Italian utility Edison looking to sell stake in renewables business - report

Italian utility Edison Spa is preparing to sell an up-to-40% interest in its renewable energy generation division in a transaction expected to value the unit at above EUR 1 billion (USD 1.2bn), Reuters reported on Monday, citing sources with knowledge of the matter.

According to the insiders, Lazard and Societe Generale are helping Edison to attract private equity firms as potential buyers, with an auction likely to be launched in the coming weeks.

Edison is part of French group EDF (EPA:EDF). The deal would enable it to support its green energy activities as EDF's investment priorities are focused elsewhere, the sources have told the news agency.

Earlier this year, Edison took full control of wind farm operator E2i Energie Speciali by acquiring a 70% stake from F2i Fondi Italiani per le Infrastrutture. E2i Energie Speciali, where Edison already held 30%, owns 38 wind parks totalling 706 MW, four projects with a combined capacity of 74 MW and three small solar photovoltaic (PV) arrays. The acquisition brought Edison's renewables portfolio to above 1 GW.

(EUR 1.0 = USD 1.215)

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