Enel sells 49% of energy storage unit, Enel Libra Flexsys, to Sosteneo for €1.1B to reduce net debt.
Enel sells 49% stake in its energy storage unit to Italian asset manager Sosteneo for €1.1B ($1.19B), aiming to reduce its net debt. Enel Libra Flexsys, the unit being sold, has a portfolio of 23 battery energy storage systems with a total capacity of 1.7 GW and three gas-fired power plant renovation projects. The deal is part of Enel's strategy to sell minority stakes in the storage unit to meet debt-cutting targets.
March 01, 2024
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