MOSCOW (Reuters) - Italy's biggest utility Enel plans to list a stake in its renewables unit despite difficult market conditions and a potential change to Italy's renewable incentives scheme, Chief Executive Fulvio Conti said.
Enel, with debts of 51.9 billion euros at the end of March, aims in October to raise between 3 billion and 4 billion euros ($5.37 billion) from the sale of a minority stake in Enel Green Power (EGP), in what would be Europe's largest initial public offering (IPO) so far this year.
"EGP can be floated in turbulent markets such as these. It is yielding money, it is not a pie in the sky company ... We believe October is the right moment," Conti told reporters at a news conference in Moscow on Tuesday.
