Enel Green Power International B.V. (EGPI), a wholly owned subsidiary of Enel S.p.A, and Endesa Generacion S.A., a wholly owned subsidiary of Endesa S.A., have signed and executed an agreement for EGPI to sell 60% of Enel Green Power Espana S.L. (EGPE) to Endesa Generacion.
EGPE operates directly or indirectly through subsidiaries in the generation of electricity from renewable resources in Spain. As of Dec. 31, 2015, EGPE directly and indirectly operated a portfolio of plants with a consolidated installed capacity of about 1.7 GW – of which 95% were wind farms.
Endesa Generacion already holds the remaining 40% of EGPE and will therefore control 100% of the company’s share capital following the transaction.
The price paid by Endesa Generacion for the stake acquired was set at around EUR 1.207 billion.
The transaction is consistent with Enel’s strategy of rationalizing and simplifying its structure in the countries in which it operates, the company says. At the same time, the transaction enables Endesa to expand its presence in the renewables sector in the Iberian Peninsula, adds Enel.