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Atel acquires Italian power stations

The Edipower consortium yesterday afternoon received the go-ahead from Rome for its proposed takeover of Eurogen. As a member of the Edipower consortium, the Swiss electricity trading company Atel has thus acquired an interest in Italy’s second-largest electricity producer.

Edipower bid around CHF 5,500 million for Eurogen, including its corporate debt. Atel is pleased at the deals approval, which gives the company its own production capabilities in Italy. This marks a further step in the strategy of extending Atels strong existing position in the Italian market. Further to its involvement in Edipower, Atel is realising power station projects of its own in Italy.

Atel holds a 16.6 percent beneficial and energy interest in the Edipower consortium, whose other partners are Edison, AEM Milano, AEM Torino, and financial investors Unicredit, Interbanca and Royal Bank of Scotland. Enel grouped power stations with a total capacity of 7,008 megawatts (MW) in the Eurogen company, making it the second-largest electricity producer in Italy. The company employs around 2,200 people. Enel is required to divest this portion of its power stations as part of Italys electricity market opening.

Aare-Tessin Ltd. for Electricity Corporate Communications