Neutral newspaper headlines:
Masdar acquire a minority stake in the capital of EGPE Solar from Endesa.
Endesa reduces its net consolidated debt by 850 million euros through the sale of solar assets.
Enel’s strategy of alliances continues with the agreement between Endesa and Masdar.
New perspectives on the partnership between Endesa and Masdar in the solar energy sector.
High-Quality Solar Energy Investment By Masdar and Endesa
Masdar has recently acquired a minority stake in the capital of EGPE Solar from Endesa, valuing the company at around 1.7 billion euros. This transaction, completed on July 25th, involved Masdar paying 850 million euros for the stake, with adjustments expected to follow.
Deleveraging Strategy by Endesa
Endesa has successfully reduced its net consolidated debt by 850 million euros through the sale of solar assets. This move will have a positive impact on the company’s financial position by 2024. Despite the sale, Endesa will retain control of EGPE Solar and will continue its comprehensive consolidation.
Long-Term Partnership and Financial Flexibility
The partnership between Endesa and Masdar aligns with Enel’s strategy of alliances, aimed at enhancing financial flexibility. This agreement also includes long-term power purchase agreements (PPA) for 15 years, ensuring Endesa’s access to energy generated by the solar assets. Additionally, there are plans for potential hybridization of the energy storage system, offering up to 0.5 GW of additional capacity.