(Finance) – Is in thethrough its 100% subsidiary Enel Green Power (EGP), has finalized the sale of 50% of Enel Green Power Hellas (EGPH) to Macquarie Asset Management, following the occurrence of all the usual conditions precedent for this type of operation. In line with the agreement already communicated, EGP received a total consideration of approximately 350 million euros, equivalent to an enterprise value, on a 100% basis, of approximately 980 million euros.
Upon closing of the deal, EGP and Macquarie Asset Management entered into one shareholder agreement which provides for joint control of EGPH in order to co-manage the company’s current renewable generation portfolio and continue to develop its pipeline of projects, with a further increase in installed capacity.
The operation as a whole generated a positive impact on EBITDA ordinary and reported of the Enel group for 2023 for approximately 400 million euros (including the remeasurement at fair value of the remaining investment), in addition to an expected positive effect on consolidated net debt of the group expected for approximately 350 million euros. This amount does not include approximately €400 million of net debt deconsolidated in 2022, as EGPH was already classified as “held for sale”.
EGPH manages 59 plants equal to a total of 482 MW of installed capacity from wind, solar and hydroelectric sources, as well as six solar plants under construction, for a total capacity of 84 MW. EGPH is also committed to developing a portfolio of wind and solar plants, as well as expanding its activities into innovative solutions such as storage systems and hybrid projects.