Enel Unit Signs Swap Agreement With Gulf Pacific Power, To Increase U.S. Renewable Capacity By 285 MW

May 26 (Reuters) - Enel SpA ENEI.MI:

• SIGNS AGREEMENT THAT ALLOWS THE GROUP TO INCREASE CONSOLIDATED RENEWABLE CAPACITY IN THE US BY 285 MW

• UNIT ENEL GREEN POWER NORTH AMERICA HAS SIGNED SWAP AGREEMENT WITH GULF PACIFIC POWER

• AGREEMENT PROVIDES FOR NET CONSIDERATION OF ABOUT 50 MILLION US DOLLARS IN CASH TO BE PAID BY EGPNA

• ANNUAL POSITIVE NET EFFECT OF ABOUT 50 MILLION US DOLLARS EXPECTED ON ENEL CONSOLIDATED ORDINARY EBITDA

• COMPLETION OF TRANSACTION SUBJECT TO FULFILLMENT OF CERTAIN CONDITIONS, INCLUDING THE AUTHORIZATION BY US FEDERAL ENERGY REGULATORY COMMISSION, CONSENT OF TAX EQUITY PARTNERS