Latest news with #EnelGroup
Reuters
08-05-2025
- Business
- Reuters
Enel focuses on share buyback, Italian licence after steady Q1
MILAN, May 8 (Reuters) - Enel ( opens new tab is focused on introducing a share buyback plan and negotiating an extension of its network licence in Italy, the utility's management said on Thursday after steady first-quarter results. Following the example of oil and gas majors, the state-controlled group will urge shareholders at an annual meeting on May 22 to approve a plan worth up to 3.5 billion euros ($3.9 billion) to repurchase its own shares. On the same day investors will also vote on the introduction of an option to cancel acquired shares without reducing the group's share capital, making the buyback another way of rewarding shareholders in addition to dividends. "I hope the plan will be approved on May 22," Enel's Chief Financial Officer Stefano De Angelis told analysts at a post-result conference call. De Angelis also said the company is holding talks with Italian authorities over securing a 20-year extension of its distribution power licence in its home country. Enel will devote part of the financial space it has secured by cutting its net debt to the licence renewal, and may also deploy some capital in Spain, the CFO said. The group reported ordinary earnings before interest, taxes, depreciation and amortisation (EBITDA) of 5.97 billion euros for the first quarter, slightly above an analyst consensus of 5.90 billion compiled by LSEG. Ordinary EBITDA for the first quarter of last year was revised to 5.87 billion euros, down from 6.09 billion euros, to take out the effects of recent disposals. Better-than-expected results at Enel's Spanish unit Endesa ( opens new tab and healthy growth both in Latin America and the United States more than offset a fall in ordinary EBITDA in Italy, where the utility cut power prices by 30-40% to retain customers. De Angelis said the group expects the performance of its retail business in Italy to stabilize in the coming quarters. Chief Executive Flavio Cattaneo, who was appointed two years ago, said the January-March period marked the seventh consecutive quarter of positive financial results. Enel confirmed its guidance for ordinary EBITDA of between 22.9 billion and 23.1 billion euros for the whole 2025. ($1 = 0.8918 euros)
Gulf Business
25-03-2025
- Business
- Gulf Business
Masdar, Endesa expand partnership for Dhs1.4bn renewable energy deal
Image: Supplied Masdar has reached an agreement with Endesa to acquire a 49.99 per cent stake in four solar plants in Spain. The plants have a combined capacity of 446 megawatts (MW). The deal, which is subject to regulatory approvals and other conditions, will see Masdar invest Dhs702m (EUR184m) for the stake in the solar assets, which have an enterprise value of Dhs1.4bn (EUR368m). This acquisition marks a significant milestone in Masdar's expansion in the Iberian Peninsula and across Europe. We are delighted to announce our expanded partnership with — Masdar (@Masdar) Strategic move for growth in Europe The proposed acquisition follows a previous agreement between Masdar and Endesa, which was signed last year. The two companies partnered on a portfolio of over 2 gigawatts (GW) of solar assets, with the potential to add an additional 0.5GW of battery storage. The partnership was one of Spain's largest renewable energy transactions in recent years. Mohamed Jameel Al Ramahi, CEO of Masdar, commented: 'This acquisition further reflects Masdar's commitment to supporting Europe's decarbonisation goals and advancing the global energy transformation. It also marks another significant step in our strategic expansion in the Iberian Peninsula and Europe, adding to our growing portfolio on the continent. 'Strengthening our partnership with Endesa positions us to unlock new renewable energy opportunities across Europe and beyond, while driving sustainable growth and boosting prosperity.' Strengthening partnerships for energy transition Flavio Cattaneo, CEO of Enel Group, which owns Endesa, said: 'With this transaction, we are renewing the cooperation launched last year with a major player such as Masdar. The agreement signed today demonstrates our commitment to accelerate the energy transition also in partnership with large international industrial groups, in line with our strategic plan.' The ongoing partnership between Masdar and Endesa is expected to play a key role in helping Spain meet its National Energy and Climate Plan (NECP) targets. Masdar has been active in the Iberian Peninsula in recent years, acquiring Saeta, a renewable energy platform with an operating portfolio of 745MW, primarily wind assets, and a 1.6GW development pipeline across Spain and Portugal. With this latest acquisition, Masdar's total operational capacity in the Iberian Peninsula reaches 3.2GW. Masdar-Endesa: Supporting the EU's net-zero targets Masdar remains committed to supporting the European Union's 2050 net-zero targets. Last month, the company signed a memorandum of understanding (MoU) with Enel Group, which owns Endesa, to explore potential renewable energy opportunities in countries such as Italy, Spain, and Germany. This latest acquisition further solidifies Masdar's role as a key player in Europe's clean energy transition, contributing to the region's renewable energy goals and sustainable growth. Read:
Zawya
25-03-2025
- Business
- Zawya
Masdar to expand Endesa partnership in $381mln renewable energy transaction
MADRID - Abu Dhabi Future Energy Company PJSC – Masdar, the UAE's clean energy leader, announced today an agreement with Endesa S.A. to acquire a 49.99 percent stake in four solar plants in Spain, with a total capacity of 446 megawatts (MW). The transaction, which is subject to regulatory approvals and other conditions, would see Masdar invest AED702 million (€184 million) for the stake in the assets, which have an enterprise value of AED1.4 billion (€368 million). These operating assets mark a significant milestone in Masdar's continued growth in the Iberian Peninsula and across Europe, and further its commitment to advancing the region's renewable energy ambitions. The proposed acquisition follows last year's agreement between Masdar and Endesa to partner in a portfolio of over 2GW of solar assets, with the potential to add 0.5GW of battery storage, in one of Spain's biggest renewable energy transactions in recent years. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: "This acquisition further reflects Masdar's commitment to supporting Europe's decarbonisation goals and advancing the global energy transformation. It also marks another significant step in our strategic expansion in the Iberian Peninsula and Europe, adding to our growing portfolio on the continent. Strengthening our partnership with Endesa positions us to unlock new renewable energy opportunities across Europe and beyond, while driving sustainable growth and boosting prosperity.' 'With this transaction, we are renewing the cooperation launched last year with a major player such as Masdar,' Flavio Cattaneo, Enel Group CEO, said. 'The agreement signed today demonstrates our commitment to accelerate the energy transition also in partnership with large international industrial groups, in line with our Strategic Plan.' Masdar's continued partnership with Endesa is expected to play a significant role in helping Spain meet its National Energy and Climate Plan (NECP) targets. Last year, Masdar also acquired Saeta, an established renewables platform with an operating portfolio of 745MW of predominantly wind assets, and a 1.6GW development pipeline in Spain and Portugal. This latest transaction brings Masdar's total operational capacity in the Iberian Peninsula to 3.2GW. Masdar is committed to supporting the EU reach its 2050 net-zero targets. Last month, Masdar and global energy leader Enel Group, to which Endesa belongs, signed a Memorandum of Understanding (MoU) to explore potential renewable energy opportunities in countries including Italy, Spain, and Germany. HM
Al Etihad
24-03-2025
- Business
- Al Etihad
Masdar to expand Endesa Partnership in Dh1.4 billion renewable energy transaction, strengthening presence on Iberian Peninsula
24 Mar 2025 22:59 MADRID (WAM)Abu Dhabi Future Energy Company PJSC – Masdar, the UAE's clean energy leader, announced today an agreement with Endesa S.A. to acquire a 49.99 percent stake in four solar plants in Spain, with a total capacity of 446 megawatts (MW). The transaction, which is subject to regulatory approvals and other conditions, would see Masdar invest Dh702 million (€184 million) for the stake in the assets, which have an enterprise value of Dh1.4 billion (€368 million).These operating assets mark a significant milestone in Masdar's continued growth in the Iberian Peninsula and across Europe, and further its commitment to advancing the region's renewable energy ambitions. The proposed acquisition follows last year's agreement between Masdar and Endesa