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Integrated Annual Report Enel Américas 2021
Integrated annual report 2021
Enel Américas
Letter to the
shareholders and
other groups of
interest
Francisco de Borja Acha
Chairman
Maurizio Bezzeccheri
Chief Executive Officer
4
Integrated Annual Report Enel Américas 2021
Dear shareholders and stakeholders,
I hereby present the first Integrated Annual Report of
Enel Américas for the financial year 2021.
This Report displays the role of the Company's strategy,
governance, and performance in short-, medium- and
long-term value creation and the significant progress
made in various ESG (environmental, social and
governance) management areas, while at the same time
setting ambitious new targets for 2040 that complement
the Company's previous aspirations.
In the Covid-19 pandemic context, Latin America has
been the hardest hit region. The sharp contraction
resulting from the health crisis has had enormous
economic and social costs, as it came after several
years of weak performance, with low average growth
and limited progress in social indicators.
During these changing times, the energy generation,
transmission and distribution operations have not
stopped, because we are aware of their strategic
impor tance for society, and we respond to said
importance with seriousness and efficiency. The efforts
have been strenuous and the ability to adapt to the
challenging conditions has been fundamental.
This has allowed us to accelerate our digital transition
processes, implementing technological changes that
made it possible to deliver an increasingly improved
service quality to our customers. Therefore, before
starting with a general summary of our performance, we
would like to take advantage of these lines to thank our
teams, known for their resilience and strength, for their
commitment which permitted to continue our operations
in the different segments in which we are immersed in
the region.
The next decade will be key to achieving the Zero
Emissions targets by 2050 as established in international
agreements. This will involve a growth in the renewable
energy generation and the promotion of initiatives aimed
at increasing the use of electricity in all of people's
activities. In this context, customers will play a crucial
role in gradually converting their consumption, thus
obtaining benefits in terms of costs, efficiency, and
emission reduction.
To respond to this challenge and our commitment to
move forward in the development of clean energy in
the region, which will improve the quality of people’s
lives and protect the environment in a context of climate
crisis, we are very proud of the historic milestone that
took place on April 1, 2021, when we completed the
merger of EGP Américas with Enel Américas. Through the
merger, the latter acquired the ownership of EGP's non-
conventional renewable energy generation business and
assets that are developed in Central and South America
(with the exception of Chile).
This merger positions Enel Américas as the largest
private electricity company in Latin America, adding
15,926 MW of installed capacity and delivering energy to
more than 26 million customers, expanding its operating
perimeter to Guatemala, Costa Rica, and Panama, in
order to promote energy transition throughout the
region. It also involved an increase in renewable sources
in its energy matrix, which went from 56% to 69%, adding
4.7 GW in operation, 2.7 GW in development and more
than 50 GW in the pipeline.
2022-2024 Strategy
In November 2021 , we presented the 2022-2024
Strategy, which not only aims to achieve the Company’s
operational and financial growth, but also to implement
measures to combat climate change effects such as
moving forward to our Net Zero goal by 2040. This is
how we defined very clear value creation goals, so in
the strategic actions, the Company allocates capital
to support electrification and decarbonization. This
involves transforming generation capacity and digitizing
networks to increase renewable energy and ultimately
deliver clean energy to customers in a reliable, safe,
resilient, accessible, and high-quality manner.
In terms of our generation capacity transformation, at
the end of 2021, 2.7 GW of projects of clean energy
were underway, representing a significant percentage
of the objective of adding 3.5 GW of renewable capacity
by 2024. The new projects under development are
distributed throughout the region, mainly in Brazil and
Colombia.
If we want to reach the global carbon neutrality targets
in the region by 2050, we must achieve an electrification
rate of at least 50%. One of the focuses of the strategy
will involve strengthening service quality, with a special
emphasis on the security and resilience of networks,
digitizing them to improve service levels. This way,
electrification will be driven by the network's own
customers, taking a crucial and progressively more active
role in all future developments.
Additionally, in our distribution businesses, we will make
a US$4.9 billion investment, which represents 55%
of the 2022-2024 Investment Plan, in electrification
and network quality optimization. This will allow us to
Letter from the Chairman of the Board 5
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
continue improving the quality of our services, always
positioning our customers in the region as our priority.
for free sightseeing tours of the main cultural attractions
of Madureira, a northern neighborhood of the city.
In generation, Enel Green Power Brasil began operating
the Lagoa dos Ventos wind farm, the largest operating
facility in South America and the company's largest
worldwide. The 716 MW wind farm is composed of 230
wind turbines and will generate more than 3.3 TWh per
year, avoiding the emission of more than 1.9 million tons
of CO2.
Thus, we culminate 2021 with many achievements in the
region. With the help of all of you, employees, investors,
and customers, we guide the main private energy
company in Latin America along the path of sustainability
that we have mapped out. Let's move forward with the
same energy in 2022!
Thank you.
Results of the period
Notwithstanding the challenging context, EBITDA in 2021
reached US$4,102 million, representing a 26.1% increase
as compared to 2020, driven mainly by the incorporation
of the EGP Américas companies and the recovery of
demand in the distribution segment in the countries in
which we operate.
In 2021, Enel Américas consolidated its ESG ratings
and indices thanks to the integration of sustainability
into its strategy. Among the successes we would like to
highlight was the confirmation of the Company in The
Sustainability Yearbook 2021 for the third consecutive
year and the distinction within the Bronze Class for its
excellent performance, ranking between 5% and 10%
of the most sustainable companies in the industry in
the world.
Other corporate milestones
In 2021, and as part of the agreement between Enel
Américas and Grupo de Energía de Bogotá (GEB), the
approval of the merger between Emgesa S.A. ESP,
Codensa S.A. ESP, Enel Green Power Colombia S.A.S.
ESP and ESSA2 SpA was reached, formally completed
on March 1, 2022. This permits to carry out an efficient
and competitive corporate simplification to face energy
transition challenges. This merger agreement, which
includes Enel Américas ' assets in Colombia and other
countries in the region, leaves Enel Américas with
57.345% of the Company's shares and Grupo de Energía
Bogotá with 42.515%.
Enel Américas initiated a major Smart Meter installation
project at Enel Distribución Sao Paulo, its largest
distributor, with the goal of reaching 16% of customers
with smart meters installed by 2024. This way, we seek
to become Brazil’s leading company in service quality,
customer satisfaction and operational efficiency of our
services, involving an improvement in the quality indices
and automation of services and processes.
Among other achievements during the period, we would
like to highlight Enel X’s contract to supply energy for
401 electric buses in Bogotá, along with the construction
of two electro-terminals. The Colombian capital is the
second Latin American city, after Santiago, Chile, to
benefit from zero-emission public transport promoted
by the Company. In Brazil, Enel X began operating its
first electric buses in the country, together with the
Municipality of Rio de Janeiro. These vehicles will be used
6
Integrated Annual Report Enel Américas 2021
Letter from the Chairman of the Board 7
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Indice
1.
2.
3.
16
Enel Américas at a glance
18
Principal figures
The Enel Américas Group
22
Sustainable value creation model 26
Governance
Corporate governance
Management
Audit and Internal Control
28
30
35
43
Strategy and Risk Management 64
Environment and Industrial Sector 66
69
Enel Américas’ Strategy
Strategy in figures
76
Integrating sustainability into
the business model
Risk Management
Security of information
77
102
120
8
Integrated Annual Report Enel Américas 2021
4.
5.
6.
2021 Management
Financial Management
Economic management
Environmental management
Social management
174
176
185
189
195
Enel Américas Group’s Business
Macroeconomic environment
Regulatory framework
Enel Américas’ consolidated
operations
Generation and transmission
segment by country
The path to energy transition
Electricity distribution
segment by country
Innovation and digitalization
as the focus of operations
Enel X leads the global energy
transition
126
128
129
130
137
159
160
169
170
218
Corporate Governance
Efficacy of the Board of Directors 221
Directors’ committee
232
Board of Directors’ Remuneration 238
Experience and diversity of the
Board of Directors
Relation between the
Company, shareholders,
and the general public
245
240
7.
8.
9.
Other Corporate
Regulatory Information
Articles of incorporation
Company History
Stock information and
other securities
Risk Factors
Property and facilities
Bands, patents, and insurance
Insurance
Subsidiaries and associates
248
250
252
262
267
280
280
280
282
Metrics
Metrics Social Metrics
Governance Metrics
Environmental Metrics
344
346
353
354
356
Annexes
Consolidated Financial Statements 358
576
Press Release
613
Significant Events
621
Glossary
627
Statement of Responsability
628
Company Information
Enel Américas at a glance 9
Enel is Open Power
POSITIONING
Open Power
VISION
Open Power to solve some
of the greatest challenges in
our world.
10
Integrated Annual Report Enel Américas 2021
MISSION
We open access to energy to more people.
We open the world of energy to new technology.
We open ourselves to the new use of energy.
We open up to new ways of managing energy for people.
We open ourselves to new alliances.
.
BEHAVIOR
Make decisions in everyday life and take responsibility.
Share information by being open to contribution with others.
Keep the acquired commitments carrying out activities with
commitment and passion.
Quickly modify priorities if the context changes.
Display results aiming at excellence.
Adopt and promote safe behavior and act proactively to
improve health, safety, and well-being conditions.
Strive to integrate everyone, recognize and value individual
difference (cultural, gender, age, disability, personality, etc.)
At work, be attentive to guarantee the satisfaction of
customers and / or colleagues, acting with efficiency and
speed.
Propose new solutions and do not give up when faced with
obstacles and failures.
Recognize the merit of colleagues and provide feedback
that enhances offered contributions.
VALUES
Trust
Proactivity
Responsibility
Innovation
11
Presentation of the First
Integrated Annual Report
Vision of reportability
The Integrated Annual Report is inspired by Enel SpA's
Core & More model, an approach that includes the 2021
Sustainability Report, NCG Corporate Governance Practices
No. 385, the Consolidated Financial Statements and the 2021
Integrated Annual Report. The latter represents the central
document of the corporate information system based on
information transparency, efficiency, and accountability.
The Integrated Annual Report1 communicates how the
Company's strategy, governance and management create
value for all stakeholders. It highlights the firm conviction
that the sustainability strategy is a corporate strategy and
that ESG (environmental, social and governance) issues are
of commercial nature.
The Enel Américas Group carries out a materiality analysis
that, as part of it, identifies and evaluates the main
stakeholders according to their relevance to the Company.
The result of this analysis is represented in the priority
matrix (or materiality matrix), which, by offering a global
vision of all stakeholders, provides a complete disclosure
of sustainability that incorporates the positive and negative
impacts on society, the environment, and the economy
therefore, its contribution to sustainable development. For
the purposes of the Integrated Annual Report, the issues that
have a direct impact on the creation of business value were
identified, applying a filter to the so-called primary users,
that is to say, the stakeholders belonging to the financial
community, considering the issues that the Financial Market
Commission (Spanish acronym CMF) has requested from the
SASB Standard (Sustainable Industry Classification System®
(SICS®) IF-EUElectric Utilities & Power Generators).
1. When we mention the Integrated Annual Report or Integrated Annual Report in this document, we refer to the Integrated Annual Report indistinctly or the
Annual Report as established in article 54 of Law No. 18,046 on Corporations
12
Integrated Annual Report Enel Américas 2021
Reportability Framework
CORE&MORE approach of
the Enel SpA Group.
Consolidated
Financial
Statements, Press
Releases
Submitted in accordance
with General Standard No.
30 (Section II, Title I.2.1.A) of
the CMF and prepared in
accordance with the
International Financial
Reporting Standards, issued
by the International
Accounting Standards
Board.
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Sustainability
Report
It presents Enel América's
sustainable business model
to create value for all
stakeholders and
contribute to reaching the
17 UN Sustainable
Development Goals.
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INTEGRATED ANNUAL REPORT
ENEL AMÉRICAS 2021
Corporate
Governance Practices
Presented according to General
Standard 385 of the CMF
Connectivity matrix
To represent information connectivity, the Enel Américas Group has developed a matrix that outlines the relationships between
the strategic objectives, which also clearly represent the Company’s contribution to reaching the United Nations Sustainable
Development Goals (SDGs) and, in particular, to the four key objectives of the Strategic Plan (SDG 7, SDG 9, SDG 11 and SDG 13):
governance, risks and opportunities, performance and prospects of each line of business.
Enel Américas’
Business
Value creation
model
Generation and
transmission
Integrated
business
model
Customers
in the
center
Enel X
Distribution
Governance
Strategic actions
SDGs
Risks and opportunities
Performance y KPI
Outlook
Capital allocation
to support
decarbonization.
All these
deployments of
SDGs 7, 9 and
11 will
contribute
al ODS 13
to reduce the
impacts of
climate change,
a priority on the
agenda.
Energy transition towards
emission-free generation
2020-2024
» Accelerate decarbonization by deploying new renewable capacity supported by a
robust pipeline, which includes developing new technologies
» Total investments for the 2022-2024 period will reach US$8.9 billion, corresponding to
38% renewable generation
» Growth CAPEX will account for 54% of total investments. Of this, 64% will go to
» Installed capacity from renewable
renewable generation projects.
» Installed Capacity
» Net production
» Energy sales
» % activities with zero direct
sources
emissions
Enel
Américas’
Corporate
Governance
System;
Organizational
model
Maximizing customer
value through
electrification
Create value for all
Six macro risk categories :
customers at the center
who will remain at the heart of the strategy.
Innovation, digitalization, and
» Guarantee a high level of quality and network modernization for network customers,
» Strategic;
business.
» Governance and Culture;
» RAB/Network customers
for the period. Of this amount, 33% will go to network projects and 3% to Enel X.
» (US$/Network customers )
» Leverage digital technologies to improve the level of services provided to network
» Technology and digital;
customers with relevant quality improvements to achieve high levels of network
customer satisfaction.
» Electrification and digital transformation to support energy transition, creating value
for all stakeholders, where Enel X will play a fundamental role.
» Of the total investments for the 2022-2024 period, 55% will go to the network
» Growth CAPEX will account for 54% of total investments, representing US$4.8 billion
» Compliance;
» Operational;
» Financial
» Customer Network
» Distributed Energy
» SITE
» SAIFI
» Total Smart Meters
» Total energy loss
» OPEX/Grid customer
» Charging points
» Electric buses
» Responsible demand
» Energy sold
Creating value for all our
2022-2024 period (approximate figures assume the distribution of dividends of 30%).
stakeholders
» 97% of the accumulated CAPEX plan will contribute directly to the SDGs:
» The strategic plan foresees reaching a DPS between US$0.012 and US$0.015 for the
» Total Net Income
» % Dividend Yield
» 39% will go to SDG 7 on clean and affordable energy, supported by the growth of
renewables, with the addition of approximately 3.5 GW of capacity by the end of 2024
» 55% will go to SDG 9 on Industry, Innovation, and Infrastructure, improving the
» % of total CAPEX aligned with the
resilience, reliability, digitalization, efficiency, and flexibility of our networks.
SDGs
» And finally, 3% is for SDG 11 on Sustainable Cities and Communities, mainly based on
the electrification of services such as, for example, public and private charging points
for electromobility
14
Integrated Annual Report Enel Américas 2021
Enel Américas’
Value creation
Generation and
transmission
Integrated
business
model
Customers
in the
center
Enel X
Distribution
Enel
Américas’
Corporate
Governance
System;
Maximizing customer
value through
Organizational
electrification
model
Create value for all
Business
model
Governance
Strategic actions
SDGs
Risks and opportunities
Performance y KPI
Outlook
Capital allocation
to support
decarbonization.
All these
deployments of
SDGs 7, 9 and
11 will
contribute
al ODS 13
to reduce the
impacts of
climate change,
a priority on the
agenda.
Energy transition towards
emission-free generation
» Installed Capacity
» Net production
» Energy sales
» Installed capacity from renewable
sources
» % activities with zero direct
emissions
2020-2024
» Accelerate decarbonization by deploying new renewable capacity supported by a
robust pipeline, which includes developing new technologies
» Total investments for the 2022-2024 period will reach US$8.9 billion, corresponding to
38% renewable generation
» Growth CAPEX will account for 54% of total investments. Of this, 64% will go to
renewable generation projects.
Six macro risk categories :
Innovation, digitalization, and
customers at the center
» Guarantee a high level of quality and network modernization for network customers,
who will remain at the heart of the strategy.
» Strategic;
» Governance and Culture;
» Technology and digital;
» Compliance;
» Operational;
» Financial
» Customer Network
» Distributed Energy
» SITE
» SAIFI
» RAB/Network customers
» (US$/Network customers )
» Total Smart Meters
» Total energy loss
» OPEX/Grid customer
» Charging points
» Electric buses
» Responsible demand
» Energy sold
» Electrification and digital transformation to support energy transition, creating value
for all stakeholders, where Enel X will play a fundamental role.
» Of the total investments for the 2022-2024 period, 55% will go to the network
business.
» Growth CAPEX will account for 54% of total investments, representing US$4.8 billion
for the period. Of this amount, 33% will go to network projects and 3% to Enel X.
» Leverage digital technologies to improve the level of services provided to network
customers with relevant quality improvements to achieve high levels of network
customer satisfaction.
Creating value for all our
stakeholders
» Total Net Income
» % Dividend Yield
» % of total CAPEX aligned with the
SDGs
» The strategic plan foresees reaching a DPS between US$0.012 and US$0.015 for the
2022-2024 period (approximate figures assume the distribution of dividends of 30%).
» 97% of the accumulated CAPEX plan will contribute directly to the SDGs:
» 39% will go to SDG 7 on clean and affordable energy, supported by the growth of
renewables, with the addition of approximately 3.5 GW of capacity by the end of 2024
» 55% will go to SDG 9 on Industry, Innovation, and Infrastructure, improving the
resilience, reliability, digitalization, efficiency, and flexibility of our networks.
» And finally, 3% is for SDG 11 on Sustainable Cities and Communities, mainly based on
the electrification of services such as, for example, public and private charging points
for electromobility
15
1. Enel Américas
at a glance
About Enel Americas
Thanks to the merger of Enel Green Power (EGP) and
the agreement with Grupo Energía de Bogotá SAESP,
Enel Americas consolidated its leading position in Latin
America, where it generates electricity in seven countries
and distributes energy in four of them.
Enel Americas' value creation
model Enel Americas' business strategy not only optimizes
short-term profits for shareholders, but also seeks to
create long-term value, considering the needs of all its
stakeholders and the society in general.
2021 Milestones
Enel Americas increased its generation from renewable
sources reaching 10.9GW, 69% of its total generation
capacity.
16
Integrated Annual Report Enel Américas 2021
Enel Américas at a glance 17
Enel Américas at a glance
Principal figures
Financial
Assets
liabilities
Income
Índex
Total
Workers
29.8%
Total
Assets
US$34,959
million
US$26,934 million in 2020
20.1%
Total liabilities
payable
US$19,929
million
US$16,600 million in 2020
26.1%
EBITDA
US$4,102
million
US$3,253 million in 2020
10.2%
Total
net income
US$741
million
US$825 million in 2020
38.9%
Net financial
debit
US$5,870
million
US$4,226 million in 2020
31.7%
Operating
income
US$16,192
million
US$12,292 million in 2020
6.7%
Liquidity index
0.91 times
0.85 times in 2020
(1.6)%
Total staff
16.461
Nº employees
16,731 in 2020
(1): Debt ratio
10.1%
Debt ratio (1)
1.4 times
1.3 times in 2020
8.1%
Total women
3.467
Nº workers
3.207 in 2020
18
Integrated Annual Report Enel Américas 2021
Generation and Transmission Business
100%
Total installed
capacity
15.9 GW
44%
Hydroelectric
+12%
7.0 GW
14%
Wind
0 GW in 2020
2.3 GW
Emissions
(Scope 1)
+2%
6.98 million
tCO2eq
69%
Total installed
capacity from
renewable sources
+75%
10.9 GW
10%
Solar
0 GW in 2020
1.6 GW
10%
Thermal
0%
5.0GW
In partnership with GreenerRoadshowstm,
the Company is certified as carbon neutral
under the PAS2060 certification.
Enel Américas at a glance 19
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Distribution Business
+2.1%
Network customers
26,180,129
25,639,531 in 2020
+4.0%
Distributed energy TWh
119.8
(9.3)%
SAIDI (hours)
9.8
(9.6)%
SAIFI (time)
4.7
115.2 in 2020
10.8 in 2020
5.2 in 2020
+1.6%
Lights (mn#)
849
836 in 2020
+87.9%
Charging
points Thou #
3.3
1.8 in 2020
+633.3%
E buses #
880
120 in 2020
20
Integrated Annual Report Enel Américas 2021
2021 Milestones
Enel Américas’ merger with EPG Américas
On April 1, 2021, Enel Américas completed the merger by
incorporation with EGP Américas. As part of this milestone,
the Company acquired the ownership of the non-conventional
renewable energy generation business and assets that EGP
Américas developed and owned in Central and South America
(with the exception of Chile).
This process was first voted on reaching a majority of votes at
the Extraordinary Shareholders' Meeting held on December 18,
2020. On that occasion, the merger was supported by 80.4% of
voting shares. It was a record participation in the Extraordinary
Meeting with nearly 97% of issued shares.
The merger allowed Enel Américas to position itself as a leader
in renewable energy generation, which adds to its consolidated
presence in the distribution business and in the market of
advanced energy solutions. Thus, the company moves towards
its objective of promoting energy transition in the region.
challenges in the region. Additionally, it sought to create
greater resilience in the Company's cash flows thanks
to an improved technological and geographical asset
diversification, access to new development opportunities
in Panama, Costa Rica and Guatemala and convergence
into a single business model, offering a proposal of
products and services of unified value for both customers
and users.
Said merger, once all the legal formalities were met, was
completed on March 1, 2022.
This corporate reorganization included Enel Américas’
assets in Colombia, Costa Rica, Panama and Guatemala.
The main shareholders of the new company are Enel
Américas with a 57.345% stake and Grupo de Energía de
Bogotá with 42.515%.
Following the merger, Enel Américas' perimeter was extended
to Guatemala, Costa Rica, and Panama.
2022-2024 Strategic Plan
Thanks to this operation, on December 31, 2021, Enel Américas
increased its representation of renewable sources in its parent
company from 56% to 69% of net installed capacity. At the
time of the merger, 3.7GW were added in operation and
around 1.0GW was incorporated as new capacity from April 1
to December 31, 2021.
Enel Américas and Energía Bogotá Group
Permanently searching for an efficient corporate
reorganization and as part of the investment agreement
signed between Enel Américas and Grupo Energía Bogotá
in January 2021, in relation to both subsidiaries and
planning to integrate the renewable business into their
joint investments and reach conciliation agreements, the
July Extraordinary Shareholders' Meetings of Enel-Emgesa,
Enel-Codensa and Enel Green Power approved the merger
commitment between Emgesa S.A. ESP (absorbing
company), Codensa S.A. ESP, Enel Green Power Colombia
S.A.S. ESP and ESSA2 SpA (absorbed companies), as part
of the agreement between Enel Américas and Grupo de
Energía de Bogotá.
The operation aimed to achieve a more competitive
company, capable of facing the energy transition
The Company's Strategic Plan was presented to shareholders
and the market in November 2021. It was the first post-
merger strategic plan between Enel Américas and EGP
Américas that will guide the 2022-2024 outline.
This new roadmap is marked by a strong focus on the
decarbonization process. Additionally, the Company will
continue to make important progres in electrification and
in improving network quality. The latter was reflected in the
investments that in 2021 reached US $ 1.7 billion, representing
a 39% increase as compared to the previous year, thus
improving the service quality for our customers in the region.
Geographical diversification is a great ally to continue
growing hand in hand with renewable energies. Thanks to
the consolidation of Enel Green Power's assets in South
America (except Chile) as of April 1, 2021, a total of 3.7GW of
installed capacity in operation was added and, furthermore,
1 GW new capacity has been incorporated, reaching a total
installed capacity of 15.9 GW as of December 2021. The
commitment to shareholders is to add 3.5GW of renewable
energy by 2024.
As of December 2021, 2.7GW were being developed,
representing 77% of the renewable target set for 2024. The
new projects currently under development are distributed
throughout the region, with a special focus on Brazil and
Colombia.
Enel Américas at a glance 21
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The next decade will be crucial to achieving the goals set
out in the 2015 Paris Agreement, which will involve increased
initiatives to incentivize electrification. Within this context,
customers will play a key role in gradually converting their
consumption, thus obtaining benefits in terms of costs,
efficiency, and emission reduction.
Diversified growth opportunities in Latin America
The Company is part of Enel SpA, a multinational electricity
company and a leading integrated player in the global
energy, gas, and renewable energy markets. It is present
in more than 30 countries worldwide, producing energy
with more than 90 GW of installed capacity. Enel SpA
distributes electricity through a network of more than 2.2
million kilometers and is the leading private electricity grid
operator in the world, with around 75 million end users
worldwide, concentrating the largest customer base among
its European peers.
Through the merger of EGP Américas and the agreement with
Grupo Energía de Bogotá SAESP, Enel Américas managed to
consolidate its leading position in Latin America. It incorporated
4.7 gigawatts (GW) of renewable capacity mainly in the Brazilian
and Colombian markets, countries that concentrate the most
urbanized cities in the region, offering a unique opportunity to
accelerate the energy transition process and take advantage
of clean electrification options, through the integrated
segments of generation and distribution. The Company is
poised to capture this growth, offering an attractive long-term
sustainable value generation opportunity.
company and a portfolio of projects that will allow it to
continue accelerating the energy transition process. To this
we can add an EBITDA that reached US$4,102 million and a
US$741 million net profit with a net US$5,870 million debt
and a net debt to EBITDA ratio of 1.4 times.
Through its subsidiaries, Enel Américas generates, transmits,
and distributes energy in four South American countries:
Argentina, Brazil, Colombia, and Peru and additionally
participates in the generation business in Central America:
Costa Rica, Guatemala, and Panama. This places the
Company as the largest private electricity company in Latin
America, adding an installed capacity of 15,926MW and
delivering energy to more than 26 million customers.
As part of the Enel Group, the Company adheres to the vision
and philosophy of Open Power, which means committing to
part of the greatest challenges facing the planet. To achieve
this, we desire to open energy to more people, to new
technologies, to new ways of managing it for consumers;
open up to new uses and more employees.
At the end of the year, the company had 15.9GW of installed
generation capacity, with 69% of renewables in its parent
A task that the Company will perform in accordance with
our values: responsibility, innovation, trust, and proactivity.
.
10.9 GW
installed renewable
capacity
+4.7 GW
vs previous year
5.0 GW
installed
thermal capacity
26.2 m
total network
customer in
4 countries
US$4.1 bn
EBITDA
Net Income:
US$ 0.7 bn
3,319
total charging
points
20.3 TWh
energy sold on
the free market
US$ 5.9 bn
Net Debt/EBITDA:
1.4x
Argentina
Brazil
Colombia
Peru
Panama
Costa Rica
Guatemala
22
Integrated Annual Report Enel Américas 2021
Robust Corporate Governance
The Corporate Governance rules are an essential instrument
to guarantee efficient and successful management and a
control tool for the activities carried out by the Company in
order to create sustainable value for all shareholders. These
are established pursuant to laws and regulations, which are
inspired by the principles of transparency and fairness and
in line with international best practices
Transparency in financial management
Enel Américas has implemented clear and transparent
financial policies, which have proven crucial in contexts of
economic uncertainty and market volatility. The Company
strongly believes that tax transparency is another important
dimension of sustainable finance.
The disclosure of its tax contributions in the countries in
which it operates shows the importance it attaches to fiscal
issues, their social role and, in general, transparency as a
factor that promotes sustainable development. Honesty and
integrity are at the heart of the principles of the Company’s
fiscal strategy as is the commitment to transparency. In light
of the above, Enel Américas' risk ratings reflect its track
record of meeting objectives, as well as its robust and
diversified presence in Latin America, together with an
adequate debt profile.
Sustainable business model
The companies that integrate the triple environmental, social
and governance (ESG) dimension into their management
maximize profits, minimize risks and, at the same time,
contribute to reaching the Sustainable Development Goals
(SDGs) promoted by the United Nations. The stakeholders
in society expect companies to play a central role in the
decarbonization of the global economy, which will be one of
the central aspects in investment decisions. Therefore, the
long-term value depends on how effectively they manage to
move forward in the energy transition process. Since 2016,
Enel Américas has incorporated sustainable management
into its business model, which is reflected in its outstanding
risk rankings in this area and its participation in the main ESG
indices. The Company's long-term sustainability strategy
and vision present a strength and investment opportunity.
Since 2016, the Company has increased its EBITDA by more
than 69%, while increasing activities without direct CO2
emissions by up to 89%. Enel Américas Group’s Net Profit
in 2021 was US$741 million, representing a 31% increase
as compared to 2016. The relevance of sustainability in
the Company's business is reflected through its inclusion
in the main sustainability indices and a constant increase
in its annual evaluations. These ratings are made through
specialized methodologies to measure ESG management
and are essential to support investors and analysts’ decision
regarding the identification of ESG risks and opportunities
in their investment portfolios.
Enel Américas at a glance 23
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Most used by investors
AA
AA
AA
Most comprehensive ESG assessment
Special focus
on transparency
83
81
85
BBB
3.5
3.8
4.1
38
2.6
2019
2020
2021
Scale from CCC a AAA
2019
2020
2021
Scale from 0 a 100
Most used for the second
opinion of Sustainable Finance
Balance between
ESG dimensions
53
56
47
84
83
81
2019
2020
2021
Scale from 0 a 5
Most relevant in climate
B
37
C
2019
2020
2021
Scale from 0 a 100
2019
2020
2021
Scale from 0 a 100
2021
Scale from D a A
Industry Average
1. Environmental, social and governance
24
Integrated Annual Report Enel Américas 2021
Enel Américas at a glance 25
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Sustainable value creation model
Modelo de creación de valor sostenible
Our resources
Context: Opportunities and Threats
Circular city | Peer2Peer | Innovate to Zero | Premium Business Model|
Autonomous World| Zero Latency(5G) | Competitive Environment
PROSPERITY
US$5,870 million Net financial
debt
US$15.030 million Total equity
US$12,998 million Total fixed
assets
15.9 GW Net installed
generation capacity
10.9 GW Net installed renewable
generation capacity
19,939 km Transmission
network
26.2 million Network customers
4,602 Free customers
PEOPLE
16,461 Workers
21.1% Women in proportion to
total workers
64 Women in management
positions
PLANET
use of 0.49 million m3 of water
in areas with water stress.
GOVERNANCE PRINCIPLES
PURPOSE
Open energy for a brilliant
future.
Enabling sustainable
progress.
VISION
Open energy to face
biggest global challenges.
Enel es
Open Power
How the Company does it
GOBERNANCE
RISK STRATEGY & MANAGEMENT
PERFORMANCE & METRICS
OUTLOOK
What it does
Strategic actions
Developing new renewable
capacity (Decarbonization)
Maximizing customer
value via electrification
Creating value for the whole society
CREATING LONG TERM SUSTAINED VALUE
BUILDING THE FUTURE WITH PEOPLE AT THE CENTER
Automation and Robotics| Gig Economy | Creativity and Design Thinking
| Competition by Talent and STEAM
BUILDING THE FUTURE WITH PEOPLE AT THE CENTER
New ways of working (Habits and spaces) | Care and Inclusion|
"Gentle Leadership
26
Integrated Annual Report Enel Américas 2021
Context: Opportunities and Threats
Connected Living | Emerging Commodities | Environmental and
Climate Emergency | Heterogenous Society (Millennials, Gen Y and Z)
| Covid-19
MISSION
Open to energy access for more people.
Open to the new technologies in energy.
Open to new energy uses
Open to new forms of energy management.
Open to new alliances.
VALUES
Trust
Proactivity
Responsibility
Innovation
Industry Trends
Directly addressed by Enel
DECARBONIZATION
PLATAFORM
ELECTRIFICATION
& DIGITAL
Result and value
generated for
stakeholders
PROSPERITY
US$172 million economic value
generated by the Enel Américas
Group
US$806 million total taxes
US$ 963 million dividends paid
48.7 TWh Energy generated
119.8 TWh Energy sold
US$16,192 million Total
Revenue
US$4.102 million EBITDA
US$741 million Profit
attributable to controller
4.7 GW Additional installed
renewable capacity
3,319 Charging points
880 Electric buses
SAIDI (min.) 588
PEOPLE
accidents
13 average days lost due to
39 Hours of Training (Average
Hours Per Worker)
15.4% Turnover
PLANET
6.98 million tCO2eq
Direct greenhouse gas
emissions – Scope 1
Net Zero Emissions
Commitment to 2040
Modelo de creación de valor sostenible
Context: Opportunities and Threats
Our resources
Circular city | Peer2Peer | Innovate to Zero | Premium Business Model|
Autonomous World| Zero Latency(5G) | Competitive Environment
Context: Opportunities and Threats
Connected Living | Emerging Commodities | Environmental and
Climate Emergency | Heterogenous Society (Millennials, Gen Y and Z)
| Covid-19
MISSION
Open to energy access for more people.
Open to the new technologies in energy.
Open to new energy uses
Open to new forms of energy management.
Open to new alliances.
VALUES
Trust
Proactivity
Responsibility
Innovation
GOBERNANCE
RISK STRATEGY & MANAGEMENT
PERFORMANCE & METRICS
OUTLOOK
Industry Trends
Directly addressed by Enel
DECARBONIZATION
PLATAFORM
& DIGITAL
ELECTRIFICATION
PROSPERITY
US$5,870 million Net financial
debt
assets
US$15.030 million Total equity
US$12,998 million Total fixed
15.9 GW Net installed
generation capacity
10.9 GW Net installed renewable
generation capacity
19,939 km Transmission
network
26.2 million Network customers
4,602 Free customers
PEOPLE
16,461 Workers
21.1% Women in proportion to
total workers
64 Women in management
positions
PLANET
use of 0.49 million m3 of water
in areas with water stress.
GOVERNANCE PRINCIPLES
Open energy for a brilliant
Enabling sustainable
PURPOSE
future.
progress.
VISION
Open energy to face
biggest global challenges.
Enel es
Open Power
How the Company does it
What it does
Strategic actions
Developing new renewable
capacity (Decarbonization)
Maximizing customer
value via electrification
Creating value for the whole society
CREATING LONG TERM SUSTAINED VALUE
BUILDING THE FUTURE WITH PEOPLE AT THE CENTER
Automation and Robotics| Gig Economy | Creativity and Design Thinking
| Competition by Talent and STEAM
BUILDING THE FUTURE WITH PEOPLE AT THE CENTER
New ways of working (Habits and spaces) | Care and Inclusion|
"Gentle Leadership
Result and value
generated for
stakeholders
PROSPERITY
US$172 million economic value
generated by the Enel Américas
Group
US$806 million total taxes
US$ 963 million dividends paid
48.7 TWh Energy generated
119.8 TWh Energy sold
US$16,192 million Total
Revenue
US$4.102 million EBITDA
US$741 million Profit
attributable to controller
4.7 GW Additional installed
renewable capacity
3,319 Charging points
880 Electric buses
SAIDI (min.) 588
PEOPLE
13 average days lost due to
accidents
39 Hours of Training (Average
Hours Per Worker)
15.4% Turnover
PLANET
6.98 million tCO2eq
Direct greenhouse gas
emissions – Scope 1
Net Zero Emissions
Commitment to 2040
Enel Américas at a glance 27
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2 Governance
Corporate Governance
Enel Americas' Corporate Governance structure is
a fundamental element to guarantee efficient and
successful management. It is also a tool to control the
activities carried out by the Company with a view to
creating value for shareholders and their stakeholders.
Values and ethical pillars
The Company's governance is inspired by the principles
of transparency and fairness. These rules are in line
with the recommendations contained in the Enel
Americas Corporate Governance Guidelines that follow
international best practices.
Audit and Internal Control
The Company has implemented an Internal Control and
Risk Control System that brings together the rules and
procedures that permit to identify, measure, manage and
supervise the main corporate risks and which contributes
to guaranteeing the value of assets, the efficiency and
effectiveness of business processes, the reliability of
financial information and compliance with laws and
regulations, bylaws and internal procedures.
28
Integrated Annual Report Enel Américas 2021
Governance 29
Governance
Corporate governance
Ownership and control
Ownership structure
The Company’s capital is divided into 107,281,698,561 shares, without nominal value, all of the same and unique series
where each share represents a voting right, there being no privileged shares on the part of the State.
As of December 31, 2021, Enel Américas registered 22,970 shareholders and the total shares were subscribed and paid,
their ownership distributed as follows:
Ownership structure
December 31, 2021
Shareholders
Enel SpA
Pension Fund Managers
Other local shareholders
Foreign shareholders
ADS
Other shareholders
Total
Number of shares
% of shareholding
88,260,048,702
8,089,483,012
2,173,364,335
5,760,918,189
2,035,386,428
962,497,895
107,281,698,561
82.3%
7.5%
2.0%
5.4%
1.9%
0.9%
100%
(*)Stock market
capitalization
US$ 11.7
bn
82.3%
1.9%
11.4%
7.5%
0.9%
Pension funds
Institutional investors
ADS
Enel SpA
Others
(*) Market capitalization as of December 31
(*) Market capitalization as of December 31
30
Integrated Annual Report Enel Américas 2021
Controller’s identification
As defined in Title XV of Law No. 18045 1, Enel Américas S.A. is an open joint-stock company directly controlled by Enel SpA,
an Italian joint-stock company that as of December 31, 2021, held 82.3% of the shares issued by the Company 2.
Enel SpA shareholders
Ministero dell’Economia e delle Finanze de Italia
Other investors (Institutional and Retail)
Total
Stake
23.59%
76.42%
100.00%
Following t acquisition of the shares and ADSs through the Offer, Enel SpA increased its stake in Enel Américas’ corporate
capital from 75.18% to approximately 82.3%.
Joint action covenants
The members of the controller do not have joint action covenants.
100%
76.4%
23.6%
Ministero dell’Economia
e delle Finanze de Italia (*)
Retail and Institutional Investors
(*) Government institutions do not own Golden Shares.
1. Securities Market Law..
2. Following the acquisition of the shares and ADSs through the Offer, Enel SpA increased its stake in
Enel Américas' shareholding from 75.18% to approximately 82.3%.
Governance 31
(*)Stock market
capitalization
US$ 11.7
bn
82.3%
1.9%
11.4%
7.5%
0.9%
Pension funds
Institutional investors
ADS
Enel SpA
Others
(*) Market capitalization as of December 31
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Twelve largest shareholders
The twelve largest shareholders as of December 31, 2021, are detailed below:
Twelve largest shareholders
Name or corporate name
Enel SpA
Citibank N.A. as per Circular 1375 CMF
Banco de Chile on behalf of State Street
AFP Habitat S.A. for pension fund C
Banco de Chile on behalf of non-resident third parties
Banco Santander on behalf of foreign inv.
AFP Habitat S.A. type A fund
AFP Habitat S.A. type B fund
AFP Provida S.A. type C pension fund
AFP Capital S.A. type C pension fund
Banchile Corredores de Bolsa S.A.
AFP Cuprum S.A. type C pension fund
Subtotal twelve largest shareholders
Other 22,958 shareholders
Total
Rut
59.243.980-8
59.135.290-3
97.004.000-5
98.000.100-8
97.004.000-5
97.036.000-K
98.000.100-8
98.000.100-8
76.265.736-8
98.000.000-1
96.571.220-8
76.240.079-0
-
-
Number of shares
88,260,048,702
2,035,386,428
1,791,978,737
1,546,214,424
1,459,166,273
1,389,934,086
913,143,817
728,766,344
638,095,597
589,651,818
447,947,126
438,462,764
100,238,796,116
7,042,902,445
107,281,698,561
%
82.3%
1.9%
1.7%
1.4%
1.4%
1.3%
0.9%
0.7%
0.6%
0.6%
0.4%
0.4%
93.4%
6.6%
100.0%
There are no shareholders who belong to the Company’s founding families nor to the Government or state entities that hold
the Company’s securities that exceed 5% of their ownership.
Major changes in ownership
Capital increase
The Extraordinary Shareholders' Meeting held on December 18, 2020, proposed the merger with EGP Américas and the capital
increase of US$6,036,419,845. It involved issuing 31,195,387,525 new ordinary nominative shares, all of the same series and
without nominal value, fully subscribed and paid from the incorporation of the EGP Américas assets, as an absorbed company.
For these purposes, 0.41 shares of Enel Américas were exchanged for each EGP Américas share held by the sole shareholder
of the latter. No fractions of shares were considered. On April 1, 2021, the merger was completed in compliance with all the
agreed copulative conditions precedent. For further details, please review Note 5 to the Consolidated Financial Statements.
Own shares in portfolio
As of December 31, 2021, the Company’s own shares in the portfolio totaled US$272 thousand, represented by 1,809,031
shares, acquired as a result of the merger process with EGP Américas.
32
Integrated Annual Report Enel Américas 2021
Major changes to ownership
Rut
Name or corporate name
59.243.980-8
Enel SpA
97.004.000-5
76.240.079-0
97.036.000-K
76.265.736-8
98.000.100-8
98.000.000-1
59.135.290-3
76.762.250-3
Banco de Chile o0n behalf of non-resi-
dent third parties
AFP Cuprum S.A.
Banco Santander on behalf of foreign inv.
AFP Provida S.A.
AFP Habitat S.A.
AFP Capital S.A.
Citibank N.A. as per 1375 C.M.F.
AFP Modelo S.A.
98.001.200-K
AFP Planvital S.A.
97.023.000-9
96.571.220-8
80.537.000-9
96.683.200-2
96.519.800-8
90.249.000-0
96.767.630-6
84.177.300-4
76.237.243-6
59.153.850-0
Banco Itaú Corpbanca on behalf of
foreign inv.
Banchile Corredores de Bolsa S.A.
LarrainVial S A Corredora de Bolsa
Santander Corredores de Bolsa Limitada
BCI C. de B. S.A.
Bolsa de Comercio de Santiago Bolsa De
Valores
Banchile Adm. General De Fondos S.A.
BTG Pactual Chile S.A. C. de B.
Soc. Adm. de Fdos de Cesantía de Chile
BNP Paribas Arbitrage SNC
No. Shares as of
12.31.2021
87,554,801,852
4,012,262,128
1,038,512,729
1,552,396,506
1,235,883,003
3,617,711,152
1,456,459,120
2,740,633,278
416,682,904
278,068,591
134,005,714
447,947,126
150,708,611
173,280,303
59,391,042
20,664,628
43,622,460
152,485,028
51,851,290
16,270,647
No. Shares as of
12.31.2020
49,456,102,073
5,767,941,253
2,230,720,025
2,583,033,866
2,263,094,030
3,606,315,832
1,835,064,313
2,581,827,078
570,290,984
387,177,460
273,704,936
468,756,403
240,317,514
234,595,271
147,191,170
97,371,430
101,509,595
177,884,921
104,908,770
68,081,034
variation pp
16.60
(3.80)
(2.00)
(1.90)
(1.80)
(1.40)
(1.10)
(0.80)
(0.40)
(0.20)
(0.20)
(0.20)
(0.20)
(0.10)
(0.10)
(0.10)
(0.10)
(0.10)
(0.10)
(0.10)
Stock Exchange transactions
of related persons
Company’s ownership of principal directors
and executives
On April 21, 2021, Enel SpA acquired 14,104,937 ADS. Each
ADS is equal to 50 common shares. In the offer, 14,104,937
ADS were acquired, corresponding to 705,246,850 shares.
The unit price of each ADS corresponds to $7,000,
considering a price per share of $140.
On April 21, 2021, Enel SpA acquired 6,903,312,254 of the
Company’s shares. The transaction corresponds to the
settlement of the takeover bid finalized on April 13 and
finalized on April 20. The manager of the takeover bid was
BTG Pactual Chile S.A. Corredores de Bolsa. The reported
information corresponds only to the Chilean offer.
The Shareholders’ Register stated that, as of December
31, 2021, no principal executive had ownership, directly or
indirectly, of the Company. The General Standard (Spanish
acronym NCG) No. 30 of the Financial Market Commission
(Spanish acronym CMF) indicates that the share status and
their transactions must be reported during the period of
the year reported in this Integrated Annual Report. This
information is also required pursuant to Law No. 18045 on
the Securities Market and according to the Manual for the
Management of the Company’s Information of Interest to
the Market. At the same time, the Company's Articles of
Association do not state any requirements for the Chief
Executive Officer or the Senior executives to hold securities
issued by Enel Américas S.A.
Governance 33
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34
Integrated Annual Report Enel Américas 2021
Enel SpA's Corporate Governance system complies with the
principles set out in the Corporate Governance Code of the
Milan Stock Exchange, which contains international best
practices. All this is reflected in the Enel Group's Corporate
Governance Guidelines.
As part of the above and in line with its parent company’s
indications, the Enel Américas Group has put in place
Corporate Governance Guidelines, a manual that, among
other aspects, establishes the general governance principles
on which the Company's Corporate Governance is based,
together with the guidelines for its implementation, aimed
at applying it uniformly in all the companies that are part
of the Group.
The governance manual recognizes the advantages of
the Company coordinating strategies and guarantees
due respect for the legal independence of subsidiary
companies, within a framework designed to adequately
protect the corporate interest of each of them and the rights
of their stakeholders. All this, with special consideration for
transactions with related parties and conflicts of interest. The
procedures and rules of conduct are also established with a
view to guaranteeing strict compliance with the directors’
duty of loyalty towards the Enel Américas Group companies
and avoiding any situation that may adversely affect the
fulfillment of said duty.
Enel Américas' Corporate Governance structure is a
fundamental element in guaranteeing efficient and
successful management. Furthermore, it is a tool to control
the activities carried out by the Company, with a view to
creating value for shareholders and stakeholders.
Pursuant to laws and regulations, the Company’s Governance
is inspired by the principles of transparency and fairness.
These rules are in line with the recommendations contained
in Enel Américas ' Corporate Governance Guidelines, which,
in turn, follow international best practices.
Enel Américas ' Internal Control and Risk Management
System (ICRMS) is based on and reflects the principles
developed in the Guidelines of the Enel Group's Internal
Control and Risk Management System. The entities linked
to the risk control and management function are the
areas of Internal Audit, Risk Management, Internal Control,
and the Board of Directors, in accordance with the best
international practices of Corporate Governance. For more
detail, the reader can review Enel Américas ' Risk Control
and Management Policy.
Management
As established in the Articles of Association, the Company is managed by a Board of Directors 1 composed of seven
members - who may or may not be shareholders- nominated by the ordinary shareholders’ meeting, and who may be
re-elected; the appointment of alternate directors is not contemplated. It is established that the Company will have a
Chief Executive Officer, who will be appointed by the Board of Directors and will hold all relevant commercial faculties and
others expressly granted by the Board. This position is incompatible with that of chairman, director, auditor, or accountant.
Shareholders’ Meeting
External Audit Firm
(7 members)
Board of Directors
Directors’ Committee
(3 members)
Functions:
Audit
Sustainability
Stakeholders
1. Article 31 of Law No. 18046 deals with the management of public limited companies.
Governance 35
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Shareholders meet in ordinary and extraordinary meetings. The first are held once a year within the four-month period following
the time the balance sheet is issued, while the second can be held at any time - when required by corporate requirements - to
decide on matters established by law or bylaws.
Subjects of ordinary shareholders’ meeting: some of the subjects that are addressed include, among others:
• Reviewing the Company’s situation and external auditors’ reports.
• Approving or rejecting the report and the balance sheet.
• Distributing profits for each financial year and, in particular, dividend distribution
• Electing or renewing members of the Board of Directors.
• Other matters of corporate interest that are not typical of an extraordinary meeting.
• Appointing independent external auditors annually.
• Approving the investment and financing policy proposed by the management according to the terms contemplated in article
119 of Decree-Law No. 3500 of 1980 and its amendments.
Subjects of extraordinary shareholders’ meeting: some of the subjects that are addressed include, among others:
• Dissolving the Company.
• Transformation, merger or division of the company and the reform of its bylaws.
• Issuing bonds or debentures convertible into shares.
• Disposing of 50% or more of its assets and other matters that by law or by these bylaws correspond to its knowledge or to
the competence of the shareholders' meetings.
• Furthermore, the matters under the competence of the extraordinary shareholders’ meetings are the disposal of the Company’s
assets or rights declared essential for its operation in the investment and financing policy, as well as setting up relevant
guarantees, and the anticipated modification of the investment and financing policy approved by the ordinary meeting.
Extraordinary shareholders’ meetings in 2021
Board of Directors
Pursuant to the provisions of articles 32 and 56 No. 3 of
Law No. 18046 on Corporations and 20 No. 3 of the Articles
of Association, the Ordinary Shareholders' Meeting of April
29, 2021 convened to decide on the total renewal of the
seven-member Board of Directors, which was nominated for
a period of three years. Due to the context of the pandemic,
the Annual Meeting was held remotely with equally remote
voting system, to protect the health of shareholders and
staff.
Participation in Annual Shareholders’ Meeting
Pursuant to the provisions of article twenty three of the
Articles of Association, the meetings are established in first
summons with an absolute majority of the shares issued
with voting rights. The last Annual Meeting was held with a
quorum of 97.19%.
Nomination
Pursuant to the provisions of article 73 of the Regulations
on Corporations, the list of all candidates for directors was
published on the Company's website, more than two days
before the indicated meeting, so that the public could
be informed in a timely manner about the capabilities,
conditions and experiences of all the candidates.
Composition of the Board of Directors
The Board of Directors in force as of December 31, 20212,
was elected at the Ordinary Shareholders' Meeting held on
April 29, 2021.
At the Meeting of the Board of Directors held on April 29 , Mr.
Francisco de Borja Acha Besga was appointed as Chairman
of the Board of Directors and of the Company; on the same
occasion, Mr. Domingo Valdés Prieto was nominated as
Secretary of the Board.
36
Integrated Annual Report Enel Américas 2021
Board diversity
Composition of the Board of Directors
CHAIRMAN OF THE BOARD(*)
Francisco de Borja Acha Besga
DIRECTORS
Giulia Genuardi
Francesca Gostinelli
José Antonio Vargas Lleras
Hernán Somerville Senn (1)
Patricio Gómez Sabaini (1)
Domingo Cruzat Amunátegui (1)
29%
FEMALE
0% in 2020
29%
Between
41 and 50 years old
43% in 2020
29%
<3 years
0% in 2020
SECRETARY
Domingo Valdés Prieto
71%
MALE
100% in 2020
43%
14%
14%
Between
51 and 60 years old
50% in 2020
Between
61 and 70
years old
35% in 2020
>70 years
old
17% in 2020
57%
Entre
3 y 6 years
86% in 2020
14%
More than
12 years
14% in 2020
14%
Argentinean
14% in 2020
29%
Chilean
29% in 2020
14%
14%
Colombian
14% in 2020
Spanish
14% in 2020
29%
Italian
29% in 2020
The detail of each directors’ experience can be found in the Chapter "Corporate Governance Report".
1. Independent proposed by the controller.
R
E
D
N
E
G
E
G
A
Y
T
I
R
O
N
E
S
I
Y
T
I
L
A
N
O
I
T
A
N
Governance 37
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Experience Matrix of the Board of Directors’
The Board of Directors has the combination of experience and capabilities that allow the directors to correctly direct and
manage the Company. Below we present the experience matrix:
s
e
u
s
s
i
l
a
t
n
e
m
n
o
r
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v
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e
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t
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y
t
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r
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c
e
s
r
e
b
y
c
d
n
a
l
o
r
t
n
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s
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r
d
n
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e
c
n
a
n
fi
,
t
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d
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n
o
i
t
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n
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m
m
o
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,
e
c
n
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n
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e
t
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o
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a
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l
p
m
o
c
d
n
a
l
a
g
e
l
Director
Francisco de Borja Acha Besga
Francesca Gostinelli
Guilia Genaurdi
Hernán Somerville Senn
Domingo Cruzat Amunátegui
José Antonio Vargas
Patricio Goméz Sabaini
Role and duties of the Board of Directors
Pursuant to the Law on Corporations and the Articles of Association, the Board of Directors is vested with the broadest powers
for the ordinary and extraordinary management of the Company and holds the authority to perform all the actions it deems
appropriate to implement and meet the Company’s corporate purpose. For more detail, review the Articles of Association.
Board committee
The Company's leadership and management at the Enel
Américas Group are inspired by international best practices
and, as part of them, the Board of Directors aims to create value
for all shareholders in the medium and long term.
Article 50 bis of the Law on Corporations states that open
corporations that meet the requirements indicated in that
point, as is the case of Enel Américas, must appoint at least
one independent director. Additionally, pursuant to articles
twenty and thirty of the Articles of Association, as long as the
Company is an issuer of securities duly registered with the New
York Stock Exchange (NYSE), the integration, operation and
powers of the Directors’ Committee shall also be governed -
n any case that is not contrary to the Chilean legislation - by
the mandatory provisions for the so-called Audit Committees
established by the Sarbanes Oxley Act (SOX) of the United
States of America and, consequently, all its members must
be independent in accordance with these criteria.1
1. At the Extraordinary Shareholders' Meeting of April 22, 2010, the Articles of Association were modified and the Audit Committee was merged with the Board
Committee.
38
Integrated Annual Report Enel Américas 2021
Composition
At the ordinary meeting of the Board of Directors held on April 29, 2021, the members of the Directors’ Committee were
appointed, including directors Mr.. Hernán Somerville Senn, Mr. Patricio Gómez Sabaini and Mr. Domingo Cruzat Amunátegui.
Pursuant to the provisions of Circular Letter No. 1956 issued by the CMF, all members of the aforementioned committee are
independent directors. The Board of Directors appointed Mr. Hernán Somerville Senn as financial expert of the Directors’
Committee, and he was also appointed Chairman of the corporate entity. .Mr. Domingo Valdés Prieto was nominated its secretary.
Independent Directors
Chilean regulations do not offer an exact definition of the concept of an independent director. However, article 50 bis of Law
No. 18046 provides the following criteria to define when a director is not considered independent: those who have been, at any
time within the last 18 months, in any of the following circumstances detailed in the box, will not be considered independent.
Those who:
1 . Maintain any economic, professional, credit or
commercial relationship, interest, or dependence, of
a relevant nature and volume, with the Company, the
Group’s other companies, its controller, or with the
principal executives of any of them, or who have been
directors, managers, administrators, principal executives
or advisors thereof.
2. Maintain a relationship of kinship up to the second
degree of consanguinity or affinity, with the people
indicated in the previous number.
3. Have been directors, managers, administrators, or
principal executives of non-profit organizations that have
received relevant contributions, aid or donations from the
persons listed in number 1).
4. Have been partners or shareholders who have owned
or controlled, directly or indirectly, 10% or more of the
capital; directors; managers; administrators or principal
executives of entities that have provided legal or
consulting services, for relevant amounts, or external
audit, to the persons indicated in number 1).
5. Have been partners or shareholders who have owned
or controlled, directly or indirectly, 10% or more of the
capital; directors; managers; administrators or principal
executives of the company's main competitors, suppliers,
or customers.
Under these criteria, Mr. Hernán Somerville Senn, Mr. Patricio Gómez Sabaini and Mr. Domingo Cruzat Amunátegui are Enel
Américas’ independent directors.y Domingo Cruzat Amunátegui.
Summary of Comments and Proposals from Shareholders and the Directors’ Committee
Between January 1 and December 31, 2021, Enel Américas S.A. did not receive comments or proposals regarding the progress
of the corporate business, from the Directors’ Committee or shareholders who own or represent 10% or more of the shares
issued with voting rights, pursuant to the provisions of articles 74 of Law No. 18046 and 136 of the Regulations on Corporations.
Governance 39
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Organizational chart
Below is the organizational chart and the executive team reported to the Financial Market Commission:
CHAIRMAN OF THE BOARD
Francisco de Borja Acha Besga
CEO ENEL AMÉRICAS
Mauricio Bezzecheri(*)
Executives
INTERNAL AUDIT
Eugenio Belinchón Gueto (*) (**)
ADMINISTRATION, FINANCE,
PLANNING AND CONTROL
Aurelio Bustilho de Oliveira (*)
PEOPLE AND ORGANIZATION
Liliana Schnaidt Hagedorn (*)
COMMUNICATIONS
Carolina Ricke Hunting
LEGAL COUNSEL AND BOARD SECRETARY
Domingo Valdés Prieto (*)
ENEL X SOUTH AMÉRICA
Simone Tripepi (*)
(*) Senior Executives reported to the CMF
(**) The Internal Audit Management reports directly to the Company's board of directors
40
Integrated Annual Report Enel Américas 2021
(*) Senior Executives reported to the CMF
(**) The Internal Audit Management reports directly to the Company's board of directors
Senior executives
Chief Executive Officer
Mr. Maurizio Bezzeccheri (3)
ID card: 26.490.357-2 (*)
Nationality: Italian
Profession: doctor "cum laude" in Chemical Engineering,
University of Naples; R&D Development of Steam Generators;
Official Professional Qualification to practice engineering.
Date of Birth: July 2, 1958
Date of appointment: August 1, 2018
Internal Audit Manager
Mr. Eugenio Belinchón Gueto(2) (3) (5)
ID card: 24.544.814-7
Nationality: Spanish
Profession: Bachelor of Economics,Universidad Complutense
de Madrid
Date of birth: 5 August 1976
Date of appointment: 01 February 2022(5)
Administration, Finance, Planning and Control
Mr. Aurelio Bustilho de Oliveira (3) (4)
ID card: 26.537.505-7
Nationality: Brazilian
Profession: Business Administrator, University of Brasilia
MBA from Universidad Federal Rio Janeiro/ COPPEAD
Date of Birth: July 29, 1968
Date of appointment: October 1, 2018
Legal Counsel and Secretary of the Board of
Directors
Mr. Domingo Valdés Prieto (1) (3)
ID card: 6.973.465-0
Nationality: Chilean
Profession: lawyer, Universidad de Chile
Master of Law, University of Chicago (United States of
America)
Date of Birth: March 25, 1964
Date of appointment: April 30, 1999
Manager Enel X South America
Mr. Simone Tripepi(3)
ID card 25.067.660-3
Nationality: Italian
Profession: engineer, Universita Degli studi di Roma “Tor
Vergata”
Date of Birth: November 1, 1970
Date of appointment: August 29, 2019
1. He also holds the same position at Enel Chile.
2. The Internal Audit Management reports directly to the Company's Board.
3. The executives identified correspond to senior executives reported to the CMF
4. In charge of the Planning and Control Management on an interim basis as of October 27, 2021, previously this position was held by Mr. Francisco Miqueles.
5. Mr. Euguenio Belinchón Ghetto took office on February 1, 2022, replacing Mr. Raffaele Cutrignelli, who held the role of internal audit manager between October
1, 2016 and January 31, 2022.
Governance 41
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Remuneration of senior executives
In 2021, the remuneration and benefits received by the Chief Executive Officer and senior executives of the Company reached
US$3,869 thousand in fixed remuneration and US$95 thousand in short- and long-term benefits. In turn, during 2020, the
remuneration and benefits received by the Chief Executive Officer and senior executives of the Company totaled US$3,495
thousand in fixed remuneration and US$155 thousand in short- and long-term benefits.
These amounts include the principal executives present as of December 31 of each year, as well as those who left the Company
during the respective year.
Indemnities paid to managers and senior executives
No compensation was paid for years of service during the term of 2021 and 2020.
Benefits for senior executives
As a benefit, the Company maintains supplemental health insurance and catastrophic insurance for senior executives and
members of their household accredited as dependents. In addition, there is life insurance for every senior executive. These
benefits are granted in accordance with each employee’s managerial level. In 2021, this amount was US$4,544, a value that
is included in the remuneration received by senior executives.
Incentive plans for managers and senior executives
PFor its senior executives, Enel Americas has an annual bonus plan for meeting objectives and level of individual contribution
to the Company's results.
It includes a definition of bonus ranges according to the hierarchical level, which consist of a certain number of gross monthly
remunerations.
