Electricity use has risen quickly during the current Trump administration, driven by server farms and new industrial plants, which has boosted the value of renewables. Yet French utility Engie SA said its clean-energy and battery-storage growth will slow briefly this year because U.S. permit delivery continues to drag, even as that demand climbs.
In the U.S., Engie still expects to put 1.2 GW into service before the end of the year.
Engie's operational renewable and battery-storage portfolio totaled 59.5 GW at the end of June, an increase of 2.4 GW since the beginning of the year. Growth is still happening, but the pace is expected to be slower this year.
MacGregor was direct about the cause. "We do continue to grapple with timing, especially as federal wind permitting largely tied to FAA reviews remains slow moving industry-wide," she said.
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After Mr. Trump was back in the Oval Office last year, he began fulfilling his campaign vow to stop new wind turbines and limit other green energy developments. MacGregor said the company's "near-term pipeline has shifted" in the U.S.
Earlier this year, as part of an administration deal, Engie gave up two of its three U.S. offshore wind projects.
Engie has been expanding through a combination of self-built projects and purchases of small and mid-sized developers. Acquisitions can bring projects that have already gone through permitting, which is valuable when U.S. reviews are slow. The company has said its 2030 target depends as much on that deal activity as on organic construction.
Much of Engie's near-term expansion is outside the U.S., where permitting is not as much of a bottleneck. Those elements help explain why the company has left its long-term goals unchanged.
The U.S. slowdown is notable but follows a period of continued portfolio growth. Engie's global capacity has reached 59.5 GW, with 2.4 GW added in the first half of this year, and the company still expects 1.2 GW of U.S. capacity to enter service by year-end. That mix of global progress and selective American projects is why the company continues to stand by its 2030 targets.
Engie's broader portfolio spans wind, solar, and battery storage across many countries. Friday's comments signal that the U.S. slowdown is a short-term obstacle rather than a lasting blow to Engie's overall clean-power strategy.
Self-built projects and acquisitions together are meant to provide enough momentum to offset the current U.S. delays. The company has not changed its long-term outlook.
MacGregor said the slower U.S. permitting environment would not stop Engie from meeting its 2030 clean-power capacity goals.
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