IN SHORT

Enel to wrap up SE deal by end of April

THE ITALIAN Enel firm has decided to complete the privatization of a 66-percent stake in Slovak energy utility Slovenské elektrárne (SE) by the end of April 2006, Enel CEO Fulvio Conti said in London on March 23.

Speaking at the presentation of Enel's consolidated results for last year, Conti confirmed that Enel had given up its insistence that Slovakia adopt a Nuclear Fund Act before closing the SE deal. Earlier, Slovak Economy Minister Jirko Malchárek had reported that Enel was dropping the condition.

"Minister Malchárek was right. We do not insist on this condition, we can close the transaction without this," Conti said.

However, before the transaction is closed, the A1 and V1 reactors at the Jaslovské Bohunice nuclear power station have to be transferred to the state-owned GovCo; which according to the Economy Ministry's schedule, should have been completed by the end of March. Besides that, the Gabčíkovo hydro power plant also has to be transferred to a water management firm.

According to Conti, Enel plans to invest €80 million in Slovakia to increase the quality of nuclear resources and another €173 million into renewable energy resources.

"Our intention is also to actively do business with neighbouring countries," said Conti.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Dual quality in the EU will be punished

Slovakia’s Agriculture Ministry welcomed the change, calling it a victory.

Food prices keep falling.

Blog: Bringing top business minds and students together

Martin Kardoš of CSI Leasing introduces the Mentor Network Program aimed at pairing young talents with experienced mentors from the business world.

Martin Kardoš, Managing Director CEE at CSI Leasing, at one of the Mentor Network Program events.

Blog: What about parking slots for “brains”?

Will the state of biomedical research trigger reactions at least half as passionate as Bratislava's parking policy?

Illustrative stock photo