Italian energy company Enel announced the launch of its new 2026-2028 Strategic Plan, which includes plans to dramatically increase investment in renewable energy over the next three years.
Under the new plan, Enel said that it aims to invest approximately €53 billion (USD$63 billion) through 2028 – up by around €10 billion compared with the company’s prior 2023-2025 strategic plan – with a focus on grids, renewables and final customers through Greenfield and Brownfield investments.
Within its integrated business, Enel said that investments in renewables are expected to reach approximately €20 billion through 2028, with the company looking to add around 15 GW of new renewable capacity. The estimated investment would mark an €8 billion increase in renewables investment compared with the company’s prior strategic plan.
The company said that renewables investments would be focused in geographies characterized by significant growth in electricity demand, with around 50% of renewables capex planned for Europe, and the remaining capex in the other “ Tier 1 countries,” mainly the U.S.
Enel added that its projected renewables investment through the plan will include approximately 9 GW of greenfield projects and around 6 GW of brownfield, with about 75% of new capacity anticipated to be composed of wind and programmable technologies such as Battery Energy Storage Systems (BESS).
The new plan follows an announcement by Enel that it has signed agreements with clean energy infrastructure investor Excelsior Energy Capital for the acquisition of a portfolio of U.S.-based wind and solar plants for consideration of approximately $1 billion.
According to Enel, the acquired portfolio includes renewable energy assets with an overall installed capacity of 830 MW and an expected average output of around 2.1 TWh per year. The transaction values the portfolio at an enterprise value of around $1.3 billion.
Flavio Cattaneo, CEO of the Enel Group, said:
“Today Enel presents an ambitious and credible Strategic Plan with a sharp acceleration in growth thanks to an increase of Greenfield and Brownfield investments, which will lead to further improvement of the Group’s risk/return profile. The managerial actions carried out in the last three years provide us with the financial flexibility to invest in the most dynamic markets in terms of electricity demand.”
