ENGIE, a frontrunner in low-carbon energy solutions, has announced the signing of a Sale and Purchase Agreement (SPA) to divest its stake in Az Zour North, a combined gas and water desalination facility in Kuwait, along with three gas power and water desalination plants in Bahrain, and their related operations and maintenance (O&M) companies to ACWA Power.
This transaction signifies ENGIE’s withdrawal from these two nations and aligns with the Group’s goal of achieving net zero emissions by 2045.
In Kuwait, ENGIE will sell its 17.5% stake in the 1.5 GW gas and desalination plant, which has a daily production capacity of 107 million imperial gallons of water, as well as its 50% interest in the Az Zour North O&M company.
In Bahrain, the assets being divested include:
- Al Dur: 1.2 GW capacity with a 48 MIGD production rate, 45% ownership.
- Al Ezzel: 0.9 GW capacity, 45% ownership.
- Al Ezzel O&M: Fully owned by ENGIE, responsible for the operations and maintenance of Al Dur and Al Ezzel facilities.
- Al Hidd: 0.9 GW capacity with a 90 MIGD output, where ENGIE holds a 30% stake (integrated O&M company).
This divestment is part of ENGIE’s strategic plan and commitment to reach net zero by 2045. With ambitious growth objectives, ENGIE is dedicated to enhancing its portfolio of renewable energy, flexible generation, and low-carbon energy solutions designed for industrial partners.
Source : ENGIE
