Engie chief relishing district energy future following acquisition

The chief executive of Engie has hailed the purchase of a 40 per cent stake in district energy specialist Tabreed as aà‚ 

Isabelle Kocherbig moment for the French company’s ambitions in the sector.

Engie, on buying the stake in the United Arab Emirates company from Mubadala, has become Tabreed’s key shareholder. Mubadala retain a 42 per stake stake, subject to regulatory approval.

Isabelle Kocher, chief executive officer of Engie, said: “Engie will support Tabreed’s growth by contributing to delivering massively and efficiently low-carbon energy, building on Engie’s 30-year experience in the GCC countries and world-class expertise in district energy.

“District energy networks are the fastest and most efficient ways to decarbonise dense areas and supply them with clean, renewable energy. As such, they can be seen as backbones of sustainable cities.”

“This acquisition is therefore a major step forward in the implementation of Engie’s strategy to become leader of the energy transition, by focusing especially on low-carbon solutions.”

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