Enel's Peruvian subsidiary has finalized the sale of its entire holdings in power generation companies Enel Generación Perú and Compañía Energética Veracruz to Niagara Energy Sac.

The total consideration is approximately $1.3 billion, as anticipated by Niagara Energy on May 7, and includes usual adjustments for this type of transaction, in line with the terms of the sale and purchase agreement, the Enel note says.

The total enterprise value, referring to 100 percent of the assets sold, is about $2.1 billion.

The transaction, Enel says, generated a reduction in the group's consolidated net debt of about 1.2 billion euros in 2024, which is in addition to the approximately 400 million euros recognized in 2023, mainly due to the reclassification as "held for sale" of the assets and liabilities related to the generation assets in Peru.

Similarly, the transaction generated a positive impact on the group's reported net income in 2024 of about 7 million euros, while it has no impact on ordinary business results.

The divestment, envisaged in the 2024-2026 strategic plan, is in line with the objective of ensuring thatEnel has a solid and sustainable financial structure and increasing the share of invested capital in the geographic areas where the group has focused its strategic plan.

(Claudia Cristoferi, editing Andrea Mandalà)