SAO PAULO: Italian energy company Enel SpA is planning to invest 1.8 billion euros ($2.12 billion) in Brazil before acquisitions over the next three years, with an emphasis on distribution networks, executives told a Brazilian newspaper.
In an article published on Wednesday in Brazil's Valor Economico, executives said they were planning to invest about 1.5 billion euros in distribution networks and 300 million euros finishing renewable energy projects under construction in the country. That would make up slightly over 10 percent of the company's global investments over that period.
Enel CFO Alberto de Paoli told the paper that the company is interested in some distribution units being sold off by state-run electricity company Centrais Eletricas Brasileiras SA, commonly known as Eletrobras.
In particular, the company is interested in distribution units in the northeastern states of Alagoas and Piau?, near distribution operations that Enel controls in the state of Cear?, he said.
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