EGP sells 49.99% stake in EGPE Solar 2
Masdar acquired 49.99% for €184 million of four Spanish PV plants totaling 446 MW; Enel retains control, fully consolidates the vehicle, and a 15-year PPA is envisaged.
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Renewable energy platform
enelgreenpower.comLast updated
In short: EGP expanded its international renewable portfolio through strategic acquisitions in the U.S. and Spain while divesting assets in India and Greece.
Masdar acquired 49.99% for €184 million of four Spanish PV plants totaling 446 MW; Enel retains control, fully consolidates the vehicle, and a 15-year PPA is envisaged.
The swap transaction with Gulf Pacific Power is expected to boost annual EBITDA by $50 million.
The transaction gives Endesa full control, with an enterprise value of €60 million and expected annual EBITDA increase of €10 million.
The swap with GPP shifts ownership stakes, requires about $50m cash, and yields ~ $50m annual EBITDA benefit; closing awaits FERC and Tax Equity approvals.
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