Edipower holding rises to 16%

The energy service provider Atel has increased its stake in Edipower, the Italian power station company, from 13.3 to 16% in connection with the current Edipower refinancing.

Atel now holds a 16% financial stake in Edipower, Italy's second largest electricity producer, plus a 20% share in energy output. This means the energy capacity now available to Atel will increase from around 1,250 MW to 1,650 MW. As expected, Edipower has refinanced the original financing provided to acquire power stations in Italy, preferring to adopt a longer-term solution. The refinancing will be provided by an Edipower share capital increase and a renewed loan. As previously, shareholders will include Edison, AEM Milano, AEM Torino and Atel, plus a bank consortium. Limited involvement by AEM Torino means the stakes held by AEM Milano and Atel stakes have risen to 16 and 20% as described above.

Aare-Tessin Ltd. for Electricity Corporate Communications