©THE HEREN REPORTS - Italy�s Enel to commit EUR 2 billion in Romania
Italian incumbent Enel plans to invest an additional EUR 2 billion in the Romanian distribution sector over the next 15 years, according to a statement from the company today (30th May). Enel paid EUR 820 million to acquire the distribution company Electrica Muntenia Sud, winning the tender in June 2006, and is set to invest EUR 1 billion in modernising its network. The other EUR 1 billion would be invested in regional distribution companies Enel Electrica Banat and Enel Electrica Dobrogea, which Enel already owns. Enel c.e.o. Fulvio Conti said: “We made an offer for Braila; we are interested in developing the nuclear plant of Cernovoda, and we are willing to expand also in renewables,” Conti said the bulk of renewables investment would be in wind farms. The company acquired 66% of Slovenske Elektrarne in Slovakia in April and also has a presence in Bulgaria with the Maritza III power station. It has a stake in a major Russian power trading company and operates a 450 MW combined cycle plant serving St Petersburg. (THE HEREN REPORTS - EDEM 11103 / 30 May 2007)

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