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    ENEL   IT0003128367

ENEL S.P.A.

(ENEL)
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6.648 EUR   -0.88%
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Enel S p A : X North America, Inc. - Eaton and X expand clean energy infrastructure, strengthen energy resilience in Puerto Rico with second microgrid

10/07/2021 | 07:46am EST

PITTSBURGH Power management Company Eaton and Enel X, the Enel Group's advanced energy services business line, today announced plans for a second joint microgrid project in Puerto Rico.

The projects will reduce demand on regional energy infrastructure, enable Eaton to power manufacturing with more renewables and boost energy resilience for its operations.

'The increasing frequency and impact of climate emergencies underscore the need for far more sustainable and resilient power,' said Brian Brickhouse, president of Eaton's Electrical Sector, Americas region. 'Around the world, we're applying our Everything as a Grid approach to strengthen operations with low-carbon energy sources and the ability to withstand extreme weather emergencies. With our partner Enel X, we established a replicable energy-as-a-service model that exemplifies how to keep the power on-no matter what.'

Large-scale power outages have increased by 67% since 2000 and continue to impact millions of communities and businesses. (Source: Climate Central) Microgrid systems help prepare for the unexpected by balancing where, when and how electricity is consumed-to improve resilience, including during grid outage events. Microgrids also provide added value when grid conditions are normal by generating renewable energy from the solar panels, which can be consumed, or stored and delivered back to the local grid to reduce stress on regional utility infrastructure.

'As extreme weather caused by the climate crisis becomes the new normal, commercial and industrial businesses need to adopt an integrated energy strategy and solutions that are both resilient and sustainable,' said Surya Panditi, Head of Enel X North America. 'Enel X is committed to delivering custom energy solutions that deliver economic value and meet any organization's sustainability needs. Through our growing partnership with Eaton, we've developed a replicable gold standard for resiliency, emissions reductions and energy cost savings.'

The solar-plus-storage microgrid at the Eaton Las Piedras manufacturing facility will integrate nearly 5 megawatts (MWac) of solar PV and approximately 1.1 MW/2.2 MWh of battery storage into the facility's onsite power generation systems. The project is the second microgrid at an Eaton manufacturing site on the island. Together with the microgrid system at the Eaton Arecibo site, Eaton and Enel X will contribute 10 MWac of solar PV and 2.23 MW / 4.46 MWh of battery storage in Puerto Rico by 2022.

Under the terms of the agreement, Enel X will build, own and operate the system on behalf of Eaton. Additionally, Enel X will finance the project under an energy-as-a-service model, shifting Eaton's investment in the microgrid system from a capital to an operational expense. Eaton will provide installation expertise and key technologies for the microgrid system, including its leading microgrid controller and plant electrical distribution equipment.

In addition to increasing the facility's resiliency, the solar-plus-storage system will enable Eaton to generate, store and consume renewable energy, and support the local grid by discharging renewable energy back to the grid, reducing emissions by limiting the need for carbon-intensive electricity during peak demand periods.

The microgrid systems at the Las Piedras and Arecibo plants are designed to hurricane code in Puerto Rico and able to withstand Category 5 strength hurricane-force winds. Like all Enel X storage deployments, the microgrid will utilize Enel X's Distributed Energy Resources (DER) Optimization software, and its unique capabilities to maximize the value of the project across multiple applications, including on bill savings, incentive programs and grid services.

Eaton's Everything as a Grid approach to the energy transition helps customers safely add more renewables and energy storage, transforming operations to become more sustainable and resilient while lowering costs. Learn more about Eaton's approach to the energy transition.

About Eaton

Eaton's electrical business is a global leader with deep regional application expertise in power distribution and circuit protection; power quality, backup power and energy storage; control and automation; life safety and security; structural solutions and harsh and hazardous environment solutions. Through end-to-end services, channel and an integrated digital platform and insights, Eaton is powering what matters across industries and around the world, helping customers solve their most critical electrical power management challenges. Eaton's mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power - more safely, more efficiently, and more reliably. Eaton's 2020 revenues were $17.9 billion, and we sell products to customers in more than 175 countries. We have approximately 85,000 employees.

About Enel X

Enel X is Enel Group's global business line offering services that accelerate innovation and drive the energy transition. In North America, Enel X has around 4,500 business customers, spanning more than 35,000 sites and representing approximately $10.5B in energy spend under management. Enel X North America has approximately 4.7 GW of demand response capacity, over 70 battery storage projects that are operational and under contract, and more than 70,000 smart EV charging stations. Enel X advises large energy users on energy procurement, sustainability, and risk management, and has completed 65,000 energy procurement events including 3,000 MW of long-term renewable energy contracts. The company's intelligent DER Optimization Software is designed to analyze real-time energy and utility bill data, improve performance, and manage distributed energy assets across a number of different value streams and applications. JuiceNet, Enel X's smart EV charging platform, delivers energy services to utilities, businesses, drivers and automotive manufacturers.

Contact:

Krista Barnaby

Tel: +1 978-965-0062

Email: aj.gosselin@enel.com

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 74 793 M 84 683 M 84 683 M
Net income 2021 5 237 M 5 930 M 5 930 M
Net Debt 2021 52 786 M 59 766 M 59 766 M
P/E ratio 2021 13,0x
Yield 2021 5,63%
Capitalization 68 643 M 77 738 M 77 720 M
EV / Sales 2021 1,62x
EV / Sales 2022 1,63x
Nbr of Employees 66 021
Free-Float 76,4%
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Number of Analysts 27
Last Close Price 6,76 €
Average target price 8,86 €
Spread / Average Target 31,1%
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Managers and Directors
Francesco Starace Chief Executive Officer, Director & GM
Alberto de Paoli Chief Financial Officer & Head-Administration
Michele Alberto Fabiano Crisostomo Chairman
Anna Chiara Svelto Independent Director
Cesare Calari Independent Director
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