July 5, 2018 / 1:12 PM / 16 days ago

Italy's Enel puts wind, solar farms in Brazil on the block: report

SAO PAULO (Reuters) - Italian energy firm Enel SpA (ENEI.MI) has recently hired Rothschild & Co (ROTH.PA) to sell two solar farms and a wind farm in northeastern Brazil, newspaper Valor Economico reported on Thursday.

FILE PHOTO: The new logo of Italy's biggest utility Enel is seen inside its flagship store in downtown Milan, Italy, May 4, 2018. REUTERS/Stefano Rellandini/File Photo

The assets, held by unit Enel Green Power, are located in the states of Bahia and Piauí and total about 540 megawatts in capacity. About 450 megawatts is solar power and 90 megawatts is wind power.

The sale process began “in recent days” and Enel is sounding out investors, the paper said, citing sources familiar with the matter.

Neither Enel nor Rothschild immediately responded to a request for comment on Thursday.

Enel declined to comment to Valor.

Last month, Enel made a big move in Brazil, acquiring a majority stake in power company Eletropaulo Metropolitana Eletricidade de Sao Paulo SA (ELPL3.SA), paying about $1.5 billion to become the nation’s largest electricity distributor.

Reporting by Gram Slattery; Editing by Bernadette Baum

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