Engie
| File:Engie logo.svg Engie logo | |
| Company type | Société Anonyme |
|---|---|
| Industry | Electric utilities |
| Predecessor | Gaz de France, Suez |
| Founded | July 22, 2008 |
| Headquarters | La Défense, Courbevoie , France |
Area served | 48 countries worldwide, including 27 in Europe |
Key people | Gérard Mestrallet (CEO at rebranding in 2015), Isabelle Kocher (CEO 2016–2020) |
| Products | Electricity production and distribution, natural gas, nuclear energy, renewable power, district heating, petroleum-related services, waste management, facility decommissioning |
Number of employees | 96,454 (2022) |
| Website | www |
Engie SA (branded as ENGIE) is a French multinational corporation specializing in electric utilities, with its headquarters located in La Défense, Courbevoie. The company’s portfolio encompasses electricity production and distribution, natural gas, nuclear energy, renewable power sources, district heating, and services related to the petroleum sector. Engie operates across both upstream activities—including engineering, sales, operations, and maintenance—and downstream processes such as waste management and facility decommissioning.
Engie delivers electricity across 27 countries in Europe and extends its reach to 48 nations worldwide. Established on July 22, 2008, through the combination of Gaz de France and Suez, the firm’s heritage dates back to the Universal Suez Canal Company founded in 1858. By 2022, Engie employed 96,454 personnel globally and reported revenues amounting to €93.86 billion.
The company is publicly traded on the Euronext stock exchanges in Paris and Brussels and is included in the CAC 40 index. From 2016 until 2020, Engie was under the leadership of Isabelle Kocher, who guided a strategic pivot away from coal-based operations towards significant investments in renewable energy and services supporting the energy transition. Despite these shifts, fossil fuels continue to represent a substantial portion of the company’s core business.
Background (prior to 2006)
Before merging in 2006, Engie existed as two distinct French multinational entities: Suez S.A. and Gaz de France.
Suez ranks among the oldest global multinationals, with roots tracing back to 1822 through the Algemeene Nederlandsche Maatschappij ter begunstiging van de volksvlijt, and notably the establishment of the Compagnie universelle du canal maritime de Suez in 1858, which constructed the Suez Canal. The modern Suez S.A. was created in 1997 following the merger of Compagnie de Suez with Lyonnaise des Eaux.
Gaz de France was founded by the French government in 1946 alongside Électricité de France (EDF). With the liberalization of European energy markets, Gaz de France expanded its offerings into electricity markets by providing combined natural gas and electricity products. In July 2005, its shares were partially listed on the Paris Stock Exchange, generating €2.5 billion for the French state.
Formation of GDF Suez (2006–2008)
On February 25, 2006, then-French Prime Minister Dominique de Villepin revealed plans to merge Suez with Gaz de France to establish the largest global liquefied natural gas company. Given that the French government held over an 80% stake in Gaz de France at that time, new legislation was necessary to allow for privatization and merger procedures. Initially opposed by Nicolas Sarkozy—who preferred a tripartite arrangement involving Italy's Enel—he ultimately endorsed the government's merger plan.
The proposed merger met considerable political resistance from left-wing parties and labor unions worried about potential price hikes. In August 2006, an unprecedented total of 137,449 amendments were filed aiming to stall legislation; however, the government successfully prevented a filibuster.
Law No. 2006-1537 enacted on December 7, 2006 authorized Gaz de France's privatization. Subsequently, on September 3, 2007, Gaz de France and Suez finalized merger terms entailing an exchange ratio of 21 Gaz de France shares for every 22 Suez shares through absorption of Suez by Gaz de France.
To address antitrust concerns raised by the European Commission, both companies divested significant assets: Gaz de France sold approximately a 25% stake in Belgian electricity producer SPE for €515 million to Centrica; meanwhile, Suez reduced its holdings in gas transporter Fluxys and divested its Belgian gas subsidiary Distrigas to Eni.
GDF Suez (2008Template:En dash2015)
Formed on July 22, 2008, GDF Suez quickly became the second-largest utility company worldwide, generating annual revenues exceeding €74 billion. The French government’s ownership in GDF was reduced from 80% to slightly above 35% within the newly created entity. Meanwhile, water and waste operations were separated into the publicly listed Suez Environment, with GDF Suez maintaining a partial ownership interest.
