Enel to invest €5bn in renewable power generation in Brazil by 2023

Enel plans to invest more than €5 billion in Brazil between 2021 and 2023, mainly in opportunities in the renewable power generation and distribution segments. The amount, presented Tuesday in the annual meeting with investors, accounts for nearly half of what the Italian group expects to inject in all Latin America — it also operates in Argentina, Chile, Peru and Colombia. CEO Francesco Starace says the company sees room to expand in distribution in the country despite the relevant footprint it already has. The executive says Enel will actively study any asset put on sale. “Not all biddings will be interesting, either because of the position [of the distributor] in the country or the seller’s unrealistic expectation,” he said. The company has been rumored as a potential contender in the bidding of Companhia Energética de Brasília’s (CEB) power distributor, scheduled for December 4. The pipeline of privatizations also includes a concessionaire of Rio Grande do Sul-based state-owned CEEE and Amapá-based CEA.

Source: Valor International