Italy’s Enel to invest over $45 billion by 2027

(Reuters) – Italy’s Enel plans to invest 43 billion euros ($45.30 billion) in the next three years, of which 26 billion euros will be allocated for power grids and the remainder for renewable projects, the utility said on Monday.

In its previous 2024-2026 business plan presented last year, the state-controlled group said its investments would total 35.8 billion euros including grants.

Enel pledged to increase investor reward, setting a fixed minimum dividend at 0.46 euros per share from 0.43 euros indicated previously.

($1 = 0.9491 euros)

(Reporting by Francesca Landini in Milan and Nilutpal Timsina in Bengaluru; Editing by Abinaya Vijayaraghavan)