Enel Argentina present at Forbes event

Published on Wednesday, 6 October 2021

Our CEO, Claudio Cunha, participated in the “Forbes Energy Oil & Gas Summit”, as a speaker in the “Energy Transition” panel.
On behalf of Enel Argentina, Cunha highlighted that the world is experiencing a “revolution” in the field of renewable energies and stressed that the pandemic accelerated and changed the way in which companies relate to their customers ”.
"Energy transition issues have accelerated significantly in recent years and many companies around the world have adjusted their business plan to enter into this new philosophy and way of operating", he highlighted.
He recalled that Enel is "a world leader in renewables with 50 thousand megawatts of installed capacity", a figure that it seeks to triple by 2030 and multiply by 8 in 2050. This requires "a very significant level of investment, which represents a challenge very aggressive ”.
“What is happening is a revolution, the world is going through a revolution. The pandemic greatly accelerated the way it engages with customers and how businesses are run. It is a before and after ”, he summarized.
Regarding this boom in renewable energies, he pointed out that it is "a movement that occurs with great speed throughout the world and that requires adapting to the demands made by stakeholders and the financial market, which sets the pace" to provide financing to these types of projects over others.
Regarding the subsidies in Argentina, he considered that it is necessary to "adjust things in the machine so that it is more attractive in terms of the flow of capital."
“We subsidize a lot but badly, there are different project initiatives to make better use of subsidies. Today 80% of the electricity subsidy is for groups of people who do not need it. This review is essential to have a correct price signal and enable a higher level of financing ”, he highlighted.
As part of the panel on Renewable Energies, he stated that the energy transition "generates a lot of employment, so if there is liquidity in the world and these internal traps are unlocked, we should be more attractive."
And he concluded: “I believe that access to capital in Argentina is a great barrier, you have to walk towards where the world is pointing, which are sustainable projects. Capitals go there worldwide, society requires these signals and markets adapt ”.