Italy’s Enel May Exit Algeria’s Upstream

Italy’s Enel may follow RWE as the next European power utility to sell off interests in upstream assets in North Africa. The company is considering a sale of assets that would generate up to €1bn ($1.1bn), according to a Bloomberg report.

The company’s key upstream assets are in Algeria, where the firm has aggressively expanded in recent years.

A spokeswoman for Enel declined to comment on the report. However, she reiterated the company’s plan to sell off assets totaling €5bn in the next four years. This entails projects valued at €2bn and already in execution, and another €2bn worth of assets already identified. The remaining €1bn will consist of extra assets that will be pinned down in the next years.


DON'T HAVE AN ACCOUNT?


NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?

By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.

UPGRADE