Enel to invest EUR 200 mln in Romania up to 2019 for digitalization

Italian utility Enel will invest EUR 200 million up to 2019 in Romania, for the digitalization of the network and the equipments, according to a public presentation made on Tuesday by the group.

The investments will be in domains such as the installation of smart meters, the automatization of the stations and the workforce and clients management. Currently, 5 percent of the clients benefit from smart meters. In the first nine months of the year, Enel reached an EBITDA of EUR 266 million in Romania, a drop by 5.3 percent as a result of the production and the lower revenues from the energy distribution.

The group is present in Romania through Enel Distributie Muntenia, Enel Distributie Banat, Enel Distributie Dobrogea, Enel Energie Muntenia and Enel Energie.

At group level, Enel will spend around a quarter of the EUR 21 billion allocated for investments up to 2019 for the digitalization of the networks. It estimates in the strategic plan for 2017-2019 period that the net profit will grow in average up to 14 percent per year.

Read how Romania can have smart cities

For 2017, the group estimates a net profit of EUR 3.6 billion, over the net result of EUR 3.4 billion anticipated the last year.

Read more about

Auchan, ready for DRS: The retailer has already collected 32 million packages nationwide

read more

Georgiana Bendre