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    Home > Finance > France's Engie slows US renewable projects on tariff uncertainty
    Finance

    France's Engie slows US renewable projects on tariff uncertainty

    Published by Global Banking & Finance Review®

    Posted on May 15, 2025

    2 min read

    Last updated: January 23, 2026

    France's Engie slows US renewable projects on tariff uncertainty - Finance news and analysis from Global Banking & Finance Review
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    Quick Summary

    Engie is delaying new US renewable projects due to tariff uncertainties affecting solar and battery materials, with potential capital shifts to other markets.

    Engie Delays US Renewable Projects Over Tariff Concerns

    By Forrest Crellin

    PARIS (Reuters) -Engie is slowing new U.S. renewable energy projects due to uncertainty over tariffs on imported materials for solar installations and batteries, the French utility said on Thursday. U.S. President Donald Trump has imposed tariffs on top trade partners, including China, the world's top solar panels and batteries producer, and he keeps changing those duties as part of ongoing talks. Engie, Europe's largest gas network operator, is growing renewable assets, particularly in the U.S., and has installed or is building 11 gigawatts of generation and storage capacity. The group is slowing down approvals of new U.S. projects because of uncertainty over tariffs and the difficulty of defining the final price for customers, Engie's finance chief Pierre-Francois Riolacci told reporters. The projects in development won't be affected, he said. Clarity on the Inflation Reduction Act (IRA) is also important for future projects without a final investment decision, Engie CEO Catherine MacGregor said.

    The IRA was signed into law by former U.S. President Joe Biden and pledged new spending and tax cuts and credits to accelerate America's transition to a green energy economy. Current President Donald Trump has vowed to repeal it. Capital originally intended for the U.S. could go to other markets where Engie is well established such as Brazil, Australia, India and the Gulf countries, MacGregor told an analysts call. Engie reported a 0.5% year-on-year rise in earnings before interest and tax (EBIT), excluding nuclear power, to 3.7 billion euros ($4.14 billion). The company's shares rose 3% by 0816 GMT as the results beat analyst expectations. Full-year EBIT might not be as good as the first quarter, which benefited from strong gas and power prices and bigger winter demand, Riolacci said. Engie maintained its 2025 forecast for net recurring income of 4.4 billion to 5 billion euros. The market will likely see the guidance as conservative with potential to increase if second-quarter performance is again robust, analysts at JPMorgan said.

    ($1 = 0.8932 euros)

    (Reporting by Forrest Crellin; Editing by Sonia Cheema, Jan Harvey and David Evans)

    Key Takeaways

    • •Engie slows US renewable projects due to tariff uncertainty.
    • •Tariffs affect solar and battery materials from China.
    • •Current projects remain unaffected by the slowdown.
    • •Future investments hinge on clarity of the Inflation Reduction Act.
    • •Potential capital redirection to Brazil, Australia, and other markets.

    Frequently Asked Questions about France's Engie slows US renewable projects on tariff uncertainty

    1What is the main topic?

    The main topic is Engie's decision to slow down US renewable projects due to uncertainty over tariffs on imported solar and battery materials.

    2How do tariffs affect Engie's projects?

    Tariffs create uncertainty in pricing for solar and battery materials, impacting Engie's ability to approve new US projects.

    3What are Engie's alternative markets?

    Engie may redirect investments to markets like Brazil, Australia, India, and Gulf countries if US tariff issues persist.

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