CHI ENERGY TO BECOME ENEL NORTH AMERICA

(Stamford, Conn. – September 2, 2003) – CHI Energy, Inc. (“CHI”)  changed its name to Enel North America Inc. on September 1, 2003.  Enel, Italy’s major electricity company and a world leader in renewable energy, bought Stamford-based CHI in December, 2000. The North American group, itself a leading provider of renewable energy,  owns and operates 430 MW of small hydro, wind power, and biomass generation in the United States and Canada.

Marco Arcelli, President and CEO of Enel North America, said: “The name change represents a closer integration of our strategy in the Americas with Enel’s overall growth strategy internationally. In keeping with CHI’s traditional focus on renewables, we will continue to pursue opportunities in selected North American markets, especially those that complement our existing position and strengths.” 

Arcelli was named president and CEO of CHI in August 2003.

Enel North America was originally founded in 1985 as Consolidated Hydro, Inc. with a portfolio of small hydro plants in the northeastern U.S.  In 1997, the company changed its name to CHI and expanded its activities to other renewable technologies.  The company now has 89 power plants operating in 17 U.S. states and two Canadian provinces, primarily selling wholesale electricity.

The company’s parent, Enel, is one of the world’s largest integrated electric utilities, with approximately 40,000 MW of generating assets in Italy as well as ownership of generation in Spain, Bulgaria, Central America, and Chile.