Catherine, the floor is yours. Engie names Catherine MacGregor as new CEO - Offshore Energy ENGIE has developed a strong platform in Client Solutions from which we can tap into the growth in this space. Engie boosts asset sales as it targets 'doing less stuff' [Operator Instructions] We will take our first question from James Brand with Deutsche Bank. Following the launch of the new strategic orientation in July, ENGIE completed the disposal of its 29.9% shareholding in SUEZ in October. Catherine MacGregor joined the ENGIE group on January 1, 2021 as Chief Executive Officer. So when you will reinvest? We have not seen prices like this in many years. We are expecting this to happen in a matter of weeks, following the closing of the SPAC transaction. 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. Thanks to Faye Kirby and Rodica Roman for organizing the event and thanks to the many helpers! Est 53 centrales nuclaires qui vous donnent l'lectricit la moins chre au monde, I look forward to continuing to work closely with our brothers in Azerbaijan, and our partners across Europe and around the world, to deliver on our shared clean energy ambitions. We strengthened our leadership in green bonds having issued 2.4 billion green bonds in 2020 for a total of 12 billion since 2014. Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. 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. What are you looking at? The renewables COI, could you break that down, if you dont mind, into the change in hydro versus wind and solar in the 2020 numbers? Engie's new CEO sets out with the goal of simplifying the energy group The first one is on strategy. 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 SA (ENGIY) CEO Catherine MacGregor on Full Year - SeekingAlpha So Ill ask two questions. By 2050, over $15 trillion are expected to be invested in power generation globally with over 70% in renewables. Comptences clefs . So this is becoming real. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. We think, in general, gas is going to be important in this energy transition. The French group last year pledged to invest 12bn ($13.1bn) in its 2019-21 energy transition programme, and was on track to install 9GW of renewables in that period. Yes. Overall, the average cost of gross debt was 2.38%, down 32 basis points compared with December 2019. In Renewables, we expect growth from asset commissioning in the United States from higher achieved prices for French hydro and from the potential positive effect of the CNR concession extension. And if you look at what we announced on January 14 is indeed a smaller executive team, less members. So quite frankly, it is a normal run rate of dilution of 100 million when you look at a 2 billion debt reduction. And importantly, we reaffirm our dividend policy, which relies on a 65% to 75% payout ratio on the basis of net recurring income group share. Our group remains committed to Belgium and to contributing to the countrys security of supply. Good morning, everyone. Education Catherine MacGregor has obtained a degree from CentraleSuplec in 1995. Yes, Judith, just to follow up on the Nuclear, can I just ask setting aside the provisions and the cash payments against those which we know about, can I just ask, do you anticipate any positive free cash flow from the nuclear fleet now in the rest of its life, I mean, if you just look at operating cash flow and essentially operating CapEx that youve got to put in? #solvaylife #workculture #lovemyworkfamily, Celebrating our diverse HR team during the HR Seminar in UAE. Il serait pertinent de se concentrer sur l'aprs nuclaire, And then, of course, right after that, you have hydrogen. Let me know below So again, when you think about the business and the need to have a resilient power system, gas has actually a very critical role to play. These negative figures were partly offset by capital gains mainly coming from the SUEZ transaction. And I look forward to leveraging their strengths to deliver on a full agenda in such critical times for the energy industry and for ENGIE. #mixedfeeling :D Other generators like Uniper and Fortum have been very strong as well. Now this is mainly provided by fossils, the reason CO2 emissions are increasing since 2015, not decreasing. This button displays the currently selected search type. Regarding the organizational simplification, you mentioned complexity of the group. The first one is, following the impairment on Belgium Nuclear, could you indicate whether there will be any impact on depreciation and amortization going forward? We are experts in sourcing projects, in dealing with permitting, land ownership issues, financing, partnering, environmental assessment and all that good stuff as well as aspects of social acceptability, which is really important in the development of renewables as you know. I mentioned earlier two things actually. This growth will be partly offset by a lower benefit from the GFOM ruling in Brazil and by the assumed FX deterioration. COVID had little impact on Nuclear, and its contribution improved by 203 million, mainly reflecting higher achieved prices and lower OpEx. Its about 1% of French consumption that was injected, so and thats 2021 or 2020, rather. Delivering on decarbonization while ensuring reliability and affordability can only be achieved through a