Below are the Chief Executive Officer's variable incentives:
60% relates to ESG objectives
Macro goal
Target
Net
Income
Latin
America
FFO Latin
America
Profitability
Financial
Safety
Weighting
25%
Range
Maximum
120%
Dimension
Economic
15%
Maximum
120%
Financial
Safety
in the
workplace
20%
Maximum
120%
ESG
Business
Customer's
operations
20%
Maximum
120%
ESG
Business
20%
Claims
(Commercial
operations)
Maximum
120%
ESG
1. Includes renewable energy capacity, customer service and others.
42
Integrated Annual Report Enel Américas 2021
Audit and Internal Control
Values and ethics pillars
Enel Américas works continually to improve people's life quality
Enel SpA Group’s members share the same objectives, mission, vision, and commitment. The Enel brand is a visible sign of
its global identity and Enel Américas is part of this way of managing energy, a task it carries out hand in hand with its Open
Power values: co-confidence, responsibility, innovation, and proactivity.
Open Power Values
• Trust
Enel Américas' work is based on transparency: in its power
plants, distribution networks, offices, and digital channels
that the Company uses to link up with its customers. Its
success comes from the trust the Company has built and
maintains day by day with its communities and the people
it works with.
• Responsibility
Enel Américas seeks people who want to improve life on the
planet, along with proposing solutions to climate change
challenges and the growing need for clean energy, bringing
electricity to more than one billion people who still cannot
access it.
• Innovation
Enel Américas promotes innovation to guarantee that
the best and most creative ideas contribute to improving
people's lives.
• Proactivity
Enel Américas has an ambitious vision to improve the quality
of life using sustainable energy. To achieve this, the Company
needs creative people who can think innovatively, who are able
to question themselves and see challenges as opportunities.
The Open Power values that inspire Enel Américas ' governance
system represent a fundamental pillar of its business model,
integrating, as one of its objectives, the effort to produce real
impact on the growing energy problems present in the places
where the Company operates. This makes it possible to multiply
the effects of the progress achieved. This is the reason why the
Company delivers more and more services to a greater number
of people in more countries, thus boosting local economies
and expanding access to energy wherever possible.
All this benefits the needs of the Company’s customers,
shareholders’ investments, as well as the competitiveness of the
countries in which the Company operates and the expectations
of all those who work in it.
Governance 43
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The Company’s Governance Pillars
Enel Américas’ governance is based on three pillars:
• Integrity.
• Transparency and privacy of information.
• Environment, community, and employees.
Enel Américas understands compliance as an integrated
compliance management system, which includes the regulatory
system and internal commitment related to corporate ethics –
which translates into complying with the law – and regulatory
obligations, in addition to those that the Company has
voluntarily imposed.
The Compliance Management System follows the guidelines
of ISO 37301: 2021. Managment Systems – Requirements
with guidance for use1, which allows the Company to develop
and disseminate a compliance culture that is effective and
robust in relation to the risks related to it. The International
Standard establishes the necessary requirements to prevent,
detect and confront bribery and corruption.
Another element of the System is the ISO 37001 certification
for the maximum time allowed (three years), a standard that is
applied to prevent, detect, and confront bribery and corruption,
along with the voluntarily assumed commitments.
The System focuses on identifying risks and designing,
implementing, and improving controls and behavioral
standards in operations considered risky. It is part of
the Enel Américas Compliance Program and its highest
governing entity is the Board of Directors, which, together
with the Company's Senior Management, promote the
prevention of any type of bribery in daily activities and
operations.
Components of the Compliance Management
System
The documents that are considered essential for the
Compliance Management System are the Enel Global
Compliance Program, the Code of Ethics, the Zero Tolerance
with Corruption Plan, and the Criminal Risk Prevention Model
(Spanish acronym MPRP).
All Enel Américas subsidiaries have put in place a
Compliance Management System, aligned with Enel SpA
Group’s guidelines and with specific regulatory requirements.
In those companies that are not directly controlled, joint
ventures, related companies or suppliers and contractors,
the observance of local regulations and policies that are
aligned with local legislation and Enel Américas standards
is encouraged.
Tool that promotes ethical culture and transparency. It incorporates
international best practices:
• FCPA
• UK Bribery Act
• Transparency International
• OCDE
• ISO37001
+
Other Internal
Rules and
Regulations
1. ISO 37001:2016 Anti-Bribery Management System.
44
Integrated Annual Report Enel Américas 2021
BOARD OF DIRECTORS
Compliance Officer/
Prevention Officer
MPRP Coordinator
Executive Team
Certifications and
Initiatives
CODE OF ETHICS
PROCEDURES
AND POLICIES
Third parties and
due diligence
Fraud risk
Evaluation
ZERO TOLERANCE
WITH CORRUPTION
PLAN
Control
environment
Sensitive
Processes
CRIMINAL RISK
PREVENTION
MODEL
Complaints channel and
whistleblowing
PROTOCOLS
ENEL GLOBAL
COMPLIANCE
PROGRAM
Digitization and
continuous
monitoring
Communication
and Training
Governance 45
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The evaluation and monitoring of internal and external implementation is carried out through the Compliance Road Map (CRM),
a methodology that permits to work and plan medium-term activities associated with the Compliance Management System and
the MPRP. Its objective is to monitor, evaluate and improve Enel Américas’ MPRP1, as well as contribute to the Groups’ Corporate
Governance and sustainability strategy. The CRM has several action pillars that involve different stakeholders:
COMMUNITY/CUSTOMERS
Convey the Group’s Commitment in terms
of transparency and integrity in the
development of its activities, to build trust
with communities and customers.
SUPPLIERS AND
CONTRACTORS
Transfer our culture and
commitment to Ethics and
Compliance, and jointly,
establish and / or promote
best practices associated
with this issue.
Our Compliance
model
IINSTITUTIONAL
STAKEHOLDERS & NGO
Combine and develop
standards and practices of
Ethical and Anti-Corruption
compliance with Civil Society
and government organizations.
OUR PEERS
Learn the best practices of the electricity
industry and markets, and at the same time,
promote standards carried out entirely in
the Group. These actions will allow us to add
value to our Corporate Governance and the
industry.
1. Criminal Risk Prevention Model (MPRP
46
Integrated Annual Report Enel Américas 2021
Governance 47
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Code of Ethics
Enel Global Compliance Program (EGCP)
Enel Global Compliance Program (EGCP) is a tool that
reinforces the proactive prevention of corporate criminal
liability, pursuant to Italian Legislative Decree 231. It is
designed to reinforce the Company's commitment to the
highest ethical, legal, and professional standards meant to
improve and preserve its reputation and to help prevent
Enel Américas Group’s criminal liability. This document is
inspired by the most relevant international regulations on
the subject, including ISO 37001, Foreign Corrupt Practices
Act (USA) and Bribery Act (UK).
Additionally, the Company incorporated the United Nations
definitions, the Global Pact and the Sustainable Development
Goals, especially Goal 16: Promote just, peaceful and
inclusive societies pursuant to Principle No. 10 of the United
Nations Global Pact. Under said principle, companies commit
to fighting corruption in all its forms, including extortion and
bribery. Enel Américas contributes through the application
and maintenance of the Compliance Management System
pillars.
Crimes covered by Enel Global
Compliance (EGCP)
Bribery/corruption offences.
Other crimes against public administration.
Accounting fraud. Market abuse.
Financing of terrorism and money laundering crimes
of capitals.
Crimes against individuals.
Crimes against safety and health.
Crimes against the environment.
Cyber crimes.
Crimes against copyright.
Enel Américas and its subsidiaries have put in place a Code
of Ethics that guides the actions of directors and employees
with occasional or temporary contractual relationships
and the Company's supervisory bodies (shareholders'
meetings, Directors’ Committee and Audit Committee,
among others). This code expresses the commitments and
ethical responsibilities in the management of business and
commercial activities, taken on by the Company and its
subsidiaries.
The Code of Ethics and the main documents that serve as a
framework for Enel Américas’ ethics culture are delivered to
employees, directors, suppliers, and contractors; in addition,
they are published internally on the website, so that all
stakeholders can easily access their contents.
The last amendment was made in 2021 and was approved by
the Board of Directors at its June 24 session, incorporating,
among other aspects, elements related to human rights.
After that, the new Code of Ethics adopted as key the
following words: trust, responsibility, and reciprocity 1.
The following are the expected behaviors regarding Enel
Américas mission, vision, and strategy:
• The Company's mission is to create and distribute
value in the international energy market, for the benefit
of customers’ needs, shareholders’ investment, the
competitiveness of the countries in which it operates and
the expectations of all those who work in the Company.
• Through its subsidiaries, Enel Américas operates at the
service of communities, committed to respecting the
environment and people’s safety, to creating a better
world for future generations.
• Enel Américas aspires to maintain and develop a
relationship of trust in the areas in which it carries out its
work, that is to say, with those categories of individuals,
groups, or institutions whose contribution is necessary to
carry out its mission or who have, in any way, an interest
in that mission or in achieving its objectives.
1. The general principles are inspired by the United Nations Universal Declaration of Human Rights of 1948 and the European Convention on Human Rights of 1950.
48
Integrated Annual Report Enel Américas 2021
SOLO PARA VER DISEÑO
• It is the parties involved who make investments linked to
the activities of Enel Américas , with shareholders first and
then employees, customers, suppliers, and partners. In a
broader sense, all those individuals or groups, in addition
to the organizations and institutions that represent
them, whose interests are influenced by the direct and
indirect effects of the Company's activities involved. This
includes local and national communities in which Enel
Américas operates, environmental associations and future
generations, among others.
• Unethical conduct compromises the relationship of
trust between Enel Américas and its stakeholders. The
behavior of any individual or organization, who tries to
appropriate the benefits of the collaboration of others,
taking advantage of positions of power are deemed
unethical and invite hostile attitudes towards the Company.
The Company strictly adheres to the Law on Corporations,
which within its criteria establishes the independence and
absence of conflicts of interest. The Board of Directors
has adopted the voluntary observance of NCG No.
385. At the same time, Internal Audit, reports the main
information on compliance with this standard to the Board
of Directors.
Enel Américas Policy No. 1124 aims to define the key
principles required to spread a culture that rejects
and does not tolerate any form of harassment in the
workplace. It also establishes the need to provide relevant
tools to deal with these unacceptable situations. This
policy applies to all Enel Américas Group’s employees
and to third parties who work with the Company’s
employees in all instances where it operates its business
(work center and any place where workers conduct
business on their behalf), such as business trips, lunches,
dinners, field visits, training, online communication and
telephone within working hours and work-related social
activities. Activities on and off the premises must always
be consistent with the values of the Enel Américas Group
and its commitment to diversity and inclusion.
The document corresponding to this subject at Enel
SpA, is entitled "Workplace Harassment Policy". This poli
is implemented and applied whenever possible within the
Enel Américas Group and in accordance with applicable
laws, regulations, and governance rules, including relevant
provisions and disaggregation, which, in any event, prevail
over the provisions contained in said document.
For Enel Américas , ethical actions and transparency in
commercial and labor relations are of vital importance.
That is why there is a constant concern to promote
integrity culture in all its workers both among their peers
and in the relationship with the organization. Policy No.
82 aims to regulate the reporting, analysis, and resolution
of current or potential situations of conflicts of interest
in accordance with the Code of Ethics, Zero Tolerance
Governance 49
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• The general principles on relations with those involved,
which define in an abstract way the reference values in
the activities of Enel Américas.
• The criteria of conduct related to each type of person
involved, which specifically provide the guidelines and
standards to which Enel Américas employees must adhere
to respect the general principles and to prevent the risk
of unethical behavior.
• The implementation mechanisms, which describe the
control system to comply with the Code of Ethics and
for its continuous improvement.
Principles of the Code of Ethics
− Impartiality.
− Honesty.
− Relations with shareholders.
− Correct conduct in case of possible conflicts of interest.
− Confidentiality.
− Protection of shareholder participations.
− Value of human resources.
− Equity of authority.
− Personal integrity.
− Transparency and integrity of information.
− Diligence and precision in tasks and contracts.
− Fair competition.
− Services and products quality.
− Responsibility towards the community.
− Correctness and equality in the management and
possible renegotiation of contracts.
− Environmental protection.
The principles and provisions of the Code of Ethics are
directed to the members of the Board of Directors, the
Directors’ Committee, and other Enel Américas’ supervisory
bodies and the other companies of the Group, as well as
the directors, employees and collaborators linked to it
by contractual relationships derived from any title, also
occasional or temporary.
In addition, Enel Américas requires all subsidiaries or
associates and all suppliers and partners to adopt behaviors
in accordance with the Code’s general principles.
Código Ético (español)
Code of Ethics (English)
with Corruption Plan, Enel Global Compliance Program,
Criminal Risk Prevention Model, the Internal Regulations
of Order, Hygiene and Safety and the legal provisions that
regulate the matter.
Therefore, all direct staff members linked by employment
contract with the Company, regardless of the position or
responsibility they occupy, must sign an annual conflicts
of interest declaration. It will report the existence or
not of conflicts of interest, considering, in addition,
the provisions that the Criminal Risk Prevention Model
contemplates for this purpose (Law No. 20393). This
document will also cover the management of conflicts
of interest of managers and operational contract
coordinators.
Legal Corporate Affairs (LCA) manages the declarations
of conflict of interest of directors and principal executives
registered (informed) to the CMF through another
procedure.
50
Integrated Annual Report Enel Américas 2021
Ethics Channel
Enel Américas has an ethics mailbox that allows people to report bad practices confidentially and anonymously. The
existence of an Ethics Channel has been duly disseminated within the Company and its operation is extended to employees,
contractors, suppliers, customers, communities and other interested parties.
Complaints: protection of whistleblowers
The Company promotes the principles and rules that
govern the correct and balanced functioning of its
governing bodies, guaranteeing effective, transparent, and
fair management, aimed at safeguarding the corporate
interest. The Ethics Channel is managed under this logic
and is governed by the Whistleblowing Global Policy No. 107,
which guarantees anonymity, protection of the whistleblower
against retaliation, as well as protection against complaints
of bad faith. This policy follows the guidelines of ISO
37002:2021, which provides the practices and procedures
for implementing, managing, evaluating, maintaining, and
improving a robust and effective whistleblowing system.
This whistleblowing guidelines are based on the principles
of trust, impartiality, and whistleblower protection.
The Ethics Channel is the responsibility of the Internal
Audit Management but is managed by an external
company (Navex). It allows to anonymously report irregular
conduct, contrary to the principles of the Criminal Risk
Prevention Model, the Code of Ethics or other matters
related to accounting, control, internal audit, and crimes
such as money laundering, financing of terrorism,
bribery, corruption between individuals, receiving
offences, misappropriation, incompatible negotiation
and environmental crimes, among others. The complaints
received are investigated by the Audit Management and
reported to the Directors’ Committee.
During the period, Enel Américas and its subsidiaries
received 75 complaints which led to 16 non-significant
infringements – all duly managed – of the Code of Ethics, in
matters of contract management and conflicts of interest.
Over the past five years, the Company has not had any
confirmed cases of corruption and bribery.
KPI
UM
2021
2020
Complaints received (1)
Breaches related to episodes
of:
Conflict of interest/corrup-
tion (2)
Misuse of assets
Work environment
Community and society
Other motivations (3)
Workplace and sexual haras-
sment
n.
n.
n.
n.
n.
n.
n.
n.
75
16
3
2
4
-
6
1
93
21
2
12
7
-
-
-
2019
110
25
4
7
11
-
3
-
2018
2017
2021-2020
93
13
3
6
3
-
1
-
68
21
3
12
5
-
1
-
(18)
(5)
1
(10)
(3)
-
6
1
%
-19%
-24%
50%
-83%
-43%
-
100%
100%
1) During 2021 there was a slight reduction in reports related to potential breaches of the Code of Ethics.
(2) Corruption consists of the abuse of power for the purpose of private gain and can be carried out by individuals in the public or private sector. It
is interpreted to include corrupt practices such as bribery, extortion, collusion, conflicts of interest and money laundering. Regarding the breaches,
sanctioning and disciplinary actions were taken against two employees of the subsidiaries of Enel Américas, in accordance with the internal regula-
tions of each company.
(3) Another motivation relates to controlling weaknesses in technical processes or contractor-related breaches
Governance 51
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Where to report offences in Enel Américas and subsidiaries?
Corporate Website
https: //www.enelAméricas .com/es/ inversionistas/a201609-canal-etico.html
Internet
Direct Ethics channel
https://secure.ethicspoint.eu/domain/ media/es/gui/102504/index.html
Face to face or in writing
Enel Américas
Internal Audit Management, Santa Rosa N°76, Piso 9, Santiago.
Analysis of complaints to the Ethics Channel
The Directors’ Committee analyzes the report presented
by the Audit Manager with all the complaints received
through the Ethics Channel and that were analyzed in
each period. The Committee provides guidance to follow
regarding the corrective measures to be implemented. It
is also up to the Chairman of the Committee to convene
an extraordinary session of this entity when a complaint so
warrants. During 2021, no extraordinary sessions related
to this matter were held.
Zero Tolerance with Corruption Plan
Enel Américas is a company committed to respecting its
Code of Ethics. That is why it requires its employees to be
honest, transparent, and fair in the performance of their tasks.
These commitments are translated into the following general
principles: Enel Américas rejects all forms of corruption,
both direct and indirect; and Enel Américas implements a
program to fight corruption called the "Zero Tolerance with
Corruption Plan" (Spanish acronym TCC Plan). The Company
adheres to the United Nations Global Pact and as part of its
commitment to its tenth principle, it has put in place the TCC
Plan to fight corruption, taking on the following commitments
in the performance of its activities:
• Bribes: The Company prohibits the use of any form of
illicit payment, by pecuniary or other means, to obtain any
advantage in relations with its stakeholders.
• Donations to political parties: the Company does
not finance political parties, their representatives,
or candidates, either in Chile or abroad; nor does it
sponsor any events whose exclusive purpose is political
propaganda.
• Donations to charities and sponsorship: Enel Américas
supports, through sponsoring activities and by formalizing
specific agreements, initiatives that can refer to social,
environmental, sports, art and entertainment and scientific
and technological dissemination issues with events that
offer quality assurance, of a national character or which
respond to specific territorial needs.
• Favorable deals: the Company does not authorize making,
offering or accenting direct or indirect payments or
benefits for any amount in order to expedite services due
by its interlocutors.
• Gifts, presents and favors: gifts are not allowed that
can be interpreted as something that exceeds normal
commercial or courtesy practices or, in any way, intended
to receive a favorable treatment in the performance of any
activity that may be linked to Enel Américas.
52
Integrated Annual Report Enel Américas 2021
Governance 53
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Criminal Risk Prevention Model
Enel Américas is fully committed to comply with ethics
standards and ethical conduct, as well as with the legislation
in force in each of the countries where it operates, both in
its internal and external relations with other stakeholders.
It has a Criminal Risk Prevention Model (Spanish acronym
MPRP), made up of a set of components that cover the
activities and behaviors of directors, managers and directors,
employees, suppliers, public officials, communities and
other counterparts with which the Company relates. It is
complemented by the guidelines and standards defined
in the Enel Global Compliance Program, Anti-Bribery
Management System (ISO 37001) and Compliance
Management System (ISO 37301).Sistema de Gestión de
Compliance (ISO 37301).
Senior Management
Commitment
Disciplinary
System
Legislative
Context
Continuous
Improvement
Control Environment
and Regulations
Ethics
Channel
MPRP
Risk
Assessment
Training and
Communication
Control
Activities
Monitoring
and evaluation
The monitoring of the CRPM is led by the Crime Prevention and Compliance Officer, who reports, at least quarterly, to
the Board of Directors, the effectiveness of the Crime Prevention Model, including any serious deficiencies that may
have been detected or any irregular situations that should be reported to the supervisory or other competent bodies.
54
Integrated Annual Report Enel Américas 2021
Control environment
Identification of Risk Areas
Monitoring of Effectiveness of Disciplinary System
Pillars of regulatory
system
Control activities
Surveillance
Response to risk
• Code of Ethics
• Identification of Risk
• Review and Supervision
• Disciplinary System
• Zero Tolerance with
Corruption Plan
• Gifts and Hospitality
Protocol
Areas
• Analysis of Weaknesses
• Improvement
• Implementation of
MPRP
and Points of
Improvement
identification and
implementation
• Preventive Controls
• Computer Flows and
• Enel Global Compliance
Program
• Dealing with Public
Officials protocol
• Update of the Control
Matrix identified in the
risk areas
• Continuous Monitoring
• Criminal Risk Prevention
• Risk Assessment
Model
• Internal Rules and
Regulations
Sample Testing
• Continuous Monitoring
1. Law No. 20393 establishes criminal liability of legal entities under private law and State enterprises for the following
Compliance Management System (ISO 37301).
crimes: domestic or foreign bribery; money laundering; financing of terrorism; reception of stolen goods; bribery between
individuals, misappropriation, unfair administration , incompatible negotiation, water pollution; commercialization of
prohibited products; illegal fishing of seabed resources; processing, storage or use of scarce resources.
the Criminal Risk Prevention Model, relying on the Crime
Prevention officer for its implementation. The latter has the
necessary organizational autonomy, authority, and resources
to correctly carry out his or her functions.
The MPRP is based on the Compliance System and its aim
is to control and prevent the commission of crimes in the
Company's operations, mitigate the risks related to the criminal
liability of the legal entity contemplated in Law No. 20393 and
the risks of administrative liability established in the "Enel
Global Compliance Program" , guaranteeing compliance with
regulations, transparency in all Enel Américas’ actions and
where it has a majority shareholding, exercises control or is
responsible for management. It also covers all the requirements
of the Crime Prevention Model defined in the Criminal Liability
of Legal entities Law No. 20393 1 and its amendments. Through
this model, the Company includes reputational risks and
compliance risks, although it already had controls in place to
mitigate them.
The Board of Directors is the entity in charge of supervising
compliance with ethics standards, the prevention of criminal
risks and compliance with the Company's Code of Ethics, a task
whose monitoring and management it delegates to the Internal
Audit Management. Thus, the Board of Directors approves the
documents that make up the compliance system, including
The Board of Directors meets with the Internal Audit area each
quarter to analyze the Annual Audit Plan, monitor the action
plans, examine the effectiveness of the Crime Prevention
Model implemented in accordance with the provisions of Law
No. 20393, in addition to other matters. This instance allows
to analyze possible deficiencies identified in the Company’s
Internal Control and Risk Management System; as well as
to review the implementation of the recommendations
and improvement plans to mitigate the risks inherent in the
processes and operations of Enel Américas.
During 2021, the Board of Directors, senior management
and the Company’s other areas completed the review and
adaptation of the Criminal Risk Prevention Model, considering
the amendments made to the law during 2020. This work was
coordinated by the person in charge of Crime Prevention,
achieving the update of specific risks and controls under
the scope of the Criminal Risk Prevention Model with all the
1. Law No. 20393 establishes the criminal liability of legal entities under private law and State enterprises for the following crimes: domestic or foreign bribery;
money laundering; financing of terrorism; reception; bribery between individuals, misappropriation, unfair administration, incompatible negotiation, water pollution;
marketing of prohibited products; illegal fishing of seabed resources; processing, storage or use of scarce resources.
Governance 55
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Company’s areas and processes, with the support of external
experts on the subject and the Legal area.
Certifications
Additionally, in the March and September 2021 sessions,
the Board of Directors met with the person in charge of
Crime Prevention to review the effectiveness of the Criminal
Risk Prevention Model. At the same time, in the months of
February, March, June, September and December, the Audit
Manager and Compliance Officer reported to the Board
of Directors in the sessions scheduled to report on all the
matters indicated above, in addition to the management
of the Ethics Channel, which was duly documented in the
relevant minutes.
Enel Américas has a certification that is external to the
Criminal Risk Prevention Model, recertified in 2021 for a
period of two years (maximum possible by law) until 2022.
The company that certified it (ICR Chile) is an external entity
authorized by the CMF, which objectively accredited and
evaluated the prevention system adopted and implemented
by Enel Américas as required by Law No. 20393.
This certification covers the crimes incorporated in Chile in
Law No. 20393 in 2018 and 2019, which includes corruption
between individuals, unfair management, incompatible
negotiation, misappropriation, illegal fishing, water pollution,
activities with products under the prohibition of extraction and
activities with scarce fishing resources without accreditation
of legal origin.
All Enel Américas subsidiaries maintain a compliance
program in line with the Company's practices, including
country-specific regulatory requirements. In those
companies that are not directly controlled, joint ventures,
related companies or suppliers and contractors, the
development of local regulations and policies that are
aligned with local legislation and company standards is
encouraged.
Enel Américas has led the implementation of voluntary
practices in favor of ethics and transparency in business
activities. It was the first multinational company in South
America to certify its Anti-Bribery Management System
under the ISO 37001 standard in 2018.
Furthermore, in relation to the tenth principle of the Global
Pact – under which companies commit to combating
corruption in all its forms, including extortion and bribery
– Enel Américas contributes to meeting this commitment
by applying and maintaining the pillars of the Anti-Bribery
Management System 1, in accordance with the ISO 37001
standard.
The standard specifies a number of measures and best
practices to help organizations prevent, detect, and address
bribery, along with fulfilling voluntary commitments. The
Company’s system focuses on identifying risks and
designing, implementing, and improving controls and
standards of behavior in operations considered risky, such
as negotiations and implementation of contracts with
third parties, participation in public and private tenders;
management of financial resources; management of
gifts and hospitality; personnel selection processes; and
management of incentive mechanisms, among others.
Subsidiary Certifications
As part of Enel Américas' commitment to implementing best
practices at an international level, during the years 2020 and
2021 the main subsidiaries of the group have been certified
under the ISO 37001: 2016 Anti-Bribery Management
System, their detail is as follows:
Argentina
Brazil
Colombia
Peru
Edesur, Enel Generación Costa-
nera, Central Dock Sud and Enel
Generación el Chocón.
Enel Brasil, Enel Green Power
Brasil, Enel Distribución Ceará, Enel
Distribuidora Rio de Janeiro, Enel
Distribuidora Goiás, Enel Distri-
buidora Sao Paulo, CIEN, Central
Generadora Fortaleza and Enel X.
Emgesa, Codensa, Enel Green
Power Colombia S.A.S. ESP.
Enel Generación Perú, Enele
Generación Piura, Chinango S.A.C. ,
Enel X Perú S.A.C., Enel Distribución
Perú and Enel Green Power Perú.
1. The Anti-Bribery Management System is part of Enel Américas' compliance program, in which the Board of Directors is its highest governing body, and which,
together with the Company's Senior Management, promotes the prevention of any type of bribery in daily activities and operations.
56
Integrated Annual Report Enel Américas 2021
Current legislation in the countries in which
Enel Américas operates
Argentina: Law on Criminal Liability for Legal entities No.
27401.
Brazil: Anti-Corruption Law No. 12846.
Colombia: Law No. 1778.
Peru: Legislative Decree No. 1352 of 2017.
The Company participates in external organizations
and work groups and takes part in various national and
international scenarios where it shares its experience in the
implementation of this relevant certification. These include
Chile Transparente, Fundación Generación Empresarial,
Alliance for Integrity, Instituto Ethos in Brazil, Secretaría
de Transparencia in Colombia, Cámara Alemana AHK and
Asociación Argentina de Ética y Compliance, among other
entities. The purpose is to share experiences and promote
best practices applied in the Company, in terms of probity,
organizational culture, as well as ethics and transparency
practices in business.
In 2021, one of the most important events was the Ethics
Week, an event organized and held completely virtually.
The event stressed the commitment of workers, managers,
suppliers, and directors to transparency and focused on
the relationship of compliance programs with Corporate
Governance and Sustainability. That week’s activities were
attended by external guests in Chile and in the region.
Governance 57
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Policies and procedures
Policies and procedures related to transparency, privacy and
information protection
Privacy Policy and Information Protection.
Market Information Management Manual.
Compliance Program with The Regulations of Free Competition.
Corporate Governance Guidelines.
General Policy of Habituality.
Risk Management Policy.
Investor Relations Policy.
Manual for the Management of Information of Interest to
the Market
The Company strictly adheres to the Law on Corporations,
which within its criteria establishes independence and
the absence of conflicts of interest. The Code of Ethics
states that it is necessary to avoid situations where the
subjects involved in a transaction are, or appear to be, in a
conflict of interest. This means both that an employee has
a different interest in relation to the Company’s mission and
the balance of the interests of those involved or personally
benefitting from business opportunities of the latter, as well
as the representatives of customers or suppliers, or public
institutions, act against the fiduciary obligations linked to
their position, in their relations with the Company.
Programa de Cumplimiento de la Normativa de Libre
Competencia
The Free Competition Manual provides information
and education on the program to all of the Company's
employees, so that they can detect, in a timely manner,
dangerous situations and as such prevent them from
happening. Along with the program and the manual, a
number of additional tools have been implemented that
have become an active prevention program aligned with
the Company’s trade policies. The Company also has a
Free Competition Manual; Consultations Channel on free
competition; Guide to Risks and Conduct, Self-Certification
Procedure of each Management department; Training
Program on Free Competition for the Company's workers;
Monitoring Program on compliance with a Self-Certification
Procedure; conduct procedure in case of dawn raids; and
Internal control regarding the figure of interlocking.
Corporate Governance Guidelines
The Good Governance Manual establishes a series of principles
on which Enel Américas Group’s Corporate Governance is based,
together with the guidelines on its implementation, in order to
apply it uniformly in all the companies that are part of it.
General Habituality Policy
It was approved by the Company’s Board of Directors in
accordance with the provisions of Article 147, letter b) of
Law No. 18046. It allows transactions with related parties
to be concluded, without the need to comply with the
requirements and procedures established in paragraphs 1
to 7 of article 147 of Law No. 18046.
Risk Management Policy
It is a set of decisions that the Company makes to establish
the acceptable limits of risk levels inherent in its activity.
Some of them include the normal performance of business
activity and the appropriate measures to adequately
manage, monitor and control of such risks
Investor Relations Policy
The Board of Directors has adopted the Investor Relations
Policy to guarantee that the Company's communication
with institutional investors and all of its shareholders
and bondholders is inspired by principles of fairness
and transparency. Additionally, the policy is required to
follow national regulations to prevent and avoid abuse
in the stock market, as well as it must be in line with
international best practices. It also considers the best
practices adopted by institutional investors, as reflected
in the Enel Group's codes and policies.
Policies in relation to the commitment to
human rights
Human Rights Policy.
Diversity and Inclusion Policy.
58
Integrated Annual Report Enel Américas 2021
Enel Américas Human Rights Policy
Human rights are inherent in all people; without
distinction, all people have the same rights, which are
interrelated, interdependent and indivisible. Universality
is seen as the cornerstone of human rights. In case
of detecting a possible breach of the commitments
adopted by Enel Américas, any stakeholder can report
it through the Ethics Channel. The Company urges all
its employees, contractors, suppliers, communities, and
business partners to adhere to this policy, which reflects
the United Nations Guiding Principles on Business and
Human Rights, to Protect, Respect and Remedy. This
relates to the State's duty to protect human rights that
may be violated by business practices and/or conduct,
including state ones; the responsibility of companies to
respect human rights, and, therefore, the obligation for
them to adopt a preventive approach in their activities,
avoiding those negative effects that may affect vulnerable
people and groups; and access to justice and remediation
mechanisms. Enel Américas has adopted the Human
Rights Policy defined by the Enel Group, which is based
on eight principles.
Principles of Human Rights Policy
The Company protects employees against acts of
psychological violence and opposes any discriminatory
or harmful attitude or behavior towards its people, their
convictions, and their preferences (for example, insults,
threats, isolation, or intrusion into privacy, as well as
professional limitations). Sexual harassment is not permitted
and behavior or speech that may harm personal sensibilities
should be avoided.
Diversity and Inclusion Policy
Enel Américas is committed to respecting and promoting
the principles of arbitrary non-discrimination, equal
opportunities, and inclusion, as they represent fundamental
values in the development of its activities. The Company
seeks to improve the work environment and make a better
quality of life at work possible, which would, in turn, lead to
improving its results. With this in mind, the Company put in
place a Diversity and Inclusion Policy that aims to define the
key principles required to disseminate a culture that pays
attention to diversity and adds value.
Other protocols
• Protocol of Action in dealing with Officials and Authorities.
• Protocol of Accepting and Offering Gifts, Presents and
Work practices
Favors.
• Reject forced or compulsory labor and child labor.
Communication and training
Respect for diversity and non-discrimination
• Freedom of association and collective negotiations.
• Health and safety.
• Fair and favorable working conditions.
Communities and societies:
• Environment
• Respect for the rights of communities
• Respect for the rights of local communities
• Respect for the rights of indigenous and tribal peoples
• Integrity - zero tolerance for corruption
• Privacy
• Communications
The Code of Ethics states that staff management policies are
available to all employees through business communication
tools (intranet of the business website, organizational
documents, and communication by those in charge). In
addition, internal and external stakeholders are made known
through specific communication activities 1, in order to
guarantee a correct understanding of all employees.
The Human Resources Management prepares and
implements an annual training plan aimed at conveying
awareness of the principles and standards, in accordance
with the instructions of the Audit Director. Training initiatives
differ according to employees’ role and responsibilities.
Governance 59
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes During the period, the Company and its subsidiaries
maintained in force and operating their communications
and training plans, aimed at disseminating the main aspects
of their compliance program and strengthening the culture
amongst employees and suppliers. These plans considered
internal and external activities, including inductions for the
Company's new arrivals who received specific training on
the Compliance System.
In October 2021, Enel Américas held its Ethics Week,
providing its employees with training on conflicts
of interest. The event was held in each country of
the region, with training spaces, communication
activities and specific sessions aimed at reinforcing
values, transparency, and the ISO 37001 Anti-Bribery
Management System. It was addressed to all employees,
managers, directors and suppliers.
The Company and its subsidiaries conducted training
sessions on the Criminal Risk Prevention Model, with the
participation of more than 7,250 employees. The sessions
focused on the prevention of corruption and unethical
conduct, the use of the Ethics Channel, the Anti-Bribery
Management System (ISO 37001) and, in general, on the
knowledge of the Company's Compliance System.
Part of the communications and training management focused
on strengthening the use of the Ethics Channel through
publications and training sessions, which showed the employees
its usefulness and the way of use it. Their knowledge was also
enhanced in events aimed at suppliers through reports and talks.
The communication and training program aims to
strengthen the ethical and compliance culture, where all
the elements of compliance are developed, including the
Code of Ethics. The training sessions include aspects of
sexual and workplace harassment.
Training in anti-corruption
policies and Code of Ethics
Country
Argentina
Brazil
Chile
Colombia
Peru
Central America
Total
2021
no.
520
4,128
42
1,612
895
53
7,250
Training hours
Scope (%)
1,062
6,717
212
3,199
989
107
12,286
13%
46%
86%
69%
81%
57%
44%
1. Among the activities are the delivery to all employees of a copy of the code, sections dedicated to the same topic on the Company's intranet and insertion of
an informative note about its adoption in all contracts, among others.
60
Integrated Annual Report Enel Américas 2021
Internal Control and Risk Management System
The Company has put in place an Internal Control and Risk Management System (ICRMS) that brings together the rules
and procedures that permit to identify, measure, manage and supervise the main corporate risks. Furthermore, it
contributes to guaranteeing the value of assets, the efficiency and effectiveness of business processes, the reliability
of financial reporting and compliance with laws and regulations, bylaws, nd internal procedures.
Therefore, the ICRMS plays a central role in the Company, enabling the adoption of decisions consistent with its risk
appetite, as well as the dissemination of a correct understanding of risks, laws and corporate values.
The system also guarantees the traceability of risk identification, evaluation, management and monitoring activities,
considering three different types of activities:
First level of control: It consists of all the control activities that the Company’s Operating Units carry out in their processes
to the correct implementation of operations.
Second level of control: They are assigned to specific corporate functions and aim to manage and monitor certain
types of risks.
Third level of control: Internal audit activities that aim to verify the structure and functioning of the internal control and
risk management system, including the monitoring of first and second level controls.
Governance 61
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Enel Américas' ICRMS follows the guidelines of Enel SpA's
Internal Control System, which is part of its Corporate
Governance Model. In particular, the system considers the
recommendations of the Corporate Governance Code
and is consistent with the Internal Controls - Integrated
Framework model, issued by the Committee of Sponsoring
Organizations of the Treadway Commission (COSO
Report), which is considered the internationally recognized
benchmark for the analysis and integrated evaluation of the
effectiveness of the ICRMS.
The Strategy and Risk Management chapter details how
climate change and cybersecurity risk management should
be addressed.
Objectives of the Internal Control and Risk
Management System
• It is consistent with best practices that allow employees (as
well as third parties in general) to report possible irregularities
or violations of applicable legal provisions and/or internal
procedures. These reporting procedures are characterized
by the existence of specific information channels aimed at
guaranteeing the anonymity of whistleblowers.
• Reveals anomalous situations that may constitute indicators
of inefficiency in risk measurement and control systems.
• It aims to guarantee that observed anomalies are quickly
brought to the attention of the appropriate levels of
corporate responsibility, so that appropriate corrective
measures can be effectively implemented.
Governance of the Internal Control System
The main objectives of the system are
Supervisory role of the Board of Directors
• Consider control actions at each operational level, clearly
identifying the functions and responsibilities, to avoid
duplication of tasks and guarantee coordination between
the main stakeholders in the ICRMS itself.
• Provide for the separation of roles and responsibilities to
prevent incompatible tasks from being concentrated under
common responsibilities; in particular, it guarantees the
necessary separation of operational and control activities,
in order to avoid or- if this is not possible - mitigate conflicts
of interest.
• It is integrated, providing for the dissemination of a common
language, the adoption of complementary methods and
instruments for the measurement and evaluation of risks,
as well as the flows of information between the different
functions in relation to the results of the tasks entrusted
to them.
• It seeks to guarantee reliable and adequate information
systems for information processes at the different levels to
which control functions are entrusted.
• It seeks to guarantee the traceability of the tasks of
identification, evaluation, management, and monitoring
of risks, guaranteeing over time the reconstruction of the
sources and elements of information that support these
tasks.
Supporting the Company's purpose, vision, strategy and
long-term sustainability, the Board monitors and controls,
among other aspects, ethical corporate culture; the
existence of robust supervision of the internal control and
risk management systems.
Internal Audit
The Internal Audit Management is responsible for objectively
and independently guaranteeing the efficiency and
effectiveness of the Internal Control and Risk Management
System.
Due to its nature, it reports directly to the Board of Directors
and at least once per quarter meets with this entity to report
on control activities and their results. This includes any
serious deficiencies that have been detected or possible
irregular situations that must be reported to the supervisory
or other competent bodies or that affect the judicial
situation of the Company.
This management carries out audit processes to periodically
evaluate – from the Risk Based perspective – the
performance of the Company's operations, establishing
areas for improvement and facilitating – together with the
Process Owners – action plans to strengthen the Internal
Control System, minimize the incidence of irregularities or
possible fraud that may affect the Company.
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Integrated Annual Report Enel Américas 2021
The results of each audit and the follow-up of the
implementation of the action plans are periodically reported
to the Board of Directors, which directly supervises the
correct implementation of the improvement actions. In
2021, the Audit Manager and Compliance Officer had access
to the Board of Directors in the January, February, March,
June, September, and December sessions to report on all
the matters indicated above, in addition to the management
of the Ethics Channel.
This work methodology is also applied in the Company's
subsidiaries, considering the local particularities in terms
of applicable regulations and the context of each country
where it operates.
Internal control system
of financial information
Transparency requirements in the preparation of financial
information require that the internal control system on
financial reporting has the highest levels of quality in its
design, implementation and monitoring by the Company's
management and Board of Directors. That is why Enel
Américas has developed an internal control system on
financial reporting (SCIIF), which aims to guarantee that
business activities based on this issue allow mitigating
the risks related to the observation and strict application
of all procedures and standards in force in accordance
with the COSO methodology (Committee of Sponsoring
Organizations of the Treadway Commission).
The SCIIF complies with all the requirements for periodic
monitoring of the Sarbanes Oxley Act, including the semi-
annual certification of these controls by External Audit and
defining in conjunction with the Process Owners and Control
Owners the remediation actions to mitigate the control
deficiencies indicated by the independent external auditors
and continuously improving the processes, as well as
monitoring the implementation of these and communicating
their status to the Board of Directors.
Governance 63
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Risk Management
Enel Américas’ strategy
Enel Americas is transforming from a utility company
model to one based on a platform that focuses on
customers’ needs.
Integrating sustainability into
the business model
Enel Americas integrates its shareholders’ expectations
into the Company's purpose. That is why each year it
carries out a process in which material issues related to
economic, environmental, and social issues are identified
and defined, forming part of the strategic priorities..
Risk management
Enel Americas considers risk management as one of the
main tools to define business sustainability, along the
entire value chain and all lines of business. Understanding
economic, environmental, and social contexts is essential
to be able to identify the external or internal factors that
can become potential business risks..
64
Integrated Annual Report Enel Américas 2021
Strategy and Risk Management 65
Strategy and Risk Management
Environment and Industrial Sector
Clean energy provided by the electricity mix and the
expansion of end-use electrification represent a central
pillar of the energy transition strategies. This is of utmost
importance in the structural transformation of the sector
in all scenarios and it also supports the United Nations
Sustainable Development Goals (SDGs) that relate to energy,
especially to the access to electricity.
The increase in clean energy and the electrification of the
global economy both play a fundamental role in meeting
the goals set in the 2015 Paris Agreement and avoiding
the human and economic consequences of an increase
in temperatures above 1.5 degrees Celsius (ºC). As part of
the commitment, Enel Américas continues to integrate
sustainable management that lies at the heart of its strategy.
The Company firmly believes that development and growth
that are not committed to caring for the environment –
including mitigating the effects of climate change – no
longer have a place in today's world, because global warming
is severely affecting the planet. It is, therefore, committed
to collaborating as actively as possible with the global goal
of reducing CO2 emissions to zero by 2050.
Global emissions 1
(Gton CO2)
2010 → 32.3
2020 → 34.2
2030 → 21.1
2050
Global
Net Zero
REN objectives
by country
@20302
NDC emissions
@2030
(mn tons)
Carbon
neutrality by
2050
35%
45%
70%
15%
100%
80%
30%
359.0
45%
reduction vs 2005
169.4
208.8
9.11
53.853
10.04
Argentina
Brazil
Colombia
Peru
Costa Rica
Guatemala
Panama
1. Source: IEA (2021) Net-Zero by 2050.
2. The renewable definition may differ by country; some consider large hydroelectric plants within the number
3. As of 2027
4. As of 2050
66
Integrated Annual Report Enel Américas 2021
It is clear that electrification needs to be accelerated and
massified. Different scenarios for this already exist and are
used to help decision makers to define a path that leads
to reaching global goals. But to achieve these ambitious
goals, it is necessary to electrify final consumption more, a
process that must be supported by a massive production of
renewable energy. Therefore, it is necessary to move forward
on two fronts: by increasing the level of electrification and by
incrementing the generation of energy through renewable
technology sources.
According to the World Energy Outlook 2021 report,
prepared by the International Energy Agency (IEA), to achieve
the goal of limiting the temperature increase by 1.5 ºC by
2050, it is necessary to achieve a global electrification level
of at least 50% and, in addition, that 90% of the energy
should be generated from renewable sources.
It is estimated that electricity consumption in Latin America
will double by 2050, while renewable energies will represent
94% of total generation. This will lead to electrification level
of 37%, which will require intensifying all efforts to achieve
the aforementioned goal.
Panorama in Latin America
+2.1x
Final electricity
consumption
(TWh)
2,162
68
1,027
26pp
Percentage of
electricity generation
from renewable
sources in respect
of total
94
2020
2050
2020
2050
Source IEA WEO 2021, Sustainable Development Scenario (SDS)
All scenarios aligned with the ambitions of the Paris Agreement
consider that electricity will be consolidated as the most efficient
energy vector and a fundamental engine for decarbonization:
37%
Rate of
electrification
2050
19% 2020
485MtCO2
CO2
Emissions
1,093 MtCO2
2020
For the region to benefit adequately from the energy transition,
it is necessary to:
• Understand barriers to electrification and proactively address
concerns of markets with customized solutions.
• Resilience of support networks.
• Accelerate the development of digital ecosystems.
The road towards the electrification of consumption in different economies will require certain conditions to be respected,
a process in which end customers must become active participants. Since they are the ones who will have to guide this
transition, energy must be accessible and provide reliably increasing the resilience of the grid thanks to digitalization and,
finally, companies will have to deliver a portfolio of high quality services to meet the new demands. It must be clear that the
next ten years will be the decade of electrification and that the decade of renewable energies is currently ending. In the latter,
the main discovery has been that renewables are profitable, simpler, and easier to handle.
Strategy and Risk Management 67
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An attractive opportunity for diversified investment in the region
Generation
Installed
Capacity
(MW)
Energy
sold
(TWh)
Market
share
Distribution
End
users
(mn)
Energy
sold
(TWh)
Market
share
Contribution
EBITDA
Argentina
Brazil
Colombia
Peru
Central America
4,419
4,978
3,589
2,294
646
13.1
26.4
17.7
11.4
2.,6
10%
5%
25%
21%
-
2.5
18.4
3.7
1.5
n/a
16.7
80.4
14.6
8,1
n/a
15%
16%
20%
27%
n/a
4%
47%
33%
13%
3%
68
Integrated Annual Report Enel Américas 2021
Enel Américas’ Strategy
Enel Américas’ strategic actions
The Company plays an important role in reaching the goal of zero emissions by 2050. This is why the 2022-2024 Strategy
not only aims to achieve operational and financial growth, but also to implement measures to combat the effects of climate
change. This is how the Company established very clear value creation goals, so that in strategic actions it can allocate
capital to support electrification and decarbonization. This involves transforming generation capacity and digitizing grids
to increase renewable energy and, ultimately, deliver clean high quality energy to customers in reliable way. The Company
has put in place a robust integrated position throughout the value chain, in which renewable energy generation represents
the best option to sell energy to customers in the future. Therefore, it is better positioned to provide greater value not only
as a project at the individual level, but, throughout the entire production chain, offering customers the benefits of such
an integrated position.
Enel Américas' Strategy is based on three main pillars:
• Developing new renewable capacity to reach decarbonization.
• Maximizing customer value through electrification.
• Creating value for the whole society through energy transition, supported by electrification and
digitalization.
Developing new renewable capacity to reach
decarbonization
The first pillar of the 2022-2024 Strategy is the growth of
electricity generation capacity through developing new
energy projects from renewable sources. This will allow to
change the energy matrix and move from polluting thermal
energy to clean energies. This way, progress will be made
gradually to eliminate coal-generated energy from the
portfolio no later than in 2027 and leave aside gas-generated
energy by 2040.
Thanks to these measures, Enel Américas
will achieve its commitment to be a zero-
emissions company by 2040.
The Strategic Plan for the 2022–2024 period aims to
incorporate 3.5GW of new renewable capacity. At the same
time, 0.5GW of thermoelectric capacity will be retired to reach a
total capacity of 19GW in
2024, of which 14.5GW -
equivalent to 76% - will be
from renewable sources.
For more details, see the
Business chapter of the
Enel Américas Group.
19GW
in 2024
Strategy and Risk Management 69
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Installed capacity 2021E (GW)
Installed capacity 2024 (GW)
69%
renewables
1%
13%
17%
25%
44%
76%
renewables
1%
10%
13%
39%
37%
vs 2021
+3.5 GW renewables
(0.5) GW thermal
Coal
Oil-Gas
CCGT
Wind and solar
Hydro
To achieve this, the Company will invest approximately US$3.4 billion during said period, focusing mainly on Brazil and Colombia.
The new capacity will be composed of 62% wind energy and 38% solar energy. Of the 3.5GW expected to be reached in the
aforementioned period, 2.7GW are already under construction. Most of this new capacity corresponds to wind projects and will
come into operation between 2022 and 2023. For more details, see the Business chapter of the Enel Américas Group.
Projects under development
Projects under development
Tecnology
49%
38%
12%
1%
2.7 GW
Brazil
Colombia
Peru
Central America
64%
36%
2.7GW
Wind
Solar
New projects under development
Brazil
Colombia
Peru
Panama
Aroeira
348 MW
Guayepo
491 MW
Rubi II (Clemesi)
123 MW
Baco Solar
30 MW
Lagoa dos Ventos III 396 MW
La Loma
187 MW
Wayra II
165 MW
Madre vieja
31 MW
Lagoa dos Ventos V 399 MW
Windpeshi
205 MW
Pedra Pintada
194 MW
Fundación
132 MW
70
Integrated Annual Report Enel Américas 2021
In addition to the 3.5GW, there is a long-term pipeline of approximately 56GW, in various stages of development. For more details,
see the Business chapter of Enel Américas Group.
Gross Pipeline (GW)
Gross Pipeline (GW)1
Gross Pipeline by country
Gross Pipeline by technology
~56
~32
~24
Brazil
Colombia
Peru
Central America
Gross
Pipeline
Early
stage
Mature
stage
(1) As of31 octubre 2021.
66%
17%
16%
1%
56 GW
28%
72%
56 GW
Wind
Solar
The strong growth that the Company foresees in new renewable energy plants will be key to achieving the aforementioned
objectives. This is expected to pave the way towards the transformation of the electricity sector in the region.
Strategy and Risk Management 71
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Maximizing customer value t hrough
electrification
Electrification, together with digital transformation, will
form the foundations of the road to electrification and will
allow Enel Américas to create value for all its stakeholders.
Electrification will be driven by the network's own
customers who will take a crucial and progressively more
active role in future development. One of the strategy’s
focal points will involve improving service quality, with
special interest in network security and resilience,
digitizing them to improve service levels.
This will involve establishing new forms of engagement
with customers, to maintain a constant, fluent, and
dynamic communication with them through various
communication channels: traditional and / or digital, with
special focus on mobile applications, new functionalities,
new payment channels and back-office automation to
improve customer satisfaction, with special attention to
complaints. All this will allow Enel Américas to maintain
its leadership in the industry.
To achieve the aforementioned objectives, the Company has
put in place an infrastructure and networks investment plan
for the 2022-2024 period totaling approximately US$4.9
billion, which will be allocated to Brazil and Colombia.
The customer base and distributed energy will also continue
to grow organically at the perimeter, increasing by 6% and
9%, respectively, with the expectation of reaching more than
27.7 million customers by the end of 2024.
These efforts will allow the Company to continue to invest
in networks resilience, flexibility, and quality, which will be
reflected in improvements in the SAIFI and SAIDI quality
indicators. Regarding the first, the indicator is expected
to decrease from 4.7 times in 2021 to 4.5 times in 2024,
while the SAIDI indicator will fall from 9.8 hours in 2021 to
8.6 hours by 2024.
Networks CAPEX 2022-24
63%
18%
10%
9%
US$
4.9 bn
Brazil
Colombia
Peru
Argentina
Grid Customers
+6%
Network
clients
(mn)
+9%
Energy
distributed
(TWh)
26.2
27.7
130.1
119.8
2021
2024
2021
2024
billion by 2024, an increase that will take the Company to
a RAB level per customer (RAB/Customer) that will exceed
US$500 in that year.
The investment plan will also contribute to a growth
in the regulated asset base (RAB), given that during
the 2022-2024 period the Group's distributors will be
subject to tariff revisions, so it will be a strategic period
for investments. It is estimated to reach a RAB of US$14.6
The same effect will be observed in the energy loss level,
an item that will most likely see a 2% decrease by 2024,
in conjunction with an approximate 4% reduction in the
operating result per customer in the same year due to the
efforts of digitalization and modernization of the network.
72
Integrated Annual Report Enel Américas 2021
Energy Losses and Expenditure per Customer
-2 p.p.
Total energy
loss
13%
11%
-19%
OPEXCustomers
on the network
US$/network customer
34
27
2021
2024
2021
2024
During the 2022-2024 period, the Company is expected
to invest around US$300 million and reach a total of
1.4 million smart meters installed in the concession
area of Enel Distribución Sao Paulo. However, the total
investment will reach US$1.0 billion, in a longer period
than the indicated plan. This project will allow savings
in operating costs, improvement in technical and
commercial processes, greater customer satisfaction and
greater efficiency in collection processes, among others.
Enel Américas is convinced that – within the framework of
the project in Brazil – the smart meter is a strategic enabler to
achieve energy transition, which benefits everyone, bringing
efficiency and flexibility to the Brazilian electricity sector.
Smart Meters Enel Distribución Sao Paulo
>100%
Deployment
of Smart meters
(th)
1,385
751
35
2021
75
2022
2023
2024
Scope Overview
~0.3bn
Total
investment
2022-24
(US$)
Distribution
Customer
Society
Industry
Smart Meters are enablers
for the Energy Transition,
bringing relevant benefits
to our society and
economy.
Supports the
modernization of the
Brazilian electricity sector
Strategy and Risk Management 73
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X business line, which aims to offer a portfolio of integrated
services, with a vision beyond the unique value of the
commodity. That said, in the 2022-24 period the Company
is expected to invest around US$230 million through this
line, with a main focus in Brazil, Peru and Colombia.
Enel X CAPEX 2022-24
18%
37%
44%
1%
US$
0.23 bn
Brazil
Colombia
Peru
Argentina
Principal KPIs
2021
2024
Lighting point
(mn#)
Charging point
(Public and private)
(th#)
0.8
3.3
1.2
10.3
2021
2024
22
309
422
2.120
Response to demand
(MW)
Maintenance
and repair services
(th#)
e-Buses
(th#)
0.9
3.2
Credit card
(th#)
902
1.142
Source IEA (2021) Net-Zero by 2050
PV
(MWp instalado)
30
88
Enel X seeks to promote mobility, in a context in which the latest estimate of the International Energy Agency indicates that
electrification in public transport in Latin America will reach 21% by 2050. To do this, two agreements were signed in Colombia
and Brazil in 2021.
Together with the Colombian government, an agreement was reached to add around 400 buses in Bogotá and build two new
electro-terminals. In Brazil, together with the municipality of Rio de Janeiro, the operation of electric buses began through a
joint venture.
These milestones are the beginning of public electromobility in the countries in which the Company operates, becoming a
clear example of the Enel Group's commitment to electrification.
74
Integrated Annual Report Enel Américas 2021
Creating value for t he whole society
through energy transition, supported by
electrification and digitalization
• 39% will go towards SDG 7 on affordable clean energy,
supported by the growth of renewables that will add
approximately 3.5GW of capacity by the end of 2024.
The Company's sustainable and integrated business model
gives it the confidence to achieve its goals. The Company
expects to achieve Earnings per Share (EPS) of between
US$0.012 and US$0.015 by 2024, representing an increase
above and beyond the US$0.01 in 2021.
The business is also committed to the UN SDGs, with specific
contributions to SDGs 7, 9 and 11, also contributing to SDG
13, on climate action.
In line with this, 97% of
the cumulative CAPEX
plan will contribute
d i r e c t l y t o t h e
aforementioned SDGs.
97% CAPEX (*)
Contributes to SDG:
7,9,11 and 13
(*) Cumulative CAPEX
• 55% will be spent on SDG 9 on Industry, Innovation,
and Infrastructure, improving the resilience, reliability,
digitalization, efficiency, and flexibility of networks.
3% will go towards SDG 11 on Sustainable Cities and
Communities, based mainly on the electrification of services,
such as, for example, public and private charging points for
electromobility.
Strategy and Risk Management 75
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Investment Plan estimates
In line with the strategy, the plan contemplates CAPEX
investments of US$8.9 billion for the period. Investments
are focused on securing margins, further developing
renewable capacity, and continuously improving the
quality of distribution networks. The Company expects
to increase the renewable installed capacity by 3.5GW by
2024, improve quality indicators such as SAIDI and SAIFI
and continue with the implementation of smart meters
in the Sao Paulo, Brazil distributor.
Enel Américas' investment plan is being developed considering
the Company's financial situation and projected financial
market conditions, seeking flexibility to adapt to uncertainty
and prioritizing projects in accordance with their expected
profitability and alignment with strategic objectives. The
financial strategy for the period contemplates changing the
dividend policy from 50% to 30%, in line with the sustainable
finance policy for the development of the investment plan.
The attached table presents CAPEX for 2021 and 2020, along
with what is expected for the 2022-2024 period.
(US$ billion)
CAPEX
2022-2024
8.9
2021
3.0
2020
1.4
Strategy in figures
8.9(US$ bn)
CAPEX accumulated
2022-24
2021E
2024
EBITDA
(US$ bn)
Group net income
(US$ bn)
4.1
0.7
4.9-5.4
+26-32
1.2-1.6
+62-116
Net debt
(US$ bn)
5.9
9.1-10.4
Taking into consideration that the Strategic Plan is exposed
to the exchange rate volatility of the countries where the
Company operates, the results and variations are expressed
as a range.
The estimate is that EBITDA in 2024 will fall within a range
of US$4.9 billion to US$5.4 billion, a 26% to 37% increase
as compared to 2021, driven mainly by improved results
from the renewable generation and distribution businesses.
Net Income will increase between 62% and 116% in 2024 as
compared to 2021, reaching the range of US$1.2 billion to
US$1.6 billion. This will be primarily due to improvements
in consolidated EBITDA and lower tax expenses, offset
by higher depreciation expenses, finance expenses and
minority interests.
Regarding Net Debt, it is expected to reach the range of
US$9.1 billion to US$10.4 billion in 2024. The increase is
mainly due to new investments for the development of
renewable capacity and the end of the sponsorship of Enel
Sao Paulo's pension fund.
CAPEX will reach $8.9 billion, spread over similar parts
over the three-year period. The increase compared to
previous years is due to the development of new renewable
projects to achieve the objectives of energy transition and
decarbonization.
More information on the 2022-2024 Strategic Plan
can be found on the corporate website: https://www.
enelAméricas .com/es/inversionistas/a201811-strategic-
plan.html
76
Integrated Annual Report Enel Américas 2021
Integrating sustainability into the business model
Sustainability plan and its contribution to the Sustainable Development Goals
The analysis of the context, the mega trends and the
expectations of the stakeholders raised in the materiality
process represent the starting points for the definition of
the Enel Americas Sustainability Plan.
Annually, these objectives are updated and new goals
are also defined, according to a process of continuous
alignment with the strategic lines and results achieved, to
increasingly integrate sustainability along the entire value
chain, considering the potential impacts on the economy,
the environment, and people.
The 2022-2024 Sustainability Plan is divided into 6 macro
interconnected subjects, representing the strategic lines
of action: Net-Zero Ambition: Advancing the "Net-Zero"
objectives by 2040
1. Electrification: Enable the electrification of customers '
energy demand, offering a reliable and sustainable service.
2. People: Create long-term value with and for all our
stakeholders, helping them grow and meet challenges.
3. Nature: Promote the protection of natural capital and
biodiversity.
4. Growth accelerators: accelerate sustainable progress
through innovation, digitalization, and circular economy.
5. ESG Foundations: Support for good governance, respect
for and promotion of human rights, continuous improvement
of health and safety objectives.
Strategy and Risk Management 77
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Long-term Sustainable Value Creation
NET-ZERO AMBITION
NATURE
PEOPLE
ELECTRIFICATION
G
R
O
WTH ACCE L E R A T
S
R
O
PEOPLE:
Enel people
Local and global community
Suppliers
NATURE:
Environmental sustainability
GROWTH ACCELERATORS :
Innovation
Digitalization
Circular economy
FUNDAMENTAL:
Health and safety
Strong governance
Human rights
FUNDAMENTALS
78
Integrated Annual Report Enel Américas 2021
Net Zero Ambition includes actions of the business model aligned with the objective of not exceeding
the temperature increase of 1.5 degrees Celsius with respect to pre-industrial levels. For this ambitious
objective, the Company will not offset emissions, based on the decarbonization process of the generation
matrix, gradually replacing the thermoelectric portfolio with new renewable capacity, as well as taking
advantage of the hybridization of renewables with storage solutions.