to partner in a portfolio of over 2GW of solar assets, with the potential to add 0.5GW of battery storage, in one of Spain's biggest renewable energy transactions in recent Jameel Al Ramahi, Chief Executive Officer of Masdar, said: "This acquisition further reflects Masdar's commitment to supporting Europe's decarbonisation goals and advancing the global energy transformation. It also marks another significant step in our strategic expansion in the Iberian Peninsula and Europe, adding to our growing portfolio on the continent. Strengthening our partnership with Endesa positions us to unlock new renewable energy opportunities across Europe and beyond, while driving sustainable growth and boosting prosperity.''With this transaction, we are renewing the cooperation launched last year with a major player such as Masdar,' Flavio Cattaneo, Enel Group CEO, said. 'The agreement signed today demonstrates our commitment to accelerate the energy transition also in partnership with large international industrial groups, in line with our Strategic Plan.'Masdar's continued partnership with Endesa is expected to play a significant role in helping Spain meet its National Energy and Climate Plan (NECP) targets. Last year, Masdar also acquired Saeta, an established renewables platform with an operating portfolio of 745MW of predominantly wind assets, and a 1.6GW development pipeline in Spain and Portugal. This latest transaction brings Masdar's total operational capacity in the Iberian Peninsula to 3.2GW. Masdar is committed to supporting the EU reach its 2050 net-zero targets. Last month, Masdar and global energy leader Enel Group, to which Endesa belongs, signed a Memorandum of Understanding (MoU) to explore potential renewable energy opportunities in countries including Italy, Spain, and Germany.
Yahoo
14-03-2025
- Business
- Yahoo
Vicunha Makes Significant Strides in Decarbonization
The largest producer of denim in Latin America is taking a leap toward renewable energy. Vicunha announced on Thursday that its company's manufacturing facilities in northeast Brazil will soon consume 100 percent renewable energy under an agreement signed with the Enel Group, one of the largest private companies in the Brazilian electricity sector. More from Sourcing Journal The Road to Decarbonization? It's Electrifying! Can Brazil Be a New Hub for Denim Production? Powering Vietnam's Renewables: H&M Signs Green Energy Agreement This agreement allows Vicunha to generate clean energy to sustainably meet its consumption needs. Starting mid-year, clean energy will power the multinational company's three factories located in the cities of Maracanaú, Pacajus, and Natal. The partnership will enable the self-production of energy from five wind power plants in the state of Piauí. As one of the top three global denim producers, Vicunha's transition to renewable energy plays a pivotal role in advancing a low-carbon economy. 'We are constantly seeking ways to contribute to a more sustainable fashion industry by optimizing resources such as energy, water, and raw materials like cotton. The decarbonization strategy for our manufacturing plants represents a major step forward in this regard,' said Marcel Imaizumi, Vicunha operations and new business director. The strategy aligns with Vichuna's overall sustainability mission including efforts to produce denim with reclaimed water and to support regenerative agriculture. The deal was negotiated by Enel Comercializadora e Trading, which provides energy solutions for consumers in the free energy market. The company is among the top three energy traders in Brazil, holding a 7.5 percent market share. It was approved in late February by the Administrative Council for Economic Defense, a federal agency under the Ministry of Justice responsible for ensuring free market competition in Brazil. Enel has been a part of the fashion industry's decarbonization efforts. In 2019, Gap Inc. announced a virtual power purchase agreement with Enel Green Power, a division of Enel Group, to purchase the electricity equivalent of a 90 MW portion of its Aurora wind farm each year. 'We are committed to assisting businesses across all productive sectors in their sustainability agendas, aligning ESG goals with economic benefits,' said Francisco Scroffa, head of Enel's non-regulated energy market in Brazil. 'Enel offers a diverse portfolio capable of serving companies with different profiles, expanding our network of partners in the decarbonization journey.'
