ENGIE: Engie to Restructure Global Business Units

By Nina Kienle Engie is reorganizing its global business units to adapt to what it called a rapidly changing energy market. The French utility company said Thursday that renewables, power storage facilities such as batteries, as well as cycle-gas and steam-turbine plants will be combined into the Renewables and Flex Power unit. The GBU Energy Solutions unit will be renamed Global Business Units Local Energy Infrastructures, while the GBU Supply and Energy Management unit will combine energy-management and downstream activities, as well as business-to-business and business-to-customer retail, the company said. "To build the most reliable and affordable energy system of tomorrow, we must enhance synergies across the group," Chief Executive Catherine MacGregor said. All operational and financial targets are unchanged with further details to be provided on Feb. 27, Engie said. Write to Nina Kienle at nina.kienle@wsj.com (END) Dow Jones Newswires 01-16-25 1240ET By Nina Kienle Engie is reorganizing its global business units to adapt to what it called a rapidly changing energy market. The French utility company said Thursday that renewables, power storage facilities such as batteries, as well as cycle-gas and steam-turbine plants will be combined into the Renewables and Flex Power unit. The GBU Energy Solutions unit will be renamed Global Business Units Local Energy Infrastructures, while the GBU Supply and Energy Management unit will combine energy-management and downstream activities, as well as business-to-business and business-to-customer retail, the company said. "To build the most reliable and affordable energy system of tomorrow, we must enhance synergies across the group," Chief Executive Catherine MacGregor said. All operational and financial targets are unchanged with further details to be provided on Feb. 27, Engie said. Write to Nina Kienle at nina.kienle@wsj.com (END) Dow Jones Newswires 01-16-25 1240ET