Enel Plans To Invest €10.6 Billion In 11.6 Gigawatts Of Renewable Energy

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Italian energy giant Enel has announced its Strategic Plan for the next three years, which includes plans to invest €10.6 billion in new renewable energy capacity with plans to create an additional 11.6 gigawatts (GW).

Enel is based in Italy, but the company has a global presence, and currently boasts renewable energy assets all around the world. As part of the company’s Strategic Plan for the next three years, Enel has signaled that it will focus the €10.6 billion in new renewable investments into markets where it already has a strong presence, such as Italy, Spain, Chile, and Brazil.

Enel’s future plans are heavily focused on renewable energy, with the company allocating 42% of its gross capex allocation to renewables, and 40% to network infrastructure. Out of this, Enel believes it will be able to achieve significant value creation through both the development of new renewable energy capacity and through the decarbonization of the company’s current generation mix.

In the end, Enel expects to be able to create €1 billion in incremental earnings through the addition of 11.6 GW worth of new renewable energy capacity.

“Since 2015 we have delivered on all of our targets through a significant improvement in cash flow generation, which, combined with an acceleration on growth, has allowed us to increase our shareholder remuneration, raising DPS from 0.16 to 0.28 euros per share in 2018, and expand our pay-out ratio that is set to remain stable at 70% over the plan period,” explained Francesco Starace, CEO and General Manager of Enel.

“Renewables and network operations drove our investment strategy that is focused on a shorter time to market and a higher degree of flexibility to better cope with the progressive transformation of the industry.”

Have a tip for CleanTechnica? Want to advertise? Want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Latest CleanTechnica.TV Video

CleanTechnica uses affiliate links. See our policy here.

Joshua S Hill

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

Joshua S Hill has 4403 posts and counting. See all posts by Joshua S Hill