Enel Green Power to sells 60% stake in Spanish subsidiary to Endesa

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Enel Green Power to sells 60% stake in Spanish subsidiary to Endesa

Enel Green Power International (EGPI) has agreed to sell a 60% ownership in Enel Green Power España (EGPE) to Endesa Generación.

According to sources, the transaction could be closed for a total consideration of €1.2 billion (US$1.33 billion). Once the deal is closed Endesa will hold the 100% stake in EGPE.

EGPE generates and promotes renewable energies in Spain and Portugal. The company was incorporated in 1996 and is based in Madrid. It currently has 93 wind, hydraulic, solar and biomass power projects which have a total combined capacity of 1.7GW. of which 95% are generated by wind farms. EGPE's portfolio has a total production capacity of 3,900 GWh.

In late 2015 we reported that EGPE closed the sale of the entire share capital of Finerge Gestão de Projectos Energéticos, S.A., a wholly-owned EGPE subsidiary operating wind farms in Portugal for a net installed capacity of 642 MW, equivalent to a gross capacity of 863 MW, to Portuguese company First State Wind Energy Investments.

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