Enel to sell US geothermal and solar portfolio to ORMAT
Enel S.p.A., acting through its wholly-owned subsidiary Enel Green Power North America Inc. (EGPNA), has closed an agreement with ORMAT Technologies Inc. on the sale of a renewable asset portfolio in the US for a total consideration of US$271 million, equivalent to approximately €250 million euros, 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 fulfilment of certain conditions precedent, is expected to generate a positive effect on the Enel Group´s consolidated net debt of about €250 million and a negative impact of around €30 million on group reported net income while bearing no impact on group ordinary economic results.
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Read the article online at: https://www.energyglobal.com/solar/05012024/enel-to-sell-us-geothermal-and-solar-portfolio-to-ormat/
