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ENGI Energiser Investments Plc

0.65
0.00 (0.00%)
27 Feb 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Energiser Investments Plc LSE:ENGI London Ordinary Share GB00B06CZD75 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.65 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
0.60 0.70
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.65 GBX

Energiser Investments (ENGI) Latest News

Energiser Investments News

Date Time Source Headline
25/4/202307:00UKREGAIM Readmission - DRUMZ PLC
25/4/202306:00RNSNONDrumz PLC Chief Operating Officer Appointment
24/4/202311:10UKREGDrumz PLC Result of General Meeting
06/4/202310:00UKREGAIM Schedule One - Drumz plc
05/4/202310:40UKREGDrumz Plc Director/PDMR Shareholding
05/4/202306:00UKREGDrumz Plc Circ re Acquisition and ReAdmission to AIM
24/3/202307:00UKREGDrumz Plc Statement re Acuity's appointment of new partner
09/3/202311:59UKREGDrumz Plc Board Change

Energiser Investments (ENGI) Discussions and Chat

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Posted at 22/2/2024 08:35 by waldron
Engie raises targets for 2024
February 22, 2024 at 03:20 am EST

On the occasion of the publication of its 2023 results, Engie has raised its targets for 2024, now aiming for recurring net income, group share, of between 4.2 and 4.8 billion euros, and EBIT excluding nuclear power of between 7.5 and 8.5 billion.

For the year just ended, the energy group posted recurring net income, group share of 5.4 billion euros and EBIT excluding nuclear power of 9.5 billion, representing organic growth of 2.7% and 18.3% respectively.

These results testify to the progress we have made in executing our strategy, and confirm our ability to evolve in a volatile energy market environment", comments CEO Catherine MacGregor.

For 2023, the Board of Directors proposes to distribute 65% of the Group's recurring net income, representing a dividend of 1.43 euros per share. This proposal will be submitted to the AGM on April 30.

CercleFinance.com.
Posted at 07/11/2023 08:25 by adrian j boris
Engie Upgrades Outlook on Positive Performance, Reduced Risks
07/11/2023 8:00am
Dow Jones News

Engie (EU:ENGI)



Tuesday 7 November 2023


By Andrea Figueras



Engie raised its full-year guidance after what it called a continued good performance with reduced risks as it approaches the end of the year.

The French power utility on Tuesday said that it now expects recurring net income in a range of 5.1 billion euros to 5.7 billion euros ($5.47 billion-$6.11 billion), up from a prior forecast between EUR4.7 billion and EUR5.3 billion.

It now sees non-nuclear earnings before interest and taxes of EUR9 billion to EUR10 billion, while it previously anticipated EBIT excluding nuclear between EUR8.5 billion and EUR9.5 billion.

The company posted earnings before interest, taxes, depreciation and amortization of EUR11.9 billion, compared with EUR10.67 billion for the same period last year, while revenue fell to EUR61.8 billion in the period, down 10.2% organically on-year.

Non-nuclear EBIT was EUR8 billion, up from EUR6.3 billion, mainly driven by the units global energy management and sales as well as renewables.

Engie backed its dividend policy with a 65% to 75% payout ratio based on net recurring income and a floor of EUR0.65 a share for the 2023 to 2025 period.



Write to Andrea Figueras at andrea.figueras@wsj.com



(END) Dow Jones Newswires

November 07, 2023 02:45 ET (07:45 GMT)
Posted at 28/10/2023 06:36 by misca2
Analysts' Consensus

Mean consensus
BUY

Number of Analysts
15

Last Close Price
14.92EUR

Average target price
17.88EUR
Spread / Average Target
+19.80%

High Price Target
21.20EUR
Spread / Highest target
+42.07%

Low Price Target
15.30EUR
Spread / Lowest Target
+2.53%
Posted at 24/10/2023 09:07 by grupo guitarlumber
French Utility Engie to Report 'More Normalized' Q3 Results, Barclays Says
October 24, 2023 at 03:14 am EDT

(MT Newswires) -- Engie (ENGI.PA) is expected to post results showing a "more normalized" performance in the third quarter following the lack of unforeseen items in its pre-release, Barclays analysts said in a Tuesday note.

