 | |
 Company seat in Rome | |
| Company type | Società per azioni |
|---|---|
| BIT: ENEL FTSE MIB Component | |
| Industry | Electric utility |
| Founded | 27 November 1962; 62 years ago (1962-11-27) |
| Founder | Italian government |
| Headquarters | , |
Area served | Worldwide |
Key people | Paolo Scaroni (Chairman)[1] Flavio Cattaneo (CEO)[2] |
| Products | Electricity generation anddistribution;natural gas distribution |
| Revenue |  €78.947 billion (2024)[3] |
 €15.494 billion (2024) | |
| €7.016 billion (2024)[3] | |
| Total assets | €187.139 billion (2024) |
| Total equity | €49.171 billion (2024) |
| Owner | Ministero dell’Economia e delle Finanze (23.6%)[4] |
Number of employees | 60,359 (2024)[3] |
| Website | www.enel.com |
Enel S.p.A. is an Italianmultinational manufacturer and distributor of electricity and gas. Enel was first established as apublic body at the end of 1962, and then transformed into alimited company in 1992.[5] In 1999, following theliberalisation of theelectricity market in Italy, Enel wasprivatised.[6] The Italian state, through theMinistry of Economy and Finance, is the main shareholder, with 23.6% of the share capital as of 31 December 2024.[7]
The company is quoted on theFTSE MIB index on theBorsa Italiana.[7]
In 1898, the production of electricity in Italy was 100 GWh,[8] and had a value of over $56 billion by 1960.[clarification needed][9][10] The majority of the electricity was produced by regional private companies,[11] or by companies linked to other industrial bodies,[12][13][14] both local and regional, by exploiting the specific characteristics of the territory: itshydrogeological resources.[15]
The state subsidised the construction ofpower stations and other necessary construction work in the territory in order to increase the production ofelectricity.[16][17][18] In 1961, the state-regulated distribution, with unified national tariffs set on the basis of equal consumption classes (through the Equalisation Fund for the Electricity Sector[13]: 137 [19]), and by requiring power companies to provide access to electricity for everyone.[12][14][20][21]
In 1962, the government institutionalised the Entity for electricity with the aim of making electricity a means for the development of the country and in order to define a national policy for electricity based on the experiences of other countries such asFrance and theUnited Kingdom.[20][21]
At the beginning of 1962, theFanfani IV Cabinet committed the government to put together a proposal for the unification of the national electricity system within three months of the parliament passing a confidence motion.[22][23]
During theChamber of Deputies assembly of 26 June 1962, the government presented a bill that sanctioned the principles and procedures for the establishment of theEnte Nazionale per l'energia Elettrica (E.N.EL).[11]
According to the bill, Enel was going to acquire all assets of companies producing, processing, transmitting, and distributing electricity, with the exception of self-producers—companies that produced more than 70% of their electricity for other production processes—(the same exception was later applied to municipal authorities), and of small businesses that did not produce more than 10 millionkilowatt hours per year.[24][25]
Procedures to assess the value of the acquired companies were defined, and it was established thatcompensation was to be paid to creditors in 10 years at an interest rate of 5.5%.[24][26] Within this framework, 1962 was to be considered a transition year, in which all income and expenses of the acquired companies would be transferred to Enel. 1963 was thus the first operational year of the newly formed company.[27]
The first companies to be acquired were:[28]SIP (Piedmont),[29] Edison Volta (Lombardy),[30]SADE (Veneto),[31][32] SELT-Valdarno (Tuscany), SRE (Lazio), SME (Campania), SGES (Sicily), and Carbosarda (Sardinia).