Electrification, the Company has increased and expanded the commitment linked to the electrification
of uses, which sees people and their daily choices as active change protagonists. The strategic actions,
supported by a unified platform capable of managing the customer base, will lead to the creation of value for
customers by 2030, through a reduction in energy expenditure and their carbon footprint. A commitment
that translates into a significant and tangible improvement in the quality of life for all.
People, represents the commitment to people’s empowerment and the improvement of their skills and
abilities to carry out the actions required for energy transition. The sustainable quality of the relationships
that the Company establishes with stakeholders is at the heart of the commitment, whether they are
workers, suppliers, members of communities, customers. Responding to the needs of stakeholders also
translates into attention to those who are most exposed in this transition phase, with special attention to
their requalification and reconversion to achieve a more resilient ecosystem, in a diverse and inclusive
environment.
Nature, the challenge posed by climate change is the strongest obstacle for people. The protection of the
environment and natural resources, the battle against climate change and the contribution to sustainable
economic development are strategic factors in planning, operating and implementing Enel Américas's
activities. Along with actions towards decarbonization, environmental sustainability translates into a daily
commitment to the conservation and preservation of nature and biodiversity through the reduction and
mitigation of the potential negative effects on the planet that may arise from Enel Chile's various activities.
Growth accelerators are fundamental tools to increase and expand the range of action to achieve the
Company's objectives, covering and reinforcing all issues present in the sustainability strategy. Innovation
facilitates the integration of sustainability in all aspects of the business, playing a central role that permits
us to respond to stakeholders’ requirements, expanding the scope of the impacts of our strategy. Another
issue closely related to the business model challenges is circular economy, another accelerator that aims
both to reduce the consumption of materials along the entire value chain, as well as the development of
circular business models and new solutions such as exchange platforms. Another key element to fortify
the strategy is cybersecurity, the basis of the digital transformation necessary to increase resilience and
digital media, that is, platforms and tools that make the daily activities of those who work in the company
more sustainable.
ESG Foundations, at the heart of the Company's strategy to contribute to sustainable progress, committed
to respecting human rights along the entire value chain, of which a key principle and an additional basis of
the plan is health and safety at work. Sound governance is the basis of sustainable success as it cannot
be separated from a corporate governance structure that considers ESG aspects in the main corporate
decision-making processes.
Strategy and Risk Management 79
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Commitment to the Sustainable Development Goals
In 2015, the United Nations adopted the Global Agenda
on Sustainable Development and the related Sustainable
Development Goals to be met by 2030.
Through its sustainable business model, the Company is
committed to the following six SDGs, with SDG 13 "Climate
Action" at its core:
Enel Américas has committed to contributing specifically to
six of the 17 SDGs, without excluding the Company's input
to achieving the other goals. In fact, the commitment to
the SDGs was the result of the definition of the sustainable
business model, framing the strategic plan aimed at an
energy transition that allows incorporating the goals of the
SDGs in the investments of the business lines.
Priority SDGs
− Quality education (SDG 4).
− Affordable and clean energy (SDG 7).
− Decent work and economic growth (SDG 8).
− Industry, innovation, and infrastructure (SDG 9).
− Sustainable cities and communities (SDG 11).
− Climate action (SDG 13).
The SDGs to which Enel Américas is committed to are:
Goal
Commitment
SDG 4: Guarantee inclusive, equitable and quality
education and promote lifelong learning oppor-
tunities for all
Enel Américas is committed every day to promoting economic and social development in
the communities where it operates. In addition to providing access to clean energy where
it is needed most, it has invested in promoting quality education (SDG 4), decent work and
economic growth (SDG 8).
Part of the initiatives that contribute to the development and social and economic growth
of the regions where the Company is present, include the expansion of infrastructures,
instruction and training programs, and projects that contribute to cultural and economic
life, among others.
SDG 8: Promote inclusive and sustainable
economic growth, employment, and decent
work for all
SDG 7: Guarantee access to affordable, safe,
sustainable, and modern energy
OSDG 9: Build resilient infrastructure, promote
sustainable industrialization, and foster
innovation
SDG 11: Sustainable cities and communities
SDG 13: Climate action
Several years ago, the Enel Group decided to invest in building plants using 100% renewable
technology, aiming at affordable, safe, sustainable, and modern energy (SDG 7). In this
process, Enel Américas continues with its growth plan, adding 3.5 GW of renewable energy
by 2024.
To make it possible for the renewable electricity to reach customers' homes, the Enel Group
needs a solid, digitalized, and resilient infrastructure. In accordance with this principle, and
in line with SDG 9, the Company focuses its investments on the network digitalization and
service quality.
The phenomenon of urbanization challenges the electricity industry to contribute to the
sustainability of cities, allowing citizens to opt for different services that generate less
pollution, in addition to being inclusive and affordable. In line with SDG 11, Enel Américas has
invested in new services aimed at electrification and digitalization.
To comply with SDGs 7, 9 and 11, the Company must take measures that aim at the targets of
SDG 13, "Climate Action", among which one of the most important is the reduction of direct
emissions and the reduction of the carbon footprint of the Group's customers.
Decarbonization and energy transition are part of the strategic pillars of the Enel Group, which
foresees a 66% reduction in CO2 emissions by 2024 compared to 2017 emissions, achieving a
specific emission of 140 grams of CO2 per kWh to reach Net Zero in 2040.
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Integrated Annual Report Enel Américas 2021
Enel Américas’ principal ratings and indices
Rating agencies evaluate environmental, social and
governance performance through different methodologies,
analyzes and ESG (or ESG). Therefore, these measurements
are considered a strategic tool for investors to identify risks
and opportunities related to sustainability, contributing to the
development of active and passive sustainable investment
strategies. Similarly, for Enel Américas, these evaluations are
a way of prioritizing and having feedback on the Company’s
performance in its continuous improvement process.
In 2021, the Company consolidated its ESG ratings and
indices, strengthening its leadership position as a result of
its sustainable business strategy.
S&P Dow Jones Index (DJSI)
In 2021, Enel Américas was included in the three categories
in which it participates: Emerging Markets, Integrated Market
of the Pacific Alliance (Spanish acronym MILA) and Chile.
The Company obtained 85 points, which places it among
the best companies worldwide that managed to achieve
scores higher than 90 out of a maximum of 100 in more
than 63% of the criteria, standing out with maximum score
in areas such as Materiality, Risk and Crisis Management,
Innovation Management, Environmental Reporting, Water
Risk, Social Reporting, Human capital development and
corporate citizenship and philanthropy.
Sustainability Yearbook 2021
For the third consecutive year, the Company was confirmed
in The Sustainability Yearbook 2021 and was again
distinguished within the Bronze Class for its excellent
performance, ranking between 5% and 10% of the most
sustainable companies in its industry worldwide.
CDP
Enel Américas was awarded a B evaluation by the CDP
(Carbon Disclosure Project), in its first ever participation
in this initiative of voluntary reporting of actions aimed
at facing climate change. CDP is a recognized non-profit
organization that evaluates performance in the combat
against climate change on a scale of A to D through its
disclosure framework. Its annual environmental disclosure
and rating process is widely recognized as the gold standard
of corporate environmental transparency. In 2021, more
than 590 investors with more than US$110 trillion in assets
and more than 200 major buyers with US$5.5 trillion in
acquisition expenses requested that companies disclose
data on environmental impacts, risks, and opportunities
through CDP's platform.
MSCI ESG Indices
Since 2019, Enel Américas has received the AA classification
as part of the various sustainability stock indices offered by
this entity. MSCI's ESG assessments aim to measure the
long-term financial resilience of companies to material ESG
risks.
FTSE4Good
Enel Américas was again included in this ranking in the
Emerging Markets and Latin America categories, with
4.2 points out of a maximum score of 5. The FTSE4Good
series of indices is designed to measure the performance
of companies that prove strong environmental, social and
governance practices.
Moody’s ESG Solutions
For the fourth consecutive year, Enel Américas was
included in Moody's ESG Solutions' (formerly Vigeo-Eiris)
Best Emerging Markets Performers ranking in the utilities
sector, which considers the best-performing companies
in emerging markets with a "best-in-class" approach. In
the evaluation update to May 2021, the Company scored
56 points.
Refinitiv
Enel Américas achieved 84 points in December 2021, ranking
among the seven best evaluated companies in the electricity
sector.
Refinitiv's Ranking of 100 Most Diverse and Inclusive
Companies
For the first time, the Company was included in this index
that globally evaluates more than 11,000 publicly traded
companies, measured in 24 metrics in four key pillars.
Corporate Knights
Enel Américas was included in the Carbon Clean 200™
Ranking for the period, an index which considers the 200
largest companies worldwide according to their revenues
from clean sources. Enel Américas ranked first in the
generation, transmission, and distribution industries.
Strategy and Risk Management 81
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Stakeholders and materiality
It is extremely important for Enel Américas to know, integrate and align the expectations of its stakeholders with the Company's
purpose. That is why together with its subsidiaries, the Company carries out an annual process through which it identifies
and defines the material issues related to economic, ethical, environmental, and social issues, forming part of the strategic
priorities. The results guide the strategic planning of the business, contribute to the effective management of stakeholders
and are the basis for building the main guidelines for preparing the content of the Sustainability Report, the Integrated Annual
Report, and the design of Enel Américas' sustainability plans.
Stakeholders
The Company's commitment is to maintain a continuous
and close dialogue with its stakeholders to create areas of
collaboration, development, and trust, thus constructing a
cornerstone of its strategy. Through this approach, we seek
to identify the drivers that allow us to make sustainable,
competitive, and safe energy models, as well as to develop
innovative, exhaustive, and pioneering perspectives to
anticipate events, manage risks and seek differentiation. In
short, Enel Américas believes that management and dialogue
with stakeholders contributes to:
• Improving the management of risks and opportunities.
• Identifying trends and relevant issues early on.
• Enhancing credibility and trust, allowing the creation
of synergies.
• Promoting decision-making processes.
• Emergence of opportunities for improvement and business.
Depending on their activities, the Company's managers are
responsible for managing their stakeholders.
Each year, Enel Américas identifies, reviews, and maps its
stakeholders, an update made in accordance with the
Company’s reality and the environment. This process is carried
out through internal consultations with the referents of the
different areas and lines of business. In 2021, stakeholder
prioritization was carried out according to the relevance they
have for the Company and in line with two variables:
• Dependency: groups or individuals directly or indirectly dependent on the activities, products or services of the organization
and its associated functions.
• Influence: groups and individuals that can have an impact on the organization or strategic interest groups for the decision-
making process.
Enel Américas’ stakeholders:
• Our people
• Clients
• Financial Community
• Institutions
• Business Community
• Media
• Suppliers and contractors
• Media
• Civil society and local and global communities
• Sociedad civil y comunidades locales y globales
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Integrated Annual Report Enel Américas 2021
Stakeholder Prioritization graph
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Financial community
Institutions
Suppliers and contractors
Civil Society and Local and
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Community
Businesses
Civil society
organizations and
local community
Customers
Financial
community
Government
institutions and
control entities
Workers
Media and
press
Suppliers and
contractors
Strategy and Risk Management 83
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Communication channels
When carrying out its activities, the Company maintains a relationship with its stakeholders through its communication
channels and procedures, thus learning about their needs and expectations. Additionally, through its subsidiaries the Company
maintains a wide presence in social networks, with content aimed at all its stakeholders, with a fluent interaction with its virtual
communities through the various social platforms (Twitter, Facebook, LinkedIn, and Instagram), where it publishes corporate,
educational, commercial, financial, sustainability and customer service information.
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84
Integrated Annual Report Enel Américas 2021
Strategy and Risk Management 85
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Materiality matrix
The information obtained in the materiality analysis makes it possible for the company to elaborate the Enel Américas Materiality
Matrix which reflects the relationship between the priority material issues for stakeholders and the relevance of the Company’s
most strategic issues. It is presented to the Board of Directors and the Directors’ Committee and it becomes a fundamental
pillar that permits to identify the issues to be addressed in the Integrated Annual Report and in the Sustainability Report -where
stakeholders’ expectations are met- and to establish the work motivations embodied in the Sustainability Plan.
The results of the materiality analysis are reflected in the materiality matrix below and are specifically linked to the SDGs.
Materiality Matrix of Enel Américas 2021
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Priority material issues for stakeholders
Creation of economic and financial value
Good governance and equitable
corporate conduct
Commitment to customers
Products and services for
electrification and digitalization
Decarbonization of the energy mix
Innovation, circular economy,
and digital transformation
Infrastructure and Networks
Ecosystem preservation
and environmental management
Management, motivation,
and development of employees
Occupational Health Safety
Sustainable supply chain
Engage local and
global communities
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Integrated Annual Report Enel Américas 2021
Approach to managing material issues
Based on direct stakeholder surveys and complemented with secondary sources, priority topics are identified for each group
of stakeholders. In 2021, Enel Américas recognized the following priorities:
Priority of material aspects for stakeholder groups
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Priority values from 1.0 to 2.5
Priority values from 2.6 to 4.0
Priority values from 4.1 to 5.0
Strategy and Risk Management 87
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Occupational health and safety
Protecting people's health and lives is a central pillar of
the people axis of Enel Américas' Sustainability Plan and
addresses it from a preventive approach and the reduction
of risks related to occupational health and safety. The
Company is aware that operational continuity is crucial to
the success of the business and depends on security risks.
Preventing and reducing risks permits to achieve business
sustainability, beyond legal requirements. Additionally,
human rights, including access to work, are priorities as
a requirement to achieve other fundamental guarantees
that directly affect people’s well-being and life quality and
society as a whole.
Good Governance and Fair Corporate Conduct
Enel Américas has put in place a robust Corporate
Governance structure based on the principles of
transparency, ethics, and integrity. The Company
incorporates international practices and standards
together with local regulations. The governance structure
is constructed in such a way so as to permit to monitor
and control the potential impacts on its operations. Enel
Américas' Corporate Governance aims to create value for
all shareholders, along with accommodating the interests of
its stakeholders. The Board of Directors is one of the main
governing bodies. Integrity in operations is supported by the
implementation of Enel Américas' Global Compliance Model.
For more detail, see Chapter 2 on Governance.
Decarbonization of the energy mix
Américas, Enel Américas begins a new phase in renewable
energy. As part of the incorporation process, the Company
will integrate 3.5MW by 2024, which anticipates that 76%
of the generation will come from renewable sources.
On the other hand, it provides flexibility and reliability to
the energy matrices of the countries in which it currently
operates through its gas generation capacity, in the
process of changing energy sources that present greater
intermittency.
Table of generated and
distributed economic value
Operating income during 2021 grew by 31.7% compared
to the previous year reaching US$16,192 million. The
main reason for this increase is the incorporation of the
Enel Green Power Américas subsidiaries merged on April
1, 2021, and a better performance of the operations of
Brazil Colombia and Peru, partially offset by the negative
effect of the conversion of figures due to the devaluation
of local currencies against the US dollar and lower revenues
in Argentina.
Operating costs during 2021 rose by 33.8% in relation to the
previous year reaching US$13,009 million. The main increase
in costs is due to a higher level of activity of the distribution
companies in Brazil, which incorporated greater energy
purchases into their costs and the incorporation of EGP
Américas companies as of April 1, 2021, partially offset by a
decrease in costs stemming from the conversion of figures
from the devaluation of local currencies against the US dollar.
The acceleration of the energy transition process at Enel
Américas operates on the basis of a flexible generation
matrix, which contains the increased incorporation of
renewable sources, as well as the reduction of fossil fuel
consumption. With the addition of Enel Green Power
The item that is related to payments to the government
include payments made in each of the countries where the
Company operates (none of which are tax havens). Enel
Américas contributes with the payment of taxes, to the
development of the local economies themselves.
Income
Operating
Generated Economic
Value (GEV)
Non-operating
Operating costs
Wages and social benefits for employees
Payments to capital suppliers
Distributed economic
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Financial expenses
Dividend payments
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value (REV)
Tax payments
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2021
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2020
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88
Integrated Annual Report Enel Américas 2021
Strategy and Risk Management 89
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Finally, the economic value retained reached US$172 million
in 2021, a US$49 million increase, which is explained by
the operational reasons already detailed above, and a
higher payment to the government, mainly in Argentina
and Colombia, due to changes in tax rates, partially offset
by lower dividend payments.
Tax transparency
Following the spirit of its sustainability strategy, the Company
manages its tax activities in accordance with the values of
honesty and integrity.
Enel Américas strongly believes that fiscal transparency
is another relevant dimension of sustainable finance. The
disclosure of its contributions shows the importance that
the Company places on tax issues, their social role and, in
general, transparency as a factor that promotes sustainable
development.
Enel Américas' 2020 report highlights the importance
the Group attaches to tax matters and their social role as
a significant contribution to the communities in which it
operates.
The objectives of the strategy are to safeguard the
patrimonial integrity and transparency of Enel Américas over
time, as well as the interests of the Company’s shareholders.
The Board of Directors establishes the tax strategy in order
to guarantee a uniform management of the taxation of all
the Group’s entities, which is based on the double logic of
(i) the correct and timely determination and settlement of
the taxes established by law and the implementation of the
relative compliances; (ii) and to mitigate tax risk, understood
as the risk incurred by the violation of tax rules or by the
abuse of the principles and purposes of the tax system.
Shareholder value
The Group considers taxes a cost of business activity, and thus
manages them respecting the principle of legality, in order to
safeguard the corporate patrimony and to pursue the primary
interest of creating value for shareholders in the medium and
long term.
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Integrated Annual Report Enel Américas 2021
Principal policies
Enel Américas has a definition of principles, values, policies,
and procedures, intended to promote the Company’s
adequate governance and which have been approved by
the Board of Directors..
• Protect the environment by preventing impacts.
• Improve and promote the environmental sustainability of
products and services.
• Create shared value between the Company and its
Biodiversity policy
The Company identifies six practices to be implemented
in the development of its activities, in line with
international standards and principles outlined in the
UN Convention on Biological Diversity (CBD), the UN
Strategic Plan for Biodiversity 2011-2020 and Aichi
Biodiversity Targets for CBD, as well as other national
and international biodiversity strategies.
As part of this policy, Enel Américas promotes the
principle of No Net Loss, through adequate project
planning and preventive environmental assessment of
biodiversity, avoiding, reducing and/or compensating
for negative impacts on relevant species and natural
habitats, whether due to their degree of protection,
representativeness indices and/or ecosystem value. The
identification and valuation of biodiversity and ecosystem
services of the territories in which the Company operates
is carried out in collaboration with local communities,
academic institutions, and NGOs, a basis on which
projects for their restoration, conservation and monitoring
are proposed and then developed.
Environmental Policy
The policy is based on four basic principles, recognizing
the importance of impacts on the environment, natural
resources and climate change as strategic factors in the
planning and operation of Enel Americas and its subsidiaries
in order to advance the energy transition and commitments
to sustainable development:
stakeholders.
• Adopt and meet voluntary commitments, promoting
ambitious environmental management practices.
Sustainability and Community
relations policy
This policy aims to publicize the commitments, principles
and guidelines that promote social and economic
development in the localities in which the Company
operates, with a long-term view through the creation of
shared value by protecting the environment, as well as
contributing to social, community, environmental and
economic management.
Enel Américas has implemented the shared value creation
model throughout its value chain aiming to integrate
environmental and social aspects into its business strategy.
With this model, the Company establishes transparent
relationships with stakeholders, legitimizing its operations
by promoting the socioeconomic development of
communities in accordance with con-designed plans
that respond to local priorities and needs. In this way, it
facilitates the establishment of relationships of trust based
on ongoing dialogue.
Human rights policy
Enel Americas has a Policy approved by its Board of Directors,
which has been updated in November 2021 to adapt to the
evolution of international reference frameworks and its own
operational, organizational and management processes.
Strategy and Risk Management 91
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On the road to zero emissions
Demographics, urbanization, urban development, and new technologies are the megatrends that influence sustainable
development and redefine the future. The challenges of the next decade to reach an electrification rate of 50% by 2050 in the
scenario outlined by the International Energy Agency – which aim to limit the increase in global temperature to 1.5 degrees
Celsius (ºC) – require a global effort.
Enel SpA outlined three conditions that must be met to achieve these goals: energy must be affordable and clean; electricity
should be delivered to end-users in a reliable and secure manner by increasing the resilience of the grid by leveraging digital
pathways to guarantee uninterrupted use; and it must adapt to the growing demand and ease of access to end users, enabling
a more prosperous and energy-efficient future.
Innovation
The innovation of products, services or processes is a strategic
priority that guarantees the Company’s long-term success
in a context of an increasingly competitive and demanding
market. This scenario offers new opportunities based on the
development of energy solutions that promote sustainability
and permits to diversify the offer of products and services.
Argentina
Application to the Association of Entrepreneurs of Argentina
(ASEA), which seeks to promote entrepreneurship through
influencing public policies and accompanying entrepreneurs
throughout the country.
Enel Américas has two work axes: innovation ecosystems
through the Open Innovability model, materialized with
Innovation Hub, and the culture of innovation through Ideas
Hub.
Together with recognized organizations and institutions, the
Company developed innovation spaces aimed at training
internal and external audiences. These spaces included
meetings and workshops organized in 2021.
Innovation Hub
With its Open Innovability model – or sustainable open
innovation – Enel Americas creates solutions, products,
and services with the aim of continuously transforming the
current energy model. This way, the Innovation Hub detects
start-ups whose technology have the necessary potential to
transform good ideas into business solutions. In 2021, more
than 100 emerging companies from all over Latin America
were evaluated, permitting to plan the development of
Concept Tests together with the ones selected for 2022.
Main Innovation Hub initiatives by country
As part of the collaborative innovation framework, Enel
Américas developed different activities in 2021 to promote
it both internally and externally, through alliances with
various organizations in the countries where the Company
is present.
Brazil
Innovation for more sustainable energy
• To simplify operations and reduce energy consumption and
environmental impact, along with delivering greater safety,
Enel Américas uses drones as an innovative technological
option to provide maintenance of power plants. In the
Lagoa dos Ventos wind farm, such aerial systems were
used to carry out the prospections and topographic surveys
necessary for the definition of the project.
• Enel Brasil is testing a technology that allows the drone
to analyze the images collected in flight in real time.
The system was developed by Horus, a Brazilian start-
up supported by the Group within the framework of its
Energy Start program, enabling an increasingly fast and
efficient journey task implementation.
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Integrated Annual Report Enel Américas 2021
Colombia
• As part of the positioning of the Open Innovability
open innovation model, the greatest achievements
became the leaders of the energy sector in the ranking
made by the 100 Open Startups - Connect Bogotá
Region and Top 11 in the measurement of business
innovation 2021 developed by ANDI-Revista Dinero.
• As for customers and suppliers, the Company
held ideation sessions such as "Coal Suppliers",
"Strengthening Power Plants Portfolio", Play Energy
and Embellishment SE San José, among others
Perú
• Wake Up Innovator: periodic webinars to share practical
content that helps develop the skills associated with
employees’ creativity and innovation. Six were carried out
during the year, creating an impact on more than 40% of
the Company.
• Sponsorship of the "Kunan Challenge" event: a platform
whose main objective is to promote the ecosystem of
social entrepreneurship in Peru.
• Agreement with the Universidad Científica del Peru to
establish a joint collaboration between companies and the
house of studies in the realization of academic activities
(including scientific research) on innovation, circular
economy, and renewable energies, among other topics.
Central America
• In 2021, the Company promoted access to education by
stimulating innovation. To this end, two programs were
implemented:
• Agile Awareness Program: training on agile mindset and
methodologies available to employees and stakeholders
(communities and suppliers). In total, about 152 man-hours
of training on these topics were delivered, with an impact
on approximately 82 people.
• Digital Volunteering Program: comprehensive training
workshops available to teachers, students, and female
entrepreneurs from the rural communities in which the
Company operates. In total, approximately 141 community
members were trained, with the support of more than 30
Enel volunteers.
Strategy and Risk Management 93
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The Company established the Idea Hub, which seeks to create knowledge and behavior in innovation and intrapreneurship,
inviting all employees to participate and integrate the business. The program encourages technical and professional teams’
creativity putting at their disposal the necessary tools to develop their capabilities.
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Lines of work:
• Innovation Academy: innovation academy open to all the
Company’s employees who participate, develop, or have
an interest in innovation, digital transformation and want
to incorporate knowledge and new methodologies in their
way of working.
• Enel Idea Factory: innovation methodologies to help find
new solutions to solve business challenges and encourage
intrapreneurship.
• Innovation Culture: various activities, talks, workshops,
which seek to inspire and enhance divergent thinking
at Enel.
• Innovation ambassadors: community of innovation
ambassadors, whose role is to promote the open
innovation culture within the organization, disseminate
methodologies, lead creative sessions, and promote
intrapreneurship.
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Through Enel Idea Factory, the Company promotes the use of different methodologies that help employees to think in a divergent
way, offering them support in the analysis, selection, and implementation of the best solutions to the various problems and / or
challenges transforming workspaces into true innovation laboratories.
OJO las Fotos
OJO las Fotos
Idea Factory Methodologies
Metodologías Idea Factory
Idea Factory Methodologies
Creative problem solving
Solución creativa de problemas
Based on the natural way in which
Creative problem solving
creative thinking is built. This
Based on the natural way in which
Basada en la forma natural en la
methodology seeks to turn
creative thinking is built. This
que se construye pensamiento
problems into challenges, opening
methodology seeks to turn
creativo. Esta metodología busca
the way to a resolution process
problems into challenges, opening
convertir los problemas en
that generates a fertile
the way to a resolution process
desafíos, abriendo paso a un
environment for creative ideas.
that generates a fertile
proceso de resolución que genere
The construction of thought
environment for creative ideas.
un ambiente fértil para ideas
emerges as a four-phase process:
The construction of thought
creativas.
1 Clarify
emerges as a four-phase process:
La construcción del pensamiento
2 Devise
1 Clarify
surge como un proceso de cuatro
3 Develop
2 Devise
fases:
4 Implement
3 Develop
1 Clarificar
4 Implement
2 Idear
3 Desarrollar
4 Implementar
Design Thinking
Design Thinking
A "human-centric" way of working,
Design Thinking
which puts the customer at the
A "human-centric" way of working,
Modo de trabajo “humano
center of everything and uses
which puts the customer at the
céntrico”, que pone al cliente en el
different tools to co-create with
center of everything and uses
centro de todo y usa distintas
them the product or service that
different tools to co-create with
herramientas para co crear con él
best suits their needs, changing
them the product or service that
el producto o servicio que mejor se
their habits and improving their
best suits their needs, changing
ajuste a sus necesidades,
experience.
their habits and improving their
cambiando sus hábitos y
experience.
mejorando su experiencia.
The phases of Design Thinking are:
1 Empathize
The phases of Design Thinking are:
Las fases del Design Thinking son:
2 Define
1 Empathize
1 Empatizar
3 Devise
2 Define
2 Definir
4 Create a prototype
3 Devise
3 Idear
5 Test
4 Create a prototype
4 Crear un prototipo
5 Test
5 Testear
Lean Startup
Lean Startup
It is used for business and product
Lean Startup
development and allows for
It is used for business and product
Se utiliza para el desarrollo de
shortening the cycles of each
development and allows for
negocios y productos y permite
process, adopting a combination
shortening the cycles of each
acortar los ciclos de cada proceso,
of hypothesis-driven
process, adopting a combination
adoptando una combinación de
experimentation to measure
of hypothesis-driven
experimentación impulsada por
progress, iterative product
experimentation to measure
hipótesis para medir el progreso,
launches to gain valuable customer
progress, iterative product
lanzamientos de productos
feedback, and validated learning to
launches to gain valuable customer
iterativos para ganar valiosa
measure how much has been
feedback, and validated learning to
retroalimentación de los clientes y
learned.
measure how much has been
aprendizaje validado para medir
The phases of the process are:
learned.
cuánto se ha aprendido.
The phases of the process are:
Las fases del proceso son:
1 Learn
1 Aprender
2 Create
1 Learn
2 Crear
3 Measure
2 Create
3 Medir
3 Measure
• Innovation Ambassadors
This project seeks a network of people from different areas
who can influence, expand, and develop innovation culture
at the organization’s different levels. Its purpose is also to
improve voluntary and cross-functional collaboration, as
well as to actively participate in all areas. The Company is
aware that in order to establish a culture of innovation, it is
essential to have employees who apply it every day in their
work of generation, distribution, and supply of energy.
Make it Happen
It is a corporate entrepreneurship program that promotes
employee participation in the presentation of original
ideas that solve commercial needs (new businesses) and
the derivatives of the operation (improvement ideas). This
initiative seeks to develop the proactive and experimental
capacities of all Enel employees around the world, with
the understanding that each of them can be decisive in
advancing the innovation process and transforming the
organization. This initiative emerged in March 2019 and has
the support of experts in each phase, with venture capital
and exclusive time to develop the projects.
Innovability week
Carried out jointly by Enel Colombia, Enel Chile and Enel
Peru, this activity attracted the participation of many of the
Group’s employees at global level and allowed to exhibit the
projects in development of the Innovation area. The modality
of the event was online and the activities were focused on
enhancing learning and inspiration to jointly challenge the
future through sustainable innovation.
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Open Innovability Model
In 2020, three initiatives (Gxcellence, Digital-G and Hall of Energies) were joined in a single program: Power G. The program
recognizes behaviors in people in accordance with the Company’s Open Power values, valuing innovative ideas and best
practices and the adoption of new digital tools. In 2021, the year of the second version, the number of ideas collected and
compared to the previous year was greatly exceeded.
(cid:31)
(cid:30)
(cid:31)
(cid:30)
(cid:29)
(cid:29)
(cid:30)
(cid:28)
(cid:31)
(cid:30)
(cid:26)
(cid:21)
(cid:29)(cid:28)(cid:27)
(cid:23)(cid:22)(cid:25)
(cid:29)
(cid:30)
(cid:25)
(cid:24)
(cid:31)
(cid:25)
POWERG AWARD
(cid:31)(cid:30)(cid:29)(cid:30)(cid:28)(cid:27)(cid:26)(cid:25)(cid:24)
Enel Américas has also promoted a methodology that
fosters innovative ideas from employees through Global
Power Generation, where everyone can contribute their
initiatives, which are then reviewed by a committee. After
the selection, the winning projects are implemented and
the proponents receive a prize. Thus, Power G recognizes
the effort, in accordance with the Open Power values,
promotes innovative ideas and best practices and adopts
new digital tools.
Innovating in the energy transition process
Enel Américas’ objective has focused on searching for new
technologies that support the energy transition process
through advances in robotics and digitalization. With a
view to the long term, the Company has promoted the
development of new ways of producing energy, through the
advantages provided by marine energy and the hybridization
of energy production, among others. At the same time, the
organization has focused on adapting to constant change,
establishing internal and external innovation. Inward, the
organization is more horizontal and matrix-like, which
facilitates communication. Externally, Enel Américas works
with start-ups and open call processes for anyone who wants
to present a solution.
I&Nnovability Challenge
The Global Infrastructure & Networks business line has
focused on finding innovative solutions to improve the
quality of work, network efficiency and service. Through
intelligent proposals that exploit technologies with high
added value, such as virtual reality, wearables, robotics,
and artificial intelligence, among others, business
workers respond with their proposals to real challenges
previously identified, thus promoting new technologies
and sustainable processes. Competitors contend on
the basis of benefit and feasibility, to be the selected
alternative to be implemented in the short term.
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Circular economy: sustainable business model accelerator
The Company has been actively incorporating Circular Economy principles and fundamentals along its entire value chain
and in all its business lines, to accelerate the implementation of its sustainability strategy. At the same time, together with its
subsidiaries, the Company works on strengthening social, environmental, and economic capital, combining it with innovation,
competitiveness and sustainability.
Circular economy
Iniciatives
Projects
Circular economy
Business
line
C I R C U L A R DESIGN
USEFUL
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Through Ecoenel, DSO
customers in Brazil can
exchange their recyclable
waste for subsidized
energy bills.
Improve the performance of
water use in cooling towers
through a inlet control
system.
Sale of aluminum and copper
to companies that separate
them and sell them for reuse
Use recycled polycarbonate to
manufacture new meters,
both in the market and in the
old ones.
The climate crisis represents an urgent call to action and
requires that new ways of looking at the relationships
between businesses, customers and the planet's natural
ecosystems be integrated from the grassroots. Human
activities consume about 1.75 times of Earth’s carrying
capacity which means that 75% more of the natural
resources that systems regenerate each year are being used.
Circular Economy is a paradigm shift to the current
linear economic system based on "extracting, producing,
consuming and discarding". It proposes a transformation
of the entire economic system, decoupling the growth of
natural resource extraction and eliminating the generation of
waste from design. It is based on three principles: eliminate
waste and pollution from the design; keep products and
materials in use over time and regenerate natural systems.
Therefore, energy transition towards clean technologies
plays a key role.
Around half of the world's emissions are produced by
polluting energy sources, while the other is generated
along the production chains of the various economic
sectors. It is here that Circular Economy is presented not
only with the potential to generate disruptive changes that
allow to guarantee a sustainable future, but also delivers
opportunities for businesses to enter new markets with
innovative solutions, products and services.
Circular Economy is a central and relevant issue for Enel
Américas' sustainability strategy, as it allows it to reconcile
sustainable growth with addressing the climate crisis.
Therefore, its principles and foundations are configured
as a specific tool, which promotes innovation, generates
new sources of income and work, and reduces exposure to
market risks, minimizing environmental impacts.
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The Company's transition to circular economy applies from procurement management to value creation for customers. To
capitalize these benefits, Enel Américas integrates five pillars that drive circularity:
Pilar
Circular inputs
Useful life extension
Product as a service
Shared platforms
New life cycles
Description
Principal metrics
Production and use model based on re-
newable inputs or from previous life cycles
(reuse and recycling).
Renewable
Efficiency
Reuse
Recycling
Renewable
Approach to the design and management
of a product or asset intended to extend
its useful life, for example, through modular
design, facilitated reparability and predicti-
ve maintenance.
Business model in which the customer
acquires a service for a limited time, while
the Company maintains the property of the
product, maximizing the utilization factor
and the useful life.
Useful life extension
Increased load factor
Sharing an underutilized asset among mul-
tiple users using information technologies.
Increased load factor
All solutions aimed at preserving the value of
an asset at the end of its life cycle thanks to
reuse, regeneration, and recycling, in synergy
with the other pillars.
Reuse
Recycling
Waste
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Integrated Annual Report Enel Américas 2021
Circular economy
Extension of useful life Design
approach and management of
assets or finished products to
extend their useful life, for
example, through modular
design, facilitated reparability,
predictive maintenance.
C I R C U L A R DESIGN
USEFUL
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Circular inputs
Production and use model based
on renewable inputs or inputs
from previous life cycles (reuse
and recycling)
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New life cycles
Each solution aimed at preserving
the value of a good at the end of
its life cycle through reuse,
regeneration, and recycling, in
synergy with the others
Pillars.
Product as a service
Business model in which the
customer acquires a service for
a limited period of time while
the Company maintains
ownership of the product,
maximizing its use factor and
its useful life.
Platform of compatible use
Common management
systems between several users
of products, goods, or
competences.
As a strategic accelerator of its sustainable business model, Enel Americas has set itself the challenge of incorporating
the circular economy strategy along the value chain, from the procurement stage to customers, combining innovation,
competitiveness, and sustainability. In 2021, the initiatives, based on four axes were implemented:
1. Cultural change management
2. Link with the ecosystem
3. Value chain transformation
4. Circularity metrics
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Highlights
In relation to the deployment of the circular economy culture,
in 2021 the Company held the second and third editions of
Enel's LATAM School of Circular Economy, an eight-week
program designed for Enel Group employees in Latin America.
More than 200 professionals from seven countries (Chile,
Colombia, Brazil, Argentina, Peru, Guatemala, and Costa Rica)
from all lines of business participated in each edition. Among
the topics discussed were the following ones:
Climate change
After COP26 in Glasgow, Scotland, the world agreed that all
actions implemented over the next decade will be decisive
in containing the effects of climate change and avoiding the
environmental, social, and economic repercussions of an
increase in average temperature of more than 1.5 °C. The
whole world is moving towards the Net Zero goal and to
achieve this requires to massively increase the electrification
of customer energy demand, where electricity will play a
leading role even in those sectors where it has never existed.
The Enel Group's strategy makes it possible to integrate
sustainability along the entire value chain, paying attention
to issues related to climate change, while at the same time
offering a return for its shareholders. Part of the Company's
leadership considers guiding the energy transition process
towards the decarbonization and electrification of energy
consumption, which represents an opportunity to increase
value creation, as well as to contribute to achieving the SDGs
established by the United Nations in the 2030 Agenda. The
sustainability strategy developed in recent years and the
integrated business model have made it possible to create
value for all stakeholders, benefiting from the opportunities
that are emerging from the energy transition and, at the same
time, limiting the related risks.
• Finance in energy transition.
• Social impacts of circular economy.
• Role of innovation for circular economy.
• Circular cities within the framework of COP26.
Circular economy projects were also developed according
to the business lines in each country.
Key role of energy
The energy sector plays a fundamental role in reducing
greenhouse gases, since it must produce and distribute
clean electricity to society, by developing infrastructures
and networks that permit to deliver safe, affordable, and
quality energy. The resilience of the grid is essential to
accelerate the electrification process, a new stage in
which customers will play a central role, because without
them the word electrification would not make sense. All
this can happen only under certain conditions: affordable,
clean, safe, stable, reliable, and quality energy. For more
detail review the Sustainability Report.
The Enel Group's 2022-2024 Strategic Plan anticipates
decarbonization by ten years and, from 2040, is
committed to meeting the "Net Zero" target for direct
CO2 emissions (scope 1). To contribute to this ambitious
goal, Enel Américas has been working along the following
strategic lines, which can be reviewed in detail in the
Sustainability Report:
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Strategy and Risk Management 101
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Structure
Enel Américas’ Corporate Governance and structure
define those specific tasks and responsibilities of the
governing bodies within the Company, ensuring that risks
and opportunities related to climate change are taken
into consideration for all relevant business decision-
making processes.
Board of Directors
It is responsible for examining and approving the Company's
strategy, including the annual budget and business plan,
which incorporate the main objectives and actions; also, in
terms of energy transition and sustainability in general, in
order to guide investments to move towards low-emission
economies, promoting a sustainable business model that
generates long-term value.
Enel Américas has a team of managers who assign
responsibilities related to the specific functions that help
guide leadership in the energy transition process. Each area is
responsible for managing the risks and opportunities of climate
change in its field of expertise.
Strategy to address climate change
The sustainable strategy developed in recent years and
the integrated business model have allowed Enel Américas
to create value for all its stakeholders, capturing the
opportunities that arise from energy transition and action
against climate change. To this end, it has focused its actions
on enabling network infrastructure and implementing
platform models, taking full advantage of technological and
digital evolution, favoring electrification and the development
of new services for customers, leveraged on renewable
generation after the merger with EGP Américas that allowed
the incorporation of 3.7 MW of renewable capacity.
Risk Management
Context
Enel Américas considers risk management as one of the
main tools to define business sustainability, along the
entire value chain and all lines of business. Understanding
economic, environmental, and social contexts is essential
to identify the factors, both external or internal, that can
become potential business risks.
As a result, the Company implemented the Internal
Control and Risk Management System to preventively
identify, address and monitor the risks that may affect
business continuity. Increasingly, the risks that affect
a company’s business coincide with those that affect
society and the environment. That is why it is necessary
to act collectively to generate preventive and mitigating
action in an integrated way, to contrast the social and
environmental risks that today threaten the prosperity
and future of our planet.
Enel Américas is committed to the new concept of
stakeholder capitalism and is convinced that today more
than ever companies must play a fundamental role,
contributing to the economic, social, and sustainable
progress of the countries in which they operate.
As a reference map for the analysis of the global risks
that affect its specific business, Enel Américas takes into
consideration the United Nations Sustainable Development
Goals, the guidelines of the World Economic Forum and
the global objective of the Paris Agreement, to adapt and
mitigate the effects of climate change.
Internal control and Risk management system guidelines
Enel Américas' Internal Control and Risk Management System
(ICRMS) is based on and reflects the principles contained in
Enel Group's Internal Control and Risk Management System,
elaborated by Enel SpA. This document is a central part
of the Corporate Governance structure and is based on
national and international best practices. It is also consistent
with the Internal Controls - Integrated Framework model
issued by the Committee of Sponsoring Organizations of the
Treadway Commission (COSO Report), which is considered
the reference point for the analysis and evaluation of the
effectiveness of ICRMS. This system is subject to audit tests
and verifications, such as ISO 31000:2018 (G31000) or COSO.
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Governance
The ICRMS considers, among other aspects, the following:
• Definition of risk strategies, which guide the deployment of the different levels and types of risk, in coherence with the
business and strategic objectives.
• Separation of obligations and responsibilities between the different units in particular, the division between the functions
of operation and risk control.
Enel Américas' risk governance model is in line with best practices. The following are the organs and functions that make
up this structure:
Risk governance
SENIOR MANAGEMENT
BOARD OF DIRECTORS/DIRECTORS’ COMMITTEE
FIRST LINE OF
DEFENSE
Business Units
Front Offlce.
Risk owners
Responsible for risk
INTERNAL CONTROL
REPORT ON FINANCIAL
INFORMATION
PROCESS LEVEL
CONTROL
MANAGEMENT
CONTROLS
ACCESS CONTROL
SECOND LINE OF
DEFENSE
Risk control.
Guarantees compliance
with limits, criteria, and
principles.
THIRD LINE OF DEFENSE
Internal Audit
Controls the effectiveness of
the measures.
Reports to the Audit Committee.
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Operational
Financial Strategics
(Climate change,
human rights)
Government
Digital Technology
Compliance
Regulations of the CMF
supervisor
Regulations of the CMF
supervisor
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Enel Américas Risk
Control and Management Policy
Enel Américas’ Internal Control and Risk
Management system guidelines
Enel Américas' Risk Control and Management Policy
represents the set of decisions that establish the acceptable
framework for risk levels inherent in its activity. Its aim is to
establish the model to control and manage risks, regulate
the control and management model of these risks, and
identify the main functions. The policy covers and binds all
of the Company’s employees, regardless of the nature of
their functions or their respective positions. It also includes
companies in which it directly or indirectly holds 100% of its
share capital, in which it will be applied as if it were its own
organization.
The ICRMS is a set of rules, procedures and bodies that
allow to identify, measure, and manage the principal risks. Its
effectiveness is reached by the three-level model of action,
called three lines of defense, which segregates functions. The
first two lines of defense have the responsibility to contain
and report to management, while the third does so to the
Directors’ Committee in accordance with international best
practices in Corporate Governance.
The Board of Directors and the executive team represent one
of the main internal stakeholders served by the defense lines
and are best placed to guarantee that the model is applied to
the Company's risk management and control processes.
First line of defense
Business unit
These units must manage their risks.
Second line of defense
Risk area
Third line of defense
Internal Audit
It has the functions of internal controls develo-
ped to guarantee optimal risk management and
compliance monitoring.
Independent evaluation that also reports the
result of the activity carried out to the corpo-
rate bodies.
Note: for more details of the roles and responsibilities of the three lines of defense, please review Enel Américas' Risk Management and Control Policy.
Risk control area
This area corresponds to the Second Line of Defense and actively participates in many corporate bodies to guarantee effective
risk governance.
Functions of the Second Line of Defense: Risk Control Area
• • Define the methodologies and tools to identify, measure and control risks.
• • Submit annually the limits and thresholds of risks for the approval of Enel Américas' Chief Executive Officer.
• • Monitor, at least quarterly, risks and analyze compliance with limits.
• • Must approve or deny requests for exceptions in the transfer of established risk limits (waivers). Any action that exceeds
the approved risk thresholds must have the approval of the Chief Executive Officer of Enel Américas.
• • Support Risk Owners in the definition of risk mitigation plans, as well as follow up on these plans and propose corrective
actions if necessary.
• • Analyze the impact of the relevant operations on the risks.
• • Report at least annually to the Audit Committee on Enel Américas' Risk Map, including both direct and indirect risks 1;
• • Promote and plan the permanent training of the Company's personnel, regardless of the contractual link.
1. The Extraordinary Shareholders' Meeting held on April 22, 2010, approved the merger of the Audit Committee with the Board of Directors Committee.
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Risk Committee
At the executive level, the Company has put in place a
Risk Committee, which aims to define the structure and
processes of risk governance to detect, quantify and
relevant risks of a financial nature and those related to
commodities, statement of commercial debts and credit and
their subsequent communication to the Board of Directors.
It is chaired by the Chief Executive Officer and is also made
up of the Finance and Planning and Control managers. This
Committee reports to the Board of Directors.
Crisis committee
It aims to guarantee clarity, speed and efficiency in decision
making. It also integrates the functions of internal and
external communication to address any event that may
compromise the safety of people, the continuity of public
and business service, the environment, the protection of
assets, the Company’s image, and reputation as well as its
management. It seeks to minimize impacts on stakeholders
and guarantee a rapid restoration of normal operating
conditions. Additionally, in each country in which the
Company is present, it has a Critical Events Monitoring
Office (OMEC) that manages crises in real time, 24 hours
a day, 365 days a year.
The Internal Audit area is the Third Line of Defense and is
responsible for the overall oversight of the structure and
functionality of the ICRMS.
Functions of the Third Line of Defense: Internal Audit Area
• Each year prepare the Audit Plan – based on a structured process of analysis and identification of the main risks – which is
presented and approved by the Audit Committee and the Company’s Board of Directors.
• Monitor the functioning and effectiveness of the ICRMS.
• Carry out controls on specific corporate functions or operations when it deems it appropriate or at the request of the Board
of Directors.
• Reports directly to the Board of Directors and is not responsible or dependent on any operational area.
• Report the result of the activity carried out to the corporate bodies as provided for in the local regulations in force and the
applicable foreign regulations (as is the case of the Sarbanes-Oxley Act, of 2002, and the complementary regulations of the
Securities and Exchange Commission and the New York Stock Exchange of the United States of America).
• Review, as part of the Audit Plan, the reliability of information systems.
Monitor the implementation and effectiveness of the Company's compliance programs inherent to the criminal risks for the
legal entity, in accordance with the provisions of the applicable regulations.
Role of the Board of Directors
The Board of Directors is responsible for monitoring
and controlling the main risks related to the Company’s
business and its subsidiaries - including any risk that may
affect sustainability in a medium-long term perspective -,
establishing the degree of compatibility of said risks with
the established strategic objectives.
Among other functions, it approves the ICRMS guidelines
and evaluates their performance; approves the Audit Plan
based on a structured process of analysis and identification
of the main risks; and reviews the reports of the actions and
procedures to control and manage risks.
It reviews at least once every quarter the main strategic risks
related to the Company's business, complying with their
management, and evidencing the identification of new risks,
as well as the evolution and monitoring of those previously
recognized. This review is in line with the Risk Policies, ISO
31000:2018, internal procedures and external regulations
to guarantee business continuity.
Review of risks related to climate change
In addition to the quarterly presentations of the risks
indicated above, monthly presentations were incorporated
during 2021 to address the specific risks related to climate
change. In July 2021, the risk related to the water crisis was
reviewed and in October, the risk of non-compliance with
the quality indicators (SAIDI-SAIFI) was analyzed, those
whose risk source is climate change..
Internal Control management
The Internal Controls management seeks to guarantee
that the activities of the business based on this issue
Strategy and Risk Management 105
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application of all procedures and regulations in force,
pursuant to the COSO methodology. This area meets all
the requirements for periodic monitoring of the Sarbanes-
Oxley Act, including semi-annual certification of these
controls by the external audit. Similarly, in conjunction
with the Process Owners and Control Owners, it defines
the remediation actions to mitigate control deficiencies
pointed out by independent external auditors, establishing
continuous improvements in the processes, along with
monitoring their implementation and communicating the
status to the Board.
Policies
The Board of Directors reviews and approves each year the
Risk Control and Management Policy complemented by
the specific policies established in relation to certain risks,
corporate functions or businesses of Enel Américas. Below
are the main ones:
Guarantee Management Policy: establishes the guidelines
and methodologies to be applied to manage guarantees
received and to ensure an effective mitigation of counterpart
risk, both in the profile of the supplier and the guarantor.
Commodities Risk Control Policy: its objective is to manage
and control commodity risks, allowing the Company to make
risk-conscious decisions and minimize the probability of not
achieving strategic results. In addition, it permits to control
the risks of non-compliance with price, volume, exchange
rate, credit, and commodity counterpart regulation, as well
as financial regulation.
Credit and Counterpart Risk Control Policy: aims at the
management and control of credit counterparty risk,
minimizing the likelihood that the expected results will be
affected by the default or the reduction of the credit quality
of a counterpart.
Financial Risk Control Policy: its objective is to manage and
control financial risks, minimizing the probability of not achieving
strategic and financial results, through the control of financial
market, financial counterparty, liquidity, and operational risks.
Hedging Policy: it aims to mitigate the financial risks related
to exchange rates and interest rates variation, minimizing
the exposure of flows to the volatility of these variables.
− Enel Américas' exchange rate hedging policy states
that there must be a balance between flows indexed
to the dollar or local currency and the levels of assets
and liabilities in that currency. The instruments used to
comply with this policy correspond to currency swaps
and exchange rate forwards
− The interest rate hedging policy aims to achieve
a balance in the debt structure, which permits to
minimize the cost of debt with reduced volatility in
the income statement. The instruments currently used
correspond to rate swap, which are fixed from variable
to fixed rate.
Climate Change Policy: the objective is to establish a
common framework at the level of the Américas, to guarantee
effectiveness in the management of risks related to climate
change and opportunities, at a strategic level, integrating the
Company’s main processes and decision taking.
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Strategy and Risk Management 107
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During the reported period, Enel Américas conducted
various training sessions as part of this Risk Management
Culture, with the participation of more than 330 people,
including Risk Owners from Latin American countries
(Argentina, Brazil, Colombia, Peru, and Central America)
and members of the LatAm Board of Directors and Enel
Américas.
Risk Owner is the person responsible for identifying,
reporting, assessing, and monitoring risks related to their
area or line of business. The role of the Risk Owners, in
addition to managing the risks under their perimeter and
responsibility, has been to act as disseminators of the Risk
Management Culture, as well as to encourage and promote
the commitment to the best risk management practices in
a transversal way in Enel Américas’ different business areas.
During the reported period, members of the Board of
Directors of Enel Américas and the LatAm countries
participated in training on the Risk Management Culture
and Cybersecurity (Cyber Risks). The C-levels of the LatAm
countries also participated in these training sessions.
a risk is identified to when it is evaluated and dealt with.
This way, the person responsible for the risk or Risk Owner
must self-evaluate, manage, as well as keep updated the
risks that are under his or her responsibility, according to
the frequency defined together with LatAm Risk Control,
and / or ad-hoc, whenever the risk undergoes any change.
The SAP-GRC system provides tools for the complete
and automated management of organizational processes
that involve potential risks to the Company's governance,
adapting compliance rules for safe and preventive
management.
Similarly, it permits the different areas of the business
lines to trace the information and make comprehensive
risk assessments in order to make relevant decisions. The
implementation of the SAP-GRC system has made it possible
to carry out the Annual Self-Assessment Process of Enel
Américas' Risks, in which all hierarchical levels, from the
direct risk manager to the LatAm Country Manager, gave
their approval to the information reported and monitored
in the SAP-GRC system.
In 2021, and as part of Enel Américas' Risk Management
Culture, the Company implemented the SAP-GRC system
was implemented in all its bussiness lines, with more than
280 active users. Its main objective is to improve the
risk management process and automate the workflow
throughout all stages of management, from the moment
SAP-GRC has positioned itself as a solid and reliable tool
that has allowed the Company to increase efficiency in the
management processes and continuous monitoring of Enel
Américas’ risks, providing relevant information in real time,
and guaranteeing compliance with the best practices of
Governance and Risk Management.
1. It refers to the CEOs and CFOs.
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Risks and opportunities related with the Strategic Plan
Considering the nature of its operations, Enel Américas
adopts a classification of six risk categories to which it is
exposed: Strategic, Governance and Culture, Compliance,
Financial, Operational and Digital Technology.
Risk analysis includes environmental, social and governance
(ESG) risks, which are analyzed by the Risk Control area
in conjunction with the Sustainability area. Both design
the process of identifying the ESG risks that affect the
Company's business, a process that directly involves all
responsible units, creating awareness and culture about
the relevance of these risks for the Company and the world
in general, obtaining as a result a risk matrix.
The risks are defined in a catalogue that serves as a
reference for the various areas of Enel Américas, as well as
for all the units involved in the management and monitoring
processes. The adoption of a common language facilitates
the mapping, understanding and exhaustive representation
of risks, thus contributing to the identification of those that
affect the processes and functions of the organizational
units involved in their management.
The Company considers in its risk assessment Enel SpA's risk
taxonomy, based on the aforementioned six macro categories.
This involves an exhaustive understanding of the value chain,
as well as the multidirectional, dynamic relationships in
different time horizons between the external variables and
each of their stages, under different scenarios considering
the megatrends and their probable impacts in different terms.
To identify the risks, the Company uses a structured and
systematized theoretical framework, which considers the
contributions of financial analysts, sustainability analysts,
perception surveys, TCFD guidelines, results of human
rights due diligence, internal, external and ISO audits,
among others.
Once the variables have been identified, their relevance in the
Company's financial results and strategy is defined, integrating
the materiality analysis that is updated annually and that
makes it possible to get to know our stakeholders’ priorities.
For each risk, a probability of it happening and the impact
are estimated, with the participation of the business lines and
staff areas actively involved as a way of creating a risk and
sustainability culture. If necessary, actions to mitigate these
risks are agreed within different deadlines.
In its strategic definition process for the 2022-2024
period, the Company has considered the main risks and
their opportunities, as well as the resilience of its business
model to their materialization. Apart from other risks, those
associated with climate change have been considered,
those that are integrated into the Company's strategy
and in the commitment of its parent Enel SpA: Net Zero
Emissions by 2040.
In consideration of these aspects, in November 2021 the Board
of Directors approved the Enel Américas Strategy, which is
detailed earlier on in this chapter.
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According to the main findings of the World Economic
Forum's 2021 Global Risk Report, infectious diseases
lead the list of the most impactful risks of the next
decade, followed by the failure of climate action and
other environmental risks; as well as the use of weapons
of mass destruction, debt crisis, livelihoods and IT
infrastructure.
Over a two-year horizon, the most critical and most
likely risks that might occur and those with the greatest
impact on the world are employment and livelihood
crisis, widespread youth disillusionment, digital
inequality, economic stagnation, human damage to the
environment, erosion of social cohesion and terrorist
attacks.
The main risks identified over a three- to five-year
horizon include asset bubbles, price instability,
commodity shocks and debt crises, followed by failed
intergovernmental relations and geo-politicization of
natural resources. Finally, over a five- to ten-year horizon,
the main risks are biodiversity loss, natural resource
crisis, failure of climate action; followed by weapons of
mass destruction, adverse effects of technology and
collapse of multilateral institutions.
Enel Américas seeks to mitigate all risks that may affect
achieving its business objectives. In 2020, the Company
approved the risk taxonomy for the entire Enel Group
which as noted above, considers six macro categories
and 37 subcategories that are detailed below:
:
Strategic
Governance and Culture
Digital technology
• Legislative and Regulatory
Development
• Macroeconomic and
Geopolitical Trends
• Climate Change
• Competitive Landscape
• Strategic Planning and Capital
Allocation
• Innovation
• Corporate governance
• Corporate culture and ethics
• Party commitment
Stakeholders
• Reputation
• IT effectivity
• Cybersecurity
• Digitalization
• Continuity of Service
RISKS
Financial
Operational
Compliance
• Interest rates
• Commodity
• Tiype of foreign exchange
• Credit and counterparts
• Liquidity
• Adecuaction of Capital
structure and Access to
financing
• Health and safety
• Environment
• Acquisitions, Logistics, and
Supply chain
• People and Organization
• Intellectual property
• Protection of assets
• Service quality management
• Customer needs and
satisfaction
• Business interruption
• Process efficiency
• External disclosure
• Tax compliance
• Financial regulation
compliance
• Corruption
• Antitrust compliance
• Data protection and consumer
rights
• Compliance with other laws
and regulations
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Risk categories
Risk subcategories
Potential impacts
Strategy
Legislative and regulatory development.
Macroeconomic and geopolitical trends.
Climate change (physical risks y transition risks).
Competitive landscape.
Strategic planning and capital allocation.
Innovation.
Governance and culture
Corporate Governance.
Corporate culture and ethics.
Engagement with stakeholders.
Reputation.
Digital Technology
IT effectiveness.
Cybersecurity.
Digitization.
Continuity of service.
Compliance
Operational
Financial
External disclosure.
Tax compliance.
Compliance with financial regulation.
Corruption.
Antitrust compliance.
Data protection and consumer rights.
Compliance with other laws and regulations.
Health and safety.
Environment.
Purchasing, logistics and supply chain
People and organization.
Intellectual property.
Asset protection.
Service quality management.
Customer needs and satisfaction.
Business interruption.
Process efficiency.
Interest rate.
Commodity.
Foreign currency exchange rate.
Credit and counterpart.
Liquidity.
Capital adequacy and access to financing.
Possible adverse effects on the business as a result of
regulatory changes.
Possible effects of deteriorating global economic and
geopolitical conditions as a result of economic, financial or
political crises.
Potential impacts of slow or inadequate responses to
environmental and climate change.
Possible impacts of a weakening of competitive positioning
in the markets.
Possible reputational impacts that may affect the Company´s
Image.
Potential impact of ineffective IT system support for business
processes and operational activities.
Potential impact of cyberattacks and theft of sensitive
company and customer data.
Organizational and operational impact on business
processes, with a possible increase in costs due to an
inadequate level of digitalization.
Potential impact of IT/OT systems exposure to service
interruptions and data loss.
Impact of violations of applicable data protection and privacy
laws.
Potential impact on the health and safety of employees and
other persons involved, as a result of a violation of health and
safety laws.
Impact of violations of applicable data protection and privacy
laws.
Impact attributable to inadequate organizational structures
or lack of internal competencies.
Impacts due to increased volatility of interest rates.
Volatility of commodity prices or lack of demand or availability
of raw materials.
Impact of adverse exchange rate changes.
Effect of impaired solvency, breach of contract or excessive
concentration of exposures.
Potential impact of short-term financial stresses.
Note: The risk related to human rights breaches is a cross-cutting risk to the six macro categories.
Below are the six macro categories:
• Strategic Risks: are those that can significantly affect
the Company's strategic objectives, both in the short and
long term. These objectives have been established by Enel
Group’s management.
• Governance & Culture: these are risks of incurring judicial
or administrative sanctions, economic or financial losses
and reputational damage as a result of the inability to
meet stakeholders´ expectations, an ineffective exercise
of supervisory functions and/or the absence of integrity
and transparency in the decision-making processes and/
or consequence of unauthorized attitudes and conduct
of employees and senior management, in violation of the
Company's ethical values.
• Digital Technology: these are risks inherently vulnerable
to cyberattacks, which can take many forms, from data
theft and ransomware to system invasions with potentially
harmful consequences on a large scale and service
interruptions.
• Compliance Risks: are those which pose the risks of non-
compliance with a regulation or standard. Therefore, risk
management in compliance requires to know and clearly
establish the laws and regulations by which the Company
is governed.
Strategy and Risk Management 111
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Since Enel Américas has a significant customer base, it must
manage a significant volume of personal data. This implies
greater exposure to the risks related to the processing of
personal data and increasingly strict privacy legislation. This
risk has been defined by the Company as an emerging risk,
which is detailed later in this chapter.
• Financial Risks sthey refer to the probability of an event
which might have negative financial consequences for the
Company, in relation to: (i) financial market risks because of
the volatility of interest rates and exchange rates; (ii) risks
arising from any restrictions on access to the financial
market by the Company or risks of meeting the assumed
obligations or cash flow required in the course of its
business, such as liquidity and credit risks.