Based on the pre-release, Engie saw slightly milder weather in the third quarter, with improved nuclear availability in Belgium and marginally better hydrogen volumes in France. Barclays believes that the "extraordinary high" EBIT at Engie's global energy management and sales, or GEMS, segment in the first half will not be repeated in the third quarter.

The research firm forecasts a third-quarter group EBIT including nuclear of 1.28 billion euros, lower than the previous two quarters amid the assumption that Engie's GEMS business will contribute a 250 million-euro EBIT. For the first nine months of 2023, Barclays estimates Engie's group EBIT excluding nuclear at 7.96 billion euros, benefiting from "good" organic growth rates in its renewables segment, flex gen and retail businesses.

Consequently, the analysts expect the French utility to reiterate its full-year guidance. Engie will publish its third-quarter report on Nov. 7.

Barclays maintained its equal-weight rating on the stock, with a price target of 18 euros.
Posted at 21/9/2023 08:33 by adrian j boris
Engie Reportedly Enters Lightsource BP Auction
September 21, 2023 at 01:03 am EDT


Another suitor in the mix for Lightsource bp Renewable Energy Investments Limited (Lightsource BP) has surfaced and is set to give Palisade Investment Partners Limited (Palisade Investment Partners) a run for its money. DataRoom can reveal that French investor Engie SA (ENXTPA:ENGI) is also looking to pick up the business that is up for sale through investment bank Macquarie Group Limited (ASX:MQG). The understanding is that it could achieve a price close to $1 billion.

A roadshow was held through Asia around June for Lightsource and bids are now understood to be due next month.
Posted at 20/5/2023 04:44 by the grumpy old men
Engie reports encouraging quarterly results, marked by a clear improvement in margins, satisfactory cash generation and slight deleveraging.

The push in renewables continues with 5.5GW of capacity under construction. With the exception of two mega-projects in Egypt and Scotland, this deployment is scattered in dozens of small projects: this will a priori result in lower economies of scale.

Engie has already installed 38GW of renewable capacity, and plans to reach 80GW by the end of the decade. This is less ambitious than TotalEnergies' target of 100GW of renewable capacity by the end of the decade, but the group does not have a lucrative hydrocarbon portfolio to help finance its transition.

Engie has on the whole handled the energy crisis and the Russian problem remarkably well, unlike, for example, its counterparts across the Rhine. It still has to deal with the nuclear issue in Belgium and the financial leverage - its eternal thorn in the side.

This is what it will take to restore Engie's reputation in the long term. The share price in spring 2023 is exactly where it was in spring 2013. The operations generate cash, but not enough to finance investments and the distribution of generous dividends, while the margin profile has largely deteriorated.

The result over the last two decades has been a critical increase in debt, which is necessarily long and painful to bring under control. The economic debt - financial debt plus various provisions, for example linked to decommissioning - has reached €37 billion, i.e. more than fifteen times the free cash flow achieved in 2022.

Its average cost is already starting to rise under the effect of the rise in interest rates, from 2.73% to 3.95% over the last three months.
Posted at 18/5/2023 06:10 by waldron
Engie seeks new hydrogen projects in the UAE, Saudi Arabia and Oman


French energy company aiming for 4 gigawatts of green hydrogen capacity globally and more than 100 refuelling stations by 2030, executive says




Fareed Rahman
May 18, 2023


France’s Engie is keen to start new hydrogen projects in Saudi Arabia, the UAE and Oman as it aims for 4 gigawatts of green hydrogen capacity globally by 2030 amid energy transition strategies to cut emissions, a senior executive has said.

