Environmental products house of the year: ENGIE

With a strong global commitment to decarbonisation and a recent ramp-up in activity in the Asia-Pacific (Apac) region, ENGIE has been a stand-out player in a variety of environmental markets across the region over the past 12 months, earning it Energy Risk Asia’s 2025 Environmental products house of the year.

Earlier this year, ENGIE brought together its energy risk management expertise and low-carbon supply activities under a single entity: Supply & Energy Management (S&EM). This new entity is a cornerstone of ENGIE’s strategy to accelerate the energy transition, delivering projects that enable clients – residentials, businesses and communities – to achieve their decarbonisation goals. ENGIE aims to be carbon net-zero by 2045, and invests €10 billion annually on activities that will achieve this and support the wider energy transition.

Establishing agreements

In the Apac region, the S&EM branch of ENGIE has significantly expanded its presence over the past year, establishing offices in Japan and India. It has successfully closed three long-term virtual power purchase agreements with major offtakers and two balancing service agreements in the fledgling Japanese electricity market, as well as increasing its portfolio of renewable energy credits (RECs) in Singapore.

The balancing service agreements were with renewable and sustainable energy firm X-Elio Japan for its upcoming 14 megawatt (MW) solar plant located in Ube, and EDP Renewables for a solar facility in Fukushima. ENGIE not only helped their clients set up and begin operations in the Japanese balancing market, but also developed its own internal capabilities to run balancing risk management services in Japan.

X-elio Japan’s country managing director, Luis Perezagua Pérez, says the agreement would advance his firm’s goal of expanding renewable energy projects in Japan.

“This collaboration reflects ENGIE’s role as an enabler of the broader energy transition, not only through our own assets but by empowering others to scale theirs,” says Daphne Chee, head of green solutions, S&EM, Apac.

Meanwhile, in Singapore, ENGIE grew its RECs regional portfolio against a backdrop of growing demand for electricity produced from renewable sources and tight supply. The firm sold more than 2 million MW hours of RECs to a variety of offtakers, maintaining flexibility between short-term trades and long-term RECs purchase agreements, says Chee.

Since beginning these activities in Southeast Asia, ENGIE has altogether sold approximately 3.8 million metric tons of carbon offsets and 2 million MWh of RECs, and signed more than 350 gigawatt hours in power purchase agreements.

Memoranda of understanding

The firm also signed a key memorandum of understanding (MoU) with an India-based top-tier liquefied natural gas supplier to collaborate on tailored solutions for decarbonising, such as renewable supply, risk management and battery energy storage systems. “The MoU marks the beginning of long-term pathways to decarbonise hard-to-abate sectors,” says Varun Gujral, country manager of ENGIE Southeast Asia.

Another MoU, signed with Nozomi in Japan on March 19, includes joint power purchase agreement marketing in addition to risk management.

These MoUs are very much part of ENGIE’s strategy to proactively seek future opportunities.

“Looking ahead, ENGIE is actively laying the foundations for the next wave of decarbonisation in the Apac region by forging early-stage partnerships with forward-thinking players,” says Gujral. “By engaging early and collaboratively, we ensure that, when the market is ready, so are we – with the right partners, the right capabilities and the right solutions.”