French energy company Engie is planning to spend up to €2.8bn over the next three years to add 9GW of new renewables generation capacity, according to an updated strategic plan.
The utility-developer wants to play a leading role in offshore wind as part of the deeper push into green energy announced today ahead of a capital markets day in London.
As part of the strategy to 2021, Engie will aim to further scale is power purchase agreement offering in renewables to customers.
The renewables operations will be managed by a new business line, which will simplify financial reporting and reduce geographic segments, the company said.
Chief executive Isabelle Kocher said: “The integration of Engie’s infrastructure and customer management capabilities, with accountability for targeted outcome delivery, is now an aligned focus across Engie as we pursue our ambition to be recognised by all stakeholders as a leader in this field.
“Our transformation continues, and we look forward to accelerating growth, profitability and shareholder returns.”
The company meanwhile added 1.1GW of new renewables capacity in 2018, according to annual results, also released today.