Sale of Endesa Ireland

NEW YORK--(BUSINESS WIRE)--

SIGNIFICANT EVENT

Endesa S.A. (“Endesa”) has reached an agreement to sell Scottish and Southern Energy plc (“SSE”) the entire share capital of Irish company Endesa Ireland Ltd (“Endesa Ireland”) in which its currently holds an ownership interest of 0.02% and Endesa Generación S.A. an interest of 99.98%.

Endesa Ireland owns power generation plants in Ireland with a total installed capacity equivalent to 1,068 MW (around 12% of the country’s total capacity). Specifically, it owns two fuel oil plants in Tarbert and Great Island, with total capacity of 620 MW and 240 MW, respectively, and two gasoil facilities in Rhode and Tawnaghmore, each with capacity of 104 MW. It also owns two sites (Lanesboro and Shannonbridge) on which new installations may be built. Endesa Ireland is currently building a 461 MW combined cycle plant at Great Island, which is expected to come on-stream in early 2014.

The price offered by SSE for the 100% of Endesa Ireland’s capital, is Euro 270 million and includes the company’s CO₂ emission rights and fuel reserves. This amount is equivalent to around Euro 382 of estimated enterprise value at the end of the transaction, expected to be completed in the third quarter of 2012.

The end of the transaction is subject to approval by the pertinent regulatory and antitrust authorities.

15 June 2012