Deliver Your News to the World

Enel finalizes agreement to sell a geothermal and solar portfolio in the United States to ORMAT


Rome – WEBWIRE
  • The portfolio of approximately 150 MW comprises operational geothermal and solar facilities
  • The deal is expected to generate a positive effect on the Enel Group´s consolidated net debt of about 250 million euros1 and a negative impact of around 30 million euros1 on Group reported net income, while bearing no impact on Group ordinary economic results


Enel S.p.A. (“Enel”), acting through its wholly-owned subsidiary Enel Green Power North America Inc. (“EGPNA”), has closed an agreement with ORMAT Technologies Inc. (“ORMAT”) on the sale of a renewable asset portfolio in the United States for a total consideration of 271 million US dollars, equivalent to approximately 250 million euros[1], subject to customary transactional adjustments. The assets sold include EGPNA’s entire geothermal portfolio as well as a number of small solar plants, with a total capacity of about 150 MW of operating plants.

The overall transaction, which was closed following the fulfillment of certain conditions precedent, is expected to generate a positive effect on the Enel Group´s consolidated net debt of about 250 million euros[1] and a negative impact of around 30 million euros[1] on Group reported net income while bearing no impact on Group ordinary economic results.

The transaction does not alter the over 8 GW profile of the Enel Group’s renewable consolidated capacity in the United States, confirming Enel Green Power North America as one of the largest renewable power producers in the region[2] through its core technology portfolio.

 

[1] Currency conversion rate as of January 2nd, 2024.

[2] Enel Green Power’s post-deal renewable consolidated capacity (solar, wind and hydropower) amounts to around 9.7 GW in North America, namely the United States, Canada and Mexico. 


( Press Release Image: https://photos.webwire.com/prmedia/6/316189/316189-1.png )


WebWireID316189





This news content was configured by WebWire editorial staff. Linking is permitted.

News Release Distribution and Press Release Distribution Services Provided by WebWire.