Energiser Investments Share Discussion Threads

[grupo guitarlumber] 10/11/2021 19:33

Engie Nears Deal to Buy Spanish Renewables Producer Eolia

Francois de Beaupuy and Dinesh Nair, Bloomberg News


(Bloomberg) -- A consortium led by French utility Engie SA is nearing a deal to acquire Eolia Renovables de Inversiones SCR SA, a Spanish renewable power producer owned by Alberta Investment Management Corp., said people with knowledge of the matter.

An agreement is set to be announced as soon as Wednesday, the people said, asking not to be identified because the information is private. The sale price could be above 2 billion euros ($2.3 billion), local media including the Expansion newspaper have reported.

A representative for Engie declined to comment, while spokespeople for AIMCo. and Eolia didn’t immediately respond to requests for comment.

Demand for renewable energy assets has soared in recent years, with infrastructure funds and strategic investors spending billions of dollars to gain exposure to the sector as governments promote low-carbon energy and crack down on fossil fuels to fight global warming. The value of deals involving alternative energy companies has more than doubled this year to an annual record of $92 billion, according to data compiled by Bloomberg.

Eolia develops, builds and operates wind farms and solar photovoltaic plants, with a portfolio of 824 megawatts in Spain, according to the company’s website. The acquisition fits Engie’s strategy of accelerating in renewables, and energy infrastructure such as district heating and electric-car charging networks.

The transaction will also reinforce its presence in Spain, where Engie and financial partners bought a portfolio of hydropower assets from EDP-Energias de Portugal SA for 2.21 billion euros last year.

To help fund its priorities, Engie announced last week that it that it agreed to sell its energy-services business Equans for 7.1 billion euros to French construction conglomerate Bouygues SA. The power and gas utility already sold most of its holding in French water company Suez SA a year ago, and an interest in its French gas-transmission network in July.

Separately, Engie raised its guidance for full-year revenue and profit on Wednesday, citing a strong operational performance and “external tailwinds” amid a surge in gas and power prices.

“We have maintained our focus on robust operational performance, notably for our nuclear generation, we have increased production from renewables, and recovered significantly from last year’s Covid impacts,” Chief Executive Officer Catherine MacGregor said in a the statement.



(Updates with details of Eolia’s operations in sixth paragraph.)

[waldron] 08/11/2021 23:15

Bouygues buys Engie Regeneration in Equans deal

Aaron Morby 56 mins ago



French construction conglomerate Bouygues has bought the Equans services arm of fellow French-owned energy giant Engie for €7.1bn.



The Equans operations will be combined with Bouygues’ Energy and Services (E&S) division.

Both operate substantial businesses in the UK paving the way for the creation of a major energy services operation employing over 16,000 staff.

The multi-technical services sector notably covers electrical engineering, HVAC, refrigeration, mechanical engineering, robotics, digital, telecoms networks and facilities management.

It is a strong growth potential market, forecast to grow by between 3%-4% over the next five years.

In the UK and Ireland, the rebranded Engie Services business is presently the larger of the two operations enjoying revenue of over £2bn.

Equans’ activities cover a host of areas from technical services, facilities management, construction and regeneration and renewables, employing 13,500 staff – a significant part of the overall new global operation.

Engie Regeneration, which original came from the former Keepmoat business, turned over £623m last year, but booked significant losses of £77m blaming the pandemic and discontinued businesses. The firm employs 2,800 staff.

Bouygues E&S Solutions is a smaller UK operation employing around 2,700 staff with revenue of £250m.

Martin Bouygues, Chairman of Bouygues, said: “The signing of a purchase agreement with Engie to acquire Equans is very good news.

“It paves the way for us to create a new global leader in multi-technical services, with strong roots in France. We will extend a warm welcome to the 74,000 Equans employees, who will be joining a group with a reputation for strong ethical values and high-quality labour relations. ”



Aaron Morby

Written by Aaron Morby
56 mins ago

[e-mail]
always off the record

[ariane] 04/11/2021 11:46

worldoil.com



Nord Stream 2 may take months to untangle European red tape

By Patrick Donahue and Dina Khrennikova on 11/4/2021

(Bloomberg) --Russia’s Nord Stream 2 may need a few more months to clear remaining red tape before the controversial pipeline begins pumping natural gas to Germany to help ease Europe’s energy crunch.

The Baltic Sea project -- which has raised concerns over the Kremlin’s control of energy supplies to the continent, including among Germany’s Greens -- is complete and awaiting certification from national and European Union authorities. Russian President Vladimir Putin has pledged to step up gas supply, and has said Nord Stream 2 can be activated “the day after” regulatory sign-off.

