US renewable asset portfolio changes hands in major agreement

Enel Green Power North America, a subsidiary of Enel S.p.A., concludes a $271 million deal with ORMAT Technologies Inc. for a US renewable asset portfolio. The sale encompasses EGPNA’s entire geothermal portfolio and small solar plants, totaling approximately 150 MW. The transaction, now closed, is impact Enel’s net debt positively by €250M but reduce reported net income by €30M.