Enel CFO: We are preparing for a significant increase of investments in Romania

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Italian company Enel is preparing to significantly increase investments in Romania in the next period, especially in the renewable energy sector, the company’s chief financial officer, Alberto de Paoli, announced on Tuesday in a press conference.

“We are close to a big, big increase in investments in Romania in all businesses, mainly in renewables, where we will resume development, but also in networks,” Paoli said.

Also Francesco Starace, CEO of the group, said that Romania is a wonderful country for foreign investors and can benefit greatly from the green policy of the European Union.

“Romania is a wonderful country to be present, there are many investment opportunities in the future, there is great growth potential for renewable energy, which is in line with the European trend that the European Commission is trying to impose. We believe that Romania should benefit a lot from the Green Deal and it is on a good trajectory in this regard,” Starace said.

He also stressed that Enel will continue its investments in renewable energy in Romania. “We will certainly continue investing in the renewable energy sector in Romania. We will continue to transform networks into digital ones and we see potential for increasing retail services and business customers in Romania. In Romania there is a significant number of very active customers who we believe that they will benefit from our presence,” the head of the utility company also said.

Asked if the Romanian subsidiaries will follow a reorganization process, he replied: “Reorganization is something we do wherever we can, so that the organization of companies is as functional and less complex as possible.”

Paolo added that Romanian businesses are not integrated, and cash optimization is very difficult. “Some companies need capital and others need excess cash. So business integration is needed to create value,” the chief financial officer said, according to Agerpres.

Starace added that Enel will not invest in the gas extraction sector.

“We sold the gas distribution a long time ago because we do not see any added value in this type of asset, given the electrification trend that has engulfed everyone,” the energy company representative said.

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