November 3, 2016 / 7:17 PM / 2 years ago

Enel to invest more in Latam grids, broadband abroad

PARIS, Nov 3 (Reuters) - Leading Italian utility Enel plans to invest more in power networks in Latin America and Europe, in renewable energy in North and South America, Europe and Africa, and in telecom broadband in Italy and abroad, its chief executive said on Thursday.

Enel CEO Francesco Starace told Reuters he expects infrastructure investor F2i will want to exercise its option to buy up to 30 percent of Enel Open Fiber (EOF), Enel’s broadband telecom joint venture with Italian state lender Cassa Depositi e Prestiti (CDP).

“It is likely they will go along with us, and if they will not we have a long list of infrastructure investors that would step in their place,” Starace told Reuters on the sidelines of the New York Times Energy for Tomorrow conference in Paris.

Ahead of an Enel strategy briefing on Nov. 22, he also said Enel is looking at small to medium size acquisitions in power networks in emerging countries.

“We have a big presence in networks in Latin America but we want to grow more,” he said. (Reporting by Geert De Clercq; Editing by Alexandra Hudson)

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