June 7, 2018 |
Italy's Enel said it intends to invest roughly €1.5bn ($1.77bn) in Brazil through 2020, not counting the BRL5.55bn ($1.45bn) it has spent to buy a controlling stake in the country's largest power distribution company, Eletropaulo.
According to press reports, Carlos Zorzoli, the head of Enel in Brazil, said the company will invest $900m in Eletropaulo between 2019 and 2021 to improve services.
The purchase will be funded with an 18-month bridge loan, guaranteed by Enel Brasil and Enel Américas, F
Italian utility charts some $1.7bn of investments into Brazil over the next two years