− Commodities Financial Risk: within this typology is
considered uncertainty before events market futures,
generated by the volatility of production prices
and volumes, availability and demand for energy
commodities, such as gas, oil, coal, or variability
in factors external factors that may affect prices or
volumes of such commodities, such as hydrology,
considering the local peculiarities and the restrictions
of the market in question.
− Credit and Counterpart Financial Risk: risk of
economic loss due to the non-payment of customers
or default of any of the Company's suppliers.
− Risks related to antitrust regulation
They refer to free competition breaches in the markets
where the Company operates. Enel Américas has put in place
a Free Competition Compliance Program, which provides
guidelines on the correct ways to prevent dangerous or
harmful behaviors to free competition. To comply with the
above, the program provides information and education to
the Company's workers through the Free Competition Manual,
so that they can detect on time dangerous situations and,
this way, prevent them from materializing.
• Operational Risks: are those that represent the risks
of the operation, resulting from inadequate internal
processes, systemic failures in the network, and other
events of external causes, which may affect the quality
of the energy supply and performance indicators in the
main aspects identified. They represent the risks of the
operation, in which the quality of the energy supply and
the rate of loss are the main aspects identified.
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Risks related to climate change
Physical risks 1
They are related to extreme weather conditions or to
gradual but structural changes in climate conditions.
Extreme events could expose the Company to a more or
less prolonged unavailability of assets and infrastructure,
recovery costs and inconvenience to customers, among
others. Recurring changes have an impact on the
resources needed for generation or electricity demand,
such as drought and temperature increases.
In December 2020, the Ministry of the Environment of the
Government of Chile published an Atlas of climate risks,
identifying points of attention for potential impacts for
each industrial segment. This important project identified
impact chains organized in 12 sectors. For each chain, maps
of climate threats (A), exposure (E) and sensitivity (S) of the
system under consideration are opened. Climate Risk is
defined as a combination of these three variables. For the
electricity sector, the Atlas defines the following impacts:
• Decrease in water resources.
• Temperature increases on transmission lines.
• Decrease in wind resource.
• Impact on solar radiation.
Transition risks
Enel Américas has integrated these risks into its analyses
and maintains an active monitoring system and predictive
measurements to mitigate them, and also implements
initiatives with local stakeholders, especially in the case of
the decrease in water resources, for actions that generate
a collective impact on the mitigation of these risks.
The geographical diversity and technologies used in
generation and a good predictive measurement of climatic
phenomena permit us to mitigate and manage the changes
associated with weather patterns.
The investments that the Company makes in the distribution
network to make it more resilient to these weather
phenomena are the mitigation and adaptation measure
that Enel Américas is taking at the perimeter of its assets. All
Enel Américas’ areas are subject to ISO 14001 certification
and, through the application of internationally recognized
Environmental Management Systems (EMS), potential
sources of risk are monitored so that any criticality can be
detected in a timely manner.
The path to a low-carbon economy can involve risks related to regulatory, political, legal, technological and market changes,
among others, with a short-, medium- and long-term effect. Enel Américas’ competitive advantage in the management of
these risks is to belong to a group that operates in a more mature market that can share good regulatory, technological,
market practices, among others.
1. As TCFD points out, climate-related risks fall into two main categories: i) risks related to the transition to a low-emission economy, those related to regulations
and norms that may affect climate change impact and ii) risks related to the physical impacts of climate change, those that can affect operational continuity, the
environment and people and society.
Strategy and Risk Management 113
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With regard to the management of social risks, it is important to highlight:
• Social conflicts whose intensity can put the continuity of
operations at risk. To address these potential impacts,
Enel Américas has put in place, at the territorial level, a
strategy of continuous dialogue and the presence of staff
dedicated to relations with communities and stakeholders,
social investment and local development, and structured
Complaints and Claims Management systems that are the
tools to mitigate conflicts related to its operations.
• In case of contingencies, Enel Américas has implemented
plans and processes to correctly manage such situations.
Aware of the strategic role that electric power represents
for the region, these plans prioritize the continuity of the
delivery of energy generated to the system, the electricity
supply to its customers, and the safety of people.
• Risks related to health and safety, such as those caused
by accidents of both its own staff members and/or
contractors, which Enel Américas mitigates by promoting
prevention and safety culture, highlighting the definition
of policies and the integration of safety, in processes and
training, among others.
• Risks related to the diversity, attraction, and retention of
people in the context of the energy transition process. To
address these challenges, Enel Américas has implemented
diversity policies, along with talent management and
promotion policies. The Company carries out different
initiatives dedicated to the reconciliation of personal life
with professional life and also promotes the education and
growth of people through scholarships and courses.
Governance risks
In relation to the management of governance risks, it is important to highlight:
• They stem from unlawful conduct, including corruption, lobbying activities, etc., by own staff members or contractors, or from
anti-competitive practices. Enel Américas has an Internal Control and Risk Management System based on business rules and
procedures.
• Breach of human rights, risks that are raised through the due diligence that is carried out annually throughout the value chain of
Enel Américas and its subsidiaries and transversally to all functions. The due diligence process derives action plans to address
the areas of vulnerability or impacts that are detected.
Emerging Transversal risks
Cybersecurity risks: The speed of technological
development always leads to new challenges, with a
constant increase in the frequency and intensity of
cyberattacks, as well as the tendency to affect critical
infrastructures and strategic industrial sectors, highlighting
the potential risk that, in extreme cases, normal commercial
operations may suffer a setback. Cyberattacks have
changed drastically in recent years: their number has grown
exponentially, as well as their degree of complexity and
impact (theft of corporate and customer data), making
it increasingly difficult to identify the source in a timely
manner. Enel Américas, which operates in numerous
contexts (data, industry, and people), a circumstance
that must be added to the intrinsic complexity and
interconnection of resources that, in addition, over the
years have been increasingly integrated into the Company’s
Daily Operational Processes.
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In addition the Group has adopted a holistic governance
model related to cybersecurity, which applies to the IT
(Information Technology), OT (Operational Technology) and
IoT (Internet of Things) sectors. The framework is based on
the commitment of senior management, global strategic
direction, and the participation of all business areas, as
well as units dedicated to designing and implementing the
systems. It also strives to use market-leading technologies,
design ad hoc business processes, strengthen people's IT
awareness, and implement regulatory requirements related
to computer security.
T h e G ro u p ha s a l so d ef i n e d a n d a d o pte d a r i s k
management methodology for IT security based on "risk-
based" and "cybersecurity by design" approaches, thus
making the analysis of corporate risks the fundamental
step of all strategic decisions. Enel has also created its
own Cyber Emergency Readiness Team (CERT) in order
to proactively respond to and manage any incident in the
field of computer security.
Since 2019 the Group has taken out insurance on
cybersecurity-related risks.in order to mitigate exposure
in addition to technical countermeasures,
Digitalization, IT efficiency and service continuity: Enel
Américas is carrying out a digital transformation of its
entire value chain management, developing new business
models and digitizing its processes, integrating systems,
and adopting new technologies. One consequence of this
digital transformation is that the Enel Group is increasingly
exposed to risks related to the operation of information
technology (IT) systems implemented throughout the
Company in the seven countries in which it operates, with
impacts on operational processes and activities, which
could lead to the exposure of IT and OT systems to service
interruptions or data loss.
The monitoring of these risks is guaranteed by a series
of internal measures developed to promote digital
transformation. Specifically, an internal control system
has been put in place that, through the introduction of
control points along the entire Value Chain of Information
Technologies, allows to avoid risks related to aspects such as
the creation of services that do not adhere to the needs of
the business, failure to adopt adequate security measures and
service interruptions. The internal control system supervises
both the activities carried out internally and those entrusted
to external collaborators and suppliers. The Company is also
promoting the dissemination of digital culture and skills
within Enel Américas, in order to successfully drive digital
transformation and minimize the associated risks.
Personal Data Protection: in the era of digitalization and
the globalization of markets, Enel Américas' business
strategy has focused on accelerating the transformation
process towards a business model based on digital
platforms, through a data-driven and customer-centric
approach, which is being implemented throughout
the entire value chain. Enel Américas has an important
customer base with more than 26 million users and
more than 16 thousand people directly employed by the
Company in the seven countries it operates. Consequently,
Enel Américas' new business model requires managing an
increasingly important and growing volume of personal
data in order to achieve the financial results foreseen in
the 2022-2024 strategic plan.
This implies increased exposure to the risks related to the
processing of personal data and increasingly stringent
privacy legislation around the world. Some of the forms
that these risks materialize may breach confidentiality,
involve the loss of integrity, accuracy, updating and
availability of the personal data of customers, workers
and third parties (such as suppliers and contractors) and
problems in the resilience of systems, all of which could
lead to sanctions, operational or process interruptions,
economic or financial losses and, also, reputational damage.
To manage and mitigate this risk, Enel Américas has
adopted a personal data governance model (Data
Protection Compliance Program) that involves assigning
roles at all levels of companies in Chile (including the
appointment of a Data Protection Officer ("DPO"), the
adoption of digital tools for data mapping, an adequate
assessment of risk impacts, technical and organizational
security measures, among others.
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Impact
Risk
Type (Physical /
Transition)
Description
High
Climate change
Physical risks acute
Particularly extreme weather events in terms of intensity
High
Climate change
Physical risks
Chronic
Increase or decrease in the demand for electrical energy; increase
or decrease in the production of renewables.
Potential impacts
Mitigation
Material issue related with the materiality matrix
Damage to physical assets and interruption
of operations.
Electricity demand is also influenced by
temperature, the fluctuations of which can
have an impact on the business. Similarly,
the generation of renewables is affected
by the availability of resources, whose
fluctuations can also impact the business.
High
Climate change
Transition risks
Policies on CO2 prices and emissions, incentives for energy
transition, greater scope for investment in renewable energies and
regulation on resilience.
Policies related to energy transition and
resilience can affect the volume and return
on investments.
• Active contribution in the definition of public policies through advocacy activities. Participation in dialogue
Climate change/ adaptation to extreme weather events
High
Climate change
Transition risks
High
Climate change
Transition risks
High
Climate change
Transition risks
High
Commercial risk in
conditions of high or
low hydraulics
Stable
Financial and
commodity risks
Stable
Cyber incidents
Stable
Stable
Failure to comply
with SAIDI / SAIFI
Forced stoppage
because of social
demonstrations
Changes in the prices of raw materials and energy, evolution of
the energy mix, changes in retail consumption, modification of the
competitive environment.
Opportunity: increase in margins and greater scope of investment
as a result of the transition in terms of greater penetration of new
electricity technologies for residential consumption and electric
transport. Risk: Increased competition and possible decrease in
market share.
Considering two alternative transition
scenarios, the Group evaluates the effects
of trends in the increase of renewable
sources on the energy mix, electrification,
and the penetration of electric transport, to
evaluate their possible impacts.
Trends in the electrification of transport and
residential consumption will have a potential
impact on the business.
Opportunity: increase in margins and greater scope of investment
as a result of the transition in terms of greater penetration of new
electricity technologies for residential consumption and electric
transport. Risk: Increased competition and possible decrease in
market share.
Considering two alternative transition
scenarios, the Group assesses potential
opportunities to expand current businesses
in response to trends in transport
electrification.
Risk from exposure to power generation in conditions of high or
low hydraulics.
• Loss of margin
• Impact on the Company's liquidity.
• Loss of commercial competitiveness.
Risks inherent to the financial market, whether arising from the
volatility of interest rates and exchange rates; risks arising from
any restrictions on access to the financial market by the Company
or to meet the obligations assumed or the flow needs required
in the course of its business, such as liquidity and credit risks &
Counterpart; commodity risks that consider uncertainty in the
face of future market events, generated by the volatility of prices
and volumes of production, availability and demand for energy
commodities .
The speed of technological development, the increase in the
frequency and intensity of cyberattacks, as well as the tendency
to hit critical infrastructures and strategic industrial sectors
imply new challenges of potential risks related to cyberattacks
or data center failure or failure of ethical conduct in procedures,
causing business interruption or loss of confidentiality of personal
data, especially in the context of Enel that are integrated, data,
operations and people with interconnection of assets and
digitalization of operations.
Risk associated with non-compliance with the average frequency
of interruptions per customer (SAIFI) and the average interruption
time per customer (SAIDI), defined by the regulator.
• Loss of margin.
• Impact on the liquidity of the company.
• Loss of commercial competitiveness.
Hedging strategies, policies and procedures for risk management, monthly committees to monitor the portfolio
Creation of economic value
and market volatilities.
• Business interruption affecting image.
• Non-compliance with local regulations
regarding the protection of personal data.
• Continuous monitoring of vulnerability and threats to systems.
• Disseminate cybersecurity culture and data protection within the Company.
• Identify critical systems and protect them and contract insurance at the Enel Group level.
Innovation and digital transformation, strong governance, and fair
corporate conduct; commitment to customers; ecosystems and
platforms.
• Business interruption
• Image affected
• Financial losses due to fines and
compensation.
Maintenance plans are designed and implemented to reduce the likelihood of failures, quality plans to increase
backup, investment plans to increase capacity and network renewal.
Customer engagement and customer focus.
Risk arising from stakeholder demostrations
Business interruption, affecting operational
continuity.
Continuous territorial / community relationship to avoid and anticipate possible conflicts and contribute to the
Engagement with local communities, creation of economic value,
development of the community.
commitment to customers.
• Adopt best practices to manage the return to operations in the shortest possible time.
• Invest in asset resilience plans.
• There is a Loss Prevention Program due to Patrimonial Risks, including exhibitions linked to natural events.
Climate change/ adaptation to extreme weather events
• Looking ahead, assessments will also include the potential impacts of long-term trends on the most significant
and long-term climate scenarios. The Company advances both in the adaptation of its infrastructure, as well as
Climate change/ adaptation to extreme weather events
climate variables.
Geographical and technological diversification allows the impact of changes (positive and negative) on a
single variable to be mitigated. The management is carried out with permanent information of meteorological
phenomena, adopting a series of practices such as, for example, weather forecasts, real-time plant monitoring
in the adoption of mitigation plans or risks of obsolescence of it, through compliance with emergency plans, the
efficient use of resources, the monitoring of network performance and the analysis of events and failures that
allow to implement improvements and deliver solutions in a timely manner.
• Closure of coal plants.
• Investments in renewables, networks and customers allow to mitigate potential risks and take advantage of
opportunities related to the energy transition.
tables convened by the authority to explore national decarbonization scenarios in different countries in
environmental, economic, and social terms.
Maximization of opportunities through adopting a strategy aimed at energy transition andstrong development of
renewable generation, and the electrification of consumption.
Climate change/ adaptation to extreme weather events
The Group is maximizing opportunities thanks to its strong strategic positioning in new businesses and services
"beyond basic products and services".
Climate change/ adaptation to extreme weather events
The Group maximizes opportunities thanks to its strong strategic positioning in global networks.
Climate change/ adaptation to extreme weather events
Given the hydrological dependence, a commercial policy is defined to guarantee the contribution margin.
Creation of economic and financial value; Commitment to custo-
mers, decarbonization of the energy matrix.
116
Integrated Annual Report Enel Américas 2021
Impact
Risk
Type (Physical /
Transition)
Description
High
Climate change
Physical risks acute
Particularly extreme weather events in terms of intensity
High
Climate change
Chronic
or decrease in the production of renewables.
Physical risks
Increase or decrease in the demand for electrical energy; increase
have an impact on the business. Similarly,
High
Climate change
Transition risks
transition, greater scope for investment in renewable energies and
resilience can affect the volume and return
Policies on CO2 prices and emissions, incentives for energy
Policies related to energy transition and
regulation on resilience.
on investments.
Damage to physical assets and interruption
of operations.
Electricity demand is also influenced by
temperature, the fluctuations of which can
the generation of renewables is affected
by the availability of resources, whose
fluctuations can also impact the business.
Considering two alternative transition
scenarios, the Group evaluates the effects
of trends in the increase of renewable
sources on the energy mix, electrification,
and the penetration of electric transport, to
evaluate their possible impacts.
Opportunity: increase in margins and greater scope of investment
Considering two alternative transition
as a result of the transition in terms of greater penetration of new
scenarios, the Group assesses potential
transport. Risk: Increased competition and possible decrease in
in response to trends in transport
electrification.
• Loss of margin
market share.
market share.
low hydraulics.
Risks inherent to the financial market, whether arising from the
volatility of interest rates and exchange rates; risks arising from
any restrictions on access to the financial market by the Company
or to meet the obligations assumed or the flow needs required
in the course of its business, such as liquidity and credit risks &
Counterpart; commodity risks that consider uncertainty in the
face of future market events, generated by the volatility of prices
and volumes of production, availability and demand for energy
commodities .
The speed of technological development, the increase in the
frequency and intensity of cyberattacks, as well as the tendency
to hit critical infrastructures and strategic industrial sectors
imply new challenges of potential risks related to cyberattacks
or data center failure or failure of ethical conduct in procedures,
causing business interruption or loss of confidentiality of personal
data, especially in the context of Enel that are integrated, data,
operations and people with interconnection of assets and
digitalization of operations.
Risk associated with non-compliance with the average frequency
of interruptions per customer (SAIFI) and the average interruption
time per customer (SAIDI), defined by the regulator.
High
Commercial risk in
conditions of high or
low hydraulics
Stable
Financial and
commodity risks
Stable
Cyber incidents
Stable
Stable
Failure to comply
with SAIDI / SAIFI
Forced stoppage
because of social
demonstrations
Potential impacts
Mitigation
Material issue related with the materiality matrix
• Adopt best practices to manage the return to operations in the shortest possible time.
• Invest in asset resilience plans.
• There is a Loss Prevention Program due to Patrimonial Risks, including exhibitions linked to natural events.
• Looking ahead, assessments will also include the potential impacts of long-term trends on the most significant
climate variables.
Geographical and technological diversification allows the impact of changes (positive and negative) on a
single variable to be mitigated. The management is carried out with permanent information of meteorological
phenomena, adopting a series of practices such as, for example, weather forecasts, real-time plant monitoring
and long-term climate scenarios. The Company advances both in the adaptation of its infrastructure, as well as
in the adoption of mitigation plans or risks of obsolescence of it, through compliance with emergency plans, the
efficient use of resources, the monitoring of network performance and the analysis of events and failures that
allow to implement improvements and deliver solutions in a timely manner.
• Closure of coal plants.
• Investments in renewables, networks and customers allow to mitigate potential risks and take advantage of
opportunities related to the energy transition.
• Active contribution in the definition of public policies through advocacy activities. Participation in dialogue
tables convened by the authority to explore national decarbonization scenarios in different countries in
environmental, economic, and social terms.
Climate change/ adaptation to extreme weather events
Climate change/ adaptation to extreme weather events
Climate change/ adaptation to extreme weather events
High
Climate change
Transition risks
the energy mix, changes in retail consumption, modification of the
Changes in the prices of raw materials and energy, evolution of
competitive environment.
Maximization of opportunities through adopting a strategy aimed at energy transition andstrong development of
renewable generation, and the electrification of consumption.
Climate change/ adaptation to extreme weather events
High
Climate change
Transition risks
electricity technologies for residential consumption and electric
residential consumption will have a potential
transport. Risk: Increased competition and possible decrease in
impact on the business.
Opportunity: increase in margins and greater scope of investment
as a result of the transition in terms of greater penetration of new
Trends in the electrification of transport and
The Group is maximizing opportunities thanks to its strong strategic positioning in new businesses and services
"beyond basic products and services".
Climate change/ adaptation to extreme weather events
High
Climate change
Transition risks
electricity technologies for residential consumption and electric
opportunities to expand current businesses
The Group maximizes opportunities thanks to its strong strategic positioning in global networks.
Climate change/ adaptation to extreme weather events
Risk from exposure to power generation in conditions of high or
• Impact on the Company's liquidity.
• Loss of commercial competitiveness.
Given the hydrological dependence, a commercial policy is defined to guarantee the contribution margin.
Creation of economic and financial value; Commitment to custo-
mers, decarbonization of the energy matrix.
• Loss of margin.
• Impact on the liquidity of the company.
• Loss of commercial competitiveness.
Hedging strategies, policies and procedures for risk management, monthly committees to monitor the portfolio
and market volatilities.
Creation of economic value
• Business interruption affecting image.
• Non-compliance with local regulations
regarding the protection of personal data.
• Continuous monitoring of vulnerability and threats to systems.
• Disseminate cybersecurity culture and data protection within the Company.
• Identify critical systems and protect them and contract insurance at the Enel Group level.
Innovation and digital transformation, strong governance, and fair
corporate conduct; commitment to customers; ecosystems and
platforms.
Risk arising from stakeholder demostrations
Business interruption, affecting operational
continuity.
Continuous territorial / community relationship to avoid and anticipate possible conflicts and contribute to the
development of the community.
Engagement with local communities, creation of economic value,
commitment to customers.
• Business interruption
• Image affected
• Financial losses due to fines and
compensation.
Maintenance plans are designed and implemented to reduce the likelihood of failures, quality plans to increase
backup, investment plans to increase capacity and network renewal.
Customer engagement and customer focus.
Strategy and Risk Management 117
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Impact
Risk
Type (Physical /
Transition)
Description
Potential impacts
Mitigation
Material issue related with the materiality matrix
Stable
People
Inability to attract, retain and develop suitably qualified and
engaged people.
• Not having the necessary skills for the
development of strategic and operational
activities.
• Promote development to manage the
energy transition, characterized by a strong
technological impulse. • The presence of new
professional profiles and competencies is
required, as well as an important cultural and
organizational change.
• Organizations must move towards new, agile,
and flexible business models.
• Policies to improve diversity and the
management and promotion of talent
become key elements in companies that are
managing profound changes.
Stable
Ethics and
compliance
The Group operates in markets characterized by high levels
of perceived corruption, according to indicators published
by Transparency International. The needs of the distribution,
generation and sales business, and the high outsourcing
of services, create an exposure to compliance risks for the
Company, in relation to what is established in the anti-corruption
legislation and liability of legal entities defined in each country of
the region, increased risk of fraud against the Company, as well
as the risk of fines or penalties against bribery and corruption, in
the event that employees or third parties it hires do not comply
with the requirements of the anti-bribery and corruption law.
• Significant sanctions (fines, penalties,
prohibitions), which can lead to the
dissolution of the legal entity or the
prohibition of maintaining contracts with
public administration.
• Reputational impact for the company.
• Relevance of the legal efforts (time,
resources) necessary to protect the Group's
companies.
Stable
Health and Safety
of own staff and
contractors
The main risks are those derived from the performance of
operational activities in the Company's plants and infrastructure
and during the last year with those of COVID infections. Violation
of compliance with laws and regulations and procedures in force
in the field of health and safety, workplaces, the management
of structures, assets and administrative processes, which can
have a negative impact on the health conditions of employees,
contractors and stakeholders.
Stable
Energy affordability
Stable
End-use and
demand efficiency
An objective of regulated power companies is to provide reliable,
affordable, and sustainable electricity. The Group is tasked with
managing these priorities to maintain favorable relationships
with customers and regulators and ultimately to reap the
corresponding shareholder benefits. Likewise, the Group works on
the application of tariffs that allow to achieve a balance between
the costs and the underlying economy of the consumers, with the
necessary investment to guarantee the quality and reliability of
the service.
Energy efficiency is key to moving towards net-zero emission
savings, allowing the optimization of the use of resources that
translates, on the one hand, into lower costs for customers by
adopting more responsible consumption habits, as well as for
companies that reduce their energy demands at higher cost
times. The Group, as part of its energy transition strategy, directs
its investments towards the digitalization and platformization of its
services in order to enable energy efficiency and the conservation
of the energy of its customers, which is materialized, for
example, through projects such as investment in smart metering
technologies (Smart Meters) or demand response systems
(Demand Response)
118
Integrated Annual Report Enel Américas 2021
• Physical damage to our workers (including
fatal events or ACLs)
• Decreased personal commitment•
Stoppage of operations
• Efficiency and productivity
• Fines
• Reputational impact for the company
• Social unrest due to high and unaffordable
rates that affect the less favored sectors,
which in turn leads to an increase in
customer debt, decreasing the Company's
cash flow and increasing energy losses due
to theft, harming the Company's results.
• Risk of changes in the regulation that seek
to favor vulnerable customers, such as the
creation of measures of non-suspension
of electricity service in the absence of
payment. Additionally, the regulator could
lower the profitability included in the tariffs.
• Abandonment or reduction of dependence
on the grid by customers, who will look for
other alternative energy sources, delaying
the electrification of energy consumption.
• Potential impacts on the Company's results
and on the treatment of tax income, as
the tax authority does not recognize the
deduction of losses derived from energy
theft.
• Political manipulation and disinformation
due to issues of tariffs, operation and socio-
environmental management
• Non-recognition in the regulated rate of
investment in energy efficiency projects.
• Energy purchases at peak times, increasing
the cost of purchases with a negative
impact on the results of energy distribution
entities.
• Delay in introducing technology to reduce
energy consumption due to regulations (e.g.
voluntary smart meter).
• Training and development plans aimed at training leaders who have the necessary skills to guarantee adequate
operational management and transformation processes.
• Technical training programs for improvement in specific activities.
• Promotion of training plans in digital skills.
• Development of team integration actions and listening with employees to reinforce the commitment and
identification with the Company.
(work-life balance).
aligned with the Group's values.
• Diversity policies that guarantee equal opportunities and encourage integration.
• Exhaustive search and selection processes that guarantee hiring of personnel with the necessary skills and
• Proactivity in the realization of actions of care for people and their health, promoting an adequate balance
Management, development, and motivation of people.
• 'Tone from the Top' messages from senior management and commitment of the boards / boards of the Group
companies in the Region.
all external suppliers.
• Code of business conduct and adoption of compliance / integrity programs, with specific policies and
procedures to address the areas at risk in the Company's processes.
• Education, training and awareness campaigns on commercial compliance for all own employees, as well as for
• Definition of a compliance officer by the board / council, which reports independently regarding the review
activities and operation of the adopted compliance model.
• Definition and implementation of a compliance program that begins from the evaluation of the compliance risks
for the Company, and that is subject to periodic review of these evaluations, also as a result of the audits and
• Adopting a whistleblowing channel, which guarantees the confidentiality and anonymity of notifiers.
• Third-party risk verification program, to guarantee the necessary due diligence on the good repute profile of
counterparties working with the Group in all processes.
• Specific contractual standards that include the obligations of counterparties to respect the principles and
values defined in the code of ethics, zero tolerance with corruption plan, criminal risk prevention model, human
rights policy.
Companies in the region.
• Internal audits, reviews and testing, continuous monitoring to verify the effective functioning of the
implemented compliance program , and reporting of the results to the boards / councils of the Group
• Independent certification of the solidity of the compliance programs adopted by the companies (ISO 37001,
Strong governance and fair corporate conduct.
verifications carried out.
MPRP Certification Pro-Ethics program, etc.).
• Health and safety strategy, policies, procedures, and governance
• ISO 45.001 Management Systems
• Supplier evaluation processes
• COVID measures
• Reputational impact for the company
Health and safety; management, development, and motivation of
people; sustainable supply chain.
• Accompany the Government's initiatives to reduce energy poverty, close gaps between different consumer
groups and provide a better service, through proposals and projects such as logistics and service networks
(isolated solutions), digitalization and smart metering.
• Permanent information campaigns aimed at communicating to customers the issues associated with billing,
their cycles and tariff changes that may arise, development of dissemination days to the different stakeholders
on energy, its safe, legal, efficient use and on how to access our services; community information days when
there are massive effects on the service.
• Face-to-face sessions, information in the service offices, virtual channels and by messages on the bill.
• Publicize the different plans and programs of social responsibility and sustainability where we provide the
energy service, based on our vision of creating shared value and that seek to improve the living conditions of our
customers and the development of the areas.
Commitment to the customer
• Modernization of networks and implementation of advanced measurement systems with pedagogical
campaigns that allow in the future an active participation of demand, hourly tariff baskets, bidirectional energy
flows, free choice of marketer, among others. This modernization also contributes to the reduction of energy
losses and an improvement in the service quality. • Investment in digitalization of the service.
• The Enel Group offers services such as demand response or smart metering systems.• Internal audit processes
of energy efficiency projects, for the prior analysis of compliance with the requirements of the procedure of
Commitment to the customer
the energy efficiency programs, as well as the realization of the necessary adjustments for the adequacy of the
projects and continuous improvement of the processes.
safe, legal, efficient use and how to access our services.
• Permanent information campaigns aimed at communicating to customers the issues associated with energy, its
Impact
Risk
Type (Physical /
Transition)
Description
Potential impacts
Mitigation
Material issue related with the materiality matrix
Stable
People
engaged people.
Inability to attract, retain and develop suitably qualified and
required, as well as an important cultural and
• Not having the necessary skills for the
development of strategic and operational
activities.
• Promote development to manage the
energy transition, characterized by a strong
technological impulse. • The presence of new
professional profiles and competencies is
organizational change.
• Organizations must move towards new, agile,
and flexible business models.
• Policies to improve diversity and the
management and promotion of talent
become key elements in companies that are
managing profound changes.
Stable
Ethics and
compliance
The Group operates in markets characterized by high levels
of perceived corruption, according to indicators published
by Transparency International. The needs of the distribution,
generation and sales business, and the high outsourcing
of services, create an exposure to compliance risks for the
Company, in relation to what is established in the anti-corruption
legislation and liability of legal entities defined in each country of
the region, increased risk of fraud against the Company, as well
as the risk of fines or penalties against bribery and corruption, in
the event that employees or third parties it hires do not comply
with the requirements of the anti-bribery and corruption law.
• Significant sanctions (fines, penalties,
prohibitions), which can lead to the
dissolution of the legal entity or the
prohibition of maintaining contracts with
public administration.
• Reputational impact for the company.
• Relevance of the legal efforts (time,
resources) necessary to protect the Group's
companies.
Stable
Health and Safety
of own staff and
contractors
The main risks are those derived from the performance of
operational activities in the Company's plants and infrastructure
and during the last year with those of COVID infections. Violation
of compliance with laws and regulations and procedures in force
in the field of health and safety, workplaces, the management
of structures, assets and administrative processes, which can
have a negative impact on the health conditions of employees,
contractors and stakeholders.
Stable
Energy affordability
An objective of regulated power companies is to provide reliable,
affordable, and sustainable electricity. The Group is tasked with
managing these priorities to maintain favorable relationships
with customers and regulators and ultimately to reap the
corresponding shareholder benefits. Likewise, the Group works on
the application of tariffs that allow to achieve a balance between
the costs and the underlying economy of the consumers, with the
necessary investment to guarantee the quality and reliability of
the service.
• Physical damage to our workers (including
fatal events or ACLs)
• Decreased personal commitment•
Stoppage of operations
• Efficiency and productivity
• Fines
• Reputational impact for the company
• Social unrest due to high and unaffordable
rates that affect the less favored sectors,
which in turn leads to an increase in
customer debt, decreasing the Company's
cash flow and increasing energy losses due
to theft, harming the Company's results.
• Risk of changes in the regulation that seek
to favor vulnerable customers, such as the
creation of measures of non-suspension
of electricity service in the absence of
payment. Additionally, the regulator could
lower the profitability included in the tariffs.
• Abandonment or reduction of dependence
on the grid by customers, who will look for
other alternative energy sources, delaying
the electrification of energy consumption.
• Potential impacts on the Company's results
and on the treatment of tax income, as
the tax authority does not recognize the
deduction of losses derived from energy
theft.
• Political manipulation and disinformation
due to issues of tariffs, operation and socio-
environmental management
• Training and development plans aimed at training leaders who have the necessary skills to guarantee adequate
operational management and transformation processes.
• Technical training programs for improvement in specific activities.
• Promotion of training plans in digital skills.
• Development of team integration actions and listening with employees to reinforce the commitment and
identification with the Company.
• Proactivity in the realization of actions of care for people and their health, promoting an adequate balance
(work-life balance).
• Diversity policies that guarantee equal opportunities and encourage integration.
• Exhaustive search and selection processes that guarantee hiring of personnel with the necessary skills and
aligned with the Group's values.
• 'Tone from the Top' messages from senior management and commitment of the boards / boards of the Group
companies in the Region.
• Code of business conduct and adoption of compliance / integrity programs, with specific policies and
procedures to address the areas at risk in the Company's processes.
• Education, training and awareness campaigns on commercial compliance for all own employees, as well as for
all external suppliers.
• Definition of a compliance officer by the board / council, which reports independently regarding the review
activities and operation of the adopted compliance model.
• Definition and implementation of a compliance program that begins from the evaluation of the compliance risks
for the Company, and that is subject to periodic review of these evaluations, also as a result of the audits and
verifications carried out.
• Independent certification of the solidity of the compliance programs adopted by the companies (ISO 37001,
MPRP Certification Pro-Ethics program, etc.).
• Adopting a whistleblowing channel, which guarantees the confidentiality and anonymity of notifiers.
• Third-party risk verification program, to guarantee the necessary due diligence on the good repute profile of
counterparties working with the Group in all processes.
• Specific contractual standards that include the obligations of counterparties to respect the principles and
values defined in the code of ethics, zero tolerance with corruption plan, criminal risk prevention model, human
rights policy.
• Internal audits, reviews and testing, continuous monitoring to verify the effective functioning of the
implemented compliance program , and reporting of the results to the boards / councils of the Group
Companies in the region.
Management, development, and motivation of people.
Strong governance and fair corporate conduct.
• Health and safety strategy, policies, procedures, and governance
• ISO 45.001 Management Systems
• Supplier evaluation processes
• COVID measures
• Reputational impact for the company
Health and safety; management, development, and motivation of
people; sustainable supply chain.
• Accompany the Government's initiatives to reduce energy poverty, close gaps between different consumer
groups and provide a better service, through proposals and projects such as logistics and service networks
(isolated solutions), digitalization and smart metering.
• Permanent information campaigns aimed at communicating to customers the issues associated with billing,
their cycles and tariff changes that may arise, development of dissemination days to the different stakeholders
on energy, its safe, legal, efficient use and on how to access our services; community information days when
there are massive effects on the service.
• Face-to-face sessions, information in the service offices, virtual channels and by messages on the bill.
• Publicize the different plans and programs of social responsibility and sustainability where we provide the
energy service, based on our vision of creating shared value and that seek to improve the living conditions of our
customers and the development of the areas.
Commitment to the customer
Stable
End-use and
demand efficiency
Energy efficiency is key to moving towards net-zero emission
savings, allowing the optimization of the use of resources that
• Non-recognition in the regulated rate of
translates, on the one hand, into lower costs for customers by
investment in energy efficiency projects.
adopting more responsible consumption habits, as well as for
• Energy purchases at peak times, increasing
companies that reduce their energy demands at higher cost
the cost of purchases with a negative
times. The Group, as part of its energy transition strategy, directs
impact on the results of energy distribution
its investments towards the digitalization and platformization of its
entities.
services in order to enable energy efficiency and the conservation
• Delay in introducing technology to reduce
of the energy of its customers, which is materialized, for
energy consumption due to regulations (e.g.
example, through projects such as investment in smart metering
voluntary smart meter).
technologies (Smart Meters) or demand response systems
(Demand Response)
• Modernization of networks and implementation of advanced measurement systems with pedagogical
campaigns that allow in the future an active participation of demand, hourly tariff baskets, bidirectional energy
flows, free choice of marketer, among others. This modernization also contributes to the reduction of energy
losses and an improvement in the service quality. • Investment in digitalization of the service.
• The Enel Group offers services such as demand response or smart metering systems.• Internal audit processes
of energy efficiency projects, for the prior analysis of compliance with the requirements of the procedure of
the energy efficiency programs, as well as the realization of the necessary adjustments for the adequacy of the
projects and continuous improvement of the processes.
• Permanent information campaigns aimed at communicating to customers the issues associated with energy, its
safe, legal, efficient use and how to access our services.
Commitment to the customer
Strategy and Risk Management 119
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Technological components are increasingly integrated into the digital life of the business world, while at the same time cyber
threats inherent in each of those environments become more frequent and sophisticated. For this reason, cybersecurity has
become a global issue and one of the pillars on which the Group's digitalization strategy has been built.
Cybersecurity is developed in coordination with the functions of Personal Data Protection, Information Security and Digital
Services
Personal data protection
The General Data Protection Regulation (GDPR)
implemented by the European Union, in addition to the
new Brazilian General Data Protection Law (LGPD) Law
No. 13.709/18, and the Law on the Protection of Privacy
(Law No. 19628), impose compliance obligations on the
Enel Group by establishing a Data Protection Office,
which has, as part of the main requirements, professional
autonomy and independence.
Although in Latin America the aforementioned regulation
is not applicable, the Company has decided to raise the
standards of protection of personal data in each of the
companies where the Group is present, in order to go
beyond what the local regulation provides.
This is how in 2019 (in Brazil) and 2020, Enel Américas
began working on the implementation of a compliance
model that provides for the figure of a Data Protection
Officer (DPO), who repor ts directly and works in
coordination with the DPO holding office.
The Governance Model for Personal Data Protection
provides for assigning roles and responsibilities in this
area to the first and second line of each company,
for the secure management of personal data and the
applications that process such data, as well as the
monitoring in the registration of all data processing
carried out by the Enel Group. Compliance with security
and data protection policies and controls apply to all
Enel Américas’ employees and third party contractors.
Data processing that presents the most risks is the
subject of a data protection impact assessment, carried
out through methodologies designed using international
standards and in accordance with local law.
The DPO supports the Chief Executive Officer and
businesses so that processes and operations comply
with privacy by design and by implementation. It also
establishes the policies and operational instructions
for the protection of personal data, including data
protection in the codes of conduct and security
measures regarding third parties to whom Enel Américas
delegates the management of personal data; it is
responsible for the contractual design, so that privacy
rules are included, the regulation of cookies and it
manages security incidents affecting personal data
in conjunction with the cybersecurity and information
security functions. It also established the channels of
attention for the implementation of law by personal
data holders. Additionally, new and modern compliance
platforms in data protection were developed to
guarantee and show compliance with the legislation by
the organization.
Using this function, training and dissemination activities
are carried out for the Company in the area of personal
data protection in addition to acting as a point of
contact for the management of claims and orders of
personal data holders and the data protection authorities
and the Company
120
Integrated Annual Report Enel Américas 2021
Security of information
Enel SpA is a multinational energy company and one of the
world's leading integrated gas and electricity operators.
The Group is present all over the world with a complex and
organized structure of people and machinery constantly
exchanging sensitive data. Changes in technology and the
energy landscape, increasingly characterized by numerous
small renewable plants interconnected and geographically
distributed with data stored in the cloud, represent
opportunities to make improvements in the system.
Cyber risk is a business risk, but in the complex electricity
sector it takes on a different proportion in terms of risk for
the entire ecosystem. Cyber resilience is a challenge for all
organizations, but it is of particular importance for the electric
ecosystem. In such a complex scenario, for example, a large-
scale blackout would have socioeconomic ramifications on
households, businesses, and vital institutions.
All companies, even more so in the case of the energy
sector, are part of a much more complex and interconnected
ecosystem, where organizations exchange information and
use common critical services, components, and systems.
Regulations and laws that provide common guidelines must
keep up with the continued evolution of cyber risks.
Therefore, cooperation on cyber issues becomes paramount
for all the stakeholders: whether it is companies, legal or
supervisory bodies, suppliers, customers, or employees.
In this context, the Company acts with an integrated vision
in all projects, implementing joint actions with all interested
parties that can guarantee designs of secure environments,
both at the technical level and at the level of data protection.
Strategy and Risk Management 121
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The Enel Group has put in place a holistic and systemic
model to develop and manage cybersecurity, which covers all
the companies that are part of the Group. This is promoted
by senior management and has the real participation of all
corporate business areas and those responsible for the
design, management, and operation of computer systems.
Similarly, as part of the Enel Group, the Company has
set up a Global Cybersecurity Unit that reports directly
to the CIO (Chief Information Officer) through the CISO
(Chief Information Security Officer), so as to speed up the
decision-making process at a global level, in a context in
which response time is crucial.
The cybersecurity governance model has the commitment of
the senior management and global strategic management.
It also establishes the need to use world-class technologies,
design ad-hoc business processes, increase cybersecurity
awareness in people, and transpose regulatory cyber
requirements.
(IT/OT/IoT), which identifies, prioritizes, and quantifies the cyber
security risks related to the use of such systems. Its final goal
is to identify and adopt the most appropriate security actions
for its minimization and mitigation. Therefore, in line with
this methodology, Enel Américas identifies the information
systems that require such a risk analysis, based on what
appropriate mitigation actions are established depending
on the typology and severity of the risk.
Furthermore, adopting a global "cybersecurity by design"
approach makes it possible for the activities of a computer
project to focus on cybersecurity issues from the initial
design stages and implementation of computer systems,
in order to increase their resilience to cyber-attacks.
Enel Américas, as par t of the Enel Group, shares
cybersecurity best practices and operating models and
contributes to establishing guidelines, standards and
regulations with private organizations, institutions, and
academies.
A "risk-based" model makes risk analysis the basic step of
all strategic decisions. Since 2017, a cyber risk management
model has been applied, valid for the entire Enel Group
and, therefore, for Enel Américas. This model is based on a
methodology that applies to all types of computer systems
The Enel Group has set up the CERT (Cyber Emergency
Readiness Team and its Control Room) team, dedicated to
managing possible cyber incidents in all the areas, including
Enel Américas while cooperating with the national and
international communities.
IDENTITY
MANAGEMENT AND
ACCESS CONTROL
CYBERSECURITY
STRATEGY
CYBERSECURITY
AWARENESS AND
TRAINING
CYBERSECURITY RISK
ASSESMENT
Risk Focus
Cybersecurity
Design
CYBERSECURITY
INSURANCE
ADDRESSING
CYBERSECURITY RISKS
REACTING IN CYBER
EMERGENCIES
CYBERSECURITY
ENGINEERING, DESIGN AND
IMPLEMENTATIONN
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Integrated Annual Report Enel Américas 2021
The CERT is active in national communities through the
membership in nine national CERTs. It also collaborates
with Trusted Introducer, a network of 445 CERT ìs present
in 73 countries, and, since 2018 with "FIRST", the largest
collaboration community in the sector, with more than 602
members from 99 countries.
When CERT detects any type of risk or incident to
information security, it analyzes and classifies it according
to its severity and the Group's impact matrix. When the
incident generates a crisis situation that affects the
continuity of the business, the profitability of the Company
or its reputation, Enel Américas immediately carries out the
necessary actions, in accordance with the existing policies
on crisis management and security emergencies.
The CERT is characterized by its ability to:
• Prevent, detect, and respond to cybersecurity incidents
(Cyber Incident Response), that is to say, a process during
which the CERT and internal stakeholders communicate
by implementing a systematic and structured approach
to incident management.
• Access Cyber Threat Intelligence, through the collection
and management of detailed information regarding cyber
threats, events, and incidents, that is, a process aimed
at finding/detecting inside information and translating
it into actions to avoid, mitigate or manage a possible
security event.
• Exchange information and collaborate with all the players
necessary to manage a cybersecurity incident, in a context
Strategy and Risk Management 123
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principle "of trust" in the information to be exchanged,
that is, in accordance with the principles of "need to share"
and "need to know" of the different actors involved.
The main activities carried out in 2021, in the various areas
of cybersecurity included:
• CERT: continued the Enel Group's perimeter protection
methods, both through the improvement of technological
solutions in the field (Machine Learning) and through the
continuous training aimed at employees of industrial sites
(cyber exercises).
• Awards and participations: as part of the Enel Group,
the Company actively contributes to the development
of the international cyber ecosystem by collaborating
with international organizations, communicating with
the academic and institutional world, technological
alliances, participating in institutional events and through
interventions in international congresses. The intense
collaboration network permits the company to act
positively throughout the ecosystem, in particular in the
supply chain, to:
− Contribute to the definition of standards, regulations,
and guidelines.
− Develop and strengthen channels for "information
sharing”.
− Promote cybersecurity culture and training.
− Support open innovation.
− Share best practices and operating models.
• In 2021, Enel Américas contributed, among other various
activities, to the drafting of cybersecurity regulations and
laws that emerged around the world, providing feedback
in public consultations. The main driver promoted by Enel
SpA was the harmonization of the current cybersecurity
legislation landscape, the resilience of the cyber
ecosystem by implementing a risk-based approach and
the principle of security by design.
• Training, education, and awareness cybersecurity:
− Training, to increase cybersecurity skills required in the
professional field. In 2020, the Cyber Security Unit began
to prepare cybersecurity courses (Cyber School) aimed at
the entire population of the Enel Group. The first edition
of these courses was via a virtual classroom (some already
given in 2020, the rest in 2021). In 2021, these courses
were redesigned to offer them in e-learning mode, so that
they can become a constant and always usable initiative
offering a complete route of awareness that promotes
internal capacities on strategic issues, thus directing
possible upskilling and reskilling needs.
− Awareness aimed at all people in the Enel Group, as well
as Enel Américas, to reduce cybersecurity risks linked
to the human factor. In 2021, TheRedPill Group tool was
launched, which, by providing different functionalities
(challenges, better known as "challenges", simulated
phishing campaigns and other content on a vast
typology of cybersecurity issues) strengthens, supports,
and accompanies the entire Enel population.
• Knowledge Assessment: used to assess the baseline of
cyber risks, identifying strengths and weaknesses to better
guide and calibrate awareness initiatives.
• Simulated phishing campaigns: by sending simulated
phishing emails (which have similar dangers to the
malicious ones), Enel’s population is able to recognize
the characteristics of the real ones.
• Awareness Assignation: used to teach people awareness
courses and informative content to gradually increase
knowledge in cybersecurity aspects.
• The Global Intranet is another vehicle used to disseminate
communications and information on cybersecurity issues
(e.g., specific news, interviews, videos).
Similarly, the Company continued its awareness actions on
cybersecurity at a global level were continued. Since 2019,
the Enel Group has maintained cybersecurity risk insurance
for cyber risk mitigation.
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Integrated Annual Report Enel Américas 2021
Strategy and Risk Management 125
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Group’s
Business
Sector regulation and operation of the
electricity system
The sector is a regulated industry in the countries
where the Company operates. The Governments are
responsible for proposing and conducting public policies
on energy, enhancing coordination and facilitating a
comprehensive view of the sector.
Generation and transmission business
Renewable energy generation represents the best option
to sell energy to customers in the future. Therefore, it
is better positioned to provide greater value not only as
a project at the individual level, but also throughout the
entire production chain, offering customers the benefits
of such an integrated position. The electric power
transmission business is mainly carried out through an
interconnection line between Argentina and Brazil. This
is done through Enel Cien.
Distribution Business
The Enel Americas Group participates in the electricity
distribution business through subsidiaries in Argentina,
Brazil, Colombia, and Peru.
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Enel Américas Group´s Business 127
Enel Américas Group’s Business
Costa Rica
Costa Rica had a 7.6%, GDP increase mainly explained by the
strong effect of COVID-19 on the economy during 2020. In
line with global trends, the country saw a 3.3% inflation and
the unemployment rate dropped to 13.7%.
Guatemala
Guatemala's GDP increased by 7.5%, largely due to the
recovery of the economy stemming from the COVID-19
effects in 2020. The economy reached a 3.1% inflation and
closed the year with a monetary policy rate of 1.75%.
Panama
Panama's GDP recovered strongly in 2021, with a 15.5%
growth mainly due to the strong effect of the COVID-19
pandemic on its economy during 2020. The country saw
inflation rates accelerate to 2.6% and closed the year with
a 13.4% unemployment rate.
Peru
The Peruvian economy recovered strongly in 2021, with a
13.3% GDP increase, mainly explained by the quarantines that
affected the country's mining activity during 2020. Peru was
also hit by the volatility of an election year, with the Peruvian
nuevo sol devaluing to PEN4.0015 per dollar at year-end.
Like the rest of the countries in the region, Peru saw an
acceleration of its inflation, reaching 7.0%, and its reference
interest rate closing the year at 0.50%.
Macroeconomic environment
Macro-context
The international macroeconomic scenario in 2021 was again
marked by the COVID-19 pandemic, with a rebound from
the economic slowdown observed in 2020, in addition to
accelerated inflation worldwide. The U.S. economy expanded
by 5.7%. During the year, the US Federal Reserve System
(Fed) maintained the interest rate at 0.25%. The same trend
can be observed in South America, where the economic
recovery was observed through different measures in the
countries’ economies, ending 2021 with a 6.3% increase.
Argentina
Argentina experienced a 10.3%, GDP increase marked by an
economic recovery as compared to 2020, a year strongly
affected by the COVID-19 pandemic. Additionally, the year
was marked by the acceleration of the inflation rate, reaching
50.9% and a 38% benchmark interest rate.
Brazil
Brazil's GDP grew by 4.6% in 2021, as a result of the
economic recovery due to the strong effects of the
COVID-19 pandemic in 2020. The Brazilian real also
registered a considerable devaluation, reaching BRL5.5758
per dollar at the end of the year. Like the vast majority of
economies globally, inflation accelerated significantly,
reaching 10.1% and an interest rate that stood at 9.25%, its
highest value since 2017.
Colombia
The Colombian economy had a significant 10.3% GDP
increase as a result of economic recovery as compared
to 2020, a year strongly affected by the pandemic and an
increase in oil prices globally. The year was marked by a
5.6% inflation and a 3.00% interest.
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Integrated Annual Report Enel Américas 2021
Regulatory framework
The electricity sector, due to its nature as a basic service to be provided to the Company, is highly regulated by each of the
states in which Enel Americas operates. However, there are specific characteristics related to laws and authorities, and certain
specific definitions of limits that define a free or regulated customer detailed in Note 4 Regulation Sector and Operation of
the Electricity System, of the Consolidated Financial Statements of Enel Américas S.A. and Subsidiaries incorporated in this
Integrated Report, the general characteristics that regulate the Electricity sector in each of the countries in which we operate
are the following:
Three activities can fundamentally be distinguished in the electrical industry: Generation, Transmission and Distribution. The
electrical installations associated with them have an obligation to operate in an interconnected and coordinated manner,
with the main objective of providing electricity to the market at the minimum cost and within the standards of service quality
and safety by electricity regulations.
Generation Segment
legislation. Tariffs are regulated and access must be open
and guaranteed under non-discriminatory conditions.
The generators supply electricity to end customers
through transmission lines and substations that belong to
transmission and distribution companies.
Distribution Segment
The generation segment operates competitively and
does not require a concession granted by the authorities.
Generators can sell their power to unregulated customers
and other generators through contracts at freely negotiated
prices.
The distribution segment corresponds to electrical
installations intended for the supply of electricity to end
customers. The distribution segment is a natural monopoly
also subject to special industrial regulations, including
antitrust legislation.
They can also sell to distribution companies to supply
regulated customers through contracts governed by tenders
defined by the authorities.
The operation of electricity generating companies is
coordinated by state agencies that define efficiency criteria.
The producer of the lowest available cost is usually required
to meet demand. Any surplus or deficit between its sales to
customers and its production is sold or bought from other
generators at the spot market price.
Transmission Segment
Transmission companies own lines and substations that
flow from the production points of the generators to the
consumption or distribution centers, charging a regulated
toll for the use of their facilities.
The transmission segment is a natural monopoly, subject
to special industrial regulations, including antitrust
Distribution companies operate under a public service
concession regime and must provide service to all customers
and supply electricity to customers subject to regulated
tariffs. Customers with a free tariff can negotiate their supply
with any supplier, having to pay a regulated toll for use of
the distribution network.
The possibility of being a free client will depend on the
volume of sales made to customers and this limit varies
according to the regulations established in each of the
countries where the Company operates.
For more details on regulatory issues, review in Annexes
the Consolidated Financial Statements of Enel Americas
as of December 31, 2021, Note 4 "Sectoral Regulation and
Operation of the Electricity System".
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Enel Américas’ consolidated operations
Through its subsidiaries, Enel Américas carries out its
business in electricity generation, transmission, and
distribution, with presence in Argentina, Brazil, Colombia and
Peru, countries recently joined by Costa Rica, Guatemala and
Panama where the Company participates in the generation
business after the incorporation of Enel Green Power
Américas as of April 1, 2021.
The Company is one of the largest private electricity
companies in Latin America, adding an installed capacity
of 15,926MW as of December 31, 2021, and supplying more
than 26.2 million customers.
The following diagram presents a summary of the main
operations for each of the business areas of the electricity
sector in which the Company participates, as well as the
countries where it operates:
Argentina
Brazil
Colombia
Peru
Costa Rica
Guatemala
Panama
Generation
Renewable
Thermal
Transmission
Distribution
The activities carried out by Enel Américas were grouped considering the aggregation of operating segments that have similar
economic indicators common to all the countries in which the Company operates.
Electricity generation and transmission
The electric power generation and transmission segment
is made up of a group of electricity companies that own
generation plants and whose energy is transmitted and
distributed to end consumers.
The electric power transmission business is mainly carried
out through an interconnection line between Argentina and
Brazil. This is done through Enel Cien, a subsidiary of Enel
Brasil, with a transport capacity of 2,200MW.
The electric power transmission activity is highly regulated,
so the participation in the interconnection of Argentina and
Brazil, through Enel Cien, is a strategic activity within the
Company’s business, its revenues representing 0.3% of the
Group's consolidated income.
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Integrated Annual Report Enel Américas 2021
Installed capacity
Enel Américas has operating subsidiaries in the generation
business in Argentina, Brazil, Colombia, Peru, Costa Rica,
Guatemala, and Panama. Its net installed capacity totaled
15,926MW as of December 31, 2021, of which 10,920MW
corresponded to renewable sources and 5,006MW to thermal
sources. The segmentation of the business between the
generation of renewable sources – such as hydroelectric,
wind and solar – and that of non-renewable sources – such as
thermal – is natural in the electricity industry, since the variable
costs of generation are different for each form of production
and it is also due to the Company's commitment to achieve
energy transition oriented towards its constant contribution
to the combat against climate change. The generation of
non-renewable sources requires fossil fuels, while that of
renewable sources depends on natural resources such as
water from reservoirs and rivers, wind, and solar energy.
Therefore, the commercial policy that the generator defines
is relevant for the proper management of the business.
As a result of the incorporation of Enel Green Power Américas
and the commencement of subsequent renewable projects
until December 31, 2021, the installed capacity of renewable
sources grew by 74.7%, involving a 41.3% increase in total
installed capacity according to the following detail:
Installed Capacity
Actual
Growth
Renewable
No renewable
Total
Renewable
No renewable
Total
1,328 MW
3,091 MW
4,419 MW
-
4,659 MW
319 MW
4,978 MW
350.1 %
3,183 MW
406 MW
3,589 MW
2.8 %
1,104 MW
1,190 MW
2,294 MW
39.4 %
646 MW
-
646 MW
-
10,920 MW
5,006 MW
15,926 MW
74.7 %
Argentina
Brazil
Colombia
Peru
Central America
Total
-
-
-
-
-
-
-
267.6 %
2.4 %
15.3 %
-
41.3 %
The composition of the Group's installed capacity by technology type as of December 31, 2021, is summarized in the following graph:
15.9GW
Installed
capacity
2021
69%
Renovable
Hydro
Wind & solar
CCGT
Petrol gas
Coal
44%
25%
10%
13%
1%
This new composition consolidates Enel Américas as the
largest private renewable energy generator in Latin America,
adjusting to the purpose of leading the region's energy
transition. This, in turn, is aligned with one of Company's
business strategy pillars.
At the same time, this composition permits to diversify the
risk associated with adverse hydrological conditions that
may affect the generating companies that operate based
on the availability of the water resource. The latter could
lead to purchases of electricity at higher prices in order to
meet the commitments made to customers.
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The following table shows Enel Américas' generation plants by country, company, net installed capacity, and technology
Installed Capacity
As of December 31,
Country/Company
(in MW)
Name of Plant
Type of plant
2021
2020
Argentina
Costanera
El Chocón
Dock Sud
Total installed capacity in Argentina
Brasil
Cachoeira Dourada
EGP Volta Grande
Fortaleza
Enel Brasil
Steam Turbine Costanera
Combined Cycle II Costanera
Combined cycle I Buenos Aires
Total Costanera
Chocón
Arroyito
Chocón TG
Total El Chocón
Dock Sud CC
Dock Sud TG
Total Dock Sud
Cachoeira Dourada
Volta Grande
Fortaleza
Various
Various
Various
Total Enel Brasil
Steam turbine
/ natural gas +
petrol
Combined cycle
/ natural gas +
diesel
Combined cycle /
natural gas
Reservoir
Run-of-the-river
Diesel engines
(diesel + petrol)
Combined cycle
/ natural gas +
diesel
Gas turbine / na-
tural gas + diesel
Run-of-the-river
Run-of-the-river
Combined cycle
/ gas
Run-of-the river
and Reservoir
Solar
Wind
1,062
851
1,062
851
297
297
2,210
1,200
128
34
2,210
1,200
128
34
1,362
775
1,362
775
72
72
847
4,419
847
4,419
655
380
319
235
1,233
2,156
3,624
655
380
319
—
—
—
—
Total Installed Capacity in Brazil
4,978
1,354
Colombia
Emgesa
EGP Colombia
Total Installed Capacity in Colombia
Guavio
Betania
Quimbo
La Guaca
Paraíso
Termozipa
Cartagena
Dario Valencia
Smaller plants
Salto II
Total Emgesa
El Paso
Total EGP Colombia
Reservoir
Reservoir
Reservoir
Run-of-the-river
Reservoir
Steam turbine /
coal
Steam turbine /
natural gas
Run-of-the-river
Run-of-the-river
Run-of-the-river
Solar
1,260
540
400
324
276
226
1,260
540
400
324
276
225
180
184
150
112
35
3,503
86
86
3.589
150
112
35
3,506
—
—
3.506
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Integrated Annual Report Enel Américas 2021
Perú
Enel Generación Perú
Ventanilla
Chinango
Enel Generation Piura
EGP Peru
Total Installed Capacity Peru
Centroamérica
EGP Costa Rica
EGP Guatemala
EGP Panamá
Total Installed Capacity
Central America
Total Installed Capacity
Santa Rosa
Huinco
Matucana
Callahuanca
Moyopampa
Huampani
Her1
Total Enel Generation Peru
Chimay
Yanango
Total Chinango
Malacas
Combined cycle /
natural gas
Gas turbine /
diesel
Reservoir
Run-of-the-river
Run-of-the-river
Run-of-the-river
Run-of-the-river
Run-of-the-river
Reservoir
Run-of-the-river
Gas turbine / na-
tural gas + diesel
459
460
397
402
276
133
84
69
31
1
1.450
157
42
199
333
276
133
84
69
31
1
1.455
157
42
199
336
Total Enel Generation Piura
333
336
Rubi
Wayra I
Total EGP Peru
Chucas
Don Pedro
Rio Volcan
Total EGP Costa Rica
Occidente
Matanzas/San Isidro
Montecristo
Palo Viejo
Total EGP Guatemala
Enel Fortuna
Jaguito Solar
Progreso Solar
Generadora Solar Caldera
Sol Real Istmo
Generadora Estrella Solar
Llano Sanchez Solar Power Tres
Llano Sanchez Solar Power One
Llano Sanchez Solar Power Cuatro
PV Chiriqui
Total EGP Panamá
Solar
Wind
Reservoir
Run-of-the-river
Run-of-the-river
Run-of-the-river
Run-of-the-river
Run-of-the-river
Run-of-the-river
Reservoir
Solar
Solar
Solar
Solar
Solar
Solar
Solar
Solar
Solar
179
132
312
—
—
—
2.294
1.990
50
14
17
81
47
16
13
87
164
300
13
26
5
8
8
11
10
8
12
401
646
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
15.926
11.269
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Electricity generation and sale
As of December 31, 2021, electricity generation and sale totaled 48,739GWh and 71,254GWh, respectively, which means a
20.3%, and 20.5% growth respectively. The variations were explained by the incorporation of the Enel Green Power Américas
companies and the recovery of energy demand, mainly in Brazil. The details of these indicators are as follows:
Generation
Sales
2021
2020
Variation
2021
2020
Variation
13,099 GWh
13,901 GWh
(5.8) %
13,101 GWh
13,903 GWh
(5.8) %
10,987 GWh
4,823 GWh
127.8 %
26,396 GWh
17,532 GWh
50.6 %
13,209 GWh
14,009 GWh
(5.7 %)
17,686 GWh
17,539 GWh
0.8 %
9,338 GWh
7,722 GWh
20.9 %
11,434 GWh
10,258 GWh
11.5 %
2,106 GWh
-
-
2,637 GWh
-
-
48,739 GWh
40,455 GWh
20.5 %
71,254 GWh
59,232 GWh
20.3 %
Argentina
Brazil
Colombia
Peru
Central America
Total
Distribution
The Enel Américas Group participates in the electricity distribution business through its subsidiaries in Argentina, Brazil, Colombia,
and Peru. As of December 31, 2021, the Company sold 119,845GWh, with a 4.0% growth as compared to 2020, as a result of
the demand recovery in all the countries where the Company operates after overcoming the most critical part of the Covid-19
pandemic. It delivered energy to more than 26.2 million customers during the period, according to the following detail:
Sales
Custumers
2021
2020
Variation
2021
2020
Variation
16,735 GWh
15,888 GWh
5.3 %
2,549 Thou
2,508 Thou
1.6 %
80,382 GWh
77,913 GWh
3.2 %
18,431 Thou
18,062 Thou
2.0 %
14,598 GWh
13,834 GWh
5.5 %
3,709 Thou
3,615 Thou
2.6 %
8,130 GWh
7,578 GWh
7.3 %
1,491 Thou
1,456 Thou
2.5 %
119,845 GWh
115,213 GWh
4.0 %
26,180 Thou
25,641 Thou
2.1 %
Argentina
Brazil
Colombia
Peru
Total
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Integrated Annual Report Enel Américas 2021
An important part of the investments is focused on the distribution business, in order to develop another of the pillars of the
Company's business strategy. This considers moving towards an increasingly resilient, intelligent, and digitized distribution
network, which always keeps the customer at the center.
