Enel Plans to Invest $990 Million in Romanian Power Distribution

Enel SpA (ENEL), Italy’s largest utility, plans to invest about 750 million euros ($990 million) in Romania’s power distribution network in the next five years.

The Rome-based company, which operates Romania’s grid through a series of distribution and supply companies, will use the investment to improve the Balkan country’s network and install smart meters to improve efficiency from 2012 to2016, a company spokesman said in an e-mailed message.

Enel is investing in developing markets like Romania, Russia and Latin America to offset weaker performance in mature economies such as Italy and Spain. The company also plans to have 500 megawatts of wind power installations in Romania by 2016 through its renewable energy unit Enel Green Power SpA. (EGPW).

The completion of the Mochovce nuclear power plant in Slovakia, delayed by stress tests following last year’s nuclear accident in Fukushima, Japan, will not translate into additional costs, Enel said.

The first of the two 440-megawatt reactors will start commercial operations at the end of 2013 and the second one will follow 8 months later, according to the company, which controls 66 percent of utility Slovenske Elektrarne AS.

Source: Bloomberg (21.3.2012)