Enel announces the sale of Hydro Dolomiti Enel. The Italian electricity giant has reached an agreement with the Luxembourg company Fedaia Holdings, controlled by the infrastructure fund Macquarie European Infrastructure Fund 4, for the sale of the entire investment held by Enel Produzione in HDE, equal to 49% of the share capital, for a consideration of approximately 335 million euro.
HDE manages a fleet of hydroelectric plants, mainly located in the territory of Province of Trento, with a total installed capacity of approximately 1.280 MW. In particular, the park is made up of 26 large derivation plants, for a total of 1.277,3 MW, and 2 small derivation plants, for a total of 2,4 MW. The production achieved by HDE in 2014 amounted to 4,2 TWh, and in the same year the company recorded an EBITDA of 247 million euro.
The completion of the transaction is conditional on the waiver or failure to exercise the pre-emption right by Dolomiti Energia (which holds the remaining 51% of HDE) and on the clearance from the European Union Antitrust Authority. The transaction will make it possible to reduce the consolidated net financial debt of the Enel Group.
