The Enel Group, through its subsidiary Enel Argentina, signed and closed this Friday the sale agreement to the energy company Central Puerto of its 75.7% participation in the thermal generation company Enel Generación Costanera.
At the same time, Enel signed the agreement on the sale to Central Puerto of its 41.2% stake in the thermal generation company Central Dock Sud, which -subject to certain conditions- is expected to close within the first quarter of 2023.
The total consideration for the sale of Enel’s stake in the two companies amounts to US$102 million, reported the Enel Group in a statement.
The Costanera thermal power plant, located in the city of Buenos Aires, it was built with a total capacity of 2,305 MW.
While, Dock Sud owns and operates a gas-fired power plant located in the Avellaneda district of Buenos Aires, with an installed capacity of 870 MW.
Central Puerto is the second largest power generator in Argentina, with almost 5 GW of installed capacity, and is listed on the Buenos Aires and New York Stock Exchange (NYSE).
Upon taking possession of Central Costanera, Central Puerto will add an installed capacity of 2,305 MW -to its already 4,809 MW- and thus will contribute a total of more than 7,100 MW to the Argentine Interconnection System (SADI).
After the closing of this transaction, Osvaldo Reca was appointed as the new president of Central Costanera, company that together with its assets will reach a participation of 17% of the total generation power of the country.
ENEL SIGNED THE SALE OF ITS GENERATION ASSETS
The Enel Group signed and closed today the sale of its stake in Enel Generación Costanera to Central Puerto, as well as the signing of the sale of the Group’s stake in Central Dock Sud to the same buyer. pic.twitter.com/QrNOk2eSSC
— Enel Argentina (@EnelArgentina) February 17, 2023
“We trust that Central Costanera will be strengthened with our arrival since we have the experience, knowledge, management and the most efficient management systems to carry it out”, said Fernando Bonnet, general manager of Central Puerto.
“This new challenge stems from the conviction that it is necessary to increase the power availability of the Costanera machines in order to strengthen and cover the demand at the national level”, he completed.
The Enel Group is present in Argentina through Enel Argentina, a subsidiary of Enel Américas.
In the generation segment, in addition to the assets currently for sale, The Group operates the 1,328 MW Enel Generación El Chocón hydroelectric plant.
Besides, distributes and sells energy to around 2.6 million customers in the City of Buenos Aires and 12 districts of Greater Buenos Aires.
The Group is also present in the segments of energy efficiency, home services and distributed generation through Enel X Global Retail and in the electric mobility sector with Enel X Way.
Last November, the Italian state-owned firm Enel had announced the sale of the electricity distributor for the southern area of the Buenos Aires Metropolitan Area (AMBA), Edesur, along with other assets it owns in Argentina, within the framework of the worldwide divestment plan announced by the company.
