Enel has turned to the European Investment Bank (EIB) to support the group’s build-out of clean energy infrastructure in Latin America. EIB information shows that Enel looks to secure 600mn euros (US$696mn) for a 2021-24, 1.2bn-euro (US$1.39bn) investment program in the region, primarily Brazil, Chile, and Peru. The planned spend covers renewable energy generation, energy efficiency and the technological upgrade of electricity networks.
The market for sustainable energy infrastructure in the targeted countries is currently growing driven by the Paris Agreement commitments and existing decarbonization paths. Enel’s 2021-23 mature pipeline of renewable energy projects totals 73GW, of which 33% corresponds to Latin America, followed by Europe (29%), North America (24%) and rest of the world (14%). Enel S.p.A. is an Italian multinational manufacturer and distributor of electricity and gas. Enel, which originally stood for Ente nazionale per l’energia elettrica, was first established as a public body at the end of 1962, and then transformed into a limited company in 1992.