04 December 2018

Enel/Endesa utility briefing

A briefing for investors, insurers and banks

This briefing paper presents analysis and recommendations to assist investors and banks in achieving a coal phase-out from the Enel group in line with the climate targets of the UN Paris Climate Agreement and protecting citizen’s health.

Enel owns a 70.1% majority share in Endesa. Both utilities are addressed together in this briefing, but the findings are of interest for investors that finance either or both Enel and Endesa.

The briefing gives an overview of the two utilities’ power mix and existing coal plant fleet; financial risks that the power assets are confronted with; pathways for aligning the utilities’ coal plant fleet with the Paris Agreement; and actions that banks, insurers and investors are takingor must take.