Italy’s biggest utility Enel is in advanced talks to sell a stake in its grid services unit to private equity firm CVC in a deal that could be signed in the next few days.
CVC, which you can meet the Italy Private Equity Conference May 2023, would buy a stake of 50% in Enel’s Gridspertise unit, one of the sources told Reuters.
The sale is part of Enel’s broader strategy dubbed ‘stewardship business model’ under which the Italian group aims to attract investments from partners to jointly develop some of its businesses in the areas of renewable energy, electrification or services.
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Gridspertise, which was set up last year, offers digital grid services to power distributors in Italy and abroad.
The unit manages activities related to digital meters and intelligent grid services to help its customers deal with the increasing amounts of power generated from intermittent renewable energy sources.
The unit mainly targets markets in Europe and Latin America, where Enel already has extensive business, but will also look to expand in North America and Asia-Pacific.
Source: Reuters
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