- E.ON (OTCPK:EONGY) agrees to sell its hydroelectric power plant complex in Terni, Italy, to ERG Power Generation for ~€950M ($1B).
- The complex, which has 527 MW of generating capacity and produces ~1.4 terawatt hours/year of electricity, was put up for sale in late 2013 along with other assets in the country.
- The acquisition comprises 16 hydro plants, one pumping station, seven large dams and three reservoirs, and 155 km of channels and tunnels.
- The sale follows E.ON's disposal of its Italian coal, gas and solar generation capacity as well as its operations in Spain, effectively ending an ill-fated foray into southern Europe.