Italy's Terna considers bid for 1.5 bln euros of power assets - Bloomberg News

Acea SpA

09/02/2024 19:34

Feb 9 (Reuters) - Italy's power grid operator Terna
 TRN.MI  is mulling a bid for high-voltage assets worth as much
as 1.5 billion euros ($1.6 billion), Bloomberg News reported on
Friday citing an internal document and people familiar with the
matter.
    The assets are mostly owned by utility provider Enel's
 ENEI.MI  distribution unit and by Rome-based Acea  ACE.MI , the
report added.
    The company carried preliminary studies to purchase more
than 500 kilometers (310 miles) of high-voltage power-lines and
about 2,200 electricity substations, the report said, adding
that the considerations were at an early stage and does not
guarantee a transaction.
    Terna said in a statement that no negotiations have been
initiated for any divestitures or acquisitions of assets.
    Enel and Acea were not immediately available for a comment.
    Terna in March last year had announced plans to invest more
than 21 billion euros in the next 10 years in speeding up energy
transition and reducing Italy's dependence on foreign supplies.
    Italy in November had approved a decree to boost its energy
security and renewable power production, with its minister for
ecological transition saying the package was expected to trigger
27.4 billion euros in investments.
    

($1 = 0.9271 euros)

 (Reporting by Angela Christy, additional reporting by Gursimran
Kaur in Bengaluru; Editing by Shilpi Majumdar)
 ((AngelaChristy.M@thomsonreuters.com;))