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catherine macgregor

T3 · host / generalist

CEO of Engie since 2021; previously worked on oil rigs in Congo and held operational roles at Schlumberger; serves on Microsoft board; led Engie through European energy crisis and energy transition strategy.

1 call·1 name·100% bull·last heard last year·In Good Company with Nicolai Tangen
track record

no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY

top calls

highest conviction · one per company
1sthigh conviction
$ENGIEngie

Engie CEO outlines 22-24B euro capex plan targeting 95 GW renewables by 2030 with strict value creation discipline

Engie is deploying 22-24 billion euros over three years with 90% focused on 10 countries, 85% taxonomy-aligned, requiring 200bps spread over WACC per project, prioritizing 'smart electrons' that add system value rather than dumb renewable capacity.

In Good Company with Nicolai Tangen2025-07episode →

most discussed · click a bar to filter

  • $ENGI

recurring themes

  • Grid & Power Infrastructure1
  • AI Infrastructure1
  • Private Credit1
  • Energy & Power Generation1
  • Nuclear Energy1
1 total
$ENGI
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Engie
HIGHcatherine macgregor·In Good Company with Nicolai Tangen·last year·Catherine MacGregor - CEO of Engie | Podcast | In Good Company | Norges Bank Investment Management
Engie CEO outlines 22-24B euro capex plan targeting 95 GW renewables by 2030 with strict value creation discipline
Engie is deploying 22-24 billion euros over three years with 90% focused on 10 countries, 85% taxonomy-aligned, requiring 200bps spread over WACC per project, prioritizing 'smart electrons' that add system value rather than dumb renewable capacity.
"Obviously, we have a a very clear strategy on how we want to deploy our capital. Uh we have these 22 to 24 uh billion euros plans over 3 years. We have clear priorities uh renewab…"
16:32
9
Grid & Power Infrastructuretailwind
European grid interconnections and storage critical for renewable integration and price stability
Europe's integrated grid enables leveraging diverse production (northern wind, southern solar, nuclear) to lower system costs, but requires targeted interconnection upgrades complemented by battery storage and capacity remuneration mechanisms (CRM) to manage bottlenecks and ensure investability of flexible assets.
9
AI Infrastructuretailwind
Tech giants driving green power demand through 24/7 matching PPAs, creating structural tailwind for renewables and storage
AI data centers consume power equivalent to cities of 100k people; tech companies are demanding hourly-matched green power (24/7 CFE) and funding additional renewable capacity, raising decarbonization standards while requiring careful management of local grid affordability impacts.
8
Private Credittailwind
Private capital essential for energy transition but requires regulatory stability, fair risk-reward, and pragmatic policy
Massive capital needs for transition demand private investment; investors need stable regulation, technology-neutral policies, and risk-reward matching — Europe must compete with China's rapid deployment while maintaining industrial competitiveness.
8
Energy & Power Generationtailwind
Renewables plus storage and grid can deliver competitive European power prices as Spanish example shows
Electrification rising from 16-18% to 50% of final energy by 2050 requires full system build-out; Spanish power prices now lowest in Europe demonstrate renewables abundance with storage/grid lowers costs, while existing nuclear extensions provide complementary low-carbon baseload.
8
Nuclear Energymixed
Nuclear is necessary but insufficient alone; existing plant extensions valuable, new build faces cost and waste challenges
Nuclear provides low-carbon baseload but cannot be the sole solution due to waste, cooling constraints, and new-build economics; technology-neutral approach combining nuclear, renewables, hydro, and storage is optimal for decarbonization.
7
Critical Minerals & Supply Chainrisk
Europe must diversify solar supply chain away from 80% China dependence while balancing panel cost vs power cost
Over-reliance on Chinese solar panels (80% market share) creates strategic risk; Europe should relocalize production but find the right balance between panel price and resulting power cost to maintain competitiveness.