Enel Italia S.p.A. has finalized the sale of a 49% minority stake in Enel Libra Flexsys S.r.l. to Sosteneo Energy Transition 1 for 1.1 billion euros. Enel Libra Flexsys S.r.l. was established to implement and operate projects aimed at regulated capacity services, including:
- 23 Battery Energy Storage Systems (BESS) with a total capacity of 1.7 GW
- 3 renovation projects for Open Cycle Gas Turbine (OCGT) plants with a total capacity of 0.9 GW
This transaction aligns with Enel Group’s 2024-2026 Strategic Plan, which follows a “Partnership” business model to retain control of strategic assets while maximizing productivity and returns on invested capital.
The sale reduces Group consolidated net debt by approximately 1.1 billion euros without impacting economic results, as Enel continues to control and fully consolidate Enel Libra Flexsys S.r.l.
The closing of the sale follows the sale and purchase agreement announced on March 1, 2024. Sosteneo Energy Transition 1 paid approximately 1.1 billion euros for the acquisition of the 49% stake, with the consideration subject to an adjustment mechanism customary for such transactions. The enterprise value of Enel Libra Flexsys S.r.l., upon completion of the investment cycle, is estimated at around 2.5 billion euros.
Enel is a multinational power company and a leading player in the global power and renewables markets. It is the largest private renewable energy player globally, the foremost electricity distribution network player by number of grid customers served, and the largest retail operator by customer base. Enel operates in 29 countries, managing more than 89 GW of total capacity. Enel Grids manages electricity distribution worldwide, delivering through a network of 1.9 million kilometers to over 70 million end users. Enel Green Power has over 60 GW of capacity from wind, solar, geothermal, hydroelectric power, and energy storage facilities across Europe, the Americas, Africa, Asia, and Oceania. Enel X Global Retail provides energy products and services to over 60 million customers worldwide, managing 8.1 GW of flexibility services, over 3 million lighting points, and more than 26,200 public charging points for electric mobility.
