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Enel, Renault To Sign Electricity Deal For Cars

Italy's Enel SpA (ENEL.MI) and France's Renault SA (RNO.FR) will sign a deal Friday for the supply of electricity to power cars, a person familiar with the matter said Thursday. The accord will be announced Friday as part of the Italy-France summit scheduled in Paris, the person said.
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Πεμ, 8 Απριλίου 2010 - 19:32
Italy 's Enel SpA (ENEL.MI) and France 's Renault SA (RNO.FR) will sign a deal Friday for the supply of electricity to power cars, a person familiar with the matter said Thursday.

The accord will be announced Friday as part of the Italy-France summit scheduled in Paris, the person said.

Italian Prime Minister Silvio Berlusconi and French President Nicolas Sarkozy are slated to meet Friday in Paris , with corporate leaders from the two countries expected to sign a bunch of deals, especially in the energy sector.

Italy and France intend to broaden their nascent agreement to collaborate in the field of nuclear energy, and will announce the inclusion of Finmeccanica SpA's (FNC.MI) Ansaldo Nuclear unit in their venture, officials from both countries have said.

The officials confirmed that Ansaldo Nucleare would be given a role in the existing Enel and Electricite de France SA (EDF.FR) venture, which also includes France 's Areva SA (CEI.FR).

The Enel and Renault accord entails providing charging stations for electric-run cars, said the person.

The deal comes as utilities look to tap into this expanding sector. Carmakers are rushing to develop cars powered by electricity or alternative fuels like hydrogen as they are pressured by regulators and customers to reduce CO2 emissions and reduce reliance on oil.

Renault reckons that 10% of the global automobile market will consist of electric vehicles by 2020 and wants to get a head start on its competition by investing EUR4 billion in the technology along with its Japanese alliance partner Nissan Motor Co. (7201.TO).

Renault and Nissan Wednesday signed a strategic alliance with Germany 's Daimler AG (DAI). Under the deal, Renault and Daimler will jointly develop the next generation of Renault's compact Twingo car and Daimler's Smart Fortwo, including all-electric models.

Last year, Enel teamed up with Daimler for a joint pilot project in which more than 100 electric cars in Rome , Pisa and Milan will be recharged by a network of more than 400 stations in the three cities.

Daimler and German utility RWE AG (RWE.XE) have a similar agreement in Berlin . RWE has said it expects there will be around 500,000 electric cars on German roads by 2015 and around 2.5 million electric cars by 2020.

Currently, battery-driven electric cars are still expensive as a result of the high cost of the batteries, making them less appealing to drivers.

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