The Bungala solar park complex in South Australia. Image: Enel Green Power.
Credit Suisse has been hired to assist Enel Green Power with the sale and market the stake to Australian and offshore pension funds, infrastructure managers and other renewable energy asset owners. According to the report, the Swiss investment banking group has already launched an auction procedure and will accept the first round of offers by the middle of August.
Final offers for the stake are likely to be submitted towards the end of September.
Enel Green Power’s website shows the company has 309.2 MW of solar photovoltaic (PV) capacity in operation in Australia, coming from thee plants. The Bungala 1 and 2 parks near Port Augusta in South Australia, totalling 275.2 MW, have been generating electricity since 2018 and 2020, respectively, with Enel being their majority owner with 51% stakes. The Italian firm’s operational portfolio also includes the 34-MW Cohuna solar farm in Western Australia, as well as the 75.6-MW Flat Rocks Phase 1 wind farm, currently under development in Western Australia.