Enel, acting through its renewable subsidiary Enel Green Power North America, has acquired 100 percent of seven fully operational renewable plants totaling 650 MW from Enel Green Power North America Renewable Energy Partners, an equally owned joint venture between EGPNA and GE Capital’s Energy Financial Services, the energy investing arm of General Electric. Enel paid $256 million for an enterprise value equal to approximately $900 million.
Cove Fort Geothermal Plant (Enel)
The assets under the transaction, which are all managed and operated by EGPNA, are:
The 25 MW Cove Fort geothermal plant in Utah;
The Salt Wells geothermal plant in Nevada, of 13.4 MW;
The Stillwater geothermal-solar facility in Nevada, of 59.5 MW;
The 400 MW Cimarron Bend wind farm in Kansas;
The 150 MW Lindahl wind farm in North Dakota;
The 2.4 MW Sheldon Springs solar PV facility in Vermont.
Following the transaction, EGPNA REP’s capacity amounts to around 1.1 GW of hydro and wind assets, which will continue to be managed and operated by EGPNA.