However, the pipeline might not be approved until May if regulators use all the time they’re allowed. Whether the bureaucrats would be willing to accelerate the process if Europe’s energy woes intensify remains to be seen.

Soaring energy prices coupled with below-capacity deliveries in recent weeks have prompted accusations from European officials that Russia is curbing supply to pile pressure on authorities to grant certification for the new link.

The political dial is unlikely to move much. The German government under outgoing Chancellor Angela Merkel has been steadfast in its support for the project over the objections of the U.S. and some European Union partners, as well as Russia’s neighbor Ukraine.

With Olaf Scholz, a Social Democrat whose party has firmly backed the pipeline, seeking to form a new government to succeed her, a shift in policy is not on the horizon.

Still, the Greens, the second-largest political force negotiating for a coalition, have long opposed the project. Co-leader Robert Habeck, who will play a leading role in any new government, on Wednesday reinforced the party’s calls for the pipeline to adhere to EU rules and accused Russia of using the project as a tool for blackmail.

“If you ask me if Nord Stream 2 should be allowed to go online, I would say only if all European rules are adhered to,” Habeck said in an interview with Deutschlandfunk radio. “I wouldn’t see that as being the case right now and would doubt that.”

Here’s a look at what to expect:

German Approval

Germany’s Federal Network Agency has until Jan. 8 to issue a draft decision on certification, the end of a four-month window after the paperwork was submitted to German authorities.

Approval appears to be a foregone conclusion after the Economy Ministry in Berlin issued an assessment last month saying that Nord Stream 2 poses no risk to the energy supply of Germany and the EU.

EU Finding

The draft decision will then be handed over to the European Commission for review, particularly on whether the pipeline meets EU rules stipulating that the gas-transport business is separate from production and sales -- a process known as unbundling.

A group of senior European Parliament lawmakers wrote a letter to EU Energy Commissioner Kadri Simson last month warning that Nord Stream 2 doesn’t conform with unbundling requirements. They called for a “clear and robust” adherence to European energy rules, a point echoed by the German Greens’ Habeck.

But the Commission’s finding isn’t binding, limiting the scope to halt the project. More likely is a delay. The EU has two months to reach a conclusion, which can be extended for another two months.

Only then can Germany’s regulator grant certification -- potentially putting Nord Stream 2’s starting date well into next year.

“If the German regulator allows supplies tomorrow, deliveries will begin the day after tomorrow,” Putin said in Sochi last month.

Political Backing

Opposition to the pipeline, particularly among eastern EU member states such as Poland, remains strong, and the government in Warsaw last month called on the Commission to launch a probe into possible market manipulation by Nord Stream 2 owner Gazprom PJSC.

The EU executive arm said it’s quizzing gas producers and suppliers as it examines “all allegations of possible anti-competitive conduct” to check whether current price increases are related to antitrust breaches.

A political demise of the project is all but ruled out. Merkel agreed in a declaration with the U.S. that Germany will take action if Putin weaponizes energy, but there is little intention in Berlin to shut down the pipeline.

Scholz is holding talks to form a government with the Greens and pro-business Free Democrats, both of which were outspoken opponents of Nord Stream 2 on the campaign trail. But as the largest party in the government, the SPD would almost certainly block any language in a coalition accord that would endanger the project.

[waldron] 03/11/2021 19:29

Nord Stream 2 Too Late To Alleviate Europe's Winter Gas Crunch

By Tsvetana Paraskova - Nov 03, 2021, 1:30 PM CDT

The controversial Russia-led natural gas pipeline Nord Stream 2 will likely get approval from German and EU regulators, but this approval could also likely come too late to ease the gas shortages in Europe this winter season.

German authorities have signaled that they would certify the pipeline, which is completed and awaits an operational license from Germany. But the German authorization, expected no later than January 8, 2022, will then need a review of the European Commission, which is non-binding but has to find whether the pipeline and its operation complies with EU rules.

The EU has two months to decide and another two months to stall a decision, which could push the first actual gas flows on Nord Stream 2 to well beyond the winter season in Europe, to May 8, Bloomberg's Patrick Donahue notes.

Some analysts and EU member states such as Poland accuse Russia of using gas and energy as a weapon to continue exerting influence on the European gas market. The Kremlin, Vladimir Putin, and all Russian officials deny those accusations.

Russia signaled last week it would start filling European storage sites once Gazprom completes the filling of the Russian storage. But Moscow also says that an immediate boost to supply for European customers would come as soon as German authorities approve the controversial Nord Stream 2 pipeline.

