(Alliance News) - Enel Spa announced Friday evening that it has signed - through its subsidiary Enel Argentina - the sale to Central Puerto SA of its approximately 76 percent stake in Enel Generación Costanera, a thermoelectric generation company.

At the same time, Enel signed the agreement for the sale to Central Puerto of the 41% held in the thermoelectric generation company Central Dock Sud, which is expected to be finalized by the first quarter of 2023.

The total consideration for the sale of Enel's holdings in the two companies amounts to USD102 million.

Costanera, the company explains in a note, is located in the city of Buenos Aires and is the largest thermoelectric power plant in Argentina, built with a total capacity of 2,305 MW. Dock Sud owns and operates a gas-fired power plant located in the Avellaneda neighborhood of Buenos Aires, with installed capacity of 870 MW.

Central Puerto is the second largest electric generation company in Argentina with an installed capacity of nearly 5 GW, listed in Buenos Aires and New York.

The Enel Group, the company adds, is present in Argentina through Enel Argentina, a subsidiary of Enel Américas. In the generation sector, in addition to the assets currently being divested, the group operates Enel Generación El Chocón, a 1,328 MW hydroelectric power plant.

In addition, Enel distributes and sells energy to about 2.6 million customers in the Greater Buenos Aires area and is present in the energy efficiency, home services and distributed generation sectors with Enel X Global Retail, as well as in the electric mobility sector with Enel X Way.

Enel on Friday closed 0.4 percent in the red at EUR5.35 per share.

By Chiara Bruschi, Alliance News reporter

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