Enel on the shields on the Stock Exchange. The group is in the spotlight (+.58% at 4,54 euros) on rumors of an interest by Poste Vita in the purchase of real estate assets and the announcement of the start of construction works on the Totana photovoltaic solar park in Spain by Enel Green Power Espana, Endesa's renewable energy company. Totana will be – with its 84,7 MW of power – the company's largest in Spain. When fully operational, the solar photovoltaic plant, made up of 248.000 photovoltaic panels, will be able to generate approximately 150 GWh per year, avoiding the annual emission of approximately 105.000 tons of CO2 into the atmosphere. Totana is the first of seven solar plants, with a total capacity of 339 MW, awarded to Enel Green Power España in the third renewable energy auction held by the Spanish government in July 2017.
“With the Totana solar photovoltaic plant, the Group confirms its commitment to further strengthening the Spanish generation mix, helping the country to get closer to its renewable energy targets” commented Antonio Cammisecra, head of Enel Green Power, the business line Enel's global initiative for renewables. Totana – continues the note from Enel Green Power – will be the first EGP construction site to adopt automation and robotic systems that will support the teams in the construction of some parts of the plant, with benefits in terms of safety and quality, such as greater precision and speed in carrying out the work.
Returning to the Enel properties for sale, there are around ten potential operators in the running, including – in addition to Poste Vita – some funds specializing in real estate such as Apollo, Blackstone and Hines and the German insurance giant Allianz. DeA Capital Real Estate Sgr, a subsidiary of DeA Capital, is also considering the dossier. According to the same rumours, the amount of the operation will be around 350 million, of which 220-250 million relating to the valorisation of the properties and 100-130 million to be reserved for the restructuring of the same.
In particular, special attention will be paid to the redevelopment of Enel's headquarters in Rome. Again according to the rumors, there could be the eventuality that Poste Vita and DeA Capital Real Estate Sgr would act in tandem, with the former which would meet the resources necessary for the operation and the latter which would create and manage a fund specifically created for real estate of Enel.
Around 10:20, Poste Italiane shares gained 1,1% to 7 euros, while DeA Capital shares rose by 0,6% to 1,29 euros.
