Enel Plans to Invest €160 Bn by 2030 to Accelerate the Energy Transition

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Enel has released its vision 2030 and announced that it is placing at the core of its strategy the acceleration of the energy transition.

One of the biggest utilities in Europe – Enel has released its vision 2030 and 2021–2023 strategic plan. The firm has announced that it is placing at the core of its strategy the acceleration of the energy transition. 

The firm expects to mobilize investments of 190 billion euros in the 2021-2030 period, boosting decarbonisation, electrification of consumption and platforms to create sustainable shared value for all stakeholders and profitability over the medium and long term. And it has said that it plans to directly invest around 160 billion euros, of which over 150 billion euros through the ownership business model and around 10 billion euros through the stewardship business model, while further catalysing around 30 billion euros from third parties. Enel Energy Transition

As for the investment planned under the Ownership business model:

  • Nearly half will be devoted to Global Power Generation, with Renewables totaling around 70 billion euros, which are expected to lead to around 120 GW of installed capacity by 2030, 2.7 times higher than the approximately 45 GW currently installed. This will be accomplished by leveraging on a growing pipeline of more than 140 GW, alongside a worldwide platform-based Business Development, Engineering and Construction as well as Operation and Maintenance model;
  • Around 46 percent is expected to be deployed in Infrastructure and Networks, to address quality and resiliency improvements, new connections and infrastructure digitalisation, resulting in a Group Regulated Asset Base (RAB) of some 70 billion euros in 2030 and over 90 million end users 100 percent – digitalised through smart meters, leveraging on an unparalleled scale of operations, the highest digitalisation expertise and a distinctive intellectual property value;
  • The remaining amount relates to Customers and is expected to lead, by 2030, to a steep increase in customer value. The Group will enable electrification, accelerating customers’ path to sustainability and energy efficiency, combining traditional offerings with “beyond commodity” services. This business will leverage on the largest customer base worldwide, digital platforms and a growing integrated portfolio of offerings.

As for the investment under the stewardship business model, the group is expected to invest, approximately, an additional 10 billion euros, while catalysing around 30 billion euros from third parties, enabling an overall amount of some 40 billion euros of investments, mainly related to Renewables, alongside Fiber, e-transport and flexibility.

Francesco Starace, CEO and General Manager of Enel said “with this new Strategic Plan we are setting a direction for the next 10 years, mobilizing 190 billion euros 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.”

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Ayush Verma

Ayush is a staff writer at saurenergy.com and writes on renewable energy with a special focus on solar and wind. Prior to this, as an engineering graduate trying to find his niche in the energy journalism segment, he worked as a correspondent for iamrenew.com.