The compliance with this objective permits us to meet the service regulations established in each of the countries where
the Company operates and, additionally, serves as a vehicle to develop the necessary increase in electrification in the region.
The distribution business is highly regulated and operates on the basis of territory concessions granted by government
entities to distribution companies. Among other functions, government entities regulate the rates of the sale of electricity
and compliance with quality standards in the provision of the service. The main indicators related to these issues are:
SAIDI
(hours)
SAIFI
(frequency)
Energy
loss
%
Concession
area
Area (km2)
13.3
10.1
6.7
6.9
9.8
4.9
4.8
5.2
2.3
4.7
18.0
3,304
12.9
523,038
7.5
8.5
26,093
1,602
12.6
554,037
Next
tariff
review
Year
2023
2023
2024
2022
-
Argentina
Brazil
Colombia
Peru
Total
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Enel-X
Considering the context of climate change and the urgent
need for the world to reach net zero CO2 emissions, the
Enel Group decided to create and develop the subsidiary
Enel X on a global scale. The subsidiary is seen as a driving
force for change, capable of offering new advanced energy
products and services, to satisfy especially those customers
with a growing awareness regarding sustainability and the
efficient use of energy.
Enel X was set up under Enel's new strategy called "Open
Power", seeking to open energy to new uses, technologies,
partnerships, and services, to reach and have an impact on
more people through four business lines: e-City, e-Home,
e-Industries, and e-Mobility.
e-City
It seeks to transform the city to facilitate people's access to
increasingly useful services, developing technological solutions
related to lighting, security systems and energy efficiency,
through commercial links with various public entities.
e-Home
It seeks to transform homes to be safer and more efficient,
focused on the particular needs of each family. This is
done through innovative and efficient solutions with air
conditioning services, water heating, Led lighting, among
others. Similarly, the objective is to differentiate itself in the
B2C market for its high standards in the installation and
maintenance service.
e-Industries
It seeks to transform companies through comprehensive
projects, which include specialized advice, implementation,
and monitoring of each service within the B2B field. It
focuses on technologies related to energy efficiency,
distributed generation, electricity projects and demand
management, among others.
At the same time, it seeks to provide a differentiating value
to each company.
e-Mobility
It seeks to transform the means of transport, with
an offer of products and services that promote the
development of electric mobility, complementing these
services through private and urban charging infrastructure
and new technologies. It also promotes electric public
transport by offering comprehensive solutions for
operating companies.
Enel Américas, in line with Enel Group’s strategic pillar,
has promoted the acceleration of the process of the
electrification of cities within all its business lines:
electrification of transport, both for the public sector,
industries and homes, the implementation of new Full
Electric projects, and a significant progress with the
replacement of wood stoves for inverter air conditioning
equipment for homes. Similarly, it has implemented energy
efficiency projects to support customers and mitigate
the carbon footprint in its operations, ventured into
other industrial sectors and implemented new business
models. At the same time, it works on the incorporation of
circular economy in its portfolio of solutions, products, and
services, to promote the Company’s growth and sustainable
development.
Enel X is, therefore, a cross-cutting initiative aimed at
increasing the use of sustainable electricity solutions for
homes, industries, cities, and mobility, thereby accelerating
electrification. This leads, hand in hand, an increase in the
demand for electricity and, therefore, in the services of
generation and distribution of electricity.
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Generation and transmission segment by country
Generation and transmission segment by country
Argentina
Hydroelectrical
Solar
Thermal
Wind
Buenos Aires
Net Installed
capacity
Costanera
Docksud
MW
2,210
847
Motor generator
34
Total
3,091
Net Installed
capacity
El Chocón
Arroyito
Total
MW
1,200
128
1,328
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Installed capacity and market share in Argentina
Enel Américas S.A. participates in the generation business through Enel Argentina S.A., one of the leaders in terms of installed
capacity with 4,419 MW, which represents 10.30% of national installed capacity.
Below is a table with the main generators of the Argentine electricity system:
Participation by Installed Capacity at 12.31.2021
Business Groups
National Government
Pampa Energía (1)
Grupo Enel
Sadesa
Aes
Foninvemem
Provincial Governments
Others
Total
Installed capacity
MW
Market Share
Participation
5,426
4,950
4,419
4,583
4,307
2,585
2,940
13,780
42,989
12.6%
11.5%
10.3%
10.7%
10.0%
6.0%
6.8%
32.1%
100.0%
Among the most relevant business groups involved in the generation activity in the Argentine electricity market are AES,
SADESA and Pampa Energía (acquired during 2016 from Petrobras Argentina). Other companies are YPF Energía and Pluspetrol
Energía, acquired by YPF.
The 13,128GWh generated by Enel Group companies in Argentina represent 9.26% of the total electricity generated in the
country during 2021.
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Renewables market
In 2021, 837MW of renewable capacity were incorporated,
of which 38MW correspond to private projects (MATER) and
697MW to tenders carried out under the RenovAr program.
The remaining 102MW belong to projects under the umbrella
of Resolution 202/16.
The RenovAr program is part of Law No. 27,191, which
establishes the guidelines for the participation of this type
of energy in the market, which by 2025 should reach 20%.
As of December 31, 2021, renewable energies accounted
for 11.4% of Argentina's total installed capacity.
Law No. 27,191 establishes that only hydroelectric plants
of less than 50MW of installed capacity will be considered
as renewable energy projects. Given this, the generation
plants owned by the Enel group are not considered within
this percentage as of December 31, 2021.
Remunerations of the generating units
In February 2020, the Ministry of Energy published Resolution
SE No. 31/2020 weighing the prices of remuneration at the
exchange rate $60 = 1US$ and established the update of
the values in Argentine pesos.
On May 21, 2021, Resolution SE 440/21 updated Resolution
SE 31/2020 with a 29% linear application adjustment to the
original values of Res. 31/2020. The 29% adjustment was
retroactive to February 2021. For the liquidation of sales to
become effective with the updated remuneration values,
each generator had to submit a withdrawal note to any
administrative claim or judicial process related to Article 2
of Resolution SE No. 31/20.
On 8 June, the Enel Américas Group presented the
withdrawal notes for Costanera, Chocón and Dock Sud.
In July, the final DTE May 2021 was published; it applied
the new resolution in force (440/21) to the payment of
generators. The final remunerative values valid for February,
March and April were published as "adjustments for previous
months", for which the new regulation was also defined.
On November 2, Resolution SE No. 1037/21 was published,
through which the following measures were adopted:
• It created the Export Account of the wholesale electricity
market stabilization fund;
• It established that, as of the September 2021 economic
transactions, the income collected by the Electricity
Wholesale Market Management Company (Cammesa)
from the export operations of electrical energy will be
accumulated in the aforementioned account;
• It provided for an additional and transitory recognition in
the remuneration of generators included in Resolution
No. 440/2021, which will cover economic transactions
between September 1, 2021, and February 28, 2022.
The net income collected in the Export Account of the
wholesale electricity market stabilization fund will be
destined for the financing of energy infrastructure works and
will be allocated by the Secretary of Energy, as established,
in a timely manner.
On November 9, the Secretary of Energy sent the regulatory
instruction to Cammesa, under Article 4 of Resolution No.
1,037/21, indicating that, it must be assumed that there
is a constant Utilization Factor equal to 70% to set the
Remuneration of the Availability of Power in the calculation
of the economic transactions provided for in Points 4 and
5 of Annex II of Resolution SE No. 440/2021,
Similarly, an additional amount of $1,000/MWh exported
during the month will be recognized, and proportionately
allocated to the monthly energy generated from each
conventional and hydraulic thermal generator reached.
Hydrological condition and raw materials
development
The months in which Argentina records the highest rainfall
are usually from May to August. The warmest usually extend
from October to December and, therefore, are the source
of the biggest thaws in the mountains, providing the
Collón Cura and Limay rivers with water. The rivers, in turn,
feed to the El Chocón reservoir and its hydroelectric plant,
located in the southwest of the country, in the Comahue
region. Therefore, depending on the weather conditions,
the availability of water resources can potentially peak
during two seasons of the year, both in winter and summer.
However, Argentina is a controlled market, with an established
tariff or remuneration regime, in which neither energy nor
commodities are traded. The remuneration received by the
generation companies is defined in the remuneration system,
including the remuneration that covers fixed and variable
costs, plus additional remuneration that covers operation
and maintenance costs. Market prices are not related to
hydrological conditions or commodity prices.
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Description of the generation units in Argentina
The following table presents a description of the generation units in Argentina
Plant/company
Location
Detail of installed capacity
Enel Generación
Costanera
El Chocón S.A.
City of Buenos Aires (Avda. España 3301, C1107 CABA Argentina)
It has six turbo steam units for a total of 1,062 MW net, which can be generated
with natural gas or fuel oil. It also operates two combined cycles of 851MW and
297MW net respectively, totaling net installed capacity of 2,210MW.
Enel Generación El Chocón S.A. is a company that operates the El Chocón and
Arroyito hydroelectric power generation projects, located on the Limay River, in
the provinces of Neuquén and Río Negro. El Chocón is located in the Comahue
region, formed by the Argentine provinces of Río Negro, Neuquén, and the
southern part of the provinces of Buenos Aires, on the Limay River about 80 km
upstream of its confluence with the Neuquén River. Arroyito is the compensating
dam of El Chocón and is located on the same river, 25 km downstream.
The hydroelectric complex has a total net installed capacity of 1,362 MW and
comprises the El Chocón plants, with a net installed capacity of 1,234 MW (re-
servoir accumulation hydroelectric power plant) and Arroyito with a net installed
capacity of 128 MW, using both the waters of the Limay and Collón Curá rivers to
generate energy. The Company has a net installed capacity of 1,328MW hydraulic
and a net thermal power of 34 MW corresponding to the motor generators.
Central Dock Sud
In the Avellaneda neighborhood in the province of Buenos Aires
(Avenida Agustin de Debenedetti 1636)
The Central Dock Sud (CDS) owns and operates a thermal power plant, which has
a total net capacity of 847MW; it has four gas turbines and one steam turbine;
two of the gas turbines and the steam turbine comprise a combined cycle.
2021 Management
Generation and sale of electricity
In 2021, Cammesa dispatched the Argentine Interconnection
System (Spanish acronym SADI) according to the resolutions
established by the Ministry of Energy. It is in this context
that the dispatch was maintained prioritizing natural gas,
considering the performance of the units and the use of
liquids (gas oil and fuel oil) depending on the restrictions
imposed on plants during the time of greatest household
demand.
As a result of the operations, the generation of Costanera's
Conventional Units reached 223GWh net and the generation
of the Combined Cycles reached 5,472GWh net. In 2020,
the plant’s generation was 6,518GWh (12.6% higher than in
2021), due to the extension of the planned maintenance of
the MHI combined cycle and the unavailability incurred at
the beginning of the year in the fleet of units.
On December 30, 2019, the publication in the Official
Gazette of Resolution 2019-12-APN-MDP repealed
Resolution 2018-70-APN-SGE, and the dispatch of fuels
from the Wholesale Electricity Market (MEM) plants and
commercial management was once again centralized
in the dispatch entity. This situation was maintained
throughout 2021.
The hydrological year that began on April 1 was an extra-dry year
according to the accumulated shed in the Limay and Collón Cura
rivers. The net generation capacity recorded by Enel Generación
El Chocón during the year was 2,028GWh. This production was
made up by 1,509GWh in Chocón (74%), 449GWh in Arroyito
(22%) and 70GWh of engine generators (4%).
Land reserved for future projects :
The Company began 2021 with a reservoir level of 373.79
meters above sea level (m.a.s.l.) The El Chocón reservoir
was 1,552GWh and the one in Comahue was 4,977GWh.
Both values were measured in relation to the minimum level
conditions of the Extraordinary Operation Strip (Spanish
acronym FOE).
At the end of 2021, the reservoir level reached 370.65
m.a.s.l. The energy reserve in the Comahue reservoirs was
3,618GWh, of which 984GWh correspond to the reserves
of El Chocón.
Due to the critical hydrological conditions experienced in
2021, which affected the maintenance of the reservoir level,
energy production decreased by 31.6%in relation to 2020.
The generation of Central Docksud as of December 31, 2021,
was 5,378GWh, and was the plant’s highest generation in
its history.
The 2020 generation was 4,461GWh and the differences
between both years (2020 vs 2021) can be explained, among
other things, because in the previous year’s corrective
maintenance affecting the generation of the combined cycle.
While in 2021 the plant and fundamentally its combined
cycle had an exceptionally good operational performance,
as evidenced by its historical generation record.
In Argentina, Enel Américas does not have land reserved for future projects.
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Brazil
Net installed
capacity
MW
Cachoeira Dourada 655
380
103
31
29
22
16
14
8
7
5
1.270
Volta Grande
Salto Apiacas
Paranapanema
Isamu Ikeda
Primavera
Apiacás
Socibe
Mourao
Alvorada
Quatiara
Total
Hydroelectric
Solar
Thermal
Wind
Net installed
capacity
Fortaleza
Net installed
capacity
Sao Goncalo
Ituverava
Horizonte
Fontes Solar
MW
319
MW
864
254
103
12
Total
1,233
Net installed
capacity
Lagoa do Ventos
MW
716
Morro de Chapeau 525
Delfina
Cumaru
209
206
Fontes dos Ventos 179
Serra Azul
Cristal
Curva
Modelo
Total
118
90
57
56
2,156
Installed capacity and market share in Brazil
With the incorporation of the Enel Green Power Américas S.A. companies and the subsequent start-up of wind and solar
projects, Enel Américas increased its share in terms of installed capacity in the Brazilian market. Through Enel Brasil S.A. and
its subsidiaries, it reached 2.7%, entering the group of the largest generators in the country, with 4,978MW installed capacity.
Below is a table with the main generators of the Brazilian electricity system:
Participation by Installed Capacity on 12.31.2021
Business Groups
Electrobrás
Engie
China Three Georges Brasil Energía
Copel
Enel Group
Petrobras
Edp Renovaveis
Others
Total
Installed capacity
60,414
10,862
7,114
6,292
4,978
4,823
3,598
84,862
182,943
Market Share
Participation
33.00%
5.90%
3.90%
3.40%
2.70%
2.60%
2.00%
45.90%
100.00%
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Enel's participation in the Brazilian generation market
As a result of Enel Américas' strategy to quickly move
forward in the energy transition process, the growth in
future generation capacity is geared towards wind and
solar generation technologies. In fact, within the Company's
installed capacity, the 2,156MW of installed capacity in
wind farms represents 10.0% of the total installed capacity
of this generation technology in Brazil; in the case of
solar generation sources, the percentage reached 25.5%,
involving 1,233MW of installed capacity in Enel Brasil.
Renewables market
In line with global trends, in 2021, the net increase in Brazil's
energy matrix was 7,562 MW, of which 69.6% corresponded
to renewable energy projects, 3,964 MW of winds sources
and 1,299 MW of solar sources.
Along the same lines, 100% of the growth in installed
capacity in the Company's Brazilian companies came from
renewable energy sources, both due to the incorporation
of the park already installed at the time of the merger with
Enel Green Power Américas S.A. as well as the subsequent
additions of wind and solar farms. .
Remuneration of generating units
In the short-term market, electricity purchases and sales
are made at the spot market price, which is established by
the Chamber of Electricity Marketing (Spanish acronym
CCEE). These prices are calculated on a marginal cost
basis, with a model of future operating conditions and
adjustment of an order of merit curve with variable
costs per thermoelectric unit and opportunity cost for
hydroelectric power plants. This leads to a price for each
subsystem set for the next week following determination.
However, spot prices are settled hourly (PLD) as of January
2021.
Long-term contracts with non-regulated customers are
freely traded pursuant to agreement between the parties.
Brazil has an electricity reallocation mechanism, which
provides hydroelectric generators with financial protection
against hydrological risks. To minimize the cost of the
system, the market operator defines which hydroelectric
power plants generate electricity and generators with
deficits can buy energy from surplus generators at an
established price; the marginal operational cost is set
annually by the National Electricity Agency (Spanish
acronym ANEEL). All hydroelectric generators that
participate in the Electricity Reallocation Mechanism
(Spanish acronym MRE) take part in the global hydroelectric
generation dispatched in proportion to their guaranteed
energy, regardless of what their actual generation is. In
2021, the generation of the Cachoeira Dourada and EGP
Volta Grande hydroelectric plants was lower than in 2020
due to worse hydrological conditions, a situation that was
different from the one that took place in 2019.
Hydrological condition and raw material
development
Brazil has several river basins, with waterfalls used for
hydroelectric generation. Most Brazilian rivers are mainly
fed by rainfall. Due to its tropical climate, rainfall is mostly
concentrated in the summer months, from November to
May, and is lighter during the winter. These hydrological
conditions are those that prevail in the south of Brazil, in
the Paranaíba River, in the Paraná basin, where the Cachoeira
Dourada and EGP Volta Grande hydroelectric plants are
located. In 2021, the hydrological conditions were quite
negative, one of the worst in recent years, which meant a
lower production of the entire hydroelectric block in Brazil.
The Fortaleza results, the Groups’ only thermoelectric
plant in the country, are associated mainly with its thermal
generation, in which its generation costs are mainly linked
with the purchase of gas and energy purchase costs. In
2021, the generation of Fortaleza was 88.0% higher than
the previous year, given the need of the Brazilian system
to have a higher thermal production in the face of the
complex water situation experienced during said period.
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Description of the generating market in Brazil
Generating units operating in 2020 and 2021
The following table shows the generation plants operating both in 2020 and 2021: Unidades de generación incorporadas con
la fusión de EGP Américas
Plant/company
Location
Cachoeira
Dourada
State of Goiás, 240 km. south of Goiânia (Highway Go-206
Km - 0, S/N rural area Cachoeira Dourada – GO 75560-000)
Volta Grande
Fortaleza
On the Rio Grande, between the states of São Paulo y Minas
Gerais.(Miguelopolis, Sao Paulo 14530-000 Rio Grande)
It is located in the municipality of Caucaia, 50 km. from the
capital of the state of Ceará, 616000-000, Brazil.
Detail of installed capacity
It has ten generating units with a total of 655MW of net
installed capacity. It is a run-of-the-river hydroelectric plant
and uses the waters of the Paranaiba River.
It has a net installed hydroelectric generation capacity of
380MW.
It is a combined cycle thermal power plant of 319MW of net
installed capacity, which uses natural gas and can generate
a quarter of the electricity needs of Ceará, with a population
close to 9 million people.
Generating units incorporated with the merger of Enel Green Power Américas
As a result of the materialization of the merger with EGP Americas and the development of projects that were already underway,
Enel Americas added 3,624MW of generation from renewable sources to its net installed capacity, the most notable being:
Wind farms with 2,156MW
Lagos dos Ventos
The Lagoa dos Ventos wind farm, composed of 230 wind turbines and located in the state of Piauí, in the northeast of the
country, is a record project. It is Enel Green Power's largest wind farm in the world. The 716MW plant is capable of generating
more than 3.3TWh per year, avoiding the emission of more than 1.6 million tons of CO2 into the atmosphere.
Morro do Chapéu
Morro do Chapéu is located in the municipalities of Morro do Chapéu and Cafarnaum, in the State of Bahia, in the same region
as the Morro do Chapéu Sul wind farm. It has an installed capacity of 525MW.
Apart from these wind farms, there are nine other wind farms: Cristal, Curva, Delfina, Fontes, Modelo, Cumaru and Serra Azul,
with 27 production units with a 915MW installed capacity.
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Solar parks with 1,233MW
Sao Gonçalo
Located in the State of Piauí, a semi-arid region of Brazil, the São Gonçalo Solar Park (SGL) is a project composed of 2.2 million
panels. It is the largest solar park in South America.
The construction of the first section of São Gonçalo, of 475MW, began in October 2018 and was connected to the grid
in January 2020. In August 2019, Enel announced the start of work on a 133MW extension of the solar park, which is now
completed and in operation. In addition, the second expansion has been completed, with an installed capacity of 256 MW.
With it, the total capacity amounts to 864MW, capable of generating 2.2TWh per year and a reduction of 1.2 million tons of
CO2 becoming Enel's largest generating unit in the world.
Ituverava
It has a 254MW installed capacity and is located near Tabocas do Brejo Velho, a small town some 800 kilometers from
Salvador, the capital of the state of Bahia. Its 850,000 solar panels can produce 550 GWh per year and avoid the emission
of 318,000 tons of CO2 each year.
Apart from these two projects there are other solar park projects such as Horizonte MP Fonte Solar and Apiacás, which
together provide an installed capacity of 115MW.
Run-of-the-river hydroelectric plants with 235MW
They are smaller hydroelectric plants, located in rural sectors of Brazil, and incorporated with the merger with Enel Green
Power Américas. In total their installed capacity reaches 235MW and they take advantage of the tributaries of different rivers
of Brazil such as Palmeiras, Apiacás, Bagagem, Paraguai, Braco Norte, Rio do Casca, Lontra, Culuene, Rio das Balsas, Laranja
doce, Paranapanema, Rio de Peixe, Rio do Pari, Rio dad mortes, Rio de Abreu and Sao Domingos.
2021 Management
Generation and sale of electricity :
In 2021, power generation increased by 6,164GWh mainly
due to the generation of the subsidiaries incorporated by
Enel Green Power Américas, which together contributed
a generation of 7,766 GWh.
Our largest hydroelectric plants, Cachoeira Dourada and
Volta Grande, decreased power generation by 1,234GWh
and 555GWh respectively, a situation that was linked with
a negative hydrological condition that occurred in Brazil
during 2021.
In the case of the Fortaleza thermal power plant, it registered
a 187GWh generation increase for the same reason, because
the Government needed more thermoelectric production
to cover the country's energy demand.
In relation to energy sales, these exceed by 15,410GWh our
own generation, as a result of the energy purchases from
other generators to comply with the sales commitments of
both long and short-term contracts. This figure was 2,701GWh
higher than the purchases made the previous year, confirming
the Group's growth strategy in the free market.
Another important point is the purchase of energy made
by to the Argentine from the Uruguayan markets totaling
4,844GWh, 2,197GWh more than the one registered the
previous year. These are incorporated into the Brazilian
electricity system through the transmission lines of the
subsidiary Enel Cien.
Land reserved for future projects
Enel Américas does not have land reserved for future
projects in Brazil.
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Colombia
Hydroelectric
Solar
Thermal
Bogotá
Net installed
capacity
MW
El Guavio
1,260
Betania
Quimbo
La Guaca
Paraiso
540
400
324
276
Dario Valencia
150
Tequendama
Salto II
Charquito
Limonar
Laguneta
57
35
19
18
18
Total
3,097
Net installed
capacity
Termozipa
Cartagena
Total
Net installed
capacity
El Paso
MW
226
180
406
MW
86
Installed capacity and market share in Colombia
Enel Américas' electricity generation in Colombia reached 17.9% of the total generated electricity in that market in 2021.
It is the largest electricity generation company in Colombia due to its net installed capacity and it is positioned as the third one
nationally, in terms of generation.
Enel’s participation in the generation market in Colombia
Below is a table with the main generators of the Colombian electricity system:
Participation by installed capacity on 12.31.2021
Business groups
Enel Colombia
EPM
Isagen
Celsia
Aes Chivor
Tebsa
Gecelca
Prime Termoflores
Empresa Urra
Termocandelaria
Others
Total
Installed capacity MW
3,589*
3,467
3,036
1,376
1,020
911
727
610
338
314
2,443
17,830
Market Share Participation
20.0
19.4
17.0
7.7
5.7
5.1
4.1
3.4
1.9
1.8
13.8
100.0
*Includes the power of El Paso Solar 68 MW - AC corresponding to 86 MW - DC. Pending entry into commercial operation.
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Renewables market
In 2021, 75MW of renewable installed capacity entered the
Colombian market, especially associated with solar plants.
These have a capacity of less than 20MW, so they are
considered minor plants in the system and are not required
to participate in the Central Dispatch.
As of December 31, 2021, renewable energies accounted
for 82.34% of total generation during the year, of which
0.52% (0.38 TWh/year) are associated with non-conventional
renewable energy sources (solar and wind). In October, a
new renewable energy auction was successfully held, which
responds to the strategy that is taking place in the country
to encourage the development of new projects of this kind
of technologies.
Remuneration of the generating units
The National Dispatch Center (Spanish acronym CND)
receives price offers every day from all generators
participating in the Colombian Wholesale Electricity Market
(Spanish acronym MEM). These offers indicate the prices and
capacity available for each hour of the next day. With this
information, the CND, guided by the principle of "optimal
dispatch" (which assumes an infinite transmission capacity in
the network), hierarchizes the optimized dispatch during the
24-hour period, considering the initial operating conditions
and establishing which generators will be dispatched the
next day to meet the expected demand. The price for
all generators is set as the price of the most expensive
generator dispatched in each hourly period under optimal
dispatch conditions. The price hierarchy system seeks to
guarantee that domestic demand, increased by the total
energy exported to other countries, will be satisfied with the
combination of lower cost of the generating units available
in the country.
Hydrological condition and raw materials
development
2021 was a period with a 114% surplus hydrological contribution
in the National Interconnected System (Spanish acronym SIN)
in relation to its historical average (Spanish acronym MH). This
was due to various weather-related phenomena, such as those
of the ENSO conditions (El Niño Southern Oscillation), which
throughout the year were characterized by low temperatures
in the Central Pacific Ocean, leading to the consolidation of the
La Niña phenomenon (high hydrology) of moderate intensity,
which had been occurring from the second half of 2020 to
the first half of 2021.
In the second half of the year, certain weather and
atmospheric conditions led to hydrological contributions
slightly above the historical average, such as humidity from
the Amazon that influenced the contributions of the East
region with a certain impact on some basins of the SIN of
the central region (El Quimbo and Rio Bogotá). This led to
an increase in the SIN's reserves, which started the year with
12.2 TWh, of 13.3 TWh by the end of 2021.
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Description of generation units in Colombia
Generation units in operation in 2020 and 2021
The following table shows the generation plants operating both in 2020 and 2021:
Plant/company
Location
Guavio &
Guavio Menor
Via Ubalá, Mambita, Municipality of Ubalá in Cundinamarca
120 kilometers from Bogotá.
Betania
Quimbo
Campo Alegre, Huila, distant 30 kilometers from Neiva,
Colombia.Colombia.
Is located in the south of the department of Huila, between
the Central and Eastern Mountain Ranges, approximately 69
km south of the city of Neiva on the paved road that leads
from Neiva to Gigante.
La Guaca
Betulia, Mesitas del Colegio, Cundinamarca 40 kilometers
from Bogotá.
Paraíso
Vía Central Paraíso, Mesitas del Colegio, Cundinamarca.
Darío Valencia
Betulia, Mesitas del Colegio, Cundinamarca, Colombia.
Cartagena
Termozipa
It is located in Cartagena de Indias, Cartagena Province,
Bolívar, Colombia.
The Martín del Corral Thermoelectric Power Plant, also
known as Termozipa, is located 40 kilometers north of Bo-
gotá, on the left bank of the river of the same name, near the
municipality of Tocancipá.
Detail of installed capacity
It has seven generating units with a total of 1,260MW of net
installed capacity. It is a hydroelectric reservoir and uses the
waters of the Guavio River.
Through reservoir technology it has a net installed hydroe-
lectric generation capacity of 540MW, using the flow of the
Magdalena River.
Through reservoir technology, it has a net installed hydroe-
lectric generation capacity of 400MW, using the flow of the
Magdalena River.
Through run-of-the-river technology, it has a net installed
hydroelectric generation capacity of 324MW, forming part
of the chain of plants that use the flow of the Bogotá River.
Through run-of-the-river technology, it has a net installed
hydroelectric generation capacity of 276MW, forming part
of the chain of plants that use the flow of the Bogotá River.
Through run-of-the-river technology, it has a net installed
hydroelectric generation capacity of 150MW, forming part
of the chain of plants that use the flow of the Bogotá River.
It is a thermal power plant that has three turbines powered
by natural gas and has an installed capacity of 180MW
It consists of four steam generation units, which use coal as
a primary fuel, abundant in the area, and as optional fuels
and for heavy oil starting, its net installed generation capaci-
ty is 226MW.
Finally, five smaller hydroelectric plants, which use run-of-the-river technology and the flows of the Bogotá River, complete
Enel Colombia's installed hydroelectric capacity: Tequendama, El Salto II, El Charquito, Laguneta and Limonar contribute a
total of 147MW of installed capacity.
Generating units incorporated in the merger with Enel Green Power Américas
As a result of the merger with Enel Green Power Américas on April 1, 2021, Enel Colombia added 86MW of generation from
renewable sources to its net installed capacity through the El Paso solar park.
Located in the department of Cesar, in northern Colombia, the solar park has an 86MW installed capacity and is the largest
photovoltaic plant built to date in the country. It can meet the energy consumption needs of approximately 102,000 Colombian
households, or about 400,000 people.
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2021 Management
Generation and sale of electricity
The Company’s management was aimed at optimizing
processes and adopting best practices at a global level,
which allowed an efficient project development achieving
optimal operating and economic results in the second
year of the pandemic. To generate energy, one of the main
focuses was the availability of the generator park, which
meant that it was possible to meet the requirements,
supporting the reliable and safe operation of the national
interconnected system and guaranteeing the coverage of
the energy demand.
In 2021, Enel Colombia's net power generation reached
13,209GWh. The year was distinguished by increased
water contributions, which meant low prices in the spot
market with a 43% utilization factor complying with the
requirements of the national interconnected system. Enel
Colombia was positioned as the country’s third largest
generator with 17.9% of the total energy generated. Similarly,
Land reserved for future projects:
considering the generation coming from the hydroelectric
fleet, it ranked first at the level of Enel South America.
The availability of the Emgesa generator park during the
period was 88.8%, with such important events as the
following ones: the maintenance of the Unit 3 Cartagena
turbine and the change of stator of the Guavio Unit 5. These
were activities required to guarantee the reliability of the
generator park in the future.
In 2021, 17,589GWh were sold, of which 10,991GWh
corresponded to sales to customers in wholesale market
contracts, 3,942GWh to non-regulated customers and
2,656GWh to sales in the spot market. To support energy
sales and own consumption of 99GWh (auxiliary and
pumping consumption), a net 13,209GWh generation was
presented and 3,732GWh were acquired in the spot market
and 724GWh through third parties (non-spot).
Enel Américas does not have land set aside for future projects in Colombia.
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Peru
hydroelectric
Solar
Thermal
Wind
Net installed
capacity
Malacas
Ventanillas
Santa Rosa
MW
333
460
397
Total
1,190
Lima
Net installed
capacity
Huinco
Chimay
Matucana
Callahuanca
Moyopampa
Yanango
Huanpani
Her 1
Total
Net installed
capacity
Rubi
Waira I
Total
MW
276
151
133
84
69
42
31
1
793
MW
179
132
311
Installed capacity and market share in Peru
Enel Américas' electricity generation reached 18% of the total generated in that market in 2021 through the generation
subsidiaries in Peru.
The Company, through its different generating units, reaches third place in terms of capacity among Peruvian generators and
fourth place in terms of power generation.
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Enel’s participation in the generation market in Peru
Below is a table with the main generators of the Peruvian electricity system:
Participation by installed capacity on 12.31.2021
Business groups
I Squared Capital (Kallpa, Orazul, Puerto Bravo)
Engie
Enel Perú
Empresas Estatales
Fénix Power
China Three Gorges
Statkraft
Others
Total
Installed capacity MW
Market Share
Participation
2,896
2,496
2,296
1,464
573
477
448
2,107
12,757
22.7%
19.6%
18.0%
11.5%
4.5%
3.7%
3.5%
16.5%
100%
Renewables market
NCRE resources for electricity generation are those that come
from the biomass, wind, solar, geothermal, and tidal power
plants, as provided for in Legislative Decree No. 1002 (DL 1002).
Hydroelectric power plants with an installed capacity of less
than 20MW are also considered within this standard.
DL 1002 also indicates a target percentage of national
electricity consumption, set every five years, to be covered by
electricity generation obtained from NCRE sources, excluding
hydroelectric power plants. This percentage has remained at
5% since 2008. In addition, an auction scheme is established
with the following incentives:
• Through tenders for energy to be covered by NCRE
sources, the successful investor receives a guaranteed
firm price for the energy injected into the system during
the supply contract period of up to 20 years; these tenders
established quotas by type of technology and limit prices.
• Priority in clearance and access to transmission and
distribution networks.
Finally, other rules established tax incentives, including
accelerated depreciation of assets for income tax
purposes, and early recovery of sales tax. In 2015, the
Peruvian Congress passed Law No. 30,327, which extends
the accelerated depreciation of assets for income tax
purposes until 2025.
Remuneration of generating units
The spot price is calculated based on the variable
production costs of each generating plant, regardless
of its contractual commitments. For dispatch purposes,
natural gas prices were set once a year, in June, and were
applicable to the following twelve months, from July to
June of the following year; however, since July 2021 this
scheme changed with the modification of Technical
Procedure No. 31 of the Committee for the Economic
Operation of the System (Spanish acronym COES), which
establishes a monthly mechanism to support and update
the prices of natural gas to be used in the dispatch.
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The production of the generation plants and customers’
energy consumption are valued at a marginal cost,
calculated every half hour. Generators with deficits can
buy power from generators with surpluses. This principle
concerning balance in energy sales also applies to power
charges. The price of power is regulated by Osinergmin, the
Peruvian electricity regulator.
Hydrological conditions and raw material
development
The hydrological conditions in Peru are very variable in the
different hydrographic regions. The Pacific region’s main
characteristic is the fact that the flows in its rivers depend
mainly on the rain that falls in the mountains, between the
months of December to April, according to the hydrological
cycle. This area is home to the largest population and it
is where the greatest economic activities take place,
so different water regulation systems have been built to
guarantee the supply to the population, such as the one
used in the Rimac River. The basin of this river is home to
six of the Company’s eight hydroelectric plants whose water
resource is guaranteed by the regulation system of 21 lakes
and the transfer of water from the Mantaro basin (Atlantic
hydrographic basin). 2021 was a mostly a wet hydrological
year except for February which was quite dry.
The Amazon hydrographic region is characterized by a
greater water supply due to abundant rainfall between
December and April. This region is home to the Tarma and
Tulumayo river basins, where the Yanango and Chimay
hydroelectric plants are located. However, these basins
presented a mostly dry and extremely dry hydrology between
July and October 2021.
Apart from using the hydrological resource, other sources
are also available to generate energy in Peru, such as natural
gas, from deposits within the national territory in the Zócalo
areas, the country’s coast, and jungle. Similarly, liquid fuels
made from petroleum of national and international origin
are used to a lesser extent.
In recent years, natural gas has transformed the country's
energy matrix, displacing liquid fuels made from petroleum
(a more expensive and volatile fossil source) and has
become an important complement to hydraulic generation
(subject to weather variations). This way, the energy matrix
has diversified with different energy sources available for
electricity generation plants and has also allowed to increase
efficiency in energy production through the use of new
technologies such as combined cycles to natural gas.
The natural gas that feeds Enel's generation plants and
others located on the country's central, comes from the
basins of the southern jungle area of Peru (Camisea, Lot
88) and from the basins of the northern coast of Peru for
the Piura-Talara plants (Lot X, I, IV, VI, Z-2B). Estimates of
depletion of reserves, due to the production and supply of
gas on demand, would be presented at least in 2040.
Gas supplies for Enel are secured through medium- and
long-term contracts (the entire gas chain, supply, transport,
and distribution). Natural gas supplies can be considered as
permanently available, except in periods when maintenance
is carried out in some part of the supply chain that restricts
the supply partially or totally.
At the same time, liquid fuel is used as an alternative to operate
the Enel plants in exceptional cases, such as tests or in an
emergency and/or restriction in the gas supply chain. Similarly,
liquid fuel requirements are managed to replenish a level of
stock necessary to guarantee compliance with the duality
and cold reserve regimes of the Enel Peru Group's thermal
generation plants. These requirements are guaranteed by
physical stock in each plant and through medium and/or long-
term liquid fuel supply contracts with wholesale suppliers of this
type of fuel. In that sense, liquid fuel supplies can be considered
to be permanently guaranteed.
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Description of the generation units in Peru
Generation units operating in 2020 and 2021
The following table shows the generation plants operating both in 2020 and 2021
Plant/company
Location
Huinco
Chimay
63.5 km west of Lima District of San Pedro de Casta, provin-
ce of Huarochirí, Lima.
320 km northwest of Lima. Monobamba District. Province of
Jauja. Department of Junín.
Matucana
64.5 km east of Lima. District of San Jerónimo de Surco.
Province of Huarochirí. Lima Department
Callahuanca
52.5 km east of Lima. Callahuanca District. Province of Hua-
rochirí. Department of Lima.
Moyopampa
40 km east of Lima. District of San Juan de Lurigancho.
Province of Lima. Department of Lima.
Yanango
280 km northwest of Lima. District of San Ramón. Province
of Chanchamayo. Department of Junín.
Huampani
16 km east of Lima. Lurigancho District. Lima province.
Department of Lima.
Ventanilla
Ventanilla District, Callao Province.
Santa Rosa
Cercado District of Lima. Province of Lima. Department of
Lima.
Malacas
District of Pariñas. Province of Talara (Piura)
Detail of installed capacity
It has four generating units with a total of 276MW of net
installed capacity. It is a hydroelectric reservoir and uses the
waters of the Eulalia river.
With two generation units through reservoir technology,
it has a net installed hydroelectric generation capacity of
157MW, using the flow of the Rio Tulumayo.
With two generation units through run-of-the-river techno-
logy, it has a net installed hydroelectric generation capacity
of 133MW, using the flow of the Rimac River and Yuracmayo
reservoir.
With four generation units through run-of-the-river techno-
logy, it has a net installed hydroelectric generation capacity
of 83MW, using the flow of the Rimac and Santa Eulalia
rivers.
With three generation units through run-of-the-river
technology, it has a net installed hydroelectric generation
capacity of 69MW, using the flow of the Rimac and Santa
Eulalia rivers.
With a generation unit through run-of-the-river technology,
it has a net installed hydroelectric generation capacity of
42MW, using the flow of the Tarma and Yanango rivers.
With two generation units through run-of-the-river techno-
logy, it has a net installed hydroelectric generation capacity
of 31MW, using the flow of the Rimac and Santa Eulalia
rivers.
It is a combined cycle thermal power plant that has a net
installed capacity of 460MW.
State-of-the-art thermoelectric plant, consisting of three
plants with four gas turbo units, with a net installed capacity
of 397MW.
It has three dual natural gas turbogenerators, which operate
in a single cycle with a net installed capacity of 333MW.
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Generating units incorporated through the merger with Enel Green Power Américas
As a result of the merger with Enel Green Power Américas and the development of the projects that were already
underway, Enel Américas added 312MW of generation from renewable sources to its net installed capacity, according
to the following detail:
180MW solar park
Rubí
The Rubí Photovoltaic Solar Power Plant is a 180MW electricity generation unit that supplies renewable energy to the Peruvian
National Interconnected Electric System (SEIN) for a period of 20 years. Rubí takes advantage of the high quality of the solar
resources that southern Peru can offer and sets a trend for the development of a Renewable Energy Node in the south of
the country.
560,880 solar panels cover 400 hectares of the Moquegua desert, at km. 1,115 of the Panamericana Sur.
The Rubí Solar Power Plant contributes to diversifying the country's energy matrix and strengthening local generation in the
south, increasing by 12% the production of electricity with renewable energies in the southern region (hydroelectric and solar).
It generates 440GWh per year, equivalent to the consumption of more than 350,000 Peruvian homes with renewable energy.
132MW wind farm
Waira
The Wayra I wind farm, located with a 132MW net installed capacity in the Marcona district (in the province of Nazca, in the
department of Ica), is located approximately 480 km from the city of Lima, near the Panamericana Sur highway.
2021 Management
Generation and sale of electricity:
After a totally atypical year in 2020, mainly due to the
measures adopted by the Central Government to combat
the Covid-19 pandemic, the paralyzed sectors have been
progressively reactivated and social restriction measures have
also been relaxed. For this reason, demand has experienced
a recovery trend reaching, and even exceeding, pre-
pandemic levels. Due to the above, the annual demand of
2021 presented an increase of 9.8% compared to 2020; if we
take as a reference the demand of 2019, the advance is 2.1%.
In 2021, Enel Américas' energy production reached
9,338GWh, which represented 18.0% of the total production
reported by the SEIN.
The energy production in the SEIN, according to the resource
used, was divided between hydroelectric generation (56.8%),
natural gas (37.6%), non-conventional renewable (4.8%), coal
(0.1%), diesel (0.1%) and other resources (0.7%).
Land reserved for future projects:
Enel Américas does not have land reserved for future
projects in Peru.
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Central America
hydroelectric
Solar
Net installed
capacity
Fortuna
Palo viejo
Chucas
Occidente
Rio volcán
Matanzas/San Isidro
Don Pedro
Montecristo
Total
Net installed
capacity
Progreso Solar
Jaguito Solar
PV Chiriqui
MW
300
87
50
47
17
17
14
13
545
MW
26
13
12
Llano Sanchez Solar Power 3 11
Llano Sanchez Solar Power 1 10
Llano Sanchez Solar Power 4
Sol Real Itsmo
Generadora Estrella Solar
Generadora Solar Caldera
8
8
8
5
Total
101
With the incorporation of Enel Green Power Américas, the Enel Américas Group added to its generation business the activity
in Costa Rica, Guatemala, and Panama. It meant adding an installed capacity of 646MW of 100% renewable energy sources
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Integrated Annual Report Enel Américas 2021
Description of the generating units in Central America
Large hydroelectric plants
Fortuna (Panama)
Location: The Fortuna Hydroelectric Power Plant is located southwest of Panama, on the Chiriquí River, 30 kilometers northeast
of the municipality of David, in the Province of Chiriquí. Its main source of water supply is the Chiriquí River and its tributaries
start in the Fortuna Forest Reserve, mostly covered by tropical rainforest. The Chiriquí River emerges in the Sierpe Valley and
runs 75 kilometers to its mouth in the Pacific Ocean.
Detail of installed capacity: Fortuna has a 300MW net installed capacity, the largest hydroelectric plant in the country, a
sustainable park model managed since 2006 by the Enel Group, which is very active in Panama in the renewable energy sector.
Palo Viejo (Guatemala)
Location: It is located 285 km from Guatemala City, in the municipality of San Juan Cotzal, in the department of Quiché.
Detail of installed capacity: The Palo Viejo hydroelectric power plant has 87MW installed capacity generating 386.95GW per
year, equivalent to energy required by 133,920 homes in Guatemala.
The Palo Viejo operation is integrated in a respectful way into the natural environment and biological diversity of the Quiché
department, known for its forests and mountains located in an area of 214 hectares within the San Francisco farm.
The hydraulic plant permits to take advantage of and efficiently use the water of the Cotzal, Regadío, Escondido and Desengaño
rivers to transform it into electrical energy.
El Canadá/Occidente (Guatemala)
Location: MFQ9 + 38, San Miguelito, Calahuache, Guatemala.
Detail of installed capacity: The Canada/Occidente hydroelectric plant has purified the waters of the Samalá River, one of
the most polluted in the country. Now, thanks to the purification system installed by EGP, farmers can use the water to irrigate
their fields. It has a net installed capacity of 47MW.
Chucas (Costa Rica)
Location: It is located in Balsa de Atenas, Alajuela province, Costa Rica, some 3 kilometers south of the old train station in the
center of Balsa.
Detail of installed capacity: this hydroelectric project began operating in 2016. It was promoted by the Costa Rican Electricity
Institute (ICE) to take advantage of the waters of the Rio Grande de Tárcoles and generate energy with a capacity of 50MW.
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Solar Parks
They are smaller hydroelectric plants, located in rural sectors of Central America and incorporated with the merger with Enel
Green Power Américas. They are located in Panama, according to the following detail:
Name
Progreso Solar/Esperanza (Panama)
Jaguito (Panama)
PV Chiriquí (Panama)
Llano Sánchez Solar Power 3/Sol Real (Panama)
Llano Sánchez Solar Power 1/Milton Solar (Panama)
Llano Sánchez Solar Power 4Vista Alegre (Panama)
Sol Real Itsmo/Sol de David (Panama)
Generadora Estrella Solar (Panama)
Generadora Solar Caldera (Panama)
Total
Smaller hydroelectric plants
Installed capacity MW
Location
26
13
12
11
10
8
8
8
5
101
La Esperanza, Baco, Panama
Interamericana el Roble,
Panama
Chiriquí, Panama
Aguadulce, Panama
Llano Santo Panama
Llano Santo, Panama
La Esperanza, Baco, Panama
Provincia de Coclé, Panama
La Esperanza, Baco, Panama
They are smaller hydroelectric plants, located in rural sectors of Central America and were incorporated with the merger with
Enel Green Power Américas. They are located in Guatemala and Costa Rica, according to the following detail:
Name
Matanzas/ San Isidro (Guatemala)
Montecristo (Guatemala)
Don Pedro
Río Volcán
Total
Installed capacity MW
Location
16
13
14
17
60
San Jerónimo, Guatemala, the
San Jerónimo River
Zunil Quetzaltenango, the
Samala River
District of the Virgin Canton
Sarapiqui, Province of Here-
dia, the Sarapiqui River
District of the Virgin Canton
Sarapiqui, Province of Here-
dia, the Sarapiqui River
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The path to energy transition
As was mentioned before, the milestone marked by the
merger with Enel Green Power Américas – on 1, April 2021 –
put Enel Américas on the path to leading energy transition
in Latin America.
This challenge will only be possible as part of the Company's
strategic plans by assigning a significant part of its
investments to renewable energy generation projects.
About 38% of the US$8.9 billion investments announced
for the 2022 - 2024 period will be allocated to financing
new clean energy generation projects. The following table
shows the detail of the 2.7GW that are already under
development to become part of Enel Américas’ energy
matrix in the coming years:
Project
Country Technology
2022
MW to incorporate
2024
2023
Total
Lagoa dos Ventos III
La Loma
Madre la vieja
Aroeira
Lagoa dos Ventos V
Fundación
Guayepo
Windspeshi
Solar Clemesi
Waira II
Pedra Pintada
Baco Solar
Total
396
187
31
348
399
132
487
205
123
165
614
1,859
194
30
224
396
187
31
348
399
132
487
205
123
165
194
30
2,697
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Electricity distribution segment by country
Argentina
Edesur
Concession Area: southern zone of Greater
Buenos Aires, comprising two thirds of the
Autonomous City of Buenos Aires (CABA)
and 12 municipalities of the Buenos Aires
province covering 3,309 km2.
Concession period: 95 years, as of Septem-
ber 1, 1992. This period consists of initial 15
years and additional periods of eight to ten
years each.
Edesur
2.5
Million customers
Distribution
Hydroelectric Generation
Thermal Generation
Tariff regulations
The tariffs to be charged to end customers are subject to
the regulation established by the Integral Tariff Renegotiation
(Spanish acronym RTI) carried out every five years, between
the distributing company and the National Electricity
Regulatory Entity (Spanish acronym ENRE) This renegotiation,
apart from establishing the tariff system, imposes the
obligations of compliance and quality of the electricity
service to the end customers on distributors.
The last tariff period authorized for the collection of
energy distributed between the ENRE and Edesur, applies
between February 1, 2017, and January 31, 2021 and has
been extended, as a result of the pandemic, through DNU
1020/20. Throughout this, the quality of service regime will
increase its demand, as it is expected that the investments
and operational improvements that Edesur proposed in
the framework of the RTI will mature. This means that the
quality parameters will be increased and the value bonus
of the cost of unsupplied energy will be reduced over the
period, reaching the full values established only in the last
half of the period.
The same emergency has established transitory changes
in the way the Company operates, such as the prohibition
of suspension of basic services in certain circumstances, a
measure that is not currently in force. Additionally, Edesur
was authorized to use the entire fleet of SmartMeters
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installed in its concession area for billing, thus supporting
the new technology installed.
As part of this process, the Executive Power of the Nation
issued DNU 1020 in December 2020 extending the tariff
freeze for a maximum period of 90 days or until the tariff
table that responds to a Transition Agreement enters into
force, whichever comes first. This begins a new Integral
Tariff Renegotiation Process, whose final result is a Definitive
Renegotiation Agreement within a period of less than two
years. This negotiation corresponds exclusively to the
regulatory bodies, authorizing them to set transition rates
and the possibility of segmenting the tariff categories.
On March 21, a new transitional tariff table was established
through ENRE resolution No. 79/2021, readjusted by 9% by
resolution No. 106 of April 30, 2021, pending the Integral
Tariff Renegotiation Process.
ENRE approved new tariff tables via resolutions Nos. 263 and
266/2021, applied as of August 1, 2021, which only modify
the Stabilized Seasonal Price for Demands Greater than
300 kWh-month provided for by Resolution 748/21 issued
by the Ministry of Energy. This, without producing changes
in the Added Value of Distribution that Edesur receives and
going through its application the average rate of 5,020 to
5,176 $/kWh (+3.1%).
2021 Management
Sales of energy
In 2021, Edesur delivered electric power service to 2.5 million
customers. Of the total, 88.15% are residential customers,
10.64% commercial and 1.21% industrial and others.
At the end of the period, it reached a market share of 15.3%,
in terms of the demand supplied by Edesur over the total
demand in Argentina.
At the end of the year, energy sales reached 16,735GWh,
including the distribution service (toll) to large users, 5.3%
higher as compared to 2020. This was distributed in 43.19%
to the residential sector, 31.04% to the commercial segment
and 25.77% to the industrial sector and others.
Energy loss
In 2021, the mobile annual loss rate - technical and non-
technical - reached 18.04%, registering an improvement
compared to 2020 (18.92%) thanks to the different actions
carried out to improve the loss rate. Some of these actions
included digitalizing the electrical balance process,
improving the effectiveness of reading and customer
normalization. This result was also due to an improvement
in the pandemic scenario in Argentina compared to the
previous year (relaxation of social isolation measures),
reflecting an increase in the consumption of large customers
(industries, businesses, among others).
SAIDI/SAIFI performance
The SAIDI (one of the service quality indices) improved in
2021 as compared to 2020, reducing its value by 43 minutes,
with a final value of 797 minutes, according to Enel criteria.
The value reached by the SAIFI during 2021 was 4.86 times.
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Brazil
Distribution
Hydroelectric Generation
Solar Generation
Thermal Generation
Wind Generation
Enel Dx Ceará
2.9
Million customers
Enel Dx Goias
3.2
Million customers
Enel Dx Sao Paulo
7.9
Million customers
Enel Dx Río
4.0
Million customers
Enel Distribución Sao Paulo
Concession Area: Enel Distribución São Paulo
is present in 24 cities in the Metropolitan
Region of São Paulo, including the capital,
Brazil's main economic and financial center.
Its concession area totals 4,526 km2.
Duration of the Concession: 30 years from
1998.
Enel Distribución Rio de Janeiro
Concession Area: 73% of the State of Rio de
Janeiro, which consists of 7 million inhabitants
spread over 66 municipalities, including
Niterói, São Gonçalo, Petrópolis, Campos and
Cabo Frio, over a 32,615 km2 area.
Duration of the Concession: 30 years from
1996.
Enel Distribución Ceará
Concession Area: covers a 148,921 km2
concession area in northwestern Brazil. The
Company serves a population of more than 9
million inhabitants.
Duration of the Concession: 30 years from
1997.
Enel Distribución Goias
Concession Area: the company is located in
the center-west part of Brazil, covering a
336,871 km2 concession area. It serves a
population of more than 7 million inhabitants.
Duration of the Concession: 30 years from
2015.
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Tariff regulations
Part A costs include:
Electricity tariffs are adjusted annually by ANEEL, through
the Annual Tariff Adjustment, the Periodic Tariff Review,
and the Extraordinary Tariff Review. Adjustments are made
annually, tariff revisions every 3, 4 or 5 years, depending on
the concession contract and extraordinary revisions when the
economic-financial balance has to be reviewed.
ANEEL divides the revenues of distributors into two parts
corresponding to the following costs: a) those that the
distributor cannot manage, called Part A costs; and (b) those
that may be managed by the distributor or Part B costs.
(i) the costs of acquiring electricity obtained in the public
auctions of the ANEEL
(ii) costs of purchasing electricity from Itaipú Binacional;
(iii) electricity purchase costs in bilateral contracts.
Part B includes distributor management costs, such as
capital costs and functioning and maintenance costs, known
as operating costs.
The last tariff revisions of Enel's distributors were carried out
in 2018 (Enel Distribución Rio and Enel Distribución Goiás)
and 2019 (Enel Distribución Ceará and Enel Distribución São
Paulo). The next ones will take place in 2023.
The latest tariff modifications are summarized below:
Tariffs Adjustment Date
High voltage
Low voltage
Average adjustment increase
March 2021
April 2021
June 2021
October 2021
+10.38%
+10.21%
+3.67%
+14.21%
+4.63%
+8.54%
+11.38%
+17.32%
Company
Enel Distribución Rio
Enel Distribución Ceará
Enel Distribución Sao Paulo
Enel Distribución Goiás
Tariff flags.
In addition to the adjustments and revisions, the tariff flag
system has been in force in Brazil since January 2015. This
mechanism shows consumers the real costs of electricity
generation, divided into three flags: green, yellow and red.
The green flag indicates that the cost of energy production
is lower and no changes apply to energy tariffs. The yellow
and red flags represent an increase in the cost of energy
production and an additional charge is applied to the
energy tariff. The definition of the flag that will be billed
by consumers is approved by ANEEL every month. On
August 31, 2021, due to the water crisis, a new tariff level
was created above the red flag, Water Scarcity Flag, which
has been in force since September 21 with a surcharge of
R$142/MWh.
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2021 Management
Sale of energy
En 2021, las distribuidoras de Enel Brasil prestaron servicios de electricidad a más de 18,4 millones de clientes. De este total,
el 89% son clientes residenciales, el 5% comerciales y el 6% industriales y otros.
Type of
customers
Residential
Commercial
Industrial
Toll
Others
Total
Enel Distribución Sao Paulo
Enel Distribución Ceará
Enel Distribución Goias
Enel Distribución Rio
Total
Millions of
customers
Varia-
tion
Millions of
customers
Varia-
tion
Millions of
customers
Varia-
tion
Millions of
customers
Varia-
tion
Millions of
customers
%
2021
%
2021
%
2021
2021
7,544
448
29
3
28
2020
7.392
445
30
3
27
8,053
7,896
2.1%
0.9%
-1.3%
-1.6%
2.9%
2,0%
2020
3.176
183
6
0
3.247
174
6
1
2020
2.753
219
9
0
2,834
212
9
1
2.2%
-5.1%
-9.1%
22.4%
-2.2%
3.0%
-3.2%
-3.3%
29.8%
4.2%
2,6%
2,801
136
4
1
89
631
645
236
226
284
-68.7%
984
1.183
-16.8%
4,057
4,011
1,2%
3,291
3,207
3,030
2,948
2,8%
18,431
18,062
2,0%
2020
2.528
132
3
1
%
2021
2020
10,8%
16,426
15,848
2.3%
8.7%
13.2%
969
47
5
978
48
4
Varia-
tion
%
3.6%
-0.9%
-2.0%
6.4%
At the end of 2021, energy sales totaled 80,382GWh, 3.2% more than what was sold in 2020, mainly due to the recovery of
demand after the pandemic. It was distributed the following way: 40.3% in the residential sector, 24% in the commercial
segment and 35% in the industrial and other sectors.
The net increase in physical sales was led by the residential sector, where the increase in customers was evident. Commercial
and industrial sales fell due to the tendency of these segments to change their status to free customers.
Enel Distribución Sao Paulo
Enel Distribución Ceará
Enel Distribución Goias
Enel Distribución Rio
Type of
customers
Commercial
Industrial
Toll
Others
Total
Residential
16,569
16,074
2021
2020
GWh
GWh
7,836
2,169
9,375
2,620
12,132
10,856
2,380
1,426
Varia-
tion
%
3.1%
-16.4%
-17.2%
11.8%
67.0%
2021
2020
GWh
5,178
1,534
563
2,589
2,867
GWh
4,910
1,676
596
2,119
2,565
Varia-
tion
%
5.5%
-8.5%
-5.5%
22.2%
11.8%
2021
2020
GWh
5,617
1,976
532
3,385
3,566
GWh
5,382
1,972
3,328
3,133
41,087
40,350
1.8%
12,731
11,866
7.3%
15,076
14,469
Varia-
tion
%
4.4%
0.2%
1.7%
13.8%
4.2%
654
-18.7%
Total
2020
Varia-
tion
%
2021
2020
Varia-
tion
2021
GWh
5,065
1,472
149
2,618
2,184
GWh
4,825
1,562
180
2,628
2,033
11,489
11,228
%
GWh
GWh
5.0%
32,429
31,191
4.0%
-5.8%
-17.0%
12,818
14,586
-12.1%
3,413
4,049
-15.7%
-0.4%
20,725
18,931
7.4%
2.3%
10,998
9,156
80,382
77,913
9.5%
20.1%
3.2%
164
Integrated Annual Report Enel Américas 2021
Energy loss
In 2021, the total loss rate reached 12.9%, registering a 0.35 p.p.
improvement as compared to 2020 (13.2%). In general terms,
the loss level was affected by the Covid-19 pandemic and the
water crisis, with a deterioration of economic conditions for
consumers and an increase in the identification of irregularities.
However, as a result of the action plan focused on losses
throughout the year, all distributors in Brazil registered an
improvement in this indicator, with the exception of Enel
Distribución Ceará, which failed to reverse the negative
macroeconomic scenario.
The details of the losses recorded by the Brazilian distributors are presented in the following table:
Companies
Enel Distribución Sao Paulo
Enel Distribución Goiás
Enel Distribución Rio
Enel Distribución Ceará
Total
SAIDI/SAIFI performance
In 2021, the DEC and FEC quality indicators of Enel's distributors
in Brazil showed an 8.3% and 12.7% improvement respectively.
