Enel finalises USD-1.3bn sale of stakes in Peruvian generation ops

Enel Peru SAC has closed the previously announced sale of all the equity stakes held in two Peruvian power generation companies to Actis-controlled Niagara Energy SAC after obtaining clearance from the relevant antitrust authority.

Specifically, the majority-owned unit of Chile-listed Enel Americas SA has divested its 86.95% interest in Enel Generacion Peru SAA along with 100% of Compania Energetica Veracruz SAC for a total of USD 1.3 billion (EUR 1.2bn), equivalent to an enterprise value of about USD 2.1 billion on a 100% basis. The stake in Enel Generacion Peru, in particular, was sold within the framework of a full takeover bid launched by Niagara Energy.

By selling this interest, the group has reduced its consolidated net debt by about EUR 1.2 billion in 2024, adding to some EUR 400 million recognised in 2023 mainly because of reclassification as “held for sale” of the assets and related liabilities of Peruvian generation activities, Enel said in a statement.

The transaction has had a positive impact of EUR 7 million on reported group net income in 2024, according to the announcement.

(USD 1.0 = EUR 0.928)

Choose your newsletter by Renewables Now. Join for free!