Energiser Investments Share Discussion Threads

[grupo guitarlumber] 09/1/2021 10:39

Upcoming events on ENGIE

FEBRUARY/26/2021 FY 2020 Earnings Release

[waldron] 08/1/2021 20:29

Bp
298.7 +1.25%


Royal Dutch Shell A
1,468.2 -0.42%


Royal Dutch Shell B
1,417.4 -0.49%


Total
37.485 +0.07%


Engie
13.305 +1.80%



Eni
9.03 -0.42%


Tullow Oil (TLW)
:33.00 0.65 (2.01%)

[waldron] 07/1/2021 10:14

Veolia Environnement SA said Thursday it has notified peer Suez SA of its intention to file for the stake in the company it doesn't already own.

The French resource-management company said it sent Suez a public-offer proposal regarding the 70.1% stake.

"This formal proposal describes all the elements of the industrial project, the social project and the financial conditions that Veolia will offer when the offer is actually submitted," Veolia said.

Veolia previously acquired a 29.9% stake in Suez from energy company Engie SA, though the process has become mired in legal disputes, with Suez opposed to what it considers a hostile takeover by Veolia.

In Thursday's letter to Suez, Veolia said it will launch a voluntary public tender offer at 18 euros ($22.19) a share, the price at which it agreed to buy the initial stake from Engie. The company added that it intends to complete the merger in nine to 15 months, but that it cannot yet make a formal offer since the Suez board is "standing in its way."



Write to Joshua Kirby at [e-mail]; @joshualeokirby



(END) Dow Jones Newswires

January 07, 2021 03:30 ET (08:30 GMT)

[grupo] 04/1/2021 11:19

Engie sets up unit to integrate assets in Saudi
RIYADH, 0 hours, 49 minutes ago

France-based Engie, a leading low-carbon energy and service solution provider, has expanded its presence in Saudi Arabia by establishing a dedicated holding company to bring all the Group’s assets in the Kingdom under one umbrella.

Engie appointed Turki Al Shehri as Chief Executive Officer to manage the local office and bring Engie’s global experience closer to its customers.

Despite delays and potential setbacks that the world experienced as a result of the Coronavirus pandemic, Engie has managed to keep its expansion in the Kingdom on track building its asset and project value to over $8 billion, with plans to invest in assets worth an additional $6.34 billion in the Kingdom by 2025.

Engie is a major player in the development of Saudi Arabia’s renewable energy, co-generation, energy efficiency and other green initiatives. In the past 12 months, Engie secured nine new contracts for projects in facilities management, a seawater reverse osmosis plant and projects for the provision of energy services through its service providers and in partnership with Saudi actors.

In February, Engie was awarded the Yanbu-4 independent water producer (IWP) desalination plant by the Saudi Water Partnership Company (SWPC), projected to supply 450,000 m3/day of desalinated seawater using clean energy. Engie and its partners have also been awarded three facilities management projects and five energy efficiency projects within the Kingdom.

These new projects add $944 million to Engie’s existing portfolio of projects and assets, making Engie a 10% provider of electricity and an 11% provider potable water in Saudi Arabia.

In its growth this year, the company has hired 62 new employees bringing the total of Engie staff in the Kingdom to 2000.Engie’s most recent acquisition of Saudi-based facilities management firm, Allied Maintenance Company (AMC) adds 1,300 more employees to Engie’s workforce. Engie plans to expand its workforce to over 5,000 employees by 2025 with new hires joining various service providers and project development entities under the domain of Engie across the entire Kingdom.

A key area of Engie’s development in Saudi Arabia lies in supporting local talent acquisition and career development through dedicated and continuous training programs to lead the way for value-added services of a foreign company.

In this effort, Engie has formed three partnerships with local entities including the Saudi Industrial Development Fund (SIDF) and the Ministry of Investment to support with practical and vocational training programs both in and outside of the Kingdom, ensuring that Saudi’s workforce can meet the long-term demand of the labour market. – TradeArabia News Service

[grupo] 04/1/2021 09:14

MOSCOW, January 4. /TASS/. US sanctions against the Nord Stream 2 gas pipeline are blatant protectionism aimed at advancing its liquefied natural gas on the European market, but the EU countries understand this and support the project, and thanks to this it will be completed, Russian Deputy Prime Minister Alexander Novak told RBC TV.

