Enel SpA

ENEL: XMIL (ITA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€4.60	Dvnf	Twhzgqx

Enel's Disposal Plan Is Value-Accretive

Tancrede Fulop

May 7, 2024

Business Strategy and Outlook

Enel is an integrated utility operating mainly in Italy, Spain, and Latin America. The grid business accounts for 35% of the group's earnings. The rest comes from generation and supply. The power generation mix is dominated by renewables with hydro weighing 35% of the installed capacity, and solar and wind at 32%.

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