E.ON sells its hydroelectric plants in Italy to ERG GroupStaff writer ▼ | August 8, 2015
E.ON has agreed to sell its Italian hydroelectric complex in Terni to ERG Power Generation S.p.A.
Energy business 16 hydro power plants in Umbria, Lazio and Marche
It utilizes the water of the river Nera, Velino and Tiber, as well as their tributaries. With an overall efficient capacity of 527 megawatts the complex generates about 1.4 terawatt-hours power per year.
The transaction, which is subject, inter alia, to the approval of the Italian Antitrust Authority and the completion of the compulsory notification and consultation procedures with the relevant trade unions, is expected to close before the end of 2015.
This transaction follows the closing of the sale of E.ON’s coal, gas and solar generation businesses in Italy. After completing the strategic review of E.ON’s Italian power and gas sales business, E.ON has decided to further develop this business which already provides power and gas to around 700.000 customers.
Additionally, E.ON Connecting Energies has built up a strong market position in distributed energy from which the company is expanding its business. ■