Italian utility Enel has sold 100% interests in four renewable projects comprising 540 MW of solar and wind, to China's CGN Energy International for $700m. Enel will do this by financing its new investments through a build, sell and operate model. The deal is the first major international investment by a Chinese company into renewables since China joined the Paris climate change agreement last year. The company said the sale would allow it to finance other projects in Brazil, through a build, sell and operate model.
Italian utility Enel has sold 100% interests in four renewable projects comprising 540 MW of solar and wind, to China's CGN Energy International for $700m. The deal is the first major international investment by a Chinese company into renewables since China joined the Paris climate change agreement last year. The company said the sale would allow it to finance other projects in Brazil, through a build, sell and operate model.