ENGIE Divests Assets in Kuwait and Bahrain, Aligns with Net Zero Goals

ENGIE has announced a Sale and Purchase Agreement to divest its shareholding in major power and water desalination assets in Kuwait and Bahrain to ACWA Power. This move is part of ENGIE's strategic realignment to focus on achieving net zero by 2045. In Kuwait, ENGIE will sell its 17.5% stake in the Az Zour North plant, a facility with a 1.5 GW capacity capable of producing 107 million imperial gallons of water daily. In Bahrain, ENGIE will divest shares in three gas power and water desalination plants: Al Dur, Al Ezzel, and Al Hidd, along with their associated operations and maintenance companies.

This divestment represents ENGIE's intention to prioritize renewable energy, flexible generation, and low-carbon solutions. Despite these sales, ENGIE remains committed to the Gulf Cooperation Council (GCC) region's sustainable energy transition. The transaction is subject to regulatory approvals and closing conditions. ENGIE will continue investing in other green energy initiatives in the Middle East.