Engie: Business Model Transformation
Abstract
This article reviews the business model transformation of a French energy company, Engie. The company is adapting to a new energy business environment characterized by three trends: decarbonisation, decentralisation and digitalization. In order to achieve this objective Engie has carried out a three-year plan (2016-2019) focusing on renewable energy sources, local energy generation and new technologies. The company has developed a new strategy for the period 2019-2021, the aim is to become the world leader in zero-carbon transition “as a service” assisting business and local authorities to reduce their carbon footprint in their operations. This implies an asset light strategy, Engie provides tailor-made solutions and expertise to their customers while partnering with the owners of renewable power sources. The company is in line with the environmental concerns of all its stakeholders and believes in the profitability of this new strategy, centred on renewable energy sources.
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