Enel's early goals were the modernization and development of theelectricity grid with the construction of ahigh voltage power lines backbone, international connections, connections to the islands,rural electrification, and the creation of a national centre for dispatching. These projects were to be co-financed by the state through the issuing, in 1965, of bonds valued at over 200 billionItalian liras.[33][34] In 1967, Enel, which was originally supervised by the Committee of Ministers, began to be overseen by the inter-ministerial Committee for Economic Planning (CIPE), under the Ministry of Industry.[24][35][36] During this period, production fromthermal power stations surpassed, for the very first time, that ofhydroelectric power.[37][38]
In 1963, the National Dispatch Centre ofRome was created to manage the energy network by coordinating the production plants, thetransmission network, thedistribution, as well as the interconnection of the Italian electricity system with that of foreign countries by adjusting in real time the production and transmission of energy on the basis of actual demand.[5][28][34]
In terms of rural electrification, the settlements that were not connected to the electricity grid declined from 1.27% in 1960 to 0.46% in 1964, with over 320,000 new residents being connected.[39]In the five-year period between 1966 and 1970, further investments for rural electrification were made, where 80% of the costs were covered by the state and 20% by Enel, part of those costs being incurred by reducing some rates as an incentive for agricultural development.[40]
In 1968, the construction of the 380 kV high-voltage connection betweenFlorence andRome began, with the aim of joining the high voltage electrical system of the north with that of the centre and the south.[41][42] Around the same time, international high voltage connections withFrance (380 kV Venaus-Villarodin, 1969) andSwitzerland were also put in place.[43][44] In the same year, undersea electrical cables were put in place to connect the peninsula and the islands ofElba (1966),[45]Ischia (1967),[45][46] andSardinia throughCorsica (1967).[38]
In 1963, Enel was involved in theVajont Dam disaster. On 9 October 1963, a huge landslide of 260 million cubic metres fell into the reservoir formed by the dam. The dam and power plant had been built by theSocietà Adriatica di Elettricità (the Adriatic Electricity Company, or SADE) and then sold toEdison, and it had just been transferred as part of the nationalisation process to the newly established Enel. The landslide created huge waves in the Vajont reservoir, which partially flooded the villages ofErto e Casso and swept over the dam, completely wiping out the towns in the valley below it:Longarone, Pirago, Rivalta, Villanova, and Faè.
Approximately two thousand people died in the disaster. Enel and Montedison were charged in the ensuing trial as the companies responsible for the disaster, a responsibility considered all more serious because of the predictability of the event. The two companies were forced to pay damages to the communities involved in the catastrophe.
The decade of the 1970s was distinguished by a majorenergy crisis that led the company to implement drasticausterity measures, and the establishment of a national energy plan that defined the objectives of both building new power plants and searching for newenergy sources.
In 1975, as a result of the1973 oil crisis and the austerity measures, and following the establishment of the first National Energy Plan (PEN), the aim of the company became that of reducing Enel's dependence onhydrocarbons, which was to be achieved with the use of other energy sources, including hydro, geothermal, coal, reducing waste, and, in particular, the use ofnuclear power.[24][49][50]
Several new plants were built in the course of the decade.[51] In the early 1970s, the construction of the nuclear power stationCaorso (Emilia-Romagna), the first majornuclear power plant in Italy (to generate 840-860 MW), began. The station became operational in 1978.[52][self-published source?] Between 1972 and 1978, the hydroelectric plant of Taloro was built in the province ofNuoro (Sardinia).[53] In 1973, the hydroelectric plant ofSan Fiorano became operational. In 1977, a thermoelectric power plant opened in Torre del Sale, nearPiombino (Tuscany).[54] At the end of the 1970s, the construction of the thermal power plant ofPorto Tolle (Veneto) began, and its first completed section became active in 1980.[55][56]
Between 1971 and 1977, the pilot 1000 kV transmission facilities inSuvereto (Tuscany) were tested.[57][58] In 1974, the construction of the Adriatic high voltage electric backbone was completed.[59][60] Between 1973 and 1977, wells for geothermal energy production were drilled in Torre Alfina, in the province ofViterbo (Lazio).[61] The dam of Alto Gesso (Piedmont) was completed in 1982 as part of the hydroelectric power station Luigi Einaudi"Entracque".[62][63]
The 1980s were characterised by the construction of new plants and the testing of alternative forms of energy, the Italiannuclear power phase-out, as well as a gradual reduction of reliance on oil, which decreased from 75.3% in 1973 to 58.5% in 1985.[64][65][66] Several large power plants became active during this period. Among these, thefossil fuel power plant of Fiumesanto (Sardinia) in 1983–84;[22] thepumped-storage hydroelectricity power station ofEdolo (Lombardy) in 1984–85, one of the biggest of its kind inEurope;[67] and thecoal power plant ofTorrevaldaliga Nord (Lazio) in 1984.[22]
In 1981, with the help of theEuropean Economic Community, Enel built the first large-scalecompact linear Fresnel reflectorconcentrated solar power plant, the 1MWe Eurelios power station inAdrano (Sicily).[68] The plant was shut down in 1987.In 1984, thephotovoltaic power station ofVulcano (Sicily) became active.[69] In the same year, the firstwind farm in the country became operational in Alta Nurra (Sardinia).[70]
During 1985, the national center for the dispatch and control of the electricity network was gradually transferred from the center ofRome to Settebagni, and made a part of a bigger European network for the synchronisation of electricity production.[71][72]
In 1986, Enel had its first positive balance, with a profit of 14.1 billionItalian liras.[73]
In 1987, in the aftermath of theChernobyl disaster, the first referendum on nuclear power took place and was won by those opposed to nuclear power. This result marked the end of nuclear power inItaly, the closing and suspension of all construction of nuclear power stations, and the establishment of a new national energy plan.[52][74] TheCaorso Nuclear Power Plant inEmilia-Romagna, which had been inactive since 1986 due to refuelling, was never reactivated and was finally closed in 1990.