"Certainly, this is blatant protectionism. The key idea why our colleagues from overseas are opposing Nord Stream 2 is linked first of all to the need to promote their own product, their LNG," Novak said.

"This tool is absolutely uncompetitive. Everyone understands this, including the countries that are interested in fulfilling the [Nord Stream 2] project, the European countries and companies. They support the project and I’m sure that given this support it will be implemented," Novak noted.

[waldron] 03/1/2021 15:47

Norwegian company turns its back on Nord Stream 2 under threat of US sanctions

3 Jan, 2021 14:54 / Updated 1 minute ago

/ Axel Schmidt


Spooked by the US’ latest punitive measures, a Norwegian Nord Stream 2 contractor has refused to support the Gazprom-led gas pipeline project after eight years of close cooperation with Russian energy giant.

Det Norske Veritas – Germanischer Lloyd (DNV GL), which is in charge of verification procedures, confirmed it has stopped working on Nord Stream 2 as a result of broadened sanctions introduced by Washington on the project.

“DNV GL will stop all activities to verify the Nord Stream 2 pipeline system in accordance with the sanctions, and as long as these sanctions remain in force. We are implementing a plan to curtail our support for the project,” the Oslo-based firm said in a statement.


The move puts an end to longstanding cooperation that began as early as 2012, when Gazprom started constructing the Nord Stream pipeline.

On Friday, the US Senate voted to override President Donald Trump’s veto of the fiscal year 2021 National Defense Authorization Act (NDAA). The NDAA includes a package of sanctions on corporations involved in the construction of the Nord Stream 2 and TurkStream pipelines.

Nord Stream 2 will supply Europe with up to 55 billion cubic meters (bcm) of natural gas per year, on top of the 55 bcm already pumped through Nord Stream 1. TurkStream will deliver Russian gas to Turkey and on to southern European states.

RT's business section

[grupo guitarlumber] 02/1/2021 22:00

Norway firm refuses to certify Russia's Nord Stream 2 over new U.S. sanctions – media
22:57, 02.01.21
Economy
1 min. 74

The launch of the pipeline operation is impossible without such a certificate.


Norway's risk management and quality assurance firm DNV GL has refused to certify Russia's Nord Stream 2 gas pipeline when its construction is completed over new U.S. sanctions.

Read alsoNord Stream 2 pipelaying in German waters completed
According to the current situation, DNV GL cannot issue a certificate upon completion of the pipeline construction, the Russian news agency RBC reported on January 2, referring to DNV GL.

The launch of the pipeline operation is impossible without such a certificate.
Nord Stream 2: Background

The Nord Stream 2 project envisages the construction and operation of two gas pipeline branches with a total throughput capacity of 55 billion cubic meters of natural gas per year from the coast of Russia through the Baltic Sea to Germany. It should connect Russia's Ust-Lug and Germany's Greifswald. This new pipeline bypassing Ukraine is to be built next to the existing Nord Stream 1 pipeline.
The construction of the pipeline was expected to be completed before the end of 2019.
The pipeline will be 1,220 km long. The project is being implemented by Russia's Gazprom in alliance with European companies – ENGIE, OMV, Royal Dutch Shell, Uniper, and Wintershall. Ukraine stands against the construction of Nord Stream 2 as it will most likely lose its status of a gas transit country, while its potential revenue losses are estimated at US$3 billion annually. The project is also highly criticized by the U.S., Poland, and the Baltic States.
According to media reports, U.S. President-elect Joe Biden intends to do his best to prevent the construction of Nord Stream 2.

