Present in 30 countries and employing more than 90,000 people worldwide, ENGIE is a €71.9bn energy group with activities spanning electricity generation and distribution, natural gas, petroleum, nuclear power and renewable energy.
ENGIE operates across the energy value chain, from production and infrastructure to sales. Its activities include renewable electricity and gas production, flexibility assets such as batteries, gas and electricity transmission and distribution networks, local energy infrastructure including heating and cooling networks, and energy supply to individuals, local authorities and businesses.
“We are proud to support ENGIE in diversifying its funding sources through this innovative export financing solution, which also strengthens our strategic European supply chain”Isaure de Vaumas, Head of Global Corporate Coverage for France and Benelux at Deutsche Bank
With its 2021 strategic plan, ENGIE set out the priorities to be given to investments supporting the energy transition. “We aim to become a leader in the energy transition, relying on a balanced energy mix in which gas and electricity complement each other to ensure a reliable and affordable energy transition,” states the company.4
According to ENGIE, it invests on average €12bn per year to achieve its net-zero carbon goal by 2045. As part of its growth strategy, the company aims to reach 95 GW of installed capacity in renewables and storage by 2030, supported by a €21–24bn growth investment programme over the 2025–2027 period.5
Figure 1: From global renewables and storage pipeline to meeting the 95 GW actual installed capacity 2030 target
Source: ENGIE
This Euler Hermes export financing contributes to strengthening this ambition by diversifying the group’s funding sources. It also provides ENGIE with a secured and flexible framework to source German technology, while contributing to Europe’s energy resilience.
“We are delighted by Euler Hermes’ confidence in structuring this innovative financing solution, which reflects the strength of our relationships with our German partners,” concludes Pierre-François Riolacci, ENGIE’s Executive Vice President in charge of Finance, ESG and Procurement. “We share a common ambition to reinforce European value chains and to help accelerate the electrification of uses, [which is] fully aligned with our goal of becoming the best energy transition utility.”6
“We are proud to support ENGIE in diversifying its funding sources through this innovative export financing solution, which also strengthens our strategic European supply chain,” adds Isaure de Vaumas, Head of Global Corporate Coverage for France and Benelux at Deutsche Bank.