PROJECT

Projects

Environmental & Social Review Summary

Project Number

47995

Company Name

ENEL COLOMBIA S.A. ESP

Date ESRS Disclosed

Aug 31, 2023

Country

Colombia

Region

Latin America and the Caribbean

Last Updated Date

Nov 17, 2025

Environmental Category

B - Limited

Status

Active

Previous Events

Approved : Oct 31, 2023
Signed : Nov 16, 2023
Invested : Nov 30, 2023

Sector

Integrated Utilities

Industry

Infrastructure

Department

Regional Industry INF LAC & EUR

Project Description

 Enel S.p.A. (“Enel Holding” or “the Group” www.enel.com) is the world's largest vertically integrated utility company (generation, trading, distribution, market). The company operates across 47 countries in five continents through 1,000 subsidiaries and employs a total of 65,124  workers globally. Enel Holding is publicly listed on the Italian stock exchange, with a market capitalization of about € 61.7. 

Enel Colombia S.A. E.S.P. (the Borrower) is a regional regulated and integrated public services company operating in Colombia and Central America’s power generation and distribution segments. Enel Colombia is owned by: i) Enel Americas – a subsidiary from Enel Spa, (ii) Grupo Energia de Bogota, and (iii) other minority shareholders. Enel Colombia accounts for a consolidated power generation capacity of approximately 4.2 GW (90.4% renewable sources)and approximately 3.83 mn distribution clients in Colombia. 

Enel Colombia operate 5 business lines: (i) Enel Power Generation, (ii) Enel Grids, focused on energy supply and distribution, (iii) Energy and commodity management “trading”, (iv) Retail, focused on commercialization, and (v) Enel X, focused on business-to-business innovative solutions in street lighting  and transportation, among others. Enel Grids Colombia assets include: 1,348 Km of high tension (HT) lines, 30,687 Km of medium tension (MT) lines, 43,570 Km of low tension (LT) and 187 substations. 

The proposed investment entails an up to 8-year IFC senior loan for up to US$300 million equivalent in COP to Enel Colombia’s Enel Grids  business line. The proceeds of the facility will be used to finance part of the Borrower’s 2023-2025 energy distribution projects and maintenance CAPEX in Colombia including: (i) maintenance plan of existing networks; (ii) climate resilience investments; (iii) network expansion to new clients; (iv) digitalization and smart-meters; and (v) required investments for sustainable transport in Bogotá (metro, regional train and e-buses). The project does not include financing for power generation or distribution which would represent high E&S risk. 

IFC has supported Enel Holding in several project in Africa, India, and LAC (Wind Brazil #33579; EGP India #44816; E-buses Chile #44610; SS Zambia #37811) which have a satisfactory E&S performance.

Overview of IFC's Scope of Review

 IFC personnel visited the corporate office of Enel in Bogotá, Colombia June 6-9, and 15-18, 2023. This included a review of environmental, social and health and safety (ESHS) documents and information and meetings and presentations with senior management including: the Company’s Chief Financial Officer, Head of Capital Markets, Head of Corporate Finance, Sustainability Team Colombia, Health, Safety and Environment (HSEQ) Team Colombia Enel Grids, Sustainability and Community Relations Team; People Management Team; Institutional Affairs  and Corporate Compliance Team.  IFC’s visit also included site visits to 3 Substation sites, equipment and material warehouses, work fronts, and 10 high and medium transmission lines sites.  Also, the visit included interviews with workers and contractors.                                                  

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support

Environmental & Social Action Plan