A particular region of international growth in Networks has been Latin America, where, in addition to gas, we are also building power transmission lines. A key area of value creation from renewables is the ability to commercialize energy with new and innovative solutions for customers, and we have made great progress on this front. Current positions of Catherine MacGregor To conclude on Thermal, let me highlight the demothballing of two Dutch gas units, demonstrating this fleets flexibility to take advantage of market opportunities. Operationally in 2020, the group continuously evolved processes to tackle COVID, and we maintained high health and safety standards for both occupational and process safety. And moving now to our international networks, where we are leveraging the deep networks experience we have in Europe. I would like to pay tribute to their mobilization, which has enabled us to: We reshaped the portfolio by investing 7.7 billion CapEx and by disposing of 4.2 billion of assets. Access to customer sites was much reduced during the strict lockdowns of the second quarter 2020, and we were not able to perform various services. European utility giant Engie named oil & gas industry veteran Catherine MacGregor as its new CEO with a remit to lead the French group's ambitious renewables and energy transition plans. - Play an important role in ensuring security of supply for France and Europe From 2013 to 2016, she also served as President Europe & Africa at Schlumberger, before being promoted in 2017 to President of the Drilling business, while based in London. We also posted higher financial costs. On the other hand, we, obviously, want stability in a power system. Very yes, good question. Simply log into Settings & Account and select "Cancel" on the right-hand side. Hosted by His Excellency Ilham Aliyev, President of the Republic of Azerbaijan, my dear friend His Excellency Parviz Shahbazov, Minister of Energy of the Republic of Azerbaijan, and Kadri Simson, EU Commissioner for Energy, this is an important forum for advancing Europes #cleanenergy ambitions. For the first part of the transactions, you mentioned the first buyout of or rather the buyout of a part of your minorities in Latin America. Lets now move to our Supply, Nuclear and Other activities. Sur cette version linguistique de Wikipdia, les liens interlangues sont placs en haut droite du titre de larticle. So if we have opportunities, which, from an energy transition makes sense, because, for example, they would replace coal or even worst, fuel assets and bring a solution of flexibility to the system is something that we might consider. Her vision on ENGIEs transformation and development, her industrial and international track record as well as her leadership and managerial skills will fully contribute to the achievement of the strategic orientations announced at the end of July, the companys statement reads. We continue to develop these activities, including through an acquisition of the worlds largest district cooling scheme in Dubai, allowing us to increase our DHC net installed capacity by 9%. In France, we continued to invest into the gas smart meters rollout. From 2013 to 2016, she also served as president Europe & Africa at Schlumberger, before being promoted in 2017 to president of the drilling business, while based in London. This is what I am committed to. We will now take our next question from Peter Bisztyga with Bank of America. In DHC networks, the worldwide market is expected to grow over 5% per year on average across the next nine the next five years. On the 100 million, quite frankly, there isnt any unusuals that you should assume. ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ETCompany Participants. So 25% of your business is in Thermal, and its an area that youre not particularly resting hugely behind if you look at the growth CapEx numbers. We are also expecting a year-on-year accretion resulting from the partial disposal of SUEZ and EVBox, which contributed negatively in 2020. Revenue declined on a gross basis by approximately 900 million for the full year. Turning to an update on the strategic review of part of our Client Solutions business that was launched in the second half of last year. Okay. Hopefully you can also take this into account? So firstly, theres step-up in CapEx in 2021 versus your sort of prior 10 billion 3-year plan. And hydrogen, massive tailwind for ENGIE, massive tailwind because of it goes hand in hand with renewables. Yes. Its were rounding numbers here, as you can see, because like I said, this is our target. So naturally, were landing more just below a 100 million figure for 2021. Yes. In 2021, we already have hedged 80% of the production at 46. La situation en France depuis plus de 50 ans