Edison SpA (EDN.MI), a leading Italian energy company, plans about EUR1 billion of investment in Turkey, Greece and the Balkans through 2014 as part of its plan to expand in the southeastern Mediterranean area.
The roughly EUR1 billion investments is part of Edison's 2009-2014 growth plan for Turkey, Greece and the Balkans, Chief Executive Umberto Quadrino said at a conference in Istanbul Thursday.
Quadrino's comment was confirmed by an Edison spokesman.
The Milan-based company is expanding into countries which need to boost their energy supply to meet surging demand for electricity and natural gas. Edison is eyeing investments in Turkish thermal power plants as well as hydroelectricity.
Last summer, Edison signed an agreement establishing a 50-50 joint venture with Hellenic Petroleum SA (ELPE.AT) to operate in the Greek power market and use this as a launching pad for the Balkan.