Enel Américas

Enel Americas is a conglomerate of electric energy companies operating in South America. Through its affiliates generates, transmits and distributes electric power in four South American countries: Argentina, Brazil, Colombia, and Peru. It is one of the largest private companies in Latin America, adding a total installed capacity, to December 31st, 2019, of 11,267 MW, distributing electric energy to 25 million customers (Dic/2019).

Enel Américas S.A.
Sociedad Anónima
Traded asBCS: ENELAM
NYSE: ENIA
BMAD: XENI
IndustryUtility
Founded1889
Headquarters
Santiago
,
Chile
ProductsElectricity generation and distribution
Revenue US$ 14.3 billion (2019)
US$ 1.6 billion (2019)
Number of employees
15.411
ParentEnel
SubsidiariesEdesur
AES Eletropaulo
Websitewww.enelamericas.com

Its controlling shareholder is the Italian company Enel S.p.A., a global energy company and one of the main integrated operators in the energy and natural gas sectors in the world. Present in 34 countries in the five continents, it has a net installed capacity of almost 90 GW and distributes electric power and gas through a power grid encompassing more than 2.2 million kilometers, supplying power to more than 73 million end consumers around the world.

The current CEO is Mr. Maurizio Bezzeccheri (Sep 2018-current) and CFO Mr. Aurelio R. Bustilho de Oliveira. In August 2019, Enel Americas concluded the biggest capital raise in the history of Chile and the biggest of the previous 5 years in Latin America, achieving 3 billions USD, with 99,5% of participation among its shareholders. The proceeds were used to conclude and restructuring plan related to the purchase of AES Eletropaulo - the biggest distribution company of South America, with 7,2 million clients, in the city of Sao Paulo, Brazil.

The Company is listed in the Chilean stock exchange, presenting the highest market cap of Chile, with 9,739.0B CLP (20/05/2020), and listed in the NYSE exchange under the ticker ENIA. In July 2019, Enel Americas celebrated 25y of listing in the New York Securities Exchange - NYSE, closing the bell ceremony on July 31st 2019 (ref. https://www.youtube.com/watch?v=eQJIDCGelVw ).

In Dec 2020, Enel Americas achieved for the first time the highest recognition of a Chilean based company in terms of ESG - the ALAS 20 - with the best Company in Chile (ref. http://web.alas20.com/ganadores-alas20-ano-2019/ganadores-alas20-ano-2019-chile/ ). In Jan 2020, the Company achieved the bronce medal at the S&P (Robecco SAM) Global Utilities Sustainability Yearbook 2020. (ref. https://www.spglobal.com/esg/csa/yearbook/ranking/#data-search*=%22enel%20americas%22] )

History
The former logo of the company

On June 19, 1981, Compañía Chilena de Electricidad S.A. was reorganized into a parent company and three subsidiaries. One of these was Compañía Chilena Metropolitana de Distribución Eléctrica S.A. In 1985, under the Chilean government's privatization policy, the process of transferring the share capital of Compañía Chilena Metropolitana de Distribución Eléctrica S.A. to the private sector was begun, ending finally on August 10, 1987.[1]

In this process, the pension fund management companies (AFPs), company employees, institutional investors, and thousands of small shareholders joined the Company. Its organizational structure was based on activities or operative functions whose results were evaluated functionally and its profitability was limited by a tariff structure as a result of the Company's exclusive dedication to the electricity distribution business.[2]

Restructuring and Diversification (1987 - 2014)

In 1987, the company's board proposed forming a division for each of the parent company's activities. Four subsidiaries were therefore created to be managed as business units each with its own objectives, thus expanding the company's activities toward other non-regulated activities but linked to the main business. This division was approved by the extraordinary shareholders meeting of November 25, 1987 which defined its new corporate objects. Compañía Chilena Metropolitana de Distribución Eléctrica S.A. thus became an investment holding company.[3]

On August 1st, 1988, by virtue of that agreed at the General Extraordinary Shareholder’s Meeting of April 12th, 1988, one of the corporations born out of the division changed its company name to Enersis S.A. The same year, and with the purpose of successfully facing the challenge of development and growth, the company was divided into five business units, which gave rise to five affiliates.