The consolidated DEC of the distributors ended the year with
47.4 hours and the FEC with 22.8 times. All distributors showed
a reduction in both indicators, except for Enel Goiás, which
registered a DEC 13.8% higher than the one registered in 2020,
due to adverse weather conditions in the concession region.
Colombia
Energy Loss
2021
10.3%
11.3%
20.5%
16.1%
12.9%
2020
10.6%
11.4%
22.1%
15.9%
13.2%
Increase
(Decrease)
(0.3 pp)
(0.1 pp)
(1.6 pp)
0.2 pp
(0.3pp)
The main highlights could be seen at Enel Ceará, where both the
DEC and the FEC showed an improvement (-27.1% and 18.9%)
resulting from an action plan established together with the
regulator and implemented at the end of 2020. Enel Rio also
had a significant reduction of 20.6%, as a result of investments
in automation and remote controls made in recent years.
Codensa
Concession Area: supplies energy to more
than 110 municipalities, mainly
Cundinamarca, covering a 26,093 km2
concession area.
Duration of the Concession: indefinite
First distributor in the country with a 20.8%
market share.
Codensa
3.7
million customers
Enel Américas Group´s Business 165
Distribution
Hydroelectric Generation
Solar Generation
Thermal Generation
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Tariff regulations
The current regulatory framework (2019-2024) of the
distribution activity mainly includes the following variables
for the remuneration of investments and administration and
maintenance costs:
• Rate of return (WACC) of 11.5% pursuant to resolution
CREG 016-2018 and modified by Resolution CREG 07-2020
• Recognized administration, operation, and maintenance
expenses of 4% for new Tier 1 and 2 assets, 2% for new
Tier 3 and 4 assets
• Remuneration of Other Required Assets (Non-Electrical
Assets and Land).
• Incentives for compliance with supply quality standards.
In December 2021, the regulatory rate of return was updated
to 12.09% (Res. CREG 215 of 2021), as a result of the tax reform
"Social Investment Law" - Law 2155 of 2021 that modified the
income tax. That WACC shall start to apply from April 2022.
2021 Management
Sale of energy
In 2021, Codensa delivered electric power service to
3.7 million customers. Of this total, 89% are residential
customers, 9% commercial, 2% industrial and others.
At the end of the period, it reached a 20.95% market share in
terms of the number of customers in Colombia. Energy sales
reached 14,598GWh, including the distribution service (tolls)
large users, 5.5% higher as compared to 2020, as a result of
the economic reactivation after the impacts derived from
the Covid-19 pandemic.
Sales were distributed by sector as follows: 37% residential
sector, 15% commercial sector and 48% industrial sector
and others.
Energy loss
In 2021, the Company managed to reduce the energy
losses of its distribution system in a market still affected
by critical conditions caused by the pandemic. Through an
energy recovery plan, it was possible to ensure the correct
functioning of the measuring equipment and normalize
non-customer users directly connected to the network.
The inspection plan for 2021 reinforced the actions aimed
at improving the targeting and detection of anomalies
associated with the measure, thus achieving a recovery
of unregistered consumption of 59.51GWh, which allowed
reducing the loss rate by 0.9 percentage points.
The loss index has maintained a downward tendency in
recent years, achieving a 7.53% value in 2021.
SAIDI/SAIFI performance
In 2021, Codensa continued to work on important
infrastructure projects focused primarily on improving
service quality, sustainability, and growth, obtaining
important achievements and advances despite the
contingency generated by the Covid-19 pandemic.
One of the most relevant results was obtained by improving
the average annual interruption frequency reaching a value
of 5.2 times (SAIFI) and a duration of interruptions (SAIDI)
of 402 minutes, according to the calculation methodology
approved for the Enel Group.
166
Integrated Annual Report Enel Américas 2021
Peru
Distribution
Hydroelectric Generation
Solar Generation
Thermal Generation
Wind Generation
Enel Dx Perú
1.5
million customers
Enel Distribución Perú
Concession Area: The concession area
covers about 1,602 km2, extending over the
northern area of Metropolitan Lima, the
Constitutional Province of Callao, and the
provinces of Huaura, Huaral, Barranca and
Oyón, covering 52 districts of the
provinces mentioned exclusively and
another five in a shared way with the
distribution company of the southern zone.
In 2020, Enel increased its concession area
in Norte Chico by 52.12 km2, electrifying the
Caral Population Center , benefiting small
farmers, agro-industrial and mining
companies.
Duration of the concession: indefinite
Tariff regulations
The process to establish the distribution rate in Peru is
carried out every four years and is called "Distribution Value
Added Setting " (Spanish acronym VAD).
Peruvian regulation follows the regulatory scheme of a Model
Company establishing in each tariff process the investment
and operation and maintenance costs necessary to meet
the demand in the concession area, which will be recognized
WACC real Before Taxes
Regulatory period
Period (years)
for each distribution company under the parameters and
criteria defined by the Osinergmin (regulatory entity). The
VAD is set individually for each distributor with more than
50,000 customers.
The last tariff process corresponds to the 2018-2022
period.
12%
Nov 2018 – Oct 2022
4
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2021 Management
Sale of energy
In 2021, electricity was delivered to approximately 1.5
million customers, a 2.5% increase as compared to 2020.
Of these, 94.1% correspond to residential customers, 4.1%
to commercial customers, 0.1% to industrial customers and
1.8% to other types of customers.
During the period more than 334,801 inspections were
carried out, equivalent to a 12% increase as compared to
the previous year, which achieved an additional 149GWh
billing for unregistered energy consumption, equivalent to
74 million soles.
Energy sales to end customers reached 8,130GWh,
representing a 7.3% increase as compared to 2020. This was
mainly due to a recovery in customers' energy consumption
after the economic slowdown registered in 2020 due to the
pandemic.
Energy loss
At the end of 2021, the indicator of total accumulated energy
losses was 8.5% lower than the 8.8% registered in 2020.
Enel Distribución Perú is making constant efforts to reduce
energy losses arising from technical factors (such as, for
example, the extension of the network or the impact on
the climate), as well as unwanted situations associated with
energy theft. In 2021, a special plan designed to combat
energy theft was continued, which has the support of
various divisions of the Company, as well as the National
Police of Peru.
SAIDI/SAIFI performance
The quality of the electricity supply is controlled by
Osinergmin, using internationally recognized indicators and
according to the monitoring reports of the 13 electricity
distributors located throughout the country. These indicators
are mainly related to the frequency and duration of power
supply interruptions.
The internal indicator of Average Interruption Frequency per
Customer (SAIFI), was 2.34 times per year in 2021, improving
from 2.59 times in 2020. The reduction was mainly due to
the effective maintenance and investment plan for network
expansion, reinforcement, and automation.
In 2021, the internal indicator of Average Interruption Time
per Customer (SAIDI) was 414 minutes (time accumulated
in twelve months), an improvement as compared to 2020,
when the level of 419 minutes was obtained.
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Integrated Annual Report Enel Américas 2021
Innovation and digitalization as the focus of operations
For Enel Américas, innovation and digitalization are the key pillars of its growth strategy permitting to guarantee high standards
of safety, efficiency, and security in business operations, in an environment that changes rapidly and imposes new challenges.
Digital tools are at the heart of the Company's ongoing search for the safest way to perform the tasks in its generation,
transmission, and distribution operations:
Main innovation and digitalization activities in the generation and
transmission segment
Smart Glasses: smart devices that allow supervisors to
work safely, minimizing occupational risks and carrying
out activities more accurately. This way, supervisors can
share and receive documents, review plans in real time and
high definition, as well as stay in touch with experts and
technicians worldwide. In 2021, this technology made it
possible to carry out audits, inspections, failure analysis,
maintenance, and operation with the necessary support. It
was also possible to reduce the loss of production during
inspections and search for solutions to operational problems
on site.
Use of drones for inspections: in 2021 the implementation
of drones for the recognition of facilities and surroundings,
and inspection of equipment and structures of the plants
was continued. This, in order to identify operational or
physical anomalies, which allow an action plan for the safety
of employees. Drones have made it possible to minimize
diagnostic times and be efficient in costs, obtaining relevant
and timely information in the event of a contingency. This
technology is used in all countries where we have a presence
in the generation and transmission sector.
RoBoost: program that aims to integrate and distribute
robotics in the operation and maintenance activities of the
plants, aiming to create added value and increase safety and
operational efficiency, leading to cost savings. The robots –
drones and Remotely Operated Vehicles (Underwater ROVs) –
are used to inspect and monitor assets that located in high,
confined or submerged spaces. This BlueROV technology is
particularly important in Brazil for underwater inspections.
The implementation of this initiative replaced diving activities
in hydroelectric power plants, as it is now possible to inspect
areas that could not be previously reviewed reducing the
risks involved and the costs associated with carrying out
inspections through diving companies. RHIINO in Colombia,
a Rover-like robotic platform that can enter confined spaces,
measure the concentration of dangerous gases, and warn
of the state of the atmosphere, illuminate, and send 360°
videos to carry out safe inspections remotely. It is under
execution.
Automation and Remote Control of Power Plants: the
projects to automate and carry out the remote control of
the hydroelectric plants that are close to each other are
still being implemented. In Peru, automation and operation
via remote control continued to advance towards the end
of 2021: 85% of the Huinco and Huampani plants project
are completed, with their completion expected by 2022 in
conjunction with the Matucana plant. The same automation
and remote control process began in 2021 in the Betania,
Quimbo and El Guavio power plants in Colombia.
PesAGHO (Predictive System and Analytics for Global Hydro
Operation) and other systems using the combination of
historical data and mathematical algorithms, have been
implemented to perform predictive maintenance of
hydroelectric plants to prevent their unforeseen detention.
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Main innovation and digitalization activities in the distribution segment
Telecontrol: project that seeks to automate medium
voltage networks using remote control equipment and a
management system to remotely monitor networks.
Grid Blue Sky: Enel Group's platform has significantly
improved the monitoring of power supply disruptions to
customers. It has reduced the synchronization times of
distributors’ information and improved remote assistance
through the use of new tools made available to the
specialists in the area.
digitization of the grid and its surroundings, along with real-
time data and predictive maintenance to mitigate the risks
of extreme weather conditions, fires and floods and also help
measure and mitigate carbon emissions and noise pollution.
Massive installation of Smart meters: this project will permit
to make savings in operating costs, improve technical and
commercial processes, ensure greater customer satisfaction
and greater efficiency in the collection processes, among
other benefits.
Urban Futurability in São Paulo, Brazil, where Enel Américas
operates the megacity's distribution network. The Group
launched the project involving a virtual replica of the power
grid called the Network Digital Twin. It uses the complete
Enel Américas is convinced that the smart meter is a
strategic enabler to reach energy transition, which benefits
everyone, bringing efficiency and flexibility to the electricity
sector
Enel X leads the global energy transition
The world of energy is changing and opening to new opportunities. Enel X makes it possible for them to happen for everyone
and everywhere. Below are some projects implemented in the different countries where the Company operates:
Most important e-Mobility projects
Argentina
In 2021, the Company signed an agreement with Volvo for
the provision of 50 chargers, to be installed in its own and
third-party locations, so that Volvo owners can access a
public charging network. Deployment will begin in 2022.
The company also developed the Charging as a Service
product for the Colombian market offering recharging
solutions to companies. Enel X assumed the investments of
the electrical infrastructure, recharging among others and it
now provides the charging service. The first charging pilot in
the country was implemented for a fleet of 25 electric trucks.
Brazil
Peru
Enel X Brasil and Estapar, the largest parking network in the
country implemented the first intelligent semi-public electric
vehicle charging network. The objective of the project is to
promote electric mobility in the country and expand the
vehicle charging infrastructure.
Colombia
Initiatives were developed during the period in public and
private areas. In the first instance, the construction of two
new electro-terminals and the supply of 401 electric buses
for the Integrated Public Transport System (SITP) of Bogotá,
Transmilenio S.A. were carried out thanks to awarded contracts.
Some of the projects in the public area included the
first electro-stations network implemented in service
stations members of the state company Petroperú. This
initiative, promoted as part of the Framework Cooperation
Agreement signed by both companies to encourage
electric mobility in Peru, seeks to promote the economic
and environmental advantages offered by the use of
electric vehicles.
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Integrated Annual Report Enel Américas 2021
Most important e-Home projects
Argentina
At the beginning of 2021, public lighting rates were
renegotiated with the Buenos Aires municipalities of the
concession area.
provided to nine operators, in Bogotá, Girardot, Fusagasugá,
Soacha and Facatativá, among other municipalities.
Brazil
The Degustación Débito Automático was launched together
with the distributor offering a two-month trial of the Residential
Assistance product to the customer who adopts the automatic
debit payment model of their energy account.
Colombia
The company also developed the Charging as a Service
product for the Colombian market offering recharging
solutions to companies. Enel X assumed the investments of
the electrical infrastructure, recharging among others and it
now provides the charging service. The first charging pilot in
the country was implemented for a fleet of 25 electric trucks.
Peru
The Company signed an agreement with two additional
operators in Cundinamarca, thus increasing the coverage of the
joint billing service in the towns located in the coverage area.
Today this service is available to 1.7 million customers and it is
The Company achieved the digitalization of the sales of
household appliances through a local e-commerce solution
signing alliances with partners to operate the digital sale of
more than 170 leads per month of operation and more than
90 products available in the sales catalog.
Most important e-City projects
Argentina
Intelligent Lighting (Led): supply and installation of Led lights
in Lanús (3,822 Led), Berazategui (1,500 Led), Cañuelas (1,000
Led) and Ministry of Justice and Human Rights of the Buenos
Aires Police (eight prison units with 818 Leds).
Pole support:The Company renegotiated existing contracts
with telecommunications companies (Ufinet and Telecom)
and also signed new agreements (K-Net and MicroISP),
regularizing the use of light poles.
Brazil
The Company implemented a public lighting project in
the Municipality of Angra Do Reis, where 21 thousand
lighting points were modernized in a period of 24 months
and included the installation of services such as remote
management, control center, application and web portal,
better quality architectural lighting with energy savings, time
reduction without energy supply, improvement in citizen
security and quality of life in the neighborhood.
Colombia
During the first quarter of 2021, the company officially
delivered the airport electro-terminals, Suba and Usme
to Transmilenio S.A, in the city of Bogotá. This delivery
completed the first phase of the project which contemplated
the construction and commissioning of four electro-
terminals for the capital. The project now operates with 477
electric buses and 223 smart chargers.
At the same time, and as part of the light modernization
project to Led technology of the public lighting system of
the Bogotá Municipality, the company installed more than
22,000 lights in the towns of Ciudad Bolívar, Engativá and
San Cristóbal. More than 7,140 lights in the main avenues
were also modernized.
Peru
In 2021, the Company installed Led lights in the districts of
Cercado de Lima, San Miguel, Callao, San Isidro, and Pueblo
Libre. As part of the same project, we began the renovation
of public lighting in Norte Chico, which will see 38,600 new
lights installed in the Huacho, Huaral and Barran districts.
This project will be completed in December 2022.
The same year we also presented the report on the
replicability of the operation of the first electric bus in
Lima to the country. The aim of the report is to guide the
implementation of large-scale electrification. Similarly, we
also initiated the process of donating GSEP to the Urban
Transport Authority (ATU).
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Most important e-Industries projects
Argentina
Enel X Argentina and Banco Santander sealed an alliance
to provide and finance the purchase of energy efficiency
equipment for Argentine SMEs and other companies,
including solar panels and lithium batteries. The union of
two leading companies will allow the country's companies
of all sizes, to accelerate their path towards the use of
clean energy. This agreement will allow Enel X to design
tailor-made solutions for each of the customers under
the "turnkey" modality and Santander Argentina will offer
financing with terms of between 4 and 5 years, so that
customers will be able generate substantial savings in tariff
and efficiency in consumption.
Brazil
Enel X installed a photovoltaic project for Banco Bradesco
with 18,550 photovoltaic panels, distributed over a total
area of 246,431 square meters. It involves a CAPEX of
€10.3M to build, own and operate (BOO) nine photovoltaic
plants in three different states. The total installed capacity is
10.98MWp. In addition, there were 4,000 UBM supply points.
The total end of the 30-year asset life will provide an
estimated gross margin of €24.4M over 10 years, a total
of €74.6M.
Colombia
In 2021, Enel Codensa and Ufinet Colombia singed a
contract to initiate an expansion plan which involves installing
fiber optics in Bogotá and Sabana of Ufinet Colombia.
Codensa will provide the permanent advisory service with
regard to technical activities, community management,
HSEQ management, inspections, and accompaniment
before the Network Operator for the project of 1.2 million
Home Passed (HP)
In photovoltaic matters, the Company won the largest
tender for self-generation systems in the country in 2021,
in which 13 solar systems with a capacity of 37.4 MW were
awarded in a single process for eight of the most important
companies in the commercial and industrial sector, among
which are: Éxito, Eternit, Corona, Cementos Tequendama,
Central Cervecera, Club los lagartos, Carvajal and Postobón.
The duration of this contract is 12 years. This will allow the
Company to consolidate itself as the third company with
the most MW of self-generation developed.
Peru
The company carried out the Electrical Infrastructure project
to the tunnel boring machine of line 2 of the subway in
Lima This permits the business line to enter a new area and
contribute to spreading the brand outside the Company's
concession area. Large-scale projects, such as this one,
enable Enel X Peru to position itself as the main partner in
the use of energy.
As part of the development of the country’s new clusters,
we would like to the first ever energy storage system BESS
with a 500kW capacity for Pamolsa, a plastics company.
Thanks to this initiative, the customer will obtain various
benefits such as improving the quality of energy and peak
shaving service for a period of 10 years that will permit them
to obtain sustained savings.
A project worth highlighting is consolidating the Company
as a pioneer in Peru by installing the first large-scale energy
storage system known as "behind the meter". This service will
permit industrial customers to reduce power charges and
transmission tolls recorded during peak hours. At the same
time, the Peak Shaving service for Pamolsa was completed
for 10 years. It is based on the installation of large capacity
smart batteries behind the meter, which will store energy
during low demand and discharge it at peak times thanks
to its artificial intelligence system.
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Integrated Annual Report Enel Américas 2021
Enel Américas Group´s Business 173
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
5. 2021
Management
Economic management
Enel Americas is investing in improving the resilience
of its asset portfolio, coupled with a strong commercial
strategy. The new opportunities lie in the integrated
commercial approach, where Enel X's new energy
services are key
Environmental management
Environmental protection is one of the Management
pillars of the Enel Americas Group.
Social Management
For Enel Américas, people are at the center
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Integrated Annual Report Enel Américas 2021
2021 Management 175
2021 Management
Financial Management
Relevant investments related to the Investment Plan
The global financing strategy of Enel Américas subsidiaries
and intercompany loans is coordinated in such a way so as
to optimize debt management, as well as the terms and
conditions of the Company's financing.
The subsidiaries develop independent equity investment
plans that are financed on the basis of internal fund
generation or direct financing. One of the goals is to focus
on the investments that bring long-term benefits, such as
projects related to moving energy transition to renewable
sources, achieving resilient, digital, and dynamic energy
distribution networks, and reducing energy losses, while at
the same time maintaining customers in the center of the
Company's services.
With Enel Américas focusing on providing services to all its
companies, the objective is to reduce investments at the
individual subsidiary level, in elements such as contracts,
telecommunications and information systems. Even though
the issue of how to finance these investments has been
considered as part of the Company's budget process, no
particular financing structure has been committed and
investments will depend on market conditions at the time
cash flows are required.
The Investment Plan is flexible enough to adapt to changing
circumstances, giving different priorities to each project
according to profitability and strategic fit. The investment
priorities are currently focused on developing mainly the
works plans in Brazil, Colombia, and Peru.
Merger by Incorporation of EGP Américas
On December 18, 2020, at the Extraordinary Shareholders'
Meeting, the Company’s shareholders approved the merger
by incorporation of EGP Américas into Enel Américas
(completed on April 1, 2021), whose purpose was to control
and consolidate the ownership of the non-conventional
renewable generation business and assets that EGP Américas
exploits and owns in Central and South America (with the
exception of Chile). Thanks to the merger, 4.7GW of installed
capacity were added to Enel Américas capacity, consisting
of 3.7GW in operation at the time of the merger and 1.0GW
achieved with the investments made by the Company from
the time of the merger until December 31, 2021.
In 2021, the Company invested US$2,971 million in Enel
Américas' businesses (US$1,033 million associated with
projects related to EGP Américas since the date of the merger
April 1, 2021 until December 31, 2021).
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Integrated Annual Report Enel Américas 2021
Most important 2021 financial operations
The global macroeconomic scenario during the period was
marked by economic recovery, despite the resurgence of
the Covid-19 pandemic, which was accompanied by an
inflation increase on a global scale, (4.9%). The US GDP in
2021 grew by 5.7% compared to 2020, while that of China
rose to 8.1%.
The IMF estimate for South America considered a 6.3% GDP
expansion during the period. Meanwhile, the economies of
the countries in which Enel Américas is present – Argentina
(10.3%), Brazil (4.6%) Colombia (10.6%) and Peru (13.3%) – led
the growth in a recovery context and a strong dynamism
of consumption, which led to an increase in inflation at
the regional level.
Most important corporate
financial operations
In 2021, the Company finalized the merger that allowed
Enel Américas to control and consolidate ownership of the
non-conventional renewable energy generation business
and assets that Enel Green Power SpA developed and
owned in Central and South America (except Chile). The
merger by incorporation of Enel Green Power Américas
into Enel Américas allows the latter to avail of new growth
opportunities.
• The Investment and Financing Policy remains unchanged
in the Corporate Governance structure of Enel Américas.
• In March 2021, Enel Américas negotiated a committed
line of US$1 billion over three years to cover its working
capital requirements.
• Enel Distribución Goiás: obtained intercompany financing
of BRL347 million (US$62 million) and bank financing of
BRL1,980 million (US$353 million).
• Enel Distribución Rio: obtained intercompany financing
for BRL3,445 million (US$615 million) and accessed bank
financing of BRL350 million (US$67 million).
• Enel Distribución São Paulo: secured bank financing
through BRL3,744 million (US$668 million).
Colombia
• Codensa: obtained bank financing of COP1,845,000
million (US$460 million).
• Emgesa: obtained bank financing of COP1,050,000 million
(US$260 million).
• EGP Colombia: increased its capital by COP660,000
(US$173 million).
Peru
• Enel Distribución Perú: accessed bank financing of
PEN445 million (US$113 million) and a sovereign bond
for PEN 108 million (US$27 million).
• Enel GX Peru: obtained bank financing of US$109 million.
• Enel Piura: achieved bank financing of US$38 million.
Brazil
• Enel Peru: completed bank financing of PEN620 million
(US$155 million).
• Enel Brasil: increased its capital by US$300 million, as a
result of the capital increase of Enel Américas due to the
merger with Enel Green Power.
• Enel Distribución Ceará: obtained bank financing of
BRL1,758 million (US$315 million).
2021 Management 177
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Operation in Brazil
Enel Brasil: In 2021 it increased its capital by
US$300 million, increasing the capital of Enel
Américas due to the merger with Enel Green
Power.
Operation in Colombia
Codensa: obtained bank financing of COP
1,845,000 million (US$460 million)
Operation in Peru
Enel Distribución Perú: accessed bank finan-
cing of PEN445 million (US$113 million). and
a sovereign bond for PEN 108 million (US$ 27
million)
Enel Distribución Ceará: obtained bank finan-
cing by BRL1,758 million (US$315 million).
Emgesa: obtained bank financing of COP
1,050,000 million (US$260 million)
Enel GX Perú: obtained bank financing of US$
109 million.
EGP Colombia: increased its capital by COP
660,000 (US$ 173 million)
Enel Piura: obtained bank financing of US$38
million.
Enel Perú: secured bank financing of PEN620
million (US$155 million).
Enel Distribución Goiás: obtained intercom-
pany financing for BRL 347 million (US$ 62
million) for BRL1,980 million (US$353 million)
Enel Distribución Rio: obtained intercompany
financing for BRL3,445 million (US$615 million)
and accessed bank financing of BRL350 mil-
lion (US$67 million).
Enel Distribución São Paulo: secured bank
financing through BRL3,744 million (US$668
million).
Investments made in 2021
In 2021, the Company's investments totaled US$2,971 million distributed as follows:
Millions of US dollars
Generation
Hydroelectric generation
and thermal pre-fusion
EGP
EGP Américas
Distribution
Enel X Other
Businesses
64
13
72
42
-
-
-
191
-
704
256
33
1
16
23
188
1,080
276
150
-
-
-
1,033
1,694
-
53
-
-
-
-
-
53
Total
252
1.850
604
225
1
16
23
2.971
Countries
Argentina
Brazil
Colombia
Peru
Costa Rica
Guatemala
Panama
Total business
Generation
Capital expenditure in the Generation Segment reached
US$1,224 million in 2021 (USD$1,033 for EGP projects),
while in 2020 it was US$168 million.
Argentina
plant, which ended in the first half of 2021.
Increase in demineralized water generation capacity: Also
in 2021, the expansion project was completed incorporating
a new Osmosis Plant plus a new Electro-deionization Plant
(EDI) that will increase the capacity of demineralized water
generation with less use of reagents for treatment.
Total investment was US$64 million in 2021 (mainly US$48
million in Enel Generación Costanera S.A. and US$15 million
in Central Dock Sud S.A.).
• Enel Generación Costanera S.A.: The main investments
consisted of:
Process inspections and control of operations with drones
and digital tools: The company continued to implement
digital tools such as the use of drones for inspections, new
tracking cameras and various programs and platforms for
better process control such as Power Dashboard, EtaPro,
among others.
New wastewater treatment system: for the Costanera plant,
connected to different collection points in the plant. The
new treatment system allows to discharge wastewater in
compliance with environmental approvals for the Costanera
• Central Docksud: The main investments consisted of:
Scheduled maintenance and installed capacity expansion
project: The company acquired parts and pieces
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Integrated Annual Report Enel Américas 2021
corresponding to the Scheduled Maintenance (HE) that will
be carried out on the Combined Cycle at the end of 2022.
The project is carried out at our Dock Sud plant, located
in Buenos Aires and has an installed capacity of 775 MW.
The components of the gas, steam and auxiliary turbines
will be upgraded to increase capacity and efficiency to
improve performance and competitiveness in the market. We
expect to increase installed capacity by 87 MW and improve
efficiency by 1.6%. The improved efficiency is expected to
reduce CO2 and NOx emissions by 3% and 29%, respectively,
as well as reduce total water consumption by 35%. We also
expect generation to increase by 1 TWh per year.
Brazil
Total investment of the Generation Segment in Brazil reached
US$717 million in 2021 (US$ 13 million of investments in
traditional hydroelectric and thermal generation and US$ 704
million in Enel Green Power projects, in the period from April 1
to December 31, 2021).
• Enel Generación Fortaleza made investments totaling
US$5.2 million primarily to maintain the availability of
generating units and operational safety.
• Volta Grande and Cachoeira Dourada: investments totaling
US$5.6 million, mainly to renovate and modernize turbines
in Cachoeira, renovate and modernize UG01, UG02 and
UG03 turbines, and modernize the speed and safety
regulator of Volta Grande reservoirs.
The EGP Brasil (Enel Green Power) perimeter was
incorporated into the Américas perimeter on April 1, 2021.
The investments made from that date reached US$704
million (April-December 2021 period), resources that were
mainly used to finish the construction of wind complexes
already incorporated into the installed capacity of Enel
Green Power at the date of the merger; Lagoa dos Ventos
and Lagoa dos Ventos II, the construction and expansion
of wind and solar projects that entered fully or partially
into operation between April 1 and December 31, 2021
into the complexes; Cumarú (partial start of operations
in 2021), Morro de Chapeu II (start of operations in 2021),
San Gonzalo (partial start of operations in 2021),Fontes dos
Ventos II (start of operations in 2021) , investments in the
start of construction of wind complexes not incorporated
in the installed capacity of Enel Américas as of December
31, 2021; Lagoa dos Ventos III (planned for 2022), Lagoa dos
Ventos V (planned for 2023), Aroeira (planned for 2023),
Pedra Pintada (planned for 2024) ) and maintenance of plants
in operation, the main ones being San Gonzalo (solar) and
Paranapanema (hydroelectric).
The following table presents a summary of the investments
made in Enel Green Power projects between 1 April and 31
December 2021:
Project Name
Lagoa dos Ventos
Lagoa dos Ventos II
Fontes dos Ventos II
Cumaru
Morro De Chapeau II
Sao Goncalo
Lagoa dos Ventos III y V
Aroeira
Pedra Pintada
Parapanema
Project Maintenance
Total invested
Technology
Finished
Pre-merger
Fully or substan-
tially finished
post-merger
In implementation
Total
Millions of US$ invested in projects
Wind
Wind
Wind
Wind
Wind
Solar
Wind
Wind
Wind
Hydroelectric
-
-
44
16
-
-
-
-
-
-
-
-
-
60
-
-
55
94
219
69
-
-
-
-
-
437
-
-
-
-
-
-
147
32
5
6
17
207
44
16
55
94
219
69
147
32
5
6
17
704
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The Central American perimeter was incorporated on April
1, 2021, the date from which the values revealed below as
investments as of December 31, 2021 (April-December 2021
period) began to be consolidated in Enel Américas.
Costa Rica
The investments were made pursuant to the Component
Health Status (CHS) valuations totaling US$ 0.7 million. These
investments to the PH Chucas plant included improving its
automation, changing sensors, and change Scada (updating
the monitoring system). The Company also invested in
changing parts and adjustments in the unit distributors.
Furthermore, safety improvements were prioritized, such
as changing access stairs in the dam and improving the
unit's lifting equipment (improving operational safety). In
the Don Pedro and Río Volcán plants, the Company repaired
the surplus channel, carried out the structural and electrical
maintenance of the transformers, installed new line switches,
and changed the cooling systems of the generation units.
Panamá
Panama's Investment Plan totaled US$23 million in 2021.
The main investments were related to the expansion of the
installed capacity of renewable origin, increasing it by 39MW
thanks to the completion of Jagüito and Progreso, two of
the three solar projects under construction. The Madre Vieja
solar project with a total capacity of 31MW remains under
construction and will start commercial operations in the
second half of 2022. In terms of operating investments,
progress was made with the preparation of the Pelton
impeller of the Fortuna hydroelectric plant, to improve and
guarantee the efficiency and availability of the Plant. Similarly,
digitalization investments and integral solutions were made
as part of the strategic commercial plan. Smart meters were
installed in 2021, offering several benefits to customers, such
as interval energy consumption monitoring, accurate remote
meter reading, and other advanced functionalities that help
improve service quality. The Company would also like to
highlight the investments made to strengthen cybersecurity
and improvements made in infrastructure – offices for the
well-being of employees.
Colombia
• Emgesa
Emgesa's total investment reached US$72 million in
2021. This included the required maintenance and
the expected investments were made demonstrating
the capacity and commitment to the operation and
maintenance of the plants. These include lining the Chivor
Batatas tunnel and equipment recovery in the Guavio
Power Plant, modernization and recovery of equipment
and infrastructure in the Bogotá River power plants. At
the same time, equipment engineering, testing, and
manufacturing for the automation and remote control
of the Bogotá River power plants continued. In terms
of growth investments, work was carried out for at the
El Quimbo Hydroelectric Project and the Bogotá River
Environmental Plan.
• EGP Colombia's total investment reached US$256 million
in 2021 (April-December 2021). The main investments
made in EGP took place in the Windpeshi projects, with
US$164 million invested in the period. It is a wind project
with an estimated date of commissioning in the second
half of 2023; La Loma, with US$77 million of investment
is a solar project with an estimated commissioning
date in the second half of 2022; Fundación with US$3
million of investment is a solar project with an estimated
commissioning date in 2023, and Guayepo, with a US$12
million investment in a solar project with an estimated
commissioning date due in the first half of 2023.
Perú
• The company invested US$42 million in maintenance
projects. These projects included automation and remote
control of hydraulic power plants; replacement cables
220KV G1,G2,G3 and G4 Huinco; replacement of core
and coils in G1 Matucana; maintenance activities and civil
works in hydraulic units, overhaul of 100K TV Ventanilla;
rehabilitation of Chimney TG8 Santa Rosa; rehabilitation
of TG4 Malacca blades; overhaul Malaccas TG4 (C6);
environmental projects to reduce harmful emissions in TG4
in Malaccas and maintenance activities in thermal units.
• In the EGP perimeter, investments related to the growth
plan reached US$33 million, mainly composed of Wayra
II, with US$19 million, and Clemesí, with US$6 million. It
is expected that both will enter into operation in 2023, in
addition to other maintenance investment project already
in operation and totaling US $ 8 million.
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Integrated Annual Report Enel Américas 2021
Guatemala
− Expansion of the Spegazzini substation (35 MVA mobile
Other relevant projects:
From April to December 2021, the Company made
investments totaling US$16 million. The main activity
was the repair of the Palo Viejo hydroelectric plant, which
suffered damage in the November 2020 Hurricane ETA that
caused landslides which destroyed sections of roads and
transport channels and caused reservoir flooding, damage
to bridges and the discharge duct of the powerhouse. The
plant returned to operating at 100% capacity in February
2021 and the total investment the year was US$12 million.
Additionally, US$1 million was invested in the Montecristo
plant to repair damage caused by a high-pressure pipe
rupture and powerhouse flooding in August 2021. The rest
of the investments were related to maintenance activities
and civil works in the hydroelectric plants.
Distribution
In 2021, the company made investments totaling US$1,694
million, mainly to meet consumption requirements, as a
result of demographic growth and new customers. This was
done not only in connection with these, but also in capacity
increases and reinforcement of the companies' HV, MV s and
LV facilities. The year before the Company made US$1,255
million investments focusing on expanding the distribution
service in response to the growing demand for energy;
optimizing service quality; improving safety and reducing
energy losses, especially in Brazil.
Argentina
In 2021, Edesur made investments totaling US$188 million to
meet demand growth and improve service quality. The most
relevant projects during the period are described below:
Replacement C.322/324. 2 TUNNEL MOP STAGE
• The replacement of 322 and 324 Triples within the Tunnel
of the Ministry of Public Works (MOP in spanish) that runs
from De Marchi Island (CABA) to Maciel Island (PBA) was
completed. It is an approximate distance of 450 meters (m)
per triple, assembly of transition joints at both ends, 1,000
mm2 replacement per cable, copper with dry insulation of
the XLPE type. Said work allowed to increase the reliability
of the electro-duct between the Costanera and Dock Sud
substations for generation transfer.
substation).
− New power supply and conversion Tres Sargentos
Substation (substation conversion).
− Replacement of Triple 226 Dock Sud – Corina
(replacement of 7.5 kms).
− Improvement in MV/LV network infrastructure
• Main actions focused on improving service quality
• To continue improving service quality, the Company carried
out various actions throughout the period, such as the
"Plan for the normalization of vulnerable neighborhoods",
"Technological improvements in the network", "Normalization
of neighborhoods", "Improvements in network systems" and
"Management of network maintenance".
• As part of the Summer Plan, the Company took the
necessary actions to resolve the unavailability in MV
and LV underground cables, MV equipment and remote
controls, to restore their normal operating conditions.
We also developed an extraordinary pruning plan in MV
feeders in Greater Buenos Aires. In 2021, the Company
also continued to install Alternative Energy Sources
(Spanish acronym FAE) for electro-dependent users.
All these actions are part of the Preventive Strategies Plan
aimed at strengthening the most critical facilities and
networks. The actions taken during the period guarantee
resource availability (material and human) necessary to face
the requirements that the demand and temperature impose
on our facilities.
Brazil
Total investment reached 1,080 million in 2021.
Enel Distribución Rio
Investments totaled US$212 million. 34% of this amount was
allocated to new connections, 31% to projects aimed at reducing
energy losses, improving the quality of distribution networks
with a positive impact on the services offered to customers
and remote control systems through the use of technology. The
rest was invested in maintenance of the distribution networks.
Enel Distribución Goiás
Investments totaled US$390 million. 31% of these were
used for projects to reduce energy losses and to improve
the quality of distribution networks. The Company invested
36% for new connections and 33% for the maintenance of
distribution networks.
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Enel Distribución Sao Paulo
Investments totaled US$287 million, of which 47% was used
for network maintenance, 33% in quality projects and 20%
for new connections.
Enel Distribución Ceará
Investments totaled US$191 million, where 53% was
allocated to increase new connections in the network and
support the recent sustained growth in demand in the State
of Ceará. 29% were invested in maintenance projects of the
distribution networks and 18% in improving service quality
and reducing losses.
Colombia
Codensa
Codensa's investments in 2021 reached US$276 million
• In order to maintain the improvement of quality indicators,
the Company invested US$63 million, mainly focused on
improving service quality and efficiency.
• To meet the new demand, capacity was expanded (US$12
million)
• Connections, standardization, and modernization (US$112
million).
• Expansion and maintenance of public lighting, and
implementation of photovoltaic projects oriented to B2B
(US$21 million).
• Development of Commercial Systems, digitalization, and
adaptation of commercial headquarters (US$16 million).
Perú
Enel Distribución Perú
Total investment in 2021 reached US$150 million
Energy demand is associated with new customer requirements, a
situation that has led to US$95 million investments in distribution
networks of which US$49 million was allocated to the expansion
and reinforcement of networks to meet the requirements of
residential, commercial, and industrial customers; US$ 5 million
for the electrification of human settlements; US$18 million in
expansion of the street lighting system; and US$23 million to
guarantee quality and security of supply.
• To improve energy losses, loss control (US$7 million) and
in addition to meeting the replenishment needs (US$26
million)
• Developing systems pursuant to company’s policy (US$19
million).
In terms of sub-transmission, US$13 million have been
invested in expanding the capacity and safety of substations
and transmission lines. A further US$14 million was allocated
to loss control and US$28 million to information systems
and infrastructure.
Investments forecast for the 2022 – 2024 period
The investment projections for the forthcoming years are
as follows:
For the next three years, Enel Américas is aiming to invest
a significant amount totaling US$8.9 billion, pursuant to
the 2022-2024 Strategic Plan, whose main objective
is to accelerate decarbonization, electrification and
digitalization.
Investment by business segment
55% of the Company's investments will be invested in the
Infrastructure & Networks segment, in the permanent search
for resilient, digitized and adequate networks responding
to the requirements of customers, 38% in the renewable
generation segment that will allow us to move forward to
the energy transition required by our planet’s emissions
level, around 2% will be used to maintain and improve
traditional generation sources that permit to reduce
emissions, approximately 3% of these investments will be
used to develop Enel X's initiatives, as a driver of new forms
of energy use, and the remaining 2% will be used to develop
the market of free customers, who will be able to negotiate
long-term rates for the Company's services in a better way.
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Integrated Annual Report Enel Américas 2021
2022-2024 investment by business line
Financial situation
Liquidity
US$
8.9 millions
38%
55%
3%
2%
2%
2022-2024 investment by business line
Renewable generation
Distribution
Enel X
Free customer market
Sources of traditional
generation
38%
55%
3%
2%
US$
8.9 millions
Investment by country
2%
61% of investments between 2022 and 2024 will be invested
in Brazil; 21% in Colombia, 10% in Peru, 7% in Argentina and
1% in Central America.
2022-2024 investment by country
Renewable generation
Distribution
Enel X
Free customer market
Sources of traditional
generation
61%
21%
Decarbonization will be possible by increasing renewable
generation capacity that will provide society with clean
energy. The Enel Group has recently announced its net-zero
emissions target for 2040. .
US$
8.9 millions
10%
7%
1%
2022-2024 investment by country
US$
8.9 millions
61%
21%
10%
7%
1%
Brazil
Colombia
Peru
Argentina
Central America
Brazil
Colombia
Peru
Argentina
Central America
The available liquidity has continued in a solid position, as
shown below:
• Cash and cash equivalents US$ 1,396 million
• Cash + cash eq. + placements over 90 days US$ 1,531
million
• Available committed credit lines (*) US$ 1,547 million
Debt
Net financial debt reached US$ 5,870 million, representing
an increase of 32.6% compared to the end of 2020, mainly
explained by higher net debt in Enel Brasil, in the distributors
of Brazil, in Enel Generación Perú and in Codensa, which was
partially offset by a decrease in net debt in Enel Américas
Holding.
Hedging Policy
Exchange rate
To mitigate the financial risks related to fluctuations in the
exchange rate and interest rate, Enel Américas has established
policies and procedures to protect its financial statements
from the volatility of these variables.
• The Enel Américas Group's exchange rate risk hedging
policy establishes that there must be a balance between
the currency of indexation of the flows generated by
each company and the currency in which they borrow.
Therefore, the Enel Américas Group has contracted cross
currency swaps totaling US$ 1,662 million and forwards
of US$ 1,074 million.
• To reduce volatility in the financial statements due to
interest rate fluctuations, the Enel Américas Group
maintains an adequate balance in the debt structure. For
the above, we have contracted interest rate swaps totaling
US $ 513 million.
(*) It includes four credit lines committed between parties related to Enel Finance International (EFI). One of them from Enel Américas for an available amount of
US$ 500 million, another from Enel Brasil for an available balance of US$ 143 million, another from EGP Peru for an available balance of US$ 24 million and another
from EGP Costa Rica for an available balance of US$ 10 million.
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Interest rate
The average nominal interest rate in December 2021
increased to 6.1% from 4.9% as compared to the same
period of the previous year, mainly influenced by the
inclusion of debt related to from the merger of the Enel
Green Power companies and an upward trend in the indices
associated with variable rates of debts in Brazil. This is
partially offset by better rate conditions in the refinancing
of debts in Colombia and Peru.
2021 investment and financing policy
Investment areas
As authorized by its Articles of Association, Enel Américas
can invest in the following areas: i) Contributions to
investment or setting up subsidiary or associated companies
whose activity is related or linked to energy in any of its
forms or nature or to the supply of public services or whose
main input is energy; (ii) Investments consisting of the
acquisition, operation, construction, leasing, management,
commercialization and disposal of all types of immovable
property, either directly or through subsidiary companies; (iii)
Other investments in all types of financial assets, securities
and transferable securities.
Maximum investment limits
The maximum investment limits for each investment area
shall be as follows:
i) Investments in its subsidiaries in the electricity sector,
those necessary to comply with their respective purpose,
with a maximum amount equivalent to 50% of the Total
Equity of the Consolidated Balance Sheet of Enel Américas
as of December 31, 2020;
ii) Investments in other companies outside the electricity
business, provided that at least 50.1% of the total Enel
Américas’ Consolidated Assets are in the electricity sector.
Participation in the control
of investment areas
To control the investment areas and pursuant to the
provisions of Enel Américas’ corporate purpose, as far as
possible, the Company will proceed as follows:
i) The shareholders' meetings of the subsidiary in related and
associated corporations will propose to appoint directors
who correspond at least to Enel Américas' participation in
them. Such persons must preferably come from among
the directors or executives of both the Company and its
subsidiary companies.
(ii) It will propose investment, financing and commercial
policies, as well as the accounting systems and criteria to
which they should adhere to the subsidiaries;
(iii) It will monitor the management of subsidiaries and
associated enterprises;
(iv) It will maintain permanent monitoring of the subsidiaries’
level of indebtedness.
Financing
Indebtedness ceiling
Enel Américas' debt ceiling will be established by a total
financial debt ratio (measured as Other Current Financial
Liabilities plus Other Non-Current Financial Liabilities), less
than or equal to 2.2 times of the Total Equity of Enel Américas'
Consolidated Balance Sheet as of December 31, 2020.
Administration powers to agree with creditors’ restrictions
on the distribution of dividends. Restrictions on the
distribution of dividends may only be agreed with creditors
if they have previously been approved at the shareholders'
meeting (ordinary or extraordinary).
Administration powers to agree with creditors’ on granting
guarantees. The extraordinary shareholders’ meeting shall
approve the granting of real or personal guarantees to
guarantee third-party obligations in relation to the essential
assets indicated below.
Assets essential necessary for the Company’s operation. An
essential asset for Enel Américas operations is the direct and/or
indirect participation which permits the majority of the shares
to maintin control or, alternatively, to implement shareholders'
covenants or agreements of Enel Brasil and Emgesa.
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Economic management
Customers at the heart of strategy
Enel Américas maintains a strong position, as it participates
in the entire renewable energy value chain, permitting it to
offer its customers an integrated offer of products and
services.
In the coming decades, clean electrification1 will become
a cornerstone and will be driven by the need to reduce
pollution in large cities. This process will require significant
investments and will extend to different industries, such
as transportation, construction, and manufacturing.
and services.
The electricity to be provided to customers must be
accessible, clean, reliable, secure, of high quality and
digitized. To achieve this, it is essential to count on a
resilient and digitized network, since customers will
increasingly demand a wide range of services. These
include electric mobility or other electric products and
services that did not exist before and are now seen as
basic.
Enel Américas is present in one of the largest cities in
Latin America and has the resources and experience
to lead this process. It is also committed to making a
significant effort to accelerate it by placing customers
at the center, since without them this process does not
make sense. The Company's strategic actions will aim
to maximize the value of this trend and it is adapting
its offering to one that transcends the concept of
commodity towards an integrated offering of products
Enel Américas today is even greener, more renewable and
with a more promising future, anticipating the trends it is
observing for the utilities sector in the region.
The Company is strengthening its Enel X business, through
which it currently has more than 3,319 charging points for
electric vehicles and continues to grow in other services
for the benefit of its customers. It is also expanding in
the free market, where it sold more than 20.3TWh in 2021
Electrification: key factor to maximize value for customers
One of the focuses of the Strategic Plan is to create value through electrification and digital transformation to support the
energy transition process, incorporating an active position related to customers. To achieve this goal, the Company has set
up certain focuses including the following:
Electrification as a central factor to maximize
value for customers
1
Increased service
quality
Leverage digital technologies to improve the level of services provided to
network customers.
2
Improve the relationship with
customers
1. New channels according to customer needs and new digital installations in
traditional channels.
2. Transparency to help customers better understand regulated
communications.
3
New services for new needs
Developing and launching new services for a smarter society: Fostering electri-
fications
Make life easier.
2021 Management 185
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with them through various communication channels: traditional and / or digital, with a special focus on Mobile Apps, new
functionalities, new payment channels and back-office automation to improve customer satisfaction, paying special attention
to complaints. All this will allow Enel Américas to maintain its leadership in the industry.
Enel X
The ways in which we use energy today open up opportunities for people, businesses, and cities.
• Enel X aims to offer the support needed for people to live in a smarter and more sustainable way, through innovative solutions
that respond to ever-changing requirements.
• The Company is simplifying the complex and creating opportunities for growth and progress for everyone, everywhere:
innovating and making inroads to give customers the opportunity to drive progress and change the world.
For people
For business
For cities
Transforming homes to make them smarter and simpler, more comfortable,
and sustainable, putting the customer in control of their home environment.
Transform businesses to unlock new values through simple, scalable, and
innovative solutions, with new opportunities and lower costs.
Transform cities to improve the quality of life by developing smart lighting
solutions and energy use, connectivity, and mobility.
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• Enel X plays an essential role in this process by creating and integrating the offer of products and services for all customers,
allowing them to access clean, safe and resilient energy, through electrification.
Enel X mission
Assist customers in decarbonization and more efficient use of energy through
electrification and digitalization.
Create new value by offering new products and services.
ELECTRIFICATION
B2C
e-Home
Affiliation Home Services,
HVAC & Green Products,
Smart Home Solutions.
Retail
Market development through
new capacity available to
achieve better conditions for
free market customers
B2B
e-Industries
Strategic actions
Flexibility services,
distributed energy, energy
management systems .
Focus on a customer base model to
take advantage of opportunities during
an energy transition scenario
B2G
e-City
Public lighting, smart city
services, public electronic
transport.
Attracting new customers in the
transition from a regulated market to a
free market
Commodity
E-Mobility
Financial
Services
UBB
Main indicators
Other relevant indicators
2021
2024
Lighting points
(mn#)
Charging points
(Public and private)
(th#)
0.8
3.3
1.2
10.3
e-Buses
(th#)
0.9
3.2
2021
2024
22
309
422
2,120
902
1,142
Responsible
demand
(MW)
Repair and
maintenance
services
(th#)
Credit
cards
(th#)
PV
(MWp installed)
30
88
Electrification is the main trigger that will allow this to happen, at a minimum, an electrification rate of 50% and more than 90%
of renewable energy generation must be achieved by 2050. Anything below that will mean a further increase in our planet's
average temperature, major social changes, and incalculable economic damage.
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Commitment to customers
Enel Américas will continue to invest in networks, as they
create resilient and digitized infrastructures. This means
better service for the customers of the network, permitting
the Company to increase customer satisfaction. Investment
in networks for the planned period will reach US$4.9 billion
and will be located mainly in Brazil, followed by Colombia.
The customer base and distributed energy will continue
to grow organically within the perimeter, expecting to
reach more than 27.7 million network customers by the
end of 2024. Over the next three years, the Company will
continue to invest in network resilience, flexibility and
quality, decreasing the two quality double digit indicators
to one digit.
Main indicators
2020
2021
25.6
26.2
Final users
(mn)
Distributed energy
(TWh)
115.2
119.8
SAIDI
(horas)
10.8
SAIFI
(frecuencia)
5.2
9.8
4.7
Lost energy
(%)
13.0
12.6
Smart Meters
(#)
95 th
141 th
Company
Energy sold (GWh)
Energy loss (%)
Customers (No.) in thousands
Edesur
Enel Dx Río
Enel Dx Ceará
Enel Dx Goias
Enel Dx Sao Paulo
Enel Codensa
Enel Dx Perú
TOTAL
Customer
Residential
Commercial
Industrial
Others
TOTAL
2021
16,735
11,489
12,731
15,076
41,086
14,598
8,130
2020
15,888
11,228
11,866
14,469
40,350
13,834
7,578
119,845
115,213
2021
18.0%
20.5%
16.1%
11.3%
10.3%
7.5%
8.5%
12.6%
2020
18.9%
22.1%
15.9%
11.4%
10.6%
7.6%
8.8%
13.0%
2021
2,549
3,030
4,057
3,291
8,053
3,709
1,491
2020
2,508
2,948
4,011
3,207
7,896
3,615
1,455
26,180
25,640
Energy sold by customer type GWh
Argentina
Brazil
Colombia
Peru
Edesur
Enel Dx Río
Enel Dx
Ceará
Enel Dx
Goiás
Enel Dx Sao
Paulo
7.666
3.684
1.271
4.114
5.065
1.472
149
4.803
5.178
1.534
563
5.456
5.617
1.976
532
6.951
16.735
11.489
12.731
15.076
16.569
7.836
2.169
14.512
41.086
Codensa Enel Dx Perú
Total
5.385
2.216
1.021
5.976
14.598
3.185
719
1.838
2.388
8.130
48.664
19.437
7.542
44.200
119.845
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Integrated Annual Report Enel Américas 2021
Concentration of customer
by business segment
invoiced in the name of the CCEE, regardless of the end
user of the energy.
The segments defined by the Company within its financial
statements are those of Generation and Transmission
and Distribution:
Given the volume generated by this transaction in 2021,
CCEE concentrates 25% of sales in the generation segment
as of December 31, 2021.
Generation and transmission segment
Distribution segment:
The main customers within the generation and transmission
segment are those who have freely hired the supply of
energy with the Company, and the auctions in which the
Electric Energy Commercialization Chamber (Spanish
acronym CCEE) regulates the purchase and sale of energy
between generators and distributors.
Energy sales incorporated into the Brazilian electricity
system as a result of the imports made by Enel Américas’
Brazilian subsidiaries from Argentina and Uruguay are
Environmental management
For Enel Américas, the environment is one of the pillars on
which is bases the implementation of all its business axes.
Environmental management consists of implementing
an environmental governance and policies that promote
moving beyond compliance with the reference standards
and encouraging the search for innovative and sustainable
solutions along the entire value chain.
The Company has defined standards and procedures that
facilitate an adequate identification and evaluation of
impacts, applying protection, reduction, and mitigation
plans, when necessary. It also promotes the dissemination
and exchange of best practices, encouraging continuous
improvement in line with its commitment to the
conservation of natural resources and nature-based
solutions.
As a signatory of the "Business Ambition for 1.5⁰C"
campaign promoted by the United Nations and other
institutions, in line with the criteria and recommendations
of the Science Based Targets initiative (SBTi), Enel SpA
has committed to moving forward the Group’s full
decarbonization by 10 years, that is to say, by 2040. A
project that began some time ago, since in 2010 Enel
reached 382MW of new renewable capacity and by 2021
The customers of the distribution segment are regulated
customers, and those who according to their consumption
volumes can negotiate rates freely with the distributor for
which they receive their denomination as a free customer.
Given the sale atomization made by electricity distributors
in each of the countries where Enel Américas operates, of
the more than 26 million customers none exceeds 10% of
the sales of the segment.
it plans to reach almost 5,000MW (an unprecedented
record with an increase 13 times greater than in 2010).
By 2030, the Group expects additional annual renewable
capacity growth to be around 15,000MW. An exponential
progress possible thanks to the largest pipeline in the
world, with a 371,000MW volume.
Enel SpA received an "A" List rating for its measures
against climate change on the list published by the Carbon
Disclosure Project (CDP). The Company was classified as
a leader in the CDP Water list, with a score of A- for its
management of water-related risks and opportunities.
This recognition represents the Enel Group's ongoing
commitment to fighting against climate change, one
of the most urgent challenges facing global society in
modern times and which involves serious actions by all
and effective actions by companies.
Aware of this challenge, Enel Américas has developed
a business model in line with the objectives of the Paris
Agreement to contain the average increase in global
temperature below 2°C above pre-industrial levels and
to continue to limit this increase to 1.5°C, in line with the
Enel Group's strategy and commitments.
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Enel Américas has put in place an Integrated Management
System consolidated within the Company's processes, including
international periodically audited standards. The environmental
management governance is carried out through a structure
in each business segment, complying with the processes and
regulations related to environmental management. To this end,
the Board approved the following policies that provide structure
for this governance framework:
Environmental Policy
Among other aspects, it indicates the necessity to maintain
ISO 14001 certifications and to rationalize and harmonize
certifications in the different areas. Furthermore, it promotes
the search for synergies and exchange of best environmental
management practices.
This Policy also contemplates ten strategic objectives in
which Enel Américas commits to actions beyond legal
obligations. For more details review the Policy on the
corporate website.
Enel Américas has put in place an Environmental Policy 1
which is part of the Enel SpA Group's environmental policy
in force since 1996. It was updated in 2018 and is based on
four basic principles:
• Protect the environment by preventing impacts.
• Improve and promote the environmental sustainability of
products and services.
• Create shared value between the Company and its
stakeholders.
• Adopt and fulfill voluntary commitments, promoting
ambitious practices in environmental management.
This Policy establishes the application of internationally
recognized Environmental Management Systems throughout
the Company and subsidiaries, based on the principle of
continuous improvement and the adoption of environmental
indices to measure the environmental performance of the
entire organization.
Biodiversity Policy
The Enel Américas Group's Biodiversity Policy was
approved by the Board of Directors and identifies six
practices to be implemented as part of the Company’s
activities. These contribute to and are in line with the
international standards and principles outlined in the UN
Convention on Biological Diversity (CBD), the UN Strategic
Plan for Biodiversity 2011-2020 and the Aichi Biodiversity
Targets for CBD, as well as other national and international
biodiversity strategies.
In compliance with this policy, the Company promotes
respect for the principle of "zero net losses", through
adequate project planning and preventive environmental
assessment (not net loss) of biodiversity, avoiding,
reducing and / or compensating for negative impacts
on relevant species and natural habitats, either by their
degree of protection, indices of representativeness and
/ or ecosystem value.
1. The Enel Group's environmental policy extends to the entire value chain and applies to all phases of production of each product and service, including the
distribution and logistics phases, in addition to related waste management; to each site and building; all relationships with external stakeholders; all mergers and
acquisitions; each key trading partner (including partners related to unmanaged operations, joint ventures, subcontracting or external producers); all suppliers,
including service providers and contractors; all due diligence processes as well as merger and acquisition processes
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Integrated Annual Report Enel Américas 2021
Integrated Management System
The Company has put in place an Integrated Management System, a tool that allows it to manage, direct and organize
the performance indicators of health, occupational safety, quality, and environment, establishing processes of continuous
improvement and allowing to mitigate risks preventively.
Certifications
The Company includes certifications of different ISO Standards that allow it to guarantee effective and efficient management.
Argentina
Brazil
Colombia
Peru
Costa Rica
Panama
ISO 9001:2015
ISO 14001:2015
ISO 45001:2018
ISO 50001:2011
ISO 55001:2014
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
Country
Colombia
Brazil
Argentina
Plant
EMGESA S.A
ENEL GREEN POWER S.P.A.
Certification
Norma ISO 14001:2015
Norma ISO 14001:2015
ENEL GREEN POWER VOLTA GRANDE S/A
Norma ISO 14001:2015
ENEL GREEN POWER CACHOEIRA DOURADA S/A Norma ISO 14001:2015
ENEL GREEN POWER S.P.A.
ENEL GENERACION EL CHOCON S.A.
ENEL GENERACIÓN COSTANERA
Norma ISO 14001:2015
Norma ISO 14001:2015
Norma ISO 14001:2015
Emissions management
Enel Américas’ indicator of direct greenhouse gas emissions (Scope 1) was 6.98 million t CO2eq in 2021. Below are the
Company's goals pursuant to the 2020-2022 Plan. For more details regarding emissions figures, please review Chapter 8 of
this Integrated Annual Report.
Activity/goal
Reduction of specific SO2 emissions
Reduction of specific NOx emissions
Reduction of specific dust emissions
Reduction of specific water needs
Reduction of waste products
*Versus 2017
Enel Group Goals Plan 2020 -2022*
-85% en 2030
-50% en 2030
-95% en 2030
-50% en 2030
-40% en 2030
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Main initiatives and recognitions by country
Country
Initiative/Recognition
Argentina
Brazil
Colombia
Peru
Convenio entre Enel Generación Costanera y la Facultad de Agronomía de la UBA (Fauba) para la evaluación
del montaje de una planta de fijación de dióxido de carbono a través de cultivos de microalgas en la central.
Esta iniciativa buscará potenciar la producción de microalgas mediante la inyección de CO2, permitiendo la
revalorización de las emisiones de la planta.
Electric vehicle
Global Power Generation initiative that consists of the replacement of a conventional vehicle by an electric
one, which would avoid the emission of GHG along with a reduction in the purchase of fossil fuels.
Electric Truck
Electric truck Enel Distribución São Paulo presented the first zero-carbon truck, a vehicle that stands out for
its low need for maintenance given its technical attributes.
Carbon bonds
Enel Distribución São Paulo, through the purchase of carbon bonds, compensated an amount of 3,000 tons
of CO2 equivalent, contributing to the conservation of 27,434.9 hectares of native Amazon Forest.
Codensa and Emgesa joined the Carbon Neutral Electricity Sector Alliance for 2050 and the Colombia Car-
bon Neutral Program. Enel also signed the Pact for Air in the city of Bogotá, an initiative through which the
different actors commit to concrete actions to help improve air quality.
Enel X received from the Ministry of the Environment the first Star of the "Carbon Footprint Peru" recognition,
for the collection of information that allowed calculating greenhouse gas emissions for the years 2019 and
2020 and contributing to goal 13 "Climate Action" of the UN SDGs.
Water Management
Reuse every drop of water to protect the planet's most precious resource.
Maximizing wastewater reuse is a crucial step in achieving SDG 6 and guaranteeing access to safe drinking water for all by
2030, helping to eradicate extreme poverty.
The Enel Group has integrated the sustainable development goals of the United Nations 2030 Agenda. In addition to the
specific targets for four of the 17 SDGs, dedicated to education, sustainable access to energy, socio-economic development
and action against climate change, the Company is committed to protecting water resources as an opportunity to combine
process sustainability and process efficiency.