Author: UNIAN


Read more on UNIAN:

[grupo guitarlumber] 01/1/2021 13:47

Upcoming events on ENGIE

FEBRUARY/26/2021 FY 2020 Earnings Release

MARCH/17/2021 | 09:45am ACI Hydrogen & Fuel Cells Energy Summit

MAY/18/2021 Q1 2021 Earnings Release

MAY/20/2021 Shareholders Meeting

[waldron] 31/12/2020 14:24

Tullow Oil (TLW)
Share Price: 29.58 Change: -0.20 (-0.67%)


Bp
254.8 -1.77%

Vodafone
120.94 -1.23%

Royal Dutch Shell A
1,297.8 -1.49%

Royal Dutch Shell B
1,259.4 -1.01%


Eni
8.548 -0.16%


Total
35.3 -0.81%

Engie
12.52 -1.38%

Orange
9.734 -0.71%

Axa
19.512 -0.83%

[the grumpy old men] 30/12/2020 12:55

worldoil


Russia accelerates Nord Stream 2 project to beat U.S. sanctions
By Vanessa Dezem, Daniel Flatley and Dina Khrennikova on 12/30/2020

(Bloomberg) --Russia is stepping up work on the Nord Stream 2 pipeline before the U.S. tightens sanctions against the controversial project designed to feed more natural gas into Germany.

Construction of the 1,230-kilometer (764-mile) pipeline reached a milestone on Monday with the completion of pipe-laying in German’s exclusive economic zone, the project operator said. Among the next steps is resuming work in Denmark’s part of the Baltic Sea, where the bulk of the remaining sections of the 157 kilometer link will be located.

Progress on the link is a victory for Russian President Vladimir Putin and the nation’s gas export champion, Gazprom PJSC. When complete, the project will allow Russia to expand deliveries of gas to Europe and circumvent the traditional transport corridor through Ukraine. The U.S. and Eastern European nations say Nord Stream 2 will make Germany and the European Union too reliant on Russian gas.

“There are approximately 120 kilometers in Danish waters and approximately 30 kilometers in German EEZ to be laid,” Nord Stream 2 said in an emailed reply to questions on Tuesday. “We are not in a position to deliver further construction details. We will inform about further offshore construction activities in due time.”

Work on the 9.5 billion-euro ($11.6 billion) project was stopped a year ago by U.S. sanctions and resumed only earlier this month when Gazprom found its own ship to lay the pipeline. Nord Stream 2 can use the vessel Fortuna to carry out the work starting Jan. 15, assisted by construction vessels Murman and Baltiyskiy Issledovatel and other supply ships, the Danish Maritime Authority said last week.

Based on the Danish permit, the operator must submit an updated schedule to the nation’s Energy Agency prior to carrying out the works. So far, the regulator hasn’t received the updated plan, the agency said. The Fortuna vessel can lay as much as 1 kilometer of pipes per day.

At that rate, analysts estimate Nord Stream 2 could start operations as soon as the end of 2021 under an optimistic scenario.

“I firmly believe the pipeline will be completed,” Uniper SE Chief Executive Officer Andreas Schierenbeck said in an interview in German newspaper Rheinische Post on Wednesday. “People don’t have to like the pipeline, but Europe needs it.”

The German utility is one of the principal financiers behind the project.

The U.S. meanwhile is maneuvering to tighten sanctions, extending penalties to companies that provide technical certification and insurance for the work. That legislation was part of a broader defense bill that passed Congress but was vetoed by President Donald Trump. The House of Representatives voted to override the veto. If that’s endorsed by the Senate, which is dominated by Trump’s Republican Party, the new measures could come into force in the next few weeks.

Who’s Dependent on Russia’s Gas?

Should the Senate override Trump’s veto on the defense bill, “the new sanctions against Nord Stream 2 will turn into reality,” said Mateusz Kubiak, a senior analyst at Warsaw-based energy consultant Esperis. “It might be just another factor that will make it more difficult for the Russians to effectively and timely restart works” in the Danish waters in January, Kubiak said.

“All of the additional pipe-laying activities will now be sanctioned, including surveying, trenching and rock placement,” he said.

The U.S. maintains that Nord Stream 2 gives Russia too much leverage over Europe and that American liquefied natural gas supplies are a better alternative. Nord Stream 2 benefits the economies of Germany and Europe since the price of Russian pipeline gas is 20% lower than that of U.S. LNG, according to Putin.

U.S. sanctions can complicate the completion of Nord Stream 2, Kremlin spokesman Dmitry Peskov told reporters last week. Deputy Prime Minister Alexander Novak told the state TV channel Rossiya 24 on Monday that the pipeline will be completed because good for European business.