In 2009, the European Commission imposed a €553 million fine on both GDF Suez and E.ON due to agreements concerning the MEGAL pipeline. This penalty was notable as one of the Commission’s largest fines and its first targeting the energy industry.
By October 2009, GDF Suez achieved the 6th position on A.T. Kearney and BusinessWeek’s "World's Best Companies" ranking, standing as the top European company on the list.
On August 10, 2010, GDF Suez combined its Energy International division with its operations in the UK and Turkey alongside International Power, forming the largest independent power producer globally. The merged company remained listed on the London Stock Exchange, with GDF Suez retaining a 70% share.
December 2010 saw GDF Suez become a founding participant in Medgrid, a consortium dedicated to developing a Euro-Mediterranean electricity network designed to channel renewable energy from North Africa to Europe. This project aligns with the German-led Desertec initiative and supports the advancement of a European Supergrid.
In April 2012, GDF Suez announced plans to acquire the remaining 30% stake in International Power, finalizing the deal by July that year. Financial advisory services were provided by Rothschild and Ondra Partners for GDF Suez, while Barclays, Morgan Stanley, and Nomura advised International Power.
On August 9, 2013, through its Energy Services branch, GDF Suez took over Balfour Beatty’s UK Facilities Management unit, Balfour Beatty WorkPlace. This acquisition was followed by the purchase of Lend Lease FM in 2014, significantly expanding its capabilities in managing Private Finance Initiative (PFI) assets across the UK.
GDF Suez becomes Engie: 2015 – present
On April 24, 2015, GDF Suez underwent rebranding to become Engie, aiming to broaden its global footprint and tackle challenges related to energy transition, as articulated by CEO Gérard Mestrallet. Concurrently, its subsidiary International Power was renamed Engie Energy International.
In July 2015, Engie secured a 95% stake in Solairedirect, increasing its solar photovoltaic capacity from 125 MW to 486 MW.
On March 2, 2017, Engie acquired Keepmoat Regeneration for £330 million, establishing a new division focused on places and communities that integrates energy services and regeneration efforts under the leadership of former Keepmoat CEO Dave Sheridan.
GDF Suez was ranked 13th out of 92 oil, gas, and mining companies regarding indigenous rights and Arctic resource development.
In April 2019, Engie purchased a 90% interest in Brazil’s Transportadora Associada de Gás (TAG) for €7.7 billion. TAG operates approximately 2,800 miles of pipeline—accounting for nearly half of Brazil’s gas infrastructure—representing Engie's most significant acquisition since International Power in 2010 and reinforcing its strategic emphasis on energy infrastructure in key markets.
In February 2020, Engie’s board announced it would not support CEO Isabelle Kocher’s reappointment.
By 2021, Engie ranked fiftieth on the Arctic Environmental Responsibility Index (AERI), which evaluates environmental performance among extractive companies operating north of the Arctic Circle.
July 2021 marked Engie's internal reorganization into four divisions: Renewables, Energy Solutions, Networks, and Thermal & Supply. Additionally, it established Equans, consolidating all technical services—including electrical systems, HVAC, mechanical works, digital & IT solutions, and facilities management—under one umbrella.
In November 2021, Engie divested Equans to Bouygues for €7.1 billion.
In August 2023, Engie expanded its portfolio by acquiring Broad Reach Power, a battery storage company based in Houston.
Controversies
Engie's association with the Russian energy giant Gazprom came under intense examination following Russia's 2022 invasion of Ukraine and the subsequent sanctions imposed by Europe. In 2021, Gazprom-related contracts represented roughly one-fifth of Engie's worldwide gas sales, underscoring the company's reliance on Russian energy sources. After experiencing supply interruptions, Engie initiated arbitration proceedings against Gazprom Export LLC toward the end of 2022, alleging contractual violations and seeking compensation and penalties.
Business Model Evolution
Beginning in 2014, Engie embarked on a strategic transformation by scaling back exploration in fossil fuels and significantly increasing investments in renewable energy sectors such as solar, wind, geothermal, biomass, hydroelectric, and nuclear power, along with energy efficiency services.
By 2015, Engie halted investments in new coal-fired plants and announced plans to divest €15 billion worth of assets. The proceeds were redirected toward low-carbon and distributed energy initiatives. The company committed €22 billion to expanding renewable energy capacity, enhancing heating and cooling networks, and advancing decentralized energy technologies.
