Enel will take control of the 31% of EGP it does not already own in a share-based transaction due to complete in early 2016, meaning the global renewables operator will join Iberdrola Renovaveis and EDF Energies Nouvelles in returning to full parental control after a spell on the stock markets as listed entities.

Enel made it clear this week that it sees EGP and renewables as its future “growth engine” as it unveiled increased installation targets that foresee the addition of 7.7GW