The Paris and Brussels-listed company has new projects planned in Asia, the Middle East, Africa and Europe, Stephan Gobert, Engie's senior vice president of hydrogen for Asia, Middle East and Africa, told The National in an exclusive interview.

“The Middle East region and specifically the GCC [Gulf Co-operation Council] is offering great potential … that's why we established the strategic alliance with Masdar and are studying a project at the moment in Ruwais for Fertiglobe,” he said.

“We hope to close the financial decision by the end of this year.”

Last year, Fertiglobe, the Abu Dhabi-based chemicals joint venture of energy major Adnoc and Netherlands-listed OCI, signed an agreement with Masdar as well as France’s Engie to co-develop a green hydrogen facility in the UAE for the production of ammonia.

As part of the agreement, the three companies will study the development, design, financing, procurement, construction, operation and maintenance of an industrial-scale and globally cost-competitive green hydrogen facility in Al Ruwais.

It will have a potential capacity of up to 200 megawatts and be operational by 2025, with Fertiglobe as the sole long term off-taker, the companies said at the time.

In 2021, Engie and Masdar also announced a $5 billion partnership to develop the UAE’s hydrogen economy as well as develop new projects throughout the region with a capacity of at least 2 gigawatts by 2030.

“We truly believe that there is a great future for hydrogen,” Mr Gobert said.

“The demand will be very high especially in the countries where they have strong targets to decarbonise, which is the case for Japan, Korea, the European Union and the US. There is a great potential and that's why we set ourselves a target by 2030.”


Hydrogen, which can be produced using renewable energy (green hydrogen) and natural gas (blue hydrogen), is expected to play a key role in the coming years as economies and industries transition to a low-carbon world to mitigate climate change.

French investment bank Natixis estimates that investment in hydrogen will exceed $300 billion by 2030.

Ambitious net zero targets announced by countries is also boosting demand for hydrogen. The US as well as the EU aim to reach net zero by 2050.

Governments are pressuring companies and industries to decarbonise their operations and there are obligations from banks to follow ESG (environmental, social and governance) key performance indicators while lending, which will boost demand for hydrogen, Mr Gobert added.

“There are also other sectors that are transforming to reduce emissions … power generation and transport … because they are preparing for the moment which is already happening in Europe where you will have to pay for your carbon dioxide emissions. That's the carbon tax, which will have a huge impact on the balance sheet of those companies.”



A carbon tax is a type of penalty that businesses will have to pay for excessive greenhouse gas emissions. The tax is usually levied per tonne of greenhouse gas emitted.

The company also has other targets, which is to reach more than 100 refuelling hydrogen stations globally in the next seven years and to build about 700km of dedicated pipelines and storage capacity to boost hydrogen infrastructure.

Engie currently has about 30 hydrogen refuelling stations in Europe with another 20 being installed.


“There is a good chance for the Middle East countries to export towards the European Union as well as South Korea, Japan and other countries,” Mr Gobert said, adding that the EU does not have enough capacity to install new renewables to produce hydrogen because the installed renewables are already feeding the grid.

“That is where we see there is a good chance for the Middle East to export towards the European Union, because here you still have land as well as good and affordable renewables.”

The UAE as well as other countries in the region are boosting investments in renewables as countries move to lower carbon economies.

The Arab world’s second largest economy is investing Dh600 billion ($163.5 billion) in clean and renewable energy projects over the next three decades as it aims to achieve net zero emissions by 2050.

The country is building the world’s largest solar plant in the Al Dhafra region of Abu Dhabi with a capacity of 2 gigawatts, as well as the Mohammed bin Rashid Solar Park in Dubai with a 5-gigawatt capacity.

Egypt, Saudi Arabia, Morocco, Jordan and Oman are also increasing investments in clean energy projects.

The UAE aims to be among the top 10 hydrogen-producing countries globally and plans to capture 25 per cent of the low carbon hydrogen key markets amid rising demand for the fuel, Sharif Al Olama, the ministry's undersecretary for energy and petroleum affairs, told the Abu Dhabi Sustainability Week in January.

