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Italy’s Enel sells 50% of its Australia green business to INPEX
Global Banking & Finance Review®
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MILAN (Reuters) – Italy’s Enel said on Friday it has finalised the sale of 50% of the two entities owning the group’s renewable activities in Australia to Inpex Corp.
MILAN (Reuters) – Italy’s Enel said on Friday it has finalised the sale of 50% of the two entities owning the group’s renewable activities in Australia to Inpex Corp.
The sale generated a positive impact on Enel group’s core earnings of approximately 95 million euros, alongside an expected positive effect on the group’s consolidated net debt of around 142 million euros ($151 million).
($1 = 0.9432 euros)
(Reporting by Francesca Landini, editing by Alvise Armellini)
Renewable energy is energy generated from natural resources that are replenished constantly, such as solar, wind, and hydroelectric power. It is considered more sustainable than fossil fuels.
Core earnings refer to a company's profits derived from its primary business operations, excluding any income from non-operational activities such as investments or asset sales.
A corporate partnership is a business arrangement where two or more companies collaborate to achieve mutual benefits, such as sharing resources, expertise, or market access.
Financial impact refers to the effect that a particular event or transaction has on a company's financial performance, including changes in revenue, expenses, or net income.
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