POST Online Media Lite Edition


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

Staff writer |
E.ON has agreed to sell its Italian hydroelectric complex in Terni to ERG Power Generation S.p.A.

Article continues below

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’s coal, gas and solar generation businesses in Italy. After completing the strategic review of E.ON’s Italian power and gas sales business, E.ON has decided to further develop this business which already provides power and gas to around 700.000 customers.

Additionally, E.ON Connecting Energies has built up a strong market position in distributed energy from which the company is expanding its business.

What to read next

Salini Impregilo signs deal for €2.5bn Ethiopian dam
Duke Energy to sell Brazilian holdings to China Three Gorges for $1.2bn
Hull Street Energy to acquire Nine Hydroelectric Plants in N.H. from Eversource