Enel Russia Signs Sale-Purchase Agreement With Kuzbassenergo
20 Juin 2019 - 7:14PM
Dow Jones News
By Anthony Shevlin
Enel SpA (ENEL.MI) said Thursday that its Russian subsidiary
signed a sale-purchase agreement with Kuzbassenergo (KZBE.RS) for
the disposal of the Reftinskaya coal-fired power plant.
The Italian power company said the consideration for the plan is
an initial payment of 286 million euros ($320.6 million) plus a
further EUR41 million over the next five years, subject to
conditions.
With an installed capacity of 3,800 megawatts, Reftinskaya is
the biggest coal-fired power plant in Russia. The sale is in line
with Enel's strategic shift toward a more sustainable model based
on renewables, the company previously said.
The expected timeline for the transfer of the plant to
Kuzbassenergo is 18 months from the entry into effect of the
sale-purchase agreement, which is pending Russia's Federal
Antimonopoly Service approval.
Enel Russia must also agree to the terms and conditions at a
shareholder meeting on July 22.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com;
@anthony_shevlin
(END) Dow Jones Newswires
June 20, 2019 12:59 ET (16:59 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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