Acquisition

MADRID--(BUSINESS WIRE)-- 

Borja Acha Besga,
Secretary of the Board of Directors

Madrid, 15 November 2024

In accordance with the provisions of Article 226 of the Spanish Securities Market Act, Endesa, S.A. hereby issues notice of the following Insider Information:

Endesa, S.A. hereby states that its wholly-owned subsidiary, Endesa Generación, S.A., has signed an agreement with Corporación Acciona Energías Renovables, S.A., a company belonging to the Acciona Group, for the purchase of the entire share capital of Corporación Acciona Hidráulica S.L. The agreement provides a purchase price of 1,000 million euros, subject to the customary adjustments typically agreed in this type of transactions, in exchange for all (100%) of the shares, free of debt.

Corporación Acciona Hidráulica owns a portfolio of 34 hydro power plants located in northeastern Spain with a total installed capacity of 626 MW, most of which are modulable and which generated approximately 1.3 TWh in 2023.

The agreement will enable Endesa to further strengthen its position in the renewable energy sector by increasing its share of power sales using own production from renewable sources, thus maximizing the revenues generated by its integrated presence along the entire value chain.

Upon completion of the transaction, Endesa will have an installed hydro capacity of more than 5.3 GW in Spain, with a total capacity from renewable sources in Spain and Portugal of 10.7 GW.

The deal is expected to be completed in the first half of 2025 and is subject to the necessary clearance being secured from the competent antitrust and foreign investment authorities in Spain.

The agreed purchase price for the entire share capital of Corporación Acciona Hidráulica, S.L. will be financed with cash flows obtained from current operations and it is in line with the plan for the development of the expected capacity.

Secretary of the Board of Directors

Endesa, S.A. Registered offices: Calle Ribera del Loira, 60, Madrid. Registered in the Mercantile Registry of Madrid, page M-6405, volume 323, folio 1, Spanish Tax ID (C.I.F.) A28023430.