“In said presentation, among other aspects, he announced as part of his energy transition process, the intention to divest certain assets owned by him, among which he made reference to Argentina”specified the attorney of Edesur, Mónica Diskin.
Enel announced that it will put all of its assets in Argentina up for sale, which include the Edesur electricity distributor, the Costanera and Dock Sud thermal power plants, the El Chocón hydroelectric concession, transmission lines and electric power transportation.
The advance was made at its Capital Markets Day, which it held yesterday in the city of Milan, where it announced that it will launch an asset sale plan for 21,000 million euros, Exiting markets such as Argentina, Peru and Romania, to reduce its debt, including in these divestments the portfolio of its gas business in Spainwhere it is the main shareholder of Endesa with a 70% stake.
Consequently, Enel will thus focus on six strategic countries, which are Italy, Spain, the United States, Brazil, Chile and Colombia.
The Italian group expects that most of this divestment plan will be completed by the end of 2023, thus focusing on those six markets.
With this divestment plan, Enel expects to achieve its goal of reducing its debt to around 52,000 million euros by the end of 2023, from the 69,000 million with which it closed last September.
Enel became the owner of Edesur when it acquired in 2008 the majority shareholding of the Spanish Endesa, which owned the Argentine electricity distributor, and also inherited the Costanera gas-fired plants and Dock Sud, and the El Chocón hydroelectric plant, in the provinces of Neuquén and Río Negro, whose concession expires next year and should return to the hands of the State, which must define its future management.
From the Endesa acquisition, Enel also became the owner of the CTM and TESA transmission lines, which connect the electric power systems between Brazil and northeastern Argentina; and Yacylec, a company that transports energy from the Yacyretá binational hydroelectric dam.
Source: Ambito
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