Enel Weighs Sale of €2 Billion Energy Storage Business
- Italian utility has received non-binding bids for 80% stake
- Transaction is further step toward reducing company’s debt
A geothermal power station operated by Enel Green Power SpA, a unit of Enel SpA, in Sasso Pisano, Italy.
Photographer: Alessia Pierdomenico/BloombergThis article is for subscribers only.
Enel SpA is evaluating the sale of a majority stake in its energy storage business, in a move aimed at further reducing the company’s debt burden, according to people familiar with the matter.
Italy’s biggest utility has received non-binding bids for an 80% stake in the project, valued at around €2 billion ($2.17 billion), the people said. Under the plan, Enel would look to retain around 20% to secure governance at the unit, said the people, asking not to be named discussing confidential information.