Romania: ENEL to invest in distribution instead of assets sale

, SEE Energy News

ENEL halted the decision to sell assets in Romania and instead of assets sale will focus on further development of the market position and will steer its investments into distribution.

Enel has officially announced that it will sell assets in Romania, as adapted to the new strategy of the group, said Francesco Starace, CEO of Enel, confirming thus the previously media posts in Romania.

“Romania fits our strategy because it is about distribution,” said Starace, thus motivating the group’s decision to withdraw Romania from the list of assets held for sale, both now and in the next five years.

Originally businesses in Romania were included in the strategy of selling assets worth five billion, of which assets worth about two billion is already in the process of being sold.

Enel has identified assets to be placed at auction for two billion and will soon have to complete and final list for assets valued at one billion euros.

The group’s strategy for mature markets, including Europe, aimed at developing digital distribution networks.

“We will invest in distribution digitized and new services for customers. Emerging markets focus will be on renewable energy and technological development will allow its cheaper, “said Starace.