Enel finalizes agreement to sell a geothermal and solar portfolio in the United States to ORMAT

Enel S.p.A. (“Enel”), acting through its wholly-owned subsidiary Enel Green Power North America (“EGPNA”), has closed an agreement with ORMAT Technologies (“ORMAT”) on the sale of a renewable asset portfolio in the United States for a total consideration of 271 million US dollars, equivalent to approximately 250 million euros[1], subject to customary transactional adjustments. The assets sold include EGPNA’s entire geothermal portfolio as well as a number of small solar plants, with a total capacity of about 150 MW of operating plants.

The overall transaction, which was closed following the fulfillment of certain conditions precedent, is expected to generate a positive effect on the Enel consolidated net debt of about 250 million euros[1] and a negative impact of around 30 million euros[1] on Group reported net income while bearing no impact on Group ordinary economic results.

The transaction does not alter the over 8 GW profile of the Enel Group’s renewable consolidated capacity in the United States, confirming Enel Green Power North America as one of the largest renewable power producers in the region[2] through its core technology portfolio.