Italy's Enel completes hydro sale to Dolomiti

MILAN, July 25 (Reuters) - Italian power company Enel SpA (ENEI.MI) sold 51 percent of its Hydro Dolomiti Enel Srl (HDE) unit to Dolomiti Energia SpA for 333 million euros ($522.8 million) on Friday, completing a deal signed in April.

The companies will use HDE for joint development of hydroelectric power in the Trento region of northeastern Italy, Enel said in a statement.

The price for the HDE stake was originally set at 563 million euros. It was reduced to take account of such items as the financial conditions of the assets transferred to HDE and estimated cash flows from Enel operations.

The assets include 20 major hydroelectric concessions and seven smaller ones with a capacity of about 1.3 gigawatts and a total annual output of 3.1 terawatts.

HDE also acquired the natural gas distributor Avisio Energia SpA from Enel. (Reporting by Ian Simpson; Editing by Quentin Bryar)