By Stephen Jewkes
MILAN (Reuters) - Italian utility Enel <ENEI.MI> expects to raise up to 1.5 billion euros (1.34 billion pounds)from asset sales in the second half of the year to help cut debt after a series of acquisitions.
Speaking to analysts on first half results, Enel CFO Alberto De Paoli said disposals would include renewable energy assets in Mexico and Brazil as well as coal and biomass operations.
"Overall we could raise between 1.2 and 1.5 billion euros," he said.
In June, Europe's biggest utility agreed to spend almost $1.5 billion to buy a majority stake in Brazilian power company Eletropaulo <ELPL3.SA> and also said it could spend more than $2.3 billion to buy a Latin American fiber company.
Enel, which controls Spanish utility Endesa <ELE.MC>, is focusing on grids and renewable energy to drive growth, especially in emerging markets and North America.
The group, the biggest private energy player in South America, owns extensive generation and distribution assets in Brazil. Last year it bought distributor Celg-D for $647 million.
"I don't see appetite for further acquisitions in Brazil at this stage," Enel CEO Francesco Starace told analysts.
Earlier on Tuesday, Enel said net debt at the end of June rose 11.2 percent from December to 41.6 billion euros mainly due to acquisitions and dividend payments.
The state-controlled utility stuck to its full-year targets after core earnings in the first six months rose 2.6 percent, boosted by higher margins at its green energy business.
Enel, which is one of the world's biggest green energy players, is targeting ordinary core earnings for the year of around 16.2 billion euros.
($1 = 0.8547 euros)
(Reporting by Stephen Jewkes, editing by Valentina Za and Emelia Sithole-Matarise)
