MADRID, 13 Jul. (EUROPA PRESS) -

Enel, acting through Enel Green Power (EGP), has signed an agreement with Inpex Corporation for the sale of 50% of the two entities that own all its activities in Australia, Enel Green Power Australia Pty and Enel Green Power Australia Trust, jointly called Enel Green Power Australia (EGPA), for a total amount of approximately €400 million of enterprise value, including €140 million in debt.

Following the closing of the transaction, EGP and Inpex are expected to jointly control EGPA, overseeing the company's current renewable generation portfolio and continuing the development of its portfolio of projects, with the aim of increasing EGPA's installed capacity, thereby which ensures that it will continue to drive Australia's ongoing energy transition, accelerating its contribution to achieving the country's net-zero emissions target.

The transaction is expected to generate a positive impact of around 87 million euros on the group's ordinary gross operating result (Ebitda) in 2023. In addition, the operation is expected to generate a positive effect on the consolidated net debt of approximately 145 million euros associated with the sale of 50% of the stake by EGP to be accounted for in 2023.

The deal with the Japanese company, which is subject to certain customary conditions precedent, including clearance by the Australian Foreign Investment Review Board and relevant antitrust authorities, is in line with Enel's current strategic plan, which calls for the implementation of partnerships in certain businesses and geographies to enhance value creation.

EGPA currently operates 3 plants with a total of 310 MW of gross installed capacity powered by solar energy, as well as a 76 MW wind project under construction and a 93 MW solar project under construction. In addition, EGPA is also developing a significant portfolio of wind, solar, storage and hybrid projects across Australia, as well as expanding its activities in innovative solutions within its retail and commercial operations.