Italy's Enel finalises sale of several U.S. green assets to Ormat
04/01/2024 14:09
MILAN, Jan 4 (Reuters) - Enel ENEI.MI finalised the
sale of a renewable asset portfolio in the United States to
Ormat Technologies ORA.N for $271 million, Italy's biggest
utility said on Thursday.
The deal, announced last year, is part of the group's
efforts to trim its debt and streamline its presence abroad.
Under the agreement, Enel is divesting its entire geothermal
portfolio in the United States along with a number of small
solar plants, for a total capacity of 150 megawatts (MW).
The move is expected to have a positive effect worth about
250 million euros ($274 million) on Enel's consolidated net debt
but negatively impact, by around 30 million euros, the group's
reported net income, the group said in a statement.
It will not have any impact on the utility's ordinary
economic results, it added.
Enel's renewable consolidated capacity after the deal
amounts to around 9.7 gigawatts (GW) in North America.
Presenting the updated strategy for the group, Enel's new
CEO Flavio Cattaneo said in November that the renewable
developer would drop a plan to develop an extensive network of
electric car charging points while it would press on with the
idea of building a solar panel factory in the United States.
($1 = 0.9135 euro)
(Reporting by Francesca Landini)
((francesca.landini@thomsonreuters.com; +39 02 66129437;
Reuters Messaging: reutersitaly.thomsonreuters@reuters.net))