Enel sees Greenpower IPO in 2009 if conditions good

CERNOBBIO, Italy, Sept 5 (Reuters) - Enel (ENEI.MI) is looking to list 30 to 40 percent of its renewable energy unit Greenpower in 2009 if market conditions are right, the Italian power utility's chief executive said on Friday.

"We will go to the bourse in 2009 if there are the market conditions but we are not in a hurry. We are listing it to allow other investors to take part in the interesting development that will take place in the sector," Fulvio Conti said.

"Thirty to 40 percent is ideal because we want to maintain control of the company," he added, speaking on the sidelines of a business conference in this lakeside resort in northern Italy.

Conti said Enel was working on putting all its renewable energy activities together.

"In a few weeks, this new company will take form. Greenpower will be an important player in the renewables market because it has an important dimension and it is present in all sectors of renewable energy," he said.

Greenpower operates in wind, geothermal, hydroelectric and solar power in 22 countries.

Conti said it was putting 6 billion euros ($8.6 billion) into projects in the next few years.

According to market estimates, Enel Greenpower could command a market value of about 14 billion euros. (Reporting by Giancarlo Navach; Editing by David Holmes)