Sosteneo, an asset manager, agreed to acquire a 49% stake in Enel Libra Flexsys, a battery energy storage systems company, from Enel, an energy firm, for €1.1bn. “Energy storage systems are a key asset in the energy transition, to which Enel is strongly committed: this is why they hold such an important position in our 2024-2026 Strategic Plan. This partnership with a leading player such as Sosteneo enables us to further accelerate the development of storage solutions supporting Italy’s energy system, optimizing capital allocation with the aim to create value for all stakeholders," Stefano De Angelis, Enel CFO.