The cost of producing of hydrogen is going down with OEM manufacturers of technology like electrolysers (for producing hydrogen) reducing price amid higher demand, Mr Gobert said.

The cost of renewable energy for the production of hydrogen is also dropping, making its production cheaper, he said.

Engie is a global player in low-carbon energy and services with operations in 31 countries. The company reported a net revenue of €29.2 billion ($32 billion) in the first quarter of 2023, up 14 per cent compared with the same period last year.


Updated: May 18, 2023, 5:00 AM
Posted at 20/3/2023 15:00 by waldron
ENGIE adds more than 650 MW to U.S. operations
Wind and solar projects bring ENGIE’s renewable capacity to more than 4.8 GW across North America

March 20, 2023 09:05 ET | Source: ENGIE North America

HOUSTON, March 20, 2023 (GLOBE NEWSWIRE) -- ENGIE North America (ENGIE) announced four projects reached commercial operation at the end of December 2022 with a total production capacity of 651 MW. The addition of these projects brings ENGIE’s renewable operations to more than 4.8 GW across the U.S. and Canada.

The portfolio additions include two Texas projects, the 300 MW Limestone Wind project in Navarro and Limestone counties alongside the 250 MW Sun Valley Solar project in Hill County northeast of Waco.

Dedication ceremonies to formally inaugurate Limestone and Sun Valley were held earlier this month, bringing together some 200 people including customers, landholders, local, state and federal representatives, community members and development partners, reflecting both the addition of 550 MW of clean energy to the grid, as well as the long-term commitments to the three counties which are expected to generate around $88 million in tax revenues over the life of the projects.

A further two solar projects totaling 101 MW came online in Halifax County, Virginia and New Castle County, Delaware, which was ENGIE’s first grid-scale project in that state.

“Maintaining momentum with our projects and meeting the expectations of our customers to help them deliver on their own Net Zero journey was and remains our key focus. Our proven ability to deliver consistently in a dynamic environment will be a critical differentiator over the next few years,” said Dave Carroll, Chief Renewables Officer of ENGIE North America. “Last year was a volatile one for the renewables industry, including sector-wide supply chain challenges, a rapidly evolving incentives landscape, inflation and all coupled with an accelerating commitment to a Net Zero future made for a lively twelve months, but one where our breadth and depth of the ENGIE team came through.”

Earlier in 2022, Procter and Gamble (P&G) announced a Power Purchase Agreement (PPA) with ENGIE for production from Sun Valley.

Jack McAneny, P&G Vice President Global Sustainability said at the time:

“Partnering on new renewable power projects brings long-term, zero emissions renewable electricity on-line and is an important strategy to help us achieve our goal of purchasing 100% renewable electricity. We are excited to work with ENGIE on projects like Sun Valley that progress our strategy and provide benefits to the local community.”

Last year also saw three customers announce PPA’s for Limestone – LyondellBasell, Stanley Black and Decker and Whirlpool Corporation.

LyondellBasell commented:

“LyondellBasell announced four power purchase agreements (PPA) during 2022 totaling 381 megawatts of renewable energy and the Limestone Wind Project was the first PPA in our portfolio. We are excited to see it beginning operations as this marks an important milestone for us in achieving our sustainability goals,” said Aaron Ledet, Senior Vice President, Olefins and Polyolefins Americas of LyondellBasell. “Renewable Electricity is a vital component of how we aim to deliver our greenhouse gas emissions reduction target, which is a 42% absolute reduction in scope 1 and 2 emissions by 2030, relative to a 2020 baseline.”

Stanley Black and Decker commented previously:

“Creating a more sustainable world and achieving carbon neutrality by 2030 requires a transition to renewable energy,” said Deb Geyer, Corporate Responsibility Officer for Stanley Black & Decker. “This project, operational by the end of 2022, will continue to support Stanley Black & Decker’s strategy to source 100 percent of its United States and Canada electricity needs from renewable power.”

