(Alliance News) - Enel Libra Flexsys, a subsidiary of Enel and participated by the Sosteneo fund, has bought 49 percent of the company for about EUR1 billion, as Milano Finanza writes Thursday.

To simplify the corporate structure, it has decided to incorporate subsidiary Ilary Storage, which owns a 200 MW Bess system in the province of Udine, MF continues.

The deal aims to improve operational efficiency and reduce operating costs, effective March 1.

Meanwhile, the company is developing the Montalto Bess 1 project, a 44.5 MW storage system licensed at Montalto di Castro in Viterbo.

Although it may also build power generation plants, the focus is on energy storage.

By Claudia Cavaliere, Alliance News reporter

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