“It’s a commercial project, which is, in the first place, in the interests of our foreign partners,” Novak said.

[grupo] 30/12/2020 10:02

Oil Prices Continue Climb On Large Crude Draw
By Julianne Geiger - Dec 29, 2020, 3:43 PM CST

The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 4.785 million barrels for the week ending December 25.

Analysts had predicted an inventory draw of 2.100 million barrels for the week.

In the previous week, the API reported a build in oil inventories of 2.70-million barrels, after analysts had predicted a draw of 3.135 million barrels.

Both Brent and WTI were up on Tuesday morning before the data release on hopes of a larger round of stimulus checks signed off on by President Donald Trump and the House on Monday. Gains continue to be capped, however, by OPEC's plans to gradually increase oil production after the start of the year despite lockdowns and depressed demand.

Moments before Tuesday's data release, WTI had risen by $0.41 (+0.86%) to $48.03, up $.80 per barrel on the week. The Brent crude benchmark had risen on the day $0.44 at that time (+0.87%) to $51.30—up roughly $1 per barrel on the week.

U.S. oil production held steady at 11.0 million bpd for the week ending December 18, according to the Energy Information Administration—;2.1 million bpd lower than the all-time high of 13.1 million bpd reached in March.

The API reported a draw in gasoline inventories of 718,000 barrels of gasoline for the week ending December 25—compared to the previous week's 224,000-barrel draw. Analysts had expected a 1.778-million-barrel build for the week.

Distillate inventories were down by 1.877 million barrels for the week, compared to last week's 1.03-million-barrel increase, while Cushing inventories rose this week by 131,000 barrels.­

At 4:36 p.m. EDT, the WTI benchmark was trading at $47.99, while Brent crude was trading at $51.07.

By Julianne Geiger for Oilprice.com

[the grumpy old men] 29/12/2020 17:10

UPSTREAM


Nord Stream 2 completes offshore German pipelay

Russian gas export pipeline project to resume laying remaining segments in Danish waters in January, despite growing political tensions




29 December 2020 16:03 GMT Updated 29 December 2020 16:23 GMT
By Vladimir Afanasiev
in Moscow

Gazprom-owned operator Nord Stream 2 has completed laying two short, shallow-water segments of its gas export pipeline in Germany's Baltic Sea waters over the weekend, with the pipelaying barge Fortuna returning to the port of Wismar.

Echoing earlier reports, Nord Stream 2 said it now expects to resume construction of two longer segments of the pipeline in Danish waters in mid-January. though it did not provide further details.

Once finished, these two segments will enable Nord Stream 2 to move into the commissioning phase of the project, which is already more than a year behind the original schedule because of US sanctions.

Speaking in Moscow, Dmitry Peskov, spokesman for Russian President Vladimir Putin, acknowledged that the sanctions are “complicating” the pipeline project, which the Kremlin believes is needed for European energy security.
'I think we will be able to finish the job' - Putin on Nord Stream 2

Peskov has described the US sanctions as a “completely overt, cowboy, raider attack” on the project, adding that Russia has met with an “unfriendly and openly hostile operating environment” in the West.

However, Gazprom has been pushing ahead with Nord Stream 2 and “is getting closer to the finalization of this project”, he said.

Peskov said that Russia and its European partners want the project to be brought on stream for the benefit of “European consumers and Russian gas suppliers”.

The Kremlin’s reputation in the West has been tarnished by independent investigation group Bellingcat alleging that Russia’s domestic intelligence service FSB played a role in masterminding the attempted poisoning of opposition leader Alexei Navalny, according to political observers in Moscow.
Gazprom proposes hydrogen production facility in Germany
Read more

Two YouTube videos with details of Bellingcat’s investigation into Navalny's poisoning, released earlier in December, each gathered more than 20 million views within one week, giving a boost to calls for European Union politicians to introduce new sanctions against Russia.

In a pre-emptive response, the Kremlin said it has expanded the undisclosed list of European officials barred from entering Russia for calling for such measures against the country.

In October, the EU sanctioned several Russian officials over Navalny’s poisoning.

