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ENGIE closes €2.6B sale of interest in Thai power producer

ENGIE SA completed the €2.6 billion sale of its 69.1% interest in Thai independent energy producer Glow Energy Public Co. Ltd. to Global Power Synergy Public Co. Ltd., a subsidiary of PTT PCL, after securing approval from Thailand's Energy Regulatory Commission.

Glow owns production facilities in Thailand and Laos. Its portfolio includes total power generation capacity of 3.2 GW, consisting of coal, gas and renewable energy resources. The buyer is a Thai power generator.

Through this divestment, ENGIE will no longer have any coal assets in the Asia-Pacific region and coal will now only account for 6% of the group's total electricity production capacity. The company aims to reduce its carbon footprint, noting that coal accounted for 13% of its total electricity production capacity at the end of 2015.

In February, the French company previously announced that it was exiting 20 unidentified countries to focus on new markets in Southeast Asia, where Thailand is located, and in Africa.