World’s largest IPP to reveal solar-powered strategy for fossil fuel separation

Engie's energy transition will be largely a solar powered one. Source: ©SolaireDirect

French firm Engie, formerly GDF Suez, the largest independent power producer in the world, will announce a strategy for its transition away from fossil fuels in the coming weeks.

The company, which has 115GW of electricity generation assets, has already increased its presence in the renewables sector, not least with the acquisition of French PV developer, SolaireDirect. It has also begun the process of backing away from conventional fuels.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Speaking to PV Tech on the sidelines of the Solar Investment and Finance Conference in London on Wednesday, SolaireDirect CEO Thierry Lepercq said the plans for the shift would be revealed by the end of the month.

“Moving a 150-year-old group to something totally different is going to take some time but there will be more announcements in late February with a number of details about the group’s strategy, which will be renewable and solar driven. Even though, to be very frank, solar makes up just 1GW [of Engie's capacity] but the ambition is extremely big,” he said.

A number of European utilities including RWE and E.On have begun a focus away from fossil fuel generation assets. The move by Engie has already been signposted by a series of strategy shifts made by the company.

“The announcements have already been made. One is that the group wants to be a leader in the energy transition. That’s an abstract thing but energy transition clearly means fossil fuels to renewables. The second announcement was that the group ceased investment in coal. That sends a strong message. It has also moved out of merchant gas in the US, which is a significant capacity.

“Then there is the question of which renewable energy, you look at what is competitive, it’s about serving consumers with competitive energy, and right now solar is unbeatable,” said Lepercq.

The shift is also giving the group a new route into new markets.

It recently won a 140MW solar project in India and announced it was disposing of its coal assets in the country.

“The group’s strategy in India, a key market that the group is not well present in, will be solar-based and that will go for other Asian and Latin American markets as well,” added Lepercq.

Read Next

June 14, 2024
Spanish PV developer Solarpack has signed a power purchase agreement (PPA) with Indian state-owned utility SJVN for a 482MW hybrid solar-wind park.
June 4, 2024
The Solar Energy Corporation of India (SECI) has launched a request for proposals for 1.2GW of new solar PV capacity in the country.
May 31, 2024
Mercom India has published its latest research into Indian rooftop solar, finding that India installed 367MW of new capacity in Q1 2024.
May 31, 2024
Indian renewables developer Avaada Energy has secured a 1050MW contract in a tender issued by the government’s Renewable Energy Implementing Agency (REIA) and National Thermal Power Corporation (NTPC).
May 29, 2024
The challenges facing Europe's solar sector are explored in depth in the latest edition of our quarterly journal, PV Tech Power.
May 24, 2024
Waaree Energies has signed an agreement to supply 445MW of modules to Statkraft India for a project in Bikaner, Rajasthan.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 2, 2024
Athens, Greece
Solar Media Events
July 9, 2024
Sands Expo and Convention Centre, Singapore
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia