Enel Green Power sells 50% share in joint venture EF Solare Italia to F2i

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Enel, through its subsidiary Enel Green Power, has sold its 50% stake in the joint venture EF Solare Italia, held through EGP fully-owned company Marte S.r.l., for an equity consideration of EUR214 million (US$245 million) to its existing partner in the venture, F2i SGR.

EF Solare Italia, the first solar player in Italy, with a portfolio of around 410 MW, has an enterprise value of approximately EUR1.3 billion (US$1.5 billion), of which around EUR430 million (US$492 million) equity and approximately EUR900 million (US$1 billion) debt.

The sale of EGP’s stake in EFSI is part of the Enel Group’s active portfolio management strategy, which envisages the reallocation of financial resources to capture greater growth margins and potential for the Group. In Italy, Enel is reallocating resources to greenfield renewable projects rather than acquiring already operating assets.

The EUR214 million (US$245 million) consideration was paid in full at closing, generating a positive impact of the same amount on Group’s net financial debt. The price is subject to adjustments in line with standard practice for this type of transaction.

List of the country updates

Country updates

  • December 17, 2018

    Canadian Solar and TrailStone sign a 10-year PPA for 18 MW solar PV project in Italy

    Canadian Solar Inc. ("Canadian Solar") and TrailStone GmbH ("TrailStone") announced they entered into a 10-year power purchase agreement ("PPA") for the el...

    Read more
  • December 07, 2018

    Vestas wins Italian 36 MW auction

    Adding to the more than 1 GW of contracts signed by Vestas in Italy’s auction system, renewable energy projects developer Andali Energia S.r.l. has placed an order for the supply and installatio...

    Read more
  • November 06, 2018

    KR Energy to sell Italian hydro business

    K.R.Energy, an Italian renewable energy holding company, conducted preliminary agreement for its sale of  Idroelettrica Tosco Emiliana S.r.l. (ITE) to Energy Opportunity S.r.l. ITE owns the Lucc...

    Read more
  • October 11, 2018

    Terra Firma completes sale of RTR to F2i

    Terra Firma has completed the sale of RTR, the Italian solar energy platform, to F2i. RTR owns 134 Italian sites producing photovoltaic electricity, with a total installed capacity of 3...

    Read more
  • September 19, 2018

    TerniEnergia, REI III to split joint solar assets

    TerniEnergia and Renewable European Investment Italy 3 - (REI III) signed a deed of sale for the purchase and sale of companies owning photovoltaic plants in operation, held as joint ventures by the t...

    Read more

Share this update