Engie, a French utility company, is expanding its renewable energy projects in the US and Europe, in response to the US government\’s $369bn package of tax breaks and incentives. Catherine MacGregor, the company\’s chief executive, believes that Europe should consider similar incentives in order to protect and promote their industry. She also believes that Europe should invest in grid infrastructure to support their push towards electrification, echoing warnings from other power groups. Engie reported record net profits of €5.2bn for 2022, and plans to more than double its renewables capacity to 80GW by 2030. The European Commission will unveil more specific proposals in mid-March.
Engie is expanding its renewable energy projects in the US and Europe in response to the US government\’s $369bn package of tax breaks and incentives. The package is spurring the company to pursue hydrogen and battery storage projects in an effort to create an independent green tech industry. Chief Executive Catherine MacGregor believes that Europe should consider similar incentives in order to protect and promote their industry, as well as invest in grid infrastructure to support their push towards electrification. Engie plans to more than double its renewables capacity to 80GW by 2030, and the European Commission will unveil more specific proposals in mid-March.
Source link
Join our Facebook page From top right corner.