Moscow, October 14th, 2010 Today Enel SpA (Enel) and IDGC Holding signed a Memorandum of Understanding aimed at mutual co-operation and development in the field of innovative smart grid technologies. The document was signed by Carlo Tamburi, Head of the International Division for Enel and Nikolay Shvets, Director General for IDGC Holding.
The two companies will carry out joint projects related to the development and implementation in Russia of smart grids, including smart meters. Over more, the parties are considering various options of cooperation in grid asset management, including the possibility of establishing a joint company,.
Enel and IDGC Holding will also exchange best practices with regard to the design, development of a standardized technical policy, unification and implementation of quality management standards.
Within three months from the signature of the Memorandum, Enel and IDGC Holding will establish a coordination committee to ensure organization and coordination of their efforts.
IDGC Holdings top priorities include the renovation and modernization of Russias electricity distribution grid sector. The strategic cooperation between IDGC Holding and Enel is expected to contribute to the successful achievement of these goals.
Carlo Tamburi, Head of Enel International Division commented With the signature of this Memorandum with IDGC Holding we are consolidating our expertise on smart grid technologies. This collaboration with a company which represents the backbone of Russias electricity distribution allows the exchange of best practices as well as the implementation of joint R&D projects.
With 32 million digital meters installed in Italy and 13 million currently being deployed in Spain through its subsidiary Endesa, Enel ranks the highest number of meter installation in the world.
Enel is Italys largest power company and Europes second listed utility by installed capacity. It has a presence in 40 countries over 4 continents with over 95,000 MW of net installed capacity and sells power and gas to around 61 million customers.
Enel has the largest number of shareholders of any Italian company, at about 1.2 million retail and institutional investors in 2009. Enel in Russia is a vertically integrated player active in power generation, distribution and trading. Through its 19.6% in Severenergia, Enel has also a presence in gas upstream.