ECONOMY

Edison SpA looking at DEPA stake

Italian utility Edison SpA is interested in taking part in the privatization of Greek natural gas company DEPA, said its Chief Executive Umberto Quadrino yesterday. In an interview with Reuters, Quadrino said Edison’s priority with regard to its foreign interests was Greece, where the company is already a power operator through its joint venture with Hellenic Petroleum. «We’re obviously interested in a stake in[Greece’s natural gas monopoly] DEPA since we have gas-fired power plants to fuel [and] have plans to build a gas pipeline from Greece to Italy,» he said. The Greek government, which owns 65 percent of DEPA, in March gave up on plans to float the company and said it would instead focus on finding a strategic investor. «The government has announced the sale of 33 percent and while we are interested, we are still waiting for the bid to be organized,» added Quadrino. Quadrino said Edison is also eyeing renewable energy operations in Turkey, Romania, Serbia and Bulgaria.