Enel Seeks Shareholder Approval for Russian Coal-Plant Sale
June 06 2019 - 1:13PM
Dow Jones News
By Nathan Allen
Enel SpA (ENEL.MI) has called an extraordinary shareholders'
meeting to approve the sale of its Reftinskaya coal-fired plant in
Russia.
The Italian power company said Thursday that it plans to sell
the facility to Russia's Kuzbassenergo (KZBE.RS), a subsidiary of
Siberian Generating Company, for an initial payment of 286 million
euros ($321.9 million).
If the deal goes through, Kuzbassenergo would pay a further
EUR41 million over the next five years, subject to conditions.
With an installed capacity of 3,800 megawatts, Reftinskaya is
the biggest coal-fired power plant in Russia. The sale is in line
with Enel's strategic shift toward a more sustainable model based
on renewables, the company said.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
June 06, 2019 12:58 ET (16:58 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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