The Electric Company Enel Will Invest 32 Billion in Renewable Energy Over the Next 10 Years to Become a Green “Giant”

In Brazil, Enel intends to invest €5 billion, which, at the current exchange rate, is more than R$30 billion, in the next three years. This is equivalent to 12.5% of its global investment plan for the season.

On Tuesday (24), the president of Enel, Francesco Starace, stated that the main focus of the company’s investments is renewable energy generation projects, as the company has strongly established itself in the Brazilian distribution market.

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Enel is the largest utility in the field in Brazil. As the largest renewable energy distribution company in the country, it controls distribution not only in São Paulo but also in other states, such as Ceará, Goiás, and part of the state of Rio de Janeiro.

Enel Aims to Balance Position in Renewable Energy Generation and Distribution

In an interview, Starace stated that regarding the investment plan for the next three years, Enel aims to level its position in the renewable energy generation and distribution market in the countries where it operates.

Focusing on Brazil as its strongest distribution center, the investment priority is in the generation area. However, Starace does not rule out participation in the privatization auctions of the CEEE-D distributors in RS and CEB in DF.

Enel Adjusts Growth of Investments in Distribution with Aneel

Enel has adjusted the investment volume in distribution concerning negotiations with Aneel about the economic-financial rebalancing of agreements due to the conditions caused by the pandemic.

During the pandemic, Enel’s headquarters in São Paulo faced several protests over unjustified increases in electricity bills, as deemed by customers. In August, it signed a Conduct Adjustment Term – TAC with Procon-SP, thereby restructuring the debts of customers who formalized their complaints.