Green bonds issued between October 2024 to October 2025
Green bonds – October 2025
Final Terms for the € 500,000,000 NC6.5 green hybrid (including the Use of Proceeds clause)
09.10.2025 – 557.1 Ko
Final Terms for the € 500,000,000 NC9.5 green hybrid (including the Use of Proceeds clause)
09.10.2025 – 558.3 Ko
Green bond – September 2025
Final Terms for the EUR 700,000,000 tranche maturing September 11, 2037 (including the Use of Proceeds clause)
13.04.2026 – 354.6 Ko
Green bond – April 2025
Final Terms for the CHF 100,000,000 tranche maturing April 11, 2029 (including the Use of Proceeds clause)
09.04.2025 – 460.5 Ko
Final Terms for the CHF 200,000,000 tranche maturing April 11, 2033 (including the Use of Proceeds clause)
13.04.2026 – 442.6 Ko
Green bond – October 2024
Final Terms for the GBP 500,000,000 tranche maturing October 28, 2050 (including the Use of Proceeds clause)
24.10.2024 – 473.5 Ko
The 2025 allocations are governed by the criteria of the June 2023 Green Financing Framework, in line with the conditions of the allocated green bonds. During the year, ENGIE allocated €3.0 billion in eligible green projects, as broken down below:
Breakdown of amounts allocated to ENGIE SA’s various green bonds in 2024 and 2025, including reallocations following redemptions and amounts remaining to be allocated. Amounts are expressed in millions of euros.
As a result of these allocations, the balance of the funds raised by the PNC9 hybrid green bond issued in June 2024 (already partially allocated in 2024), as well as all the funds raised by the four senior green bonds issued between October 2024 and September 2025, the tap of a green bond issued in July 2025, and the PNC6.5 hybrid green bond, were fully allocated. In accordance with the principle of allocation by seniority and maturity, none of the funds raised by the PNC9.5 hybrid green bond issued in October 2025 were allocated in 2025.
Reallocations
Following the redemption displayed in the table above, the eligible green projects previously allocated to the redeemed bond were partially reallocated to the green bonds issued between June 2024 and October 2025.
The total amount reallocated is €199.8 million, established based on the initial amount allocated to the various Eligible Green Projects meeting the criteria of the 2023 Green Financing Frameworks.
The main category of reallocated eligible green projects relates to renewable wind energy production (€134.5 million, including the CN’AIR project in France and the King Plains and Triple H projects in the United States), followed by solar (€41.0 million), renewable and low-carbon gas transmission and distribution networks (€11.2 million) and bioenergy (€11.8 million). The reallocated amounts relate to eligible green projects located mainly in North America (50%) and Europe (47%).
New allocations
The funds allocated to eligible green projects in 2025 include €2.4 billion for investments made in 2025 (including €457.7 million in financial capex for the acquisition of pure players, and €187.7 million in maintenance capex), and €0.4 billion for investments made in 2024 (mainly financial capex for the acquisition of pure players).
- Renewable energy production: a total amount of €2.1 billion was allocated to eligible green projects related to renewable energy production.
At the end of 2025, the Group’s installed renewable electricity production capacity, taken at 100%, represented 50% of its total installed capacity. ENGIE continued expansion of renewable assets, mainly wind and solar by developing new projects, particularly in North America and Europe and investments in offshore wind via the joint venture, Ocean Winds.
Portfolio growth was also supported by the acquisition in 2025, of two hydropower plants in Brazil with a total installed capacity of 612 MW. - Energy storage: a total amount of €508.2 million was allocated to eligible green projects relating to energy storage.
The eligible green projects in question include:
• the development of battery storage units in the United States, either independent or co-located with a renewable energy production asset;
• the Dinorwig (1,728 MW) and Ffestiniog (360 MW) pumped storage facilities in the United Kingdom, owned and operated by First Hydro, which is 75% owned by ENGIE;
• the Coo pumped storage plant (Belgium), where investments are being made to expand its storage facilities to increase its installed power by 79 MW;
• power battery storage projects in Belgium, the Netherlands and Australia. - Transmission and distribution infrastructure: a total of €139.6 million was allocated to eligible green projects in this domain.
