Enel Wants to Sell 50% of its African Renewable Business

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  • Italian energy giant Enel, is looking for a financial partner to buy as much as 50% of its African renewable business as the Italian energy giant looks to extend wind and solar power projects across the continent.
  • Enel Green Power currently has sites in South Africa, Morocco and Zambia as part of an international expansion that also includes investments in Asia.

Bloomberg has reported that Italian energy giant, Enel wants to sell a 50% stake it is African operations to a suitable partner. The strategy was adopted before the COVID-19 outbreak.

The Italian company is building its future around green energy, with plans to increase its renewable capacity to 60% by 2022. Enel is adding as much as 3.6 gigawatts of new capacity in recently accessed and new markets within the next two years, mainly in Africa and Asia according to the Bloomberg report.

Author: Bryan Groenendaal


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