Enel Unit EGPE Signs Agreement With Masdar On Spanish Solar Plants Management
July 25 (Reuters) -Enel SpA ENEI.MI:
EGPE SIGNS PARTNERSHIP WITH MASDAR FOR MANAGEMENT OF SOLAR PLANTS IN SPAIN
AGREEMENT TO SELL 49.99% STAKE IN EGPE SOLAR TO MASDAR, FOR TOTAL CONSIDERATION OF EUR 817 MILLION
TOTAL ENTREPRISE VALUE OF EGPE SOLAR RECOGNIZED IN AGREEMENT IS EQUAL TO AROUND EUR 1.7 BILLION
PARTNERSHIP ALSO FORESEES 15-YEAR POWER PURCHASE AGREEMENTS (PPAS) UNDER WHICH ENDESA, THROUGH SUBSIDIARY, IS EXPECTED TO ACQUIRE 100% OF THE ENERGY GENERATED BY THE PV PLANTS INVOLVED IN THE DEAL
PARTNERSHIP ENVISAGES AS WELL POTENTIAL FUTURE BATTERY ENERGY STORAGE SYSTEM (BESS) HYBRIDIZATION ON PORTFOLIO OF PLANTS, FOR UP TO MAXIMUM OF 0.5 GW OF INCREMENTAL CAPACITY
OVERALL TRANSACTION EXPECTED TO GENERATE A REDUCTION OF ENEL GROUP’S CONSOLIDATED NET DEBT OF EUR 817 MILLION IN 2024
Further company coverage: ENEI.MI
(Gdansk Newsroom)
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