However, the EU did not heed calls from European politicians to take punitive measures against Nord Stream 2

[misca2] 27/12/2020 15:38

ENGIE : The resistance should give in
12/24/2020 | 07:28am GMT

12/24/2020 | 07:28am GMT
long trade
Live
Entry price : 12.725€ | Target : 14€ | Stop-loss : 11.6€ | Potential : 10.02%
ENGIE shares are trading close to a major technical resistance, which, if broken, could yield new upside potential and an increase in volatility. This scenario can be anticipated.
Investors have an opportunity to buy the stock and target the € 14.
ENGIE : ENGIE : The resistance should give in
Summary

The company has solid fundamentals for a short-term investment strategy.


Strengths

As regards fundamentals, the enterprise value to sales ratio is at 0.98 for the current period. Therefore, the company is undervalued.
With a P/E ratio at 11.93 for the current year and 11.82 for next year, earnings multiples are highly attractive compared with competitors.
The company is one of the best yield companies with high dividend expectations.
For the last 4 months, the company has been enjoying highly positive EPS revisions, which were frequently and significantly raised.
Analysts covering this company mostly recommend stock overweighting or purchase.
The difference between current prices and the average target price is rather important and implies a significant appreciation potential for the stock.


Weaknesses

According to Standard & Poor's' forecast, revenue growth prospects are expected to be very low for the next fiscal years.
The company is in debt and has limited leeway for investment
The company's earnings releases usually do not meet expectations.
Revenue estimates are regularly revised downwards for the current and coming years.
For the last twelve months, the trend in sales revisions has been clearly going down, which emphasizes downgraded expectations from the analysts.

[sarkasm] 27/12/2020 11:18

THE TELEGRAPH



‘Profits will grow seven-fold' – why oil stocks are set for a bumper 2021

Earnings could rocket at companies sensitive to the economy while utilities and technology firms may struggle

By Sam Benstead 27 December 2020 • 5:00am

The oil sector is primed for a blowout 2021, with profits set to rise seven times compared with 2020....

[waldron] 27/12/2020 09:48

GULFNEWS




Although the pandemic will continue to weigh on oil demand in 2021, some estimates show that monthly supply deficits could reach their highest in years.

Rystad Energy expects vaccination campaigns to help bring a rapid recovery going forward. Monthly supply deficits will start from May, reaching a high of around 3.4 million barrels per day in August.

“As deficits continue uninterrupted through the year, August’s high could be repeated, if not exceeded by year-end,” the energy consultancy said.

“Our monitors in the US are starting to point out at stronger activity … In addition, there are winds of change forecasted in the geopolitical realm next year,” said Bjornar Tonhaugen, Head of Oil Markets at Rystad Energy.
Oil prices rally

Meanwhile, crude prices continued to rise as markets shrugged off US President Donald Trump’s threats to derail the stimulus programme.

Brent crude rose 2.7 per cent to $51.15 a barrel, while US crude (WTI) jumped 2.75 per cent to $48.05 a barrel.

“With liquidity falling into the holiday period, I expect oil to trade in some quite broad, and potentially volatile ranges in the days ahead,” said Jeffrey Halley Senior Market Analyst, Asia Pacific, OANDA.

“Oil’s ability to move through resistance depends entirely on developments in Washington DC, which are looking very messy at the moment,” said Halley. “That still leaves the door open equally, for a sharp fall or rally from here, despite the underlying bullish case for higher prices in 2021.”
Balanced market

Going into 2021, the market will largely be balanced in January, with supply and demand hovering between 77.7 and 77.8 million barrels per day (bpd), according to Rystad Energy.

The effect of global lockdowns will be felt even more in February and March as demand will not follow the growing supply, creating a surplus of 0.5 million bpd in February and 1.4 million bpd in March.

A minor surplus will also be recorded in April but the market will recovery shortly after, the consultancy said.

[sarkasm] 21/12/2020 14:59

Wind 21 December 2020 Engie, Equinor and Enel announce wind data sharing project

Engie, Equinor and Enel announce wind data sharing project

Published by Bella Weetch, Editorial Assistant
Energy Global, Monday, 21 December 2020 12:45

Some of the largest wind turbine owners in the world have announced the launch of a new data sharing programme. Turbine owners around the world will securely and openly exchange operational performance data, enabling them to reduce their data dependency to OEMs, improve analytics and develop a transparent global performance benchmark.

