Enel starts disposal process for assets in Argentina by selling thermal generation activities

The Enel Group, through its subsidiary Enel Argentina, has signed and closed the deal for the sale to energy company Central Puerto S.A. (“Central Puerto”) of the Group’s 75.7 percent stake in the thermal generation company Enel Generación Costanera (“Costanera”). At the same time, Enel has signed the agreement on the sale to Central Puerto of the Group’s 41.2 percent stake in the thermal generation company Central Dock Sud (“Dock Sud”), which is expected to be closed within the first quarter of 2023 subject to certain conditions precedent. The total consideration for the sale of Enel’s equity in the two companies amounts to 102 million US dollars.

Costanera, located in the city of Buenos Aires, is the largest thermal power plant in Argentina, which was built with a total capacity of 2,305 MW. 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, listed in Buenos Aires and New York Stock Exchange (NYSE).

The Enel Group is present in Argentina through Enel Argentina, a subsidiary of Enel Américas. In the generation segment, on top of the assets currently under sale, the Group operates the 1,328 MW hydropower plant Enel Generación El Chocón. Furthermore, the Group distributes and sells energy to around 2.6 million customers in the Greater Buenos Aires area. The Group is also present in the energy efficiency, home services and distributed generation segments through Enel X Global Retail and in the electric mobility sector with Enel X Way.