Enel: sale to Masdar finalised
(CercleFinance.com) - Enel has finalised the sale of a 49.
99% minority stake in EGPE Solar to Masdar, the leading clean energy company in the United Arab Emirates.
This entity holds Endesa's operating photovoltaic (PV) assets in Spain, with a total installed capacity of around 2 GW.
Masdar paid around 850 million euros for the acquisition of 49.99% of EGPE Solar's share capital. The 100% enterprise value of EGPE Solar is approximately E1.7bn.
The transaction is part of a long-term partnership with Masdar, which also includes 15-year power purchase agreements (PPAs) under which Endesa, through a subsidiary, is expected to acquire 100% of the energy generated by the photovoltaic assets.
The transaction has reduced the Enel Group's consolidated net debt by around 850 million euros in 2024. Enel retains control and fully consolidates EGPE Solar in its accounts.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
99% minority stake in EGPE Solar to Masdar, the leading clean energy company in the United Arab Emirates.
This entity holds Endesa's operating photovoltaic (PV) assets in Spain, with a total installed capacity of around 2 GW.
Masdar paid around 850 million euros for the acquisition of 49.99% of EGPE Solar's share capital. The 100% enterprise value of EGPE Solar is approximately E1.7bn.
The transaction is part of a long-term partnership with Masdar, which also includes 15-year power purchase agreements (PPAs) under which Endesa, through a subsidiary, is expected to acquire 100% of the energy generated by the photovoltaic assets.
The transaction has reduced the Enel Group's consolidated net debt by around 850 million euros in 2024. Enel retains control and fully consolidates EGPE Solar in its accounts.
Copyright (c) 2024 CercleFinance.com. All rights reserved.