Enel continues the reorganization of its assets and this time it involves the sale of renewable assets in the United States, concluded through its subsidiary Enel Green Power North America (EGPNA).
Egp has signed an agreement with Ormat Technologies Inc. for the sale of a portfolio consisting of approximately 150 megawatts of geothermal and solar systems in operation, for a total consideration of 271 million dollars (255 million euro) subject to price adjustment mechanisms.
Also included in the package is the Stillwater power plant, inaugurated by Renzi in 2016
Within this portfolio, the first and only hybrid geothermal and photovoltaic panel power plant built stands out, as reported by Il Sole24ore: it is the Stillwater, in Nevada, inaugurated in 2016 by the then prime minister Matteo Renzi and winner of awards for a project that combines and enhances the production capacities of the two renewable sources. The Stillwater plant has a production capacity of 33 megawatts.
The operation improves debt. No impact on ordinary results
The entire operation, says a press release from the company led by Flavio Cattaneo, “is in line with Enel's Strategic Priorities, as it leverages asset rotation to promote the profitability of invested capital to support future development plans and at the same time achieve a progressive simplification of the Group's structure". He continues, a positive effect on the consolidated net debt of the Enel Group of approximately 255 million euros is expected, and a negative impact of approximately 35 million euros on the Group's Reported EBITDA, while it will not have an impact on the ordinary economic results of the Group.
This operation does not change the profile of the Enel Group in the United States in terms of consolidated renewable capacity, equal to 8 GW, confirming Enel Green Power North America as one of the largest producers of renewable energy in the region thanks to its core portfolio of wind, solar and and storage.
