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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Schneider Electric SE    SU   FR0000121972

SCHNEIDER ELECTRIC SE

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Schneider Electric : Acciona Energa joins Schneider Electric in a global network for renewable energies

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01/12/2019 | 04:40am EDT

Acciona Energa and Schneider Electric today announced that the world`s leading renewable energy company has joined the New Energy Opportunities Network (NEO) Network) , from Schneider, a dynamic business community with a vision of future and committed to buy and develop renewable energy and clean technologies around the world. The NEO network will provide its more than 150 commercial and industrial member companies with more purchase options to meet their sustainability objectives. It will also help ACCIONA to rationalize the expansion of its portfolio.

"Joining the NEO network is an important strategic and global initiative for ACCIONA," says Santiago Gmez Ramos, Director of Energy Management at ACCIONA Energy. "The network provides a range of centralized services and offers access to a broad market, which will allow us to streamline our renewable energy offers for companies, and as a result, we should be able to accelerate the processing of projects. Years of designing, financing and building can now be online in a year. "

ACCIONA owns and operates more than 9,000 megawatts of renewable capacity in 15 countries, generating more than 20 terawatt-hours of green energy per year, enough electricity to supply almost 93 million square meters of office space, the equivalent of 13,000 football fields. In addition, the company is building more than 1,000 MW of wind and solar photovoltaic energy. Sustainability is a key aspect for the company that, for the fourth year in a row, has been designated as the greenest electricity services company in the world by Energy Intelligence, an independent consultancy in the energy market.

The global alliance between ACCIONA and Schneider Electric comes at the right time, since the purchase of renewable energies by companies is breaking records year after year, both in consolidated and new markets. In 2018 alone, commercial and industrial organizations contracted more than 8.7 gigawatts through large-scale renewable energy purchase agreements (PPAs) in 28 countries.

The NEO network was launched in 2016 by Schneider Electric Energy & Sustainability Services, the world`s largest renewable energy corporate consultancy. ESS has advised clients on large-scale renewable PPA purchase agreements, worth more than 4.5 gigawatts, in North America, Europe, Asia and Australia. The NEO network responds to the needs of more than 150 multinational companies and solution providers in these regions, with the aim of accelerating decision-making on clean and renewable technologies.

"This partnership, which is an exciting milestone for both companies, demonstrates the global influence of the NEO network," said John Hoekstra, vice president of Sustainability and Clean Technology Services at Schneider Electric. "While ACCIONA promotes the development of renewable energies, we will provide the intelligence and connections that give the business community the confidence to increase the pace of their efforts in favor of sustainability, which is good for their results, for the economy local and global and the planet. "

Through the NEO network, ACCIONA will have access to market reports and greater exposure to the corporate buyers community, which will allow the company to innovate and advance in renewable energy transactions throughout the world.

Qualified corporate buyers can request access to the NEO Network through the recently announced Accelerator Access program, and suppliers of renewable energy solutions and clean technologies through subscription.

(c) All KUNA right are reserved 2019. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
ACCIONA 0.10% 98.06 End-of-day quote.32.69%
SCHNEIDER ELECTRIC SE -3.48% 67.74 Real-time Quote.13.43%
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Financials (€)
Sales 2019 26 872 M
EBIT 2019 3 892 M
Net income 2019 2 579 M
Debt 2019 4 969 M
Yield 2019 3,65%
P/E ratio 2019 14,51
P/E ratio 2020 13,46
EV / Sales 2019 1,64x
EV / Sales 2020 1,56x
Capitalization 39 218 M
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Number of Analysts 19
Average target price 70,2 €
Spread / Average Target 3,6%
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NameTitle
Jean-Pascal Tricoire Chairman & Chief Executive Officer
Christel Heydemann Executive Vice President-France Operations
Emmanuel Andre Marie Babeau Deputy Chief Executive Officer-Finance & Legal
Hervé Coureil Executive Vice President-Information Systems
Cathy Kopp Independent Director
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