Enel, an energy utility company, intends to accelerate the energy transition, alongside sustainable and profitable growth to create significant value shared with all stakeholders.
The group expects to mobilize investments of €190 billion in the 2021-2030 period, boosting decarbonization, electrification of consumption and platforms to create sustainable shared value for all stakeholders and profitability over the medium and long term.
Enel Group implements two business models: the traditional one, called “Ownership”, where digital platforms are a business enhancer supporting investment profitability, and the “Stewardship” model, which catalyzes third-party investments in partnership with Enel or where platforms are a business generator.
The group plans to directly invest around €160 billion, of which over €150 billion through the Ownership business model and around €10 billion through the Stewardship business model, while further catalyzing around €30 billion from third parties.
More than 90% of Enel’s consolidated investments will be in line with the UN Sustainable Development Goals (SDGs). In addition, according to Enel’s initial calculations, between 80% and 90% of the group’s consolidated capex will be aligned to EU Taxonomy criteria for its substantial contribution to climate change mitigation.
The growth rate in investments versus the previous plan is expected to be around 36%.
As for the investment under the Stewardship business model, the Group is expected to invest, approximately, an additional 2 billion euros, while catalyzing around 8 billion euros of investments from third parties, therefore enabling an overall capex of around 10 billion euros, mainly related to Renewables, alongside Fiber, e-transport and flexibility.
Managed renewable capacity is expected to reach around 8 GW in 2023, more than double versus 2020. In addition, with Enel X, the group aims to increase the number of electric buses by more than 6 times to around 5,500 units in 2023, as well as to grow demand response capacity to 10.6 GW (+1.8 times versus 2020) and storage capacity to 527 MW (+4.2 times versus 2020). Finally, in 2023, Enel X is expected to reach around 780,000 public and private charging points made available worldwide (+4.5 times versus 2020).
“With this new Strategic Plan we are setting a direction for the next 10 years, mobilizing €190 billion in investments to pursue our goals in a decade full of opportunities. To realize this vision, we can leverage on our clear leadership in the utility sphere across three main elements, all driven by an innovative platform-based model. First, as a ‘Super Major’ in the renewable sector, we operate the world’s largest private generation fleet. Furthermore, we have an unparalleled global network system, where the platform-operating model drives improvements in quality, resiliency, efficiency and flexibility. Last but not least, we count on the largest customer base worldwide to which, through our business platforms, we provide innovative services and integrated offerings. Throughout the decade, we will strengthen the creation of sustainable shared value for all stakeholders, which is also embedded in an attractive remuneration for our shareholders.”Francesco Starace, CEO and general manager of Enel.