Enel has announced plans to invest €53bn ($63bn) between 2026 and 2028, with a primary focus on expanding its activities in Europe and the US.
This new investment figure marks a €10bn increase from its previous three-year plan.
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The Italian energy company will allocate half of this capital expenditure to power grid infrastructure, while around 38% will be directed towards renewable energy projects. The remainder of the funds will support other business operations.
The company’s management expects this investment strategy to support an increase in earnings per share (EPS) from an anticipated €0.69 in 2025 to between €0.80 and €0.82 by 2028.
Enel plans to raise its dividend by an average of 6% per year through 2028.
Enel’s board has also approved a share buyback programme worth up to €1bn, which is set for execution by July.
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By GlobalDataThis move follows the earlier authorisation from shareholders allowing up to €3.5bn for such programmes.
The majority of new grid investments will take place in Italy, with further allocations planned for Iberia and Latin America.
Enel Group CEO Flavio Cattaneo 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.
“Thanks to the clear visibility on group results and the execution of our share buyback programme, we expect to further increase shareholder remuneration, with an EPS that will increase to between €0.80 and €0.82 in 2028 and that will support dividend growth, through returns from international subsidiaries.”
