Enel and Santander subscribe their first global deal to support guests’ clean energy transition

Enel and Santander subscribe their first global deal to support guests’ clean energy transition

Enel and Santander have inked a memorandum of understanding ( Scowl) promoting collaboration between the two groups, aimed at supplying and financing solar installations, lithium batteries and energy effectiveness results for homes, SMEs and pots. Under the MoU, Enel, through Enel X Global Retail, the Group’s advanced energy services business line, will design customized turnkey results for guests while Santander will give them with customized backing. The two leading groups will help accelerate the energy transition of guests towards further sustainable models by supporting them in the optimization of their energy consumption.
Alberto De Paoli, Enel Group CFO, said upon subscribing the agreement “ Through our cooperation with a estimable backing institution similar as Santander, we’re taking yet another step towards the achievement of a Net Zero society. Sustainability as a business choice can only be pursued through invention, which is at the core of this agreement.”

José M Linares, elderly administrativevice-president at Banco Santander and global head of Santander Corporate & Investment Banking (Santander CIB) said “ We’re thrilled to unite with a longtime mate similar as Enel to further support our guests worldwide in their transition to further sustainable energy models. As settlers in renewable energy finance, Santander CIB is committed to accelerating this metamorphosis.”
Enel is formerly the world’s largest private green energy player with around 54 GW of installed renewable (1) capacity worldwide and is planning to roughly treble that quantum by 2030. By completely decommissioning its thermal line alongside exiting gas retail conditioning by 2040, the Group has a Net Zero commitment to that time both for direct and circular emigrations.

Santander aims to raise or grease 120 billion euros in green finance between 2019 and 2025 and 220 billion euros by 2030 as part of its responsible banking docket and its support for its guests transitioning to a low- carbon frugality. The bank is formerly carbon neutral in its own operations. To reach net-zero emigrations for the whole group by 2050 in support of the Paris Agreement objects and the transition to a low- carbon frugality, Santander will align its power generation portfolio with the Paris Agreement by 2030.
About Enel

Enel is a transnational power company and a commanding intertwined player in the global power and renewables requests. It’s the largest European mileage by ordinary EBITDA, and is present in over 30 countries worldwide, producing energy with over 90 GW of installed capacity. Enel distributes electricity through a network of over2.2 million kilometers, and with further than 75 million end druggies is the first network driver globally1. Enel’s renewables arm, Enel Green Power, is the world’s largest renewable private player, with a managed capacity of around 54 GW of wind, solar, geothermal, hydropower and storehouse shops in Europe, the Americas, Africa, Asia, and Oceania. Enel X Global Retail, Enel’s global advanced energy services business line, is the worldwide demand response leader, with a total capacity of around7.7 GW managed encyclopedically; the company has installed 195 MW of storehouse capacity. In the electric mobility sector, the new Globale-Mobility business line manages around EV charging points2 around the globe.
1Publicly possessed drivers not included.

2Public and private charging points, including interoperability points.
About Banco Santander

Banco Santander (SAN SM, STD US, BNC LN) is a leading marketable bank, innovated in 1857 and headquartered in Spain. It has a meaningful presence in 10 core requests in the Europe, North America and South America regions, and is one of the largest banks in the world by request capitalization. Santander aims to be the stylish open fiscal services platform furnishing services to individualities, SMEs, corporates, fiscal institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, particular and fair way. Santander is erecting a more responsible bank and has made a number of commitments to support this ideal, including raising over€ 120 billion in green backing between 2019 and 2025, as well as financially empowering further than 10 million people over the same period. At the end of 2021, Banco Santander had€1.15 trillion in total finances, 153 million guests, of which25.4 million are pious and47.4 million are digital, branches and workers.
Santander Corporate & Investment Banking (Santander CIB) is Santander’s global division that supports commercial and institutional guests, offering acclimatized services and value- added noncommercial products suited to their complexity and complication, as well as to responsible banking norms that contribute to the progress of society.