(Finance) – Enel informs that Egpe, a group of the controlled group through Endesa, has signed an agreement with Masdar, the leader in the clean energy of the United Arab Emirates, for the sale to the latter of a minority participation, equal to 49.99% of the share capital, in Egpe Solar 2vehicle that holds four photovoltaic assets of Endesa operational in Spain for a total installed capacity of 446 MW.
The operation, explains a note, provides for the recognition of a consideration by Masdar of 184 million euros For the acquisition of 49.99% of the share capital of Egpe Solar 2, a fee subject to the adjustment mechanisms typical of operations of this kind. THE’Enterprise Value Referred to 100% of Egpe Solar 2 recognized in the agreement is 368 million euros.
This new agreement follows the partnership of the Enel group already perfected with Masdar in December 2024 relating to a 2 GW portfolio of other solar operations operating in Spain on the date of signing of the previous agreement.
The operation is part of a long -term collaboration with Masdar, which also includes energy purchase contracts (Power Purchase Agreements, PPA) lasting 15 years through which Endesa is expected, through a controlled company, will acquire the energy generated by photovoltaic systems subject to the operation.
The announcement announced today is expected will generate a reduction in net financial indebtedness Consolidated of the Enel group of 184 million euros in 2025 while no impacts are expected on the economic results of the group as, the improvement of the operation, Enel will continue to maintain control of Egpe Solar 2 and fully consolidate the company.
The closing of the operationforeseen in the second quarter of 2025, is subject to some suspension conditions typical of this type of operations, including the release of the authorization of the Spanish government on foreign investments.
The operation is in line with the “partnership” model outlined by Enel on its strategic plan 2025-2027 with the aim of maintaining control of strategic assets and maximizing productivity and returns on the invested capital.