The key objective of the project is to unlock operational insights and to create an operational turbine performance baseline. Enel, Engie and Equinor have confirmed their participation to the project and committed to sharing data from over 10 000 turbines both onshore and offshore. The programme is open to any turbine owner, and a significant number of companies are expected to join the project in the coming months. A series of seminars will take place at the beginning of 2021 to enable any interested party to assess opportunities and coordinate platform development efforts.

By exchanging data on tens of thousands of operating turbines worldwide, leading wind asset owners will be able to turn insights into tangible advantages, such as improving wind farm operations, as well as improving the success rate of claims related to lower than expected power production.

The complete legal framework of the programme, along with detailed technical description for which data are to be shared, and the complete exchange process will be presented at the upcoming industry seminar.

[sarkasm] 20/12/2020 13:28

Summary

A weaker dollar in 2021 is likely to open the door for higher oil prices, as analysts widely expect the greenback to struggle next year.

[the grumpy old men] 20/12/2020 08:44

Engie buys top Saudi facilities management group AMC
RIYADH, 0 hours, 46 minutes ago
Engie Solutions, an international leader in providing low carbon energy and services, has acquired Allied Maintenance Company (AMC), a Saudi-based total facilities management company with a wealth of experience across numerous locations in the kingdom.

Formed in 1992, AMC has more than three decades of experience serving customers across a range of sectors in Saudi Arabia.

With more than 1,300 staff, AMC currently manages multiple projects in strategic locations across Riyadh, Al Khobar, Dammam, Jubail, Khamis Mushayt, Taif, Jeddah, and Tabuk.

Through the acquisition, Engie will expand its presence in Saudi Arabia by leveraging AMC’s countrywide coverage and client base, while also proving customers with its world leading low carbon energy services – particularly in the areas of energy efficiency and digitization, said the statement from the company.

Engie’s portfolio in the region includes bespoke and performance-based energy services built on people, expertise and cutting-edge technologies.

An objective of the company’s growing presence in Saudi Arabia is to elevate technical capabilities by upskilling the local workforce and deploying new and sustainable solutions designed to optimize energy consumption, asset performance, and operating costs, it added.

On the acquisition, Ian Harfield, Executive Vice President of Engie Solutions (Middle East, South and Central Asia and Turkey) said: "With its strong reputation and network across Saudi Arabia, AMC is a welcome integration into the Engie Group that will strengthen our leadership in delivering energy-driven client solutions locally in Saudi Arabia, and across the region, in line with Engie Group’s vision to enable the transition towards a carbon-neutral society."

On the acquisition, Turki Al Shehri, CEO of Engie in Saudi Arabia, said: "This represents the group’s confidence in the talent and skills cultivated in the Kingdom over the years. By strengthening these long-standing relationships, we plan to accelerate the deployment of integrated energy solutions to our client base in Saudi Arabia."

"We have witnessed remarkable growth across all sectors in the Kingdom, and along with this growth comes a stronger need for value and performance focused solutions," he added.

"This is a proud moment for AMC, to be integrated into Engie Group, said its CEO Abdullah El Sibai.

"As a homegrown company, we have grown a strong portfolio of clients over the last 30 years, and this new step for our company will enable us to enhance our offerings and attract a new generation of technical and skilled workforce to join the growing ranks of professionals in the Kingdom’s energy services sector," he added.-TradeArabia News Service

[the grumpy old men] 20/12/2020 08:27

FORECOURTTRADER.CO.UK



Latest News
Engie works with Silverstone Green Energy on Wales’ first national EV charger network

By John Wood18 December 2020

No comments
Save article

electric charging Prius plug-in hybrid close up

EV charging company Engie has worked with Silverstone Green Energy to roll out the first public charging network across Wales.

The Dragon Charging uses the GeniePoint Platform to provide full operational and management facilities including 24/7 customer support for any driver using the network.

Use of the GeniePoint Platform back office system will enable GeniePoint Network drivers to use the Dragon Charging Network, and other linked EV charging networks, without having to re-register and vice versa.

