Enel may invest up to 5B euros from EU funds to restore energy grids

Italian power utility Enel could secure up to 5 billion euros ($5.4 billion) for investment from REPower EU energy funds in addition to 3.5 billion euros in EU recovery funds already won, its CEO was quoted as saying on January 13, Report informs referring to Reuters.

In an interview with Il Sole 24 Ore daily, Francesco Starace said Enel could invest 3-5 billion euros of REPower EU money on renewable energy projects and to boost resilience of energy grids if the deadline to spend the funds could be extended to 2030 from 2027.

If the 2027 deadline remains unchanged, Enel could spend 2-4 billion euros, he added.