Endesa sell-off update

29 June 2001

Spanish utility Endesa will sell shares in the Santa Maria de Garoña and Trillo nuclear plants as expected (see NEI June 2001, p12). Endesa is transferring its 50% share in the 466MWe Santa Maria de Garoña BWR and a 1% share in the 1055MWe Trillo PWR to its subsidiary company Electra de Viesgo. The new company’s generating assets will also include hydroelectric, gas-, and coal-fired plants, with production totalling about 5.4% of the total Spanish electricity market.

Germany’s RWE group is the main candidate to buy Electra de Viesgo, but several other utilities are interested. Endesa has said it will ask for bids, expected to be of the order of 5 billion Euros, later this year.

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