Italian renewable giant Enel has closed the sale of a 416MW operating PV portfolio in Chile to renewables producer Sonnedix for $556m.

The company said the sale is expected to generate a positive impact on Enel Group net debt of around €525m, and on reported net income for 2023 of about €50m ($52.9m).

The transaction is in line with the group’s strategic priorities and contributes to the objective of constantly improving the returns on capital employed in support of future development plans, Enel said.