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Enel To Expand Power Distribution Business In The US

Italian energy company Enel Group on Tuesday announced plans to widen its power distribution business in the American market.

The company said that it will invest 16.2 billion euros or $19.52 billion in distribution networks in the coming two years, and a sum of 60 billion euros or $72.2 billion by the year 2030.

Most of the investment will be spent on consolidating the power grids and working on digital flexibility to control rising volumes of renewable energy.

At present, the company operates power distribution grids across eight South American countries and all over Europe, with more than 74 million consumers.

Enel also has plans to set up a new company to provide services and digital infrastructure devices for grid maintenance. The new company is expected to start operations by the end of 2021.

Enel Global Infrastructure and Networks CEO Antonio Cammisecra said, "In the US, we are currently in generation, but we would like to enter one day into distribution. To identify potential targets, Europe and Latin America are on the radar screen, but we are also looking at other geographical areas."

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