Italian electricity utility Enel SpA said Wednesday it signed a
memorandum of understanding with Dolomiti Energia to create a new
company to supply hydroelectric power in the Alpine province of Trento
in northern Italy.
Enel will cede assets to Dolomiti Energia for EUR561 million.
"This is an important agreement for the development of an
invaluable source of renewable energy, contibuting to the fight against
climate change and the energy security of the country," said Enel Chief
Executive Fulvio Conti in a statement.