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Home Economy

Eni sells 49% of Enipower 

4 years ago
in Economy, Editor's pick, Energy, highlights, Home, home-news, latest News, Markets
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Eni sells 49% of Enipower 

Eni, a global energy company, and Sixth Street, a leading global investment firm, today announced they have reached an agreement for Sixth Street to acquire a 49% stake in Enipower.

Enipower is the second-largest producer of electricity in Italy, with six gas plants and a total power capacity of approximately five gigawatts (GW). Enipower is the first industrial steam co-generator and among the top operators in Italy’s network of providers needed to guarantee the functioning of the country’s electric systems.  

“The deal is part of Eni’s strategy to enhance our assets and free up new resources for the energy transition,” commented Francesco Gattei, Eni’s Chief Financial Officer.

“We are pleased to establish this long-term partnership with Sixth Street, an internationally recognized institutional investor specialized in infrastructure investments.”

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Sixth Street’s Infrastructure team focuses on creating long-term solutions for companies across the global infrastructure sector. Sixth Street forms capital partnerships at scale with institutions operating infrastructure, energy transmission, and renewable assets and has invested in over 6GW of renewable power since its founding.

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“The global energy transition requires creative, long-term solutions, and we are pleased to be partnering with Eni as it efficiently executes its energy transition strategy,” said Richard Sberlati, Partner at Sixth Street.

“This transaction is an example of the partnership approach we take to creating institutional solutions for multi-national companies in Europe and North America, drawing on our platform’s deep capabilities for investing in energy production, transmission, and renewable transitions.”

Eni will retain control of Enipower in terms of operations as well as over the financial consolidation of the company.

The agreement is subject to conditions precedent, including those pertaining to the relevant government authorities.

Source: Eni
Via: norvanreports
Tags: Eni sells 49% of Enipowerrenewable transitionsSixth Street
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