BREAKING NEWS
This content is not available in your region

Economy

Iren makes non-binding bid for Aosta Valley's hydroelectric assets

Access to the comments Comments
By Reuters
Text size Aa Aa

MILANO (Reuters) – Italian utility Iren on Tuesday made a non-binding offer to tie-up with regional peer Compagnia Valdostana delle Acque (CVA) to create one of Italy’s biggest hydroelectric players, a source close to Iren said.

CVA, based in Italy’s Aosta Valley Region, has almost 1,000 MW as well as solar, wind and power distribution assets.

The proposal involves merging Iren’s renewable assets with CVA to create a joint-venture that would be equally controlled by Iren and the Aosta Valley Region, the source said.

(Reporting by Giancarlo Navach, written by Stefano Rebaudo, editing by Valentina Za)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.