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China State Power to buy Engie power plant in Brazil - Report

Power News - Published on Fri, 07 Sep 2018

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Reuters reported that China's State Power Investment Corp is in talks with Engie SA to purchase the French energy firm's Pampa Sul coal power plant in the southern Brazilian state of Rio Grande do Sul. Valor Economico, a Brazilian newspaper citing sources familiar with the matter as saying that the two parties are negotiating a sale in the range of 800 million to 1 billion reais (USD 265 million to USD 332 million).

The plant is still under construction and will have a capacity of 340 megawatts.

Engie, Europe's fourth largest utility by market value, has long been reducing exposure to coal and other conventional fossil fuel assets and moving to renewables.

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Posted By : Rabi Wangkhem on Fri, 07 Sep 2018
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