The Group expects to mobilise EUR 210 billion between 2021 and 2030. Of this amount, Enel plans to invest around €170 billion directly (+6% compared to the previous Plan) through the Ownership and Stewardship business models, with a further €40 billion catalysed by the latter through third parties.
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ITALIAN
Allocating capital to support a decarbonised electricity supply
The 2030 Plan
Ownership business model
The Group plans to invest around EUR 160 billion directly, principally in Tier 1 countries.1
70
€ billion
Dedicated to renewables
An increase of approximately 84 GW of capacity, including approximately 9 GW of storage, is planned, increasing installed renewable capacity to 129 GW at consolidated level by 2030.
70
€ billion
Infrastructure and Networks
A €10 billion increase over the previous Plan and concentrated in Europe, with the aim of strengthening the Group's position as a global player in terms of size, quality, efficiency and resilience.
1 Countries in which the Enel Group has an integrated or potentially integrated presence, especially Italy, Spain, Romania, the United States, Brazil, Chile, Colombia and Peru.
Stewardship business model
The Group plans to invest in countries where the generation business is unintegrated with customer business, in new territories or in areas where Enel can enhance its expertise in offering services to partners.
10
€ billion
invested directly by the Group
40
€ billion
invested by third parties
This capital allocation is expected to accelerate the achievement of the Group's electrification and decarbonisation goals.
By 2030, the Enel Group aims to arrive at a total renewable capacity of around 154 GW, tripling its portfolio by 2020, as well as increasing the network's customer base by 12 million and promoting the electrification of energy consumption, increasing the volumes of electricity sold by almost 30% while focusing on the development of "beyond commodity" services, such as electric public mobility or behind-the-metre storage, in collaboration with partners.
The 2022-2024 Strategic Plan
The Group plans to directly invest a total of approximately EUR 45 billion over the period 2022-24, representing a 12% increase over the previous Plan, while mobilising an additional EUR 8 billion (circa) from third parties under the Stewardship business model.
43
€ billion
Invested through the Ownership business model
With a 94% alignment to the UN SDG sustainable development goals and an alignment of more than 85% to the EU Taxonomy criteria.
2
€ billion
Invested in the Stewardship business model
Through capital injections and acquisitions of minority stakes, while mobilising an additional approximately €8 billion in investments from third parties.
Of the total Group investments envisaged by the Ownership and Stewardship models, around EUR 19 billion will be allocated to Renewables and around EUR 18 billion to the Infrastructure and Networks business.
2024: accelerate delivery and improve our positioning
The Group's total renewable capacity is expected to increase to 77 GW. As a result, zero-emission generation is estimated to reach 77% in 2024 and CO2 emissions are expected to decrease by more than 35% compared to 2021, positioning the Group to achieve its "Net Zero" targets on schedule.
81
mln
Customers reached in Infrastructure and Networks
30
TWh
Increase in electricity sold through the electrification of consumption
Enabling the electrification of customers' energy demand
The 2030 Plan
The Group's strategic actions will aim to increase value for customers in the Business to Consumer ("B2C"), Business to Business ("B2B") and Business to Government ("B2G") segments by increasing their electrification level and improving the services offered.
In Tier 1 countries, this strategy, combined with investment in the asset base, is expected to deliver a 2.6-fold increase in the Group's integrated margin between 2021 and 2030, thanks to a unified platform capable of handling the world's largest customer base of private operators.
The Group will enhance its integrated positioning in Tier 1 countries, where it forecasts:
- an 80% increase in revenues compared to 2021;
- substantially unmodified tariffs for customers;
- a 40% decrease in the cost of energy sold compared to 2021.
The increase in the volumes of electricity sold and the growth in "beyond commodity" services will be accompanied by a general reduction in costs. Specifically, the total cost of production is expected to fall by around 50%, due to the increased use of proprietary production in energy sales as well as the increased share of renewables in the Group's generation mix.
The value created by the Group for customers is expected to lead to a reduction of up to 40% in their energy expenditure, together with a reduction of up to 80% in their carbon footprint1 by 2030.
The 2022-2024 Strategic Plan
Thanks to the Group's new customer-centric model, the integrated margin is expected to grow 1.6 times by 2024 compared to 2021. Over the next three years, customer revenues are expected to increase by 26% and electricity sales to grow by 25%. This will be accompanied by a decrease in the overall cost of energy sold, which is also the result of a reduction in the average cost of production.
Focusing on the value creation throughout the value chain
To strengthen its customer-centric strategy through the use of platforms, the Group is creating its Global Customers Business Line, which will define commercial strategy and direct capital allocation towards customer needs, leveraging electrification while also delivering excellent service levels.
The Group's new positioning will be accompanied by the simplification and re-balancing of its portfolio, through:
- a focus on "Tier 1" countries;
- resources made available through the disposal of assets no longer functional to the Group's strategy;
- mergers and acquisitions aimed at improving positioning, acquiring skills or generating synergies.
Bringing forward sustainable "Net-Zero" targets
The Group's Strategy and its projected positioning in 2030 will enable its "Net-Zero" commitment to be brought forward by 10 years, from 2050 to 2040. Indeed, Enel plans to abandon coal-fired generation by 2027 and gas-fired generation by 2040, replacing its thermoelectric portfolio with new renewable capacity, as well as hybridising renewables with storage solutions. Furthermore, it is forecast that by 2040 the electricity sold by the Group will be entirely produced from renewables and in the same year Enel will exit the gas retail business.