French utility Engie said Wednesday it was to sell its 69.1% interest in Thailand-based power producer Glow Energy, as the company continues to reduce its global coal-fired capacity.
"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%," Engie said.
Engie continues to run a 4.2 GW fleet in Asia-Pacific, mainly driven by gas assets and a growing capacity in renewables.
Glow Energy owns and operates production facilities across Thailand and Laos, with a total power generation capacity of 3.2 GW, comprising 1 GW of coal, 2 GW of gas and 0.2 GW of renewable energy, according to Engie.
Engie's stake in Glow will be purchased by Thai independent power producer Global Power Synergy Public Company. The sale translates into net proceeds of Eur2.6 billion ($3.0 billion), according to Engie.
