Engie is exploring the possibility of securing a refund for its US offshore wind project leases through ongoing discussions with the US President Donald Trump’s administration, chief executive Catherine MacGregor told Reuters.
The French energy group has paused three offshore wind projects in the US and recorded impairments linked to its Ocean Winds joint venture after Trump returned to the presidency last year.
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Reuters said Trump has repeatedly criticised wind energy, describing turbines as “ugly, costly and inefficient”, while his administration has taken steps to back increased domestic fossil fuel output.
“Economically and also in terms of public acceptance, I strongly believe in offshore wind power. Of course, you have to plan the projects well, you have to involve the fishermen,” MacGregor was quoted as saying in the report.
She also said the US offshore wind market continues to be challenging because policy direction remains unclear.
The discussions reflect wider uncertainty for offshore wind investors in the US as government policy priorities change, the report noted.
Separately, TotalEnergies has redirected nearly $1bn that had been committed to offshore wind leases towards oil and gas production in the US.
Earlier this month, Engie said it would increase its European battery energy storage systems portfolio through the purchase of two projects in Spain with a combined capacity of 278MW, alongside the start of construction on a 110MW site in France.
With those additions, the group said its battery energy storage capacity in Europe had exceeded 1GW, including 700MW already in operation or under construction across eight countries.
In Spain, Engie acquired two stand-alone battery storage projects in Andalusia that are still being developed: a 78MW/312MWh installation in Álora and a 200MW/800MWh project in Tarifa.
