Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Italy
  4. Borsa Italiana
  5. Enel S.p.A.
  6. News
  7. Summary
    ENEL   IT0003128367

ENEL S.P.A.

(ENEL)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 08/05 05:19:34 am
7.732 EUR   +0.38%
02:35aENEL S P A : to Sell Entire 50% Stake in Open Fiber For $3 Billion
MT
02:10aEnel Sells Open Fiber Stake for EUR2.65 Billion
DJ
02:06aENEL S P A : sells 50% of Open Fiber for 2,650 million euros
PU
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Enel : Green Power brings online its first power plant in Zambia

04/29/2019 | 05:18am EDT

PRESS RELEASE

Media Relations

T +39 06 8305 5699 ufficiostampa@enel.com

enelgreenpower.com

ENEL GREEN POWER BRINGS ONLINE ITS FIRST POWER PLANT IN ZAMBIA

The 34 MW1 Ngonye solar PV facility, located in southern Zambia, will sell its energy to the country's state-owned utility ZESCO through a 25-year power purchase agreement

Investment in the construction of the facility amounted to approx. 40 million US dollars, partly funded through a financing agreement signed with Zambia's Industrial Development Corporation

(IDC)

Rome, April 29th, 2019 - Enel Green Power ("EGP"), the Enel Group's global business line dedicated to renewable energy, has started operations of the 34 MW1 Ngonye solar PV plant, which is the Group's first power plant in Zambia. The PV facility, which is located in Lusaka South Multi-Facility Economic Zone in the country's south, is part of the World Bank Group's Scaling Solar programme carried out by Zambia's Industrial Development Corporation (IDC), which awarded EGP in June 2016 the right to develop, finance, construct, own and operate the plant.

"With the connection to the grid of Ngonye in Zambia, we are reconfirming our commitment to helping the country leverage on its vast wealth of renewable resources, which poses a great opportunity for growth," said Antonio Cammisecra, Head of Enel Green Power. "Through this project we are boosting the government's ambitious push to improve access to electricity throughout the country, while diversifying its generation mix to hedge against severe drought and climate change effects. This successful project also confirms that effectively-designed development programmes, like Scaling Solar, are key to attracting private renewable investments in Africa."

The Ngonye solar plant, which is owned by a special purpose vehicle 80% held by EGP and 20% by IDC, is supported by a 25-year power purchase agreement signed with Zambia's state owned utility ZESCO. Once fully up and running, the facility is expected to produce around 70 GWh per year, while avoiding the annual emission of over 25,600 tons of CO2 into the atmosphere.

The Enel Group invested approximately 40 million US dollars in the construction of Ngonye. In June 2018, Enel signed a financing agreement with IDC of around 34 million US dollars for the construction of the PV plant, involving senior loans of up to 10 million US dollars from the International Financing Corporation (IFC), a member of the World Bank Group, up to 12 million US dollars from the IFC-Canada Climate Change Program and up to 11.75 million US dollars from the European Investment Bank (EIB).

Zambia has a significant need to diversify its energy generation mix, currently dominated by hydro, with the aim to increase the security and quality of supply by meeting the country's growing electricity consumption while encouraging the electrification of rural areas. For this reason, Zambia's government launched a series of initiatives to promote the development of renewables, with a particular focus on

1DC capacity, equivalent to 28 MWac.

1

Enel Green Power SpA - Company with a sole shareholder - Registered Office 00198 Rome - Italy - Viale Regina Margherita 125 - Companies Register of Rome, Tax I.D. and VAT Code 10236451000 - R.E.A. 1219253 - Stock Capital Euro 272,000,000.00 fully paid-in - Management and coordination by Enel SpA

photovoltaic power, setting the goal of installing up to 600 MW of solar power within the next two to three years. In this framework, IDC launched a tender for the development of two PV projects with a total capacity of up to 100 MW structured according to the World Bank Group's Scaling Solar programme, with the International Finance Corporation acting as advisor. At the same time, Zambia's Government launched another tender for an additional 100 MW of PV to be awarded under the GET FiT solar framework.

In Africa Enel Green Power is currently the largest independent renewable energy player in terms of MW installed. The Enel Group is investing around 700 million euros in the continent, building 900 MW of wind and solar capacity over its 2019-2021 strategic plan. The Group currently operates in Zambia, as well as South Africa where it has over 500 MW in operation and more than 700 MW in execution. Additionally, Enel Green Power was awarded 100 MW of solar capacity in Ethiopia and has 180 MW of wind capacity in execution in Morocco, out of a total of 850 MW awarded in the country.

Enel Green Power is the Enel Group's business line dedicated to the development and operation of renewables across the world, with a presence in Europe, the Americas, Asia, Africa and Oceania. Enel Green Power is a global leader in the green energy sector with a managed capacity of over 43 GW across a generation mix that includes wind, solar, geothermal and hydropower, and is at the forefront of integrating innovative technologies into renewable power plants.

2

Disclaimer

Enel S.p.A. published this content on 29 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 April 2019 09:17:15 UTC


ę Publicnow 2019
All news about ENEL S.P.A.
02:35aENEL S P A : to Sell Entire 50% Stake in Open Fiber For $3 Billion
MT
02:10aEnel Sells Open Fiber Stake for EUR2.65 Billion
DJ
02:06aENEL S P A : sells 50% of Open Fiber for 2,650 million euros
PU
08/03ENEL S P A : To Develop Innovative Solutions With Aeroporti di Roma
MT
08/03ENEL S P A : ADR - Enel Italia sign an agreement to work together to relaunch in..
PU
08/03Enel to Acquire Hydro Plants Portfolio Through ERG Hydro Takeover
DJ
08/02ENEL S P A : Unit to Buy Hydro Plant Company ERG Hydro for $1.2 Billion
MT
08/02ENEL S P A : agrees to buy hydro assets from Italy's ERG in 1 bln euro deal
RE
08/02ENEL S P A : signs an agreement with ERG to acquire 527 MW of hydro plants
PU
08/02ENEL S P A : Largo Resources Receives Notice to Proceed on Its Battery Sales Con..
AQ
More news
Financials
Sales 2021 73 269 M 86 733 M 86 733 M
Net income 2021 5 492 M 6 501 M 6 501 M
Net Debt 2021 49 120 M 58 147 M 58 147 M
P/E ratio 2021 14,2x
Yield 2021 4,94%
Capitalization 78 282 M 92 653 M 92 667 M
EV / Sales 2021 1,74x
EV / Sales 2022 1,73x
Nbr of Employees 65 923
Free-Float 76,4%
Chart ENEL S.P.A.
Duration : Period :
Enel S.p.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ENEL S.P.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 7,70 €
Average target price 9,38 €
Spread / Average Target 21,8%
EPS Revisions
Managers and Directors
Francesco Starace Chief Executive Officer, Director & GM
Alberto de Paoli Chief Financial Officer & Head-Administration
Michele Alberto Fabiano Crisostomo Chairman
Anna Chiara Svelto Independent Director
Cesare Calari Independent Director
Sector and Competitors
1st jan.Capi. (M$)
ENEL S.P.A.-6.92%92 653
NEXTERA ENERGY3.53%155 803
DUKE ENERGY CORPORATION16.44%82 006
IBERDROLA, S.A.-12.56%75 187
SOUTHERN COMPANY4.40%67 902
ORSTED A/S-24.83%62 593