Whirlpool Corporation commented:

“This latest wind project is an important part of our ongoing sustainability initiatives, adding additional clean, renewable energy to the electrical grid while helping to reduce the company’s carbon footprint,” said Whirlpool Corp. Sr. Director of Sustainability Beat Stocker. “Now that Limestone Wind is becoming fully operational, we have achieved an important step in matching 100% of our U.S. plant electricity emissions, taking us closer to our Net Zero by 2030 goal for our operations."

ENGIE has established a large and growing pipeline of wind, solar and storage projects across the U.S. and Canada, including two acquisitions last year that added some 50 early, mid and late-stage development projects to the portfolio.

“Globally ENGIE aims to add an average 4 GW of renewable capacity each year through 2025 and North America is poised to be a material contributor to that aspiration. We plan to almost double production capacity by 2025 across the U.S. and Canada,” said Carroll. “We are already in construction for many of our 2023 projects, including storage, which will become an increasing element of our portfolio.”

###

About ENGIE

ENGIE is a global leader in low-carbon energy and services. With its 96,000 employees, its customers, partners and stakeholders, the Group is committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions. Inspired by its purpose (“raison d’être”), ENGIE reconciles economic performance with a positive impact on people and the planet, building on its key businesses (gas, renewable energy, services) to offer competitive solutions to its customers. ENGIE (ENGI), is listed on the Paris and Brussels Stock Exchanges. In North America, ENGIE has delivered integrated, innovative energy solutions to public and private organizations for nearly half a century. We employ approximately 3,000 people focused on enabling our customers to become more sustainable and achieve their decarbonization targets through expert project delivery and competitive solutions. For more information on ENGIE in North America, please visit our LinkedIn page or Twitter feed, and
Posted at 24/8/2021 08:00 by la forge
ENGIE: Medium Term Transformation In Progress

Aug. 24, 2021 1:56 AM ETENGIE SA (ENGIY), ENGQF

Summary

ENGIE has agreed to the sale of its 11.5% stake in GRTgaz at an attractive RAB premium of c. 48%.

With other planned disposals also in progress, the strategic shift appears to be on track.

Yet, shares trade well below EU peers despite the re-rating potential and the c. 4% yield on offer.



ENGIE (OTCPK:ENGIY), a French-based global utility company supplying electricity, gas, and energy services, may have outperformed yet again at its H1 '21 results, but the key highlight was the disposal of its stake in GRTgaz for a c. €1.1 billion price tag (implying a considerable premium to the RAB ("regulated asset base"). Beyond the highly favorable valuation benchmark the sale provides for Engie's gas infrastructure assets, it also illustrates that management is progressing well on its medium-term strategy to simplify the company. As such, I am bullish on Engie's plans to create a more straightforward infrastructure/renewable-focused group over the medium term and see a clear re-rating path ahead. In the meantime, shareholders get paid a c. 4% dividend yield to wait.



Making Progress on GRTgaz with Latest Stake Sale

Alongside its earnings results, Engie has signed a binding agreement with Caisse des Dépôts and CNP Assurances (both already minority shareholders) for the sale of its 11.5% stake in GRTgaz (gas transmission in France). The agreement values the GRTgaz group's total equity at €9.75 billion or an enterprise value of €14.6 billion, implying a c. 12x EV/ EBITDA valuation. In turn, the sale price also implies a RAB premium of c. 48%, which is certainly impressive for a minority stake in gas networks. In addition to the partial reduction in Engie's holding, the transaction will also feature a simplification of the GRTgaz group structure, which will lead to GRTgaz taking full ownership of Elengy (up from c. 82% currently).