TheEnrico Fermi Nuclear Power Plant inPiedmont was deactivated in 1987 and shut down in 1990. The construction work on theMontalto di Castro Nuclear Power Station, started in 1982, was interrupted in 1988. The station was converted the following year into a multi-fuel plant. TheLatina Nuclear Power Plant was shut down in 1988. TheGarigliano Nuclear Power Plant had been shut down since 1978.
In 1988, the new National Energy Plan (PEN) established its key objectives: increased energy efficiency, environmental protection, the exploitation of national resources, the diversification of sources of supply from abroad, and the overall competitiveness of the production system.[74][75][76][77]
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Between 1990 and 2000, the Italian electricity market was progressively liberalized.[74] In 1991, Law No. 9/1991 sanctioned a first partial liberalisation of the production of electricity generated from conventional sources andrenewable energy sources; companies were allowed to produce electricity for their own use with an obligation to hand over the excess amount to Enel.[74][78] In July 1992, theAmato I Cabinet turned Enel into ajoint-stock company with theTreasury as the sole shareholder.[79]
In 1999, theD'Alema I Cabinet issued Legislative Decree no. 79 of 16 March 1999 (known as the Bersani Decree) to liberalise the electricity sector. This opened up the possibility for other actors to operate in the energy market. Enel—which had so far been the only actor in the production, distribution, and sale of electricity in Italy—had now to change its corporate structure by distinguishing the three phases and constituting itself as three different companies: Enel Produzione, Enel Distribuzione, andTerna, respectively, for energy production, distribution, and transmission. Moreover, Enel could produce only 50% of the national production according to the new law.[80][81][82][83]
That same year, 31.7% of the company, in its new structure, was privatised. Following privatization, Enel was put on the stock market; its shares were listed on theItalian Stock Exchange with a value of €4.3 per share; the total number was 4,183 million shares for a total value of€18 billion.[84][85]
In this period, Enel was involved in several new projects. In 1993, the company built theSerre photovoltaic plant. At the time, this was largest of its kind in Europe with an installed capacity of 3.3 megawatts.[86] In 1997, Enel,France Télécom, andDeutsche Telekom fundedWind as ajoint venture, a mobile and fixed telecom operator.[87] In 2000, Enel launched a project to connect Italy's andGreece's power grids by laying a 160 km underwater power line, capable of carrying 600 megawatts, to connectOtranto (Apulia) with the Greek city ofAetos. The project, completed in 2002, had a total cost of€339 million.[88][89]
During the 2000s, the company worked to reduce the environmental impact of the production of energy and on a progressive internationalization of Enel through a number of mergers and acquisitions.[90][91] In 2000, Enel signed an agreement with the ItalianMinistry of the Environment and theMinistry of Economic Development in which the company committed to reducecarbon dioxide emissions by 13.5% before 2002, and by 20% before 2006.[92] That year, Enel acquired CHI Energy, arenewable energy producer operating in the US and Canadian markets, for $170 million.[93] In the following years, Enel continued investing in renewable energy and clean technologies.In 2004, the company was included in theDow Jones Sustainability Index, a stock market index that evaluates the financial performance of companies based on economic, environmental, and social performance.[94]
In 2008, Enel formedEnel Green Power, a company dedicated to developing and managing the production of power fromrenewable energy.[95] In 2009, Enel launched the Archilede project, a new urban lighting system chosen by 1600 municipalities. This new intelligent lighting technology resulted in approximately 26 GWh per year of energy saving, and reducedcarbon dioxide emissions by 18,000 tons per year.[96] That same year, the company opened a newphotovoltaic power station in the Park ofVilla di Pratolino, inFlorence. The project - called "Diamante" – was to build a plant capable of storing, as hydrogen, enough of the solar energy accumulated during the day to meet night-time requirements.[97] In 2010, theArchimede combined cycle power plant became operational atPriolo Gargallo, nearSyracuse inSicily. This was the first thermal solar field to usemolten salt–technology integrated with acombined cycle gas facility.[98]