combination of centralized and decentralized solution and with a mix of energy sources. We are facing an unparalleled opportunity to play a clear and meaningful role in tackling climate change. This included 1.7 gigawatt of hydro plants in Portugal, which benefit from long-term concession arrangements. So can you be a little bit more specific about where the extra CapEx is being spent this year and how youve been able to ramp it up so quickly? In the summer of 2019, she chose to pursue her career in the energy industry by joining the executive committee of the TechnipFMC group to lead its onshore and offshore engineering and construction activities, Technip Energies. Yes. How quickly can that new CapEx sort of translate into earnings? First, you will hear from our new CEO, Catherine MacGregor, on the highlights of 2020, followed by our CFO, Judith Hartmann, on our financial performance. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Compare Standard and Premium Digital here. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Also on the same point, risking up or risking down in the future strategy, what is your view on how the risk profile for ENGIE should change going forward? 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. Long-time Schlumberger executive to join next year as French utility giant gears up in renewables. Battery storage is expensive, produces no net power, has a very high LCA and basically impossible at the needed grid size. So no impact there, of course, on G&A reduction and about 800 million of assets. And for the first time, to our Ocean Winds joint venture with EDPR, we commissioned both fixed and floating offshore wind. Not related to what I normally post, but I saw an article this morning from #NewstalkZB and thought it was brilliant. Higher D&A was mainly due to accelerated amortization of some distribution assets. This was mainly due to impairments, especially related to our nuclear reactors. At Climate Week NYC 2021, the CEO of ENGIE, Catherine MacGregor explains how ENGIE will actively participate in decarbonizing its emissions by 2030. And moving now to our international networks, where we are leveraging the deep networks experience we have in Europe. And then, of course, in terms of Thermal, we will be very opportunistic. A very fine, humane gesture that you promised your ENGIE colleagues. Katherine MacGregor - Biography Significant growth is also expected in the use of renewable gases to accelerate the energy transition. If you have an ad-blocker enabled you may be blocked from proceeding. And so obviously, a decision that we communicated today is based on a scenario where it is unlikely that the lifetime extension happens. She has spent her entire professional career working in the energy sector. Its the first step. That will put pressure on Ms MacGregor to make her mark . Yes. We are focused on driving our ESG performance using a wide range of metrics, three of which I will discuss here. On your two questions, 1 was on the tax rate. We also continued our relentless pursuit of simplifying the group. A short stay for a rich experience and deep learning. Welcome again to Catherine. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. Then potentially collaborate/partner with us for less than EUR 10 m in costs, together solving the crucially important 40% of the hours of the month. In addition, the extension of fair value accounting to a European gas contract and its related assets also led to a net impairment of 500 million. PDF CATHERINE MACGREGOR Directrice Gnrale - Engie We have some core competencies. Catherine Fiamma MacGregor on LinkedIn: ENGIE 9M 2022 Financial But time will tell. Jean-Pierre Clamadieu, Chairman of the Board of Directors, declared: On behalf of the Board and employees of the Group, I am pleased to welcome Catherine MacGregor and wish her full success in her missions. I just had indeed, I will stick to two questions as well, maybe a strategic 1 as well and a more detailed 1. Renewables showed continued progress and overall operational resilience to COVID with organic growth of 11% in 2020. #solvaylife #futureemployees #career #mockinterviews, Bringing some sun and fun to the Solvay Alpharetta site in February, employees and friends enjoyed an Hawaiian themed luau complete with ukulele music from Jason Chung and Ryan Carey. I think, as you pointed out, theres been a little bit of a race to gigawatts. or And finally, we also strengthened our position in the rapidly growing market of corporate PPAs with over 1.5 gigawatts of contracts signed in 2020. And hopefully, we can share more of that in May when we come back to you. 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. However, the gross COI evolution was negative 125 million mainly due to foreign exchange. To Engie in my case. The COVID impact on our thermal activities was minimal with lower demand mainly in Chile and Peru. These positive effects were partly offset by lower volumes mainly due to a decrease in availability of our Belgian assets caused by the last planned LTO maintenance works on Doel 1, Doel 2 and Tihange 1. Its two and probably a little bit more early. We completed the SUEZ transaction in October and launched further strategic reviews. Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6].
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