Enel sells Chilean solar portfolio to Sonnedix for $556m
Italian renewables giant last year had announced an asset sell-off in non-core countries, but Chile was not among those
Italian renewable giant Enel has closed the sale of a 416MW operating PV portfolio in Chile to renewables producer Sonnedix for $556m.
The company said the sale is expected to generate a positive impact on Enel Group net debt of around €525m, and on reported net income for 2023 of about €50m ($52.9m).
The transaction is in line with the group’s strategic priorities and contributes to the objective of constantly improving the returns on capital employed in support of future development plans, Enel said.
To the contrary, Enel had said in the 2023-25 period it would focus its investments on six core countries that would offer the best prospects for returns and the most supportive policies – Italy, Spain, the US, Brazil, Chile and Colombia.
The solar PV portfolio sold is located in the regions of Atacama and Antofagasta, in northern Chile, and composed of four plants: Diego de Almagro (36MW, operational since 2014), Carrera Pinto (97 MW, operational since 2016), Pampa Solar Norte (79MW, operational since 2016) and Domeyko (204MW, operational since 2022), which jointly generate approximately 1 TWh/year of net production.
Sonnedix is a global renewable energy producer with an overall capacity in operation of more than 9GW.
Enel is one of the world’s largest producers of wind and solar power.
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