Politicians must guarantee future governments won’t reverse a decision to build atomic reactors to ensure Italy’s nuclear revival wins financial backing, the chief executive officer of the country’s largest utility said.
Enel SpA Chief Executive Officer Fulvio Conti said he expects the company to raise “at least” 3 billion euros ($3.8 billion) from the sale of a minority stake in its Enel Green Power unit, less than his previous estimate.
Enel SpA, Italy’s largest utility, said earnings sank 79 percent last year and won’t recover until 2017 as taxes and weakening power demand crimp growth and force asset sales. German peer EON SE also announced disposals.
Enel SpA Chief Executive Officer Fulvio Conti said Italy’s biggest utility is “well on its way” to beating its 2010 earnings forecast and considers October the “right time” for its renewable-energy unit to sell shares.