Rome, December 10th 2010 - Enel Green Power SpA (EGP) and the European Investment Bank (EIB) signed an agreement whereby EIB will grant EGP a loan of 440 million euros (that may be increased by further agreement of the parties up to 600 million euros) to help finance EGPs plan to expand its operations in Italy. EGP is the Enel Group company dedicated to the management and development of renewable energy.
The 20-year loan carries an interest rate well below the market benchmarks since it is also fully secured by Enel SpA.
More specifically, the EIB loan will help finance the installation of 840 MW in new renewables generation capacity by wind and photovoltaic plants. EGP plans to invest a total of around 1,300 million euros in this project.
For EGP this operation is part of the growth strategy outlined in its 2010-2014 business plan, which calls for significantly expanding installed capacity from its current level of about 5.9 GW to 9.2 GW, with a capex of 5.2 billion euros. EGP plans to pursue balanced growth in all of the technologies it currently uses (hydroelectric, wind, geothermal, solar and biomass) and the EIB loan will help make the financial structure of these wind and photovoltaic projects more competitive.
About Enel Green Power
Enel Green Power is a publicly listed company and part of the Enel Group. It is dedicated to renewable energy with a presence in Europe, North America and Latin America. It is one of the global leaders in its industry with a total installed capacity of around 5,900 MW and more than 600 plants in operation in 16 countries. The company and its subsidiaries produced 21 billion kWh of energy from water, sun, wind, geothermal and biomass in 2009.
For the dissemination to the public and the storage of regulated information made available to the public, Enel S.p.A. has decided to use respectively the platforms “eMarket SDIR” and “eMarket Storage”, both available at the address www.emarketstorage.com and managed by Spafid Connect S.p.A. with registered office in Milan, at Foro Buonaparte, 10. The aforementioned services are authorized by Consob (resolution No.19878 of February 15th, 2017, related to the mechanism for the dissemination to the public of regulated information “eMarket SDIR” and resolution No. 19879 of February 15th, 2017, related to the mechanism for the central storage of regulated information “eMarket Storage”).
From May 19th 2014 to June 30th 2015, Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated “1Info”, available at the address www.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by Consob with resolution No. 18852 of April 9th, 2014.