Rome, July 23rd, 2014 Enel Green Power SpA (Enel Green Power) will buy out the interests (each equal to one-third of the share capital) of Sharp Corporation and STMicroelectronics in 3Sun Srl ("3Sun"), the equal joint venture between Enel Green Power, Sharp and STMicroelectronics.
3Sun currently manufactures around 200 MW of thin-film, multi-junction photovoltaic panels each year at its Catania plant. The panels produced at the 3Sun factory, which are especially well-suited for high-temperature applications, are used by Enel Green Power to build its photovoltaic plants in the various geographical areas of emerging countries envisaged in the 2014-2018 Business Plan, including South America and South Africa. Specifically, in South Africa, the company was awarded the right, in October 2013, to enter into contracts to supply photovoltaic power in the amount of more than 300 MW of installed capacity.
Under the agreement with STMicroelectronics, which follows the agreement reached last week with Sharp Corporation, Enel Green Power will receive payment of 15 million euros from STMicroelectronics which, as a consequence, will be fully released from any obligations concerning the joint venture or Enel Green Power.
The acquisition, which will result in Enel Green Power holding 100% of 3Sun, will become effective once approval is received from the lender banks and the competent authorities (if required).
All Enel Green Power press releases are also available in versions for smart phones and tablets.
You can download the Enel Mobile app at: Apple Store, Google Play and BlackBerryApp World
For the dissemination to the public and the storage of regulated information made available to the public, Enel S.p.A. has decided to use respectively the platforms “eMarket SDIR” and “eMarket Storage”, both available at the address www.emarketstorage.com and managed by Teleborsa S.r.l. - with registered office in Rome, at 4 Piazza Priscilla - as per CONSOB authorization and resolutions n. 22517 and 22518 of November 23, 2022.
From May 19th 2014 to June 30th 2015, Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated “1Info”, available at the address www.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by Consob with resolution No. 18852 of April 9th, 2014.