Enel to invest €2.5 billion in broadband rollout
Enel is to invest €2.5 billion ($2.8bn) to build and operate an ultra-broadband optical fibre infrastructure across Italy for businesses and homes.
The Enel OpEn Fiber (EOF) plan will see a fibre-to-the-home network being gradually rolled out, through its pipes, and ultrafast broadband released to 224 Italian cities, a board of directors meeting yesterday confirmed.
"The articulation of Enel OpEn Fiber’s strategic plan is a major step towards achieving the targets set out in the European Digital Agenda, as well as in the Italian strategy for ultra-broadband,” said CEO and GM of Enel, Francesco Starace.
“Installing fibre cables through our electricity network, which reaches the businesses and homes of 32 million Italians, will enable wide-ranging coverage of the country at competitive costs, creating value for Enel and for all players that will want to use this new, important infrastructure."
EOF, first established in December 2015, will operate as a wholesale-only player and remains open to commercial cooperation to build infrastructure for other licensed operators and gain access to the new EOF network.
Enel’s board also discussed a letter of intent between EOF, Vodafone and Wind, which seeks to define a strategic and commercial partnership for the development of the network across Italy.
Around 7.5 million homes will be covered in the first few years of the plan.