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Enel Sells Argentina Plants to Central Puerto for $102 Million – Bloomberg

  • Move is part of Enel’s decision to focus on six markets
  • Company also seeks to sell assets in Peru and Romania
Francesco Starace, chief executive officer and president of Enel Group, during a panel session on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 19, 2023.
Francesco Starace, chief executive officer and president of Enel Group, during a panel session on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 19, 2023. (Stefan Wermuth/Bloomberg)

Scott Squires, Bloomberg News

EnergiesNet.com 02 20 2023

Enel Americas, a unit of Italy’s largest utility Enel SpA, sold its stake in two Argentina thermal generation plants to power generator and distributor Central Puerto, according to company filings.

Enel Argentina, owned by Santiago-based Enel Americas, sold nearly 76% of its stake in thermal power generator Enel Generacion Costanera to a unit of Central Puerto for $48 million, according to a filing. The same Central Puerto Unit, Proener, said it reached an agreement to pay $54 million to Enel Americas and Enel Argentina for stakes in Inversora Dock Sud and Central Dock Sud.

The move is the latest step in Enel’s broader plans to sell assets around the world to reduce its debt load after an acquisition spree to boost renewable energy production. The company said in November it was looking to sell its Argentina, Peru and Romania assets. 

Read More: Enel to Sell Assets Worth €21 Billion in Bid to Reduce Debt

“These are operations that are in line with our decarbonization strategy, with the goal of reaching zero emissions by 2040,” Maurizio Bezzeccheri, general manager of Enel Americas, said in a statement.

Enel’s CEO added last year that it expects the sale of its Peru assets to be completed in 2023.

Enel Americas operates in Argentina through the brand Edesur. In addition to the assets sold Friday, it also operates the hydroelectric power plant Enel Generacion El Chocón and distributes power.

The sale of the Dock Sud assets is subject to certain conditions and is expected to close in the first quarter, according to a statement. 

–With assistance from Valentina Fuentes.

bloomberg.com 02 28 2023

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