Engie is slowing down new US renewable energy projects due to tariff uncertainties

From Yahoo Finance: 2025-05-16 11:04:00

French utility company Engie is slowing down new renewable energy projects in the US due to uncertainties around tariffs on solar and battery materials. This is to ensure clarity on pricing for customers. Existing projects are unaffected, but future ones are on hold pending clarity on the Inflation Reduction Act. Engie’s CEO highlights the importance of the IRA in boosting the green energy economy and hints at redirecting capital to other markets if uncertainties persist. The company has 8.5GW under construction across more than 100 projects at the end of March 2025. Engie reported a 0.5% increase in EBIT to €3.7bn in the first quarter of 2025, but full-year EBIT might not match due to various factors. The company maintains its 2025 forecast for net recurring income. ENGIE North America partners with CBRE Investment Management on a 2.4GW battery storage portfolio in Texas and California, with ENGIE retaining a controlling share. The portfolio consists of 31 projects across ERCOT and CAISO territories. NHOA Energy and ENGIE start construction on a 400MWh BESS in Belgium.



Read more at Yahoo Finance: Engie slows US renewable energy projects amid tariff uncertainties