14 Nov '17, 9pm

Enel to Bid in Mexico Power Auction After Raising $1.35 Billion

Enel Green Power SpA , the renewable-energy unit of Europe’s largest utility, plans to bid in Mexico’s power auction this month after raising $1.35 billion with a deal to sell stakes in eight wind and solar projects in the country in October. “We’ll participate, for sure,” Chief Executive Antonio Cammisecra said in a phone interview. “Mexico is a core market for us and the sale deal doesn’t mean we are exiting the country.” The moves are part of strategy Enel calls “build, sell and operate.” Developing and then offloading assets will generate capital to invest in new ones, while the company continues to receive revenue from handling power plants once they’re complete, Cammisecra said. That strategy was demonstrated in October when Enel, Mexico’s largest renewable-asset owner, agreed to sell 80 percent of its share capital in 1.7 GW of renewable plants to the Canadian insti...

Full article: http://www.renewableenergyworld.com/articles/2017/11/enel...

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