In 2016, CEO Isabelle Kocher presented Engie's strategic focus on three pillars: decarbonized energy (substituting oil and coal with renewables and cleaner natural gas), decentralized energy (generating power closer to consumption points), and digitalized energy (leveraging big data and digital tools to optimize efficiency and grid management). This vision led to the launch of Engie Digital and a commitment to invest €1.5 billion in digital innovations and emerging energy technologies.
Engie also adopted an open innovation approach through its "Engie Fab" program, fostering developments in smart grids, Internet of Things applications, green mobility solutions, energy storage systems, and hydrogen technologies.
Between 2016 and 2018, the company invested €15 billion into these new ventures, financing these efforts through the sale of coal assets as well as upstream oil and gas operations.
Strategic Plan 2019–2021
In 2019, Isabelle Kocher introduced Engie's roadmap for 2019 to 2021 with the ambition to establish the company as a global frontrunner in the zero-carbon transition by accelerating renewable energy investments. The strategy reaffirmed Engie's complete withdrawal from coal-related activities and outlined a €12 billion investment plan for renewables. This was partially supported by asset disposals worth €6 billion, including coal power plants.
The €12 billion investment was allocated as follows: €3 to €3.3 billion dedicated to gas infrastructure; €4 to €5 billion aimed at client services and solutions; and €2.3 to €2.8 billion targeting renewable projects. The plan sought to add approximately 9 GWh of production capacity, aiming for a total installed renewable capacity between 52 and 64 GW by 2026.
Kocher highlighted the development of "energy transition as a service" tailored for large corporations and metropolitan regions, which she described as propelling the "second wave" of the energy transition through carbon reduction initiatives. This segment was identified as representing a market opportunity valued at $1 billion. Furthermore, Engie intended to streamline its geographic footprint by exiting operations in 20 countries out of its existing 70 markets, concentrating efforts on around 20 countries and 30 metropolitan areas mainly across Southeast Asia and Africa.
France
Engie ranks as France's second-largest electricity producer after EDF through subsidiaries acquired from Suez such as Compagnie Nationale du Rhône (CNR), Electrabel, and Société hydroélectrique du Midi (SHEM). As of December 2011, roughly 75% of Engie's electricity output within France originated from low-carbon sources, predominantly hydroelectricity and wind power.
The company expanded its renewable energy holdings by acquiring controlling interests in firms like Compagnie du Vent, Nass & Wind's wind farm operations, and Erelia. Additionally, Engie operates a natural gas-fired combined cycle power facility (DK6) located in Dunkirk. It is also developing three gas-powered thermal plants at Fos-sur-Mer, Montoir-de-Bretagne, and Saint-Brieuc alongside a solar installation project in Curbans. These developments aimed to achieve an overall production capacity of 10 GW by 2013.
International
Engie holds a significant position in electricity generation worldwide, ranking as the leading producer in Belgium and the Netherlands through its subsidiary Electrabel, which stands as the fifth-largest electricity producer in Europe. The company is also the foremost privately-owned power generator in both Brazil and Thailand, operating through majority ownership of Engie Brasil and Glow Energy. Its operations extend across North and Latin America via Suez Energy International, as well as throughout Europe and Asia.
The company’s energy production portfolio is diversified, encompassing thermal, nuclear, combined heat and power (CHP), wind, hydroelectric, and biomass facilities. Engie is engaged in developing a nuclear power plant in Sinop, Turkey, valued at $15.8 billion, in collaboration with partners Itochu and Mitsubishi Heavy Industries. Since 2012, Engie has been present in Australia’s energy retail market, initially under Simply Energy before transitioning to Engie Australia.
In November 2016, Engie formed a partnership with Moroccan energy company Nareva to develop between 5,000 and 6,000 megawatts of energy infrastructure across North and Western Africa from 2020 to 2025. The following month, Engie’s Azzour North One Independent Water & Power Project commenced full commercial operations in Kuwait, establishing itself as the nation’s most efficient electricity provider.
In January 2017, Engie achieved contract award and financial closure for Saudi Arabia’s Fadhili independent power project (IPP), recognized as the country’s most efficient cogeneration facility.