I view the transaction as a significant positive – not only does it represent another value crystallizing disposal for the group (implying a 1-2% positive impact on Engie's market cap), but it also helps to reduce Engie's net financial debt by c. €1.1 billion. From a broader perspective, the accretive sale also validates the case that there is value in the rest of the gas networks assets in the Engie portfolio despite the market remaining unwilling to capitalize the remaining c. 64% stake in GRTGaz at the implied deal multiple (note shares were slightly down post-announcement). Nonetheless, the deal is on track to close by year-end, and with similar disposals in the pipeline, I remain optimistic on a re-rating of the gas assets down the line.


Medium Term Disposal Plan on Track

Since the strategic shift outlined by management at its previous investor day, Engie has made impressive progress, disposing of its 29.9% stake in Suez for €3.3 billion and signing the sale of EVBox for c. €200 million, leading to a total of €3.6bn in the last year. Engie has since guided for a €9-10 billion disposal plan from 2021-2023, including Customer Solutions business Equans and another c. €2 billion tranche of disposals. On the former, expect steady news flow over the upcoming month – per recent news reports, Engie is kicking off an auction process for some of its services assets, with initial bids (expected in September) already valuing Equans in the €5-6 billion range.


On the other hand, there will be some dilution at the EBIT level from the medium-term disposal plan – management has guided for a c. €700 million EBIT dilution scenario over the 2021-2023 period, mainly from the planned Equans sale. On balance, however, I view the disposals as a net positive, as it helps to de-risk the overall group, and depending on how the sale of Equans is structured, Engie still has options to manage the dilution side of the rotation (e.g., by executing in stages). With commodity prices also on the rise, expect higher profitability for Engie's supply activity and potentially its IPP business as well, both of which should help offset any earnings headwinds ahead.

Strategic Transition to Infrastructure Underpins Incremental Upside

In addition to the disposal plans, shareholders also stand to gain from a focus on infrastructure-like activities such as regulated networks, renewables developed on the balance sheet, along with contracted heating/cooling and cogeneration. A simpler group structure producing a visible and steady earnings stream on which the market can apply similar multiples to other bond proxy utilities in the sector (e.g., renewables peers) would likely be accretive. Assuming successful execution, the strategic shift should support a material re-rating of Engie's other activities, supporting the case for value unlocking ahead.

Source: Engie Strategic Update Presentation Slides (2021)

Alternatively, the planned transition would also make Engie a compelling M&A target for infrastructure or oil & gas funds/companies (with a lower cost of capital) looking to redeploy capital away from fossil fuels. Furthermore, Engie is currently trading at a considerable valuation discount to peers Enel (OTCPK:ESOCF) and Iberdrola (OTCPK:IBDRY) despite operating out of northern Europe. Considering Enel and Iberdrola are tied to higher Italian and Spanish underlying sovereign yields, I think Engie should instead trade at a premium multiple (note French 10-year bonds are negative yielding while similar durations in Italy and Spain offer modest positive yields).
Final Take

Overall, I like where Engie is going with its strategy, and considering its progress on the planned disposals, I see further positive catalysts ahead. Yet, Engie shares have been range-bound in recent months, even moving down slightly after an excellent quarterly earnings release. This seems unjustified, especially with earnings already growing ahead of expectations, disposals coming in at good valuations, and a near-term catalyst in the form of the Equans sale ahead (targeted before year-end). Trading well below peers at the current EV/EBITDA of c. 7x despite a dividend yield of c. 4%, Engie remains a great pick in the EU utilities space.
Posted at 01/3/2021 08:44 by ariane
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Source: ENGIE | 15 minutes ago
ENGIE acquires 100 MW Concentrated Solar Power plant in South Africa

The plant is located in the Northern Cape of South Africa, which is also the location of ENGIE’s 100 MW Kathu CSP plant

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JOHANNESBURG, South Africa, March 1, 2021/APO Group/ --

ENGIE (ENGIE-Africa.com) is pleased to announce that it has reached an agreement to acquire from Abengoa a 40% equity stake in Xina Solar One, a 100 MW Concentrated Solar plant, as well as 46% of the Operations & Maintenance Company. The plant is equipped with parabolic trough technology and a molten salt storage system that allows for 5.5 hours of energy storage to provide reliable electricity during peak demand. Power is contracted through a 20 years Power Purchase Agreement with Eskom (South African Electricity Public Utility). Xina Solar One is supplying clean energy to more than 95,000 South African households and prevents the emission into the atmosphere of approximately 348,000 tons of CO2 each year.

