Bogdan Tudorache

Enel has signed with UniCredit its first revolving credit line linked to the achievement of the UN Sustainable Development Goals (SDGs), an “SDG-Linked” loan agreement in the amount of 1 billion euro with a 5-year term.

The new credit line and the world’s first SDG-linked bond programme launched by Enel in September are intended to expand and diversify Enel’s sources of sustainable financing. This new approach to financing is part of the strategy of creating value through the integration of the SDGs into the Group’s business model, a strategy that has contributed to Enel’s growth and the reduction of its risk profile.

In its current Strategic Plan, Enel has focused on creating value through business choices that support the pursuit of the following four SDGs:

• SDG 7 “Affordable and clean energy”, with over 11.6 GW of additional renewable generation capacity;
• SDG 9 “Industry, innovation and infrastructure”, with over 46.9 million smart meters installed and 5.4 billion euros of investment in innovation and digitalisation;
• SDG 11 “Sustainable cities and communities”, with retail investment and new electrification-oriented energy services to achieve, among others, 9.9 GW of demand response capacity and 455,000 charging points for electric mobility;
• SDG 13 “Climate action”, with a commitment to reduce carbon dioxide emissions to below 0.350 kg/kWheq in 2020 and full decarbonisation by 2050.

The new credit line made available by UniCredit is intended to meet Enel’s ordinary financing needs, and is linked to the Group’s ability to achieve, by December 31st, 2021, a percentage of installed renewable generation capacity (on a consolidated basis) equal to or greater than 55% of total consolidated installed capacity. As of June 30th, 2019, the figure was already equal to 45.9%.