The Italian group Enel plans an investment of 9,000 million euros in Endesa, its subsidiary in Spain, in the period 2024-2026. The figure represents 25% of the 35.8 billion that it plans to invest in the world, according to the strategic plan that the energy giant presented this Wednesday in Rome.
Enel has also announced the sale of its business in Peru, to focus on the six countries it considers strategic: Italy, Spain, Brazil, Chile, Colombia and the United States. Thus, 49% of the investment will be allocated to Italy, about 17.5 billion euros; 19% to Latin America, about 6.8 billion, and 7% to the United States, about 2.5 billion.
Even so, the main executives of the company have assured during the subsequent press conference that while the legislative framework in Spain is not going to change its strategy in the country, the same is not true in Latin America, where an adequate level has been reached. of investments and “too high” volatility means that the investment allocation model has changed.
The company has also explained that the main destination of investments in the coming years will be networks of countries with fair and stable regulatory frameworks, also taking advantage of access to European subsidies, which allows for less capital-intensive and less risky investment.
Along these lines, the investment will be around 18.6 billion euros and will focus on improving quality, resilience and digitalization, along with new connections, confirming the centrality of regulated businesses in the Group's strategy.
For his part, the company's CEO, Flavio Cattaneo, has acknowledged that although the company is "always exploring all technologies" with those currently known, the business will focus on the renewable business to which it will allocate 12.1 billion euros. , with more selective investment decisions, investing in onshore wind, solar and battery storage, while repowering aging plants.
Between 2024 and 2026, this new approach is expected to allow the Group to deliver around 13.4 gigawatts (GW) of new renewable capacity in all the geographies where it is present, thanks to a solid portfolio of around 450 GW, of of which approximately 160 GW are in a mature phase.
With this, in 2026 the group's renewable capacity is expected to reach approximately 73 GW from around 63 GW estimated in 2023, with emission-free production reaching approximately 86% compared to around 74% estimated in 2023.
In addition, it will allocate €3 billion of gross investment to clients, actively managing the group's portfolio through combined offerings, covering products and services within an integrated portfolio provided through a single point of contact.
Regarding the forecasts, Enel expects that the ordinary gross operating profit (ebitda) will rise to 23,600-24,300 million euros in 2026 and that the ordinary net profit will be between 7,100 and 7,300 million euros.
The company commits to a minimum fixed dividend per share of 0.43 euros for the entire period, between 2024 and 2026, with a payout of 70% of ordinary profit.
