More industrial management. This is the slogan repeated by Catherine MacGregor, the new general manager of Engie, an engineer who has spent most of her career at the oil services giant Schlumberger.
A little more than five months after her arrival at the head of the energy company, she presented her roadmap on Tuesday, May 18. “We are at a pivotal moment in the world of energy. Everywhere, the climate emergency is at the heart of the post-Covid recovery. Engie must prepare to be able to seize opportunities ”, she pleaded. For this, the group must be managed “In a more industrial, more integrated way”, with piloting “More rigorous”.
Exit therefore the 24 operational entities set up in 2016 by Isabelle Kocher, the former CEO, who left in February 2020, who then advocated ” the agility “. The organization is now based on the four major professions “Complementary” Engie: renewable energies, Energy Solutions (decentralized infrastructures), infrastructures (gas and electricity networks) and thermal production.
Engie thus turns the page a little more on the Kocher era. In July 2020, the group’s board of directors had already sounded the death knell for the all-out development strategy in services, initiated by the former manager. The air conditioning and building renovation activities, employing 74,000 people out of a total of 154,000, are in the process of being grouped into an entity called Bright, which must be managed independently within Engie from 1er July.
The “crazy” prices of assets in renewables
“The consultation process with employee representative bodies began in February. We should stick to the schedule ”, specifies Mme MacGregor. Bright will then be sold, through an IPO, or more likely a sale. Bouygues and Spie have expressed their interest, as have investment funds. Bright’s disengagement should constitute a significant part of the 9 to 10 billion euros of disposal planned between 2021 and 2023. Engie could also sell “10% to 15%” of the GRTgaz transport network, indicated Mme MacGregor.
Where Engie, however, capitalizes on the impetus given by Mme Kocher is about renewable energies, including Mme MacGregor wants “Accelerate” the deployment. Solar and wind power will absorb 40% to 45% of the 15 to 16 billion euros that the group plans to invest for its growth over the next three years. Enough to increase the production capacity in renewables from 31 GW in 2021 to 50 GW in 2025, then 80 GW in 2030.
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