Le stockage à grande échelle par batteries émerge comme une solution économique et rentable pour répondre aux besoins croissants de flexibilité des réseaux et à la problématique de la cannibalisation des prix liés à l’essor des énergies renouvelables intermittentes. Sur la base du plan de Capex estimé, nous sélectionnons Engie (Surperformance et OC à 22.5 €) dans le segment des Utilities intégrées et Grenergy (Surperformance, OC 90 € vs 81 €) dans celui des IPP pour s’exposer à cette thématique....
Large-scale battery storage is emerging as a cost-effective and profitable solution to the growing need for grid flexibility and the problem of price cannibalisation caused by the rise of intermittent renewable energies.. Based on the percentage of the estimated capex plan, we select Engie (Outperform and target price at € 22.5) in the integrated utilities segment and Grenergy (Outperform, target price € 90 vs € 81) in the IPP segment to gain exposure to this theme. We maintain our Outperformanc...
The fifth ODDO BHF Iberian Forum was held virtually, gathering 62 Iberian issuers and close to 200 institutional investors, making it one of the largest dedicated Iberian conferences of the year. The event generated 47 feedbacks, 6 target price revisions (including 4 downgrades), and a rating downgrade for Ence. The main topics of discussion were the impact of US tariffs and a weak USD on industrial companies, concerns about final demand in Europe and the US, and the sustainability of Spain’s ec...
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