Enel on track for Oct renewables IPO: report

MILAN (Reuters) - Italian power company Enel SpA (ENEI.MI) is on track to float its renewables unit in October, Chief Executive Fulvio Conti said in an interview on Saturday.

Enel, Europe's most indebted utility, said early this month it would launch the initial public offering (IPO) of shares in the Green Power renewable energy unit in the last two weeks of October as it moves to cut its debt.

"Until it's over, you cannot exclude anything, but I'm convinced that it will go forward and will be a success," Conti told la Repubblica newspaper.

"Beyond the state of the market, we're convinced that Enel Green Power will please investors, small and large, by its strength."

Italy's largest utility aims to raise between 3 billion and 4 billion euros from the IPO of a minority stake, making it potentially the biggest European share offering this year.

Conti said he was "not very pessimistic" about the prospect of a new world recession and pointed to upturns in electricity use as a sign of a rebound.

"We know, of course, that the road to pre-crisis levels will be a long one," he said.

(Reporting by Ian Simpson)