Utilities are increasingly turning to renewables as sources of growth. Italy's largest utility Enel Group is the latest to do so, repurchasing Enel Green Energy in its entirety through issuing €3.1 billion (US$3.3 billion) in shares. For each EGP share, investors will receive 0.486 Enel Group shares under the deal. Bloomberg notes that the deal will see Enel Group repurchase the 30% of EGP that it does not already own. Bloomberg reports that the Italian Utility raised €2.26 billion (US$2.41 billion) when it sold Enel Green Power in 2010. EGP and its foreign subsidiaries will become fully owned subsidiaries of Enel Group. EGP will be delisted as a result. In a statement announcing the deal, EGP reported that the move will "increase the investment capacity of Enel Green Power," enabling it to grow its project pipeline; allow "closer integration" of renewables and the distribution ...Den vollständigen Artikel lesen ...