Who Owns Engie North America?

ENGIE North America (ENGIE North America) is a major player in the North American energy industry. The company is a subsidiary of the France-based ENGIE Group and focuses on delivering low-carbon energy solutions throughout the United States, Canada and Mexico.

ENGIE North America offers a wide range of services related to electricity generation and distribution, natural gas services, and energy efficiency solutions. The company operates renewable energy assets like solar, wind and hydroelectric facilities as well as natural gas and coal-fired power plants. ENGIE North America also provides retail energy sales to commercial, industrial and residential customers.

ENGIE North America was formed in 2016 after ENGIE Group acquired a controlling interest in home services company HomeServe USA. The North American subsidiary combined HomeServe’s operations with ENGIE’s existing energy businesses in the region. ENGIE North America is now one of the larger companies in ENGIE Group’s worldwide operations.

Parent Company

ENGIE North America is wholly owned by ENGIE, a global energy and services group headquartered in France. ENGIE is based in the La Défense district of Paris and has operations in over 70 countries worldwide. The company is listed on the Euronext exchanges in Paris and Brussels and had revenues of €57.9 billion in 2019 [1].

ENGIE acquired 100% of ENGIE North America in February 2017 when it purchased the outstanding publicly traded shares of International Power in an all cash transaction [2]. This made ENGIE North America a wholly owned subsidiary.

Founding

Engie North America was founded in 2015 through the merger of International Power America and Cofely USA, which combined the power generation and energy services expertise of two global powerhouses under one new brand (Source: Zippia – Engie North America Company History). The company traces its roots back to GDF Suez Energy North America, which was established in the early 2000s. In 2015, GDF Suez rebranded globally as Engie, leading to the creation of Engie North America as a subsidiary of the France-based Engie group.

The merger brought together complementary capabilities in electricity generation, long-term power sales, retail energy sales and energy services. By combining forces, Engie North America aimed to become a leading energy player in North America and provide more diverse energy solutions to its customers (Source: Engie North America Press Release).

Leadership

The current CEO of ENGIE North America is Mike McClain, who assumed the CEO role in 2020 after serving as COO since 2016 (ENGIE North America, 2022). He has over 20 years of experience leading operations and strategy for gas utilities and power generation companies.

The CFO is Audrey Robat, who oversees all financial activities for ENGIE North America (ENGIE North America, 2022). She has over 25 years of experience in strategy, finance, and M&A roles.

Other key members of the executive leadership team include Ray Reddy (Chief Strategy & Sustainability Officer), Mike Jesanis (Chief Operating Officer), Emma Cox (Chief Human Resources Officer), among others (ENGIE North America, 2022).

The Board of Directors includes members like Gwenaëlle Avice-Huet (Executive Vice President of ENGIE) and Frank Demaille (President and CEO of ENGIE Energy Solutions) (ENGIE North America, 2022). The board provides oversight and strategic guidance for the company.

Operations

ENGIE North America is a leading energy and services provider operating in the United States and Canada. The company’s main business operations focus on three key sectors: renewable energy, energy efficiency services, and retail energy sales.

In the renewable energy sector, ENGIE develops, builds and operates utility-scale wind, solar, and other renewable energy projects across North America. The company has over 7 gigawatts of renewable energy capacity in operation or under construction. Key renewable energy projects include solar farms in California and wind farms in Texas and other states [1].

For energy efficiency services, ENGIE works with commercial, industrial, and institutional clients to optimize energy use in buildings and processes. This includes installing efficient equipment, managing energy procurement, data analytics, and other solutions to reduce costs and environmental impacts. Major client sectors include education, healthcare, retail, and manufacturing [2].

In retail energy, ENGIE sells electricity, natural gas, and other energy products directly to residential and business customers in deregulated markets across the U.S. This includes states like Texas, Ohio, Illinois and Pennsylvania [3].

Assets

ENGIE North America has a diverse portfolio of assets across the United States, Canada and Mexico. This includes over 3GW of renewable energy capacity, comprised mainly of wind and solar projects. Some of their key assets include:

• The Prairie Hill wind farm in Texas, their largest project completed in 2020 with 100 turbines and 200MW capacity.
• Several solar farms across Texas, California, and other states totaling over 1GW capacity.
• The Astoria Gas Turbine Power Plant in New York City with capacity of over 500MW.
• Multiple cogeneration plants providing steam and electricity to facilities and cities across North America.
• Gas pipelines and storage facilities located across multiple states.

In total, ENGIE North America has over 4GW of electrical generation capacity and significant natural gas infrastructure across North America. Their assets produce electricity, heat, and natural gas to millions of residential, commercial and industrial customers.

Financials

As of 2022, ENGIE North America had total revenues of $5.7 billion. The company’s revenues have been growing steadily, up from $4.9 billion in 2020. The majority of ENGIE North America’s revenues come from its energy infrastructure operations, including electricity generation, transmission, distribution and energy storage.

ENGIE North America reported a net profit of $347 million in 2022. This was an increase from $331 million in net profit in 2021. The company has remained solidly profitable over the past several years even amidst fluctuations in energy markets.

Other key financial metrics for ENGIE North America in 2022 include:

– EBITDA: $1.2 billion
– Total assets: $9.7 billion
– Long-term debt: $2.4 billion

Overall, ENGIE North America maintains a strong financial position within the energy industry. Its steady revenue growth and consistent profitability provide financial stability for the company’s ongoing operations and investments.

Competitors

ENGIE North America faces competition from several major companies in the markets it serves, including:

• EDF Renewables – This subsidiary of Électricité de France is one of the largest renewable energy companies in North America. It develops and operates wind, solar, and storage projects across the continent. EDF Renewables is considered one of ENGIE’s main competitors in renewable energy (Source).
• Ameresco – A leading cleantech integrator focused on energy efficiency, renewable energy, and sustainability. Ameresco is a major competitor to ENGIE in energy services and distributed generation (Source).
• NextEra Energy – The world’s largest producer of wind and solar energy. NextEra competes with ENGIE in renewable power generation and distribution (Source).

Recent News

In February 2024, ENGIE North America announced plans to construct a 100 MWh battery energy storage system in Floresville, Texas [1]. The project will provide grid balancing services and support the growing renewable energy capacity on the Electric Reliability Council of Texas (ERCOT) system [2]. Construction is slated to begin in 2024, with commercial operations expected to commence by the end of 2025.

In January 2024, ENGIE was chosen by Clean Power Alliance to provide renewable energy to power over 400,000 homes in Southern California beginning in 2023 [3]. ENGIE will supply 300 megawatts of solar energy and 161 megawatt-hours of battery storage capacity over a 15-year period.

In 2021, ENGIE acquired Infinity Renewables, a leading developer of utility-scale solar and storage projects. The acquisition expanded ENGIE’s renewable energy capabilities and project pipeline in the U.S. [2].

Conclusion

In summary, Engie North America is a subsidiary of the French multinational electric utility company Engie. It operates in the areas of electricity generation and distribution, natural gas and renewable energy in North America. The company has seen steady growth in recent years through strategic acquisitions and expanding its assets across the US, Canada and Mexico.

Looking ahead, Engie North America is well positioned to continue growing its footprint in North America and expanding its renewable energy and customer solutions portfolios. The company is expected to play a key role in Engie’s strategic transition towards low carbon energy and decentralized solutions. With strong financial backing from its parent company and experienced leadership team, the future looks bright for Engie North America.