So far, Enel has closed contracts worth almost 100 million euros; out of this sum, 40 million euros will be spent in the Muntenia Sud region; In Bucharest works are being carried out in other 20 sites; Enel continues to implement the most extensive investment program ever run in the power distribution networks in Muntenia, Banat and Dobrogea, worth around 700 million euros over the next five years.
Enel is opening a new working site in the district of Giulesti within the framework of its Bucharest power network modernization project. During the first stage, the Giulesti works will be performed in Calea Giulesti, Copsa Mica and Documentului streets to be then extended to the other streets. The Bucharest distribution network relies on obsolete equipment from the 1960s and the 1970s. Modernization works in Bucharest are being implemented in 20 other sites and in 11 high voltage stations.
In the first five months of the year only, Enel has closed contracts for power grid modernization works in the three areas where it operates (Muntenia, Banat and Dobrogea) in the value of about 100 million euros. Out of this sum, over 40 million euros were allocated for power grid modernization works in the Muntenia region.
In Giulesti, a substation that has been operational since 1959 will be replaced with a new and state-of-the-art one and existing low voltage cables will be replaced with twisted cables, which are safer and thicker than the former. At the same time, works are being carried out to replace network connections, mount measurement units as well as installing more advanced meters. The works will improve the quality of the distributed electricity as well as considerably reducing the number and duration of breakdowns.
“The works we are carrying out in the Giulesti neighborhood are part of the major investments program initiated by Enel in Muntenia Sud. Giulesti is one of the areas where frequent malfunctioning of the distribution network has been reported due to obsolete equipment and high power consumption. We are carrying out major modernization works whose successful completion will also depend on the issuing of all relevant permits by central and local authorities. We hope that by the time the works will be finalized, inhabitants of the Giulesti area will enjoy a high quality power service.” declared Alberto Birga, General Director Enel Distributie Muntenia, Banat and Dobrogea.
These works are part of an extensive investment program Enel is implementing from this year onwards in the Romanian power network. The value of the investment program, which is proceeding in line with schedule, totals over 700 million euros in the next 5 years, much higher than the average yearly level of investments carried out prior to privatization in all the three regions.
Starting 2005, since the company entered the Romanian market, and until the end of 2009, Enel invested in Romania 328 million euros mainly in the improvement and modernization of distribution networks.
Enel is Italy’s largest power company, and Europe’s second listed utility by installed capacity. It is an integrated player which produces, distributes and sells electricity and gas. Further to the acquisition of the Spanish utility Endesa, Enel has now a presence in 23 countries with over 95,000 MW of net installed capacity and sells power and gas to around 61 million customers. Listed on the Milan stock exchange since 1999, Enel has the largest number of shareholders of any Italian company, at about 1.4 million retail and institutional investors in 2009. The Enel Group is also the second-largest Italian operator in the natural gas market with approximately 2.8 million customers and a significant player in the Spanish market, with around 1.2 million customers.
Enel is the most important private investor in the Romanian electricity sector, reaching about 2.5 million customers, operating 93,000 km of network and employing approximately 5,000 people. Enel is present in the electricity supply area through Enel Energie and Enel Energie Muntenia, while Enel Distributie Banat, Enel Distributie Dobrogea and Enel Distributie Muntenia are the companies in charge of managing and upgrading power network in these three regions. In Romania, Enel is working to become a vertically integrated operator by entering the power generation sector in renewable sources (wind power), nuclear (as one of the investors in the new Cernavoda 3&4 units) and future initiatives in clean coal.