It will invest 4,300 million in the next three years to boost its renewables, 39% more

MADRID, 22 Nov. (EUROPA PRESS) -

Enel will allocate almost a quarter of its investments in the 2023-2025 period to Endesa, with a total of 8,640 million euros of the 37,000 million euros of its investment plan for the next three years, as announced by the Italian group on the occasion of its Capital Markets Day.

Specifically, the energy company places its gross 'capex' (capital investment) for Endesa -which has its business in Spain and Portugal- for the period 2023-2025 at those 8,640 million euros, which represents an increase of 15 .2% compared to the 7,500 million of its previous plan for the period 2022-2024.

Of this investment effort with Endesa, a total of 5,940 million euros will be allocated to its integrated commercial strategy (generation, customers and services), while 2,700 million euros will be for networks.

Regarding the promotion of renewables until 2025, Endesa plans to develop 4.75 gigawatts (GW) of the 21 GW that the group expects to carry out in the Enel world in the next three years.

Thus, the Spanish electric company will be the destination of 26% of the investments for 17,000 million euros in renewables in the Enel period, with some 4,300 million euros, only behind Italy (32%) and the United States (28% ).

This figure represents almost 39% more than what was foreseen in its previous plan, which amounted to 3,100 million euros, in a clear commitment by Endesa to continue promoting 'green' generation.

Thus, in 2023 Endesa's investment in renewables will be around 1,300 million euros, to grow in the following two years (2024 and 2025) to 1,500 million euros per year.

Meanwhile, Endesa will allocate a total of 2,600 million euros to the development of networks in the 2023-2025 period, compared to the 2,900 million euros in its previous plan for 2022-2024, another 600 million euros to 'retail' and some 300 million euros to Enel X.