GeniePoint will also provide driver access functionality via the Dragon website. Drivers also have the option of RFID access card for low signal areas.

The Dragon Charging Network offers more than 120 chargers across the country from the Severn Bridge to Pembroke and North to Aberystwyth.

Andrew Mackay, construction project manager, Silverstone Green Energy, said: “We chose the GeniePoint Platform as the back office provider for the Dragon Charging Network because of its proven track record of product reliability and flexibility, but equally because of the great team at Engie providing support, help and advice to our team and to drivers using the Dragon Charging Network.”

The Welsh Government recently published its strategy to boost the take up of electric vehicles across the country, it’s vision to have all users of electric cars and vans confident that they can access electric vehicle charging infrastructure when and where they need it by 2025. To help with the delivery of this plan, they have set aside proposed investment of £30m over five years.

Alex Bamberg, managing director of Engie EV Solutions, said. “Our established market experience enables us to focus on joining up all aspects of electric vehicle charging to provide a clear route for easy transition to electric transport solutions. Providing seamless interoperability across multiple networks makes the easiest driver experience therefore encouraging and supporting the switch to zero carbon transport.”

The chargers on the Dragon Charging Network are owned by local authorities, community groups and commercial organisations that want to make their chargers available for public use. Many of the local authorities involved provide free parking while charging to further encourage changing to electric transport. Engie and Silverstone are continuing to expand the network as more organisations join.

[the grumpy old men] 20/12/2020 08:23

Engie Romania buys 9.3 MW solar park in Harghita county
Wind power, turbine Source: SeeNews

BUCHAREST (Romania), December 18 (SeeNews) - The Romanian arm of French electric utility company Engie said on Friday that it has completed the acquisition of a 9.3 MW photovoltaic park in the central county of Harghita.

The acquisition is in line with Engie Romania's strategy focused on the development of renewable energies that have a key role in the energy transition, the company said in a press release.

The value of the deal was not disclosed.

Prior to the completion of the deal, the park was part of Ever Solar, a local company owned by German photovoltaic park developer Soventix and developer Alpin Solar.

The photovoltaic farms were put into operation in 2015 and have so far produced approximately 55 GWh, the equivalent of annual electricity consumption of some 34,000 households.

"This acquisition marks a new stage in achieving our goal of becoming a major investor in the field of renewable energy in Romania by 2030, thus contributing to the group's ambition to be the leader in energy transition," Engie Romania president and CEO Eric Stab said.

"Locally, our goal is to occupy a leading position in the segment of centralised renewable energy - given that wind and solar energy will have an increasing share in the future energy mix of the country - and to provide green energy to our customers, either natural or legal persons," he added.

"Romania has a high potential for solar energy, which will be capitalised more and more in the coming years. Therefore, our objective is to continue the development of the installed capacity portfolio of renewable energies, both through organic growth and acquisitions," Engie Romania said in the statement.

Engie Romania currently operates 110 MW of renewable energy in wind and photovoltaic capacities. Prior to this acquisition, the company was active in renewable energy with two wind farms, with an installed capacity of approximately 100 MW, located in Braila and Galati counties .

The Engie Group is present in Romania in natural gas, electricity and energy services.

Engie Romania is the main subsidiary of the French group in Romania and owns the companies Distrigaz Sud Retele, ENGIE Servicii, ENGIE Building Solutions, Alizeu Eolian and Braila Winds, serving a total 1.9 million customers. Engie Romania and its subsidiaries operate a distribution network of about 20,000 km, own two wind farms with a total capacity of 110 MW and have 4,000 employees.
More stories to explore


RENEWABLESNOW

[waldron] 18/12/2020 17:55

Bp
271.35 +0.74%

Vodafone
125.98 +0.40%

Royal Dutch Shell A
1,381.2 -0.55%



Royal Dutch Shell B
1,341 -0.67%

Tullow Oil (TLW)
31.67 -0.08 (-0.25%)



Total
35.99 -1.09%


Engie
12.625 -0.36%

Orange
9.95 +3.37%


Axa
19.884 -1.30%



Eni
8.621 -1.03%