Enel has reached an agreement with Kuzbassenergo (part of the Siberian Generating Company) to sell its 3,800 MW Reftinskaya coal-fired power plant in Reftinsky, in the Sverdlovks region of Russia, for at least RUB21bn (around US$325m); a contingent payment of up to RUB3bn (around US$46m) is considered, payable within 5 years from sale closing and subject to specific conditions. The transaction is expected to close within 18 months (by the end of December 2020) and is subject to the approval from the Russian Federal Antimonopoly Service.
The 3,800 MW coal-fired power plant consists of four 500 MW units and six 300 MW units, commissioned between 1970 and 1980. The power plant is able to cover around 40% of the total electricity consumed in the Sverdlovsk region. The sale is in line with Enel's strategy to focus on a more sustainable business model. In Russia, Enel is progressively shifting its power mix towards renewable energies. The group is investing in renewables and advanced energy services and is modernising its existing thermal power plants to make them more energy-efficient.
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