Engie sells stake in coal-fired plants

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Shearman & Sterling has advised French company Engie Global Developments on the sale of its 89.11% shareholding in Meenakshi Energy to India Power Corporation. The deal value was not disclosed.

Coal_fireMeenakshi Energy owns two coal-fired power plants in Andhra Pradesh, with a total capacity of 1,000 MW. The sale was intended to reduce Engie’s worldwide carbon dioxide emissions.

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