(News Bulletin 247) – Enel, acting through its subsidiary Enel Green Power (EGP), announces that it has signed an agreement with INPEX Corporation (INPEX), to sell it 50% of EGPA (Enel Green Power Australia).
Previously 100% owned by EGP, EGPA owns all the activities of the Enel group in Australia. The financial consideration is based on an enterprise value estimated at 400 million euros (100% basis), including around 140 million euros in debt.
Enel specifies that this operation is in line with its strategic plan which aims to develop partnerships in certain companies and geographical areas to improve value creation.
Upon closing of the transaction, EGP and INPEX are therefore expected to jointly control EGPA, oversee the company’s current renewable energy generation portfolio and continue to develop its portfolio of projects.
This operation therefore ensures that EGPA will continue to lead the energy transition underway in Australia, accelerating its contribution to achieving the country’s net zero objective, Enel points out.
According to Enel, the transaction is expected to generate a positive impact of around €87 million on the Group’s current and reported EBITDA in 2023.
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