Putin told Gazprom's CEO, Alexei Miller, last week that as soon as the Russian gas giant completes filling Russia's underground storage by or on November 8, "I would like you to start consistent and planned work on increasing the amount of gas in your underground depots in Europe – in Austria and Germany," per the English translation on the Kremlin website.

Putin's apparent promises of more supply sank natural gas prices at the end of last week.

Early this week, however, natural gas prices at the key European and UK hubs surged again on Monday, after gas flows on the Yamal-Europe pipeline from Russia reversed the direction eastward instead of westward through Germany.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

[waldron] 03/11/2021 10:47

ENGIE : Deutsche Bank sticks Neutral
11/02/2021 | 01:22pm GMT


In a research note published by James Brand, Deutsche Bank gives a Neutral rating to the stock.

The target price has been raised to EUR 13.50 from EUR 13.

[adrian j boris] 03/11/2021 08:57

Engie plots Chilean wind farm

Published 03 November 2021 Last Updated 03 Nov 2021 03:49

Tags Renewables Latin America

Carmen Arroyo Nieto



Engie Energia Chile has begun the permitting process for a 173.6MW wind farm in the Chilean region of Los Lagos

[waldron] 03/11/2021 07:44

Nord Stream 2 Is Still Months From Easing Europe’s Gas Woes

Patrick Donahue, Bloomberg News



(Bloomberg) -- Russia’s Nord Stream 2 may need a few more months to clear remaining red tape before the controversial pipeline begins pumping natural gas to Germany to help ease Europe’s energy crunch.

The Baltic Sea project, which has raised concerns over the Kremlin’s control of energy supplies to the continent, is complete and awaiting certification from German authorities. Russian President Vladimir Putin has pledged to step up gas supply -- and said Nord Stream 2 can be activated “the day after” regulatory sign-off.

However, the pipeline might not be approved until May 8 if regulators use all the time they’re allowed. Whether the bureaucrats would be willing to accelerate the process if Europe’s energy woes intensify remains to be seen.

Soaring energy prices coupled with below-capacity deliveries in recent weeks have prompted accusations from European officials that Russia is curbing supply to pile pressure on authorities to grant certification for the new link.

The political dial is unlikely to move. The German government under outgoing Chancellor Angela Merkel has been steadfast in its support for the project over the objections of the U.S. and some European Union partners, as well as Russia’s neighbor Ukraine.

With Olaf Scholz, a Social Democrat whose party has firmly backed the pipeline, seeking to form a new government to succeed her, a shift in policy is unlikely.

Here’s a look at what to expect:

German Approval

Germany’s Federal Network Agency has until Jan. 8 to issue a draft decision on certification, the end of a four-month window after the paperwork was submitted to German authorities.

Approval appears to be a foregone conclusion after the Economy Ministry in Berlin issued an assessment last month saying that Nord Stream 2 poses no risk to the energy supply of Germany and the EU.

EU Finding

The draft decision will then be handed over to the European Commission for review, particularly on whether the pipeline meets EU rules stipulating that the gas-transport business is separate from production and sales -- a process known as unbundling.

A group of senior European Parliament lawmakers wrote a letter to EU Energy Commissioner Kadri Simson last month warning that Nord Stream 2 doesn’t conform with unbundling requirements. They called for a “clear and robust” adherence to European energy rules.

But the Commission’s finding isn’t binding, limiting the scope to halt the project. More likely is a delay. The EU has two months to reach a conclusion, which can be extended for another two months.

Only then can Germany’s regulator grant certification -- potentially putting Nord Stream 2’s starting date well into next year.

“If the German regulator allows supplies tomorrow, deliveries will begin the day after tomorrow,” Putin said in Sochi last month.

Political Backing

Opposition to the pipeline, particularly among eastern EU member states such as Poland, remains strong, and the government in Warsaw last month called on the Commission to launch a probe into possible market manipulation by Nord Stream 2 owner Gazprom PJSC.

The EU executive arm said it’s quizzing gas producers and suppliers as it examines “all allegations of possible anti-competitive conduct” to check whether current price increases are related to antitrust breaches.

A political demise of the project is all but ruled out. Merkel agreed in a declaration with the U.S. that Germany will take action if Putin weaponizes energy, but there is little intention in Berlin to shut down the pipeline.

Scholz is holding talks to form a government with the Greens and pro-business Free Democrats, both of which were outspoken opponents of Nord Stream 2 on the campaign trail. But as the largest party in the government, the SPD would almost certainly block any language in a coalition accord that would endanger the project.

