0LD0.IL - Engie SA

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ENGIY, ONON and MUSA made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on May 26, 2023.

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Engie, Amazon inaugurate Italy's biggest agrivoltaic farm

MILAN (Reuters) -France's Engie and Amazon on Friday officially opened Italy's biggest agrivoltaic farm to supply green energy to the Italian unit of the e-commerce giant. The solar power farm, near the Sicilian city of Trapani, will create power through photovoltaic panels placed high above the ground in order to allow cultivation in the fields below. Engie and Amazon have signed a corporate power purchase agreement under which the bulk of the energy created by the 66 megawatt (MW) plant will go to the e-commerce group, they said in a joint statement.

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High power prices boost Engie earnings in first quarter

PARIS (Reuters) -French energy company Engie on Thursday said first-quarter earnings rose 30%, buoyed by high European power prices and strong trading activity, and said its full-year performance would likely come in at the top end of its forecast range. The company said earnings before interest and tax (EBIT), excluding nuclear, were 3.8 billion euros ($4.2 billion). "Engie has started 2023 pretty well overall, most of our activities grew over the first quarter," said Executive Vice President of Finance Pierre-François Riolacci.

European shares hit by rate rise concerns

(Reuters) -European shares slipped on Tuesday after strong economic data fuelled expectations of higher interest rates, while London-listed HSBC rallied on a quarterly profit surge. The rate-sensitive technology index fell 1.5%. "Inflation readings have come down, but there are signs that core inflation and services inflation are proving sticky," said AJ Bell investment director Russ Mould.

Belgium considers keeping oldest nuclear power stations running

The Belgian government is considering keeping its three oldest nuclear power stations running two more years than currently planned, Belgium's Energy ministry said on Friday. The government will ask operator Engie whether it would be possible to keep the plants Tihange 1 and Doel 1 and 2, which were opened in 1975, running until 2027 instead of closing them down in 2025 as planned. "The war in Ukraine and the problems in the French nuclear energy sector have made us look at ways to create more certainty and reduce risks in the energy supply," Energy ministry spokesman Jonas Dutordoir said.

Engie warns of hit from windfall levies, Belgian nuclear provisions

France's Engie warned on Tuesday of an earnings hit from European Union approved windfall levies and larger-than-expected provisions for dismantling Belgian nuclear plants, sending the energy company's shares sharply lower. Engie forecast the impact on its group EBITDA from windfall levies in France, Belgium and Italy would be as high as 0.9 billion euros ($957 million)in 2022 and up to 1.5 billion euros in 2023, mostly relating to nuclear operations. "Engie retains the possibility of contesting taxes that, in its view, do not comply with the legal framework and introduce unjustified discrimination between operators or energy sources, in particular in Belgium and Italy," it said in a statement.

ENGIE and Google strike power purchase agreement for Scotland's Moray West offshore wind development project

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.

Engie's shares gain as guidance upgrade offsets price caps

(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 buys 6GW renewables pipeline in U.S.

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.

Engie CEO: Winter 'quite comfortable' from gas standpoint

The situation for this coming winter in terms of security of gas supply is "comfortable", the chief executive of France's leading gas importer Engie said on Tuesday. "Today the situation for this winter is actually quite comfortable from the gas standpoint," Catherine MacGregor told the annual Future Investment Initiative (FII) conference in the Saudi capital Riyadh. "The situation of the security of supply in Europe is something we've been working on extremely hard even before the war broke out."

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ENGIE to build renewable hydrogen plant in Western Australia

MELBOURNE/OSLO (Reuters) -ENGIE said on Friday it will go ahead with plans to build a green hydrogen plant in Western Australia to feed an ammonia facility owned by Norway's Yara International, as the French firm looks to expand rapidly in green hydrogen. The project will use energy from solar panels and a small battery energy storage system at Yara's site to power a 10 megawatt (MW) electrolyser and make 640 tonnes of hydrogen per year, the companies and the government said in separate statements. Construction on the A$87 million ($58 million) Yuri project is due to start in November with first production expected in 2024, ENGIE said.

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ENGIY vs. OGE: Which Stock Is the Better Value Option?

Gazprom to pay Kremlin £8.6bn after record profits

Politicians wait to see whether Russia switches back on Nord Stream 1 gas supply to Europe

Gazprom prepares to cut off supplies to Engie as payment row escalates

PARIS (Reuters) -A dispute over gas supplies between Engie and Gazprom escalated on Wednesday as the Russian company prepared to halt all deliveries to its French contractor from Sept.1, citing missing payments. The row came as Russia stopped European gas deliveries via the Nord Stream 1 pipeline from Aug. 31 to Sept. 2 for maintenance, deepening concerns about the region's winter energy supply. Gazprom explained its decision, announced late on Tuesday, to suspend gas supplies to Engie was down to Engie not paying in full for July deliveries of gas.

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Gazprom says it will halt gas supplies to France's Engie, cites lack of payment

PARIS (Reuters) -Russia's Gazprom said on Tuesday it would fully suspend gas deliveries to major European utility Engie from Thursday in a dispute over contracts, a move which will deepen concerns about Europe's winter energy supply. Europe is already on notice that Gazprom will shut off the Nord Stream 1 gas pipeline to Germany from Aug. 31 to Sept. 2 for maintenance, and there is some concern that Moscow, which has cut the pipeline's supply to just 20% of capacity, may step up pressure by delaying the restart. In a statement, Gazprom said Engie had not paid in full for July deliveries of gas.

Macron Seeks Warmer Algeria Ties, But a Gas Deal Is Elusive

(Bloomberg) -- Emmanuel Macron travels this week to Algeria, a former French colony and one of the world’s largest gas producers. But it’s unlikely the French president will return with the one thing that has European leaders scouring the globe for: commitments for alternative supplies of liquefied natural gas. Most Read from BloombergBiden Unveils Plan to Free Students from ‘Unsustainable Debt’A 129-Foot Superyacht Worth Millions Sinks Off the Italian CoastSix Months of Putin’s War Unravels Rus

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Utility Engie prepared for less Russian gas as profits surge

PARIS (Reuters) -French utility Engie said on Friday it was well prepared for a reduction in deliveries of Russian gas, as its first-half profits surged on the back of higher energy prices. Engie added it was working with the Belgian government on possibly extending operations at two nuclear units. Russia's invasion of Ukraine has thrown the spotlight on the Europe's reliance on Russian gas, prompting a scramble to find alternative energy sources.

Belgium reaches initial deal with Engie to prolong nuclear power

BRUSSELS (Reuters) -Belgium has reached an initial accord with French utility group Engie to extend the use of nuclear power by 10 years after Russia's invasion of Ukraine forced the government to rethink plans to rely more on natural gas. Engie's subsidiary Electrabel and the Belgian state signed a "non-binding letter of intent" and aimed to negotiate a binding legal agreement by the end of 2022, the government and Engie said on Friday. Belgium was to have exited nuclear power entirely in 2025, but now wants to extend the lives of its two newest reactors, Doel 4 and Tihange 3, with a restart in November 2026.