Italy-based Edison, Europe's oldest energy company, has signed an agreement for the sale of its power plants CET 2 and CET 3 to Italian steelmaker Ilva, a subsidiary of Italy's Riva Group, at a cost of about €160 million.
The plants in question, located within the industrial site of Ilva in Taranto, have a total capacity of 1,065 MW. CET 2 is a 480 MW plant that provides electricity to Ilva's mill in Taranto, while CET 3, with a capacity of 585 MW, provides steam to the mill and produces electricity that is sold to GSE, a publicly-owned company which promotes and supports renewable energy resources in Italy.