Enel Américas

Enel Américas is a Chilean publicly traded electricity company and one of the principal private energy groups operating in Latin America. Its business is organized through affiliates that generate, transmit and distribute electricity, with additional activities in renewable energy, energy efficiency, public lighting and electric mobility. The company is controlled by Enel S.p.A., the Italian multinational energy group, and represents the part of Enel's Latin American portfolio located principally outside Chile; Chilean operations were separated into Enel Chile during the corporate restructuring completed between 2015 and 2016. The company's institutional history reaches back to the restructuring of Compañía Chilena de Electricidad in 1981 and the subsequent privatization of its metropolitan distribution subsidiary. In 1987, the business was reorganized into an investment holding structure, and in 1988 one of the resulting companies adopted the name Enersis S.A. Enersis expanded beyond regulated Chilean distribution into generation, engineering, information technology, commercial services and electricity businesses in other Latin American markets. The group subsequently developed a regional portfolio through acquisitions and investments in Argentina, Brazil, Colombia and Peru. Enel became the controlling shareholder after acquiring Endesa in 2014. A major restructuring then separated Chilean generation and distribution from the group's other Latin American activities. The continuing non-Chilean company became Enel Américas, while Enel Chile assumed the Chilean assets. Enel Américas later increased its scale through the acquisition of AES Eletropaulo in Brazil, one of South America's largest electricity distributors, and through the incorporation of Enel Green Power's Central and South American renewable-energy operations, excluding Chile. Its operating portfolio includes generation assets in Brazil, Colombia and Peru; distribution companies in Argentina, Brazil, Colombia and Peru; and transmission infrastructure linking Argentina and Brazil. The group also established Enel X activities in Colombia and Brazil to develop services such as public lighting, photovoltaic systems, energy-efficiency projects, heating and cooling solutions, and electric-vehicle charging infrastructure. These offerings extend the business beyond the conventional sale and distribution of electricity. At the end of 2022, Enel Américas reported approximately 16,116 MW of net installed capacity and service to more than 23.3 million customers, according to the cited company reference material. Its portfolio and geographic exposure have continued to change through an asset-rotation and decarbonization program, including the sale of a Brazilian gas-fired plant and the disposal of Enel Distribución Goiás. Enel's wider strategic plan also identified intended disposals in Argentina, Peru and Brazil. The company remains listed in Chile on the Santiago Stock Exchange and the Chilean Electronic Stock Exchange. It withdrew its American depositary receipt program from the New York Stock Exchange in 2022 and completed its U.S. securities deregistration process in 2023. Enel Américas presents sustainability, decarbonization and renewable-energy integration as important elements of its strategy. It has been included in sustainability indices and received strong ratings in assessments referenced by the company, including the Dow Jones Sustainability Index family, FTSE4Good indices and the Carbon Disclosure Project.

Enel Américas emerged from the long transformation of Chile's electricity industry and the regional expansion of the Enersis group. On June 19, 1981, Compañía Chilena de Electricidad was reorganized into a parent company and three subsidiaries. One of those subsidiaries was Compañía Chilena Metropolitana de Distribución Eléctrica. The Chilean government's privatization program began transferring that company's capital to private ownership in 1985, with the process completed on August 10, 1987. Pension funds, employees, institutional investors and numerous individual shareholders participated in the privatization. The 1987 restructuring changed the business from a narrowly focused electricity distributor into a broader investment holding company. The board proposed separate divisions for the parent company's activities, and an extraordinary shareholders' meeting approved new corporate purposes on November 25, 1987. On August 1, 1988, one of the companies created through the reorganization adopted the name Enersis S.A. It was organized into business units covering distribution, engineering and construction, real estate administration, information technology, data processing and electricity-product supply and marketing. Chilectra and Río Maipo handled distribution, Manso de Velasco focused on engineering and construction, Synapsis covered information technology, and Diprel worked in electricity-related commercial services. Enersis progressively expanded beyond Chile through investment in electricity generation, distribution and related infrastructure in Latin America. Its corporate purpose was also broadened in 2002 to include telecommunications, information technology, Internet-based business intermediation and administration of companies in those areas. Although some of these activities were later reduced or reorganized, the period established the holding-company model that allowed the group to manage businesses across multiple regulated and competitive markets. A decisive ownership change occurred in October 2014, when Enel acquired Endesa and became the controlling shareholder of Enersis. Beginning in April 2015, Enersis undertook a corporate restructuring that separated the Chilean electricity-generation and distribution operations from the businesses in other countries. The process was completed in December 2016. Enel Américas became the continuing company for the regional portfolio, while Enel Chile was established for the Chilean generation and distribution assets. The company expanded in Brazil through the purchase of AES Eletropaulo, a major São Paulo distribution company serving approximately 7.2 million customers. In April 2019, shareholders approved a US$3 billion capital increase to finance the transaction and related pension liabilities in Enel Brasil. Approximately 99.5% of the offering was subscribed by September of that year. Renewable energy was brought more directly into the company's consolidated structure through the merger of EGP Américas into Enel Américas. Shareholders approved the transaction on December 18, 2020, and it became effective on April 1, 2021. The transaction placed Enel Green Power's Central and South American generation assets, apart from Chile, within Enel Américas. In 2022 and 2023, the company pursued portfolio simplification, capital-market restructuring and decarbonization. It sold the Termofortaleza gas-fired plant in Brazil to Eneva and disposed of Enel Distribución Goiás to Equatorial Energia. The wider Enel strategic plan also identified planned sales of operations in Argentina and Peru and the Brazilian distribution company Enel Ceará. Enel Américas delisted its American depositary shares from the NYSE in 2022, cancelled the ADR program and completed U.S. securities deregistration in 2023. The current company operates through generation, distribution and transmission affiliates across Latin America. Its generation portfolio includes operations in Brazil, Colombia and Peru; its distribution network includes Argentina, Brazil, Colombia and Peru; and Enel Cien operates the Argentina–Brazil interconnection. In parallel, Enel X subsidiaries in Colombia and Brazil develop public-lighting projects, distributed photovoltaic systems, energy-efficiency solutions and electric-mobility infrastructure. The company has also emphasized environmental, social and governance performance, reporting recognition in sustainability indices and climate-disclosure assessments.

• 2023

  U.S. securities deregistration completed

  [1]Enel Américasen.wikipedia.org

  The company's deregistration process with the U.S. Securities and Exchange Commission was completed after the filing of Form 15F.

• 2022

  Enel Colombia merger

  [1]Enel Américasen.wikipedia.org

  Emgesa, Codensa, Enel Green Power Colombia and ESSA2 were merged by absorption into Enel Colombia. Enel Américas held a 57.345% stake in the resulting company.

• 2022

  NYSE ADR program discontinued

  [1]Enel Américasen.wikipedia.org

  The company's ADRs were delisted from the NYSE in June and the ADR program was cancelled in July.

• 2021

  EGP Américas merger becomes effective

  [1]Enel Américasen.wikipedia.org

  The incorporation of EGP Américas became effective, consolidating relevant renewable-energy assets in Central and South America under Enel Américas.

• 2019

  Capital increase completed

  [1]Enel Américasen.wikipedia.org

  A US$3 billion capital increase was approved in April and completed in September with approximately 99.5% subscription.

• 2016

  Regional restructuring completed

  [1]Enel Américasen.wikipedia.org

  The restructuring separated Chilean generation and distribution from the regional businesses, with Enel Américas continuing the non-Chilean portfolio.

• 2014

  Enel becomes controlling shareholder

  [1]Enel Américasen.wikipedia.org

  Following Enel's acquisition of Endesa, Enersis came under the control of the Italian Enel Group.

• 1988

  Enersis name adopted

  [1]Enel Américasen.wikipedia.org

  One company created through the preceding corporate division changed its name to Enersis S.A. and organized its activities into multiple operating affiliates.

• 1987

  Privatization and holding-company restructuring

  [1]Enel Américasen.wikipedia.org

  The metropolitan distribution business was transferred to private ownership, and the company began restructuring into business divisions and an investment holding company.

• 1981

  Reorganization of Compañía Chilena de Electricidad

  [1]Enel Américasen.wikipedia.org

  Compañía Chilena de Electricidad was reorganized into a parent company and three subsidiaries, establishing the institutional antecedent of the later Enersis and Enel Américas structure.

A large integrated private electricity group serving Latin American markets, combining regulated distribution networks with generation, transmission, renewable energy and technology-enabled energy services.

• Energy generation

  Electricity generation

  Enel Américas generates electricity through affiliates in Brazil, Colombia and Peru. The portfolio includes conventional and renewable assets, with renewable generation brought more directly into the company's consolidated structure through the 2021 incorporation of EGP Américas. Generation is sold into national or regional electricity markets and supports the group's integrated utility model.

