The recently agreed takeover of the Romanian electricity production, supply and distribution assets of the Italian Enel Group, as well as the local advanced energy services division Enel X, by Greek Public Power Corporation (PPC), leaves the group with only an energy trading company in Romania.
However, the company is reportedly on the verge of insolvency. The trading company, which was not included in the deal with PPC, finished 2021 with losses in the amount of 770,000 euros and total revenues of 1.8 million euros.
Last week, the two companies agreed the sale of all the equity stakes held by the Enel Group in Romania for some 1.26 billion euros.
The Enel Group has been a leading energy player in Romania since 2005, operating in electricity distribution and supply, as well as renewable energy, with over 500 MW managed by Enel Green Power Romania.
The Group’s Romanian distribution companies operate in three key areas of the country, namely Muntenia Sud (including Bucharest), Banat and Dobrogea, serving a total of over 3 million customers. Enel Energie and Enel Energie Muntenia are leading energy suppliers in the country, providing electricity and natural
gas. The group in Romania also operates in home services, distributed generation and energy efficiency with Enel X and in the e-mobility segment with Enel X Way.