We are at the forefront when it comes to accelerating the transition to clean energy: we are firmly committed to combating climate change, decarbonizing and electrifying energy consumption. And that commitment is encapsulated in the phrase that defines our mission: Build the future through sustainable power, environmentally, socially and financially. We are working toward the development and operation of renewable energy plants in order to cut emissions. We are doing this with on-shore wind, photovoltaic, hydroelectric, and geothermal energy. At the same time, we are investing in the hybridization of different technologies and sources at the same plant, by integrating with other sectors, and by looking for innovative solutions from a circular economy perspective, in giving a second life to old components. Furthermore, we are focusing on Battery Energy Storage Systems (BESS), and Pumped-storage hydroelectricity, both of which are needed in order to overcome the intermittency of renewable sources, improve grid flexibility and ensure security of supply. The stages in our growth By 2027, we plan to build approximately another 12 GW of renewable capacity. 21% will be located in Italy, 27% in Iberia, 5% in the rest of Europe, 21% in North America, 10% in Latin America, while 16% will be shared by Africa, Asia and Oceania. The technology mix will be 48% onshore wind, 27% photovoltaic, 19% BESS and 6% hydro. We will choose from the best projects in our 'pipeline' of no less than 308 GW, of which 117 GW is already at a mature stage. This will bring us to a total of about 76 GW of capacity, increasing renewable generation by more than 15%. This is responsible energy. In terms of gross investment in renewables, roughly 65% will be allocated to Europe (with about 34% in Italy and about 31% in Iberia). And, in line with the Enel Group’s goal of completing the phase-out from coal in 2027, we will transform old power plants into new energy hubs, by using the best available technologies and respecting the needs of the electricity system. Our most ambitious goal is, however, to reach Net Zero by 2040, with 100% green energy production. Innovation and sustainability Innovation is central to our strategy, and we plan to bring this about by collaborating with start-ups around the world, and by leveraging repowering, the improvement of plant efficiency, to increase production and reduce generation costs. With storage systems, we can also improve the stability of the electricity system, enabling the continued growth of renewables. We want to promote an energy transition that’s equitable, transparent, and without inequality, that’s capable of unleashing talents and passions, enhancing uniqueness, strengthening ties with communities, and engaging customers and suppliers. People are our first resource, so we share with them, both inside and outside Enel Green Power, the values that guide our daily commitment: trust, innovation, proactivity, flexibility and respect. We are working toward the creation of shared value with all stakeholders, from shareholders to the communities where we have a presence with our plants, and we have made our business model sustainable, along the entire value chain, in different geographical, economic and social contexts. Thanks to the work of our people, technological innovation and internationally recognized operational excellence, we are building our future every day. While doing so, we are fully aware of our growth potential, in terms of installed capacity, operational performance, and the creation of value for everyone.
