Of the proposed investment, around €5.4bn will be for emerging markets and new technological solutions, such as digital meters and smart grids, across all geographies.
Enel plans to increase its renewable energy capacity by 50% to 7.1GW mostly in Latin America, North America and Africa.
The company also plans to launch new product and service offerings to drive its retail growth.
Commenting on the plan, Enel CEO Francesco Starace said: "The plan we are presenting today offers a compelling investment case. Our strategy is built upon Enel’s core strengths – our established position in emerging markets and our leadership in technology and digital distribution grids in more mature markets.
"These strengths will allow us to take advantage of demand growth in Latin America
and Africa driven by demographic trends and economic cycles, as well as rapidly evolving energy market dynamics, such as digitization, in mature economies."
Reuters reported that Enel is planning to sell €5bn worth of assets over the next five years.
Enel is in talks to sell 66% stake in Slovak power generator Slovenske Elektrarne. It is also planning to sell its renewable energy assets in the US.
Image: Enel plans to increase its renewable energy capacity by 50% to 7.1GW, mostly in Latin America, North America and Africa. Photo: courtesy of meepoohfoto / freedigitalphotos.
