Enel launches the sale of a 50% stake in its Gridspertise smart grid business. The company expects to bring in a shareholder to help them scale the company.
The intention of the Italian utility, which owns Endesa, is to remain the majority shareholder but at the same time facilitate further growth through the entry of capital to continue growing. For the time being, interested parties include funds and industrialists, according to sources familiar with the process, and for the moment the company has not opted for either of the two options.
Gridspertise will enable end customers of distributors to benefit from a reliable electricity supply, facilitating the electrification of their consumption, promoting efficiency through better control of data, and enabling them to participate in energy markets by becoming prosumers.
The company began operating independently this year, although it officially launched in September of the previous year.
Gridspertise is targeting markets in Europe and Latin America, where Enel already has a strong presence, and has just announced its entry into the United States.
The Enel subsidiary focuses its scope of action on three areas: digitization of meters, digitization of grid infrastructure and field operations.
The Italian company is progressively digitizing all its networks around the world, consisting of 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.
Enel X Way
On the other hand, the company is also considering a similar operation in Enel X Way. The new electric vehicle recharging company, which already has around 245,000 points, is preparing the official launch of its alliance with Cepsa in the coming days. Both companies are preparing an ambitious growth in the installation of recharging points in the coming months, as the oil company indicated in the presentation of its strategic plan.