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Enel joins bidders for Renvico wind assets in Italy, France

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By Reuters
Enel joins bidders for Renvico wind assets in Italy, France
FILE PHOTO: The new logo of Italy's biggest utility Enel is seen inside its flagship store in downtown Milan, Italy, May 4, 2018. REUTERS/Stefano Rellandini   -   Copyright  Stefano Rellandini(Reuters)
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MILAN (Reuters) – Italy’s biggest utility Enel <ENEI.MI> has joined a race with at least five other bidders to buy the Renvico wind farm portfolio in Italy and France being sold by a Macquarie-run infrastructure fund, three sources said on Monday.

Renvico, which manages wind farms in Italy and France with a total capacity of around 334 megawatts, is worth around 400 million euros, two of the sources said.

The fund, advised by Rothschild, is expected to choose an exclusive bidder – or exclusive bidders, if the assets are sold separately – this week, with a final deal expected in January, two of the sources said.

Besides Enel, other bidders include Italian renewable energy group Erg <ERG.MI>, investment fund Tages, France’s Engie <ENGIE.PA> and regional clean energy company Dolomiti Energia, sources said.

The sources said Erg was interested in the French assets only while Tages was looking to buy the Italian farms.

The companies declined to comment or were not immediately available for a comment. Macquarie did not immediately respond to a request for comment.

Italy’s biggest regional utility A2A <A2.MI> has previously said it is bidding for Renvico.

(Reporting by Stephen Jewkes and Giancarlo Navach; Editing by Jane Merriman and Jan Harvey)

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