Italy’s Enel May Sell Russian Assets

Enel, an Italian energy corporation, said that it has inked agreements to sell 56.43 percent of Enel Russia shares to Russian buyers. According to the corporation, the purchase is worth €137 million and might be completed by the end of September.

Enel controls 56 percent of Enel Russia Holding, which runs three 5.7 GW regional powers stations and two wind power plants in Russia. According to Bloomberg Intelligence, Enel Russia’s portion of Enel’s overall gross operating profit is little over 1%. Enel is Italy’s largest energy corporation, with operations in more than 30 countries.

In 2020, the company was first among Europe’s top 20 utilities in terms of market capitalization. S&P Global Market Intelligence put the company’s worth at €57.99 billion.

source: reuters.com

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