This disposal is in line with the company's strategy aimed at reducing the group's carbon footprint, and focusing on low-carbon activities, global networks and client solutions, a press release said.
"With the disposal of its interests in Glow, Engie will no longer operate any coal-fired assets in Asia-Pacific, and will reduce its global coal-fired generation installed capacity by 14 percent," it added.
Glow owns and operates production facilities across Thailand and Laos and counts 800 employees. Their portfolio has a total power generation capacity of 3.2 gigawatts (GW), comprising 1 GW of coal, 2 GW of gas and 0.2 GW of renewable energy, according to the statement.
Engie said, while reducing - and with this transaction eliminating - its coal capacity in the region over the last 3 years, it continued to run a 4.2 GW fleet in Asia-Pacific mainly driven by gas assets and a growing capacity in renewables.
The proposed transaction is subject to customary approvals and regulatory consents, with completion expected before the year's end.
(Anadolu Agency, 20/ 06/2018)