INPEX Buys 50% Stake of Enel's Australian Renewable Projects

• Enel Green Power (EGP) has signed a deal with INPEX Corporation to sell a 50% stake in its Australian subsidiaries for €400 million. The transaction will positively impact EBITDA in 2023 and net debt in the long run. EGPA's portfolio includes solar and wind projects, plus innovative retail and trading solutions. Closing is subject to clearance from authorities.

Enel Green Power (EGP) has signed a deal with INPEX Corporation to sell a 50% stake in its Australian subsidiaries Enel Green Power Australia and Enel Green Power Australia Trust (EGPA). The transaction is valued at €400 million, with €140 million in debt. Upon closing, EGP and INPEX will jointly control EGPA, overseeing the company’s current renewable generation portfolio and continuing to develop its project pipeline. The deal is expected to generate a positive impact of around €87 million on the group’s ordinary EBITDA in 2023 and a positive effect on the group’s consolidated net debt of approximately €145 million. EGPA’s portfolio includes three solar farms with 310MW of installed gross capacity and one 76MW wind project under construction, with a 93MW solar project in execution. EGPA is also engaged in expanding activities for innovative retail and trading solutions. The closing of the sale is subject to customary conditions precedent, such as clearance from the Australian Foreign Investment Review Board and the competent Antitrust authorities.

What Impact Will the Sale of Enel Green Power have?

• The sale of Enel Green Power will provide a positive impact of €87 million on the Group's ordinary EBITDA in 2023, and a positive effect on the Group's consolidated net debt of €145 million.
• The deal will see INPEX Corporation take a 50% stake in Enel Green Power's Australian subsidiaries, Enel Green Power Australia and Enel Green Power Australia Trust (EGPA).
• Upon closing of the sale, Enel Green Power and INPEX will jointly control EGPA, overseeing the company's current renewable generation portfolio and continuing to develop its project pipeline.
• EGPA's portfolio includes three solar farms with 310MW of installed gross capacity and one 76MW wind project under construction, with a 93MW solar project in execution.
• In addition, EGPA is also involved in expanding activities for innovative retail and trading solutions.
• The closing of the sale is subject to clearance from the Australian Foreign Investment Review Board and the competent Antitrust authorities.