Italian energy company, Enel, announced that it has finalized the sale of 50 percent of its subsidiary Gridspertise to international private equity fund CVC Capital Partners Fund VIII. The transaction is in line with the Enel Group’s current Strategic Plan, under the Stewardship model, which envisages investments carried out with third parties, with the aim to add new infrastructure and services in order to accelerate the electrification process of customers’ energy demand.
Gridspertise is dedicated to accelerating the digital transformation of power grids through advanced network technologies and solutions. The Company offers end-to-end cloud-edge platform solutions and services to accelerate the digital transformation of electricity distribution grids in three main areas: metering and grid edge digitalization, network infrastructure digitalization, field operation digitalization.
Gridspertise was born in 2021 leveraging on Enel’s over 20 years of experience in developing, testing, and scaling up the best technologies to operate smart grids all over the world. The Company has inherited a significant intellectual property portfolio of over 430 patents and combines its expertise in grid digitalization with cutting-edge solutions from leading technology partners to tackle the evolving needs of the market. Today Gridspertise works with more than 50 Distribution System Operators of different sizes and in different geographies and this year has delivered over 5 million intelligent devices so far.
The Company is headquartered in Italy with offices in Spain, Brazil, India and the United States. Target markets include Europe, Latin America and North America, and are expanding towards Asia-Pacific and Africa, where the investment in smart grids will drive infrastructure upgrade projects in the near future.