Enel Will Focus On Sustainable Electrification From 2023-2025

On Nov. 22, Enel Group announced its 2023 - 2025 Business Plan. During this period, the company will invest around €15 billion (US$15.55 billion) in the growth and efficiency of its projects to accelerate sustainable electrification around the world. While no new investments have been announced in Mexico, the company will focus on a long-term strategy and asset management, as the country will no longer be central to Enel’s project development.

Enel Group aims to cover approximately 90 percent of its fixed-price sales with carbon-free electricity by 2025, raising its overall renewable power production to 75 percent. Moreover, they expect to shift around 80 percent of their customers to the digitized network. To achieve its goals, the company will focus on four strategic actions: balance the customer demand and supply to optimize the risk/performance profile, decarbonization to ensure competitiveness, sustainability and safety, to strengthen, grow and digitize networks to enable energy transition and finally to optimize the business portfolio.

By 2025, the EBITDA of the Italian Group is expected to reach €22.2 billion (US$23 billion), in comparison to the  €19 billion (US$19.7) projected for 2022. Likewise, the group’s net ordinary profit is expected to reach €7 billion (US$7.2 billion), compared to €5 billion (US$5.18 billion) in 2022.

In the coming years, Enel will seek to position itself in six key countries: the US, Italy, Spain, Brazil, Colombia and Chile. By 2025, the Group expects to add around 21GW of installed renewable capacity, of which approximately 19GW will be deployed in these countries.

"This strategy seeks to increase our resilience to face future challenges and position our value creation toward greater growth. This will benefit stakeholders and accelerate energy independence in our central countries,” stated Francesco Starace, CEO, Enel Group.

On the other hand, Enel will continue to apply the Stewardship model to take advantage of potential opportunities in non-key countries and to maximize global value creation. In Mexico, Enel has 2.9GW of managed capacity distributed across 19 plants, seven of them being under the Stewardship model, where Enel participates as an asset manager and owns 20 percent of the plants.