ENGIE, a leader in low-carbon energy, announces the signing of a Sale and Purchase Agreement (SPA) for the divestment of its shareholding in Az Zour North, a combined gas and water desalination asset in Kuwait, three gas power and water desalination assets in Bahrain, and the associated operations and maintenance (O&M) companies to ACWA Power. This transaction will mark ENGIE’s exit from these two countries and will align with the Group’s commitment to achieving net zero by 2045.
In Kuwait, ENGIE will divest its 17.5% shareholding in the 1.5 GW capacity gas and desalination plant, capable of producing 107 million imperial gallons of water daily, as well as its 50% stake in Az Zour North O&M company.
In Bahrain, the divested assets consist of:
- Al Dur: 1.2 GW capacity and 48 MIGD, 45% share.
- Al Ezzel: 0.9 GW capacity, 45% share.
- Al Ezzel O&M: 100% owned by ENGIE, ensuring operations and maintenance of Al Dur and Al Ezzel facilities.
- Al Hidd: 0.9 GW capacity and 90 MIGD, with ENGIE holding a 30% share (integrated O&M company).
The decision to divest these assets is part of ENGIE’s roadmap and commitment to achieving net zero by 2045. With bold growth plans, ENGIE is focused on expanding its portfolio of renewable energy, flexible generation, and low-carbon energy solutions tailored for industrial partners.
By driving innovation and fostering long-term partnerships, ENGIE is dedicated to playing a pivotal role in the Middle East region’s sustainable energy transition and future development.
The completion of the transaction remains subject to customary regulatory approvals and closing conditions. ENGIE and ACWA Power are working closely to ensure a smooth transition of ownership of the assets while maintaining uninterrupted output.
ENGIE has been a significant player in the Gulf Cooperation Council (GCC) region, offering efficient gas-fired power solutions, desalinated water production, district cooling, hydrogen and battery storage for more than 30-years. ENGIE remains committed to the region and will continue to invest in renewable energy projects, flexible generation and innovative low-carbon solutions.
