E.ON divests its hydroelectric plants in Italy to ERG Group

Duesseldorf - E.ON has agreed to sell its Italian hydroelectric complex in Terni to ERG Power Generation S.p.A.

The ERG group, based in Genoa, is a leading player in the business of energy production from renewable sources and is committed to the long-term future of the business.

The Terni Hydroelectric Complex extends over an area covered by the Regions of Umbria, Lazio and Marche. It consists of 16 hydro power plants, 1 pumping station, 7 large dams and 3 reservoirs (Salto, Turano and Corbara), 22 weirs and 155 kilometers of channels and tunnels. 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

Source: IWR Online, 07 Aug 2015