Main initiatives by country
Country
Argentina
Brazil
Perú
Iniciativa
Mistras System: it is a continuous acoustic monitoring system, which allows to detect insipient faults in the
pressure system of steam generators of the Central Dock Sud
The thermal generation plant in the city of Fortaleza implemented two water-saving projects:
1. Cooling Tower Blowdown Recovery
2. Blowdown measurement of HRSG’s reused in the cooling tower
Global Power Generation Brazil has installed rainwater harvesting systems in its plants to supply a large part of
the water needs of the plants.
The implementation of the WAVE program continues, which is focused on reducing industrial water consumption
through an intelligent chemical control system in the cooling tower at the Ventanilla Thermal Power Plant.
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Biodiversity Management
The main interferences of Enel Américas' actions on
biodiversity relate to the occupation of natural areas for
the installation of structures and their associated impacts,
whether on the landscape, fauna, flora, or ecosystems.
These impacts are reduced in the initial stage, when an
exhaustive feasibility analysis is carried out and mitigated
by the environmental programs implemented during the
installation and exploitation phases and the operational
phases.
The Environment areas are responsible for the preparation
and management of any and all information/technical
documents related to environmental aspects, mainly those
that deal with obtaining environmental licenses. They carry
out due diligence activities, elaboration, their plans that are
based on the Policy on Biodiversity Policy whose approach
is the mitigation hierarchy, which takes place at all stages
of any project, from design to operation.
The identification and valuation of biodiversity and
ecosystem services of the territories in which the
Company operates is carried out in collaboration with
local communities, academic institutions, and NGOs. Based
on this, projects are proposed and developed for their
restoration, conservation, and monitoring.
Enel Américas is committed to keeping biodiversity
management aligned with best practices relevant to the
country where it operates. Therefore, before intervening any
ecosystem necessary to expand, renovate or maintain the
energy distribution system, the Company seeks the required
authorization from the competent environmental agency.
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Country
Initiative
Argentina
In 2021, a plant barrier was implemented in Central Costanera, in collaboration with the National Institute of Agricultural Techno-
logy (Spanish acronym INTA). This project involved planting 220 plants of six native species.
Protection of Indigo Macaw and biodiversity
The Delfina Wind Farm is developing the Program for the Conservation of the Indigo Macaw, an initiative that, by combining new
innovative technologies with the protection of biodiversity, has allowed the indigo macaw to fly freely in the Brazilian jungle again.
Indigo macaw is one of the hardest-to-find treasures of the caatinga, the largest dry forest in South America, spanning 10
different Brazilian states and is among the richest in the world in biodiversity. But the indigo macaw is also an endangered species.
Enel Green Power's hydroelectric plant is a complex system that works along the banks of the Rio dos Apiacás, with three
hydroelectric plants that were built listening to the needs of the local population, with the aim of transforming normal activities
into sustainable actions. It is the approach the Company took to preserve and enhance the variety and charm of an area of the
world's largest "green lung".
Brazil
Flora Rescue Program
To mitigate the impacts of the suppression of vegetation and vegetation and promoting the maintenance and conservation
of the diversity present in the region of the developments, the Flora Rescue program is developed. Through it the Company
can catalog the species that exist in the area and collect specimens of the species that exist in the area and collect specimens
from these local nurseries in which collaborations are established. These seedlings will also be used in recovery programs for
degraded areas.
Wildlife Rescue Program
The wildlife flight and rescue program aim at procedures for monitoring the suppression of vegetation and the review of activity,
the risk of accidents and death of wild animals during the implementation of projects, as well as to guarantee the safety of wor-
kers, avoiding accidents caused by encounters with poisonous animals.
Forest restoration
As a restoration measure, the Company has the PRAD Program -Recovery of Degraded Areas- and the Florestal Reposition
Program.
Surveillance of the waves in the vicinity of Delfina Wind Farm
Near the Delfina wind farm in the state of Bahia, Brazil, Enel Green Power's environmental and animal protection team uses
satellites and GPS systems to study and protect cats living in the area.
Enel Biodiversa
This strategy seeks to potentiate and make visible the actions taken in biodiversity in Colombia. This initiative has four strategic
axes: conservation, restoration and protection, value creation, communication and visibility and knowledge management. It
integrates the actions developed in favor of the protection of the environment and natural resources, the combat against climate
change and the contribution to sustainable economic development. It does this through the implementation of programs and
actions for the conservation, protection, and restoration of the country's biodiversity, as well as the creation of shared value and
the generation of knowledge.
Enel is committed to the restoration and conservation of tropical dry forests
The El Quimbo Hydroelectric Power Plant is located in southern Colombia, in the department of Huila, between the Oriental and
Central mountain ranges on the Magdalena River at an altitude of 720 meters above the tropical dry forest (BST) ecosystem. This
hydroelectric plant can meet approximately 4% of the country's energy demand. The Environmental License that approved the
construction of the Quimbo Power Plant (2010-2015) indicated that, as a biotic compensation measure, Enel-Emgesa should
carry out a process of ecological restoration for 20 years of the Tropical Dry Forest Ecosystem (BST) over an area of 11,079
hectares located in the jurisdiction of the municipalities of Gigante, Agrado, Garzón and Paicol in the center of the department
of Huila. Due to its extension, this Ecological Restoration Program on tropical dry forest is considered the largest of its kind in
the country.
Bosque Renace (Enel-Codensa Nature Reserve; Enel-Emgesa) is located in the Municipality of Soacha, in the hydrographic basin
of the Bogotá River, and connects the ecosystems located in the middle and lower basin, among which the Chicaque and La
Poma parks stand out. In the area, we work together with research entities to promote the culture of environmental protection
and, thus, recover the lower and middle basin of the Bogotá River, where companies have a presence.
Colombia
According to the Mini-
stry of Environment,
Colombia is the third
Lattin American
country
with the largest area in
forests.
It has 59.9 million
hectares
equivalent to 52.2% of
its territory.
Perú
Enel X Peru carried out its first biodiversity project called "Bicentennial Nest Boxes", an initiative that makes Lima the first city in Peru
to integrate spaces in favor of the reproduction of urban avifauna.
Panamá
Fortuna Hydroelectric Power Plant
Nomen omen. Place names usually hide evocative meanings. For example, Fortuna, a nature reserve covered by a lush river forest
located southwest of Panamá, does not require further explanation. The 19. 500 hectares on which it extends house about 1.
900 species of animals and plants and guarantee the livelihood of a community of farmers who live on what they grow in an area
of 500 hectares around the nature reserve. Here is also the largest hydroelectric plant in the country, with a 300MW capacity:
a sustainable park model managed since 2006 by the Enel Group. For this reason, a series of initiatives have been launched to
implement a fully sustainable management of the park and its territory, which is not limited only to the virtuous practices of the
employees
it requires an active participation of the entire local population in environmental and social activities.
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Social management
Focus on people: creating social value
Enel Américas places people at the heart of its attention and
actions. Therefore, it is committed to building a culture that
promotes diversity, under which all those who work in the
Company feel included and valued. They are moved by the
same purpose and have the same sense of belonging, and
where they can express their talent and grow recognized
in meritocracy.
The "gentle leadership" adopted and promoted by Enel
SpSA requires management to be able to transform the
role of the leader so that he or she evolves into someone
who works to achieve objectives, but who also deals with the
"why" and the "how". He or she is a leader who listens, who
cares about people, who works together with employees
and who makes talent shine, collecting, receiving feedback
and being aware of the needs and aspirations of the teams.
The fruit of the above is represented by Enel SpA's purpose
"Open Power for a Brighter Future".
Open Power
The Open Power vision and philosophy represent Enel
Américas as the benchmark for all people management
processes.
Trust, responsibility, proactivity, and innovation are the key
values of the Open Power approach. This is the basis of the
creation of an open and dynamic work environment, which
promotes risk-taking, sustainability management and the
integration of ethics and transparency in the way business is
done. These are the values that allow us to continue growing
and maintaining the commitments acquired with employees,
customers, and society.
Valuing and empowering people
As of December 31, 2021, Enel Américas' staff members
totaled 16,461 people, which represented a decrease of
269 people as compared to 2020 or a 1.6% reduction
in the Company's total staff members as a result of the
digitalization processes carried out in 2021. Additionally,
there was an 8.1% increase in the number of female workers.
For more details, review the metrics chapter of this Integrated Annual Report.
Total staff
2021
Senior executives and
other managers
Professionals and
technicians
Employees and others
Total
No of people
Women
Argentina
Brazil
Chile
Colombia
Costa Rica
Guatemala
Panama
Peru
Total 2021
8
20
-
13
2
3
11
7
Men
16
45
8
28
3
6
10
22
Women
59
1,732
13
749
7
13
16
296
2,885
Men
205
3,881
33
1,469
11
72
19
664
6,354
Women
470
42
Men
3,306
3,150
Women
537
1,794
0
0
0
0
3
0
3
0
11
0
35
0
515
6,505
13
762
9
16
30
64
138
Men
3,527
7,076
44
1,497
25
78
64
Staff
4,064
8,870
57
2,259
34
94
94
303
3,464
686
989
12,997
16,461
2021 Management 195
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
In 2021, Enel Américas reinforced its processes of
empowering people, transforming the leadership style
towards one characterized by excellence, motivation,
and purpose. This corporate culture is what will permit
the Company to face future challenges of the future,
making new skills necessary. This will make Upskilling1
and Reskilling2 strategies increasingly important for
companies to develop talent. Therefore, Enel Américas is
investing not only in technical tools, but also in relational
skills, which are aligned with the following objectives:
• Promote the quality of life and well-being of people
through responsible care, in a flexible, reliable, close,
challenging, and motivating work environment, which
allows generating a sense of pride and identity with Enel
Américas.
• Strengthen the leadership style, delivering tools and
capacity building that promote trust and the pursuit
of the purpose of the teams, enhancing the autonomy,
empowerment, proactivity, and diversity of the teams.
• Promote cultural change in the organization and develop
people’s capacities to digitize processes, encourage the
use of platforms and manage people’s effectiveness and
experience based on data.
• Understand people as strategic partners who challenge
and support the business, providing innovative, effective,
and integrated solutions that promote the development of
a sustainable organization and benchmark in the market.
Promoting cultural changes
Enel Américas adopted the Agile Methodology – a
collaboration model based on openness and flexibility –
to address the challenges of managing people in times of
change. As part of this methodology, interdisciplinary teams
develop projects through iterative processes, including the
participation of the end customer.
Agile Methodology
g il e : s u p p orts the transformation
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s
The Company implemented various activities to disseminate
the agile work environment in the Company’s different
subsidiaries. This provided people with the necessary skills
and knowledge to foster an adaptive and iterative approach
to project management and product development. These
activities include:
Agile Fullness Workshop: its objective is to disseminate in a
practical way the guiding principles, concepts and roles of
agility, for employees to be able to apply them in their own
work contexts and to understand why agility is the answer
to the VUCA world3.
In 2021, various workshops were held addressing these
issues in which more than 2,141 people participated4.,
among these workshops were the Agile way of working,
whose aim was to introduce the assistant to agility, or the
ability to respond to change, with techniques and tools that
are part of a management discipline that is known as "agile
methodologies".
1. Upskilling involves evolving the necessary skills within the same position or profile.
2. Reskilling refers to the acquisition of new skills to be able to pivot from one position to another, from one function to another.
3.An acronym used to describe or reflect the volatility, uncertainty, complexity and ambiguity of conditions and situations.
4.The scope of this information corresponds to the number of Agile Fullness workshop participants from Argentina, Brazil, Colombia, and Peru.
196
Integrated Annual Report Enel Américas 2021
Room Agile: in this activity, teams analyze the life cycle of
a problem, initiative, or project. During the process, tools
and methodologies are applied according to each case,
effectively solving complex problems, strategic decisions or
definition of new products or services in a short time. In 2021,
the company held different workshops addressing these
issues with the total participation of more than 770 people1.
Leadership and skills development
The current transformation scenario requires new skills
including ones the Company considers essential such as
flexibility and adaptation. The Company's goal is to provide
an experience that inspires and empowers people, along with
engaging and motivating them to reach their full potential,
providing them with opportunities for their personal and
professional development. This is why the Company’s
selection, hiring, training and development processes play
a fundamental role guaranteeing the continuous growth
of the business.
The new leadership model established 2021 focuses on
maintaining and promoting culture through a gentle
leadership style, encouraging people to express their
vocation, to listen with empathy and to give space to each
employee, because ideas and talent have no hierarchy. This
leadership permits to empower people, motivating the team,
increasing their well-being, and subsequently improving the
Company’s results.
As the beginning of the activities and initiatives that imprint
the new model on leaders, the Company implemented the
"Cycle of Talks for Enel Américas Leaders 2021: Strategy,
Leadership and Cutting-Edge Humanity". As part of the
New Leadership Model, workshops were held in Colombia
and the "LeadUp" program together with the "Virtuous
Workshop" in Central America were organized. Additionally,
Brazil continued with the Leadership Academy initiative
addressing practices and behaviors essential to leading
people and teams.
Training and development
• For the Company to grow in a sustainable way, it is essential
for its people to deploy their talents, enhance their
innovation, digital and technical capabilities, accompanying
Enel Américas’ transformation. During the period, the
Company and its subsidiaries provided more than 652,610
hours of training with a total investment of US$677,000 1.
To achieve that goal, it was essential to enhance and direct
people's existing talent towards new directions, through
reskilling programs and the development of different
skills through upskilling. The first are oriented at creating
new job profiles, through the learning of skills that allow
people to develop in a different role from their current
one. Upskilling, on the other hand, focuses on developing
existing professional skills to improve the performance of
their function.
With this in mind, the training strategy is mainly based
on two areas. The first is approached from a Bottom Up
perspective, in which self-learning and self-management of
professional development are encouraged. For this, there are
digital platforms that allow constant learning. To strengthen
this pillar, the Company forged an alliance with LinkedIn
Learning to offer a greater catalog of content to people and
thus motivate them to manage their own learning.
The second approach is Top Down, meaning that that all
training actions are aligned with Enel Américas’ strategy and
focused on achieving organizational objectives, involving
the Company's leaders.
To guarantee compliance with this strategy, the Company
has put in place a Training Policy, which allows to delimit
the general framework of action to establish and carry out
training activities in the companies that are part of Enel
Américas. These must contribute to consolidating and
achieving the Company’s values and objectives, allow the
personal and professional development of people through
the acquisition of knowledge and skills to update and
improve their performance, in addition to preparing them
to take on new professional challenges.
In 2021, the following programs were developed based on
the Company's five strategic pillars:
• Developing an Open Power culture: to strengthen this pillar,
the "Skills for the Future" program was implemented, which
seeks to develop the Enel SpA Group’s 15 competencies
through a catalog of courses that allow people to acquire,
improve or expand skills required for the future of work.
• Sustainability, HSEQ and D&I Program1: to strengthen this
pillar, the Diploma "New Energies and Smart Cities" was
made available to employees. It aims to address Enel X’s
main strategic motivations. The topics covered were Smart
Cities, electromobility, renewable energies, energy efficiency
in buildings and fundamentals of circular economy.
1. The scope of this information corresponds to the number of Room Agile workshop participants from Argentina, Brazil, Colombia, and Peru. For Colombia,
according to the GBS project, they also have people who participate in Global Agile Rooms.
2.This figure includes operations in Argentina, Brazil, Colombia, Chile, Peru, and Central America.
2021 Management 197
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes • Preparing for the future, Reskilling: to strengthen this
pillar, the Company entered into alliances with universities
to transfer new knowledge of the electrical world to
employees.
• Digital transformation and agility: the Company provided
its employees with concepts, management tools, work
methodologies and analysis techniques permitting them
to face the challenge of new technological and energy
environments.
• Customers and data in the center: a service quality
and customer satisfaction program - 4A on site. The
objective was to show that Enel Américas’ pillars of service
quality and Customer Satisfaction can be recognized,
understood, and applied on site in the operational reality,
based on the 4A (Acoger, Asistir, Asesorar y Agilizar or in
English Welcome, Assist, Advise and Expedite) and, this
way, increase customer satisfaction.
As part of the implementation of the five strategic pillars, the following initiatives were carried out in the country where Enel
Américas operates.
Argentina
Brasil
Colombia
Centroamérica
The Learning Community pro-
gram was implemented, which
is made up of the Leadership,
Digital, Agility,
Innovation and
Technical Academies respecti-
vely. Employees can choose the
courses that best suit their ne-
eds.
Additionally, the needs of each
Business Unit were met, which
arose from the detection mee-
tings, and the most relevant were:
Telework Training Day: Analysis of
Law 27,555 and its regulations,
ISO Courses, Annual Conference
on Corporate Accounting, Inter-
national Certification Program on
Ethics and Compliance, Training
Program for Energy Leaders,
Cybersecurity Audit Seminar,
Behavioral Sciences and Energy
Care Workshop, Electric Mobility,
among others.
Since 2019, the company has in-
vested in digital tools that support
employees in the management of
their activities, agile methodolo-
gies, and soft skills. In 2021, seve-
ral initiatives were implemented,
among which are:
Online training platform to gua-
rantee safe training.
In addition, live webinars were
offered, with expert collaborators
from the commercial areas.
Virtual Welcome Program, with
an integration period of three
days for new members.
Job rotation program, in which
people can work for a predeter-
mined period, in an area of inte-
rest different from the usual to
absorb knowledge that adds va-
lue in their area of activity.
Osmosis program, which seeks
to promote movement between
business lines to encourage the
exchange of knowledge and de-
velop transversal competences.
initiative of Corporate
The
University
continues, which
includes the Faculty of Open
Power values and the Faculty of
Digital Transformation, each with
a training offer where employees
register and become part of their
individual development plan of
the year.
Within the framework of the
Reskilling and Upskilling training
program, training was initiated
for two lines of business, along
with customer-focused training,
such as a Diploma in Customer
Service, Customer Centricity and
Customer Strategy.
In Central America, training pro-
grams were carried out in the fol-
lowing topics:
• Handling, operation, and safety
of Drones by O&M team.
• Use of Power BI tool to develop
technical skills.
• Relationship management with
people and businesses in the Re-
birth of Relationships program.
• Diploma of the Electricity Mar-
ket, covering topics such as fun-
damentals, regulations and tools
of the local electricity market and
relationship with the regional and
international market.
• Internal audit of ISO 37001 and
Anti-Bribery Management Sy-
stem (ESMS).
•HSEQ training on health and sa-
fety.
In general terms, in 2021 622,526 hours of training were delivered, corresponding to 84% to men and 16% to women.
1. Health, safety.
198
Integrated Annual Report Enel Américas 2021
People’s wellbeing
Post-natal maternity leave
In each of the countries in which it operates, Enel Américas has implemented different benefits for employees who become
mothers, depending on what is established by the relevant local regulations and what each subsidiary additionally chooses
to offer. Below are the main benefits:
Regulation for each country in which Enel Américas operates
Argentina
Brazil
Chile
Colombia
Peru
Centroamérica
Costa Rica:
Guatemala:
Three months paid maternity leave applying from 45 or 30 days before
birth, at employee’s choice.
120 days of paid maternity leave and five days paternity leave.
Paid maternity leave for the mother with 12 weeks full-time or 18 we-
eks, if she rejoins on a part-time basis. This leave can be transferred to
the father, for a maximum of six weeks, full-time, or a maximum of 12
weeks, if part-time.
Paid maternity leave of 17 weeks, and two weeks for fathers.
98 days paid maternity leave.
Panamá: licencia maternal con goce de sueldo de 14 semanas.
16 weeks paid maternity leave
12 weeks paid maternity leave
2021 Management 199
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Additional benefits provided by each subsidiary
Argentina
Extension of paid leave for an additional three months, a total of six months of paid leave.
Brazil
Chile
Colombia
It is linked to the Citizen Company program, a supplement of 60 days for maternity and 15 days for paternity.
Permits are provided for parents to attend medical check-ups with their children up to six months after birth.
Paternity and Maternity Leave: Paid Paternity Leave: in addition to the law and those established in the Col-
lective Agreement against the birth of a child, parents can request three paid working days in addition to the
Colombian Paternity Law.
Gradual Postnatal Return for Moms: Benefits Workers Who Have Been Mothers. They can make a gradual
return to work after maternity leave in order to facilitate the transition of detachment with the newborn. The
worker is granted the benefit of working one hour less until her child reaches 10 months, this hour is additional
to the hour of breastfeeding that they have by law.
Additional Maternity Leave: This benefit gives mothers the opportunity to enjoy up to three unpaid months in
addition to their legal maternity leave.
Parental Program: the parental program creates spaces for conversation with people who are in the moment
of life to become mothers or fathers, through interviews in which the boss and the business partner partici-
pate, support is shown in this new role, the balance between personal life is encouraged and work, the new
motivations are known and the necessary support networks are built.
Perú
Teleworking for three months.
Costa Rica = two additional weeks
Guatemala = 42 additional days
Costa Rica = dos semanas adicionales
Guatemala = 42 días adicionales
Central America
Centroamérica
Benefits
The Company has implemented a benefit plan its employees
as well as for their families. Among these are academic
excellence scholarship, activities aimed at the children
of employees, extended legal leave, birthday days and
recognitions for work trajectory.
normal" which involved issues as diverse as remote working
methods, workspaces, new technologies and psychological/
physical well-being to new leadership models.
Internal communication is also the main vector to disseminate
strategy and objectives. In this context, the following surveys
were conducted:
People dialogue
Open Listening
Enel Américas considers internal dialogue to be a vital pillar
within the creation of the Company’s corporate culture and
the growth of both its people and the Organization, stimulating
and promoting the exchange of information, knowledge, and
experience.
In the context of the changes of the recent health scenario,
including the digitalization of relationships, the Company
and its subsidiaries reviewed the way it communicates with
its employees. As part of the dialogue, the Company held the
Open Listening day: "An interview to build our future", in which
employees shared experiences and expectations for the "next
A survey that seeks to build the work of tomorrow. Taking
into consideration employees’ opinions, we inquired about
the organizational culture and the leadership model. The
latter explored the leader's ability to inspire and capture
needs in relation to the future of teleworking. The Open
Listening: Future Way of Working survey is aimed at all the
Company’s employees and seven categories were evaluated:
commitment, leadership, work model, well-being, digital
tools, cultural change, and work areas.
During the years 2020 and 2021, the survey was applied in
the countries where Enel Américas has operations with the
following results:
200
Integrated Annual Report Enel Américas 2021
Countries/ Regions
% of participation
% Level of well-being and commitment
Results: Open Listening(1)
Argentina
82%
81%
Brazil
80%
89%
Colombia
75%
95%
Chile
66%
93%
Perú
71%
88%
Central America
77%
91%
Well-being
The applied wellbeing survey was aimed at building the "Global Wellness Program" together. Its objective was to identify actions
and initiatives to improve the quality of life, referring to the eight pillars of the new Wellness Model: work-life balance, physical
and psychological well-being understood as being well with oneself, quality of social life outside and inside the company,
ethical well-being defined as coherence with one's own values, intellectual well-being as an incentive to train and improve, a
sense of security, economic well-being considered as certainty of the workplace and the value of one's own work.
Work flexibility
During the Covid-19 outbreak, Enel Américas quickly
incorporated measures to guarantee staff safety and
business continuity. This was a worldwide action made
possible by the work experience that Enel SpA started
in Italy in 2016 and gradually extended to the entire
Group. It was also feasible thanks to the technological
transformation launched in 2014, which led to the
integration of digitalization into the strategy, making Enel
SpA the first fully cloud-based utility company.
This way, the Company launched various initiatives to
support the transition to the new digital scenario, to
promote a work culture based on autonomy, delegation,
and trust, and to drive better time management, supporting
Number of people who were teleworking As of December 31, 2021
Countries
Argentina
Brazil
Chile
Colombia
Central America
Peru
Total
the well-being of individuals and their families. New forms
of work must be available to be more efficient and effective,
as well as to achieve a balance between employees’
personal and professional lives.
Remote work – Smart Working
In the aforementioned health context, the company
activated the teleworking modality for all employees.
The only exception were those who work as part of the
operations, since their activities cannot be carried out
remotely and it is not possible to postpone them, since they
are necessary to guarantee the continuity of the service
and the security of the electrical systems of each country
N° de personas
% del total
1.346
4.152
54
1.244
98
849
7.743
33%
47%
98%
55%
44%
89%
47%
2021 Management 201
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Flexible hours
Attracting and retaining talent
This measure has allowed people subject to time control, and
the positions that allow it, to start their working day earlier
or with a time lag within a time frame that will depend on
what is established by each country. This way, employees
can interrupt or finish their day early in the same period.
In remote work conditions, emphasis has been placed on
management by objectives, seeking to balance the times
required with personal and work issues.
Support Programs
La The Company offers individual psychological assistance
to employees and their families through a six-session plan
where they can address a variety of issues, whether of a
personal or professional nature. It also offers an opportunity
to hold group meetings, guided by a specialist, to develop
dynamics that are related to team interactions.
Work-life balance
A relevant focus for the people strategy is based on the
quality of life of its employees and achieving the balance
between work and family life. For the same reason, and
especially considering the context of the pandemic, in
2021 existing activities were enhanced in the Company,
maintaining their online nature. Gradually, the company
also added, and with the due protection of the preventive
Covid-19 measures, small spaces for face-to-face meetings
to favor coexistence and interaction among the team
members.
Campaigns to encourage
the use of vacations
Enel Américas encouraged its employees to take a break and
take care of their well-being. The Company implemented
a campaign to encourage the use of vacations between
January and December through the "Disconnect and renew
your power" initiative carried out in two periods of the year.
This way teams could plan for moments of disconnection
and relaxation.
Talent management integrates and empowers relationships,
trust and respect for each individual's talent, without
postponing the goal-centric approach.
The main objective of Enel Américas is to incorporate
and retain the best technicians and professionals who
also have the skills linked to the cultural change that the
Company is experiencing. The focus on the development
of people's potential allows us to achieve individual and
team objectives, so it is relevant to have a gender-diverse
and inclusive talent at all levels of the organization.
Between 2020 and 2021, more than 1,200 students were
incorporated into internship practice. They were selected
through an evaluation model that seeks to transmit and
choose those young people with the greatest affinity
with the Company’s values and culture. Diversity and
inclusion are relevant aspects, which is why initiatives
were developed to strengthen integration without age
discrimination in the various areas, especially promoting
the participation of women in the internship program.
The Company implemented initiatives aimed at improving
actions directed at younger age groups, through activities
such as meeting for young professionals "My Enel
experience as an intern" and the study associated with
recognizing the "Best Companies for Young Professionals
and Practitioners", among others.
Additionally, and as part of the Voluntary Retirement
Program, a cycle of preparatory talks was held to face
retirement in health and insurance issues in a more
positive way, as well as at an emotional level, and the
beginning of this new stage. These were aimed not only
at those who left the Company, but also at the teams
where these people worked.
Enel Américas and its subsidiaries promote diversity and
inclusion, aspects that also involve the contribution of
different cultures. We believe that an organization where
different origins, formations and cultural backgrounds
converge has a greater wealth of perspectives. As
part of the initiative the Company implemented a
mentoring program for foreign employees seeking to be
a contribution to the cultural inclusion of people from
other countries who come to work at the Company and
its subsidiaries. This mentoring program permit to direct
and integrate foreign employees in the new context, being
an informal focal point for information about the local
organization and the new country.
202
Integrated Annual Report Enel Américas 2021
People Development Programs
As part of the actions of people’s development, the Company
has implemented three programs that allow to continue
contributing to the growth and preparation for their
professional career:
Coaching: empowerment process based on becoming
aware of oneself and one's resources. It is a creative learning
based on the relationship of trust between the coach and
the coachee.
Job Shadowing: period when two work colleagues
accompany each other, a host -who welcomes- and a
guest, the person who is welcomed. Together they co-build
activities, objectives, and process goals, accompanying each
other in their own work activities and involving them in their
relationships with the team, with the main stakeholders and
sharing content and daily meetings.
Mentoring: it is based on sharing experiences between
a peer expert in certain sectors or competencies -the
mentor- and a less experienced partner in those sectors
or competences, the mentee. The first gives advice to the
second and, as he gets to know the organization, helps him
to read the different dynamics, making him responsible and
allowing him to develop his own skills.
The following are other activities related to employee
development and motivation:
Team building
Enel Américas continued to hold its Teambuilding programs,
carried out virtually and incorporating activities that
enhanced teamwork and cohesion among employees,
according to the business’ diverse needs.
Growing with Coaching
Initiative that began in 2021, to disseminate the coaching
culture and publicize the way processes are implemented at
Enel Américas, along with delivering tools so that employees
can apply them in their day to day activities.
Coaching Certification
In 2021, several people from the Company began their
coach certification process, in order to join the group of the
Company’s coaches in each country. The trainees implement
the coaching processes with other employees when it is
identified as a development action to be carried out both
in the succession plan and in the Total Rewarding.
2021 Management 203
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Performance evaluation and
internal mobility
Performance evaluation
The performance evaluation in 2021 measured 96% of Enel
Américas and its subsidiaries’ workers who met the eligibility
requirements. As a result of this evaluation, a feedback
meeting was held with each of those evaluated and the
respective development plans were generated.
As part of the 2020 Performance Evaluation carried out
in 2021, a new process was designed at the feedback
stage, aimed at developing an individual training and
development action plan. As part of the evaluation, each
person and his or her leader agreed on learning instances
composed of work experience learning activities (70%),
social learning (20%) and training courses (10%). These had
to be completed during the year. Employees could select
from a catalog of available courses and examples of actions
to be carried out. The options will be measured during
the next evaluation process.
Action Plan 2021
Training
Social Learning
Work experience
10%
20%
70%
Skills for the future
Internships
New tasks
eDucation
Participate in a project
Shadowing with a Senior Partner
LinkedIn Learning
Tutorials
A new responsibility
Learning Communities
Area Exchange
Lead a project
Internal diplomas
Participate in Conversations
Be backup of the line manager
Postgraduate Scholarships
Make presentations
Submit a proposal
Presentations at key meetings
Leading an intern
Among others...
204
Integrated Annual Report Enel Américas 2021
New Open Feedback Evaluation
Internal mobility
This evaluation model, launched in 2021, is based on the 15
skills of Enel SpA. and in individual growth and collective, as well
as gentle leadership. It focuses on identification of talents and
generosity as a value recognizable and quantifiable and relates
three dimensions: talent, action and generosity.
Due to the constant concern for people’s development,
in 2020 the Company implemented the Total Rewarding
process. Its objective is to value employees’ performance
through important opportunities for professional and
personal empowerment.
At Enel Américas, the feedback instances that managers
implement for employees are opportunities to foster
greater closeness, transparency, align expectations and
support their professional development. One of them is the
Open Feedback program, which seeks to encourage the
continuous feedback culture among the entire networks.
It is based on the Open Power philosophy. This evaluation
system has an online platform where any employee can
deliver feedback to his or her peers, teams, and managers,
highlighting the positive aspects of their performance and
indicating the identified opportunities for improvement.
Talent is the enabler of skills development and it should be
valued in each person. These competences shall be visible
and may be confirmed or modified. The generosity dimension
makes it possible to send and receive feedback to colleagues
and it stimulates them to make time available in order to
contribute to everyone’s growth. Finally, the action dimension
allows to assign up to three professional objectives by the
person who undergoes the feedback process.
In 2021, this tool was made available throughout the year and
the Company identified and indicated the compensation,
development, mobility, and training initiatives that are part
of the integral offer that it offers to its employees. One
of its most important characteristics is its dynamism and
constant improvement, and it offers experiences and best
practices, while driving integration and adding new tools
to the system.
Apart from collecting an enormous diversity and experiences
from the vacancies, these initiatives have contributed
to strengthening the Company's position in the main
external recruitment platforms, through a synergistic
content strategy and user experience. The Company also
promoted mobility at work allowing people to open up to
new professional challenges, facilitating skills and creating
increasingly horizontal programs.
Country
Argentina
Brazil
Colombia
Peru
Central America
Total
Direct selection
Internal competition
Total places covered
78
184
77
11
10
360
11
109
73
23
5
221
89
293
150
34
15
581
2021 Management 205
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Succession plan and transfer of functions
The succession plan seeks to identify talented people to take over managerial and high-responsibility roles. The aim of the plan
is to design development itineraries for such employees. It is a central process with an impact on KPIs, and can be described
as a sensitive and strategic procedure, which encourages generational change and gender diversity. It is an annual process
with the following phases:
Identification
The position holder chooses his successors in two categories: ready (people who are ready to take on this
position) and pipeline (those who still need to prepare to take on the job in the medium term).
The criteria to select successors must consider gender diversity, that is to say it must guarantee 50% of
women and 50% of men in the proposals; transversality, that is to say, candidates from different areas to
the one being identified and at least one person with an archetype that is different from the position holder.
Pooling
The position holder shares his plan with his leader, with his peers and his People Business Partner (PBP)
Action and communication plan
The proposed successors who were selected are informed and the action plan to be carried out during the
year is elaborated, which can be one of the following: Coaching, Mentoring, Job Shadowing, Work expe-
riences within Enel or outside, experience in Agile and diversity and inclusion projects and training of soft
and technical skills.
Human rights, diversity and inclusion
Enel Américas' corporate strategy is articulated around
the central concept of contributing to the construction of
a fairer and more inclusive society along the entire value
chain, protecting the environment and creating future
opportunities for the Company and all its stakeholders.
The Company's commitment to respect for human rights is
the common thread of the activities and is fully integrated
into the purpose and all corporate values specifically. Enel
Américas promotes respect for all internationally recognized
human rights in its business relations and requires
contractors, suppliers, and business partners to adopt them.
For the Company, inclusion implies taking care of all the
aspects that diversity considers, from the visible to the
most hidden, and enhancing the multiple talents that each
person can offer. It also means creating open contexts that
embrace difference and guarantee everyday organizational
and interpersonal conditions so that individual potential can
be freely expressed, stimulating innovation, and promoting
new opportunities.
Human Rights Policy
This constant commitment is expressed through the Human
Rights Policy, which is in line with the main international
reference standards. The document adopts the focus of
the United Nations Guiding Principles for Business and
Human Rights – Protect, Respect and Remedy – and the
guidelines outlined by the OECD Guidelines for Multinational
Enterprises aimed at promoting sustainable business model
management.
Protect
Respect
Remedy
Ensure Human Rights through appropriate
policies and regulations
Know and make transparent impacts on
Human Rights, as well as mitigation and cor-
rection measures
Take steps to remedy through judicial and
non-judicial systems
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Protect
The policy identifies eight principles that employees of Enel
Américas and its subsidiaries must observe in order to carry
out all their activities, also promoting them in commercial
relations and compliance with them by contractors,
suppliers, and business partners, paying special attention
to contexts of high risk or affected by conflicts.
The eight policy principles are grouped into two macro
themes: work practices and community relations.
Work practices
• Reject forced or compulsory labor and child labor.
Respect for diversity and non-discrimination
• Freedom of association and collective negotiations.
• Health and safety.
• Fair and favorable working conditions.
Relations with communities and societies
• Respect for the rights of communities.
• Integrity: zero tolerance for corruption.
• Privacy and communication.
The principles expressed in the policy are inspired by the
Universal Declaration of Human Rights, the International
Convention on Civil and Political Rights, the International
Convention on Economic, Social and Cultural Rights and
the principles relating to fundamental rights set out in the
International Labor Organization Declaration on Fundamental
Labor Rights and Principles.
The policy also describes a governance system responsible for
implementing and monitoring the activities defined by Enel
Américas for the protection and respect of human rights. These
include the implementation of a human rights due diligence
process.
Inclusion
pillar
Diversity
pillar
Promoting diversity and inclusion
Inclusion = Value is the paradigm that represents the
approach to attention to people, based on the inclusion of
diversity as an essential factor in the creation of sustainable
value. This approach is even more relevant today, given the
current circumstances in which it is extremely important
to innovate, co-create, draw, and attract talent and set up
a framework that would allow everyone to express their
uniqueness at all times.
Enel Américas' commitment to diversity and inclusion can be
found in the Human Rights Policy as well as in the Diversity
and Inclusion Policy, together with the seven Women's
Empowerment Principles (WEP) promoted by the United
Nations Global Compact and UN Women and in compliance
with the UN Development Goals.
Enel SpA ranks seventh on a global scale in the Top 100 of
Refinitiv's Diversity and Inclusion Index, and it is first among
Italian companies. The Company also led for the second
consecutive year the industrial group "Electric Utilities &
Independent Power Producers (IPPs)". The index evaluates
more than 11,000 companies for their diversity and inclusion
performance, based on publicly available information
compiled by Refinitiv. Enel Américas is also listed in the index.
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The Diversity and Inclusion Policy is based precisely on
the fundamental principles of non-discrimination, equal
opportunities, and equal dignity for all forms of diversity,
inclusion, balance between private and professional life
and on the promotion of specific actions that also identify
gender diversity as a priority.
The document defines the key principles required to spread
a culture that pays attention to diversity and adds its value.
The Company rejects all forms of arbitrary discrimination
and is committed to guaranteeing and promoting diversity,
inclusion, and equal opportunities. The Company’s
management tries to do its best to promote and maintain a
climate of respect for people’s dignity, honor, and identity. It
will also guarantee the highest standards of confidentiality in
relation to any information about the employees’ private lives
to which it may have access. Consequently, in compliance
with the values and principles contained in the Enel Américas
Code of Ethics, the Company adopts the following key
principles:
• No arbitrary discrimination.
• Equal treatment and dignity for all forms of diversity.
• Inclusion.
• Reconciliation of work and family life.
The Policy acts as a point of reference for the development of
Enel Américas' culture of care and inclusion. Its fundamental
principles of non-discrimination, equal opportunities, and
dignity for all forms of diversity, inclusion, work-life balance
are milestones to develop specific initiatives that address,
as a priority, the dimensions of gender, disability, age,
nationality, and the dissemination of inclusion culture at all
levels and in all organizational contexts.
As part of its strategy and based on its Diversity and Inclusion
Policy, the Company developed a series of practices linked to
the gender, age, nationality, disability, and well-being pillars,
among other diversity groups. In the gender dimension,
the Company seeks a balance during the recruitment and
selection processes.
For Enel Américas and its subsidiaries, diversity and inclusion
in all its forms is fundamental in people management. In the
Company's Diversity and Inclusion Policy, gender pillars are
defined as focuses, integrating the LGTBI+ collective, people
with disabilities, interculturality (nationality/migrants) and
generational diversity (age).
As part of the results of the report presented to the
Board, delivered by the Chief Executive Officer and
his executive team, the Sustainability and Community
Relations Management - in coordination with the People
& Organization area - is responsible to report on the
Company's Diversity and Gender management, including
its relevant risks on a quarterly basis.
Diversity and Inclusion Program
This program addresses the different barriers that prevent
the full participation of different groups of people and, in
particular, those who for cultural reasons are less frequently
represented in the work context. The Company participates
in the following evaluations:
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Argentina:
Brazil
Chile
Employee and Family Group Assistance Program on disability issues; Sign Language Workshop; Other initiatives
that promote diversity and equality; female leadership programs
Diversity and inclusion workshop for all leadership and P&O.
Eight webinars on diversity and inclusion were held for all employees
% of women managers and middle managers: 26.58%
Diagnosis of the Intervention of Unconscious Biases in Employability, Training Processes
and Subsequent Career Development of Women in Companies in the Electricity Sector.
The Best Companies for Young Professionals, from First Job.
Best Companies for Interns, from First Job.
Gender-Equality Index (GEI).
Outstanding Company in Diversity, Equality, and Inclusion 2021, EY Ernst & Young.
Merco Corporate Business Reputation Monitor.
Measurement of Business Labor Inclusion (Mile), of the Network of Inclusive Companies (ReIN).
Internal Radiography, from Pride Connection.
Seal of intercultural companies of the Network of Intercultural Companies.
Colombia
Company awarded the Friendly Biz seal, Forum - Business Challenges 2021
Gender Parity Initiative
Women Open Power Women's Leadership Program
Thinking about your Future (age)
Hazte Presente Program (LGBTIQ+) (Be present)
Diversamente program
STEM Talent
Safe Company free of Violence and discrimination against women.
Campaigns on the use of inclusive language (elaboration of manual).
#Sinetiquetas addressing unconscious biases in the recruitment process – Launch of health insurance for
LGBTIQ+ couples
Open Diversity.
Participation and Ranking in The Best Companies for Young Professionals (EFY) in First Job.
Certification as an Innovative Inclusive Company in Guatemala. The certification is granted by the Ministry of Labor
(MINTRAB) and a non-profit association (CENTRARSE).
In Costa Rica, we have worked on a Gender Equality Model program, with the following actions: Approach to the
"Gender Equality Seal (Inamu) – Adhesion to the AED Alliance – Which involves signing and being committed to the
Wep's.
Costa Rica also set up the Gender Committee and carried out a diagnosis of gender gaps. Subsequently, the WEM
(Institute of Man) was approached to share the actions with other venues. The objective is to obtain the "Seal of
Gender Equality".
In Panama, to break the gender gap in the sector, seven employees from different business areas had the oppor-
tunity to participate in an Energy Transition course organized by the Grupo Mujer y Energía de Panamá and the
Externado de Colombia University.
Peru
Central America
Disability pillar
As part of the Disability Pillar, it is important to highlight
the permanence of Enel SpA in The Valuable 500, a global
initiative that invites 500 private companies to promote and
take advantage of the business, social and economic value of
people with disabilities around the world. The Group, which has
already included disability on the Board of Directors’ agenda,
has made a public commitment to action in this area.
Following the guidelines of its parent company, Enel Américas
joined The Valuable 500 and has identified the gaps that
prevent the inclusion of people with disabilities into the
Company. A dedicated team made an experimental journey
throughout the processes, from recruitment to labor insertion,
establishing the physical, technological, and cultural barriers
to be eliminated if the Company wants to guarantee everyone
inclusive and non-discriminatory job opportunities
People with disabilities
All these initiatives seek to eradicate possible prejudice
against people with disabilities, during the recruitment,
training, and career development process. The objective
is for all people to perceive that they have the same
opportunities and that they compete for professional
development in equal conditions. In relation to the above,
the Company set up a procedure to incorporate people
with disabilities.
People with disabilities
Enel Américas and subsidiaries
2021
396
2020
373
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important role in enriching the organization.
Argentina
Law No. 22,431 as amended by Law No. 25,689; Regulatory
decree of 2010 that encourages the inclusion of people
with disabilities at work.
Brasil
According to the Brazilian law, companies with more than
100 employees are subject to a legal quota for hiring people
with disabilities which varies from 2% to 5%, depending on
the total number of employees.
Under the Open Power model, Enel remains open to the
contributions of the new generations in all subjects and it
carries out a collaborative effort leading to mutual growth,
learning, and contributing to the different areas in which
they were integrated. Between 2020 and 2021, despite the
pandemic, XXX students joined the Enel Américas internship
scheme. They were selected through and Evaluation Model
called Recruiting Day that seeks to choose those young
people with the greatest affinity to the values and culture
of the group.
Interculturality/Nationality/Migrants
Enel Américas and its subsidiaries promote diversity and
inclusion, aspects that also involve the contribution from
diverse cultures. The premise of the program is that an
organization where different origins, formations and cultural
backgrounds converge has a greater wealth of perspectives.
Under the umbrella of the premise, the Company has
implemented a mentoring program for expatriate employees
that aims to be a contribution to the cultural inclusion of
foreigners who come to work at Enel Américas and its
subsidiaries. Mentoring allows to guide and integrate foreign
employees in the new context. It is also an informal focal
point to obtain information about the organization in each
country.
Sexual diversity
In terms of sexual diversity, in 2021 the Company joined
the Pride Connection network, which seeks to advance the
inclusion of the LGBTI+ community into the workplace.
Equity Policy
In line with the UN Sustainable Development Goals,
specifically SDG 5, the Company is committed to pursuing
a gender equality policy; therefore, the salary review process
it periodically carries out, the Company takes into account
gender criteria.
Enel Américas periodically carries out its employees’ salary
review. It uses a methodology to evaluate positions that
permit to establish the relative value of each one according
to the importance and contribution to the organization’s
interests. It makes it possible to compare wages in an
objective way with the reference labor market, considering
both gender and peer criteria of equity.
Chile
The data associated with the compliance with 1% of people
with disabilities are established in Law No. 21015 on Labor
Inclusion.
Colombia
It is not a legal obligation to hire people with disabilities and,
therefore, there is no stipulated or minimum quota. However,
there are some laws that encourage companies to hire staff
members with disabilities, including:
• Law No. 361 of 1997.
• Decree 2011 of November 30, 2017
• Decree 2177 of December 22, 2017.
• Decree 392 of February 26, 2018.
Perú
The General Law on Persons with Disabilities No. 29973 and
its regulations included in Supreme Decree No. 002-2014
MIMP promote the inclusion of persons with disabilities
in the public and private sectors. For the public sector, it
establishes 3% of people with disabilities.
Centro América
Guatemala
There is no law governing hiring. Only Decree No. 135-
96 "Law on Care for Persons with Disabilities" for their
protection.
Costa Rica
Law No. 7600 (1996), Regulation No. 26831 (1998). Law No.
8661 (2008), Law No. 8662 (2010), Law No. 7092 (1988 –
Article 8, subsection b, second paragraph) and Law No. 9379
(2016).
Panama
Law No. 15/2016 and Law No. 42/1999 on the "Equalization
of Opportunities for People with Disabilities".
Generational diversity
For Enel Américas, diversity and inclusion also refer to
the importance of the contribution offered by different
generations, where young talent and experience play an
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Sexual and Workplace Harassment Policy
The Company has put in place a Sexual/Workplace
Harassment Policy that focuses on preventing and addressing
sexual harassment in the workplace. We are currently working
on a communication campaign to disseminate the scope of
this policy, in addition to strengthening respectful behavior
among all our workers.
• Respect for and protection of the workers' representative
(ILO C135).
• Prevent discrimination against workers.
• Local labor legislation.
• Guarantee the effective exercise of trade union rights in
the workplace.
The Company operates following the principles of equal
opportunities and integrity, which incorporate diversity and
inclusion and the development of human capital. These
elements are key drivers of sustainability management
and are integrated into operations and services provided
to customers. The Company will continue to work in these
areas for the benefit of its stakeholders and with a view to
contributing to the creation of a more inclusive society in the
places where it is present.
As part of the results of the report presented to the Board
of Directors by the Chief Executive Officer and his or her
executive team, the Sustainability and Community Relations
Management, in coordination with the People & Organization
area, is responsible for reporting each quarter on the
Company's diversity and gender management, including its
relevant risks.
The right to syndical representation and
collective negotiation
Collective agreements are elaborated considering the
following guidelines:
• Respect for and protection of freedom of association and
the right to organize (ILO C87).
• Respect for the right to collective negotiation (ILO C98).
The measures in force to inform workers about their trade
union rights are carried out through the trade union leaders or
HR staff members. In case of possible violations of workers’ or
trade union rights, the Company receives reports both through
the ethics channel and through other means, such as emails
and letters, governed pursuant to internal procedures. Such
reports and are confidential.
The Company establishes fair and favorable working conditions
for all its employees, as defined by the current legal regulations,
through collective agreements and instruments, arising from
the collective negotiation processes between trade unions and
the Company. This contributes to a responsible management
of employees’ working conditions.
For Enel Américas and its subsidiaries, collective negotiation
is an instrument validated by both parties and it has facilitated
collaborative efforts, accentuating the positive social impact
on the organization. This highlights the best practices it
promotes in matters relating to freedom of association and
fair compensation.
In 2021, 83% of workers were unionized through collective
agreements. Enel Américas and its subsidiaries’ employees
are free to associate collectively, forming part of one of the
existing unions in each company.
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are detailed below:
% Covered by Company
Argentina
Brazil
Colombia
Panama
Peru
Argentina
Company(1)
Edesur – Collective Negotiation Agreement 1
Edesur - Collective Negotiation Agreement 2
El Chocón - Collective Negotiation Agreement 1
Costanera - Collective Negotiation Agreement 1
Costanera - Collective Negotiation Agreement 2
2021
85%
99%
46%
40%
25%
Start date
End date
2004
2004
2012
2011
2012
2007
2007
2017
2014
2015
(1) According to the Argentine labor law, the working conditions contemplated in expired contracts remain in force until new contracts are signed,
pursuant to the principle of validity after the end of the contract established in Law No. 14,250 (Art. 12)..
Brazil
Company(2)
Start date
End date
Enel Distribución Sao Paulo - Collective Negotiation Agreement
December 2021
September 2023
Enel Distribución Rio - Collective Negotiation Agreement
Enel Distribución Ceará - Collective Negotiation Agreement
Cien - Collective Negotiation Agreement
Cachoeira Dourada - Collective Negotiation Agreement
Enel Distribución Goias - Collective Negotiation Agreement
Enel Brasil - Collective Negotiation Agreement
February 2021
October 2021
May 2021
September 2021
November 2020
December 2021
November 2022
April 2023
April 2023
April 2023
April 2023
September 2023
(2) According to the Brazilian law, the validity of collective negotiation contracts cannot exceed two years.
.
Colombia
Company
Codensa – Sintraelecol - Collective Negotiation Agreement 1
Codensa – Asieb- Collective Negotiation Agreement 2
Emgesa – Sintraelecol-Collective Negotiation Agreement 1
Emgesa - Asieb- Collective Negotiation Agreement 2
(3)It is currently under a negotiation process
Peru
Company
Enel Generación Perú S.A.A. – Collective Negotiation Agreement 1
Enel Generación Piura S.A. – Collective Negotiation Agreement 1
Enel Distribución Perú S.A.A.-SINTREDEL – Collective Negotiation Agreement 1
Enel Distribución Perú S.A.A.-SUTREL– Collective Negotiation Agreement 2
Panama
Company
Enel Fortuna S.A.-SITIESPA-Collective Negotiation Agreement 1
Start date
End date
November 2019
December 2022
May 2016
January 2022
May 2016
(3)December 2019
December 2022
(3)December 2019
Start date
End date
2019
2022
2021
2020
2021
2026
2023
2023
Start date
End date
December 2020
December 2024
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Health and safety
Enel Américas considers people's health, safety,
psychological and physical well-being a the most precious
commodity. Life must be protected at all times, at work, at
home and during leisure time. Therefore, the Company is
committed to developing and disseminating a strong safety
culture throughout its operations to guarantee a workplace
free of health and safety hazards,
The aim is to increase awareness of risks and promote
responsible behavior to guarantee that activities are carried
out with a high level of quality and without injury.
The integration of safety into processes, training and
dissemination activities, the rigorous selection and
management of contractors, quality controls, exchange of
experience and benchmarking are fundamental elements
of the safety culture.
The current period is a challenging one, especially in
relation to health management. It is related to the effect of
the pandemic that radically changed the way we work and
relate. Consequently, the Company had to adapt in order to
maintain the operational continuity of an essential service
in all the communities in which it is present. This adaptation
has consisted of implementing protocols, such as the Global
Policy PL1031 "Coronavirus operational and emergency
indications for Enel Group" and the IO3420 operational
instructions for Access Control, among several others.
Main indicators
Fatality rate of contract workers (*)
2021
Countries
Argentina
Brazil
Chile
Colombia
Central America
Peru
Total
Fatality rate
-
11,27
-
-
-
-
11,27
(*) Fatality rate = (Number of fatalities due to occupational accidents / Number of workers) * 100,000
Average number of days lost due to accidents
2021
Countries
Argentina
Brazil
Chile
Colombia
Central America
Peru
Total
Average number of days lost due to accidents
14
12
-
-
-
-
13
Average number of days lost due to accidents = (Days lost due to accidents / Number of work accidents)
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Enel Américas has identified participation scenarios and
permanent collaboration with different stakeholders and civil
society, where they share practices in terms of transparency
and probity thus promoting the sustainable growth of the
region with relevant players in the area.
In 2021, the Company and its subsidiaries continued to
be part of multiple trade and business associations whose
details can be found in Chapter 8 of this Integrated Annual
Report.
Supplier management
A sustainable and resilient supply chain is essential to deliver
affordable, renewable, reliable, safe, and high-quality
energy.
Apart from meeting certain quality standards, suppliers’ and
contractors’ services must also go hand in hand with adopting
best practices in human rights and working conditions, health
and safety and environmental and ethical responsibility. The
Company's contracting procedures are designed to guarantee
service quality fully respecting the principles of economy,
efficiency, punctuality, fairness, and transparency.
Enel Américas promotes sustainable practices among its
suppliers, supporting them in improving their transparency
and levels of competition. This approach makes it possible
to quantify the impacts generated throughout the life cycle
of supplies and services and share future commitments for
their reduction.
The Company has developed and implemented a Sustainable
Supply Chain model that incorporates circular economy,
digital innovation, and the will to share values and objectives
with suppliers and contractors so that they also make them
their own. This, in order to receive their value propositions
that permit to develop innovative processes that reinforce
integration and communication with all interested areas, in
line with the Group's Open Power vision.
Relation with the community
Involving local communities
Enel Américas considers the constant relationship
with communities to be a pillar that sustains business
sustainability. Constant dialogue, symmetry of information
and transparency are necessary to reach a consensus on
decisions with stakeholders.
The Company operates in seven countries, each with
dedicated community engagement teams, given the
importance of knowing local cultures and empowering
communities on the journey towards a fair energy transition,
listening to stakeholders’ needs and working together to
identify innovative solutions aimed at the electrification of
electricity demand.
To intensify the specific needs and priorities of each territory,
Enel Américas has continued to develop the shared value
creation (Spanish acronym CSV) model along the value chain
and asset life cycle. This model foresees the application
of socio-economic-environmental study tools, the
identification of stakeholders and, finally, the implementation
of a sustainability plan agreed with stakeholders, focused
on the generation of shared value: initiatives that benefit
the community, as well as companies.
Focusing on local development, the Company takes into
consideration the scenario of each Latin American country
where it participates to define its community relationship
strategy and reduce the gap in multidimensional and energy
poverty. A global perspective permits the Company to
develop electrification projects that guarantee access to a
safe, high quality supply, promoting economic development,
green jobs and endorsing quality education for young people
and children, all in line with the 2030 Agenda.
Membership in guilds, associations, and other
organizations
Institutional relations are a relevant element that allows the
Company to learn about the legislative, political, regulatory,
or administrative issues that could affect its activity, its
interests, and its relationship with stakeholders. They also
provide relevant information on the commercial scenario
in which businesses move and expand companies’ circle
of influence.
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Promoting Sustainability
Safety
Environment
Circular Economy
Human Rights
Partnering with suppliers
Qualification
Oferta
Contracts
Contract management
Human rights and ethics
Sustainability K-factor
Principles of the Global Pact
Supplier Performance
Health and safety
Circular design
Enel Code of Ethics
Management
Environment
Integrity
Circular economy
Human Rights Policy
Health, Safety and
Environment attachment
For Enel Américas, circular economy is a business model that leads to competitiveness, combining innovation and sustainability.
The Company has adopted the Circular Procurement Strategy, focused on suppliers, acquiring goods or services that reduce
environmental impact and waste generation during their life cycle, all the while aligned with the principles of the Group.
Circular Economy Initiative for Suppliers Engagement
This initiative promotes supplier commitment by certifying the environmental impact of their products through the Environmental
Product Declaration – EPD(1),which aims to quantify, certify and objectively communicate the impact created throughout the
life cycle of supplies. Using this verified environmental declaration of products, Enel Américas can calculate the impact of its
purchases for its different business lines and , at the same time, encourage its suppliers to implement specific actions to
improve the eco-efficiency of the manufacturing cycle of their products
Supplier management is made up of three essential stages,
which integrate social, environmental and governance
aspects:
Supplier rating
The Company integrates sustainability into its supply chain
monitoring it from its early stages thanks to the Global Supplier
Rating System. This is additional to evaluating technical,
economic, financial, and legal criteria, and considers the
following factors: human rights and business ethics, health
and safety, environmental impact and integrity and reputation.
All these aspects are analyzed at different depths depending
on the risk in the service to be hired in each business line.
This system guarantees a careful selection and evaluation
of companies that wish to participate in the tendering
procedures and rewards suppliers committed to improving
their sustainability management, apart from guaranteeing the
necessary quality standards.
Suppliers rated according to sustainability criteria
At the end of 2021, there are 4,613 suppliers qualified
(89% nationals and 11% foreigners). The 100% of them
were evaluated under sustainability criteria, achieving a
coverage of 96% of the volume of the purchases in value,
with respect to total purchases.
(1) This includes compliance with the Principles of the United Nations Global Compact and the Health, Safety and Environmental (HSE TERMS) commitment.
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Suppliers evaluated with ESG criteria
Chile
Argentina
Perú
Brazil
Colombia
Panana
Costa Rica
Guatemala
Total
National suppliers
Foreign suppliers
816
508
422
1,171
874
108
77
119
4,095
103
61
149
42
95
18
40
10
518
Total
919
569
571
1,213
969
126
117
129
4,613
Coverage Qualification Contracts
with Qualified Suppliers/ Total
Contracts awarded
97.00%
98.82%
97.73%
92.70%
99.16%
96.00%
95.00%
95.00%
Tender and hiring process
In line with the commitment to introducing sustainability
aspects in the tender processes, a specific "Sustainability
K" factor was incorporated into the offer evaluation process,
which relates to requirements associated with social,
environmental, health, safety and circular economy aspects.
Once the minimum technical threshold defined for the
tender processes has been reached, the selection of the
supplier considers a weighted mix of economic offer and
"Sustainability K factor". Incorporating these factors into
bids can improve the supplier's final position in the selection
ranking of the most advantageous weighted offers.
Additionally, specific contractual clauses on sustainability
are provided for in all work, services, and supply contracts,
including the respect, defense and protection of human
rights and compliance with ethical and social obligations.
Supplier performance Management
The Supplier Performance Management (SPM) system allows
to monitor in real-time suppliers' performance, according
to evaluation and observation criteria. Some of the most
important include the quality of the product or service,
punctuality, safety, environment, human rights, innovation,
and collaboration. This tool allows to periodically evaluate
suppliers’ behavior, making it possible to take action, either
to recognize good performance or to request mitigation
plans from suppliers who underperform. The latter is done
through consequence management, which considers
providing support and motivating suppliers who have
obtained an unsatisfactory rating, through the sending of a
letter in which disagreements are communicated and invited
to generate corrective actions.
Subcontracting policy
Using a special procedure, Enel SpA defines the guidelines to
manage subcontracting, to which Enel Américas adheres and
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which are implemented in compliance with the applicable
local legislation in force. In case of a conflict between the
two, the one established by law will prevail before the most
restrictive rule. The principles of integrity, transparency
and compliance must be followed as specified in the Code
of Ethics and in the Zero Tolerance with Corruption Plan,
Human Rights Policy and in the Compliance Program;
guarantee adequate traceability of the main stages of the
process and comply with external and internal regulations
on health, occupational and social safety.
Enel Américas requires contractors and subcontractors,
apart from correctly performing their tasks and providing
their services, to faithfully comply with the labor and social
security obligations defined in the legal regulations in the
countries where it operates.
At the same time, it asks its contractors to maintain
processes directed at the development of levels of
good work environment with their employees and the
development of the competencies and skills required to
correctly implement the services provided. To this end,
the Company carries out control activities defined in an
Operational Instruction. These apply at least to the activities
that provide services in all works, tasks, services, projects,
works or activities that in their development have any of the
following characteristics:
• They are intended for the development of operations or
business.
• Services with a duration of more than 30 days.
• When the works and / or services that must be carried
out or provided by the respective contractors or
subcontractors, are carried out permanently or habitually.
Supplier payment policy
Enel Amércias uses the Payment Policy for the different
payments to national and foreign suppliers that provide goods
and/or services and in compliance with Payment Law No.
19,983. Excluded from this policy are documents that, due
to their special nature, must be paid within a period different
from the one established by the general policy, such as, for
example, fuels, import and/or customs duties, basic services,
remuneration, social security contributions, taxes, debt
service and financial expenses. The purchase documents of
spot energy (Spanish acronym CEN), power, single charges,
toll, transmission, and everything related to the movement of
energy have a special treatment and must comply with the
regulation of the electricity market.
