(MENAFN) French energy giant Engie has announced its intention to divest its stake in Morocco's largest coal plants, operated by the Moroccan energy company Safi, as part of its strategic shift towards renewable energy initiatives. The decision was disclosed by Engie's regional director for North Africa, Loic Geigert-Huber, during the French-Moroccan Business Forum in Rabat. Geigert-Huber outlined Engie's ambitious plan to liquidate all its assets in the coal sector by 2027, including its 33 percent stake in the Safi coal plants.
Engie's move towards divesting its coal assets aligns with its broader commitment to prioritize renewable energy ventures. Geigert-Huber mentioned that the company has already received offers from multiple potential buyers, although specific details were not disclosed. Engie's partners involved in the Safi coal plants are reportedly exploring the possibility of transitioning towards green ammonia production to mitigate carbon emissions from the facility, which boasts a capacity of 1,386 megawatts.
Meanwhile, Engie has been actively expanding its presence in Morocco's renewable energy landscape. The company currently operates a wind station with a capacity of 300 megawatts in the city of Tarfaya, making it the largest wind station in the country. Additionally, Engie is engaged in establishing a water desalination plant in the city of Dakhla, situated in Western Sahara, alongside a wind farm in the same region. These initiatives are being pursued in collaboration with Moroccan renewable energy specialist Nareva, with the aim of providing sustainable energy solutions while reducing reliance on fossil fuels.
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