MacGregor added that the euro-based payment will eliminate any foreign-exchange risk.
Industrial Info is tracking more than $2.5 billion worth of natural gas-related projects across Europe from Engie. Subscribers to Industrial Info's GMI Project Database can click here for a list.
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
