ROME (dpa-AFX) - Electricity and gas operator Enel SpA (ENLAY) said on Thursday that its subsidiary Enel Green Power S.p.A. has agreed to sell 50 percent of its two entities namely Enel Green Power Australia Pty Ltd and Enel Green Power Australia Trust to Inpex Corporation (IPXHY) for around 400 million euros.
At the closing of the transaction, both Enel Green Power S.p.A. and INPEX are expected to jointly control Enel Green Power Australia Pty Ltd and Enel Green Power Australia Trust, collectively known as 'Enel Green Power Australia', or 'EGPA'.
As per Enel, the deal will generate a positive impact of around 87 million euros on the company's ordinary and reported EBITDA and will have a favorable effect of around 145 million euros on the net debt of the company.
'EGPA currently operates 3 plants totaling 310 MW of installed gross capacity powered by solar as well as one 76 MW wind project under construction and one 93 MW solar project in execution.', Enel said in a statement.
On Wednesday, shares of ENEL closed at $6.87 up 2.69% or $0.18 euros and shares of Inpex closed at $12.08 up 3.51% or $0.41.
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