INPEX completed the acquisition of a 50% stake in Enel Green Power Australia from Enel Green Power for €400m.

INPEX, an oil company, completed the acquisition of a 50% stake in Enel Green Power Australia, an operator of 3 plants totaling 310 MW of installed gross capacity powered by solar, from Enel Green Power, a manufacturer and distributor of electricity and gas, for €400m. Upon the transaction’s closing, EGP and INPEX are expected to jointly control EGPA, overseeing the company’s current renewable generation portfolio and continuing to develop its project pipeline, targeting an increase of EGPA’s installed capacity. This ensures EGPA will continue to drive the energy transition underway in Australia, accelerating its contribution to achieve the Country’s net zero target.