(Finance) – Is in the has the transfer was completed to Sosteneo Energy Transition, for 1.1 billion eurosof the minority share equal to 49% of the share capital of Enel Libra Flexsys, a company established for the creation and management of a portfolio of projects intended for capacity regulated services, specifically: 23 battery energy storage projects (Battery Energy Storage Systems, BESS) for a total capacity of 1.7 GW ; 3 projects for the renovation of open cycle gas plants (Open Cycle Gas Turbines, OCGT) for a total capacity of 0.9 GW.
The operation is in line with the partnership model outlined in the 2024-2026 Strategic Plan of the group, with the aim of maintaining control of strategic assets and maximising productivity and returns on invested capital, as stated in a note.
The sale of the share generates a total of one reduction of net financial debt consolidated group amount of approximately 1.1 billion euros, while it does not generate impacts on the group’s economic results as Enel continues to maintain control of Enel Libra Flexsys and, therefore, consolidate it fully.
The completion of the sale follows the provisions of the purchase and sale agreement announced on March 1, 2024, implementing which Sosteneo Energy Transition paid a consideration of approximately €1.10 for the purchase of 49% of the share capital of Enel Libra Flexsys. billion euros, subject to a post-closing adjustment mechanism typical for transactions of this kind. L’Enterprise Value referred to 100% of Enel Libra Flexsys upon completion of the investment cycle envisaged by the project was valued at approximately 2.5 billion euros.
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