Engie CEO: We are well-positioned to bid on gas plant tenders for Germany, Netherlands and Spain

Catherine MacGregor, chief executive of French 'power utility Engie, said that the company is in a good position to bid for newly announced tenders relating to 'power generation, including gas plants, in Germany, Netherlands, and Spain.

These tenders are called capacity remuneration mechanism and pay producers for providing backup power to the grid when it is needed, like during peak demand and when solar and wind farms aren't operating. Gas plants fill the gap more and more as countries close nuclear and coal plants. She told analysts that Engie was interested in a selective participation in reinforcing Europe's?flexible energy generation. But she added, "we will only participate if the conditions are right."

She said that 2026 would be a significant year because of these announcements. German legislators are currently examining legislation to sweeten the terms for gas plants. Tenders should be expected in September or December. "We are working on a project and we want to be able to participate in the second auction." MacGregor stated that we had secured land and were well-engaged with our supplier to secure the equipment. She added, "It'd be foolish for us to wait until December if we didn't have the equipment in place.

She said that the company has a data center project in an advanced state of development. It should be completed in the coming year. (Reporting and editing by Inti landauro, Emelia Sithole Matarise and America Hernandez)

(source: Reuters)