Enel sold three renewable assets in Brazil for $743 M

Brazil: Enel Green Power Brasil (EGP Brazil), subsidiary of Enel, recently sold three fully operational renewable plants totalling 540 MW to Chinese company CGN Energy.

According to a company statement, the overall consideration of the transaction paid to Enel upon closing is equal to the assets’ enterprise value and amounts to approximately $743 M (€660 M) at current exchange rates.

The three renewable assets are the solar plants Nova Olinda (29 MW), located in the north-eastern Brazilian state of Piauí, Lapa (158 MW), situated in the north-eastern Brazilian state of Bahia, as well as the 90 MW Cristalândia wind farm, also in Bahia.

Nova Olinda comprises of around 930,000 solar panels in an area of 690 hectares and can generate over 600 GWh per year.

Lapa is composed of two facilities, Bom Jesus a Lapa (80 MW) and Lapa (78 MW). The park, which is comprised of about 500,000 solar panels, is able to generate around 340 GWh per year.

Lastly, Cristalândia wind farm is capable of generating around 350 GWh per year.

Source: ESI Africa