Contract between Enel and CGN Energy yields R $2.9 billion

The Italian company Enel Distribuição Rio signed a sales contract worth R $2.9 billion of renewable energy plants in Brazil for the Chinese CGN Energy International Holdings. The transaction includes the production of 540 megawatts (MW) of wind and solar power plants.

The traded assets comprise solar and wind power plants, one in Nova Olinda, Piauí, which has a capacity of 292 megawatts and two in Bahia, one in the Lapa of solar energy and a wind farm in Cristalândia, with capacities of 158 MW and 90 MW, respectively.

According to Enel, the closing of the contract is scheduled for the third quarter of 2019, and is subject to previous conditions, which includes the approval of government authorities. In addition, it intends to enhance the creation of value with the sale of assets, releasing funds to invest in the projects of the mills.

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