• Natural Gas News

    Engie Expands Renewable Asset Base

Summary

Already claiming to be the leading wind and solar power company in France, Engie has added another string of assets to its portfolio.

by: William Powell

Posted in:

Complimentary, Natural Gas & LNG News, Europe, Corporate, Mergers & Acquisitions, News By Country, France

Engie Expands Renewable Asset Base

French utility giant Engie has consolidated its "leading position" in wind and solar energy by acquiring the Langa Group, it said June 6. It did not say how much it paid.

Founded in 2008 and based in the French region of Brittany, Langa is one of the most active independent producers of renewable energy, simultaneously present in solar, wind, biogas and biomass and is involved in the entire value chain of its projects, according to Engie.

By end-2018, Langa's installed capacity however is only to reach 215 MW, of which 165 MW is solar and 39 MW wind energy; it was beaten by Engie in two recent tenders held by energy regulator CRE.

Langa however is developing 1.3 GW of projects due to be completed by 2022.  Thus the acquisition will allow Engie, in addition to its strong organic growth, to intensify its development in renewable energies in France. Engie aims to develop nearly 3 GW of wind and nearly 2.2 GW of solar by 2021.

Engie said the alliance of the two companies and the specific skills of Langa on roofs and ground-based power plants, as well as the general portfolio of projects being developed, "will incontestably make Engie a leader of the sector" in France.