Italy's Enel sets up digital grid service company

Enel emerges as frontrunner for Italy's Mooney in joint bid with Intesa - sources
Enel emerges as frontrunner for Italy's Mooney in joint bid with Intesa - sources   -   Copyright  Thomson Reuters 2021   -  
By Reuters

<div> <p><span class="caps">MILAN</span> – Italy’s biggest utility, Enel, has set up a new company to offer digital grid services to power distributors round the world to help upgrade networks as the energy transition gathers pace.</p> <p>Gridspertise will manage all activities related to digital meters and intelligent grid services to help its clients deal with the increasing amounts of power generated from intermittent renewable energy sources.</p> <p>The spinoff will mainly target markets in Europe and Latin America, where Enel already has extensive business, but will also look to expand in North America and Asia-Pacific.</p> <p>Europe’s biggest utility manages power distribution grids in eight countries in Latin America and Europe with around 74.8 million end users. More than 40% of its core earnings came from networks last year.</p> <p>“The company will help electricity distribution companies of any size and geography roll-out integrated smart grid solutions to meet the evolving needs of grid users and electricity end-customers,” Gridspertise <span class="caps">CEO</span> Robert Denda said in a statement.</p> <p>Governments around the world are seeking to improve the digital resilience of their distribution networks as they tackle the climate crisis by using more electricity for energy.</p> <p>Earlier this year Enel said it was setting up a company to offer digital grids services.</p> <p>On Thursday Italian daily Il Sole 24 Ore said Gridspertise aimed to have 1.5 billion euro ($1.8 billion) sales by 2030 and could sell a minority stake in its capital to investors.</p> <p>($1 = 0.8540 euros)</p> <p/> </div>