The plant is located in the Northern Cape of South Africa, which is also the location of ENGIE’s 100 MW Kathu CSP plant. Xina Solar One increases ENGIE’s renewable footprint and is a further step to cementing its position as the leading Independent Power Producer in the country. Synergies between Xina and Kathu will be developed to further enhance the operational efficiency of both plants.

“With the acquisition of this project, ENGIE is pursuing its low carbon strategy. Xina augments the country’s installed peaking power and reduces its dependence on coal-fired electricity. The 100 MW CSP plant also contributes to ENGIE’s geographic rationalization by expanding its footprint in South Africa, where it is the leading Independent Power Producer with 1,320 MW of installed capacity.” says Sébastien Arbola, CEO of ENGIE MESCATA.

With the acquisition of this project, ENGIE is pursuing its low carbon strategy

Mohamed Hoosen, CEO of ENGIE Southern Africa commented: “ENGIE is valued as a highly skilled IPP and a long-term player in the South African power industry. We are adding an innovative high-performing plant and are increasing our CSP capacity. This investment will create value over the longer term while accelerating impact on the energy transition of our customers.”

Co-shareholders on Xina Solar One include Public Investment Corporation, a pension fund manager and a shareholder on ENGIE’s Kathu project (20%); Industrial Development Corporation, a development finance institution wholly- owned by the South African Government (20%); and Xina Community Trust, funded by the IDC (20%). Xina Solar One, which started commercial operation in August 2017, was built by Abengoa.

Completion of the transaction is subject to the fulfillment of certain conditions including merger control clearance from relevant competition authorities.

In South Africa, ENGIE has interests in a CSP plant (100 MW Kathu), a wind farm (94 MW Aurora), 2 solar photovoltaic plants (21 MW) and 2 thermal power peaking plants (670 MW Avon and 335 MW Dedisa).

Distributed by APO Group on behalf of ENGIE.

Press Contact:
Email: engiepress.mescat@engie.com

About ENGIE MESCATA:
ENGIE (ENGIE.com) has a presence of almost 30 years in the Middle East, South & Central Asia, Turkey and Africa region. In the Middle East, it is the regional leading independent power & water producer with a gross capacity of 30 GW of power and 5.5 million m3/day of water production, serving over 40 million people daily with power and 10 million with potable water from desalination. In Africa, the Group has 3.15 GW of power generation capacity in operation or construction and is South Africa’s first Independent Power Producer. It is a leader in the decentralized energy market, providing clean energy to more than five million people through domestic solar installations and local microgrids. ENGIE’s renewable portfolio exceeds 2,300 MW of power in India and Africa. In the Middle East, the Group is a regional leader in district cooling through Tabreed, in which it has a 40% stake, and which currently delivers over 1.4 million tons of cooling across 86 plants in the GCC. ENGIE is also a leading provider of Customer Solutions in the Gulf region and Morocco.

For more information : ENGIEMiddleEast.com and ENGIE-Africa.com.

About ENGIE:
Our group is a global reference in low-carbon energy and services. Together with our 170,000 employees, our customers, partners and stakeholders, we are committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions. Inspired by our purpose (“raison d’être”), we reconcile economic performance with a positive impact on people and the planet, building on our key businesses (gas, renewable energy, services) to offer competitive solutions to our customers. Turnover in 2020: 55.8 billion Euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris - World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).
Energiser Investments share price data is direct from the London Stock Exchange

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