Enel sets EUR 630 million for investment by 2019

In late November, a financing programme for energy distribution networks in Romania was announced by Italian-based company Enel SpA to be implemented by 2019, according to a report published on the Diplomat’s portal.

The company’s aim is to increase its customer base from 2.7 million to 2.9 million consumers. “Through the investment we have made in green energy we have achieved our targets in terms of the number of green certificates,” said Francesco Starace, head of the group. “We don’t want to create an excess. I would say that we are in balance and we are satisfied with what we have at the moment.” He expressed belief the results wouldn’t be visible sooner than 2017.

Aside from development projects, Enel is known for its legal dispute with the government in which the Italian entity was sued for damages of EUR 521 million for the 23.6% stake that the Romanian state holds in the former electricity distribution company Electrica Muntenia Sud. Enel is the largest private energy distributor in Romania, featured in three regions: South Muntenia, Dobruja and Banat, the article said.