Enel SpA (ENEL.MI) won't need a new capital hike to bring down its net debt, the Italian energy company's Chief Financial Officer Luigi Ferraris says in an interview published in Spain's Cinco Dias newspaper Thursday.
Enel SpA (ENEL.MI) won't need a new capital hike to bring down its net
debt, the Italian energy company's Chief Financial Officer Luigi Ferraris says
in an interview published in
Spain
's
Cinco Dias newspaper Thursday.
Ferraris says Enel in the coming two or three years will reduce its debt
through its operative cash flow as several of its current large investments
will be completed, such as the Mochovce nuclear plant in
Slovakia
.
He also says the company will continue its asset sale program with the sale of
a non-strategic power plant in Bulgaria, as well as raise money through the
upcoming initial public offering of its renewable unit Enel Green Power, to
which Ferraris has been named chairman.
"Enel Green Power could start trading in early November," Ferraris is
quoted as saying.
Spain
's
government has pre-approved between 300 megawatt and 400MW in new renewable
projects of the unit in a renewables pre-registry, he says.
Spain
will
make up a quarter of Enel Green Power's new investment, while
Italy
and
the rest of the world will account for the remainder, he adds.
Enel doesn't currently plan any further asset sales from its Spanish Endesa SA
(ELE.MC) unit, he says in the interview.
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