Enel to acquire the cogeneration plant fuelled by natural gas at Priolo Gargallo from ERG.

Enel, an Italian multinational manufacturer and distributor of electricity and gas, agreed to acquire the 480MW thermoelectric complex fuelled by natural gas at Priolo Gargallo from ERG, a publicly listed Italian energy company. Financial terms were not disclosed. "We are satisfied with the agreement with Enel, who are a leading global energy group with a consolidated industrial position in Italy. This is because it offers the best guarantees in terms of reliability for integrating our personnel and fully enhancing the asset. With this transaction, ERG completes its business transformation into a pure 'wind & solar' model and continues along the path of decarbonisation envisaged in the ESG plan. The financial resources from the divestment of the Hydro and CCGT plants will be used to give new impetus to the Group's growth," Paolo Merli, ERG CEO.