The Strategist

Enel to invest €18.6B in power grids in 2024-2026



11/23/2023 - 06:41



During the years 2024–2026, the Italian energy company Enel intends to make significant investments in the modernization of power distribution networks while concentrating on the extremely lucrative renewable energy market.



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The company's revised medium-term plan states that a total of approximately €35.8 billion in capital investments will be made over the following three years. Of this, €12.1 billion will go toward renewable energy sources and €18.6 billion - toward the electrical grid. Of the total capex, approximately 49% will come from Italy.

Enel plans to cut expenses by roughly €1.2 billion by 2026. The company also plans to lower net debt by roughly €11.5 billion in 2023–2024 through asset sales.

Specifically, the business declared the $1.4 billion sale of its Peruvian generating assets to Niagara Energy, a local business.

Enel anticipates a net profit of €7.1–7.3 billion in 2026 and an EBITDA of €23.6-24.3 billion.

source: ft.com

 




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