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Enel close to sale of solar JV stake for 200 million euros: source

Enel close to sale of solar JV stake for 200 million euros: source

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MILAN: Italy’s biggest utility Enel (ENEI.MI) is “very close” to selling its stake in solar joint venture EF Solare to partner F2i for around 200 million euros ($229 million), a source familiar with the matter said on Thursday.

Enel and F2i currently own 50 percent each of EF Solare, Italy’s biggest solar power operator with more than 400 megawatts of installed capacity across 130 plants.

Enel and F2i declined to comment.

In July F2i, an infrastructure fund partly owned by state lender CDP, said it had expressed its intention to acquire Enel’s stake.

F2i, which also has investments in transport and broadband infrastructure, bought Terra Firma’s solar farms in Italy earlier this year for 1.3 billion euros to become Europe’s third largest solar player.

Enel, which controls Spain’s Endesa (ELE.MC), is one of the world’s biggest green energy producers. It is looking to free up resources in Italy to develop greenfield projects.

Source: in.reuters
Anand Gupta Editor - EQ Int'l Media Network

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