Italy’s Enel plans strategic shift to more mature markets

The utility giant is eyeing the expansion of its footprint in the U.S., Spain and Italy.

In a development that underscores Italy’s biggest utility Enel pushing strategically to make its network more digital, the firm has disclosed that it plans on tapping more mature markets, including Spain, Italy and the U.S.

It unveiled this measure, as part of its 2018-2020 business plan, on Tuesday.

While confirming the bulk of its financial targets from its previous plan, Enel raised its minimum dividend per share for next year by 33% to 0.28 euros.

It stated it would be selling a further 3.2 billion euros of assets in the period from 2018-2020 and will earmark 2.3 billion euros for buying back minorities; it also plans on spending 2 billion euros to buy grids and e-solution businesses.

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