ENEL GREEN POWER AND EIB SIGN AGREEMENT FOR FINANCING INVESTMENT IN RENEWABLES

Published on viernes, 10 diciembre 2010

Agreement signed for 440 million euros loan (that may be increased up to 600 million euros) to develop wind and photovoltaic projects in Italy.

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 EGP’s 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.

Economic | diciembre, 10 2010

1639027-2_PDF-1.pdf

PDF (0.06MB)DOWNLOAD

Enel S.p.A. provides for the dissemination to the public of regulated information by using SDIR NIS, managed by BIt Market Services, a London Stock Exchange Group's company, with registered office at Milan, Piazza degli Affari, 6. For the storage of regulated information made available to the public, Enel S.p.A. has adhered, as from July 1st, 2015 to the authorized mechanism denominated “NIS-Storage”, available at the address www.emarketstorage.com, managed by the above mentioned BIt Market Services S.p.A. and authorized by CONSOB with the resolution No. 19067 of November 19th, 2014. 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