Enel’s decision to leave Romania is not due to legislation, but to the fact that the company has reached a point where it can no longer grow, Enel CEO Francesco Starace said on Tuesday.

• “We decided to leave Romania because we have reached a point where it is difficult to get additional growth in the future.
• We have “saturated” the space for investments in the network and have reached – more or less – a position in the customer and production segment that no longer offers many opportunities for growth,” explained Starace at the press conference, according to Agerpres.

He emphasized that the reason for leaving is not the legal basis.

• “So the reason we’re leaving is not because we don’t like the legal and regulatory framework in Romania, which is no better and no worse than many others.
• We have seen that all European governments have taken action in the context of high gas prices across Europe.
• I don’t think Romania performed better or worse than others. We have to deal with this situation as best we can. But this is not a verdict on this matter, but only the fact that the space for additional potential growth in the country is very limited,” said Starace.

According to him, now is a good time to capitalize Romanian assets.

“You could say it’s more of a recognition of the fact that we’ve done a good job, that Romania has a good base, and the sale monetizes, in a good way, the value we’ve created. This is a positive judgment of the Image of Romania, recognition of the good work done there,” said the head of the Italian company.

According to a report presented to the press on the occasion of the Capital Markets Day conference, the Enel group planned to exit Romania next year.

“Activities in Europe will focus on Italy and Spain as we leave Romania,” said Alberto De Paoli, the company’s chief financial officer.