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Report: Engie negotiating sale of coal-fired plant in Brazil to Chinese firm

ENGIE SA is in talks to sell its stake in the under construction 340-MW coal-fired Pampa Sul project to China's State Power Investment Corp. Ltd., according to a Sept. 5 report by Reuters.

The companies are reportedly negotiating a sale in the range of 800 million to 1 billion Brazilian reais.

The power plant is located in Rio Grande do Sul. The French electric utility giant said in a statement to Reuters that it is selling its Brazilian coal assets as part of its global strategy.

As of Sept. 6, US$1 was equivalent to 4.06 Brazilian reais.