By Kim Richters

Enel SpA said Thursday that Endesa Generacion Portugal has won a 15-year contract with the Portuguese National Electrical System.

The Portugese subsidiary of Spanish utility company Endesa SA, which in turn is part of Rome-based energy company Enel SpA, won the right to connect 99 megawatt of a new solar storage project to the national grid.

The award is part of "preliminary results of the second renewable tender organized by the Portuguese government," said Enel.

The construction of the project, which is located in the Algarve region and is expected to begin operations in 2024, will cost around 90 million euros ($106.5 million).

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

August 27, 2020 12:17 ET (16:17 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
Endesa (PK) (USOTC:ELEZY)
Historical Stock Chart
From Feb 2025 to Mar 2025 Click Here for more Endesa (PK) Charts.
Endesa (PK) (USOTC:ELEZY)
Historical Stock Chart
From Mar 2024 to Mar 2025 Click Here for more Endesa (PK) Charts.