French power group, Engie plans to sell around $3bn worth of power plant assets, according to a newsletter repGerard Mestralletort.

La Lettre de l’Expansion asserted that the company, formerly known as GDF-Suez is looking to offload coal-fired power plant assets over the next two years in part of an overall plan to sell up to $20bn worth of its entire asset portfolio.

The newsletter said Engie, led by Gerard Mestrallet, also plans to sell around $3bn worth of exploration and production assets and $5bn worth of US plants, and some infrastructure assets.

The asset sales list also includes various other non-strategic assets worth around $5bn, as well as the opening of the capital of Engie’s Belgian unit Electrabel, the newsletter said.