INPEX Enters Share Purchase Agreement with Enel Green Power on Australian Renewable Energy Business

Source Company Press Release
Company Inpex Corporation, Enel SpA
Tags Country: Australia, M&A: Corporate Deal, Deals, Segment: Power
Date July 13, 2023

INPEX CORPORATION (INPEX) announced it has agreed with Enel Green Power S.p.A. (EGP), a subsidiary of Italian utility company Enel S.p.A. (Enel), on the transfer of 50 percent of shares in Enel Green Power Australia Pty Ltd and Enel Green Power Australia Trust (together “Enel Green Power Australia”, or “EGPA”), two entities owning all of Enel’s activities in Australia, to a subsidiary of INPEX, signing a share purchase agreement today.

EGPA is currently engaged in renewable energy operations including wind, solar, storage and hybrid projects, across Australia, alongside expanding its activities in innovative solutions within its retail and trading operations. INPEX will purchase 50 percent of shares in EGPA through its newly established subsidiary INPEX Renewable Energy Australia Pty Ltd and upon the transaction closing, is expected to jointly control EGPA, overseeing the company’s current renewable generation portfolio and continuing to develop its project pipeline, targeting an increase of EGPA’s installed capacity. This ensures EGPA will continue to drive the energy transition underway in Australia, accelerating its contribution to achieve the country’s net zero target.

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