Historical series Itaú Unibanco and Enel sign an agreement to supply approximately 80% of the bank’s units with renewable energy
– The agreement foresees the installation of 46 distributed photovoltaic generation plants by Enel X to supply 1,557 Itaú branches in 14 locations in Brazil, in addition to the purchase of energy on the free market that will supply 564 branches;
– Partnership also includes the implementation of a system to monitor energy and water consumption at Itaú’s facilities and digitalize the company’s service account management.
August 17, 2022 – Enel Brasil, through Enel X, and Itaú Unibanco signed this week a contract for the development and construction of 46 photovoltaic plants for distributed generation in 14 locations in Brazil. With a total installed capacity of 54.7 MWp, the plants will be responsible for generating clean energy for 1,557 of Itaú’s units. The distributed solar generation contract with Itaú is Enel X’s largest in the world and reinforces the Enel Group’s strategy of acting as a sustainable facilitator of the energy transition in the countries where the company operates, fostering the use of green, efficient and safe energy among its customers and business partners. In addition, it is another initiative of Itaú towards its commitment of becoming zero carbon by 2050. The agreement with Itaú has a 10-year term, with the possibility of extension.
Nicola Cotugno, Enel Brazil’s Country Manager, explains that the electrification of consumption, with the replacement of fossil fuels by renewable ones, supported by energy efficiency, is the path to be followed by companies and society all over the world. “The agreement with Itaú demonstrates the commitment of two major players towards the goal of zero carbon emissions. Our mission is to help companies of all sizes and segments to achieve their decarbonization goals, in line with the urgency that the issue requires to curb global warming,” says Cotugno. “We offer our customers integrated solutions that ensure intelligent and sustainable management of energy consumption, enabling cost control, predictability and reduction of environmental impacts,” he concludes.
“This is another important advance in Itaú Unibanco’s ESG agenda, mainly related to our Net-Zero commitment. In addition to economic issues, the Itaú and Enel partnership promotes a positive impact on the environment, and reinforces the importance of using renewable energy in Brazil,” comments Luciana Nicola, Director of Institutional Relations and Sustainability at Itaú Unibanco.
The distributed generation project reaffirms the sustainable commitment of both companies, since it will avoid the annual emission of about 10,000 tons of CO². The distributed generation solar plants will be installed by Enel X in Rio de Janeiro, Paraná, São Paulo, Goiás, Minas Gerais, Bahia, Pernambuco, Ceará, Pará, Santa Catarina, Rio Grande do Sul, Espírito Santo, Mato Grosso
Sul, Espírito Santo, Mato Grosso and Distrito Federal. In all, there will be more than 75,000 solar panels installed and the plants are expected to start operating in about 12 months. Through Enel Trading, Enel’s energy trader in the free market, Itaú has also signed power purchase agreements with an 8-year duration and almost 1 TWh of commercialized energy. Also among the deliveries to Itaú, Enel X will implement the UBM (Utility Bill Management) system, which digitalizes the company’s payment management, organizing in a single platform all the information about service provider bills, besides allowing the monitoring of energy and water consumption of all the company’s units and monitoring sustainability indicators.