• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • NORTH AMERICA EDITION
      Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • NORTH AMERICA EDITION
      North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Cleantech Market
    Cleantech News
    Cleantech Stocks
    • Cleantech Market
    • Cleantech News
    • Cleantech Stocks
    cleantech investing

    Engie Gears up for 2GW in Australian Renewable Energy Projects

    Dorothy Neufeld
    Nov. 06, 2019 04:00PM PST
    Cleantech Investing
    ASX:AGL

    The French conglomerate is urgently introducing a new wave of solar and wind projects over the next 10 years.

    Engie (EPA:ENGI), a multi-billion dollar energy firm based in France, is developing an investment fund in Australia designed to support 2 gigawatts (GW) of solar and wind energy projects over the next 10 years, Reuters reported. 

    Although the exact value of the fund was undisclosed, Augustin Honorat, CEO of Engie Australia and New Zealand, said that investors across pension funds and the financial industry have shown particular interest in the fund.

    Previously having installed a 165 megawatt (MW) wind power project, Engie already has an 800 MW renewable energy project in the pipeline, Honorat told Reuters.

    While over 60 percent of the nation’s energy is generated from coal, the announcement is a boon to the Australian renewables sector.

    “It’s a way to grow faster,” said Honorat. Engie is focused on expediting the transition to renewable resources, and the fund serves as a catalyst behind its growth. Japan-based energy firm Mitsui & Co (OTC Pink:MITSY) has already agreed to invest in the fund.

    With nearly two centuries in operation, Engie is one of the largest power companies in the world. It built the Suez Canal and provides natural gas to much of the French population. Despite being positioned as a traditional energy company, Engie is channeling significant resources to usher in a new wave of renewable energy alternatives.

    For example, in 2017 it closed the Hazelwood coal mine in Victoria. In operation since the 1960s, the 1,600 MW mine employed 750 people.

    The company stated in a press release that it was pivoting its focus to exclusively develop low-carbon power projects.

    Though the transition to renewable energy has been slow, Engie is not the first conglomerate to develop a sustainable fund in Australia.

    In 2016, AGL Energy (ASX:AGL) created the US$2 billion Powering Australian Renewables Fund to support 1,000 MW of renewable energy projects. The landmark initiative has funded the Silverton Wind Farm Project, Nyngan Solar Plant and the Broken Hill Solar Plant, among others.

    Don’t forget to follow us @INN_Technology for real-time news updates!

    Securities Disclosure: I, Dorothy Neufeld, hold no direct investment interest in any company mentioned in this article.

    agl energyhazelwoodmitsui & coepa:engiaustraliacleantech investingasx:aglengieotc:mitsy
    The Conversation (0)

    Go Deeper

    AI Powered
    Stock market display with "Mergers and Acquisitions" in white amid red and green numbers.

    IsoEnergy Expands Into Australia with Toro Energy Takeover

    Oil rig with stock charts overlayed.

    5 Biggest ASX Oil and Gas Stocks of 2025

    Latest News

    Convertible Note and Placement

    Troy Minerals Updates on Channel Sampling at Table Mountain High-Purity Silica Project, British Columbia, Canada

    Norway Innovation Centre for Robotics and Prototype Tank

    CHARBONE Signs Five-Year Clean UHP Hydrogen Supply Agreement in Ontario, Marking a Major Milestone in its Commercial Expansion

    CHARBONE signe une entente d'approvisionnement en hydrogene propre a UHP d'une duree de 5 ans en Ontario, marquant une etape majeure dans son expansion commerciale

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
      • Electric Vehicles
    • Agriculture
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Energy
      • Uranium
      • Oil and Gas
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Robotics
      • Crypto
      • Cleantech
    Life Science
      • Biotech
      • Cannabis
      • Pharmaceuticals

    Featured Cleantech Investing Stocks

    Westport

    WPRT

    Innovation Mining

    Homerun Resources

    HMR:CC

    Carbonxt Group

    CG1:AU

    Troy Minerals

    TROY:CC

    NEO Battery Materials

    NBM:CC
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES