Enel Bogota Region investment plan

Company News    Aug 16, 2021 11:23 AM

Enel Bogota Region, the brand name under which the new company of Grupo Energia Bogota (GEB) and Enel Americas will operate, announced its investment plans.

The company plans to invest more than CoP$2T in its operation in Colombia and the region, with special attention to the development of clean sources, Portafolio reported.

Lucio Rubio, CEO of Enel Colombia, and GEB’s Juan Ricardo Ortega, explained how the joint operation of the new company will be developed.

Rubio said that the new company will allow the growth of more than 50% of the installed capacity of Enel-Emgesa, amounting to more than 5,000MW of total installed capacity by 2023.

The expert said that the company will promote mass and individual electric mobility megaprojects, automation and digitization of electricity grids, new services for customers, and provide energy efficiency and transformation solutions, among others.

Ortega said that the new brand will create greater synergies, developing joint business for the benefit of GEB and Enel.

“It will drive energy transformation with lighting, mobility, intelligent transportation and traffic management systems, electric charging stations, and data analytics,” Ortega said.

Ortega highlighted that the joint bet will be on renewables with solar projects such as El Paso, La Loma and Guayepo, and wind projects Windpeshi, Chemesky and Tumawind.

“We will participate in future renewable auctions and will look for opportunities abroad. In addition, the new company will have 2GW of additional pipeline and full access to economies of scale,” Ortega said.

The executive said that the new company will be 22.9% larger in terms of operating profitability (EBITDA) vs. the current Emgesa and Codensa in 2025, 25.1% larger in terms of earnings and 52.6% larger in terms of installed capacity, with a focus on unconventional renewables.

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