E.ON has agreed to divest its Italian hydroelectric complex in Terni to ERG Power Generation – a leading player in energy production from renewable sources.
The Terni Hydroelectric Complex extends over an area covered by the Regions of Umbria, Lazio and Marche. It consists of 16 hydro power plants, 1 pumping station, 7 large dams and 3 reservoirs (Salto, Turano and Corbara), 22 weirs and 155 kilometers of channels and tunnels. It utilises the water of the river Nera, Velino and Tiber, as well as their tributaries. With an overall efficient capacity of 527 megawatts the complex generates about 1.4 terawatt-hours power per year.
The transaction is expected to close before the end of 2015 following the closing of the sale of E.ON’s coal, gas and solar generation businesses in Italy. After completing the strategic review of E.ON’s Italian power and gas sales business, E.ON has decided to further develop this business which already provides power and gas to around 700,000 customers. Additionally, E.ON Connecting Energies has built up a strong market position in distributed energy from which the company is expanding its business.
