As a result of the transaction, Enel is divesting all of its power generation assets in Russia. This included about 5.6 GW of conventional capacity and about 300 MW of wind capacity in various stages of development.
The transaction is in line with the strategic objective of the Italian Group. It wants to concentrate its activities mainly in countries where there is an integrated position along the value chain. This will stimulate growth and enhance value creation from the opportunities offered by the energy transition.
The overall transaction generates a positive impact on the Group’s consolidated net debt of approximately 610 million euro. There was also a negative impact on the Group’s reported net income of approximately 1.3 billion euro. This mainly reflects the release of a currency translation reserve of approximately EUR 1.0 billion at September 30, 2022. This accounting effect will have no impact on the ordinary economic results.
ENEL, a complete company
The Italian company is celebrating its 60th anniversary this year. The multinational electricity company is a leading integrated player in the global electricity and renewable energy markets. Enel is present in 30 countries and produces energy with a total capacity of about 92 GW.
It is the world’s largest private player in the field of renewable energy. It is also the leading network operator by number of end users. The group is the largest European utility in terms of ordinary EBITDA.