Enel had several acquisitions and divestments in this period. In 2001, the company won the tender offer for the purchase of Viesgo—asubsidiary ofEndesa—a company active on the Spanish market in the production and distribution of electricity, with a net installed capacity of 2400megawatts.[99]In 2002, Enel divested Eurogen SpA, Elettrogen SpA, and Interpower SpA in compliance with the Bersani Decree provisions on the liberalization of electricity production.[100][101]In 2001, Enel acquiredInfostrada, previously a subsidiary ofOlivetti, at a cost of 7.25 billion euros. Infostrada was later merged withWind, with 17 million customers.[clarification needed][102][103] In 2005, Enel assigned 62.75% ownership of Wind toWeather Investments, a company belonging to the Egyptian businessmanNaguib Sawiris, at the timeCEO ofOrascom Telecom Holding (the remaining 37.25% was divested in 2006).[104]
In 2008 and 2009, Enel Stoccaggi andEnel Rete Gas were sold to investors, mainlyPrimo Fondo Italiano per le Infrastrutture. In 2011, Enel opened the first pilotcarbon dioxide–capture facility in Italy, in the area ofBrindisi, in the existing power plant ENEL Federico II.[105] That year,Enel Distribuzione built its firstSmart grid inIsernia, a grid capable of effectively adjusting the two-way flow of electricity generated from renewable sources. The total investment for this project was€10 million.[106]
Also in 2011, Enel became part of theUnited Nations Global Compact, aUnited Nations initiative to encourage businesses to adopt sustainable policies worldwide,[107] and signed a cooperation framework agreement with theWorld Food Programme, to fight against world hunger and climate change. The cost of the project was€8 million, which included the production and distribution of high-efficiency cooking stoves, the installation ofphotovoltaic systems in the all WFP logistical premises, and giving support to humanitarian interventions.[108][109][110] In the same year, the company was added to the FTSE4Good Index of theLondon Stock Exchange which measures businesses' behaviour in terms of environmental sustainability, relationships with stakeholders, human rights, the quality of working conditions, and fighting against corruption.[111][112]
In 2012, Enel sold the remaining 5.1% ofTerna in its possession, thus exiting completely from the high-voltage market.[113] In 2013, Enel signed an agreement, inSochi, for the sale of 40% of Arctic Russia, ajoint venture withEni, which in turn controlled 49% of SeverEnergia, for $1.8 billion.[114][115] In May 2014,Maria Patrizia Grieco was elected president of theboard of directors; andFrancesco Starace was appointedCEO.[116]The company's main objectives were set to be the reorganisation of activities inIberia andLatin America and debt reduction.[117][118] In 2014, Enel—together withEndesa, Accelerace, and FundingBox—initiated the INCENSe program (Internet Cleantech Enablers Spark), which was co-funded by theEuropean Commission, for the promotion of technological innovation inrenewable energy, and was joined by over 250 start-ups from 30 countries in 2015.[119][120][121] In 2014 and 2015, Enel was included in the STOXX Global ESG Governance Leaders index, an index that measures a company's environmental, social, and governance practices.[122][123]
Enel took part inExpo 2015 inMilan as anOfficial Global Partner. With a€29 million investment, as well as building its own pavilion, Enel built aSmart City over the entire Expo area, simulating a city of 100,000 inhabitants with a total energy consumption of 1 GWh per day.[124][125]The Smart City comprised a smart grid for the distribution of electricity, an operations center for the monitoring and management of the smart grid, an information system that allowed visitors to view in real-time the electricity consumption in each pavilion,charging stations forelectric vehicles,[126] andLED lighting of the entire exhibition site.[126]
During 2016–2018, Enel carried out a series of operations aimed at digitising and innovating the Group, with particular attention to sustainability. In January 2016, Enel launched the “Open Power” brand, which presented the company with a new visual identity and a new logo. The concept of “openness” became the driver of the Group’s operative and communicative strategy.[127][128] In June 2016, Enel presented the Enel Open Meter, the 2.0 smart meter designed to replace first-generation electronic meters. Open Meter was designed by Italian designer and architect Michele De Lucchi. In July 2016, Enel launched an Innovation Hub in Tel Aviv to scout 20 start-ups and foster collaboration, while offering a personalized support programme.[129][130] In December 2016, Open Fiber completed the acquisition of Metroweb Italia for €714 million.[131][132]
In 2016, ahydrogen-fueled power station located in Fusina, near Venice was commissioned but only produced energy for less than two years with costs of energy production 5-6 times higher than conventional sources.
