Italian utility group Enel will sell its Romanian assets by the end of next year, as part of a larger plan to cut debt and focus on six main markets, the group said on Tuesday, according to Euractiv.
Romanian and Greek media reported that Greece’s PPC (Public Power Corporation) wants to buy Enel’s Romanian assets. PPC is led by Georgios Stassis, who was the country manager of Enel Romania between 2016 and 2019.
Enel has distribution networks in three main areas of Romania, including coverage of the capital city, Bucharest. It owns two of the country’s main energy suppliers and is also one of the leading renewable energy producers, with 534 MW installed in 12 solar and wind power projects.
In Romania, Enel employs more than 3,000 people and it has around three million customers. Enel wants to end 2023 at a net debt level of €51-52 billion, from €69 billion at the end of September.
Besides the operations in Romania, the group plans to sell assets in Argentina and Peru and potentially the gas operations in Spain.
Business in some territories, such as Australia and Greece, are expected to be added to the Stewardship perimeter, Enel said in its 2023-2025 strategic plan, published Tuesday. At the end of 2023, Enel plans to have a streamlined business focused on six core markets: Italy, Spain, the US, Brazil, Chile, and Colombia.