ENGIE to Exit Kuwait and Bahrain Markets with Asset Sale to ACWA Power

ENGIE from France enters a vital agreement with ACWA Power by selling its power generation and water desalination business operations across Kuwait and Bahrain. As a 2045 net-zero target holder ENGIE sells these assets totally from these markets to meet its energy goals. ENGIE sold its share in the Az Zour North facility to ACWA Power including its 17.5% stake and the complex with 1.5 GW capacity that generates 107 million imperial gallons daily.

Three major assets make up Bahrain portfolio: Al Dur facility with 1.2GW electricity production and 48MIGD water production (45% share), Al Ezzel at 0.9GW capacity (45% share), and Al Hidd power plant with 0.9GW capacity and 90MIGD water production (30% share). ENGIE owns all maintenance and operations businesses it manages under the Al Ezzel contract as part of this transaction.

After leaving Kuwait and Bahrain ENGIE remains dedicated to serving the Gulf Cooperation Council area which it has served for three decades. The firm decides to pivot its business by working on renewable power projects plus flexible generation technologies together with energy-related low-carbon solutions. ENGIE and ACWA Power will jointly manage the transaction and run these facilities as normal before regulatory and closing conditions are met.