Privately-held EPH will purchase a total generation capacity of approximately 4,500MW which include 600MW coal-fired power plant in Sardinia (Fiume Santo) and approximately 3,900MW of gas-fired power capacity across six power plants located on the Italian mainland and in Sicily.
Scheduled to be completed in the second quarter of 2015, the transaction is subject to the approval of the European Union competition authority.
E.ON CEO Johannes Teyssen said: "Our conventional generation activities in Italy are high performing assets with a climate-friendly and diversified generation fleet.
"They are a key element of energy security in Italy and I am convinced that the new owner will continue to invest into the energy system of the country. We continue to assess a possible divestment of our other businesses in Italy as well."
EPH CEO Daniel Kretínský said: "Our strategy is long term and development focused. We look forward working on this goal together with employees, trade unions and other stakeholders."
The vertically integrated energy group, EPH owns and operates predominantly regulated and contracted energy assets in the Czech Republic, Slovakia, Germany and Poland.
