(Adds details to paragraphs 8-9) by Francesca Landini
Enel ENEI.MI has completed the sale of a portfolio of renewable assets in the United States to Ormat Technologies ORA.N for $271 million, Italy’s largest power company said on Thursday.
The operation, announced last year, is part of the group’s efforts to reduce its debt and rationalize its presence abroad.
As part of the deal, Enel is divesting its entire geothermal portfolio in the United States as well as a number of small solar plants, with a total capacity of 150 megawatts (MW).
This transaction is expected to have a positive effect of approximately 250 million euros ($274 million) on Enel’s consolidated net debt, but a negative impact of approximately 30 million euros on the group’s reported net income. , indicated the latter in a press release.
There will be no impact on the company’s ordinary economic results, he added.
Enel’s consolidated renewable capacity after the transaction amounts to approximately 9.7 gigawatts (GW) in North America.
While presenting the group’s updated strategy, new CEO Flavio Cattaneo said in November that Enel would abandon a plan to develop a vast network of charging stations for electric cars, while pursuing the idea of building a solar panel factory in the United States in collaboration with an American partner.
At the time, Mr. Cattaneo said the group was evaluating the possibility of a partnership that would allow the possible new solar panel factory to benefit from the Biden administration’s support for energy transition projects.
Under its previous chief executive, Enel said it would set up a solar cell and panel factory in Oklahoma, near Tulsa, to produce 3 gigawatts of solar products per year, with the first panels rolling off the line by the end of 2024.
(1 $ = 0,9135 euro)
2024-01-04 15:42:15
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