Reggio Emilia, 16th January 2013 - Following positive exchange of views between the Parties, the Board of Directors of IREN decided today to exert the put option, envisaged by the agreements, to exit Edipower and to start a formal procedure in accordance with envisaged time and modalities.
Agreements envisage the assignation of Turbigo high-efficiency CCGT plant (800 MW of installed power) and of the Tusciano hydroelectric plant (approximately 250 Gwh/year) to Iren SpA, in exchange for the stake in Edipower owned by IREN.
With the acquisition of Turbigo and Tusciano plant, Iren Group will own directly 2000 MW of
CCGT thermoelectric capacity and 600 MW of hydroelectric capacity.
Thanks to the exit from Edipower and the consequent acquisition of generation assets, Iren Group will get both higher strategic flexibility and higher synergies deriving from the direct management of the acquired plants, integrating them into Iren plants portfolio.
With a multi-business portfolio and leading presence in all the industrial areas (electrical energy, gas, water, waste, district heating and renewable energy) in addition to a good balance between open market activities and regulated activities, IREN is in third place among the multi-utility companies, on a national basis in terms of revenue and Ebitda.
Investor RelationsGiulio Domma
Tel. + 39 0521.248410 giulio.domma@gruppoiren.it investor.relations@gruppoiren.it
Media RelationsSelina Xerra
Tel. + 39 0521.1919910
Cell. + 39 335.7723476 selina.xerra@gruppoiren.it
Barabino & Partners
Tel. +39 010 2725048
Roberto Stasio +39 335 5332483
Giovanni Vantaggi + 39 328 8317379
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