Chat with us, powered by LiveChat Enel is set to divest 150 megawatts of solar and geothermal assets in the United States. - Infra-Be

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    Enel is set to divest 150 megawatts of solar and geothermal assets in the United States.

    Enel Green Power North America (EGPNA) has forged an agreement with ORMAT Technologies (ORMAT) to sell approximately 150 megawatts of operational geothermal and solar facilities in the United States.


    The total consideration for this renewable asset portfolio amounts to $271 million (roughly €255 million), with adjustments typical for such transactions.


    Enel has emphasized that this transaction aligns with its strategic goals, utilizing asset rotation to enhance returns on capital while simultaneously streamlining the group’s structure.


    The overall deal is expected to have a positive impact of €255 million on the Enel Group’s consolidated net debt and a negative impact of about €35 million on the reported EBITDA. Importantly, Enel has clarified that this will not affect the group’s regular economic results.


    This sale encompasses Enel’s complete geothermal portfolio in the United States and several small solar facilities. It’s worth noting that this agreement does not change the profile of the Enel Group’s 8-gigawatt Renewable Consolidated Capacity in the USA.


    The finalization of the sale, anticipated in the coming months, is subject to customary conditions precedent, including approval from relevant antitrust authorities.


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