Power utility PPC is up against strong competition from three major funds handling capital worth hundreds of billions of euros for the acquisition of Enel Romania, a subsidiary of the major Italian energy group Enel, sources have informed.
Enel Romania has been placed for sale as its parent company wants to reduce its net debt figure.
PPC has been scouring neighboring markets for almost a year now, looking for opportunities to expand beyond Greece and establish a geostrategic position in the region.
The southeast European energy market is attracting major international investment interest as Balkan countries have plenty of potential for RES growth and also promise to serve as a new energy corridor in Europe.
Canadian fund Brookfield, handling over 750 billion euros in capital and globally present with investments in renewables, infrastructure, real estate and social security funds, is believed to be one of the funds PPC is up against for Enel Romania.
The UK’s Amber Infrastructure, handling over 10 billion euros in capital, primarily in infrastructure, has been named as another potential buyer of Enel Romania.
Enel’s debt figure surged to 70 billion euros in September following energy crisis measures taken by the Italian government, an extraordinary tax, and increased natural gas orders for coverage of customer needs.
Enel aims to cut its debt by roughly 21 billion euros through the sale of assets in countries such as Romania, Argentina and Peru.
Mining Peru 2020, an international congress and exhibition scheduled for April 1-2 in Lima, Peru, promises to closely examine exciting opportunities in Latin America for mining companies and investors.
A related report on key investment projects in Peru has been released by the Vostock Capital team of analysts ahead of the Lima event. The report’s details and other important issues will be discussed at the event. These include:
- Toromocho Expansion (Province Junín). The expansion will bring the processing capacity of Toromocho copper concentrate to 157,000 tons per day and an annual production of refined copper to 300,000 tons. Total investment: US $1.3 billion
- Quellaveco (Province Moquegua). The mining megaproject, for which construction began in August 2018, has reserves for 30 years, making it one of the largest copper deposits in the world. Total investment is US $ 5,300 million.
- Haquira (Province Apurímac). It will have an estimated 20 years of life and its production is estimated at 230 thousand tons of copper during the period of operations. Estimated investment is US $ 1,860 million.
Geological conditions of the region favored the formation of a large variety of mineral deposits with significant reserves, which has resulted in a generous supply of raw materials for the development of road infrastructure, housing, and local industry, making mining an important economic engine for communities across the continent.
The Congress is supported by Peru’s Ministry of Energy and Mining.
+44 207 394 30 90 (London)
Catalina Velasco – Latin America Marketing Manager