Engie shifting LatAm strategy to incorporate new sectors

28 February 2020 - 12:00 am UTC

Engie is interested in acquiring social, transportation and water assets in Latin America, according to two sources briefed.

The company is seeking to participate in projects outside of its usual business activities of power and renewables and would provide ancillary electricity and water services to make the projects more sustainable. This shift could be inspired by the company’s advancement of the Triple Bottom Line framework, that outgoing CEO Isabelle Kocher announced on 22 January 2020.

In the presentation, Kocher described how Engie’s social and ecological performance are just as important as its traditional financial performance.

Described as “People, Planet, Profit,” the strategy seeks to address the climate change emergency, factoring in social impact into the company’s choices and profiting from being a leader in the zero-carbon energy transition for companies.

“Part of the strategy is that they see themselves as a company that provides services towards energy transition,” the first source briefed said. “They created Cofely Services in 2009 (now Engie Services) to work on building management, heating, electricity and air conditioning, everything related to the energy consumption of the building and see an opportunity to provide these services to infrastructure projects,” they continued.

Read more