• Electricity networks

  Electricity distribution

  Distribution is conducted through regulated network companies serving residential, commercial and industrial customers. The portfolio includes Edesur in Argentina; Enel Distribución Rio, Enel Distribución Ceará and Enel Distribución São Paulo in Brazil; Enel Colombia; and Enel Distribución Perú. These businesses operate local networks, connect customers and deliver electricity under national regulatory frameworks.

• Transmission infrastructure

  Electricity transmission

  The company participates in electricity transmission through Enel Cien, an Enel Brasil affiliate associated with the interconnection between Argentina and Brazil. This infrastructure supports cross-border electricity exchange and complements the group's generation and distribution activities.

• Energy services · 2018

  Enel X energy services

  Enel X activities in Colombia and Brazil develop technology-enabled services outside the conventional sale of electricity. The offering can include public-lighting tenders, photovoltaic systems, energy-efficiency projects, heating and cooling equipment, electric-mobility projects and charging infrastructure for public, industrial, commercial and residential customers.

• 2023Sustainability Yearbook recognition

  International

  Enel Américas was again included in The Sustainability Yearbook and was placed in the Top 5% S&P Global ESG Score category for the electricity industry.

  Outcome. The recognition positioned the company among the higher-rated electricity companies in the referenced global sustainability comparison.

  Source
• 2022Sustainability-index and climate-disclosure program

  Latin America · International capital markets

  Enel Américas reported inclusion in the Dow Jones Sustainability Index categories for Emerging Markets, the Pacific Alliance integrated market and Chile. It also reported inclusion in FTSE4Good indices and an A-minus result from the Carbon Disclosure Project, reflecting its environmental and climate-reporting initiatives.

  Outcome. The company described the results as its strongest performance in the cited climate-disclosure assessment and as evidence of progress on emissions reduction and climate-risk management.

  Source

• 2022

  Implement asset-rotation and decarbonization policyStrategy

  Background

  Enel Américas and its parent group reviewed the regional portfolio to simplify operations, recycle capital and reduce exposure to selected thermal and distribution assets.

  Action taken

  Enel Brasil sold Termofortaleza to Eneva and sold 99.9% of Enel Distribución Goiás to Equatorial Energia. The parent group's strategic plan also identified intended disposals in Argentina, Peru and Brazil.

  Aftermath

  The transactions reduced selected Brazilian assets and formed part of a broader portfolio-repositioning and decarbonization program.

  Source

• 2022

  Exit the NYSE ADR listingStrategy

  Background

  Enel Américas reviewed its U.S. capital-market presence after maintaining a secondary ADR program on the New York Stock Exchange.

  Action taken

  The company announced the delisting, removed the ADRs from the NYSE in June, cancelled the program in July and filed for SEC deregistration.

  Aftermath

  The U.S. ADR program ended and the SEC deregistration process was completed in February 2023.

  Source

• 2020

  Approve incorporation of EGP AméricasM&A

  Background

  Enel sought to consolidate renewable-energy businesses and generation assets developed by Enel Green Power in Central and South America, excluding Chile.

  Action taken

  The extraordinary shareholders' meeting approved the merger by incorporation of EGP Américas; the merger became effective in April 2021.

  Aftermath

  Enel Américas gained direct control and consolidation of the relevant renewable-energy activities.

  Source

• 2019

  Finance acquisition of AES EletropauloM&A

  Background

  Enel Américas sought to fund the acquisition of AES Eletropaulo, a major electricity distributor in São Paulo, and address related pension liabilities in Enel Brasil.

  Action taken

  Shareholders approved a US$3 billion capital increase, which was completed with approximately 99.5% subscription.

  Aftermath

  The transaction expanded Enel Américas' Brazilian distribution footprint and customer base.

  Capital increase. US$3 billion approved capital increase (2019)

  Source

• 2015

  Separate Chilean and regional operationsStrategy

  Background

  After Enel became Enersis's controlling shareholder, the group began a corporate restructuring to distinguish Chilean generation and distribution from operations in other Latin American countries.

  Action taken

  The restructuring created Enel Américas as the continuing regional company and Enel Chile as the vehicle for the Chilean assets; the process concluded in 2016.

  Aftermath

  Enel Américas focused its portfolio on Argentina, Brazil, Colombia, Peru and other regional activities outside Chile.

  Source

1. 1Enel Américasen.wikipedia.org
2. 2Enel Américas official websiteenelamericas.com