According to Russian news provider RIA Novosti, the Italian utility is planning to extend its reach into the Russian market by investing between $6 billion and $9 billion.
Enel entered the Russian energy market in 2004 and currently jointly operates the Russian North-West Thermal Power Plant. Furthermore, earlier this year, it acquired gas assets of bankrupt oil firm Yukos.
In addition, the Italian firm bought a stake of wholesale generating company OGK-5, and has since received approval from Russia’s Federal Anti-Monopoly Service to acquire over 70% of the firm.
