Power DECODED
Previous edition: 09 May 2024
Share article
Get the full version straight to your inbox.
Exclusive access to our best-in-class data & intelligence
Subscribe now
Niagara Energy concludes $1.36bn takeover of Enel Distribución Perú
Niagara Energy, an Actis-controlled company, has successfully concluded the $1.36bn acquisition of Enel‘s distribution and supply company, Enel Distribución Perú.
The transaction grants Niagara a 92.35% stake in the power-generating subsidiary of the Italian utility Enel.
The acquisition involved Niagara purchasing approximately 2.9 billion shares at $0.47 each.
Enel Distribución revealed the deal in a statement to Peru’s market regulator.
It aligns with the company’s strategic growth objectives in Brazil, Chile, Columbia, Italy, Spain and the US.
In November 2023, agreements were made for Enel Americas and Enel Peru SAC to divest their shares in two Peruvian power generation firms to Niagara Energy.
The transaction will reduce the Enel Group’s consolidated net debt by €1.6bn ($1.75bn) and positively impact reported net income for 2024 by approximately €60m.
In March 2024, Niagara Energy initiated an offer to acquire all outstanding shares of Enel Distribución Perú contingent upon acquiring at least 87% of the shares. The offer remained open for 20 days.
Peru’s antitrust authority has previously approved the sale of Enel Distribución Perú, and Enel X Peru, an advanced energy services provider, to China’s Southern Power Grid International.
That deal, announced in April 2023, was valued at $2.9bn and included Enel Perú’s 83.15% stake in Enel Distribución Perú and its entire stake in Enel X Perú.
Latest news
Orsted's Gode Wind 3 offshore wind farm delivers first power
The turbines for the project have been constructed by Siemens Gamesa.
Sizewell C granted nuclear site licence
The Office for Nuclear Regulation (ONR) has announced that it has granted Sizewell C a nuclear site licence, allowing the installation and operation of a nuclear power station at the site.
Portuguese court rules renewable energy levy unconstitutional
Aconstitutional court in Portugal has ruled the country’s extraordinary levy on renewable energy utilities, known as the CESE, unconstitutional.
IPCL and E2S Power to develop thermal energy storage system
The India Power Corporation (IPCL) and Swiss energy storage company E2S Power have collaborated to develop a TESS to enhance energy storage and transmission efficiency.
Siemens Gamesa CEO steps down, shares surge 13%
The CEO of leading wind turbine manufacturer Siemens Gamesa, Jochen Eickholt, will stand down from his position amidst ongoing restructuring efforts.
In our previous edition
Power Decoded
Siemens Gamesa CEO steps down, shares surge 13%
08 May 2024
Power Decoded
ACWA Power seals $4.85bn Uzbek wind project deal
07 May 2024
Power Decoded
US wind power generation falls for the first time since 1990s
06 May 2024
Newsletters in other sectors
Aerospace, Defence & Security
Medical Devices
Travel and Tourism
Search companies, themes, reports, as well as actionable data & insights spanning 22 global industries
Access more premium companies when you subscribe to Explorer