ENGIE: replacing one problem with another

The document criticizes ENGIE's coal phase-out strategy, claiming the company avoids genuine decarbonization by selling coal plants to third parties or converting them to fossil gas and solid biomass. It highlights specific asset sales in Europe, Brazil, and Morocco, and conversions in Chile, arguing these actions are not aligned with a 1.5°C trajectory and risk ecological damage.

• ENGIE has reduced its coal capacity primarily through the sale of assets rather than closures, selling 16 coal plants since COP21, which represents 60% of its total coal capacity reduction.
• The company has sold coal power plants in Germany and the Netherlands to Riverstone Holdings, a private equity firm that continues to operate them, and has sold its remaining two coal plants in Brazil (Jorge Lacerda and Pampa Sul), while currently seeking to sell the Safi coal plant in Morocco.
• In Chile, ENGIE is converting the Andina and Hornitos coal plants to solid biomass (wood), with completion expected by the end of 2024, and converting the IEM coal plant to fossil gas.
• The conversion to wood pellets or chips in Chile is criticized by NGOs Chile Sustentable and Biofuelwatch for potentially causing significant damage to forests and ecosystems and creating conflict in local communities due to the high volume of wood required.
• There are concerns regarding the origin of the fossil gas for the IEM plant in Chile, with risks that it could be shale gas sourced as LNG from the United States or via pipeline from Vaca Muerta in Argentina.

APA

Martin, L. (2022). ENGIE: replacing one problem with another. Reclaim Finance. https://reclaimfinance.org/site/en/2022/11/16/engie-replacing-one-problem-with-another/

Chicago

Martin, Léo. ENGIE: replacing one problem with another. Reclaim Finance, 2022. https://reclaimfinance.org/site/en/2022/11/16/engie-replacing-one-problem-with-another/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=ENGIE: replacing one problem with another |publisher=Reclaim Finance |date=16 November 2022 |url=https://reclaimfinance.org/site/en/2022/11/16/engie-replacing-one-problem-with-another/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2022engie, author = {Martin, Léo}, title = {{ENGIE: replacing one problem with another}}, publisher = {Reclaim Finance}, year = {2022}, month = nov, url = {https://reclaimfinance.org/site/en/2022/11/16/engie-replacing-one-problem-with-another/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }