Italy's Enel spins off new firm for digital grid services - report (updated)
23/09/2021 07:17
(Adds details)
ROME, Sept 23 (Reuters) - Europe's biggest utility Enel
ENEI.MI has set up a new company dedicated to digital grid
services, which aims to have a revenue of 1.5 billion euros
($1.76 billion) by 2030, newspaper Il Sole 24 Ore reported on
Wednesday.
The spinoff, Gridspertise, will manage all activities
related to digital meters and intelligent grid services, and
will be officially presented on Thursday, according to the
report.
European utilities have sped up the adoption of new
technologies due to the effect of the COVID-19 pandemic to help
them steer critical infrastructure, including plants and grids.
The shareholding of Gridspertise could be opened up to new
investors, for a minority stake, as early as next year, the
report added.
The Italian firm's newly created company will start with
about a hundred employees but will take on more strength as it
expands operations in Spain, United States and India, the
newspaper said.
"This company is destined to invest hundreds of millions in
technology in the coming years," Enel Global Infrastructure and
Networks CEO Antonio Cammisecra was quoted as saying.
($1 = 0.8540 euros)
(Reporting by Giulia Segreti; Editing by Ramakrishnan M.)
((Giulia.Segreti@tr.com; +39.06.80307714;))