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Enel Green Power has signed an agreement with Macquarie Asset Management for the sale of 50% of Enel Green Power Hellas (EGPH), EGP’s fully-owned renewable subsidiary in Greece.
EGP has sold the stake for a total consideration of approximately € 345 million, equal to an implied full enterprise value of approximately € 980 million.
Upon the transaction’s closing, EGP and Macquarie Asset Management are going to enter into a shareholder agreement which envisages the joint control of EGPH in order to co-manage the company’s current renewable generation portfolio alongside continuing to develop its project pipeline, further increasing its installed capacity. EGPH operates 59 plants totalling 482 MW of installed capacity powered by wind, solar and hydro as well as six solar projects under construction for an overall capacity of 84 MW. EGPH is also developing a portfolio of wind and solar projects, alongside expanding its activities in solutions such as storage and hybrid projects.