FINANCE

Good results for the first half of 2024

By ENGIE - 02 August 2024 - 07:00

In a “back-to-normal” market environment, ENGIE achieves good financial results. FY 2024 Guidance upgraded.

 

Business Highlights

  • Energy market settling at a new normal
  • More than 1GW of additional renewables capacity in H1 and 6.9GW under construction
  • Renewables pipeline grew to 95GW at end-June 2024
  • Successful integration of BRP with 800MW of battery capacity completed in H1 2024
  • Approval by the Chilean regulator for conversion of one coal-fired unit, a stage in our full exit from coal in Chile in 2025
Resultats-H1-2024-EN
over-the-years-image

“In the face of a market returning to normal conditions, ENGIE has once more delivered very strong H1 results (…). This financial performance demonstrates the power of our integrated model and showcases our operational capabilities(…). More than ever, ENGIE reiterates its commitment of an energy transition affordable to all.“

Catherine MacGregor, CEO

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BESS

 

  • Last August, ENGIE acquired Broad Reach Power, a Houston-based company specializing in battery storage, which has since become one of our subsidiaries. Total: 350 MW of operational assets, 880 MW of assets under construction expected to be operational by the end of 2024.
  • Last April, the first turbines of the Moray West offshore wind farm were installed. This is the Group's second large-scale offshore wind farm (882 MW), following Moray East (commissioned in 2021). This project will supply 1.33 million households, meeting 50% of Scotland's electricity needs.
  • On May 7th, the substation for the Yeu and Noirmoutier Islands offshore wind farm was inaugurated: 4,000 tonnes of metal, which met the sea in June, will transmit electricity produced by the 61 wind turbines of the future 500 MW park to approximately 800,000 French households by 2035. Along with the Dieppe – Le Tréport park, this is ENGIE's largest offshore wind project under construction in France.
  • On May 2nd, 2024, ENGIE and EDP's joint venture, Ocean Winds, won 1.3 GW of offshore wind projects in Australia, which will supply 1 million households in the state of Victoria and avoid 5.3 million tons of CO2 emissions.