2005-2007: refocusing and internationalization
2005: The acquisitions in Slovakia and Romania and the sale of Terna
- In February 2005, Enel acquired 66% of the electricity utility
Slovenské Elektrárne (SE), the largest electricity producer in Slovakia
and the second in Central-Eastern Europe, with a 7.000 MW capacity, equivalent
to half of what Enel had to divest in Italy with the Genco. This is one of the
largest Italian acquisitions abroad, worth 840 million euros.
In April, Romanian companies Electrica Banat and Electrica
Dobrogea have also been purchased. Together they represent nearly 20% of
the market for electricity distribution and sale in Romania, with over
1.400.000 customers, a number of customers similar to the one Enel yielded in
Italy to the formerly municipal companies to favour the liberalization of the
electricity distribution market.
Between May and September, as required by law, Enel sells all Terna shares;
an act which guarantees the complete independence of the national transmission
system and the absolute impartiality in market access for all operators. In the
same year Enel issues on the market bonds worth one billion euros.
2006: expansion and international growth - In 2006, closing for 66%
of Slovenské Elektrarne is completed, Enel wins the race for the
electricity network in Bucharest, acquires 98 MW of hydroelectric power
in Brazil and strengthens its presence in Bulgaria, consolidating
control of Maritza East III.
In the same year, Enel signed an agreement for the construction of new
renewable energy installations in Spain for 850 million Euros and purchased a
63 MW wind project in Texas from.
The acquisition of 49,5% of Russian trader RusEnergoSbyt (Res) is
concluded, and in November the second 450 MW installation of the combined cycle
power station of St. Petersburg begins operation.
In December, the exit from the telecommunications sector is complete, with
the transfer of 26.1% stake of Weather, a company which in turn owns the entire
share capital of Wind. It is the final action in the strategy of
refocusing on core business.
In the same month Enel presented an environmental plan with few
parallels in the world: Enel plans to invest over four billion Euros over five
years for renewable energy and research and application of better technologies
to reduce emissions. The goal is to produce energy at low cost, environmentally
friendly and help reduce the risks of climate change: once fully operational,
it will kille down CO2 emissions into the atmosphere by four million tons per
year.
