ENGIE announces the closing of asset disposals in the United States and in Asia

(January 8, 2017)--ENGIE continues to execute its transformation plan aimed at redesigning and simplifying its portfolio of activities, with namely the closing of the announced disposals in the United States, in India and in Indonesia.

Since the launch of the portfolio rotation program in February 2016, ENGIE has signed asset disposals amounting to 50% of the ?15 billion target over the 2016-2018 period, of which ?6.9 billion of transactions closed to date.

Reducing commodity price exposure
In the United States, ENGIE has successfully closed the sale of 8.7 GW [1] of thermal assets (8.0 GW gas-fired and 0.7 GW coal-fired), to a joint venture formed by Dynegy and ECP, for an enterprise value of $3.3 bn.

This deal results in a reduction of ?3 bn [2] of the consolidated net debt of ENGIE.

In North America, ENGIE develops activities related to power generation (mainly contracted), energy efficiency services (through Cofely, Ecova, OpTerra and Green Charge Networks), retail electricity sales, small scale LNG and LNG infrastructures, including its participation in the Cameron LNG liquefaction project currently under construction.

Reducing carbon footprint
ENGIE has concluded the sales of its interests in Meenakshi and Paiton, two coal-fired power plants located in India and in Indonesia representing 3 GW [3]of generation capacity, in September 2016 and December 2016 respectively.

These operations result in a reduction of ?1.5 bn of the consolidated net debt of ENGIE.

ENGIE?s 40.5% stake in the 2 GW [4] Paiton power plant located in Indonesia has been sold to Nebras Power Q.S.C (?Nebras?) and a combination of some of the existing Paiton shareholder(s). (ends)