Enel buys Portuguese cogen operator

Enel Green Power Espana, through its subsidiary Finerge, has acquired an additional 50% stake in Sociedad Termica Portuguesa (TP), bringing its stake in the Portuguese renewable company to 100%.

TP holds shares in 13 cogeneration plants and two wind farms in Portugal.

This deal allows Enel Green Power Espana to consolidate a further 30.8 MW to its existing renewables portfolio on the Portuguese market, reaching 177 MW of installed capacity in the country.

Sonae Capital and Enel Green Power Espana were partners in TP, each with a 50% shareholding.

At the beginning of 2011 the two companies reached an agreement for the sale of the 50% ownership held by Sonae Capital and the deal was finalized after obtaining the greenlight from the Portuguese Competition Authority.

The deal also enables Enel Green Power Espaa to increase its shareholding in ENEOP to 40%. ENEOP is a consortium that was awarded authorization to build a total of 1200 MW of wind power in Portugal.

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