Italy utilities form Hydro Dolomiti Enel

摘要

Locally backed Dolomiti Energia SpA signed a formal investment agreement April 24 with Italian utility Enel SpA to develop jointly hy-dropower projects in Trento Province and to operate a portfolio of existing hydroelectric projects in Trento. The agreement implements a memorandum of understanding between the parties that was initialed in 2007. At that time, Dolomiti Energia SpA formed a similar understanding with another Italian utility, Edison SpA. Enel agreed to sell Dolomiti 51 percent of its hydroelectric activities in the northern Italy province for 562.7 million euros (US$881.3 million). Enel agreed to spin off its hydroelectric operations in Trento to a new company, originally called NewCo and now named Hydro Dolomiti Enel Srl.