Of these, Chilectra and Río Maipo took charge of electric power distribution; Manso de Velasco concentrated upon engineering and electric construction services, as well as real estate administration; Synapsis took care of the information technologies and data processing area; while Diprel focused upon lending electric product supply and marketing services.

In the General Extraordinary Shareholder’s Meeting of April 11th, 2002, the corporate purpose of the company was modified, introducing the activities of telecommunications and the investment in and administration of companies having telecommunications and information technologies and business intermediation through the Internet as corporate purposes.

Acquisition by Enel (2014 - Present)
Enel Américas corporate building in Brazil.

In October 2014, after Endesa was acquired by Enel, Enersis S.A became controlled by Enel. The company underwent a corporate restructuring process, that began in April, 2015 and which ended in December 2016. The restructuring consisted in separating the electric power generation and distribution activities developed in Chile, from the rest of the countries. In this way, Enel Americas S.A. was created, a company continuing Enersis with activities in Argentina, Brazil, Colombia and Peru, and Enel Chile S.A.

Today, Enel Americas S.A. is one of the largest private electric power companies in Latin America, in terms of consolidated assets and operational income, which has been achieved through a stable and balanced growth in its electric power businesses: generation, transmission and distribution.

Electric Power Generation Affiliates

Enel Américas has a total installed capacity of 11,257 MW as of December 31st, 2018.

In Argentina, Enel Américas participates in electric power generation through Enel Generación, Enel Generación El Chocón[4] and Central Dock Sud[5] affiliates.

In Brazil, Enel Américas participates in electric power generation through Enel Brasil and its affiliates Cachoeira Dourada, Volta Grande and Enel Geração Fortaleza.[6]

In Colombia, Enel Américas participates in electric power generation through its affiliate Emgesa.[7]

In Perú, Enel Américas controls [[Enel Generación Peru] and Enel Generación Piura through Enel Peru S.A.C.[8]

Electric Power Distribution Affiliates

Enel Américas participates in the electric power distribution business in Latin America through the following affiliates:

Electric Power Transmission Affiliates

Enel Américas participates in the electric power transmission business through the interconnecting line between Argentina and Brazil. This takes place through Enel Cien[12], an affiliate of Enel Brasil.

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References
  1. "Memoria 2004" (PDF). Chilectra. Retrieved 2020-02-06.
  2. "Acerca de Enel - Enel Américas". www.enelamericas.com (in Spanish). Retrieved 2020-02-06.
  3. "Acerca de Enel - Enel Américas". www.enelamericas.com (in Spanish). Retrieved 2020-02-06.
  4. "Enel quiere quintuplicar sus inversiones en las renovables |". www.cronista.com. Retrieved 2020-02-06.
  5. "Inversores | Central Dock Sud". www.cdssa.com.ar. Retrieved 2020-02-06.
  6. "A Enel | Enel". www.eneldistribuicaosp.com.br. Retrieved 2020-02-06.
  7. "BNamericas - Emgesa S.A. E.S.P. (Emgesa)". BNamericas.com. Retrieved 2020-02-06.
  8. "Acerca de Enel en Perú - enel.pe". www.enel.pe (in Spanish). Retrieved 2020-02-06.
  9. "A Enel". Enel Brasil. 2019. Retrieved 2020-02-06.
  10. "Codensa energía eléctrica | Enel–Codensa". www.enel.com.co (in Spanish). Retrieved 2020-02-06.
  11. "About Us - Enel Distribución Perú". www.enel.pe. Retrieved 2020-02-06.
  12. "Our Businesses". www.enel.com.br. Retrieved 2020-02-06.


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