will sell its generation assets to Niagara Energy, a Peruvian company controlled by the investment fund Actis that will acquire the stakes in Enel Generación Perú and Compañía Energética Veracruz for approximately 1.3 billion euros.

“The completion of the sale, expected for the second quarter of 2024, is subject to some usual conditions for this type of transaction, including approval by the competent competition authority in Peru,” The group indicated today, on the sidelines of the presentation of its strategic plan for 2024-2026.

The agreement provides for the transfer of all the shares that the Italian company – through the subsidiaries Enel Américas and Enel Perú – has in the companies Enel Generation Peru (equivalent to approximately 66.50% and 20% of the share capital) and Compañía Energética Veracruz (100% of the share capital).

The operation – the group states – will reduce the group’s consolidated net debt by approximately 1,600 million euros.

Enel already announced last year its exit from the markets of Peru and Argentina, in Latin America, and Romania in Europe, to rationalize its structure and focus its activity on countries with “greater growth potential” such as Italy, Spain, the United States, Brazil, Chile and Colombia.

In Peru, the company had been operating since 2007 both in the distribution and supply sector, with nearly 1.6 million customers, and in the production sector, with more than 2.4 GW of installed capacity, mainly from renewable sources.

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Thus, in updating its strategic plan, Enel announced that it will concentrate its investment, of around 36,000 million euros (35,800) in markets where the political context is “stable” and with a regulatory framework that allows it to generate profits.

Likewise, it indicated that it plans to sell all generation, supply and energy assets in Peru, after having closed asset sale operations in Argentina, Romania, Chile and Peru, with an impact on its debt of 2.8 billion.

The group expects the planned full asset sale to have a positive impact on its debt of around €11.5 billion.



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