Italian energy major Enel SpA (BIT:ENEL) is expected to close the 50% stake sale in its Greek renewable energy subsidiary to a unit of Australia’s Macquarie Group in May, sources in the know have told Reuters.
Enel Green Power Hellas 551.2-MW portfolio of wind, solar and hydropower capacity coming from 60 assets. The bundle includes 368.2 MW of wind, 163.7 MW of solar and 19.3 MW of hydroelectric plants, according to the company’s website as of end-September 2022.
Talks for the disposal of a roughly 50% stake in the Greek business are anticipated to be completed in the next few days, a knowledgeable source has said.
The divestment is part of Enel’s plan to tighten spending in 2023-2025 by shedding assets worth EUR 21 billion (USD 22.3bn) as it works to bring down net debt and focus on six core markets. The strategy envisages disposals in Romania, Peru, Argentina and Brazil. The sale in Romania was agreed in March, with Enel offloading its assets in the Balkan country to Greek power utility PPC SA for EUR 1.26 billion (USD 1.39bn). In Peru, the Italian group is selling Enel Peru’s stakes to China Southern Power Grid International.
(EUR 1.0 = USD 1.101)
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