{"id":134162,"date":"2021-08-02T16:31:41","date_gmt":"2021-08-02T16:31:41","guid":{"rendered":"https:\/\/precoinnews.com\/?p=134162"},"modified":"2021-08-02T16:31:41","modified_gmt":"2021-08-02T16:31:41","slug":"italys-enel-in-late-stage-talks-to-buy-erg-assets-sources","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/italys-enel-in-late-stage-talks-to-buy-erg-assets-sources\/","title":{"rendered":"Italy's Enel in late-stage talks to buy ERG assets – sources"},"content":{"rendered":"

MILAN (Reuters) – Enel is in late-stage talks to buy a set of assets from Italian renewable energy group ERG that could be worth around one billion euros ($1.2 billion), two sources said on Monday.<\/p>

FILE PHOTO: A logo of Italian multinational energy company Enel is seen at the Milan headquarters, Italy, February 5, 2020. REUTERS\/Flavio Lo Scalzo\/File Photo<\/figcaption>

\u201cThe talks could be wrapped up in coming days,\u201d one of the sources said, cautioning a series of issues still needed to be ironed out.<\/p>\n

ERG, one of Europe\u2019s leading wind power players, is selling hydroelectric assets along with some gas-fired power plants to speed up the process to create a pure wind and solar player.<\/p>\n

Last Thursday Enel CEO Francesco Starace declined to comment when asked about the utility\u2019s interest in the assets during a conference call on earnings results.<\/p>\n

Enel, Italy\u2019s dominant hydroelectric player with almost 12.5 gigawatts of capacity, could bring some of its own renewable assets to the table to clinch the deal, the second source said.<\/p>\n

But the source added the option was still open-ended.<\/p>\n

ERG and Enel declined to comment.<\/p>\n

ERG operates 527 megawatts of hydroelectric plants in Italy that generate core earnings of 87 million euros and has 480 MW of gas-fired capacity.<\/p>\n

In May it pledged to spend 2.1 billion euros over the next five years to help add 1.5 GW of renewable capacity in Italy and abroad.<\/p>\n

France is ERG\u2019s biggest foreign market but the group is looking to expand in other countries like Spain and Sweden.<\/p>\n

Enel, which controls Spanish utility Endesa, has a sizable renewable energy portfolio in Spain.<\/p>\n

Sources told Reuters in March that Mediobanca and Rothschild were advising ERG in a sale that had drawn interest from utilities like A2A, Iren, Ascopiave and Engie as well as infrastructure investors.<\/p>\n

Last week Italian daily MF said Enel was in exclusive talks to buy the assets in tandem with investment group Infracapital.<\/p>\n

($1 = 0.8467 euros)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

MILAN (Reuters) – Enel is in late-stage<\/p>\n","protected":false},"author":3,"featured_media":134161,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"\nItaly's Enel in late-stage talks to buy ERG assets - sources - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/italys-enel-in-late-stage-talks-to-buy-erg-assets-sources\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Italy's Enel in late-stage talks to buy ERG assets - sources - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"MILAN (Reuters) – Enel is in late-stage\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/markets\/italys-enel-in-late-stage-talks-to-buy-erg-assets-sources\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-02T16:31:41+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/08\/Italys-Enel-in-late-stage-talks-to-buy-ERG-assets-sources.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/markets\/italys-enel-in-late-stage-talks-to-buy-erg-assets-sources\/\",\"url\":\"https:\/\/precoinnews.com\/markets\/italys-enel-in-late-stage-talks-to-buy-erg-assets-sources\/\",\"name\":\"Italy's Enel in late-stage talks to buy ERG assets - 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