Coal-fired power plants
In October 2015, Engie declared it would cease constructing new coal-fired power plants. CEO Gérard Mestrallet confirmed that projects with existing signed contracts would continue, but all other initiatives were halted. This decision led to the cancellation of coal projects at Ada Yumurtalik in Turkey and Thabametsi in South Africa. By February 2016, Engie divested its shares in Indonesia’s Paiton power plant and India’s Meenakshi power plant while shutting down the Rugeley power station in England.
In May 2016, CEO Isabelle Kocher announced a gradual phase-out from coal-based generation, including plans for either closing or selling Australia’s Hazelwood Power Station, which ultimately ceased operations in March 2017. Additionally, Engie sold its Polaniec coal plant in Poland to Enea. By February 2019, the company confirmed its full withdrawal from all coal-related activities.
Renewable energy
At the close of 2016, renewable sources represented 19.5% of Engie’s overall energy production mix. This included hydropower alongside solar, wind (both onshore and offshore), biomass, and geothermal energy.
Since 2016, Engie has secured multiple solar and wind projects globally: a 338 MW solar installation in India, a 209 MW project in Mexico, and a 40 MW solar facility in Peru. Construction also commenced on the Kathu solar park in South Africa with a capacity of 100 MW.
In 2016, Engie invested in Heliatek, specializing in organic photovoltaics. The following year it acquired complete ownership of La Compagnie du Vent and took a 30% stake in Unisun, a Chinese solar enterprise. In December 2016, Engie inaugurated its largest international hydroelectric project to date—a 3,750 MW facility located in Brazil.
The company advanced its geothermal portfolio by developing its first international geothermal plant in Indonesia as well as France’s initial marine geothermal station based in Marseille during 2016. In 2017, it secured three geothermal exploration permits within Mexico.
By February 2019, Engie announced plans to expand its renewable capacity by an additional 9 GW by 2021 to intensify investments focused on low-carbon energy solutions. In May that year, Engie joined forces with Portuguese utility EDP to create a joint venture equally owned by both parties for offshore wind development; this partnership currently has 1.5 GW under construction with another 4 GW planned.
Engie's Willogoleche Wind Farm (119 MW) began operating in South Australia in July 2019. The company also manages gas-fired power stations Pelican Point (500 MW) and Dry Creek (156 MW), along with Canunda Wind Farm (46 MW) within the same region.
In June 2023, following shifts prompted by Russia's invasion of Ukraine and evolving energy policies, Belgium and Engie agreed to extend the operational lifespan of the country’s nuclear reactors by an additional ten years.
Renewable gas
Engie oversees the entire biomethane value chain, collaborating closely with farmers from the initial project development phase through to distribution. The company aims to invest €2 billion in renewable gas initiatives by 2030, with a goal of injecting 10% of this volume into gas networks and achieving an annual biomethane output of 5 TWh.
Natural gas
Engie is active throughout the entire natural gas supply chain, spanning exploration, production, and distribution. Its assets include:
- Europe's second-largest gas transmission network
- The continent's largest gas distribution system
- The fifth-largest LNG portfolio worldwide
- Europe’s top LNG importer
- The second-largest operator of LNG terminals in Europe
In 2016, Engie restructured its long-term gas supply agreements with Statoil to better reflect shifting market prices in Europe. Additionally, it secured new international contracts: one with UkrTransGaz for gas transmission and storage services in Ukraine, and another with AES Andres to boost LNG and natural gas sales across the Caribbean. The floating storage regasification unit (FSRU) named Neptune was deployed to support Turkey’s inaugural floating LNG import terminal.
Following an LNG supply contract with Beijing Gas, Engie is investigating underground gas storage options in China to address seasonal consumption fluctuations. In June 2017, its bunkering vessel Engie Zeebrugge achieved the first ship-to-ship LNG refueling operation at Belgium’s port of Zeebrugge.
As part of its commitment to decarbonization, Engie divested its UK shale gas exploration permits to petrochemical company Ineos in March 2017. By May that year, it entered exclusive negotiations to sell a 70% stake in Exploration & Production International (“EPI”) to Neptune Energy.
