Italy's largest utility group Enel is said to be considering integrating its renewable energy subsidiary Enel Green Power (EGP), of which it already owns 69%. The move would create a new company with an estimated €1bn (£770m) in annual revenue, and could help the Italian government meet its target for reducing greenhouse gas emissions by 50% from 1990 As clean energy generation and technologies mature, drawing EGP into the centre of the group would help to diversify Enel’s revenue.
Italy's largest utility group Enel is said to be considering integrating its renewable energy subsidiary Enel Green Power (EGP), of which it already owns 69%. The integration, which could be worth up to $3.3bn, would suggest that Enel has high hopes for renewable energy to boost the group's profits and dividends over the next five years. As clean energy generation and technologies mature, drawing EGP into the centre of the group would help to diversify Enel’s revenue.