Engie to Exit 20 Countries as Pivot to Renewables Gathers Pace
28 Febbraio 2019 - 1:08PM
Dow Jones News
By Nathan Allen
Engie SA (ENGI.FR) said Thursday that it will exit around 20
countries in the next three years as part of a continuing strategy
to rebalance its portfolio and focus toward renewables.
The French utility company said it plans to invest up to 2.8
billion euros ($3.19 billion) in 9 gigawatts of renewable capacity
over the next three years, while selling off around EUR6 billion in
coal and natural-gas assets.
Half of the additional capacity will be dedicated to specific
customers under power-purchase agreements, rather than sold to a
grid, Engie said.
Over the same period Engie plans to invest between EUR4 billion
and EUR5 billion in services and up to EUR3.3 billion in its
distribution network.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
February 28, 2019 06:53 ET (11:53 GMT)
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