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Enel subsidiary to acquire 132 MW of wind farms in Spain

Endesa SA subsidiary Enel Green Power España signed an agreement to expand its wind capacity by 132 MW with the acquisition of five wind farms in Galicia and Catalonia, Spain.

Under the transaction, Endesa will acquire the assets from Gestinver for €178 million including debt repayments, according to a news release. The company will integrate the new operational plants into its own structure, given that the new assets require no additional investment. Endesa said that means it is not necessary therefore to increase costs, adding value through economies of scale.

The two Catalan wind farms are the 30-MW Les Forques and 44-MW Montargull. The three Galician wind facilities are the 20-MW Farrapa, 14-MW Peña Revolta and 23.5-MW Pousadoiro. The average capacity factor for the five plants is above 28%, according to the news release.

The company expects to close the deal in the coming months, putting Endesa's renewable footprint in Spain at 1,806 MW.

The acquisition is in line with the Enel Group's strategy to achieve full de-carbonization of its power mix by 2050. Endesa is the Spanish subsidiary of the Italian utility Enel SpA.