Engie has also made progress in biomass-to-gas innovation by entering a collaboration agreement with Göteborg Energi and co-investing in the Ambigo dry biomass-to-gas facility located in Alkmaar, Netherlands. As a co-investor in the ultimately canceled Nord Stream 2 pipeline project, Engie recorded a €987 million impairment charge in April 2022.
Energy services
With a workforce of 90,000 employees dedicated to energy efficiency and environmental solutions, Engie provides a broad range of services including:
- Engineering: advisory services, feasibility analysis, project oversight, and client assistance
- Systems and maintenance: electrical system installation, industrial upkeep, HVAC services, and system integration
- Energy services: improving energy efficiency, multi-technology maintenance contracts, cogeneration solutions, and facility management
- Residential services: affordable energy options, performance enhancement programs, renewable energy integration, and thermal renovation projects
- Smart city initiatives: development of urban heating and cooling networks, cutting-edge technology deployment, optimized energy sourcing strategies, and reduction of building carbon footprints
- Microgrids and decentralized energy: localized production-consumption frameworks for residential, commercial, and industrial sectors; supply solutions for isolated locations; eco-district energy management
- Sustainable mobility: promotion of alternative fuels such as natural gas vehicles (NGV), bioNGV, hydrogen; installation of electric vehicle charging infrastructure; transport system development; intelligent transit planning
In March 2017, Engie expanded its presence in electric mobility by acquiring Dutch EVBox, a prominent provider of electric vehicle charging solutions.
Engie holds a 50% stake alongside Axium Infrastructure US (50%) in a long-term concession agreement to manage sustainable energy operations for Ohio State University’s campus comprising 485 buildings in Columbus.
Student housing
In 2019, Engie entered into an agreement with the University of Leicester to deliver 1,164 new residences for students, renovate a grade II listed structure to serve as office and study areas, build a multi-level parking facility, and establish a new centre dedicated to teaching and learning.
As of 31 December 2018:
- French State (23.64%)
- BlackRock (5.02%)
- Caisse des dépôts et consignations (1.83%)
- CNP Assurances (0.99%)
- Employees of the company (3.97%)
- Public float (63.57%)
- Treasury shares (0.98%)
Divisions
In April 2019, Engie restructured its operations into four main segments to support its zero-carbon transition "as a service" approach: Thermal, Infrastructures, Customer Solutions, and Renewables. Additionally, it launched Engie Impact, dedicated to strategic initiatives for its largest clients.
Engie functions through both geographic and cross-functional units:
- 11 regional units: Africa, Latin America, North America, Asia Pacific, Benelux, Brazil, China, Northern Europe, Southern Europe, Eastern Europe, "Génération Europe" (covering Belgium, France, Germany, Italy, Luxembourg, Netherlands, Poland, Portugal, Spain, UK), Middle East, Southern Central Asia and Turkey, United Kingdom.
- 8 units within France: "France BtoB", "France BtoC", "France Renewable Energy", "France Networks", Natural Gas Transport (GRTgaz), Natural Gas Distribution (GRDF), LNG terminals (Elengy), Natural Gas Storage (Storengy).
- 5 global units: International Exploration and Production, Global LNG operations, Global Energy Management & Sales (GEMS), Tractebel Engineering, GazTransport & Technigaz (GTT).
Subsidiaries and investments
- Altiservice Engie
- Engie Australia
- Engie Axima
- Engie Cofely
- Engie Ineo
- ENGIE IR Holdings LLC
- Engie Impact
- Engie Electrabel
- Engie Endel
- Engie Fabricom
- Engie Global Markets
- Engie Home Services
- Engie IT (Information & Technologies)
- Engie Lab
- Engie MtoM
- Engie Réseaux
- ENGIE Solutions
- Solairedirect
- Tractebel Engie
- Engie Energy International
- Engie EPS
- ENGIE Mobisol
GrDF
GrDF stands as a prominent gas distribution company within France and across Europe. It is responsible for constructing, operating, and maintaining the natural gas infrastructure that serves its customers. The subsidiary employs roughly 12,000 individuals; Edouard Sauvage has held the CEO position since 2017.
Engie Cofely
Specializing in energy efficiency and environmental services, Engie Cofely employs about 12,000 people and generates €2.5 billion in revenue. It plays a significant role in supporting Engie's energy transition objectives. Jean-Pierre Monéger serves as its CEO.
