Italian utility provider, Enel Wednesday announced that it planned to invest around 2.5 billion euros ($2.8 billion) to help develop a national Fiber-to-the-Home(FTTH) network, called Enel OpEn Fiber, or EOF. Besides offering the service to its customers, Enel said that it plans to open the network to other telecom operators.
The state controlled utility provider will use the existing electricity distribution network to roll out its broadband network, leveraging its poles and ducts to save cost.
It targets to implement FTTH to around 7.5 million homes and plans to gradually bring the ultrafast broadband service to 224 Italian cities.
Enel also plans to duplicate similar services in countries where it runs power distribution infrastructure such as in Latin America.
At the same time, the company has also started installing a new generation of smart electricity meters into 33 million Italian homes.