Sosteneo to buy 49% of Enel's battery business

Generali Investments' Sosteneo unit will acquire 49% of the share capital in Enel Libra Flexsys, a company fully owned by Italian utility Enel, which operates a 1. 7 GW portfolio of battery energy storage systems (BESS). Italy's biggest utility Enel has agreed to sell a 49% stake of its energy storage business to Generali Investments' Sosteneo for around EUR 1. 1 billion ($1. 2 billion). The deal will value the Italian group's subsidiary - Enel Libra Flexsys - at around EUR 2. 5 billion, including debt. Enel Libra Flexsys was established for the development and management of a major portfolio ...

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