We strengthened our leadership in green bonds having issued 2.4 billion green bonds in 2020 for a total of 12 billion since 2014. And Ill turn to Judith maybe for the cash flow from Nuclear. So thank you very much, and bye-bye. Our focus is on disciplined investment through organic growth and through targeted acquisitions that offer good returns. Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6]. Before I share my view on 2021, here are our 2020 financial highlights. And side comment also on this is that our employees are obviously very excited about renewable as being a growth center of a growth engine for us in ENGIE, so as well as obviously being a key goal of our ESG road map. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. She has managed numerous complex industrial projects, both . Its two and probably a little bit more early. And we will now take our next question from Vincent Ayral with JPMorgan. So these are some of the things that we are excited about when we think about our network assets, and we like it. We intend to retain a higher ownership of our renewables project where it is strategically and economically rational as we indicated in our strategic orientation. Head of Core Laboratories US - Alpharetta Site Manager, Thanks to Solvay Alpharetta employees Michael O'Keeffe and Edna Carbajal for reaching out to students in Dawson county GA for their junior high school career fair and mock interview days. Sur cette version linguistique de Wikipdia, les liens interlangues sont placs en haut droite du titre de larticle. ENGIE - Catherine MacGregor, Chief Executive Officer of ENGIE from 1 We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. Good luck with the new role, Catherine. Overall, we have 100 cooling networks with a total installed capacity of 6.1 gigawatts and 300 heating networks of various sizes that distribute 19 terawatt hours yearly. Compare Standard and Premium Digital here. And my second question will be more accounting related regarding EVBox. Delivering on decarbonization while ensuring reliability and affordability can only be achieved through a combination of centralized and decentralized solution and with a mix of energy sources. personalising content and ads, providing social media features and to So again, of course, I mean, it 2020 was heavily impacted. Yes. We are expecting this to happen in a matter of weeks, following the closing of the SPAC transaction. Its coal exits. First, we recorded significant impairments mainly driven by the 2.9 billion nuclear impairment caused by the change in lifetime assumption for Belgian nuclear reactors as well as by changes in the commodity price scenario. She occupied a number of roles within [] I would like to pay tribute to their mobilization, which has enabled us to: In Nuclear, following the announcements of the Belgian government in Q4 2020, it has been decided to stop all preparation works that would allow a 20-year extension of two units beyond 2025, as it seems unlikely that such an extension can take place given the technical and the regulatory constraints. Ladies and gentlemen, this concludes this conference call. MacGregor said: I would like to thank the board of directors for the confidence it shows in me. How old is Ms MacGregor? We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. Elle est ingnieur, diplme de l'cole centrale Paris, dont elle sort en 1995. Even if you ten-double the installations of these sources, the 40% remains. January 7, 2021. In addition, her appointment as Board member of the Group will be proposed for approval during the General Shareholders Meeting in 2021. https://waves-energy.co/maps/. I look forward to continuing to work closely with our brothers in Azerbaijan, and our partners across Europe and around the world, to deliver on our shared clean energy ambitions. It will also require some infrastructure, maybe not with the same density at todays gas network. A warm welcome as well to you, Catherine MacGregor. And so obviously, a decision that we communicated today is based on a scenario where it is unlikely that the lifetime extension happens. Check if your MacGregor will take the helm at Engie in January 2021, joining from TechnipFMC Group where she has spent just over a year as head of Technip Energies. Is this happening to you frequently? Now from a also power system standpoint, gas today is also a very nice complement to renewables because it has brings the flexibility. For example, we signed several corporate PPAs with Amazon for a 650-megawatt global portfolio of wind and solar projects across the U.S., Italy and France. For cost savings, you can change your plan at any time online in the Settings & Account section. Chief Executive Officer at NOVIGE AB, Mission Innovation Champion, Innovator of the Year, Seal of Excellence European Commission, Propeller Prize - Stena Line 2mo Glad to see all the progress. Turning to our major focus areas starting with Renewables. In 2020, most of our newly commissioned assets were onshore wind followed by solar. EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. Now having said that, we are also very excited about transitioning our gas systems into renewable and by that, I mean, renewable gas. In addition to this strong organic growth, we also added 2 gigawatts through acquisition of operating assets. But just one observation is a key part of success, I think, for some of your peers has been laying out quite detailed guidance over a 3-year period. In Renewables, we expect growth from asset commissioning in the United States from higher achieved prices for French hydro and from the potential positive effect of the CNR concession extension. https://noviocean.energy/documents/ We will now take our next question from Sam Arie with Union Bank of Switzerland. We want to develop and further our differentiation. "Until regulations happen," they muse, "there's really nothing I, or my company, can do to make a difference." MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Finally, on Client Solutions, we see a strong growth potential driven by decarbonization and energy efficiency, especially in heating and cooling networks, on-site generation, and green mobility among other asset-based solutions. Catherine will then come back and share our priorities. I just wanted to remind that given of the absence of the LTO that there is the amortization is now happening quicker. I'm looking forward to continuing to make a difference together. Catherine MacGregor - Forbes What an insightful stay in India this week starting with a technical conference on #hydrogen #certification at #IndiaEnergyWeek then meetings with 7 industrial players developing hydrogen projects across #India. We remain focused on executing disposals at pace, continuing to simplify the group, creating value and reallocating capital towards growth. This was really driven by mix of the results, changes in some tax laws, including in the UK, and we are expecting to go to a more normal level at the 25% kind of range in 2021. #economics #business #culture, Chief Executive Officer at Masdar (Abu Dhabi Future Energy Company). I think the team has done, so far, a really nice job. A very fine, humane gesture that you promised