Enel is a multinational power company and a leading integrated player in the global power and renewables markets. It is the largest European utility by ordinary EBITDA, and is present in over 30 countries worldwide, producing energy with around 89 GW of installed capacity.
The vision of Enel is to tackle some of the world’s biggest challenges as captured in the United Nations Sustainable Development Goals (SDGs). This is also reflected in Enel’s corporate purpose: “Open Power for a brighter future. We empower sustainable progress”. More specifically, Enel has directed its activities towards mitigating climate change (SDG 13) through decarbonising the production and consumption of energy, while simultaneously extending access to affordable and clean energy (SDG 7). The vision and mission of the Enel Group is outlined here.
Enel’s renewables arm Enel Green Power is the world’s largest renewable private player, with around 50 GW of wind, solar, geothermal, and hydropower plants installed in Europe, the Americas, Africa, Asia, and Oceania.
Enel’s strategy pursues shared value creation through its focus on decarbonising energy generation and electrifying energy consumption. Through this dual focus Enel aims to create shared value through mitigating climate change and expanding energy access.
Enel uses the Creating Shared Value (CSV) model in all global business lines to put its purpose of empowering sustainable progress into action and advancing the global energy transition. As part of its strategic commitment to combat climate change, Enel is investing heavily into expanding its renewable energy generation capacity. When developing new renewable energy projects, Enel applies the CSV model to ensure that these projects generate shared value. Enel’s approach to CSV and methodology best outlined in Enel Sustainability Report 2020 (page 126), here.
In Australia, Enel Green Power, operates the 275 MW Bungala Solar Farm in South Australia and the 34 MW Cohuna Solar Farm in Victoria. Enel Green Power has a pipeline of further wind and solar projects under development across Australia.