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Finance

French utility Engie not changing Middle East strategy despite disruptions

Published by Global Banking & Finance Review

Posted on May 7, 2026

1 min read

· Last updated: May 7, 2026

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Engie Confirms Steady Middle East Strategy Despite Regional Disruptions

Engie's Commitment to Middle East Growth Amid Regional Challenges

Continued Development Plans

PARIS, May 7 (Reuters) - French utility Engie is still looking to grow and develop its profile of energy assets in the Middle East despite the disruptions from the Iran War, Engie's finance chief Pierre-Francois Riolacci told reporters on Thursday.

Statement from Engie’s Finance Chief

"We don't see any questioning of our development plan in the Middle East at all. It's not necessarily the largest region, but it still is part of our plans, and we do not see the crisis prompting us to revise our strategy," Riolacci said.

Reporting and Editorial Credits

(Reporting by Forrest Crellin; Editing by Toby Chopra)

Key Takeaways

  • Engie’s CFO confirmed no change in Middle East strategy despite Iran war disruptions, reaffirming growth intentions.
  • Engie secured financial close for the 1.5 GW Khazna solar PV project in Abu Dhabi, its largest-ever in the region, due 2028. (cfnewsinfra.net)
  • Engie is also developing a 900 MW wind farm in Egypt set to commission by 2028, reinforcing its renewable footprint in the region. (engiemiddleeast.com)

References

Frequently Asked Questions

Is Engie changing its Middle East strategy?
No, Engie is not revising its Middle East development plan despite current disruptions.
How important is the Middle East to Engie's global operations?
The Middle East is not the largest region for Engie, but it remains an integral part of their plans.
Did the Iran conflict prompt Engie to reconsider its investments?
Engie's finance chief confirmed that the current crisis has not led to a revision of their strategy in the region.
Who commented on Engie's Middle East strategy?
Pierre-Francois Riolacci, Engie's finance chief, commented on the strategy.

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