Enel to invest €1.15 bln in Argentina

LONDON, November 22, 2017 – Multinational energy company Enel will invest EUR 1.15 billion in Argentina through 2022, company CFO Alberto de Paoli told investors on Tuesday.

Giving a presentation at the 2017 Capital Markets Day in London, the executive said that the investment would mainly go towards electricity generation and distribution. Paoli also said that one of Enel’s objectives was to reduce power cuts by 40%, bringing up the quality of its service.

Speaking at the same event, global executive director Francesco Starace said that the company was interested in renewable energy projects in Argentina.

Enel has several subsidiaries operating in Argentina’s power sector. Its generating companies include Costanera, El Chocón and Central Dock Sud. Additionally, the Italian firm owns power distributors Edesur and Enel Green Power, as well as transmission businesses Yacylec, Transmisión del Mercosur, Enel Trading Argentina and Transportadora de Energía.

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