Annual Report 2010 - Enel.com

19
April
€10 billion revolving line of credit
On April 19, 2010, Enel agreed a 5-year revolving credit
facility for €10 billion to replace a €5 billion syndicated
loan. The new credit line can be used directly by Enel and
by Enel Finance International, offering the Group a highly
flexible tool to help manage working capital, as it is not
part of the Group’s debt refinancing program. At December
31, 2010 no drawings were outstanding on the credit
line.
20
April
Acquisition of exploration permits and gas
assets in northern Italy
26
April
On April 20, 2010, Enel Trade finalized the acquisition of
the gas sector assets (now Enel Longanesi Development)
of the Canadian Stratic Energy Corporation in northern
Italy, in the implementation of the agreement signed in
1
November 2009. The assets include about 0.7 billion cubic
meters of reserves and a number of exploration permits,
acquired for a total of €33 million. The price will be subject June
to possible adjustment based on when production starts
at the fields.
Agreement with INTER RAO UES for the
development of operations in Russia
On April 26, 2010, Enel and INTER RAO UES signed a memorandum
of understanding for cooperation in the nuclear
power sector, construction of new plants and technological
innovation, energy efficiency and distribution in Russia
and the countries of Eastern Europe. One major project
will be the analysis of the development of a new nuclear
plant at Kaliningrad, the first public-private partnership in
the nuclear power field in Russia. The plant will consist of
two units of 1,170 MW each and will employ the thirdgeneration
VVER 1200 technology. The facility is expected
to begin operation between 2016 and 2018, with a significant
proportion of the electricity generated to go to
nearby European markets. INTER RAO UES will provide the
terms and conditions of participation by foreign investors
in the new nuclear reactor as well as the technical specifications
for the distribution of the electricity generated.
Enel will study the technical, economic and regulatory aspects
of the project to assess the conditions and form of its
possible participation in the initiative.
Agreement between Enel Produzione and
SEL to develop hydroelectric power in the
Province of Bolzano
On June 1, 2010, in implementation of the Final Agreement
signed on October 20, 2009, Enel Produzione and
Società Elettrica Altoatesina (SEL) established SE Hydro
Power, in which Enel Produzione and SEL hold stakes of
40% and 60% respectively. Until December 31, 2010, the
company operated the 12 major hydroelectric diversion
concessions currently held by Enel Produzione in the Province
of Bolzano, which expired at the end of the year.
As from January 1, 2011, SE Hydro Power will operate ten
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