Innovation & prospective (within Green PPAs market): what’s the next step?
What is the impact of innovation and specially the Blockchain in Renewables?
The energy system is facing a global transformation. In particular, the challenges to stay within the Paris agreements are huge. These challenges represent as well significant business opportunities for us. We will need more renewables capacities, efficiently connected to markets in order to meet the growing demand of customers for sustainable energy products.
At ENGIE Global Energy Management our ambition is to be the global leading energy midstreamer for the sustainable world of tomorrow. In today’s challenging times, innovation is absolutely essential to meet our clients, partners and stakeholders expectations.
Our innovation strategy relies on two pillars:
- an internal one with our intrapreneurship program dedicated to boost & scale up innovative projects.
- an external one aiming at connecting ENGIE Global Energy Management to the energy start-up ecosystem, labs and research centers to identify upcoming disruptive trends.
One concrete illustration of our innovation strategy is TEO (The Energy Origin).
What is TEO’s part exactly? And why its solution is so relevant for the market evolution?
TEO is a blockchain-based energy traceability solution. TEO provides full transparency on the energy origin meaning who is consuming what and when. To do so it relies on the blockchain technology.
Traceability is an increasingly important topic for our customers and partners who want 24/7 renewables energy and have full transparency on the origin of that energy. Moreover, this trend not only concerns power but is also rapidly extending to all energies : low carbon gases, H2, …
TEO is good example of how sustainability and innovation are good for business.
What is ENGIE's positioning in terms of net-zero carbon or low-carbon / green gases production?
Electricity will take a growing share of the end-energy usage. We need to produce net-zero carbon electricity at scale and ensure its efficient integration in markets. This must be done as quickly as possible. However, this is not enough.
Indeed, wind and solar capacities are intermittent, and flexibility resources are needed to ensure the equilibrium between supply and demand. Flexible capacities fueled by low carbon / green gases have thus an important role to play in the integration of renewables sources in power systems.
Next to power, the industrial sector will require heat and steam to be generated in a more sustainable way. To this end, low-carbon and green gases have an important role to play for decarbonizing the industry sector.
Green and low carbon gases is one very important business development that ENGIE Global Energy Management has started. Similarly to green power, we ambition to expand our midstream role connecting upstream and downstream for renewable and low-carbon gases.
A net-zero carbon future is possible. The target is clear and the energy transition (i.e. the journey towards this target that is fundamental. To be successful in this journey, all technologies will be needed. We should leverage on all available low carbon / renewable energy sources (power and also low carbon gases, H2, biomethane, biomass, …).
The task at hand is huge and the challenges ahead will need focus, dedication, innovation and execution. All these require we work on it now. And this is exactly what we are doing: we are working on this priority, not only for GEM, but also for ENGIE.
Testimonies – Our teams act to be #GreenerTogether