your ENGIE colleagues. Now turning to Networks. In terms of operational performance, I am pleased that the group made progress at pace despite the challenging backdrop. H2, Now of course, its going to depend on when its closing, at what price, but it will be a few hundred million. These positive effects were partly offset by lower volumes mainly due to a decrease in availability of our Belgian assets caused by the last planned LTO maintenance works on Doel 1, Doel 2 and Tihange 1. In her efforts to "simplify" Engie, MacGregor is moving from 25 business units to 4 globally, and . Our environment is changing. Current positions of Catherine MacGregor New organizational structure for a simpler ENGIE to go live on July 1 Catherine MacGREGOR - Les Rencontres conomiques This was notably due to the discounting of liabilities related to hydro concessions in Brazil that are indexed to inflation and which increased significantly in 2020. Aged 48 and a graduate of cole Centrale Paris, Catherine MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Thank you #HariPrasad #PulakPrakash #PallavGogoi #AmitGhosh, Player Representation and Scouting for F&F Sports, Two Cows Explain Economics Better Than Any Class And maybe more importantly, where do you see subsidiary in five years and what it could contribute to your P&L considering the potential growth of these assets? And so were confident to be able to invest in lots of opportunities that Catherine talked about. is its Ocean Winds joint venture with EDPR. Check if your We will now take the next question from Rob Pulleyn with Morgan Stanley. What is the identity of the Thermal business? These projects further cement Masdars position as a leading clean energy powerhouse, helping Azerbaijan to unlock its tremendous clean energy potential. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Posted mercredi, avril 14 2021 Last month, with her feet barely under the desk, Catherine MacGregor was required to appear before the French senate's economic affairs committee be grilled on Engie's strategy. The commitment and mobilization of all our teams at ENGIE is truly exceptional and it is an honor to be a part of such a dedicated and forward-thinking organization! We are assessing the situation, which mainly affects renewables and supply activities. We are experts in sourcing projects, in dealing with permitting, land ownership issues, financing, partnering, environmental assessment and all that good stuff as well as aspects of social acceptability, which is really important in the development of renewables as you know. Were, in fact, very positive and excited about the opportunity of these businesses, very, very different from other more traditional mtier that we have in ENGIE, and the idea is really to form a very coherent entity, which Jrme Stubler is very busy doing right now. So firstly, theres step-up in CapEx in 2021 versus your sort of prior 10 billion 3-year plan. Obviously, well give you more color on our ambition on renewables in May. Long-term growth drivers for asset-light activities are also strong, underpinned by major international actions plans, such as the European green deal towards making the EUs economy sustainable. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. Dans le SBF 120, on y trouve en tout 13 femmes DG et 12 . And Judith, you want to comment, please, on the impairment? Recharge is part of DN Media Group. And then the last thing I would want to mention, too, is on the positive side of this decision, is this will help us reallocate some earmarked, lets say, CapEx into, again, our growth opportunities in Renewables and in Networks. Premium access for businesses and educational institutions. Access to customer sites was much reduced during the strict lockdowns of the second quarter 2020, and we were not able to perform various services. Please go ahead. The renewables COI, could you break that down, if you dont mind, into the change in hydro versus wind and solar in the 2020 numbers? Starting with our biggest contributor, Latin America, we had 195 million headwind from FX and an unfavorable energy allocation for hydro in Brazil. Katherine MacGregor - Wikipedia . The current total coupon of 100 million per year has been reduced by 28% since 2017. This was partially offset by capital gains, the main one being 1.7 billion due to the sale of the 29.9% shareholding in SUEZ. Excluding the scope out effect of SUEZ in the fourth quarter, the second half performance in 2020 was similar to previous year. Okay. We remain committed to a strong investment-grade credit rating and continue to target a ratio of below or equal to four times economic net debt to EBITDA over the long term. But let me reassure you, there are several processes that have been launched, and so were confident that we can move at speed to really help simplify the group through the disposals. Let me now hand you over to Judith to cover our financial overview, and I will come back on strategic priorities. It is important to say that our renewables growth ambition is not about entering a gigawatt race. This change led to an impairment, which Judith will cover shortly. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. And that will be something that we will be describing a bit more in details in May. Learn more in our Cookie Policy. A key part of that strategy is its Ocean Winds joint venture with EDPR, which has set out its stall as a global leader in offshore wind. More information, our agenda as well as the opportunity to register are available here: https://fusion.concur.com/. modifier - modifier le code - modifier Wikidata. Net recurring income group share was in line with guidance but at the bottom end of the range. The French group last year pledged to invest 12bn ($13.1bn) in its 2019-21 energy transition programme, and was on track to install 9GW of renewables in that period. Thats a good clarification. In the past Ms. MacGregor held the position of President-Drilling Group at Schlumberger NV and Personnel Director at Oilfield Services Co. Ltd. Ms. MacGregor received an undergraduate degree from cole Centrale Paris. And second, its really focused and making sure that everybody pulls in the same direction. We have strict criteria, and we will stick to them. Catherine Fiamma MacGregor on LinkedIn: nergie : la consommation de For example, in addition to the Amazon contract that I mentioned earlier, ENGIE will supply 3 terawatt hours of renewable energy to the global chemicals group, INEOS, through a 10-year corporate PPA. Net interest expense was also slightly higher driven by negative FX and lower cash remuneration. Catherine MacGregor will join Engie as CEO. And one of the things to keep in mind, when you say how can you speed up is also that we have less sell downs in Renewables in 2021. I was very pleased to participate in the 9th Ministerial Meeting of the Southern Gas Corridor Advisory Council, and the 1st Ministerial Meeting of the Green Energy Advisory Council, held in #Azerbaijan last week. Engie appoints oil services executive to execute new renewables strategy Solvay Alpharetta celebrates Black History Month. So our main working scenario right now is that it wont happen. Its going to take us some time.