Enel Green Power España (EGPE) and Gas Natural Fenosa signed an agreement for the break-up of all the assets of Enel Union Fenosa Renovables (EUFER), their 50% joint venture. According to this agreement, both EGPE and Gas Natural Fenosa will receive approximately 550 MW of installed capacity, both operational and under construction (including wind, mini hydro and cogeneration) and a pipeline of wind, thermo solar and biomass projects of approximately 2,000 MW. The net debt of EUFER will be split in a balanced way between EGPE and Gas Natural Fenosa. EUFER assets will be divided into two parts well balanced in terms of value, Ebitda, capacity, risk and technology mix, among others.
EGP Espana had been created in March 2010 by the integration of Enel Green Power's activities in Spain and Endesa Cogeneracion y Renovables (ECyR). EGPE is currently owned by EGP (60%) and Endesa Generacion (40%).
Thanks to this deal, EGPE, with an installed capacity of over 1,400 MW, a diversified generation mix (wind, hydro, solar and cogeneration) and over 10,000 MW of pipeline, further consolidates its position as a main force in the Iberian renewable energy market.