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Repowering Edison
01 August 2003
Trim, refocused, and ready for growth,
Edison is pouring its energies back into the Italian power market. Project Finance talks to Paolo Gallo, COO of Edipower and formerly Edison's VP for strategy, to find out how.
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Edison SpA has grown over the years to become one of the most diversified energy players in the industry, dabbling in everything from agribusiness to chemicals. Now, roused by debt-woes and credit concerns, it is peeling back its non-core businesses in a bold bid to become, once again, what it used to be: a pure play energy company.
?The intention was to bring Edison back to its original activities ? gas and electricity,? says Paolo Gallo, formerly head of strategy for Edison ? which is also Italy's oldest energy company, dating from 1883 ? and now COO of Edipower, formed from the recently privatized generating company, Eurogen, majority acquired by Edison. He is unambiguous about this latest restructuring: ?Before it [Edison] was a conglomerate. Now, we have a more focussed company.?
Over the last two years, especially since its buyout by the Italenergia group (which formally merged with its target), Edison...
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