Welcome again to Catherine. personalising content and ads, providing social media features and to In summer 2019, she joined the Executive Committee of TechnipFMC Group, to lead its engineering division. In the past Ms. MacGregor held the position of President-Drilling Group at Schlumberger NV and Personnel Director at Oilfield Services Co. Ltd. Ms. MacGregor received an undergraduate degree from cole Centrale Paris. So the what is happening here in France on biomethane is actually quite real, and so we are now looking at potentially having sufficient volume to fully displace what will be needed in gas at the 2050 horizon. https://lnkd.in/ea25krWt These projects could participate in the Belgium capacity remuneration market auctions in the second half of this year once approved by the European authorities. janvier 2021 en qualit de Directrice Gnrale. A key part of that strategy is its Ocean Winds joint venture with EDPR, which has set out its stall as a global leader in offshore wind. So we really have some really nice differentiation that we want to use in order, for sure, to be competitive but without sacrificing the return. We had very good results from our Italian assets due to higher level of ancillaries as well as to higher spreads captured throughout Europe. We have made the decision to stop the work to prepare for this such an extension. I would say that some of the things that were decided last year with these strategic orientations, I am very, very convinced that well address some of the shortfalls that can explain some of the ENGIEs underperformance in the past few years. The 3 gigawatt that we commissioned last year is in our key growth market for renewables, namely the U.S., Europe and Latin America. Soliane Varlet, gestionnaire de portefeuille de notre stratgie actions Women Leaders, s'entretient avec Catherine MacGregor, Directrice gnrale d'Engie, l'. Its two and probably a little bit more early. Engie will also capture opportunities resulting from recovery plans announced in Europe, notably related to the development of green gases (biogas and hydrogen). She is the only female CEO in France's CAC-40 stock index; French Finance Minister Bruno. These factors, together with a track record in decentralized infrastructure and a fast-growing position in renewable gases, means we are very well placed indeed. The contribution of French renewables was also lower due to the reduction in DBSO margins in 2020. Alongside renewables, we are also developing projects of up to 3 gigawatts of gas-fired generation. Ocean Winds to rival Orsted as Engie and EDPR unveil new offshore giant, Only female CEO of a major European utility sacked by board. LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and to show you relevant ads (including professional and job ads) on and off LinkedIn. Let me start with your second question, and then I will hand over to Judith, who will go through the details of the impairment impact, if you dont mind, Rob. With our strong local presence in key geographies and leading capabilities across the power generation value chain, including in energy management, which is a key for commercializing renewable energy, we are confident in our ability to drive long-term value creation from this renewables growth. This decision, effective as from January 1st 2021, is the result of a selection process, led by Jean-Pierre Clamadieu, Franoise Malrieu and members of the Appointments, Compensation and Governance Committee, following the highest standards of governance. Or does it have its own game plan? It is important to say that our renewables growth ambition is not about entering a gigawatt race. Premium access for businesses and educational institutions. So these are some of the things that we are excited about when we think about our network assets, and we like it. In our asset-light activities, we have a healthy order book and a project backlog of over 11 billion, offering good visibility for 2021. You mentioned diversity of vast diversity of business line, et cetera. Now the markets are looking at the remaining energy services. In addition, her appointment as a board member of Engie will be proposed for approval during the General Shareholders Meeting in 2021. Is it something that could be you realize value of and take advantage of low rates? We support credit card, debit card and PayPal payments. We are focused on driving our ESG performance using a wide range of metrics, three of which I will discuss here. So youve been talking about investment discipline. And sometimes, its okay to lose auctions if we dont get the right returns. As CEO of ENGIE, I am particularly proud of what we have achieved with our teams. G&A was up mainly because of acquisitions, asset commissioning and accelerated