[waldron] 25/10/2021 13:53

25 Oct, 15:21

Nord Stream 2 certification requires legitimacy for exploitation, says German ambassador

The construction of Nord Stream 2 was fully completed on September 10

YEKATERINBURG, October 25. /TASS/. The Nord Stream 2 gas pipeline should be certified legitimately for its acceptance into service, German Ambassador to Russia Geza Andreas von Geyr told reporters.

"As far as I know, from the technical viewpoint the construction of Nord Stream 2 has been completed, and it is ready for being accepted into service, with the certification issue currently relevant. The certification should be legitimate and clean, once the procedure is passed the acceptance of Nord Stream 2 into service may be under consideration," he said when asked when the German regulator will allow supplies via Nord Stream.

The construction of Nord Stream 2 was fully completed on September 10. Before pumping can commence, the operator of the project should submit certificates of technical norms conformance to the Stralsund mining authority. It should also be registered as an independent transport operator - the Federal grid agency is to issue certification by January 8, 2022.

The agency cannot prohibit gas pumping, but if it starts before the registration is finalized the operator will be fined.


This registration is obligatory for meeting the norms of the EU Gas Directive.

[ariane] 25/10/2021 09:36

(MT Newswires) -- Veolia (VIE.PA), together with a consortium of investors, on Oct. 22 entered a purchase agreement for the acquisition of Suez (SEV.PA) at 20.5 euros ($23.88) per share, following a put option deal in June.

Under the deal, the new Suez company would generate roughly 7 billion euros in revenue. Meanwhile, shareholders of the new Suez will include investment funds GIP and Meridiam with a 40% stake each, as well as Caisse des Dépôts et Consignations Group holding a 20% stake.

The board of Suez authorized the signing of the purchase agreement on Oct. 21, based on the report from Finexsi as an independent expert.

Completion of the deal is expected to occur at the end of January 2022, subject to customary closing conditions, including the settlement and delivery of Veolia's tender offer for Suez shares.

[grupo guitarlumber] 24/10/2021 14:47

Upcoming events on ENGIE


november/10/2021 Q3 2021 Earnings Release

[grupo guitarlumber] 24/10/2021 13:52

Nord Stream 2 can be launched without certification procedure

Source : 112 Ukraine

In particular, high gas prices and the beginning of the heating season may push the European Union to such a decision.

14:12, 24 October 2021

112 Agency

Adviser to the Minister of Energy of Ukraine Olena Zerkal stated the risk of launching the Russian Nord Stream 2 gas pipeline without a certification procedure, taking into account the situation on the European energy market.

This was discussed in an interview with Zerkal, Radio Liberty reports.

In particular, high gas prices and the beginning of the heating season may push the European Union to such a decision.


"There is such a risk. If no other options for solving this crisis are proposed, maybe they will take a risk.There will be a G20 meeting at the end of next week. They will also discuss how countries will overcome this energy challenge. Because Russia always takes advantage of crisis situations. And this perfect storm, which we now see, is used very well by Putin," Zerkal said.

According to her, the profits of the Russian state concern Gazprom in the first half of the year amounted to more than 10 billion.

It became known earlier that the first string of the Nord Stream 2 gas pipeline is filled with technical gas and is ready for operation.

[grupo guitarlumber] 23/10/2021 03:12

In a research note, UBS analyst Sam Arie maintained his recommendation on the stock and advises Buy.


The price target is changed upwards from 15.00 EUR to 15.50 EUR.

[waldron] 19/10/2021 21:56

WORLDOIL



French utility to throttle household energy usage during peak demand

By Francois de Beaupuy on 10/19/2021

PARIS (Bloomberg) --As Europe faces an energy crunch that’s pushed wholesale natural gas and power prices to record levels, French utility Engie SA is launching a trial of new contracts that would curb peak demand from households.

The company aims to have more than 1,000 residential customers equipped with its demand-response systems this coming winter, Herve-Matthieu Ricour, who is in charge of Engie’s residential customers, said in a press conference in Paris on Tuesday. In three or four years, it hopes to have enough households enrolled to trim electricity consumption at peak times by about 100 megawatts, “the equivalent of a small thermal power station,” he said.

Devices installed in customers’ homes would, on demand from French grid operator RTE, halt electrical radiators for a maximum of 10 minutes, Ricour said. “That will have no effect on the comfort of clients,” but could mean that power plants designed to operate only at times of peak demand don’t have to be switched on, he said.

