Enel Américas allocates sales in Peru to reduce debts in Brazil and optimize resources.

Enel Américas has made a significant strategic decision in the context of its operations in South America, specifically in Brazil and Peru. The company has agreed to allocate the funds obtained from the recent sale of its assets in Peru to settle accumulated debts in its Brazilian subsidiary. This strategy was explained by Rafael de la Haza, Enel's Chief Financial Officer, who emphasized that the generated revenues will not only help improve the company's financial situation in the neighboring country but will also be part of a broader liability management plan. The announcement of the asset sale in Peru was closely watched by analysts who are monitoring Enel's restructuring in the region. De la Haza stated that the company's plan involves liability management of approximately $2 billion, which has been implemented progressively. This debt reduction primarily focuses on Brazil, where the company is facing significant liabilities. During the conference, the CFO emphasized that the company aims to make effective use of the cash generated from the sale, noting that reducing the most burdensome debt in Brazil is now a priority. With leverage amounting to $1.2 billion in that country, Enel is determined to improve its financial position before 2026, the year in which it expects to have made a substantial reduction in its debt. Enel's CEO, Aurelio Bustilho, also joined the conversation, highlighting that the company has committed significant investments in electrical infrastructure in Brazil. With $2.5 billion allocated for improvements in electrical networks for the 2024-2026 period, the company reaffirms its intention to remain a leader in the energy sector in the largest economy in Latin America. Despite the challenges Enel faces in optimizing its operations, the new government in Brazil has shown greater openness to dialogue, creating an optimistic environment for the company. Bustilho acknowledged that while progress has been made, there is still a long way to go to address the issues accumulated over several years. The recent asset sale in Peru is part of a broader movement. In May, the British fund Actis acquired 95.3% of Enel Generación Perú for around $1.3 billion. This transaction not only represents a change in operational control but also allows Enel to focus on consolidating its strategy in Brazil. The sold assets include a diverse generation portfolio encompassing renewable energy sources such as wind and solar, as well as hydroelectric and thermal plants. With over 2,200 megawatts of capacity, this portfolio represents a solid foundation for the new owner and underscores the importance of the energy sector in the region. On the other hand, the concessionaire Enel Distribución Perú has also advanced in its sale process, completing the transfer of 83.15% of its shares to North Lima Power Grid Holding, a subsidiary of China Southern Power Grid International. This move is part of a broader trend in which foreign companies are taking a more active role in the Peruvian energy market. It is evident that Enel Américas is undergoing a significant restructuring aimed at strengthening its financial position in South America. The decisions made in recent months reflect a clear focus on debt reduction and resource optimization, with Brazil as the main focus of its efforts. As these events unfold, it will be essential to closely monitor how these strategies impact Enel's operations and sustainability in the region.