By Giulia Petroni

Enel and its listed Chilean subsidiary have signed an agreement to sell a photovoltaic generation portfolio in Chile to renewable-energy producer Sonnedix.

The Rome-based utility company said late on Wednesday that Arcadia Generacion Solar owns a portfolio of four operating PV plants with a total installed capacity of around 416 megawatts in Northern Chile.

Sonnedix is set to pay a total consideration of $550 million for the assets.

The transaction is expected to generate a positive impact on Enel net debt of around 504 million euros ($560.9 million) and of around EUR20 million on its net income in 2023.

Closing of the deal is subject to authorities approvals.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

July 13, 2023 01:47 ET (05:47 GMT)

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