These so-called load-shedding contracts could reduce carbon emissions as well as saving customers money, he said.

[sarkasm] 19/10/2021 17:25

Engie wins 50 MW of onshore wind repowering projects in Germany
Engie Deutschland's Karstaedt wind park in Brandenburg, Germany. Image by Engie Deutschland.

October 19 (Renewables Now) - The German subsidiarity of French energy group Engie SA (EPA:ENGI) has secured two projects to repower 50 MW of older onshore wind parks in the states of Brandenburg and North Rhine-Westphalia as part of the September tender of the Federal Network Agency.

The first project includes the replacement of 20 old turbines with a combined capacity of 26 MW in the municipality of Karstaedt, Brandenburg, with seven turbines totalling 39.2 MW, Engie Deutschland said on Monday. The company has been operating the wind park since 2001.

The other project concerns a 10.4-MW wind farm in Loevenich, North Rhine-Westphalia where Engie will replace four of the eight AN BONUS-/Siemens turbines each of 1.3 MW with two new turbines of 5 MW each.

The two repowering projects received permits under the German Federal Immission Control Act in July and early preparatory works will be launched in 2021.

Engie Deutschland operates 13 wind farms across Germany, develops wind and solar projects and has a direct marketing portfolio of 3.5 GW.

[sarkasm] 19/10/2021 17:23

Engie Chile seeks permit to modify 300-MW solar project, add storage
Solar power plant. Source: Gamesa Electric

October 19 (Renewables Now) - Engie Energia Chile SA, part of French electric utility group Engie SA (EPA:ENGI), is seeking an environmental permit to modify its already approved 300-MW solar PV project by reducing the number of panels and adding battery storage.

Engie’s Chilean branch first secured the permit for the project, named Pampa Camarones, in 2014, and proceeded to build a 6.24-MWp solar plant as part of the first phase. The site is located in Chile’s northernmost region Arica y Parinacota.

In the fresh application, Engie Chile said it wants to keep the first solar farm and squeeze in extra 300 MW worth of solar panels within the permitted territory.

In its 2014 permit, the company was allowed to install some 1.2 million modules, each of around 300 Wp. The modified design incorporates a little over 547,500 modules of around 655 Wp, which will enable the second plant to reach 359 MWp in direct current (DC), or about 300 MW in alternating current (AC), Engie said in the filing for the new permit.

The Pampa Camarones II project would be constructed in two stages, with each adding 150 MW of solar power and 90 MW of battery storage. Engie Chile also plans to modify the route of one of three transmission lines it was allowed to install in 2014.

The modification will require Engie to put up an investment of USD 210 million (EUR 180.3m) in the project, according to the filing.

(USD 1.0 = EUR 0.858)

[waldron] 18/10/2021 06:05

Nord Stream 2: The Russian pipeline that everybody’s talking about

Published Mon, Oct 18 20211:47 AM EDT

Silvia Amaro
@Silvia_Amaro
cnbc

Key Points

The gas pipeline is finished, but it is waiting regulatory approval before it
can start providing the 55 billion cubic meters of natural gas to Europe every year.

Some European lawmakers are fiercely opposed to the deal and do not want regulators to approve it.

The debate over what to do with Nord Stream 2 has gained even more attention in recent weeks as energy prices soar across Europe.

[ariane] 17/10/2021 15:05

Only German Permit Needed to Turn On Nord Stream 2 Gas Flow, Russian Envoy Says

5 hours ago (Updated: 4 hours ago)
Sputnik International, 17.10.2021

LONDON (Sputnik) - Russia's Nord Stream 2 gas link with Germany is only a permit away from supplying extra gas to fuel-strapped Europe, the Russian ambassador to the UK said in an interview with the BBC.

Andrei Kelin told a BBC show with Andrew Marr that Russia was waiting for a go-ahead from Germany to start pumping natural gas under the Baltic Sea. The undersea pipeline was completed last month.

Asked whether Russia would send more gas westward through Ukraine, Kelin said that deliveries via that route had exceeded contractual obligations by 10% and a further increase could damage the pipeline.


He denied claims that Russia was trying to choke off gas flow through other pipelines to force Germany to allow Nord Stream 2 to start operations. He said any suggestions that Russia was using gas for political leverage were absurd.

Nord Stream 2 is a joint venture of Gazprom, Royal Dutch Shell, OMV, Engie, Uniper, and Wintershall. The project is designed to carry natural gas from Russia to Germany beneath the Baltic Sea. On 10 September, Russia's Gazprom announced that the construction of the pipeline was completed.