Engie's Tax Credit Decision Hinges on Chinese Content Threshold

Engie's chief executive, Catherine MacGregor, announced that the company's eligibility for U.S. tax credits in its battery projects depends crucially on the composition of Chinese content in their manufacturing. If the percentage exceeds a specified threshold, the credits may be at risk.

During an analyst call to discuss Engie's financial results, MacGregor emphasized the importance of adherence to the regulations, which aim to limit reliance on Chinese materials in sensitive projects.

This decision point comes at a time when Engie is closely monitoring international policies and market dynamics to strategically position itself in the renewable energy sector, amidst global supply chain challenges.

(With inputs from agencies.)