In March 2017, Enel inaugurated the Innovation Hub at University of California, Berkeley, an initiative for start-up scouting and collaboration development.[133][134] In April 2017, in joint venture with Dutch Infrastructure Fund, the company launched the largest “ready-to-build” solar PV project in Australia.[135] In May 2017, Enel launched E-solutions, a new global business line to explore new technologies, as well as to develop products.[136] In July 2017, Enel joined Formula E for the first zero-emission event in the championship’s history in New York.[137] In September 2017, Enel ranked 20th in Fortune’s 2017 “Change the World” list and became one of the top 50 companies in the world – and the only Italian company – to have a positive social impact through business activities.[138] In the same month, Enel and ENAP inaugurated Cerro Pabellón, the first geothermal power plant in South America and the first in the world to be built at 4,500 meters above sea level.[139][140]
In October 2017, the company inaugurated an Innovation Hub in Russia in collaboration with the technological hub of Skolkovo.[141] In the same month, Enel was included in the Top 20 of Forbes World’s Best Employers List 2017[142] and was confirmed by the non-profit global platform CDP as a global leader in the fight against climate change.[143] In November 2017, Enel presented E-Mobility Revolution, a plan which seeks to install 7000 recharging stations for electric vehicles by 2020.[144] In November 2017, Enel presented the 2018-2020 strategic plan, which was characterised by a focus on digitization and new offers to customers.[145][146] In December 2017, Enel and Audi signed an agreement to develop electric mobility services.[147] In the same month, the Group launched the Enel X brand.[148]
In January 2018, Enel launched a new green bond in Europe. The issue amounted to a total of €1250 million.[149][150] In January 2018, Enel was confirmed for the tenth time in the ECPI Sustainability Index series.[151] In February 2018, it received the 2018 Ethical Boardroom Corporate Governance award for sustainability and corporate governance standards.[152] In February 2018, Enel became title sponsor of the FIM MotoE World Cup, as well as Sustainable Power Partner of the MotoGP.[153][154] In March 2018, it invested $170 million in the construction of Peru’s largest solar PV plant.[155] In May 2018, Enel became a partner of the Osmose project for the development of integrated systems and services in the renewable energy industry.[156] In the same month, the company inaugurated Global Thermal Generation Innovation Hub&Lab in Pisa, a space for the development of innovative technologies of interest to thermal generation.[157] In May 2018, Enel won the final round of the tender offer for the acquisition of Eletropaulo.[158]
At the end of March 2019, Enel became the most valuable company on the Italian Stock Exchange, with a capitalisation of over €67 billion. On 23 September, the company was included in the STOXX Europe 50 index.[159] That same year, Enel's CEO Francesco Starace was awarded the "Manager Utility Energia 2019" prize by the Management delle Utilities e delle Infrastrutture (MUI) Italian magazine.[160]
In April 2022, Enel X Way was launched. It is the new business line of the Group and aims to accelerate the development of electric mobility and combine decarbonization, digitalization and electrification. The initiative was presented by CEO Elisabetta Ripa at Rome's Formula E Grand Prix.[161][162][163]
On May 22, 2023, Enel subsidiary Enel North America announced theTulsa Port of Inola as the future site of one of the largest solar cell and panel manufacturing plants in the U.S.[164] Enel expects to invest over $1 billion in the facility, creating 1,000 permanent jobs with the possibility of creating another 900 in a second phase.[164] Oklahoma officials have called this the biggest economic development project in the state.[164]
Enel is also active through 3Sun at the Catania Gigafactory, for which it signed a grant agreement with the European Commission in April 2022 under the first call of the EU Innovation Fund for large-scale projects. The project supports the development of TANGO (iTaliAN pv Giga factOry), which involves the construction of an industrial-scale plant for the production of advanced, sustainable, high-efficiency photovoltaic modules at the Catania Gigafactory. The expansion will increase production capacity from 200 MW to 3 GW per year, a fifteenfold growth.[165]
