Power utility PPC has entered exclusive talks with Italy’s ENEL for the acquisition of the latter’s portfolio in Romania, a lucrative prospect offering networks in three Romanian regions, three million customers in the country’s retail electricity market, 550 MW in RES projects already operating, as well as 2,000 MW in RES projects at an advanced stage.
Completion of the deal would take PPC to another level and establish it as a regional force in southeast Europe’s energy market.
Market experts have put a price tag of between 1.3 and 1.4 billion euros on the possible deal.
Late last night, PPC and ENEL signed a confidentiality agreement obliging ENEL officials to only discuss a possible deal with PPC, which is conducting due diligence until January 23, in preparation for a deal that appears increasingly likely, as long as the two sides can agree on a price.
ENEL controls Romanian networks in the Muntenia region, surrounding Bucharest, the industrial zone of Timisoara, as well as Dobrota’s tourism section. The three networks offer a total capacity of 16 TWh.