French energy company ENGIE and technology giant Google said they had agreed to undertake a 12-year 100 MW corporate power purchase agreement to support Scotland's Moray West offshore wind development project. As part of this deal, ENGIE will provide Google with more than 5 TWh of green power from Moray West, which is an offshore wind farm project of nearly 900 MW that is due to begin generating power from 2025.
(Reuters) -French power company Engie on Thursday raised its full-year net income guidance, sending its shares higher, as the impact of an energy price surge driven by the Ukraine war offset government efforts to cap the amount consumers pay. Other energy providers throughout Europe have reported high or record profits after supply disruption caused by Russia's invasion of Ukraine drove gas and power prices to record levels in August. Shares in Engie rose as much as 6.1% in early trade and were up 3.6% at 1122 GMT, topping France's blue-chip CAC 40 index.
Engie North America has bought 33 early to late-stage projects from Belltown Power U.S., the company said in a statement, including 2.7 GW of solar with 0.7 GW of paired storage and 2.6 GW of stand-alone battery storage. "The 3.3 GW of battery storage projects will be a critical enabler of flexibility and supports the balance of the grid to improve its reliability and resilience," head of Engie North America Dave Carroll said.