Following this operation, EGPE raises its interest in SEA to 63.34% from the previous 46.67%.
Todays transaction is to be encompassed within Enel Green Power Españas portfolio streamlining strategy.
Rome/Madrid, April 8th, 2011 Enel Green Power España has acquired from DEPSA (Desarrollos Eólicos Promoción SA), an EDP Renovaveis subsidiary, the 16.67% stake held by DEPSA in Sociedad Eólica de Andalucía, S.A. (SEA), owner of 2 wind farms with a total capacity of 74 MW and an annual production of 256,000 MWh. Both plants are located in the province of Cadiz.
Todays transaction raises Enel Green Power Españas interest in SEA to 63.34% from the previous 46.67%. As a result, Enel Green Power España becomes SEAs majority shareholder, therefore fully consolidating in its accounts the 74 MW held by SEA. This transaction is in line with the companys strategy to streamline its business portfolio by reorganizing its assets and shareholdings in various projects.
Sociedad Eólica de Andalucía was set up in 1993 and has 2 wind farms in the province of Cadiz, namely Planta Eólica del Sur with 42 MW and Energía Eólica del Estrecho with 32 MW. The remainder of the shares in SEA are held by Sociedad para la Promoción y Reconversión Económica de Andalucía (SOPREA) with 23.33%, as well as IDAE (Instituto para la Diversificación y Ahorro de la Energía) and Elecnor holding 6.67% each.
These two wind farms happen to be the very first commercial wind farms ever constructed in Spain and the first ones that implemented a capacity increase program.
With this transaction, Enel Green Power España strengthens its presence in Andalusia where it already has seven wind farms, two biomass plants, one biogas plant, and two PV solar plants in the provinces of Seville and Cadiz for a total capacity of 105 MW, as well as a portfolio of over 1,000 MW in wind farm and thermosolar power plant projects in various stages of development.
Enel Green Power is the Enel Group company dedicated to the development and management of power generation from renewable resources around the world, with a presence in Europe, North America and Latin America. It is an industry leader worldwide thanks to some 22 billion kilowatt hours generated from water, sun, wind and geothermal, meeting the energy needs of some 8 million households and avoiding 16 million tonnes of carbon dioxide emissions each year. The company has an installed capacity of more than 6,100 MW, with over 620 facilities around the world and a generation mix that includes wind, solar, hydro, geothermal and biomass.