Enel perfected the trade of its entire stake in PJSC Enel Russia

Enel perfected the trade of its entire stake in PJSC Enel Russia

EnelS.p.A.( “ Enel ”) announces that, following the press release of June 16th, 2022, moment it perfected the trade of its entire stake in PJSC Enel Russia, equal to56.43 of the ultimate’s share capital, to PJSC Lukoil and the Closed Combined Mutual Investment Fund “ Gazprombank- Frezia ”, for a total consideration of about 137 million euros, following the fulfillment of all the conditions precedent set out in the two separate contracts entered into with them, including blessing of the sale by the President of the Russian Federation in agreement with paragraph 5 of Decreeno. 520 of August 5th, 2022.

As result of the sale, Enel has disposed of all its Russian power generation means, which included roughly5.6 GW of conventional capacity and around 300 MW of wind capacity at different stages of development. The sale is harmonious with the Group’s strategic end to concentrate its conditioning substantially in countries where an intertwined position along the value chain can drive growth and enhance value creation from the openings offered by the energy transition.

The overall sale generated a positive effect on the Group’s consolidated net debt of about 610 million euros and a negative impact on reported Group net income of around1.3 billion euros, substantially reflecting the release of a currency restatement reserve of around1.0 billion euros as of September 30th, 2022. This account effect won’t have any impact on ordinary profitable results.

Enel, which celebrates its 60th anniversary this time, is a transnational power company and a commanding intertwined player in the global power and renewables requests.

At global position, it’s the largest renewable private player, the foremost network driver by number of end druggies and the biggest retail driver by client base. The Group is the worldwide demand response leader and the largest European mileage by ordinary EBITDA( 1).

Enel is present in 30 countries worldwide, producing energy with around 92 GW of total capacity.

Enel Grids, the Group’s global business line devoted to the operation of the electricity distribution service worldwide, delivers electricity through a network of around2.3 million kilometers to further than 75 million end druggies. The Group brings energy to around 70 million homes and businesses. Enel’s renewables arm Enel Green Power has a total capacity of around 55 GW and a generation blend that includes wind, solar, geothermal, and hydroelectric power, as well as energy storehouse installations, installed in Europe, the Americas, Africa, Asia, and Oceania. Enel X Global Retail, Enel’s global business line active in the areas of energy force and effectiveness, has a total capacity of around7.9 GW of demand response managed encyclopedically and has installed 62 MW of before- the- cadence storehouse capacity. In addition, Enel X Way is the Group’s new company completely devoted to electric mobility, managing further than,000 public and private EV charging points worldwide, both directly and through interoperability agreements.

Source link: https://www.enel.com/

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