These allocations relate, in particular, to investments to connect biomethane production units to ENGIE distribution and transport networks. - Clean mobility: a total amount of €22.7 million was allocated to eligible green projects relating to low-carbon mobility.
- Energy efficiency: a total of €13.1 million was allocated to eligible green projects relating to energy efficiency.
Geographical distribution of emissions avoided, dominated by Asia, the Middle East, and Africa, which account for 45% of the total, followed by North America at 35%.
Impact reporting
The impact reporting only takes into account the new projects listed above. Reallocated projects following the buyback of previous issues are excluded.
In the full operation phase, projects are expected to contribute to avoid 3.37 million tons of CO2 eq. per year:
- for renewable projects: 3.08 million tons of CO2 eq./year
- for storage projects: 0.29 million of CO2 eq./year
Technological and regional breakdowns of the impacts in tons of CO2 eq. per year of the projects are presented below (at 100%).
The contributions to avoided emissions are presented in the following table, using different weighting methods:
- at 100% regardless of the Group’s ownership rate and the nature of the CapEx
- according to the Group’s ownership rate and regardless of the nature of the CapEx
- at 100% considering only the development CapEx
- according to the Group’s ownership rate and taking only the development CapEx
| Avoided and reduced CO2 emissions (tCO2eq./year) by technology | ||||
| (a) linked to CapEx at 100% | (b) linked to CapEx at % of ownership | (c) linked to development CapEx at 100% | (d) linked to development CapEx at % of ownership | |
| Solar power | 1,352,043 | 744,059 | 1,280,009 | 672,026 |
| Wind power | 1,238,406 | 444,339 | 233,170 | 92,506 |
| Bioenergy | 306,078 | 306,078 | 301,383 | 301,393 |
| Energy storage | 291,910 | 125,921 | 291,910 | 125,921 |
| Hydro | 144,980 | 144,980 | – | – |
| Geothermal | 39,603 | 34,978 | 39,603 | 34,978 |
| Renewable gas | – | – | – | – |
| Hydrogen | 5,000 | – | 5,000 | – |
| Energy efficiency | 13 | 13 | 13 | 13 |
| Clean mobility | – | – | – | – |
| Total | 3,378,034 | 1,800,369 | 2,151,088 | 1,226,827 |
Statement of finalized allocations
Breakdown of green bond proceeds by project type and geographic region in 2025 (in millions of euros).
Detailed breakdown of allocations for the FR001400TMR8 green bond by technology, project, and geographic region (in millions of euros), for a total of €600 million.
Breakdown of allocations from the CH1400000027 green bond by type of energy project and geographic region (in millions of euros).
Detailed breakdown of allocations from the CH1400000035 green bond by technology type, project, and geographic region (in millions of euros), for a total of €209.4 million.
Detailed breakdown of allocations for the FR0013455813 green bond by technology, project, and geographic region (in millions of euros), including amounts allocated in 2025 and historical allocations since 2020.
Detailed breakdown of allocations from the FR0014012L86 green bond by technology, project, and geographic region (in millions of euros), for a total of €700.0 million.
Detailed breakdown of allocations from the FR0014013BG2 green bond by technology, project, and geographic region (in millions of euros), for a total of €500.0 million.
Green bonds issued / associated allocations and impact
Green bonds issued in 2026
Green bonds issued between October 2024 to October 2025
Green bonds issued between September 2023 and June 2024
Green bonds issued between January and September 2023
Green bonds issued between October 2021 and September 2022
Green bonds issued between March 2020 and July 2021
Green bonds issued between June and October 2019
Green bond issued in January 2019
Green bond issued in January 2018
Green bond issued in September 2017
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