Engie Maintains Strong Presence in US Renewable Energy Market Amidst Policy Uncertainty
Despite President Trump's pause on climate legislation spending, Engie, the French power giant, remains bullish about the US renewable energy market. In 2024, the company secured 4.3 gigawatts of power purchase agreements (PPAs) globally, including 1.5 GW in the US spanning eight projects.
"The US continues to demonstrate strong demand for renewable energy contracts," said Edouard Neviaski, Engie's Executive Vice President. "While some uncertainty exists around specific project development, customer interest remains high."
Although Trump has expressed reluctance towards wind energy expansion, Engie maintains an 8 GW wind and solar farm portfolio in North America, with ongoing development projects. Neviaski acknowledges the uncertainty in the wind sector but anticipates increased development in other renewable segments.
"We expect battery-integrated solar projects to gain traction due to falling material costs and accelerated deployment of renewable technologies," he added. "Battery storage is projected to experience rapid growth in 2025."
Despite policy challenges, Engie views the US as a significant contributor to its PPA portfolio in the coming years. The company remains optimistic about the long-term potential of the US renewable energy market.