Enel announces the sale of Romanian assets in 2023
Posted On November 22, 2022
The Enel Group presents its 2023-2025 strategic plan, with new goals to be achieved in the current energy context.
The company expects to:
- concentrate on integrated value chain pursuing sustainable electrification, which is increasingly needed in global energy systems, covering approximately 90% of its fixed price sales with carbon-free electricity in 2025, bringing renewable generation to around 75% of total as well as reaching around 80% of digitalized grid customers;
- strategically reposition businesses and geographies, with a disposal plan worth around 21 billion euros in terms of positive contribution to the reduction of Group Net Debt. The bulk of this plan is expected to be rolled out by the end of 2023, resulting in a more agile company focused on six core countries;
The cornerstone year of the Group’s long-term streamlining strategy is expected to be 2023. Specifically:
- activities in Europe are set to center around Italy and Spain, with the sale of Romanian assets;
- in Latin America, the Group expects to exit from Peru and Argentina;
- some geographies, such as Australia and Greece, are expected to be added to the Stewardship perimeter;
- the value of gas portfolio in Spain is expected to be crystallized;
- the assets in Ceará are expected to be sold in order to increase the focus on distribution networks in megacities (Rio and São Paulo);
- the value of other minor renewable assets not linked to downstream sizeable customer bases will also be crystallized.
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