cybersecurity
Image credit: Stock

The Enel Group is set to integrate its subsidiaries in Central and South America into a single brand.

The development follows the Board of Directors of the group’s Chilean listed subsidiary Enel Américas S.A. approving a merge with other subsidiaries.

This means current non-conventional renewable assets of the Enel Group in Argentina, Brazil, Colombia, Costa Rica, Guatemala, Panama and Peru will be integrated into Enel Américas.

Related articles:
Enel enters Taiwan’s demand response market
Enel expands footprint in Japan’s demand response market
Enel subsidiary sets industry standard for optimal energy storage deployment

The integration allows for further simplification of the Group’s corporate structure and aligns Enel Américas’ business set-up to the rest of the Group.

The merger allows an increase of Enel’s stake in Enel Américas, as well as ensures a resilient financial position of Enel Américas that fuels the future development of the renewable business and growth prospects of the company.

The integration now awaits an amendment of the by-laws of the latter by the shareholders’ meeting to remove the existing limitations whereby a single shareholder may not hold more than 65% of the voting rights.

The said shareholders’ meeting shall also approve the merger as transaction with related parties in compliance with the applicable laws and regulations.

Previous articleClean energy technologies spurring battery innovation
Next articleConsumer perceptions of EVs remain positive despite pandemic
Nicholas Nhede
Nicholas Nhede is an experienced energy sector writer based in Clarion Event's Cape Town office. He has been writing for Smart Energy International’s print and online media platforms since 2015, on topics including metering, smart grids, renewable energy, the Internet of Things, distributed energy resources and smart cities. Originally from Zimbabwe, Nicholas holds a diploma in Journalism and Communication Studies. Nicholas has a passion for how technology can be used to accelerate the energy transition and combat climate change.