Enel finalized the sale of its entire stake in PJSC Enel Russia

Enel announces that it finalized the sale of its entire stake in PJSC Enel Russia to PJSC Lukoil and the Closed Combined Mutual Investment Fund “Gazprombank-Frezia”, for a total consideration of about 137 million Euro.

As result of the transaction, Enel has disposed of all its Russian power generation assets, which included approximately 5.6 GW of conventional capacity and around 300 MW of wind capacity at different stages of development.

“The overall transaction generated a positive effect on the Group’s consolidated net debt of about 610 million Euro and a negative impact on reported Group net income of around 1.3 billion Euro, mainly reflecting the release of a currency translation reserve of around 1.0 billion Euro as of September 30, 2022. This accounting effect will not have any impact on ordinary economic results,” a release shows.