Enel, storage is worth a billion. Fund offers for 49% are expected
Fund offers are about to arrive to acquire 49% of Enel's shares, valuing the company's entire storage sector at up to one billion euros. The main contenders include Sosteneo (Generali), InfraVia and Dif (Cvc). Mf writes it. Enel, following its strategy of focusing on investments with higher returns and lower risk, is focusing its attention on assets related to energy storage. With the support of advisors Mediobanca and Bnp Paribas, the group is ready to receive offers for the division that manages storage systems for renewable energy in Italy until 2026, with a portfolio estimated at 12 billion euros. This approach aims to nationalize investments, favoring those with greater profitability and lower risk.
Meanwhile, Enel has proceeded with the sale of a geothermal portfolio in the United States for 270 million euros, further contributing to debt reduction. Furthermore, the group is in negotiations with several international investors for the sale of a portfolio of renewable assets in the United States, with an overall valuation estimated between 800 million and one billion euros. Interested parties include Generali's Sosteneo, the French fund InfraVia and the Dutch Dif, recently acquired by the British fund CVC.
The sale of the geothermal portfolio and the upcoming sale of renewable assets reflect Enel's strategy to focus on the most profitable and strategically important activities. These movements, together with debt reduction, indicate prudent financial management by the group, which has the dual objective of maintaining control of key activities and valorising the remaining shares. With debt under control, Enel can now carefully evaluate which business to enhance and to what extent, considering the change in perspective compared to the previous administration.
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