Engie slows US renewable energy projects amid tariff uncertainties

French inferior institution Engie is reducing the gait of caller renewable vigor projects improvement successful the US owed to uncertainties surrounding tariffs connected imported star and artillery materials, arsenic reported by Reuters.

Engie's concern main Pierre-Francois Riolacci expressed concerns implicit the trouble successful determining the last terms for customers, which has led to this strategical slowdown.

Despite the hold successful caller projects, Engie's existing improvement pipeline remains unaffected.

The institution is seeking clarity connected the Inflation Reduction Act (IRA) for aboriginal projects that person not yet reached the last concern determination stage.

Engie CEO Catherine MacGregor highlighted the value of the IRA, which aims to boost the US greenish vigor economy, and noted that superior could beryllium redirected to different markets specified arsenic Brazil, Australia, India and the Gulf states if uncertainties persist.

The institution had 8.5GW nether operation crossed much than 100 projects nether renewables and BESS astatine the extremity of March 2025.

Engie reported a 0.5% summation successful net earlier involvement and taxation (EBIT) to €3.7bn ($4.14bn), excluding atomic power, successful the archetypal 4th of 2025.

However, Engie's concern main cautioned that full-year EBIT mightiness not lucifer the beardown show of the archetypal quarter, which benefited from precocious state and powerfulness prices and accrued wintertime demand.

The institution maintains its 2025 forecast for nett recurring income of €4.4bn to €5bn.

ENGIE North America has teamed up with funds managed by CBRE Investment Management (IM) connected a 2.4GW portfolio of artillery retention assets successful the US states of Texas and California.

ENGIE volition clasp a controlling stock and proceed to run and negociate the portfolio, which comprises 31 projects crossed territories of the Electric Reliability Council of Texas (ERCOT) and California Independent System Operator (CAISO).

ENGIE North America main renewables serviceman and elder vice-president Dave Carroll stated: "We are delighted that ENGIE and CBRE IM are partnering successful this industry-leading transaction, supporting 2.4GW of retention that volition enactment the increasing request for powerfulness successful Texas and California.

“The standard of this portfolio reflects ENGIE's commitments to gathering the vigor needs of the US and expanding the resilience of the ERCOT and CAISO grids."

In aboriginal May 2025, NHOA Energy, unneurotic with ENGIE, commenced operation of a 400 megawatt-hour (MWh) BESS successful Kallo, Beveren, Belgium.

"Engie slows US renewable vigor projects amid tariff uncertainties" was primitively created and published by Power Technology, a GlobalData owned brand.