amortization for some French gas distribution assets. An example of the latter is the continued rollout of smart meters, where we installed an additional two million smart meters in France last year. In other words, direct stable energy is needed these hours. Is this happening to you frequently? Weve seen peers in renewables showing a bit of a lack thereof of investment discipline, among other thing, the auction in UK offshore. Aged 48 and a graduate of cole Centrale Paris, Catherine MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Ill start just to say that, I mean, youve identified, yes, two important aspects of our simplification efforts. MacGregor is poised to become the only woman leading a company in the CAC 40France's benchmark stock indexwhen she takes the reins at the utility Engie on Jan. 1. We intend to retain a higher ownership of our renewables project where it is strategically and economically rational as we indicated in our strategic orientation. I have two questions, and I continue with the trend, 1 for Catherine and 1 on the details for Judith, please. My first reaction with the bonus: Wow great ! What an insightful stay in India this week starting with a technical conference on #hydrogen #certification at #IndiaEnergyWeek then meetings with 7 industrial players developing hydrogen projects across #India. This included 1.7 gigawatt of hydro plants in Portugal, which benefit from long-term concession arrangements. Its coal exits. We think its important to have a system play on renewables. Overall, we have 100 cooling networks with a total installed capacity of 6.1 gigawatts and 300 heating networks of various sizes that distribute 19 terawatt hours yearly. But is it bad? Energy Solutions: we won major contracts in district heating and cooling networks but also in #greenmobility, notably with 5600 charging points for electric vehicles in Belgium As CEO, Catherine MacGregor will focus on defining and implementing the Group's strategic road map, in particular around the two priority areas announced in July 2020 by the Board of Directors: speeding up growth in renewable energies and energy infrastructure such as cooling and heating networks. Thank you for giving us our voices back with the amazing Diversity, Equity and Inclusion policies at ENGIE . And how quickly do you think it can actually contribute to your earnings, please? Regarding COVID, our projections assume restrictions similar to the fourth quarter 2020 and a gradual easing over 2021. Now from a also power system standpoint, gas today is also a very nice complement to renewables because it has brings the flexibility. Sign up for more in-depth articles and insights. Congratulations to all of our employees on the well-deserved bonus. Chief Executive Officer at NOVIGE AB, Mission Innovation Champion, Innovator of the Year, Seal of Excellence European Commission, Propeller Prize - Stena Line 2mo Glad to see all the progress. Often, its actually a very small proportion of coal that is being used, but it is indeed the case that it is part of our feedstock. ), has announced that he will retire on 31 CGG announced today (March 2) the appointment of Jrme Serve as Group Chief Financial Officer. We have strict criteria, and we will stick to them. Pour viter se gchis financier avec l'argent des franais Therefore our industry is [], ENGIE steps up its energy transition, targets renewables, MacGregor to supply RoRo equipment for K Lines LNG-powered newbuilds, Equinor and Engie press ahead with H2BE hydrogen project in Belgium, Engie names Catherine MacGregor as new CEO, MacGregor to supply all-electric RoRo equipment to H-Lines PCTCs, MacGregor to equip 4 more Hegh Autoliners multi-fuel PCTCs, In focus: Investments in oil, offshore wind hit a snag. Engie board set to appoint Catherine MacGregor as new CEO. Keep abreast of significant corporate, financial and political developments around the world. Ill start maybe with, again, the second one on renewables. Thank you, Sam, for your welcome message and your welcome question. For example, we signed several corporate PPAs with Amazon for a 650-megawatt global portfolio of wind and solar projects across the U.S., Italy and France. We will then consider next steps and review future ownership options for the new entity in the second half, maximizing value and acting in the interest of all our stakeholders. We also invested in #RenewableEnergy with the acquisition of 6 GW of solar and storage capacity projects in the US and signed an MOU to develop 3 GW of #wind power in Egypt. You can update your choices at any time in your settings. But is it bad? or Turning to our major focus areas starting with Renewables. Judith, you want to start with the EVBox question? Il serait pertinent de se concentrer sur l'aprs nuclaire, In Latin America, COI was up significantly, driven by the scope in effect and higher organic contribution of TAG, which, Im very pleased to say, has outperformed our expectations. click here. They represent a key long-term growth engine for the group. Compared to 2020 guidance, Im pleased that both EBITDA and COI stood above the ranges we indicated last summer. This growth will be partly offset by a lower benefit from the GFOM ruling in Brazil and by the assumed FX deterioration. You mentioned the COVID impact and how to think about it in 2021. