Enel Green Power enters German renewable market with purchase

• 9 years ago (2016-01-13)

Europe 1108 Renewables 791

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Francesco Venturini, Enel Green CEO, said: "This acquisition is very significant because it opens the door for Enel Green Power to a major, stable renewable energy market such as Germany."

The acquisition was carried out through the issue of new Erdwärme Oberland shares, which raised an outlay of €22 million ($23.8 million). The deal will also result in a 26 MW geothermal plant in southern Germany.

Enel Green Power is majority-owned (68 per cent) by Italy’s largest utility company, Enel.