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    Enel to IPO its Gridspertise network business and recharging business in 2023


    January 20, 2022 - CE Noticias Financieras

     

      Enel is preparing to carry out two major financial operations. Europe's largest electricity company has decided to split its subsidiary Enel X to create two divisions. On the one hand, it is launching a company that will focus on the development of the smart grid business (Gridspertise) and on the other it is creating another exclusive business with electric vehicle charging.

      The CEO of the Italian company, Francesco Starace, has assured that his intention is to incorporate a financial partner this year to the capital of the new Gridspertise with the intention of being able to take it public in 2023.

      Enel's intention is to remain the majority shareholder of the company but to facilitate further growth through capital inflows.

      Gridspertise will start operating this year as an independent company to improve and make services available to all customers, although it was officially launched last September. The company is currently managing around 8,000 MW of power that can be used to manage demand, i.e. to stop consuming in exchange for a reduction in the price of electricity.

      The company will mainly target the European and Latin American markets, where the Enel Group already has a strong presence, and will seek to expand in North America and the Asia-Pacific region, where investments in smart grids will drive infrastructure improvement projects.

      Enel is progressively digitizing all its grids worldwide, comprising more than 2.2 million kilometers of power lines monitored by hundreds of thousands of remote control points. Enel's 20 years of experience in the field of smart metering through massive deployment projects totaling more than 44 million active devices connected to its networks, as well as its digital management of more than 30 million field operations executed each year for 13 distribution companies in eight countries, ensure that all the solutions that Gridspertise will offer are reliable and proven.

      The digitization of grid infrastructure, aimed at boosting the intelligence and flexibility of grids, increases efficiency, reliability and quality of service and supports grid managers in addressing the challenges faced by grid operations.

      In addition, the company will also list its new electric vehicle charging company, which already has around 245,000 charging points.

      The electricity company wants to turn customers into 'prosumers'.

      Grdispertise will enable end customers of distributors to benefit from a more reliable electricity supply, facilitating the full electrification of their energy consumption, promoting energy efficiency through better control of data, and enabling them to participate in energy markets by facilitating their conversion into prosumers, i.e. by giving up consumption in exchange for discounts and integrating individual stationary storage or participating in aggregation schemes with electric vehicles.

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