Italian utility company Enel sells 49% stake in battery energy storage division Enel Libra Flexsys to Generali-owned Sosteneo for €1.1bn ($1.19bn).

Enel, an Italian utility company, has agreed to sell a 49% stake in its battery energy storage division, Enel Libra Flexsys, to Generali-owned Sosteneo for approximately 1.1 billion euros ($1.19 billion). Enel Libra Flexsys manages 23 battery energy storage systems with a combined capacity of 1.7GW, as well as three renovation projects for open cycle gas turbine plants with a total capacity of 900MW. The sale is expected to be completed by the first half of 2024, subject to conditions including antitrust clearance and successful completion of the golden power procedure.

March 04, 2024
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