AMZN - ENGIE: A Renewables Future Launched From A Fossil Fuel Base

• New CEO Catherine MacGregor actively promotes ENGIE’s simplification and a big focus on renewables.
• Huge renewables expansion but more focus especially on offshore wind and smaller geographical profile.
• ENGIE reasserting a long history in the gas industry, although seeking to put a “clean” slant on this with hydrogen and biogas.
• Nuclear future in Belgium clarified (no future) but it is performing well now.
• ENGIE is worthy of investment consideration as a major global energy company but is the continued focus on natural gas an issue in Europe as decarbonization strengthens?

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