After losing €2.9 billion from Belgium because of the country’s plans to abandon nuclear energy by 2025, the French energy giant Engie has announced its intent to get out of coal by 2027.
Engie pledged to leave behind the highly polluting and carbon-emitting energy source by 2025 in Europe, and 2027 for the rest of the world.
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The company’s net losses were €1.5 billion in 2020, against a €1 billion profit in 2019. The energy giant says that the coronavirus played a role in those losses.
“Our priority for these assets is to find conversion solutions,” Managing Director Catherine MacGregor told journalists, adding that assets may also be closed and in some specific cases sold.
The Brussels Times