Under the agreement, Edison will divest to a newly established corporation the business operations consisting of seven hydroelectric power plants, which operate by virtue of concessions expiring between 2011 and 2020.
These plants have a combined installed capacity of around 245MW and an average annual potential output of about 1,000GWh.
Under the agreement, 60% of the new company’s share capital will then be sold to Societa Elettrica Altoatesina (SEL), with Edison owning the remaining 40%.
The sales price of E177 million for a 60% interest in the new company was arrived based on a total value of E295 million for all the divested business operations.
