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Enel acquires 527 MW of hydro plants from ERG
- 2 years ago (2022-01-04)
- David Flin
Enel has announced that it has formally acquired the entire share capital of ERG Hydro from ERG Power Generation , paying around €1250 million. The sale and purchase agreement foresees a possible adjustment on the basis of ERG Hydro’s net working capital, net financial position, and the water reserves of certain basins included in the sale.
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The plants owned by ERG Hydro, located in the Umbria, Lazio, and Marche regions of Italy, have an installed capacity of 527 MW and an average annual production of around 1.5 TWh.
Enel said that the transaction strengthens its growth in renewables, giving it a further increase in its installed capacity in Italy. Enel now has approximately 13 GW of installed hydropower capacity across Italy, for a total renewable capacity, including geothermal, wind and PV, of around 14.5 GW in the country.