Engie looks to offload Brazil coal-fired assets

Thursday, February 16, 2017

France's Engie has begun a process to identify potential buyers for its coal-fired power generation assets in Brazil.

In a statement, the energy group said it selected Morgan Stanley to carry out a market survey for the 857MW Jorge Lacerda plant in Santa Catarina state and the 340MW Pampa Sul plant under construction in Rio Grande do Sul state.

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"We are not yet in the phase of selling the assets but this potential operation would be in line with Engie's decarbonization strategy worldwide," the company's Brazil CEO and Engie Brasil Energia chairman, Mauricio Bähr, said in a statement.

The group added it sees the potential sale as an opportunity to invest further in renewable energy.