- Ownership of the coal-fired plant transferred as of today
- The transaction is in line with Enel Group’s strategy of asset portfolio optimisation
Rome, October 1st, 2019 – Enel S.p.A. (”Enel”), following its June 6th, June 20th and July 23rd press releases announces that, as of today, the ownership of Reftinskaya GRES coal-fired power plant has been transferred from its subsidiary Enel Russia PJSC (“Enel Russia”) to JSC Kuzbassenergo (“Kuzbassenergo”), owned by Siberian Generating Company.
The transfer was completed today following the federal registration of ownership transfer for the immovable property of Reftinskaya GRES, as set forth in the sale-purchase agreement between Enel Russia and Kuzbassenergo, entered into effect once Russia’s Federal Antimonopoly Service approved the transaction on July 31st, 2019.
With respect to the overall consideration of the transaction, amounting to 20.7 billion roubles following price adjustments (equivalent to around 292 million euros at current exchange rates), Enel Russia has so far received the first two installments for a total of 16.7 billion roubles (around 236 million euros at current exchange rates).
The remaining tranche of the consideration will be paid when Kuzbassenergo obtains all the licenses and permits necessary to operate the plant and in any case within one year from today. Until that time, Enel Russia will continue to operate Reftinskaya GRES under a lease agreement approved by Russia’s Federal Antimonopoly Service.
A contingent component of up to 3 billion roubles (about 42 million euros at current exchange rates) is also envisaged, to be paid within five years from today subject to specific conditions.
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.