ELIA: FY2021 results and creation of WindGrid ELI BB
Yesterday evening, Elia Group issued a press release to announce the creation of a new subsidiary ‘WindGrid’. Through the new entity, Elia Group wants to accelerate its involvement in offshore grid infrastructure outside of its core regions Belgium and Europe. The press release comes one day before their FY2021 earnings. All headline numbers are in line with our expectations and above consensus. We look forward to the presentation of their new 5-year investment programme during the conference call at 10:30am CET. BUY and € 131 TP maintained.Elia System Operator develops, operates and maintains very-high-voltage (380 kV, 220 kV and 150 kV) and high-voltage (70 kV, 36 kV and 30 kV) networks, providing its customers with consultancy and engineering services. Whether in Belgium, Germany or elsewhere in Europe or the U.S., Co. ensures that electricity flows reliably from energy producers to distributors and large corporate customers. Co.'s main activities include transmission operator, system operator and market facilitator, developing and maintaining grid infrastructure, connecting electrical installations to grids, providing transparent access to grids, while taking initiatives to improve electricity market operations.
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