In June 2022, Enel completed its exit from the Russian market by signing two agreements for the sale of its stake in PJSC Enel Russia. Specifically, one sale contract was signed with PJSC Lukoil and another with the Closed Combined Mutual Investment Fund “Gazprombank-Frezia”. The divested stake, representing 56.43% of Enel Russia’s share capital, was sold for approximately €137 million. Through this transaction, Enel fully disposed of its electricity generation assets in Russia, including around 5.6 GW of conventional capacity and approximately 300 MW of wind power facilities at various stages of development.[166][167]
On 10 May 2023, Enel’s shareholders’ meeting approved the appointment of Paolo Scaroni as Chairman of the Board of Directors.[168][169]
On 12 May 2023, the newly appointed Board of Directors, chaired by Paolo Scaroni, held its first meeting. During the session, the Board appointed Flavio Cattaneo as CEO and General Manager.[170]
On 25 October 2023, through Enel Green Power, Enel finalized the sale of its assets in Romania to the Greek company Public Power Corporation S.A. The transaction was completed in accordance with the sale agreement signed on 9 March 2023.[171][172]
In May 2024, Enel announced the completion of the sale of its stakes in the power generation companies Enel Generación Perú and Compañía Energética Veracruz to Niagara Energy. The transaction was carried out through Enel Perú, which is controlled by Enel via the publicly listed Chilean company Enel Américas.[173][174] The following month, Enel also finalized the sale of its entire shareholding in Enel Distribución Perú and Enel X Perú. This transaction was concluded with North Lima Power Grid Holding, a company controlled by China Southern Power Grid International (HK) Co.[175]
In September 2023, Enel transferred 50% of its stake in Enel Green Power Australia to INPEX, establishing a joint ownership for the company.[176]
In December 2023, Enel, through Enel Green Power, completed the sale of 50% of its subsidiary Enel Green Power Hellas to Macquarie Asset Management. The deal led to the formation of a joint venture between the two parties to jointly manage Enel Green Power Hellas’s existing renewable generation portfolio and continue its development pipeline.[177]
In December 2024, Potentia Energy was established as a co-managed venture between Enel Green Power and INPEX, aimed at advancing renewable energy projects. The development pipeline includes more than 7 GW of planned capacity in wind, solar, energy storage, and hybrid systems.[178]
Osage Wind dugfoundations for wind turbines, crushed the rock and returned the dust to the earth.[179]
On 11 November 2014, the United States Attorney for the Northern District of Oklahoma filed suit against Enel's subsidiary Osage Wind LLC, an 84-turbine industrial wind project in Osage County, Okla.[180] In the suit, the United States alleges that Enel and Osage Wind are illegally converting minerals owned by theOsage Nation, a Native American tribe that has owned all mineral rights in the county since 1871.[181] The suit says that Osage Wind should have obtained a permit from theBureau of Indian Affairs before mining rock and other material for the pits in which turbine bases are built. The United States asked that all excavating on the 8,500-acre site cease and that dozens of turbines that are already being erected be removed.[182]Osage Wind has insisted that it is not mining and needs no permit. The company says that it has already spent nearly $300 million on the project, which is being built on privately owned fee land, not land held in trust for American Indians.[180]
Osage Wind LLC and a second and adjacent Enel wind project, Mustang Run, are also embroiled in cases pending before the Oklahoma Supreme Court in which the Osage Nation andOsage County, Oklahoma, are challenging the constitutional legitimacy of permits for both projects.[183][184]
In December 2024,United States Court of International Trade JudgeJennifer Choe-Groves ruled the defendants "liable for conversion, trespass and continuing trespass of the Osage Mineral Estate"[185] and ordered Enel to remove all of the turbines by December 2025.[185] Choe-Groves ruled Enel had "committed trespass by extracting minerals from the Osage illegally,"[186] and ordered Enel in addition to pay $300,000 in damages and millions in legal fees.[186] Enel immediately appealed the ruling.[187]
Enel had to exit theEl Salvador electricity market after a long dispute with the Government of El Salvador.[188]Article 109 of theConstitution of El Salvador states that underground natural resources are the country's property and the government should not allow a foreign company to be the sole proprietor of geothermic generation. Both parties came to a settlement in 2014, but no details have been released.
