Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. France
  4. Euronext Paris
  5. ENGIE
  6. News
  7. Summary
    ENGI   FR0010208488


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

ENGIE : and BASF sign power purchase agreement for renewable energy in Europe

11/29/2021 | 05:40am EST
  • Long-term PPA over 25 years
  • Total volume amountsup to 20.7 terawatt hours
  • Renewable energy for low-emission chemical production

ENGIE and BASF have signed a 25-year Power Purchase Agreement (PPA) for renewable energy in Europe. Under the PPA, effective as of January 1, 2022, ENGIE will provide BASF with up to 20.7 terawatt hours of renewable electricity in total throughout the term of the agreement.

Multiple European BASF sites will be supplied from ENGIE's renewable project portfolio in Europe. The electricity will initially come from onshore wind farms located in various sites throughout the Spanish territory in which ENGIE acts as equity investor or energy manager. In the further course, ENGIE will have the option to either deliver power from existing Spanish assets or from future onshore and offshore wind farms.

"BASF and ENGIE have been working together for many years. With this agreement we take a significant next step on our path to climate-neutral chemical production. One important lever is replacing fossil-based electricity with renewable electricity. This long-term contract with a key player in the European energy market secures substantial volumes of electricity from renewable sources for BASF. At the same time, it makes BASF an enabler for green energy triggering additional projects for renewable power

in Europe," said Dr. Martin Brudermüller, Chairman of the Board of Executive Directors of BASF SE.

Catherine MacGregor, CEO of ENGIE, said: "Thanks to our large, diverse and growing portfolio of renewable energy production, ENGIE is able to provide carbon-free energy and electricity to its clients, including leading multinational companies such as BASF. It demonstrates our ability to accompany them on their own path to carbon neutrality, an achievement we are very proud of. This contract will deliver steady economic and environmental value in the long run for both partners."

BloombergNEF, the reference in terms of strategic analysis in the field of energy transition, ranks ENGIE first position at the end of July 2021 for signed corporate PPAs. At the end of September, ENGIE has already signed new Corporate Power Purchase Agreements for a total volume of 1.9 gigawatts since the beginning of the year (versus 1.5 gigawatts for the full year 2020), to provide major industrial and tech companies with renewable power.

This agreement is fully aligned with ENGIE's long-term strategy to develop renewables and BASF's climate protection goals. BASF aims to reduce its greenhouse gas emissions by 25% by the year 2030 compared with 2018 and to achieve net-zero emissions by 2050.

From 2030 onwards, BASF wants to implement low-emission technologies, suchas CO2-free methods for the production of hydrogen and electrically heated steam crackers, which will significantly increase BASF's demand of renewable power.

Blockchain certification with WizTrust

  • ENGIE HQ Press contact:

    Phone. France : +33 (0)1 44 22 24 35

    Email: engiepress@engie.com

  • Investors relations contact:

    Phone. : +33 (0)1 44 22 66 29

    Email: ir@engie.com


Engie SA published this content on 29 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 November 2021 10:39:01 UTC.

ę Publicnow 2021
All news about ENGIE
08:34aENGIE : Taking action together - every day counts! Our new campaign explained…
07:07aCHRISTEL HEYDEMANN : Heydemann on course to become first woman to lead Orange -sources
01/21Schneider Electric, Engie to Partner on Green-Hydrogen Storage
01/20ENGIE : “A modern and comprehensive social agreement”
01/20FUNDAMENTAL EMPLOYMENT RIGHTS AND SO : ENGIE signs a new global agreement with three inter..
01/19Engie Partnership To Explore UAE Hydrogen Project With OCI
01/19Fertiglobe Signs Collaboration Agreement with Masdar and ENGIE
01/17Belgium can extend life of nuclear reactors if it acts soon, watchdog says
01/17ENGIE : Ocean Winds, an ENGIE JV, awarded new seabed rights for offshore wind in Scotland
01/17ENGIE : Ocean Winds, an ENGIE JV, awarded a new seabed rights for offshore wind in Scotlan..
More news
Analyst Recommendations on ENGIE
More recommendations
Sales 2021 61 057 M 69 257 M 69 257 M
Net income 2021 3 063 M 3 474 M 3 474 M
Net Debt 2021 25 650 M 29 095 M 29 095 M
P/E ratio 2021 11,0x
Yield 2021 6,12%
Capitalization 32 738 M 37 131 M 37 135 M
EV / Sales 2021 0,96x
EV / Sales 2022 0,91x
Nbr of Employees 171 000
Free-Float 72,4%
Duration : Period :
ENGIE Technical Analysis Chart | ENGI | FR0010208488 | MarketScreener
Technical analysis trends ENGIE
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 19
Last Close Price 13,55 €
Average target price 16,39 €
Spread / Average Target 21,0%
EPS Revisions
Managers and Directors
Catherine MacGregor Chief Executive Officer & Director
Pierre-Franšois Riolacci Group Executive Vice President-Finance
Jean-Pierre Clamadieu Chairman
Yves Le GÚlard Chief Information & Digital Officer
Shankar Krishnamoorthy EVP-Strategy Innovation & Industrial Development
Sector and Competitors
1st jan.Capi. (M$)
ENGIE4.09%37 131
SEMPRA1.98%43 079
E.ON SE-1.05%35 676