Enel to buy 527MW of hydro capacity for €1bn

The company will acquire the assets from the Italian renewable energy group ERG

Big Zero Report 2022

Enel has announced it has agreed to buy a range of hydroelectric plants and infrastructure from Italian renewable energy group ERG for €1 billion (£850m).

The portfolio has a total capacity of 527MW and consists of 19 hydro plants, seven micro-hydro plants, seven large dams and four reservoirs.

Once completed, the transaction will help the Enel Group reach approximately 13GW of installed hydro capacity in Italy.

Salvatore Bernabei, Chief Executive Officer of Enel Green Power and Head of Enel’s Global Power Generation business line, said: “By acquiring these strategic assets we are consolidating our role as a leader in the energy transition in Italy and we are taking an important step towards the achievement of the group’s decarbonisation targets.”

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