UPDATE 1-Enel aims for 1 bln euros in asset sales in 2016

martes 10 de mayo de 2016 07:03 GYT

(Recasts lead, adds CFO comments, broadband, results)

By Stephen Jewkes

MILAN May 10 (Reuters) - Italy's biggest utility Enel expects to complete asset sales this year worth around one billion euros ($1.1 billion), a sixth of its four-year disposal target, CFO Alberto De Paoli said on Tuesday.

Enel, which controls Spanish utility Endesa, is looking to sell as much as 6 billion euros in assets up to 2019 to help to fund growth.

"We are currently active on some minor disposals," De Paoli said in a conference call following Enel's first-quarter results, which came out on Monday.

Big utilities across Europe have been trying to sell off assets and rejig business models in response to weak power prices, falling demand and a shift towards renewable power.

Enel's CFO said the group intended to sell a stake of around 20 percent in a regasification plant in Chile, a coal plant in Russia, a gas-fired generating unit in Belgium and a business in France.

It will also sell some assets of Enel Green Power, he said.

Enel, which earlier this year folded its green business into group operations, is stepping up investments to boost its grid and renewable energy businesses around the world.   Continuación...