Isabelle Kocher, chief executive of Engie, says a “fundamental repositioning” is complete at the start of a critical year for the French energy company. As part of her three-year plan that will run to the end of 2018, the company has cut costs, reduced its exposure to carbon-intensive industries and from markets most exposed to fluctuating prices. At the same time, it has increased its exposure to renewable energy, regulated markets and digital technologies. Since the start of 2016, Engie has sold or closed more than 10GW out of 16GW of coal production, brought 6GW of renewable energy online and secured a further 6GW. Low-carbon activities now represent more than 90 per cent of earnings before interest, taxation and amortisation, ahead of target, says the company.
FT 23rd Jan 2018 read more »