Italy’s Enel to invest $799.1 mln in its Brazil unit

12/07/2018 1:38:00 PM (GMT)

Italian electricity and gas manufacturer Enel SpA plans to infuse 702.6 million euros ($799.1 million) in Brazilian power company Enel Distribuicao Sao Paulo.

Enel revealed that the investment will focus on network digitalisation and installation of automated and remotely controlled systems, as well as boosting grid efficiency and reliability.

Enel SpA, which holds Enel Distribuicao's majority share, will open the first Enel X office in Sao Paulo early next year and it now holds Enel Distribuicao's majority shares.

The investment in Enel Distribuicao Sao Paulo will take place in the period from 2019 to 2021.

Enel SpA

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