Enel eying U.S. market for grid business

 Enel eying U.S. market for grid business

A logo of Italian multinational energy company Enel will appear at its headquarters in Milan, Italy, February 5, 2020. REUTERS/Flavio Lo Scalzo/File Photo

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MILAN, May 16 (Reuters) – Enel of Italy (ENEI.MI) is looking to the United States for expanding its business on power distribution grids as it continues with plans to expand its digital footprint.

“I personally want to have a grid in the U.S. … it makes sense for us,” global infrastructure and networks group head Antonio Cammisecra said Monday.

Cammisecra said he also wanted to have another network in central and northern Europe, but added that there was nothing on the table right now.

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Europe’s largest utility distributes electricity through a network of more than 2.2 million kilometers to more than 75 million end users.

It has grids in eight countries and plans to invest 44% of the 170 billion euro cost allocated by 2030 in the networks to get its clients to 86 million.

Europe’s major utilities are investing heavily to consolidate and digitize their grids for the future of clean energy, electric vehicles and mass electrification.

Speaking at a conference about the future of digital power networks, Cammisecra said the Gridspertise group’s new grids service unit will focus on the U.S. market that could represent a “huge opportunity” for the utility. in Italy.

Enel set up Gridspertise last year to offer digital grid services to power distributors to help them upgrade networks and manage the growing amount of power generated from the spread -distributed sources of renewable energy. read more

Cammisecra rejected the idea of ​​a bourse listing for the unit and said the group was looking for a partner to take over 50% of the business. He did not say how much the unit would cost.

Enel also said it has launched the association “Open Power Grids” to bring together network operators, manufacturers, research institutions to share and develop standards and technologies to help meet net needs. zero carbon emission.

“We think the partnership is important and that we can’t achieve our goal alone,” said Enel Chief Executive Francesco Starace.

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Edited by David Evans

Our Standards: The Thomson Reuters Trust Principles.

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