Key Points
- Italy’s largest utility, Enel, has acquired two wind farms in Germany.
- This is Enel’s first significant renewable energy purchase in the German market.
- The deal is valued at approximately 80 million euros.
- The company expects the wind farms to add 10 million euros to its annual core earnings.
Italy’s largest utility, Enel, announced on Monday that it has bought two onshore wind farm projects in Germany. This move marks the company’s first major step into the German renewable energy market.
The company said the deal is worth about 80 million euros ($94 million), including debt. Enel expects the new wind farms to add approximately 10 million euros to its core earnings each year, making them a financially sound investment from the outset.
The two wind plants have a combined capacity of 51 megawatts. A key feature of the deal is that the wind farms are part of a tariff system that guarantees a minimum price for the electricity they generate.
This provides Enel with a stable, predictable revenue stream from the new assets, reducing financial risk from fluctuating energy prices.
