Enel Agrees to Sell Geothermal and Solar Portfolio in US to Ormat

Enel S.p.A., acting through its fully-owned subsidiary Enel Green Power North America Inc. , has signed an agreement with Ormat Technologies Inc., for the sale of a renewable asset portfolio in the US for a total consideration of $271 million, subject to adjustments customary for these kinds of transactions. The portfolio consists of approximately 150 MW of operational geothermal and solar facilities.
Enel Agrees to Sell Geothermal and Solar Portfolio in US to Ormat
Courtesy of Ormat

The deal is in line with Enel’s Strategic Priorities, leveraging on asset rotation to foster returns on capital employed in support of future development plans while achieving a progressive simplification of the Group’s structure.

The overall transaction is expected to generate a positive effect on Enel Group´s consolidated net debt of about 255 million euros and a negative impact of around 35 million euros on the Group's reported EBITDA while bearing no impact on Group ordinary economic results.

The transaction involves Enel’s entire geothermal portfolio in the United States plus several small solar plants.

The announced agreement does not alter the profile of the Enel Group’s 8 GW Renewable Consolidated Capacity in the US, confirming Enel Green Power North Americ as one of the largest renewable power producers in the region through its core wind, solar and storage portfolio.

The closing of the sale, which is expected in the forthcoming months, is subject to certain conditions precedent customary for these kinds of transactions, including the clearance from competent Antitrust authorities.


Baterías con premio en la gran feria europea del almacenamiento de energía
El jurado de la feria ees (la gran feria europea de las baterías y los sistemas acumuladores de energía) ya ha seleccionado los productos y soluciones innovadoras que aspiran, como finalistas, al gran premio ees 2021. Independientemente de cuál o cuáles sean las candidaturas ganadoras, la sola inclusión en este exquisito grupo VIP constituye todo un éxito para las empresas. A continuación, los diez finalistas 2021 de los ees Award (ees es una de las cuatro ferias que integran el gran evento anual europeo del sector de la energía, The smarter E).