The Enel Group

Enel is Italy's largest power company, and Europe's second listed utility by installed capacity. It is an integrated player, active in the power and gas sectors. Enel today operates in 40 countries worldwide, has about 96,000 MW of net installed capacity and sells power and gas to more than 61 million customers.

Business overview

In 2010, Enel posted revenues of more than 73 billion euros (+14.0% compared with 2009), EBITDA of 17.5 billion euros (+6.8% compared with 2009) and net ordinary income of around 4.4 billion euros (+5.0% compared with 2009). As of December 31st, 2010, the Group has over 78,000 employees and operates a wide range of hydroelectric, thermoelectric, nuclear, geothermal, wind-power, photovoltaic and other renewables' plants. About 47% of the power generated by Enel is carbon free.
Enel is strongly committed to the development of renewable energy sources and to the development of new environmental friendly technologies. Enel Green Power is the Group's publicly listed⁽¹⁾ Company dedicated to the development and management of power generation from renewable energy, operating over 6,100 MW of installed capacity relying on hydro, wind, geothermal, solar, biomass and
co-generation sources in Europe and the Americas. Enel was the first utility in the world to replace its 32 million Italian customers' traditional electromechanical meters with modern electronic devices that make it possible to take meter readings in real time and manage contractual relationships remotely. This innovation, which is key to the development of smart grids, has attracted interest from many utilities around the world. In Spain, Endesa is about to install 13 million electronic meters to its customers by 2015.

Shareholding structure

Listed on the Milan stock exchange since 1999, Enel has the largest number of shareholders of any Italian company, at about 1.5 million retail and institutional investors in 2010. The most important Enel's shareholder is the Italian Ministry for the Economy and Finance with 31.24% of the Company. Thanks to its Code of Ethics, Sustainability Report, its environmental protection policy and the adoption of international best practices for transparency and corporate governance, Enel's shareholders include leading international investment funds, insurance companies, pension funds and ethical funds.

Global Presence

After having completed its international expansion, Enel is now actively engaged in consolidating the acquired assets and further integrating its businesses. The Enel Group has a presence in 40 countries over 4 continents. In Spain, Enel owns 92.06% of the share capital of Endesa, the leading power company of the country and first private power company in Latin America. Furthermore, Enel Green Power runs operations in the renewables field in Spain and Portugal. Enel, through Enel Green Power, is one of the largest renewable independent operators in the Americas with Enel Green Power North America and Enel Green Power Latin America, two companies that have around 1,500 MW of installed capacity. In North America Enel North America has 788 MW of hydroelectric, wind, biomass and geothermal power generation.
 
In Latin America Enel Latin America operates 669 MW of hydroelectric and wind power plants. Through Endesa, the Enel Group is among the leading players in Latin America around 16 GW installed capacity from thermoelectric, large hydro and other renewables, of which 4.4 GW in Argentina, 1 GW in Brazil, 5.6 GW in Chile, 2.9 GW in Colombia and 1.8 GW in Peru.
 
In France, Enel is present today in the French nuclear sector via a 12.5% stake in the new generation Evolutionary Pressurized Reactor (EPR), whose first plant (1,600 MW) is currently being constructed at Flamanville, in Normandy. In the same country, Enel is also present in the renewables sector through Enel Green Power with 102 MW of operational wind turbines and a pipeline up to around 1,000 MW. In the power trading sector, Enel owns around 5% of the French power stock exchange Powernext. Over more, the company supplied 5.6 TWh to major French consumers in 2010.
 
In Slovakia, Enel owns 66% of Slovenské elektrárne (SE), the largest electricity generator in the country, and the second-largest in Central and Eastern Europe, with a generation capacity of 5,401 MW, a well-balanced mix of nuclear, thermal and hydro assets.
 
In Romania, Enel sells electricity through Enel Energie and Enel Energie Muntenia. It distributes electricity through Enel Distributie Banat, Enel Distributie Dobrogea and Enel Distributie Muntenia. Overall, the group has 2.6 million customers in the country. In the same country, Enel operates in the renewables sector through Enel Green Power, with 64 MW of installed wind capacity.
 
In Russia, Enel is a vertically integrated operator from upstream gas to generation and sale of electricity. In the upstream sector, through SeverEnergia (a consortium of which Enel holds 19.6%) Enel operates a group of promising natural gas fields. Currently, Enel owns 56.43% of Enel OGK-5, formerly known as JCS Fifth Generation Company of the Wholesale Electricity Market ("OGK-5"). Enel OGK-5 has four thermoelectric power plants for about 8,200 MW. The plants are positioned in the highest growth rate areas of the country. In the power sale sector, Enel owns 49.5% of RusEnergoSbyt, the most important Russian trader, providing electricity to major industrial customers.
 
⁽¹⁾ As from November 4th, 2010, in Italy and Spain.
 
((Unless otherwise indicated, this report relies on data from December 31st, 2010).