This is one of the most important transformations carried out by a French group. Resulting from the merger between Gaz de France and Suez in 2008 under the supervision of the French State, Engie has multiplied in ten years, turns strategic.
While the energy landscape in Europe has been overwhelmed by the massive fall in the prices of electricity and gas, Engie decided to gradually refocus. After several years of delay, Gérard Mestrallet and Isabelle Kocher, who are respectively the chairman of the board of directors and executive director, started modestly in 2013, and then accelerated in 2015, a strategy focused on the energy transition. The idea was to sell the so-called carbon – including coal-fired power plants, highly CO2 emitting – while focusing on the activities to be regular income, such as the renewable subsidized, or the gas network.
This strategy has gone through a programme of asset disposals colossal, for a total amount of 15 billion euros, which, beginning in 2018, have almost all been carried out. These include the sale of the coal-fired power plant of International Power, however, purchased at the price of gold in 2010, the activities of exploration and production of gas or, more recently, the assignment of a portion of its operations in the liquefied natural gas (LNG) in Total. Ms. Kocher also announced its intention to renounce to invest in the nuclear, while the group operates seven reactors in Belgium.
Strategy of disposals
“The assets have not been.., writes Pierre-Antoine Chazal, an analyst at Bryan Garnier. It is a tour de force for a group as a Engie you have done all these sales in three years. “At the same time, the group develops in the energy services, in particular in the direction of local communities, and renewable energy. “Engie has installed in 2017…