Engie completes sale of 69% stake in Glow

ENGIE has announced the sale of its 69.1% stake in Glow to Global Power Synergy Public Company Ltd. for EUR2.6 billion (US$2.9 billion), following official authorization granted on 8 March 2019 from Thailand’s Energy Regulatory Commission. This transaction follows on from an initial share purchase agreement that ENGIE and GSPC signed in June 2018.

Glow is an independent energy producer that is listed on Thailand's stock exchange. It owns and operates production facilities in Thailand and Laos, and employs 800 people. Its portfolio includes total power generation capacity of 3.2 GW, made up of 1 GW of coal, 2 GW of gas and 0.2 GW of renewable energy. Glow also produces steam, as well as clarified and demineralized water.

After this disposal, ENGIE will no longer have any coal assets in the Asia-Pacific region. Coal will henceforth account for only 6% of the Group's total electricity production capacity, compared with 13% at the end of 2015, in compliance with the Group's strategy of reducing its carbon footprint.