Economy

Engie to divest from Morocco's Safi coal plant before 2027

Date: Apr 27, 2024

French energy firm Engie plans to sell its stake in Morocco's largest coal plant in Safi (SAFIEC), to focus on renewables and energy infrastructure, the company's North Africa director said on Friday.

"By January 2027, we plan to have already divested from all our coal assets," Loic Jaegert-Huber told Reuters on the sidelines of a Moroccan-French business forum in Rabat.

"We are committed to divest from SAFIEC," where Engie has a 33% stake, he said.

The company has received expressions of interests from potential buyers, he said, without elaborating.

Engie's partners are considering green ammonia as an option to decarbonise the 1,386 MW plant, he said.

Engie also operates a 300MW wind park in Tarfaya, Morocco's largest, and is building a desalination plant and a wind farm to power it in Western Sahara's Dakhla, in partnership Moroccan private energy company Nareva.

--Reuters--

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