BUCHAREST (Romania), March 15 (SeeNews) – Italian power group Enel said on Tuesday it plans to invest 800 million euro ($1.1 billion) in Romania over the 2011-2015 period mainly in strengthening efficiency processes and expanding its customer base.
Overall, Enel plans to undertake investments of an estimated 31 billion euro in its operations between 2011 and 2015, it said in its 2010 financial report.
Enel also said it is the second operator in power distribution in Romania with a 26% market share and 2.6 million clients. It operates in Romania through its electricity distributors Enel Energie, Enel Energie Muntenia, Enel Distributie Dobrogea, Enel Distributie Banat and Enel Distributie Muntenia.
The group's electricity volumes distributed outside Italy increased by 21% to 184.6 terra watt hours (TWh) last year, partially due to a 6.0% rise in the volumes transported by the distribution companies in Romania, which benefited from stronger demand for electricity.
Also on Tuesday Enel said it has reached an agreement with U.S.-based ContourGlobal to sell its 73% stake in coal-fired power plant Maritsa East 3, located in Romania's southern neighbour Bulgaria, for 230 million euro.
The group’s net income rose 21.4% to 4.4 billion euro last year, while its total revenue increased by 14% to 73.4 billion euro.
($ = 0.7202 euro)
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