Enel, through its Dutch subsidiary Enel Investment Holding, has acquired Hydro Quebec International Latin America (HQILA) from Hydro Quebec International and Fonds de Solidarite des Travailleurs du Quebec. The transaction gives Enel, jointly with its partner Globeleq, a controlling stake in Panamanian hydro generation company EGE Fortuna, which owns the 300MW Fortuna project.

Enel will now take charge of the operational management of the Fortuna plant, which generates approximately 30% of Panama’s electricity.

Enel Investment Holding paid a consideration of US$150M for the shareholding in HQILA.