Enel acquires 650 MW of US renewables from JV with GE

Image by Enel Green Power SpA (www.enelgreenpower.com)

March 15 (Renewables Now) - Italian utility Enel SpA (BIT:ENEL) has acquired 650 MW of US renewable energy assets from its equally-owned joint venture (JV) with GE Capital’s Energy Financial Services, the energy investing arm of General Electric Co (NYSE:GE).

The overall amount paid for the plants amounts to USD 256 million (EUR 226.2m), for an enterprise value equal to around USD 900 million, Enel said on Thursday.

The move was made through Enel Green Power North America Inc (EGPNA) and involved the full acquisition of geothermal, wind and solar power facilities from Enel Green Power North America Renewable Energy Partners LLC (EGPNA REP).

More details on the assets are available in the table below.

Name Type Capacity Location
Cove Fort Geothermal 25 MW Utah
Salt Wells 13.4 MW Nevada
Stillwater Geothermal-Solar 59.5 MW
Cimarron Bend Wind 400 MW Kansas
Lindahl 150 MW North Dakota
Sheldon Springs Solar 2.4 MW  Vermont

After this transaction, EGPNA REP’s remaining capacity amounts to 1.1 GW, including hydro and wind assets.

(USD 1 = EUR 0.88)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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