FRANCE: ​Engie initiates equity sell-down process for circa 1 GW project portfolio

Engie has begun a staggered process to divest a 49% stake in a circa 1 GW portfolio of onshore wind and solar PV assets across France, Germany and Italy, it is understood.

The French power giant has in recent weeks been inviting indicative offers for a 49% stake in an initial 600 MW portfolio of operational French assets, principally comprising solar PV projects, with a small handful of financial investors believed to be circling the transaction.

While the process for the initial 49% stake sale is expected to conclude later this year, Engie will subsequently launch two further 49% stake sales for two additional circa 200 MW batches over 2025-2026, according to market sources.

The second portfolio is made up of ready-to-build solar assets in France and Italy, and around half a dozen onshore wind projects in Germany that are due for repowering.

The third and final batch mainly comprises solar PV projects in France and Germany that are currently in development.

Engie is being advised on the process by BNP Paribas (financial).

Engie was contacted for comment.

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