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An update from Engie SA ( (FR:ENGI) ) is now available.
ENGIE has announced its strategic decision to divest its power and water desalination assets in Kuwait and Bahrain, transferring ownership to ACWA Power. This move aligns with ENGIE’s roadmap to achieve net zero by 2045 and marks its exit from these two countries. The divestment includes shares in several plants and operations companies, emphasizing ENGIE’s commitment to expanding its renewable and low-carbon energy portfolio. While exiting these markets, ENGIE plans to continue investing in the Gulf Cooperation Council region, focusing on renewable energy projects and low-carbon solutions to support sustainable energy transition efforts.
More about Engie SA
ENGIE is a global leader in low-carbon energy and services, employing 97,000 people to accelerate the transition toward a carbon-neutral economy. The company focuses on reducing energy consumption and offering environmentally friendly solutions across its key businesses, including gas, renewable energy, and services, with a turnover of €82.6 billion in 2023. ENGIE is listed on the Paris and Brussels stock exchanges and is part of several major financial and non-financial indices.
YTD Price Performance: 0.78%
Average Trading Volume: 2,151,969
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: €37.75B
See more insights into ENGI stock on TipRanks’ Stock Analysis page.
