Enel has announced that its subsidiary Enel Russia PJSC has set July 22 for the meeting of the extraordinary shareholders' meeting for the green light for the sale of the Reftinskaya GRES coal-fired plant.
The sale agreement will be signed by Enel Russia, as seller, and JSC "Kuzbassenergo", a subsidiary of Siberian Generating Company, as buyer, specifies a note from the Italian group.
The sale price will not be less than 21 billion rubles (equivalent to approximately 286 million euros at the current exchange rate), net of VAT and subject to possible adjustments up to 5%; a possible addition of up to a maximum of 3 billion rubles (equivalent to approximately 41 million euros) is envisaged, payable within five years of the completion of the transaction, subject to the occurrence of certain conditions, concludes the press release.
The group underlines that the sale of Reftinskaya GRES "is perfectly in line with the Enel Group's global growth strategy, focused on the pursuit of a more sustainable business model". Enel will continue its investments in Russia focusing on renewables, advanced energy services and the modernization of thermoelectric plants currently in operation.
The time horizon envisaged for the transfer of the ownership of Reftinskaya GRES to JSC “Kuzbassenergo” is no later than 18 months from the time the purchase and sale agreement becomes effective. The deal also needs to be approved by the Russian Federal Competition Authority.
With a capacity of 3.800 MW, Reftinskaya GRES is Russia's largest coal-fired power plant.
