Enel is hoping to sell $1bn worth of power assets this year, as part of a four year disposal target.
That means EUR1bn out of EUR6bn by 2019 according to CFO Alberto De Paoli who spoke at a conference call delivering Q1 results on Monday.
De Paoli said the group intended to sell a stake of around 20 per cent in a regasification plant in Chile, a coal-fired power plant in Russia, a gas-fired generating unit in Belgium and a business in France. It will also sell some assets of Enel Green Power.
“We are currently active on some minor disposals,” De Paoli told the press call.
Weak power prices, falling demand and a shift towards renewable power has seen large utilities react similarly across Europe.
Meanwhile Italy’s largest utility is stepping up investments to boost its grid and renewable energy businesses around the world.
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