Italian Enel creates digital network services company

A logo of the Italian energy multinational Enel can be seen at the headquarters in Milan, Italy on February 5, 2020. REUTERS / Flavio Lo Scalzo / File Photo

MILAN, September 23 (Reuters) – Italy’s largest utility, Enel (ENEI.MI), has created a new company to provide digital grid services to electricity distributors around the world to help modernize grids while the energy transition is accelerating.

Gridspertise will manage all activities related to digital meters and smart grid services to help its customers cope with the increasing amounts of electricity produced from intermittent renewable energy sources.

The spin-off will primarily target the European and Latin American markets, where Enel already has extensive activity, but will also seek to expand into North America and Asia-Pacific.

Europe’s largest utility operates electricity distribution networks in eight countries in Latin America and Europe with around 74.8 million end users. Over 40% of its base income came from networks last year.

“The company will help utilities of all sizes and in all geographies deploy integrated smart grid solutions to meet the evolving needs of grid users and end-customers of electricity,” said Robert Denda, CEO of Gridspertise, in a press release.

Governments around the world are looking to improve the digital resilience of their distribution networks as they tackle the climate crisis by using more electricity for energy.

Earlier this year, Enel announced the creation of a company to offer digital network services. Read more

Italian daily Il Sole 24 Ore said on Thursday that Gridspertise is targeting revenue of 1.5 billion euros ($ 1.8 billion) by 2030 and could sell a minority stake in its capital to companies. investors.

($ 1 = 0.8540 euros)

Reporting by Stephen Jewkes and Giulia Segreti Editing by Ramakrishnan M. and Frances Kerry

Our standards: Thomson Reuters Trust Principles.

Veronica J. Snell

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