Enel Green Power Sells Stake in Renewable Energy Portfolio

Skadden represented Enel Green Power North America, Inc. in its $440 million sale to GE Energy Financial Services of a 49 percent interest in an approximately 760-megawatt portfolio of renewable energy projects located in North America. The transaction involves a structure similar to a yieldco under which Enel will continue to manage, operate and maintain the assets and will grant GE a right of first offer over certain assets within its development pipeline.