Enel Board of Directors Goes Into Extra Time: Third Investment Fund List Arrives
Enel, the Italian multinational electricity and gas giant, announced an extension of its third investment fund’s deadline to further enhance its sustainable growth initiatives. The Enel board of directors has taken the decision following the excellent response they received from institutional investors showing their interest in this project.
The Fund’s Overview
The third investment fund focuses on identifying innovative and sustainable startups that can promote new business models, technologies, products, and services that can benefit the environment and society. The fund primarily aims to finance projects in the renewable energy, energy distribution, energy efficiency, storage, smart grid, electric mobility, and agricultural sectors.
Enel has set a target of €200 million for this third fund, out of which it will invest with its partners up to €80 million. In contrast, the rest of the funds will come from external institutional investors interested in partnering with Enel to promote innovative and sustainable startups that can benefit society and the world.
The Extension of the Deadline
The board of directors extended the deadline for the third fund to the end of September 2021 to welcome numerous investors to participate in this project. This decision follows the successful launch of Enel’s Green Bond program, demonstrating their primary concern for the environment and the society as a whole.
With the extension of the deadline, Enel aims to provide more opportunities for investors to invest in sustainable startups and new business models, fostering innovation and generating positive impact on the society and the environment.
The Previous Two Funds
The first and second Enel investment funds primarily focused on startups whose projects aimed for sustainable innovation, thereby supporting the development of new products, services, and business models. The first fund, launched in 2017, focused on the renewable energy sector while the second fund, launched in 2018, focused on technology-related projects, primarily related to the electricity distribution, energy efficiency, and digitalization sectors.
In conclusion, Enel’s third investment fund seeks to bridge the gap between innovation and sustainability and engage with startups that can help the company foster growth and development while contributing to the larger goal of building a greener tomorrow. By investing in sustainable startups, Enel has demonstrated its commitment towards achieving a sustainable future and promoting renewable energy technologies, digitalization, and energy efficiency.
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Summary: Enel, the Italian multinational electricity and gas giant, has extended the deadline of its third investment fund to September 2021 after observing a keen interest among institutional investors. The third fund targets sustainable startups with innovative ideas, focusing on renewable energy, energy distribution, storage, and smart grid sectors. While the first fund focused on renewable energy, and the second fund emphasized the technology sector, the third fund looks to build a sustainable tomorrow by investing in innovative startups that benefit the society and the environment. #NEWS