Engie IT
Established in 2012 under the leadership of CEO Jean-Michel Carboni (2012–15), Engie IT consolidates the group's IT departments into a unified subsidiary. Previously managed by the DSI with revenues of €1.35 billion in 2012, this reorganization led to a turnover close to €600 million by 2013.
Key statistics
Revenue: €60.1 billion (2019)
Revenue distribution by region:
- North America: €4.5 billion
- Latin America: €5.3 billion
- Europe: €47.3 billion
- Middle East: €1 billion
- Africa: €0.2 billion
- Asia and Oceania: €1.7 billion
Revenue breakdown by sector:
- Client Solutions: €21 billion
- Renewable Energy: €2.7 billion
- Networks: €6.6 billion
- Thermal: €4 billion
- Other sectors: €25.8 billion
Installed capacity: 104.3 GW (2018), with the following composition:
- Natural gas: 55%
- Renewable sources: 27%
- Coal-fired power: 7%
- Nuclear power: 6%
- Other sources: 5%
Electricity generated: 420 TWh (2018)
Workforce size: 171,100 employees
Employee distribution by region:
- North America: 6,300
- Latin America: 14,300
- Europe: 137,200
- Middle East: 3,100
- Africa: 3,500
- Asia and Oceania: 6,700
Employee allocation by business area:
- Client Solutions: 119,350
- Renewable Energy: 4,600
- Networks: 22,500
- Thermal activities: 5,200
- Other business lines: 19,450
Governance
The senior management team at Engie consists of:
- Claire Waysand, Executive Vice President and Group General Secretary, currently acting as interim CEO pending the appointment of a permanent CEO
- Catherine MacGregor, who assumed the role of CEO as of January 2021
- Bankole Cardoso, serving as Chairman
The group executive committee is composed of the following members:
- Claire Waysand, Executive Vice President and interim CEO
- François Graux, Deputy General Secretary and Group General Counsel
- Paulo Almirante, Executive Vice President and Chief Operating Officer responsible for Brazil, NECST, and MESCAT Business Units; temporarily sharing CEO responsibilities with Judith Hartmann and Claire Waysand
- Judith Hartmann, Executive Vice President and Chief Financial Officer, overseeing publicly traded subsidiaries GTT and coordinating activities with Suez; also leading Corporate Social Responsibility initiatives
- Gwenaëlle Huet, Executive Vice President in charge of Renewable and Hydrogen Business Units in France as well as the North America Business Unit
- Olivier Biancarelli, Executive Vice President and Chief Executive Officer of Tractebel, managing the Global Business Line Customer Solutions and Engie Impact
- Franck Bruel, Executive Vice President responsible for UK, LATAM, and NORAM Business Units
- Ana Busto, Executive Vice President overseeing Brand & Communication
- Pierre Chareyre, Executive Vice President managing GEM, Generation Europe, B2C France, Benelux Business Units; accountable for the Thermal Global Business Line
- Pierre Deheunynck, Executive Vice President in charge of Human Resources, Transformation, Corporate functions, Global Business Support, Global Care, and Real Estate
- Didier Holleaux, Executive Vice President responsible for Elengy, GRDF, GRTgaz, Storengy, China and APAC Business Units; heads the Gas & Power Networks Global Business Line
- Shankar Krishnamoorthy, Executive Vice President leading Strategy & Innovation, Industrial Development, Research & Technology, Procurement; also overseeing the Africa Business Unit
- Yves Le Gélard, Executive Vice President and Chief Digital Officer managing Group Information Systems
- Wilfrid Petrie, Executive Vice President and CEO France B2B; supervising the France Réseaux Business Unit
Engie's board of directors comprises 13 members:
- Six individuals appointed by shareholders: Bankole Cardoso, Fabrice Brégier, Françoise Malrieu, Ross McInnes, Marie-José Nadeau, Lord Ricketts of Shortlands
- One representative from the French State: Isabelle Bui
- Two members nominated by the French State: Patrice Durand and Mari-Noëlle Jégo-Laveissière
- Three representatives elected by employees: Christophe Agogué, Alain Beullier, Philippe Lepage
- One employee shareholder representative: Christophe Aubert
The board is supported by four dedicated committees focusing respectively on audit; appointments and remuneration; ethics along with environmental and sustainable development matters; and strategy combined with investment and technology.