French power company Engie has announced the signing of 4.3GW of power purchase agreements (PPAs) in 2024, up from 2.7GW the previous year.
This brings the company’s total portfolio of already contracted PPAs to 14GW.
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In 2024, ENGIE signed 85 agreements spanning five continents: North America, South America, Asia, Europe and Oceania. These deals represent 136 terawatt hours (TWh) of electricity supply.
ENGIE’s 2024 performance is highlighted by new contracts with Meta in the US and the expansion of its global partnership with Google, including developments in Belgium and the US.
The company has secured agreements in diverse sectors such as utilities, chemicals and the medical field, demonstrating the widespread demand for decarbonised electricity.
ENGIE secured 1.5GW of PPAs in North America, reflecting the strong demand for renewable electricity in the US despite the recent pause in federal spending by the Trump government on renewable energy projects.
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By GlobalDataThe PPAs cover eight new projects set to commence production between 2024 and 2026.
The 350MW Chillingham Park project in Texas is ENGIE’s largest solar project in the US to date.
ENGIE executive vice-president Edouard Neviaski was quoted by Reuters as saying: “There is a strong appetite in the US for this kind of contract. There are still some questions on the development of some renewable projects, but there is still quite a lot of interest from customers.”
“In the years to come, we expect some other parts of the world to increase more than the US, but we still think that the US will be a decent proportion of PPAs.”
Beyond its solar, wind and hydro assets, ENGIE is also pioneering in the field of biomethane purchase agreements (BPAs).
In 2024, the company secured several significant BPAs, with companies such as Arkema and BASF.
In December 2024, Massachusetts-based North Shore Community Health (NSCH), entered a two-year renewable energy agreement with ENGIE Resources, a subsidiary of ENGIE North America.
The agreement guarantees that NSCH will receive renewable energy credits to cover the anticipated energy consumption for its three locations in northeast Massachusetts.