Enel had been demanding over €94 million from the Ministry of Economy of Slovakia in compensation for lost earnings it claims to have incurred as price proposals were rejected by the Slovakian Regulatory Office for Network Industries (URSO).[189]
In early 2022, Enel and acting CEOFrancesco Starace came under criticism for meeting in person with actingPresident of RussiaVladimir Putin to discuss massive Russian investments and sanction exemptions, just over a week prior to the2022 Russian invasion of Ukraine.[190]
Enel produces electricity from a number of energy sources includinggeothermal,wind power,solar power,hydroelectric power, thermal, andnuclear power.In 2024, Enel generated a total of 192 TWh of electricity, distributed 481.2 TWh, and sold 273.5 TWh.[191]
Enel is also engaged in research and development activities for the production and transmission of electricity. These include:
Enel is headquartered inRome and has been listed on theBorsa Italiana since 1999.Enel and its subsidiaries produce and distribute electricity and gas in 28 countries[197] aroundEurope,North America,South America,Asia, andAfrica.[198][199]
The company employs more than 60,000 people,[3] has more than 61 million customers worldwide (54.9 million in the electricity market, and 6.2 million in the gas market) and a net installed generating capacity of 88 GW.[200] Enel is the largest energy company in Europe by number of customers and the second by capacity, afterEdF.[198][201][202][203]
The Enel Group is organised in 4 business lines:
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For trading on international markets, as well as for the procurement and sale of energy products including gas, Enel owns 100% of Enel Trade, which in turn owns 100% of Enel Trade Romania, Enel Trade Croatia, and Enel Trade Serbia.[28][205]
Through Enel Trade, Enel also owns Nuove Energie, a company that specialises in the construction ofregasification plants.[28][205][206]
InItaly, Enel owns companies that produce, distribute and resell electricity:[205]
InFrance, Enel owns 5% of the French energy exchangePowernext.[209]
InSpain, through its subsidiary Enel Iberia Srl (previously known as Enel Energy Europe[210]), Enel holds 70.1% ofEndesa, acquired in 2009 with an initial stake of 92%.[211]The acquisition earned Enel the 2009 Platts Global Energy Award for "Deal of the Year".[212]In 2016, Endesa acquired Enel Green Power España from Enel for €1.207 billion.[213]
Enel has been operating inRussia since 2004.[214]It owns 56.4% ofEnel Russia (formerly OGK-5) and 49.5% of the electricity supplier RusEnergoSbyt, through Enel Investment Holding BV.[215][216]In 2013,Rosneft, through NGK Itera, bought 40% of Enel's stake in Arctic Russia BV, a company which owned 19.6% of SeverEnergia.[217] In March 2022, Enel announced it will cease operations in Russia.[218]
InArgentina, Enel holds a 41% share of Empresa Distribuidora Sur SA.[205][219]
InChile, Enel controls 61.99% of Empresa Electrica Panguipulli SA, 56.80% ofEnel Américas SA, 61.4% of Distribución Chile SA, 57.9% of Generación Chile SA, 61.9% of Enel Green Power Chile Ltd, 61.9% of Enel Green Power del Sur SpA, and 58.0% of Gas Atacama Chile SA.[220][221] In October 2023, it was announced Enel Chile had sold 416 MW of solar PV portfolio in Chile, to the multinational renewable energy producer, Sonnedix.[222]
InPeru, through Enel Perù SAC, Enel controls 47.2% of Enel Distribución Perù SAA and 47.5% ofEnel Generación Perú SA.[223]
On 7 April 2023, Enel announced that its subsidiary Enel Perú S.A.C. – controlled through the Chilean publicly traded company Enel Américas S.A. – entered into an agreement with China Southern Power Grid International (HK) Co., Ltd. for the sale of its equity interests in Enel Distribución Perú S.A.A. and in Enel X Perú S.A.C., for an aggregate amount of around 2.9 billion US dollars.[224]
On 22 November 2023, Enel also announced that its subsidiaries Enel Américas S.A. and Enel Perú S.A.C. – the latter under the control of Enel via the Chilean listed company Enel Américas – have finalized an agreement with Niagara Energy S.A.C. for the sale of all the shares held by Enel in Enel Generación Perú S.A.A. and Compañía Energética Veracruz S.A.C. The total value of the transaction was approximately 1.4 billion US dollars.[225]
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