Enel, Santander sign global deal to support clients' clean energy transition

Wednesday 9 March 2022 13:55 CET | News

Enel and Santander have signed a memorandum of understanding (MoU) aimed at supplying and financing solar facilities, lithium batteries, and energy efficiency solutions for households, SMEs, and corporations. 

Under the MoU, Enel, through Enel X Global Retail, the Group's advanced energy services business line, will design customised turnkey solutions for clients while Santander will provide them with tailored financing. The two leading groups will help accelerate the energy transition of clients towards more sustainable models by supporting them in the optimization of their energy consumption.

Enel is reportedly the world’s largest private green energy player with around 54 GW of installed renewable capacity worldwide and is planning to roughly triple that amount by 2030. By fully decommissioning its thermal fleet alongside exiting gas retail activities by 2040, the Group has a Net Zero commitment to that year both for direct and indirect emissions.

Santander aims to raise or facilitate EUR 120 billion in green finance between 2019 and 2025 and EUR 220 billion by 2030 as part of its responsible banking agenda and its support for its customers transitioning to a low-carbon economy. The bank is already carbon neutral in its own operations. To reach net-zero emissions for the whole group by 2050 in support of the Paris Agreement objectives and the transition to a low-carbon economy, Santander will align its power generation portfolio with the Paris Agreement by 2030.

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Keywords: partnership, green finance
Categories: Banking & Fintech
Companies: Enel, Santander
Countries: World
This article is part of category

Banking & Fintech




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