Enel plans IPO of grid services business – Reuters

Enel SpA plans an initial public offering of its grid services business in 2023, Reuters reported Jan. 13, citing an interview published in the Italian daily newspaper La Repubblica.

CEO and General Manager Francesco Starace told La Repubblica that Enel will separate the grid services business and find it an industrial partner in 2022. The new company will reportedly be called Gridspertise.

Enel's infrastructure and networks unit reported revenues of €19.34 billion in 2020 and €14.93 billion in the first nine months of 2021. The unit is third-largest contributor to its total revenues after end-user markets and the thermal generation and trading business.

Aside from the grid services business, Enel also plans to list its network of charging stations for electric cars, Reuters reported.