23. Equity investments accounted for using the equity method - €1,682 million

Investments in joint arrangements and associated companies accounted for using the equity method are as follows:

Millions of euro

 

% held

Income effect

Change in consol.

Dividends

Reclassifications from/to assets held for sale

Other changes

 

% held

 

at Dec. 31, 2018

      

at Dec. 31, 2019

 

Joint arrangements

         

Slovak Power Holding

497

50.0%

(14)

-

-

-

21

504

50.0%

EGPNA Renewable Energy Partners

459

50.0%

(76)

(178)

-

(84)

16

137

20.0%

OpEn Fiber

394

50.0%

(58)

-

-

-

48

384

50.0%

Zacapa Topco Sàrl

147

21.4%

(7)

(5)

-

-

(5)

130

20.6%

Project Kino companies

79

20.0%

(21)

-

-

-

2

60

20.0%

Tejo Energia Produção e Distribuição de Energia Elétrica

72

43.8%

(7)

-

(6)

-

(1)

58

43.8%

Rocky Caney Holding

43

20.0%

4

-

-

-

(1)

46

20.0%

Drift Sand Wind Project

36

50.0%

3

-

-

-

(3)

36

50.0%

Front Marítim del Besós

37

61.4%

-

-

-

-

-

37

61.4%

Enel Green Power Bungala

40

50.0%

3

-

-

-

(43)

-

51.0%

Rusenergosbyt

35

49.5%

44

-

(41)

-

2

40

49.5%

Energie Electrique de Tahaddart

27

32.0%

2

-

(3)

-

-

26

32.0%

Transmisora Eléctrica de Quillota

12

50.0%

1

-

(5)

-

(1)

7

50.0%

PowerCrop

-

50.0%

(9)

-

-

-

9

-

50.0%

Centrales Hidroeléctricas de Aysén

-

51%

-

-

-

-

-

-

51.0%

Nuclenor

-

50%

-

-

-

-

-

-

50.0%

Associates

         

CESI

57

42.7%

7

-

-

-

(3)

61

42.7%

Tecnatom

29

45.0%

1

-

-

-

-

30

45.0%

Suministradora Eléctrica de Cádiz

10

33.5%

4

-

(3)

-

-

11

33.5%

Compañía Eólica Tierras Altas

11

37.5%

-

-

(2)

-

-

9

37.5%

Cogenio Srl

8

20.0%

1

-

-

-

2

11

20.0%

Other

106

 

-

-

(15)

-

4

95

 

Total

2,099

 

(122)

(183)

(75)

(84)

47

1,682

 

   

Income effect includes the positive and negative income figures recognized by the companies in proportion to the share held in these companies by the Enel Group and mainly concerns the EGPNA (now Enel North America) repurchase of 13 companies that own seven operating renewable energy plants from the EGPNA REP joint venture.

The change in the scope of consolidation therefore mainly concerns this operation, as well as the subsequent sale by EGPNA (now named Enel North America) of 30% of its stake in the EGPNA REP joint venture, which owns a number of companies developing wind power projects (the Athena operation, which resulted in a capital loss of €25 million) and the reduction in the share held in the special-purpose vehicle Zacapa Topco Sàrl, which holds 100% of Ufinet International, a leading Latin American wholesale operator of fiber-optic networks.

The reclassification of €84 million to assets held for sale refers to the share held by EGPNA REP Holding LLC in the companies developing hydroelectric projects.

Other changes mainly include the pro rata changes in the OCI reserves or other changes recognized directly in equity. In particular, €21 million for Slovak Power Holding refers to OCI changes on cash flow hedge derivatives, while €48 million for OpEn Fiber is attributable to an increase in reserves for future capital increases by shareholders (€66 million) and OCI reserves for cash flow hedge derivatives (-€18 million). The negative impact of €43 million recognized by the Enel Green Power Bungala companies in Australia refers to the fair value remeasurement of the PPAs signed with customers.

The following tables provide a summary of financial information for each joint arrangement and associate of the Group not classified as held for sale in accordance with IFRS 5.

Millions of euro

Non-current assets

Current assets

Total assets

Non-current liabilities

Current liabilities

Total liabilities

Shareholders’ equity

 

at Dec. 31, 2019

at Dec. 31, 2018

at Dec. 31, 2019

at Dec. 31, 2018

at Dec. 31, 2019

at Dec. 31, 2018

at Dec. 31, 2019

at Dec. 31, 2018

at Dec. 31, 2019

at Dec. 31, 2018

at Dec. 31, 2019

at Dec. 31, 2018

at Dec. 31, 2019

at Dec. 31, 2018

Joint arrangements

              

Slovak Power Holding

10,182

9,295

702

922

10,884

10,217

6,385

5,643

755

981

7,140

6,624

3,744

3,593

OpEn Fiber

3,070

2,084

421

313

3,491

2,397

1,894

1,043

828

565

2,722

1,608

769

789

Zacapa Topco Sàrl

1,376

1,343

99

81

1,475

1,424

753

669

73

65

826

734

649

690

Rusenergosbyt

3

3

144

116

147

119

-

-

131

112

131

112

16

7

Tejo Energia Produção e Distribuição de Energia Elétrica

146

203

132

163

278

366

25

72

85

126

110

198

168

168

Energie Electrique de Tahaddart

77

91

20

11

97

102

6

8

8

9

14

17

83

85

Associates

              

CESI

198

75

13

68

211

143

21

13

-

55

21

68

190

75

Tecnatom

62

51

64

67

126

118

35

29

24

24

59

53

67

65

Suministradora Eléctrica de Cádiz

19

6

66

70

85

76

33

26

20

21

53

47

32

29

Compañía Eólica Tierras Altas

4

6

23

27

27

33

2

3

2

2

4

5

23

28

Millions of euro

Total revenue

Income before taxes

Net income from continuing operations

 

at Dec. 31, 2019

at Dec. 31, 2018

at Dec. 31, 2019

at Dec. 31, 2018

at Dec. 31, 2019

at Dec. 31, 2018

Joint arrangements

      

Slovak Power Holding

2,600

2,587

172

205

131

103

OpEn Fiber

186

114

(157)

(162)

(117)

(127)

Zacapa Topco Sàrl

208

91

(22)

(21)

(32)

(25)

Rusenergosbyt

2,548

2,378

111

88

89

70

Tejo Energia Produção e Distribuição de Energia Elétrica

145

234

21

30

14

21

Energie Electrique de Tahaddart

37

35

9

7

6

5

Associates

      

CESI

111

114

9

11

6

7

Tecnatom

104

97

2

-

2

-

Suministradora Eléctrica de Cádiz

18

10

11

6

11

6

Compañía Eólica Tierras Altas

12

12

2

4

1

3