Italy's Enel Acquires Romanian Power Company

Last year, Enel was selected as the winner of a 67.5 per cent stake in EMS, which is the most valuable Romanian electricity distribution and supply company.

Enel has already announced that after the acquisition of EMS, the company plans to make other investments in Romania by participating in ongoing and forthcoming tenders.

"Our growth plans, both in distribution and generation, will contribute to making Romania the energy hub in the region by reducing the country's dependence on fuel imports and promoting a more balanced fuel mix as well as the increased efficiency of power plants," Enel CEO Fulvio Conti said recently.

The company has a war chest of 2 billion euros and has earmarked 1 billion euros to be invested in Enel Electrica Banat and Enel Electrica Dobrogea, which it bought in 2004, and 1 billion euros to invest in Electrica Muntenia Sud.

It also has its eye on local thermal power plants and is looking to bid on a 2.5 billion euro contract to build two more reactors at the Cernavoda nuclear power plant.

Romania aims to increase the shares of nuclear and renewable energies in its energy mix, and Enel also plans to invest in new wind farms in the country.

Other major European utilities with assets in Romania include CEZ, E.ON and Gaz de France.