Energy Giant Enel Invests €53B in Clean Power by 2028

Italian energy leader Enel is betting big on the clean energy future with a €53 billion investment plan that will dramatically expand renewable power from 2026 to 2028.

The Rome-based company plans to add 15 gigawatts of new wind, solar, and battery storage capacity. That's enough clean electricity to power roughly 15 million homes, bringing Enel's total renewable energy portfolio to over 80 gigawatts by 2028.

More than €26 billion will flow into building new renewable energy projects and upgrading existing facilities. Wind farms and battery storage will receive the lion's share, accounting for over 75% of new installations across Italy, Spain, and Latin America.

Another €26 billion will modernize electrical grids in regions experiencing rapid growth in electricity demand. Italy gets 55% of grid investments, with Spain and Latin American countries splitting the remainder.

The investment represents a €10 billion increase over Enel's previous three-year plan. CEO Flavio Cattaneo credits careful management over the past three years for creating the financial flexibility to accelerate growth in the company's most dynamic markets.

The Ripple Effect

This isn't just about one company's expansion. Enel's massive investment signals growing confidence in renewable energy economics even as the industry matures.

The plan will create construction jobs across multiple continents while building the infrastructure needed for countries to meet their climate commitments. As Enel upgrades grids and adds storage capacity, communities gain more reliable power and protection against blackouts.

Customer benefits extend beyond environmental gains. Enel expects to serve 26 million customers in competitive energy markets by 2028, up from 23 million today, giving more households access to renewable energy options.

The company achieved all its 2023-2025 targets while reducing debt and strengthening its financial position. That track record gives credibility to its promise of continued growth beyond 2028, with a commitment to reach net zero emissions across all operations by 2040.

Over 90% of Enel's expected earnings through 2028 will come from regulated or long-term contracted activities, providing stability for continued clean energy expansion. The energy transition is moving from aspiration to infrastructure, one massive investment at a time.