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, We will now take our next question from Emmanuel Turpin with Societe Generale. On an organic basis, the business line saw 1% growth, which was a strong result considering that there were over 100 million of positive operational one-offs in 2019 from LDs on newly commissioned power plants in Brazil and Chile. I want to take advantage also to clarify on a question that I was asked earlier on the nuclear impairments and the impact on D&A. You have to keep in mind, about 200 million of that were related to SUEZ, which is now gone, of course. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. And lets now, indeed, look at our priorities for sustainable long-term value creation. Ladies and gentlemen, this concludes this conference call. COVID had little impact on Nuclear, and its contribution improved by 203 million, mainly reflecting higher achieved prices and lower OpEx. Recharge is part of DN Media Group. Were very pleased. Our greenhouse gas emissions from power production reduced 9% to 68 million tons as the share of coal has further decreased in 2019. We use cookies in a variety of ways to improve your experience, such as keeping NHST websites reliable and secure, personalising content and ads and to analyse how our sites are being used. Judith, you want to answer the second question? And I was interested to get your philosophy about minorities. Catherine, you are in a ENGIE is in a unique position, I think, as a gas network operator with a very attractive Renewables business. In Client Solutions, overall, we are expecting a strong recovery from COVID, albeit with a relatively slower recovery for asset-light activities. But just one observation is a key part of success, I think, for some of your peers has been laying out quite detailed guidance over a 3-year period. When expanded it provides a list of search options that will switch the search inputs to match the current selection. For cost savings, you can change your plan at any time online in the Settings & Account section. We assume up to 100 million dilution effect at the COI level from approximately 2 billion disposals in addition to previously signed transactions. French giant Engie has concluded its search for the new chief executive officer, naming Catherine MacGregor to the position. The 48-year-old MacGregor replaces Isabelle Kocher, who was ousted by the Engie board in February, ensuring that a woman maintains a place at the top table of a major European utility. We invested 1.5 billion growth CapEx in 2020, mainly in Brazil, on power transmission lines and for the acquisition of the remaining 10% in TAG. Catherine MacGregor joined the ENGIE group on January 1, 2021 as Chief Executive Officer. En juillet 2019, elle est candidate au poste de prsidente de Schlumberger, mais le conseil d'administration prfre nommer Olivier Le Peuch. At the event, we were pleased to highlight how #Masdar is working with our partners in Azerbaijan to develop world-class clean energy projects like the 230 MW Garadagh Solar PV Plant, with further agreements to develop up to 10GW of clean energy capacity across #onshorewind, #offshorewind, #solar, and #greenhydrogen projects. In emerging markets, the importance of gas is driven not just by economic growth but also by reducing exposure to higher emitting sources such as coal. Its a pleasure to welcome Catherine to ENGIE, and Im looking forward to executing our strategic plan together. Elle y dirige des activits de forage au Congo, en Mer du Nord[3], aux tats-Unis, en Malaisie, au Royaume-Uni et en France[4]. To Engie in my case. Harnessing 35 years of expertise to power the future of Energy and Water with data-driven solutions. Elle est ingnieur, diplme de l'cole centrale Paris, dont elle sort en 1995. analyse how our Sites are used. Elle y dirige des activits de forage au Congo, en Mer du Nord 3, aux tats-Unis, en Malaisie, au Royaume-Uni et en France 4. Its about 1% of French consumption that was injected, so and thats 2021 or 2020, rather. And youre right to point out that some of our DHC networks rely on a mix of entrance of feedstock. Simply log into Settings & Account and select "Cancel" on the right-hand side.