Supplier contracts
The segments defined by the Company within its financial
statements are those of Generation and Transmission and
Distribution:
Generation and transmission segment
The main suppliers in the generation and transmission
segment are those related to energy purchases, fuel
purchases, electricity transportation services and plant and
equipment property purchases.
The purchases of electrical energy made by the import of
energy from Argentina and Uruguay, must be made through
the Electric Energy Commercialization Chamber (Spanish
acronym CCEE), and it is in the name of this institution that
the purchases of energy for this transaction are registered.
As a result of the above, the CCEE concentrates 34% of the
generation segment purchases.
Distribution segment
The main suppliers of the distribution companies are
those related to energy purchases, transport services and
purchases of network infrastructure.
Distributors operating in Brazil, in the cities of Rio de Janeiro,
Goiás, Ceará and Sao Paulo, have the CCEE as their energy
purchase supplier when their purchases are made in
wholesale market auctions.
As a result of the above, the CCEE concentrates 30% of the
distribution segment purchases.
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Governance
Report
Efficacy of the Board of Directors
Enel Americas' Corporate Governance aims to create
value for all shareholders, along with accommodating
the interests of its stakeholders.
Directors’ Committee
The Board of Directors delegated certain functions
related to sustainability to the Directors Committee, an
entity that already operates with a permanent structure
and a defined schedule.
Investor Relations
The Company's communication with Institutional
Investors and with all of its shareholders and bondholders
is inspired by the principles of fairness and transparency,
and complies with national regulations, to prevent and
avoid stock market abuse. It is in line with international
best practices.
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Corporate Governance Report 219
Corporate governance report
Enel Américas' Corporate Governance aims to create value
for all shareholders at the same time accommodating
stakeholders’ interests. That is why the Company oversees
matters of mutual interest to its stakeholders, where
compliance with the rules promotes a constructive and
collaborative dialogue in places where the Company is
present. The corporate governance system complies with
the principles included in the regulatory regulations for
listed companies and is also inspired by international best
practices.
This governance model permits to combine the policies,
standards and practices of risk management and control,
among others, necessary for its operation. The Board
of Directors is the entity that establishes the strategy,
supervises its implementation, and creates the system of
Government that best suits the way business is done and
also the achievement of its corporate purpose.
The corporate governance system adopted by Enel Américas
essentially focuses on the objective of creating value for
shareholders over a long-term period. The Company is
aware of the social relevance of the activities to which the
group is committed and of the necessity arising from the
need to adequately consider all the interests involved in
development.
The strength of Enel Américas' corporate purpose
For Enel Américas, electricity is the vehicle that contributes to
the reconstruction of cities, communities, and people's quality
of life. As part of the objective, the Company relies on the pillars
of energy transition, electrification, digitalization, innovation,
circular economy, and sustainable finance, at the center of
which the Company always places the customer. Therefore, the
Company is a leader not only in terms of assets, but also in terms
of platforms through which it can enhance the value of said
assets by creating different ways of doing business. The need for
new investments and to change the economy go hand in hand
and it is within this framework that our activity creates value
for all. The Company is committed to creating sustainable and
shared value with all its stakeholders, both internal and external,
innovating and seeking excellence throughout the business value
chain. All of the above is in line with the objective of "Opening
energy for a brighter future: we empower sustainable progress",
which is Enel's mission:
• Open energy to more people in the world.
• Open energy to new technologies.
• Open up to new forms of energy management for all
consumers.
• Open energy to new uses.
• Open energy to new collaborations.
Purpose
Open power
for a brighter
future.
We empower
sustainable
progress.
Values
Trust
Proactivity
Responsibility
Innovation
Accelerating energy transition is
essential for the planet. It is
important to incentivize and
promote commitment to the shift
towards a renewable energy matrix
and an efficient use of natural
resources using clean electrifica-
tion, while enabling growth
fair and inclusive for all.
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Efficacy of the Board of Directors
The Company is committed to and works towards achieving a sustainable progress in the countries and communities where
it operates, to reaching a more inclusive and resilient society. The Board of Directors is the central entity responsible for
management and it incorporates the best Corporate Governance international practices aimed at increasing the effectiveness
and efficiency of its management, in addition to the quality of its decisions. Below we present the featured practices:
Commitment to transparency
Ethics and integrity are Enel Américas’ core values and form
the basis of its Code of Ethics. The document sets out the
commitments and responsibilities of ethical nature, in the
management of business and business activities, taken on
by the people who make up the Company.
Acting in good faith and putting general interests before
their own are non-negotiable values and are part of
the essence of what is set forth in the Manual for the
Management of the Company’s Information of Interest
to the Market which is also inspired by the principles
of transparency and care and diligence in the use of
information and market performance. Enel Américas
Managing risks
adopts this document to internally manage and process
confidential information, as well as communicate business-
type documents and information outside the organization,
with special reference to sensitive inside information. The
Manual aims to preserve the confidentiality of reserved
information, while guaranteeing that disclosure to the
market relating to business data and information is correct,
complete, adequate, timely and non-selective. In order
to guarantee maximum transparency for the operations
carried out by employees, the Company adopts rigorous
procedures regarding the management of confidential
information, pursuant to current regulations and
international best practices.
Risks are inherent in business management and are part
of any Company’s strategy and its day to day functioning.
Therefore, it is necessary to manage, direct and mitigate
the risks to which the Company is exposed.
possible consequences, as well as quantitatively estimate
their probability of happening, in order to establish the
necessary actions so that these objectives can be achieved
with greater certainty.
Risk control and management is part of Corporate
Governance structures and for this to be effective, risks must
be considered as one more element of a company’s strategic
plans. Therefore, it is necessary to identify and analyze the
factors that may affect business objectives, quantify their
Enel Américas' risk management framework is designed
to manage and mitigate these risks, as far as possible, and
achieve the Company's goals and objectives, allowing for a
reasonable and non-absolute guarantee against material
losses.
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Internal Control System and
Risk Management (SCIGR)
Internal Audit
Policies and
procedures
Board(1)
Monitors and controls
risk management.
Enel Americas Risk
Control and Management
System (SCIGR) is
founded and follows
these principles:
The internal audit
function is responsible
for the oversight and
functionality of the
Company’s SCIGR
Internal Audit
Reports to the Board
According to the best
Corporate Governance
practices.
Risk Control area and
management
Report to the
Company’s management
According to the
Corporate and
Organizational structure
Guidelines of the Enel
Group’s Internal Control
and Risk Management
System
Reports directly to the
Board and is not
Responsible or depend on
any operating area
Enel Americas‘ Risk
Control and Management
Policy.
(1): The Board of Directors monitors and controls risks, including emerging risks, which may affect future results.
Risk Control Function
The Risk Control function is unique to Enel Américas and
is hierarchically integrated. Its responsibility is to verify
compliance with the Risk Policy and the actions related to risk
that are part of it. The Risk Management function is specific
to each line of business or corporate area (Risk Owners). Their
responsibility is to direct risk management in their field of
competence. Similarly, they must implement risk controls that
guarantee compliance with the guidelines and limits defined
by the Risk Control area.
Meetings with the risk area
The Board of Directors meets with the Risk Management
department every quarter and during that period they
review, among others, the main strategic risks, the main
risk sources and methodologies to detect new risks, as
well as the probability and impact of the most relevant
ones and their effect on the operation and financial
results. Similarly, the Board analyzes the recommendations
and improvements that, in the opinion of the unit, would
be pertinent to better manage the Company's risks, as
well as the contingency plans designed to react to critical
events, including the continuity of the Board of Directors
in crisis situations. In the meetings that the Board of
Directors holds or might hold with the Risk Control area,
the presence of the Company’s Chief Executive Officer
is recommended.
The review of the main strategic risks for the 2021
period was completed and presented to the Board at
the February 25 session, making it possible to evaluate
and obtain a detailed view of current risk management
practices, risk environment and risk management
practices. Given the close alignment of the Company's
purpose with the energy transition process and the
impact and risks related to climate change, these matters
are integrated into Board reviews and risk management.
The main strategic risks within the Risk Matrix and
mitigation measures were reviewed at the sessions held
on March 25, July 24, and September 29.
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Enel Américas Risk Control and Management Policy
The Policy represents a set of decisions that establish the
acceptable framework for action for the risk levels inherent
in the Company’s activity, and the appropriate measures
to adequately manage, monitor and control said risks.
This Policy binds all Enel Américas’ executives and staff,
regardless of the nature of their functions. The scope of this
policy corresponds to the companies in which Enel Américas
directly or indirectly holds 100% of their share capital and will
be applied directly as the Company's own. The Risk Control
and Management Policy was applied from the first business
day following its approval by the Audit Committee and its
validity will remain in force as long as it is not modified or
repealed by another agreement of said committee.
The Risk Control area must report to the Board of
Directors on the main strategic risks at least once a year
including both direct and indirect risks. Other risks include
commodities, financial, credit and counterparty, regulatory,
fiscal, legal, as well as sustainability, climate change and
information security, cybersecurity among other economic,
social, and environmental risks. The Risk Control function is
hierarchically integrated
Principles of ethics and integrity culture
Transparency and rectitude are the principles that inspire
Enel Américas as a result of promoting and consolidating
an ethical and integral culture within the Company.
The Company is committed to creating sustainable and
shared value for all its stakeholders, both internal and external,
innovating and seeking excellence throughout the value chain
of the businesses in which it operates. The Code is built on the
general principles¹ of relations with stakeholders, which define
the Company’s values in Enel Américas’ activities, pursuant
to the criteria of conduct towards each type of stakeholder
and, additionally, the action mechanisms described by the
control system to comply with the Code of Ethics and its
continuous improvement. The document is valid in all the
countries where the Company operates notwithstanding the
cultural, social, and economic diversity of those countries.
The Compliance System aims, among other things, to
guarantee respect for the relevant laws and the Articles of
Association, observing the principles of good management
of corporate activities and with respect for the law and the
Articles of Association.
1. At the extraordinary shareholders' meeting held on April 22, 2010, the merger of the Audit Committee with the Directors' Committee was approved.
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Pursuant to paragraph 1.f) of General Standard (NCG) No.
385, under which the Board of Directors must meet, at least
once a quarter, with the internal audit unit to analyze: (i) the
annual audit program or plan; (ii) any serious deficiencies
that have been detected and those irregular situations that,
by their nature, must be communicated to the competent
supervisory bodies or to the Public Prosecutor's Office;
(iii) the recommendations and improvements that, in
their opinion, would be pertinent to make to minimize
irregularities or fraud and (iv) the effectiveness of the crime
prevention model implemented by the Company, reporting
on the management of the Crime Prevention Officer and
explaining the activities carried out and the ones to be
carried out in the forthcoming months. It is recommended
that the Chief Executive Officer should be present at the
meetings that the Company’s Board of Directors holds or
might hold with the Internal Audit area.
Subjects covered in 2021
• At the February 25, 2021, meeting, the following issues were
presented to the Board of Directors:
• Results of the 2020 Internal Audit Plan for Enel Américas
and subsidiaries.
• 2021 Internal Audit Plan for Enel Americas and subsidiaries.
• Internal Audit Risk Map.
• Eventual serious deficiencies that have been detected and
those irregular situations that, by their nature, must be
communicated to the competent supervisory bodies or to
the Public Prosecutor's Office.
• Recommendations and improvements that, in their opinion,
would be pertinent to carry out to minimize the occurrence
of irregularities or fraud and the effectiveness of the crime
prevention model implemented by the Company.
Meeting with the external audit firm
The Board of Directors meets with the external auditors
each quarter, a practice that was approved at the Board of
Directors’ meeting held on September 28, 2015 and was
implemented as of 2017, in compliance with the voluntary
practice contained in NCG No. 385 of the Financial Market
Commission (Spanish acronym CMF) to examine matters
related to the audit plan and others. It is recommended
that the Chief Executive Officer should be present at the
meetings that the Company’s Board of Directors holds or
might hold with the external auditors an instance in which
aspects such as the following might be reviewed:
• Any differences detected in the audit related to
accounting practices, administrative systems and
internal audit.
• Any serious deficiencies that have been detected and
those irregular situations that by their nature must be
communicated to the competent auditing entities.
• Results of the Annual Audit Program.
• Possible conflicts of interest that may exist in the
relationship with the audit firm or its staff, both for
the provision of other services to the company or to the
companies of its business group, and for other audit
situations or its staff. both for the provision of other
services to the Company, and for other situations.
Monitoring and control of environmental and social issues by the Board
of Directors
The Board of Directors configures the framework in which
relationships with its stakeholders are developed and maintained.
The Company places stakeholders at the center of its sustainable
business model and, based on their identification as such and
the reasons why they have this status, the Company elaborated
a methodology to identify and prioritize the issues relevant
to these groups. The Board's periodic review of sustainability
priorities reflects the Company's commitment to moving forward
with the energy transition process. These material issues include
health and safety, risks and opportunities associated with climate
change impacts and moving forward the Company's diversity
and inclusion agenda.
Each year, Enel Américas develops a materiality analysis applied
at different stages to the main identified stakeholders detailed
in the Materiality section of this Integrated Annual Report. The
1.At its ordinary session held on September 21, 2020, the Board of Directors agreed to approve a procedure that allows to hold shareholders' meetings through
virtual procedures.
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Subjects
reported to
the Board of
Directors
The effectiveness of the policies approved by the Board of
Directors to disseminate within the organization, its
shareholders and the general public the benefits of diversity and
inclusion for the Company.
The organizational, social or cultural barriers detected that
could be inhibiting the natural diversity that would have
occurred if these barriers did not exist.
The usefulness and acceptance of sustainability reviews
disseminated to the Company’s relevant stakeholders.
latter is approved by the Board of Directors and submitted to
the 2022 Ordinary Shareholders' Meeting for ratification. It is
also sent to the regulator.
With regard to the relationship with shareholders and
stakeholders, the Company has put in place a procedure
detailed in the Investor Relations Policy. It also has an Investor
Relations area that channels the questions and concerns of
shareholders, bondholders, risk classifiers and of the financial
community.
Sustainability Management Meetings
Enel Américas has agreed to adopt the voluntary practice
suggested in paragraphs 1g) and 2c) of NCG No. 385 of
the Financial Market Commission, consisting of holding
meetings with the Sustainable Development Unit on a
quarterly basis, to address the issues indicated in that
paragraph. To comply with the above, the Company's
Sustainability Management reports each quarter to the Board
of Directors on trends in visits to the sustainability report
website, the results of the different business indicators
with which ESG performance is measured and which are
identified pursuant to the three-year Sustainability Plan,
as well as the acceptance of public information based on
Enel Américas' positioning in the different sustainability
indices and ratings, such as DJSI (Dow Jones Sustainability
Index), MSCI, FTSE4Good and Sustainalytics, among others.
It is recommended that the Chief Executive Officer should
be present at the meetings that the Company’s Board
of Directors holds or might hold with the Sustainability
Management.
The 2021 period
• The effectiveness of the policies approved by the Board
of Directors to disseminate the benefits of diversity
and inclusion for society within the organization, its
shareholders, and the general public.
• The detected organizational, social, or cultural barriers
that could be inhibiting the natural diversity that would
have occurred if these barriers did not exist.
• The usefulness and acceptance of sustainability reports
disseminated to relevant stakeholders.
• Policies adopted by company in terms of social
responsibility and sustainable development.
• Stakeholders identified by the Company as relevant,
as well as the reasons why such groups deserve such
status.
• The Company’s relevant risks, including sustainability
risks, as well as the main sources of such risks.
• The indicators measured by the company in terms of
Social Responsibility and sustainable development.
• The existence of targets and sustainability indicators’
development.
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Enel Américas’ Code of Ethics guarantees equal
opportunities and the absence of arbitrary discrimination
in people’s management, valuing the unique contribution
of each and every one of them. In the people management
and development processes and also during the selection
phase, the Company evaluates people in a broad way
involving those responsible, the function of People and
Organization and, where possible, the subjects who have
had a relationship with the person who is being evaluated.
The Board of Directors monitors the management of
practices in these areas and it approved the Diversity
Policy, which establishes formal procedures that aim to
provide the public with information regarding the policies
adopted in the areas of diversity and inclusion. The
Company defined the key indicators in this area reflected
in the report that the sustainability area provides the
Board of directors with every quarter. The report includes
indicators of gender and disability inclusion.
The Company promotes the principles of diversity,
inclusion and equal opportunities and strives to create
a work environment where people are treated equitably
and where they are guaranteed the right to working
conditions that are respectful of individual dignity. It also
undertakes to protect the physical and psychological
integrity and individuality of each person and opposes
any form of behavior that might cause or causes arbitrary
discrimination as to sex, age, disability, nationality, sexual
orientation, ethnicity, religion, political opinions and any
other form of individual diversity or that is harmful to
the person, his or her convictions or preferences. The
Company does not tolerate physical, verbal, visual or
psychological harassment that creates a degrading,
hostile, humiliating, intimidating, offensive or unsafe work
environment. The work environment is understood as the
place where the work activity is carried out.
Enel Américas is committed to the principles of equal
opportunities and integrity and, as a result of this, it is
part of the Refinitiv diversity and inclusion index, in which
Enel SpA leads for the second consecutive year in the
"Electric Utilities & IPPs" industrial group.
The Company has put in place a program transversal
to all Enel Américas’ business lines and subsidiaries to
identify barriers and integration plans. This initiative is the
result of Enel's accession to the Valuable 500 program,
a coalition of companies seeking to remove barriers to
disability inclusion.
Enel Américas has adopted the Human Rights Policy
defined by the Enel Group, which is based on eight
principles: rejection of forced or compulsory labor and
child labor; respect for diversity and non-discrimination;
freedom of association and collective negotiation; health
and safety; fair and favorable working conditions; respect
the rights of communities; integrity - zero tolerance for
corruption; privacy and communications.
Regarding the identification of new talents, the Board
of Directors agreed to implement training programs -
managed by the People and Organization department
- aimed at detecting and training new talents emerging
from among the Company's professionals. The objective
is to develop the skills, knowledge, and experiences of
Enel Américas professionals, together with enhancing
future leadership.
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Evaluation of the Board of Directors’ effectiveness
The Board of Directors has implemented a continuous
improvement process that includes self-evaluation and
review by an independent third party. Each year, the
Company hires the services of an external expert, who
prepares a report to detect and implement potential
improvements of Enel Américas’ Board of Directors, in
light of the best practices set forth in NCG No. 385.
Report on the self-assessment process
The methodology to prepare this report involves
interviews with directors, the Chief Executive Officer,
legal counsel, internal audit manager and the Company’s
external auditors. They address the Board of Directors’
functioning, the preparation of the sessions and the
debates that occur in the sessions, among other relevant
issues.
Board Self-Assessment
For the 2021 financial year, the self-assessment was
reviewed and validated by the BH Compliance Programs
Limited certification company. Similarly, the person
or team of people who performed this task meet the
established requirements, that is to say, five years of
experience in process evaluation, effectiveness of
controls and experience in more than 100 certification
processes of crime prevention models both in Chile and
abroad. The independent review was also conducted by
BH Compliance Limitada. The results of this evaluation
are used as the input to structure the training planned
for the following period. This evaluation is carried out
each year1.
Hiring Board Advisors
When the Board of Directors has requested the advice of
an expert, such a professional is selected at the request
of one or more directors respecting the voting quorums.
To appoint advisors, directors take into consideration
their background, knowledge of the industry or subject
matter, as well as their reputation in the market, among
other qualifications. All of the above in compliance with the
provisions of article 43 of the Law on Corporations (Spanish
acronym LSA) and 80 of the LSA Regulations. Additionally,
if the external advisor is a person related to the Company,
strict compliance is given to Title XVI of the LSA.
1. BH Compliance has been registered on the payroll of the Santiago Stock Exchange since June 1, 2016.
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Enel Américas has put in place adequate Corporate
Governance practices that allow directors to obtain the
necessary training to improve in all those areas in which
they consider that they might display weaknesses, including
those related to organizational, social, or cultural barriers
that may be inhibiting the natural diversity of capacities,
visions, characteristics, and conditions that would have
occurred in the Board of Directors in the absence of such
barriers.
The Company has put in place a Board Training Procedure
whose calendar of permanent training and continuous
improvement, taking into consideration the possible
suggestions of the Chief Executive Officer and the
managers of the areas that may be affected, is approved
by the Board of Directors each year. The subjects in which
managers are trained include, among others long-term
trends in the energy market; analysis of the markets in which
the Company operates and related problems; strategic
economic analysis of major competitors; most relevant risks,
considering, among others, the main tools to deal with them,
including sustainability; accounting principles applicable
to the Company; legal and regulatory changes; verdicts,
sanctions or declarations of the most relevant authorities
that occurred in the last year at local and international
levels, related to the duties of care, secrecy, loyalty,
diligence and information; corporate governance practices,
including those adopted by other entities both locally and
internationally; main progress registered during the last year
in matters of inclusion, diversity and sustainability reports;
conflicts of interest and the ways in which they can be
avoided or resolved in the best corporate interest; corporate
organization; and others that may be suggested from time
to time by the directors or the Company’s management.
The Permanent Training and Continuous Improvement
Procedure includes the scope of the concept of conflict
of interest in the Board of Directors. It is established in the
current legal provisions, the regulations of the CMF, in the
Manual for the Management of Information of Interest to the
Market and also in the Company’s Code of Ethics.
Meanwhile, in order to respond adequately to the Company’s
specific needs, the procedure for the Board of Directors’
continuous improvement does not specifically contemplate
situations that trigger a change in the functioning of this
administrative entity. This is because, in practice, managers
are continuously informed of the events that affect them and
in crisis situations, they are able to act in a timely manner
taking all the measures they deem appropriate to resolve
each specific situation. In consideration of the provisions of
Circular Letter No. 1530, the Board of Directors approved
the technological means to be used by directors who are
not physically present in the sessions. This was approved at
the meeting held on March 23, 2001. The meeting approved
telephone conference and videoconference as technological
means to be used in the situations described above, bearing
in mind, in any case, that these means may be used provided
that they meet the requirement that the attending directors
- whether they are physically present in the room during
the session or those who are not - are simultaneously and
permanently communicating with each other.
In 2021, the Company’s directors were trained in various
subjects such as: Data Protection, Updates of Law No. 20,393
on Criminal Liability of Legal entities, structural reforms in
Chile (retirement, labor market, among others), Circular
Economy and trends in electro-mobility.
Hiring expert advice
Since the Company is part of a multinational group, the
Board of Directors is constantly informed of the corporate
governance practices agreed among the Group’s other
companies, which are analyzed from time to time to see
their possible implementation in Chile. It may also request
the training it deems pertinent to correctly manage the
Company, which includes hiring the advice of external
experts so that he or she might detect aspects of the
Company and the functioning of the Board of Directors
that can be improved or strengthened and implemented.
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Training 2021
January
March
Modality
Activity
Descripion
Data Protection
60-minute talk/ Internal Audit
Enel Americas
Updates on Law No. 20393 on Criminal
Liability of Legal entities
60-minute talk/ External Expert
September
Monographic
Session
Structural reforms in Chile (retirement, labor
market, among others)
60-minute talk/ Internal Expert
October
November
Circular Economy
60-minute talk/ External Expert
Electric Mobility Trends
60-minute talk/ Internal Expert
Induction of new directors
The Company has put in place an Induction Procedure for
New Directors, designed through the discussion with the
Chairman and Secretary of the Board. It considers existing
experience and possible functions of the Board or the
Directors’ Committee. The procedure was approved by
the Board of Directors at a meeting held on September 28,
2015. It indicates the main documents the new directors
are provided with, the content that includes matters
related to the business, strategies and risks that concern
the Company. This way, the new directors have access to
extensive information about the Company. The procedure
also includes a series of meetings with the Chairman of the
Board and various managements.
Documents to provide to the directors
Directors have access, among other documents, to the
Bylaws, minutes of meetings of the Board of Directors and
the Directors’ Committee, as is the case of members of
said committee, minutes of shareholders' meetings, for
the last two years; significant events, reports, sustainability
reports, audited financial statements and quarterly financial
statements, risk reports, human rights policy, among others.
The content of the documentation includes matters related
to the business, strategies and risks that concern the
Company. This way, the new directors can access extensive
information about the Company and not only the one
that is most relevant. Pursuant to the procedure, the new
director is presented with the valid legislation related to
the Company’s business. Among others, the new directors
are given copies of Law No. 18046 on Corporations, the
Regulations on Corporations, Law No. 18045 on the
Securities Market. Similarly, he or she is provided with
manuals, policies, and others that the Company has
adopted internally for its proper functioning, including,
but not limited to, the Manual for the Management of
Information of Interest to the Market, the Code of Ethics
and the Zero Tolerance with Corruption Plan.
Meetings with management
As part of the induction procedure, the new directors meet
the Chairman of the Board of Directors and the heads of
the different departments where the business and the
most relevant issues of each department are explained. At
such meetings, the new directors may raise concerns and
request further information if they deem it necessary. The
new directors are informed of the mission, vision, strategic
objects and, as provided for in the procedure, they are also
given certain information such as, for example, the Human
Rights Policy and the Sustainability Reports, instruments that
explain the values and principles that govern the Company
and, of course, those which make it up, including inclusion
and diversity policies. Finally, the Company's values are also
included in the Company's Code of Ethics, as well as in the
Zero Tolerance with Corruption Plan.
Directors' Duty of Care and Reserve
The new directors are informed of the duties that
concern them and, additionally, they are given the LSA,
the Regulations of the LSA and other internal documents
that contain the legal provisions governing the duties
and responsibilities of the Board of Directors of an open
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declarations, these are also included in the information
to be provided under the Induction Procedure for New
Directors.
Pursuant to the procedure in force, the new directors are
given a copy of all the minutes of the Company's Board
of Directors’ meetings corresponding to the last two (2)
years. The aim of doing that is to provide them with all the
agreements adopted by the Board of Directors to avoid
biases in the presentation of information or that it might
be insufficient for the new director.
The Board of Directors has defined the concept of conflict
of interest providing the Manual for the Management of
Information of Interest to the Market and the Code of Ethics.
The Board of Directors takes into consideration the legal
provisions in force and the regulations of the CMF. The
Induction Procedure for New Directors addresses the issue
of dealing with conflicts of interest.
Attending Board sessions
The frequency of regular meetings of the Board of Directors
is established in the Company's Bylaws. With regard to the
minimum duration of meetings or times dedicated to being
a director, it has been estimated that it is not necessary to
establish specific regulations since the dedication given to
the functions of director, according to the provisions of the
LSA, is regulated by the standard of care and diligence that
people ordinarily employ in their own businesses, being the
directors jointly and severally liable for the damages caused
to the Company and to the shareholders by their intentional
or culpable actions.
The Board of Directors has implemented a policy that
establishes that management must provide directors with
Information system for directors
The Board of Directors has put in place an Information
and Electronic Dispatch System, which allows its members
to access securely, remotely, and permanently the
documentation related to the sessions. The information is
made available at least three days before each meeting. This
system makes it possible to1:
• Access to, notwithstanding the legal obligations regarding
the deadline for sending and content of the citations, the
minutes or document that synthesizes all the matters that
will be treated in that session and the other background
that will be presented in said session or additional
necessary to prepare for it.
the relevant information on the subjects to be discussed in
each session, at least three days in advance, to allow them to
analyze such issues. Similarly, the directors are continuously
informed of the Company’s relevant events and, when they
deem it necessary, they agree on extraordinary sessions for
the issues that require prompt attention.
The Board of Directors has put in place an electronic
dispatch system, which allows directors to access securely,
remotely, and permanently the documentation related to
their sessions. In 2021, fifteen Board sessions were held,
with an average 99% attendance. The minimum percentage
of attendance to the ordinary and extraordinary sessions is
75%. All the sessions mentioned were held virtually.
• The access referred to in point above, at least five days
before the respective session. However, the deadline
adopted is three days before the respective session.
• Access the reporting system implemented by the
Company.
• Review the final text of the minutes of each session.
• It also aims at the paperless management of all the
documentation that is made available to Board members.
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Visits to facilities
Since 2017, the Board of Directors has organized at least
two annual visits to a unit or facility of Enel Américas and
subsidiaries. In the meetings that the Company’s Board of
Directors holds or might hold for the points referred to above,
the presence of the Chief Executive Officer of the same is
always recommended. The aim of the above is to get to know:
The Board approved the visit schedule to the Company's
facilities for the 2021 period at the meeting held on November
26, 2020. It agreed to make at least one annual visit to
the premises or facilities of Enel Américas S.A. and/or its
subsidiaries (Brazil, Colombia, and Argentina) to learn about
the matters indicated in the same paragraph.
• The status and operation of these units and facilities.
• The main roles and concerns of those who work there.
• The recommendations and improvements that in the
opinion of those responsible for these units and facilities
would be relevant to improving their operations.
Replacing the Chief Executive Officer
Replacement procedure
In case of an unforeseen replacement of the Chief Executive
officer, he or she will be replaced automatically and on an
interim basis by the Administration, Finance and Control
officer. After that, a board meeting must be convened
immediately to designate the person who will occupy the
position definitively. In the event of a replacement of a
main executive, the Chief Executive Officer must decide
who will replace him or her until the appointment of a
permanent replacement. In the case of the appointment
of a new Chief Executive Officer or chief executive,
the Board of Directors must examine the background
information about the person, which must include, at least,
the candidate’s academic level, previous experience, and
career. At the same time, the executive leaving the position
Given the extraordinary circumstances that still persist
because of the COVID 19 health contingency, the Board
of Directors could not make any trips in 2021 and all the
visits to the facilities of the subsidiaries in Enel Colombia,
Brazil and Perú were virtual. At the time, the directors met
with the Company’s employees, listened to presentations
on the situation and toured multiple facilities online. It is
recommended for the Chief Executive Officer to be present
at the visits made by the Board of Directors.
must prepare a detailed report of the relevant pending
matters of his competence, the current status of each of
them, associated risks and recommended steps to follow,
in addition to holding one or more personal meetings with
the new professional.
Succession Programs
Regarding the identification of new talents, the Board of
Directors agreed to implement training programs, managed
by the People and Organization Management department,
aimed at detecting and training new talents emerging
from among the Company's professionals. The objective
is to develop the skills, knowledge, and experiences of
Enel Américas employees, together with enhancing future
leadership.
1. It was agreed at the Board meeting of August 28, 2015
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Directors’ committee
Composition of the Directors’ Committee
The composition of the Directors’ Committee for the last two years is detailed below:
Members of the Directors’ Committee
On 12.31.2020
Name
Hernán Sommerville Senn
Domingo Cruzat Amunátegui
Patricio Gómez Sabaini
Members of the Directors’ Committee
On 12.31.2021
Name
Hernán Sommerville Senn
Domingo Cruzat Amunátegui
Patricio Gómez Sabaini
Position
Chairman
Director
Director
Relation
Independent
Independent
Independent
Start date
04-30-2019
04-30-2019
04-30-2019
End date
04-29-2021
04-29-2021
04-29-2021
Position
Chairman
Director
Director
Relation
Independent
Independent
Independent
Start date
04-29-2021
04-29-2021
04-29-2021
End date
-
-
-
Role of the Directors’ Committee
Article 50 bis of the Law on Corporations establishes the powers of the Directors' Committee. The functions of this entity are
also those indicated in the Bylaws as well as those entrusted by a shareholders' meeting or by the Board of Directors itself.
At the ordinary meeting of the Board of Directors of April, 30 of 2010, the following functions were delegated to the Company’s
Directors’ Committee:
• Supervise the work of the Company's external auditors.
• Review and approve the external audit firm's annual audit plan and the means to develop it.
• Evaluate the qualifications, independence, and quality of work of the external audit firm.
• Establish the Company's policies regarding the hiring of former employees of external audit firms.
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Directors’ Committee’ annual report
The Board of Directors met 13 times in 2021. The average
attendance of the directors in the sessions was 100%.
During the period, the Committee addressed the matters
within its competence, fully complying with the obligations
set forth in Article 50 bis of Law No. 18046 on Corporations
and the Sarbanes Oxley Act of the United States of America
and other applicable regulations.
1.- Consolidated Financial Statements
At the ordinary session held on February 25, 2021, the
members of the Committee unanimously declared having
examined the Consolidated Financial Statements as of
December 31, 2020, their notes, the Income Statement
notes and the Significant Events, as well as the reports of
the External Auditors and the Auditors on the subject.
At the extraordinary session held on May 3, 2021, the
Directors’ Committee unanimously declared having examined
the Company’s Consolidated Financial Statements as of
March 31, 2021, their Notes, Income Statements and
Significant Events.
At the extraordinary session held on July 28, 2021, the
Committee unanimously declared having examined the
Company’s Consolidated Financial Statements as of June 30,
2021, their Notes, the Press Release, the Income Statements
and Significant Events, as well as the opinion of the External
Auditors issued "without exception" dated July 28, 2021,
signed by Mr. Nolberto Pezzati, partner of KPMG Auditores
y Consultores SpA.
At the ordinary session held on October 27, 2021, the
Directors’ Committee, unanimously declared having
examined the Company’s Consolidated Financial Statements
as of September 30, 2021, their Notes, the Income
Statements, the Significant Events, and the report related
to transactions between related parties prepared by the
external auditors.
2.- Review of the services provided by external auditors
At the ordinary sessions held on March 25, and November
25, all in 2021, the Committee analyzed the services to be
provided by external auditors, which were not a recurrent
external audit, and it agreed to unanimously declare that
they did not compromise the technical suitability or the
independence of judgment of the respective external
audit companies providing the services. The above
pursuant to the provisions of section 202 of the Sarbanes
Oxley Act, article 242, final paragraph, of Law No. 18045,
on the Securities Market and in the Regulations of the
Directors’ Committee.
3.- Review of operations between related parties
At the ordinary session held on February 25, 2021, the
Directors’ Committee examined an operation with related
parties consisting of a contract for the supply of "Microsoft"
software licenses and services, between Enel Américas, as
recipient, and Enel Chile S.A. as supplier, for a total amount
of 117,059 euros and for a period of three years.
At the extraordinary session held on May 3, 2021, the
Directors’ Committee examined an operation with related
parties consisting of the merger, in one or several stages, of
the Colombian subsidiaries of Enel Américas, Emgesa S.A.
E.S.P, Codensa S.A. E.S.P. and Enel Green Power Colombia
S.A.S. E.S.P., with the Chilean subsidiary ESSA 2 SpA.
At the ordinary session held on June 24, 2021, the Directors’
Committee analyzed an operation with related parties
consisting of updating the contract for the provision of
services between Enel Américas S.A., as the recipient of
the services, and Enel Chile S.A., as the provider. The contract
is valid for one renewable year and the price of the services
contemplated in the contract corresponds to a total annual
amount of 101,805 UF, plus Value Added Tax (VAT).
At the ordinary session held on June 24, 2021, the Directors’
Committee examined an operation consisting of a contract
for the provision of services and supply of SAP-AFC licenses
between Enel Américas, as recipient, and Enel SpA, as
supplier. The renewable contract will have a duration of one
year and a price of 43,169 euros.
At the ordinary session held on June 24, 2021, the Committee
analyzed an operation consisting of a contract for the
provision of GDS services to manage information technology
and telecommunications systems and projects, between
Enel Chile, as a supplier, and Enel Américas, as the recipient.
The contract will have a duration of one year, with the
possibility of renewal for equal and successive periods.
At the ordinary session held on November 25, 2021, the
Directors’ Committee analyzed an operation with related
parties, referring to the renewal of the intercompany loan
granted to the subsidiary Enel Brasil, initially issued in 2017
and then renewed in 2019. The amount of the mutual
that was approved in the session held on November 25,
2021, totaled the nominal single and total amount of US $
150,000,000, due on December 11, 2023 and a Libor interest
rate USD + 2.35%, which at the moment is equivalent to a
fixed interest rate in United States dollars of 3.17% per year.
At the ordinary session held on November 25, 2021, the
Directors’ Committee examined an operation consisting
of structuring and granting a guarantee program for
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Américas will grant corporate guarantees (parent company
guarantees, guarantees or other corporate guarantees), to
guarantee their obligations, for an amount of up to US$2
billion (plus tax, if applicable). The period of the guarantee
program will be until December 31, 2021.
4.- Supervision and evaluation of external auditors
At the ordinary session held on February 25, 2021, the
Committee unanimously agreed to describe as reasonable
the work of the Company's external auditors, KPMG
Auditores Consultores SpA, carried out during the 2020
financial year.
5.- External auditors’ report on bank transfers and money
brokerage
At the ordinary session held on February 25, 2021, the
Directors’ Committee unanimously agreed to record that it
had been formally and specifically informed of the report
of the Money Brokerage and Bank Transfer prepared by
the External Auditors, KPMG Auditores Consultores SpA.
It was further indicated that, although the rule described
had been repealed, there remained a legal obligation that
indicated that no company that has not been formally
authorized by the competent authorities may venture
into the private business of banks or carry out money
brokerage transactions.
6.- Internal control report
At the ordinary session held on February 25, 2021, the
Directors’ Committee agreed to record that it had been
formally and specifically informed of the internal control
report issued by KPMG as the Company's external auditor,
which establishes that no significant deficiencies or
significant weaknesses of internal control were identified
that affect or might affect the preparation and presentation
of the Company's consolidated financial statements as of
December 31. Feb 2020
7.- External auditors’ review of matters foreseen in NCG
N° 385
At the ordinary session held on February 25, 2021, the
Committee unanimously declared having examined the
matters contained in paragraph 1d) of the NCG No. 385
of the Financial Market Commission according to the
presentation made by the external auditors, who stressed
that none of the hypotheses described and indicated in
sections ii had occurred, iii and v of the aforementioned
number.
At the ordinary session held on April 29, 2021, the Committee
unanimously declared having examined the matters
contained in paragraph 1d) of the NCG No. 385 of the CMF,
as presented by the external auditors.
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8.- External auditors’ fees for 2020
At the ordinary session held on January 28, 2021, the
Directors’ Committee unanimously declared having examined
the fees paid during the year 2020 to the different external
audit firms employed by the Company.
9.- External audit contract between Enel Américas S.A. and
KPMG Auditores Consultores SpA for the financial year 2021
At the ordinary session held on May 27, 2021, the Directors'
Committee unanimously declared having examined
and approved the contract to be signed between Enel
Américas S.A. and the External Auditors KPMG Auditores
Consultores SpA.
10.- Proposal of external auditors
At the ordinary session held on 25 March 2021, the Directors’
Committee unanimously agreed to propose to the Board
of Directors that the following order of priority should be
suggested to the Ordinary Shareholders' Meeting for the
appointment of Enel Américas' external audit firm for 2021:
1st KPMG; 2nd Mazars, 3rd PKF and 4th ARTL. The grounds
considered relevant to propose, in the first place, KPMG as
external auditor of Enel Américas S.A. were the following:
(i) it presented the most competitive proposal according
to the technical and economic evaluations verified on the
proposals received; (ii) it has a high qualification related
to the quality of work team as well as an extensive
experience in the electricity sector; (iii) it is one of the four
most important external audit firms at international and
national levels and (iv) it is the external audit firm with the
highest level of synergy with Enel Américas S.A., since the
controller of Enel Américas S.A., Enel SpA, has KPMG as its
main external auditor.
11.- 20-F Form filed with the US Securities and Exchange
Commission (SEC).
At the ordinary session held on April 29, 2021, the Directors’
Committee unanimously declared having examined the
financial statements under IFRS incorporated into Form
20-F so that they could be filed with the Securities and
Exchange Commission of the United States of America
(SEC) to comply with the rules and requirements issued by
said public authority.
12.- Proposal of private risk rating agencies
At the ordinary session held on February 25, 2021, the
Directors’ Committee unanimously agreed to propose
to the Company’s Board of Directors that the firms Feller
Rate Clasificadora de Riesgo Limitada and Fitch Chile
Clasificadora de Riesgo Limitada should be suggested at
the respective shareholders' meeting as national risk rating
agencies; and Fitch Ratings, Moody's Investors Services and
Standard & Poor International Ratings Services, as private
international risk rating agencies, for the financial year 2021.
13.- Analysis of complaints to the ethics channel
At the ordinary session held on June 24, 2021, the Directors’
Committee unanimously issued its opinion on each of the
complaints presented, delivering directions to follow for each
of these and confirming what has already been resolved
by this entity, in the sense that it was the president of the
Directors’ Committee who should call for an extraordinary
session if a complaint so justifies, in the opinion of the
Committee’s’ Chairman.
14.- Examination of internal control letter Circular No. 422
of the CMF
The Directors’ Committee discussed this matter at the
ordinary session held on February 25, 2021. On December
6, 2007, the CMF issued Circular Letter No. 422, which
complements Circular Letter No. 980 of December 24, 1990.
This Circular Letter provides specific instructions regarding
internal control procedures, so that it contemplates the
delivery of a provisional report and extends the deadline
indicated by Circular Letter No. 980 for external auditors
to deliver a final internal control report, indicating that
they may send it, at the latest, until the date on which the
Board of Directors is informed of the financial statements
corresponding to December 31 of each year.
Mr. Hernán Somerville Senn, chairman of the Directors’
Committee, indicated that the aforementioned rules
had been repealed, but that despite the aforementioned
repeal, article 246 of the Securities Market Law, among
other matters, establishes that external audit companies
are responsible for informing the Board of Directors and the
Directors’ Committee, where appropriate, of the deficiencies
that are detected within the external audit in the adoption
and maintenance of accounting practices, administrative
and internal audit systems, identify discrepancies between
the accounting criteria applied in the financial statements
and the relevant criteria generally applied in the industry
in which said entity carries out its activity, as well as, in
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that of its subsidiaries included in the respective external
audit; consequently, the requirement to report internal
control situations detected by KPMG was maintained. He
pointed out that, regarding the timing of its issuance, the
aforementioned repeal had not affected the deadlines set by
NCG No. 30 for the delivery of the Financial Statements (FS)
and, in that sense, it should be understood that the internal
control report was part of the information that had to be
delivered by the external auditors during the first quarter of
each year on the occasion of the review and approval of the
annual FS. Therefore, the Directors’ Committee unanimously
agreed at the ordinary session held on February 25, 2021, to
record that it had been formally and specifically informed
of the Internal Control Charter dated February 25, 2021,
prepared by KPMG Auditores Consultores SpA to comply
with the aforementioned regulations.
15.- Review of the remuneration system and compensation
plans of the Company's managers, main executives, and
employees.
At the ordinary session held on June 24, 2021, the Directors’
Committee unanimously declared having examined the
remuneration systems and compensation plans of the
Company’s managers, main executives, and employees.
16.- Proposal for the Directors’ Committee’s budget for
the financial year 2021
At the ordinary session held on February 25, 2021, the
Directors’ Committee unanimously approved the proposal
of the Directors’ Committee’s Budget for 2021, consisting
of the sum of 10,000 UF for the purposes of operating
expenses of the aforementioned Committee and its
advisors. Similarly, it unanimously resolved to submit the
aforementioned proposal to the next Ordinary Shareholders'
Meeting of Enel Américas S.A., which would be held in April
2021, so that it could finally resolve its decision pursuant
to its powers.
17.- Analysis of expenses in the external 2020 audit
At the ordinary session held on January 28, 2021, the
Committee unanimously declared having examined the
payments made to the external auditors by the companies
of the Enel Américas Group to different external audit
firms during the 2020 financial year, distinguishing for
this purpose between recurring external audit services
from non-recurring ones and services other than external
audit, concluding that these had not affected either their
independence or suitability.
This way, and as reflected in this report, the Directors’
Committee has fully complied with the obligations set forth
in article 50 bis of Law No. 18046 on Corporations.
18.- Expenses of Enel Américas S.A.’s Directors’ Committee
The Directors’ Committee did not make use of the operating
expenses budget approved by the Ordinary Shareholders'
Meeting held on April 29, 2021.
AGREEMENT N°41/2021
After exchanging their opinions on the presented
report, the Directors’ Committee of Enel Américas S.A.,
unanimously agreed to approve the proposed text of
the Directors’ Committee’s Management, Activities and
Expenses Report for the financial year 2021, so that it may
be informed at the next Ordinary Shareholders' Meeting
and included in the Company's Report, highlighting the
excellent work carried out by the Company’s Legal Office
and authorizing Mr. Maurizio Bezzeccheri , the Company’s
Chief Executive Officer, and Mr. Domingo Valdés Prieto, the
Company’s legal counsel and secretary of the Board, to act
indistinctly, either of them, to complement this report with
the activities reported in the minutes but not included in
it, corresponding to 2021.
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Directors’ Committee Meetings
• Meeting of the Directors' Committee with the risk area
The Risk area must report at least once a year to the
Directors’ Committee on Enel Américas' Risk Map, including
both direct and indirect risks. For more detail review the
Chapter on Strategy and Risk Management.
commitment to Enel Américas S.A.’s sustainability. The
delegated functions included, among others, those of
reviewing the Report and the Sustainability Plan prior to its
final approval by the Board of Directors. Also the supervision
of the Company's participation in sustainability indices.
• Meeting of t he Directors’ Committee wit h t he
Issues covered in 2021
Sustainability area
To further improve the high standards in Corporate
Governance practices related to sustainability management
and positioning among sustainability investors and analysts,
on June 25, 2020, Enel Américas’ Board of Directors
delegated certain functions related to sustainability to
the Directors’ Committee – an entity with a permanent
structure and with a defined and periodic calendar. It
requested that the Committee should support the Board
of Directors with functions of a proactive and advisory
nature, in the evaluations and decisions related to the
Company’s sustainability, supervising, and promoting the
• The objective is to support the Board of Directors with
proactive and advisory functions, in the evaluations and
decisions related to the sustainability of the Company,
supervising, and promoting the commitment to
sustainability.
• The delegated functions included reviewing the Report
and the Sustainability Plan prior to its final approval by
the Board.
• It must also monitor the Company's participation in
sustainability indices.
1. At the Extraordinary Shareholders' Meeting of April 22, 2010, the merger of the Audit Committee with the Board Committee was approved.
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The Company has put in place contingency plans designed to react to critical events or crises, through ad-hoc committees,
which are made up of experts to face the crises or the events in question.
Executive Committees
Since 2015, Enel Américas has had a Risk Committee, whose aim is to define risk management structure and processes, as
well as their detection, quantification, monitoring, and reporting to the Board of Directors. This concerns the relevant risks of
financial nature and those related to commodities, statement of commercial debts and the Company’s credit. The Committee
is composed of: (i) the Company’s Chief Executive Officer, as its president; (ii) the Administration Finance and Control Officer
and (iii) the Planning and Control Officer. The Committee reports directly to the Board of Directors.
Board of Directors’ Remuneration
Pursuant to the provisions of Article 33 of Law No. 18046 on
Corporations, the Ordinary Shareholders' Meeting held on
April 29, 2021, agreed on the remuneration corresponding
to Enel Américas’ Board of Directors and the Directors’
Committee for 2021.
Remuneration of the Board of Directors and the Directors’
Committee
The payment consists of a fixed monthly remuneration, one
part at all event, and one part per event. This remuneration
is broken down into 216 UF as a fixed monthly payment
and UF 79.2 as a payment for attending a session, with a
maximum of 16 sessions in total. As stated in the Articles of
Association, the remuneration of the Chairman of the Board
of Directors shall be twice that of a director. In the event
that a director of the Company participates in more than
one Board of Directors of subsidiaries and/or associates or
is a director or advisor of other companies or legal entities
in which Enel Américas S.A. directly or indirectly holds any
interest, he or she may only receive remuneration in one
of said committees or boards of directors. The Company’s
executives and/or of its subsidiaries or associates will not
receive remuneration or allowances if they are directors
of any of the subsidiaries, associates or investees in any
way owned or with Enel Américas S.A.’s participation.
However, such allowances may be received by the
executives if such a situation is previously and expressly
authorized as an advance of the variable part of their
remuneration to be paid by the respective companies to
which they are linked by an employment contract.
Incentive plans
During financial years 2021 and 2020, the Company did not contemplate incentive plans for directors.
Board of Directors’ advisors’ fees
In 2021 and 2020, the Board of Directors did not spend any amounts on consultancies.
Remuneration of Directors’ Committee
The remuneration of the Directors´ Committee is a fixed monthly payment, one part at any event and the other part per event.
The compensation consists of 72 UF as the fixed monthly compensation at any event and 26.4 UF as an attendance fee per
each session, with a maximum of 16 sessions.
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Integrated Annual Report Enel Américas 2021
Directors’ Committee expenses
At the meeting held on February 25, 2021, the Company's Board of Directors agreed to propose to the Ordinary Shareholders'
Meeting to set the budget for the expenses and operation of the Directors’ Committee and its advisors for the current year
totaling UF10,000, as ratified by said meeting.
Total remuneration expenses during 2020 reached US$568,428 (Ch$449,581,577), while the same item in 2021 was US$588,810
(Ch$466,944,188). The Directors’ Committee did not incur additional expenses in external advice in the periods 2020 and 2021.
Remuneration of the Board of Directors for the period 2021 (in US$)
Name
Francisco de Borja Acha (1)
Francesca Gostinelli (1)
Giulia Genuardi (1)
José Antonio Vargas Lleras (1)
Livio Gallo (1)
Enrico Viale (1)
Hernán Somerville Senn
Position
Chairman
Directora
Directora
Director
Director
Director
Director
Domingo Cruzat Amunátegui Director
Patricio Gómez Sabaini
Director
Total general
Fixed re-
mu-neration
of the Board
of Directors
Regular and
Extraordinary
Sessions of
the Board of
Direc-tors
Fixed remu-ne-
ration of the
Direc-tors’
Com-mittee
Regular and
extraordi-nary
sessions of
the Direc-tors'
Com-mittee
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
101,947
101,947
101,947
305,841
46,855
46,855
46,855
140,565
33,982
33,982
33,982
101,946
-
-
-
-
-
-
13,486
13,486
13,486
40,458
Total
-
-
-
-
-
-
196,270
196,270
196,270
588,810
(1) Messrs. Francisco de Borja Acha B., José Antonio Vargas Ll., Livio Gallo and Enrico Viale and Mrs Francesca Gostinelli and Giulia Genuardi renoun-
ced the payment of remuneration, due to their positions as directors at Grupo Enel SpA.
Remuneration of the Board of Directors for 2020 (in US$)
Name
Cargo
Francisco de Borja Acha (1)
Chairman
José Antonio Vargas Lleras (1)
Livio Gallo (1)
Enrico Viale (1)
Hernán Somerville Senn
Director
Director
Director
Director
Domingo Cruzat Amunátegui
Director
Patricio Gómez Sabaini
Director
Total general
Fixed remu-nera-
tion of the Board
of Directors
Regular and
Ex-traordinary
Ses-sions of the
Board of Directors
Fixed remu-
nera-tion of
the Directors’
Commit-tee
-
-
-
-
94,016
94,016
94,016
282,048
-
-
-
-
48,922
48,922
48,922
146,766
-
-
-
-
31,356
31,356
31,356
94,068
Regular and
extraordinary
sessions of
the Directors'
Committee
-
-
-
-
15,182
15,182
15,182
45,546
Total
-
-
-
-
189,476
189,476
189,476
568,428
1. Messrs. Francisco de Borja Acha B., José Antonio Vargas Ll., Livio Gallo and Enrico Viale renounced the payment of remuneration, due to their
positions as directors at Grupo Enel Spa.
Review of the executive team’s salary structures:
• The Company’s Board of Directors did not need to establish a formal procedure for this type of situations. The Directors'
Committee usually addresses these matters periodically and in detail, in compliance with the provisions of article 50 bis
of the LSA. Furthermore, the salaries and compensation policies of the Company's top executives are based on balanced
incentives. While establishing the incentives special care is taken not to encourage the Company's exposure to risks or the
commission of wrongful acts.
• Although there is no formal procedure established by the Board, information on the subject is disseminated to the public
through the Integrated Annual Report, which can be found on the corporate website. As the entity in charge of administration,
the Board has not considered it necessary to implement this practice to date.
Corporate Governance Report 239
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Experience and diversity of the Board of Directors
Mr. Francisco de Borja Acha Besga
Chairman
Rut (DNI): 05263174-S
Date of Birth: February 17, 1965
Nationality: Spanish
Profession: Degree in Law from Universidad Complutense
de Madrid (1988), State Lawyer (1991)
Date of joining the Board of Directors: June 30, 2015
Career
Since 2015, he has been Secretary General of the Board and
Director of the Legal Department of Endesa S.A., as well as
a member of the Board of Directors of Enel Iberoamérica
and Patron of the Endesa Foundation.
Director of Legal Advice department and the Corporate
Secretariat of the Enel Group (2012-2015). Director General
of the Legal Advice Team of Endesa (1998-2013). Director
of the Legal Department of the Sociedad Estatal de
Participaciones Industriales (1997-1998). Secretary General of
the Board of Directors and Director of the Legal Department
of the Agencia Industrial del Estado (1996-1997). State
Lawyer, Head of the Regional Legal Service of Madrid State
Agency of Tax Management (1995-1996). State Lawyer, Legal
Service of the State before the Superior Court of Justice in
Madrid (1991-1995). He was also Professor of Commercial
Law at Universidad Carlos III in Madrid (1991-1995).
Independence
Pursuant to the criteria established by the Dow Jones
Sustainability Index, those of the Sarbanes-Oxley Act and
the NYSE standards, he does not meet the requirements
of independence.
240
Integrated Annual Report Enel Américas 2021
Mr. Hernán Somerville Senn
Director
Rut (DNI): 4.132.185-7
Date of Birth: February 11, 1941
Nationality: Chilean
Profession: Lawyer, graduate of Universidad de Chile
Other studies: Master of Comparative Jurisprudence,
University of New York
Date of joining the Board of Directors: July 29, 1999
Career
Lawyer, graduate of the Law School of Universidad de
Chile, Santiago, in 1966 with postgraduate studies at Yale
University and New York University. In the latter, he also
studied a master’s degree in Comparative Law (1967). He
began to work at the Law Firm of Helmut Brunner (1959-
1965). Taking advantage of the opportunity to study in
the United States, he worked in the Law Firm of Dewey,
Ballantine, Bushby, Palmer & Wood in New York (1966-
1967). From 1968 to 1982, he held various positions at
Adela Investment Co. S.A. in Lima, Caracas, and Santiago.
He started as a lawyer and then became an executive in
charge of Adela's problem loans and investments in Bolivia,
Venezuela, and the Caribbean.
In 1983, he was hired by the Central Bank of Chile as an
advisor in the Renegotiation Process of Chile’s External Debt
and from November 1, 1983 he became the Coordinating
Director of the External Debt of the monetary organization,
in charge of all negotiations with international commercial
banks (500 creditor banks approx.) and the Paris Club (seven
creditor countries), a position he held until 1988. From
1989, he became Director and partner of Fintec Ltda., an
investment management company created in 1988 with
headquarters in Santiago. He was also President of the
Financial Manager of Transantiago and Director of Inacap.
In 1990 he published "Negotiating in Difficult Times", in
which he recounts the experience of the Chilean negotiation
process of the foreign debt. He is a member of the Chilean
Bar Association, Interamerican Bar Association of the City of
New York. Between 1992 and 2010, he was President of the
Bank Association as well as the head of the Latin American
Federation of Banks (1994-1995) and the Confederation
of Production and Commerce (2004-2006). He was also a
member of the APEC business council between 2000 and
2010. At the same time, he was also President of the Chilean
Fundacion Pacifico and President of the Chilean Peruvian
Business Committee (2004-2010). In 2010, President
Bachelet appointed him General Commissioner of the
Chilean pavilion at the 2010 Shanghai Universal Exhibition.
Independence
He is an independent director pursuant to the criteria
established by the Dow Jones Sustainability Index, those of
the Sarbanes-Oxley Act and the NYSE standards.
Corporate Governance Report 241
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Director
Mr. José Antonio Vargas Lleras
Director
Rut (DNI): 6.989.304-K
Date of Birth: April 6, 1956
Nationality: Chilean
Profession: Industrial Civil Engineer, Universidad de Chile.
Other studies: MBA from The Wharton School, University
of Pennsylvania.
Date of joining the Board: April 28, 2016
Career
Industrial Civil Engineer, graduate of Universidad de Chile.
MBA from the Wharton School of University of Pennsylvania.
He has extensive experience in the business and commercial
world both in Chile and abroad. Since the beginning of his
career, he has worked in important companies such as
Celulosa Arauco, Procter & Gamble in Cincinnati. He was
Chief Executive Officer of Watt's Alimentos, Loncoleche and
Bellsouth Comunicaciones S.A and later served as Deputy
Manager at the Compañía Sudamericana de Vapores (CSAV).
He has been Director of several private and public
companies. Among them Conpax, Viña San Pedro Tarapacá,
CSAV, Solfrut, Copefrut, Alto, Inmobiliaria Plaza Santo
Domingo, and Principal Financial Group. Regarding public
companies, he was Chairman of Correos de Chile and of
the SEP during President Sebastián Piñera’s government.
He is currently Director of Stars, IP Chile, and Embotelladora
Andina S.A. He is also Professor at the ESE Business
School of Universidad de los Andes. As part of his social
commitments, he participates in the Board of Directors
of Corporación la Esperanza, an entity dedicated to
rehabilitating people with drug addiction.
Independence
Pursuant to the criteria established by the Dow Jones
Sustainability Index, those of the Sarbanes-Oxley Act and
the NYSE standards, he is an independent director.
Rut (DNI): 79.312.642
Date of Birth: April 28, 1964
Nationality: Colombian
Profession: Law Degree, Universidad Colegio Mayor del
Rosario, Colombia
Date of joining the Board: April 28, 2016
Career
Lawyer by profession, specialized in Commercial Law
and Public Services. For more than 20 years he has been
a university professor of International Relations, Public
Services Law, and Corporate Governance.
Since 2006, he has been Chairman of Codensa and Emgesa,
an Enel Group company, leaders in electricity generation and
distribution in Colombia. He has been linked for more than
20 years to companies in the energy sector, particularly in
the gas, coal, and electricity industries.
Between 1999 and 2006 he was Chief Executive Officer of
Empresa de Energía de Bogotá (EEB).
At international level, he has been Vice Chairman and
Chairman of the Regional Energy Integration Commission
(CIER), Chairman of the Colombian Committee and Vice
Chairman for Latin America and the Caribbean of the
World Energy Council. He is currently a member of the
Global Board of Directors of this organization having held
the vice presidency of Program and Strategic Affairs. He is
a permanent guest at important forums and congresses in
the energy sector.
In 1996 he was Secretary General of the Presidency of
the Republic of Colombia (Ministerial level). He was also
Ambassador of his country to the European Union, the
Kingdom of Belgium, and the Grand Duchy of Luxembourg,
as well as commercial representative of the Colombian
Government in Spain and Mediterranean Europe.
He is Chairman of the Italian Chamber of Commerce in
Colombia and of several foundations that promote arts
and culture.
Independence
Pursuant to the criteria established by the Dow Jones
Sustainability Index, those of the Sarbanes-Oxley Act and
the NYSE standards, he is not an independent director.
242
Integrated Annual Report Enel Américas 2021
Mr. Patricio Gómez Sabaini
Director
Mrs. Francesca Gostinelli
Director
Rut (DNI): 16.941.675-N
Date of Birth: March 25, 1964
Nationality: Argentinean
Profession: Bachelor of Business Administration, George
Mason University, Virginia
Other studies: Master of Business Administration, George
Washington University, Washington DC
Date of joining the Board: April 28, 2016
Rut (DNI): GSTFNC73E41D612B
Date of Birth: May 1, 1973
Nationality: Italian
Profession: Environmental Engineer (University of Florence
in Italy)
Other studies: Master’s in economics and Energy and
Environment Management (Scuola Superiore Enrico Mattei)
Date of joining the Board of Directors: April 29, 2021
Career
Bachelor of Business Administration, graduate of George
Mason University, Virginia, in May 1988, and Master of
Business Administration, graduate of George Washington
University, Washington DC, in January 1991.
From May 2005 to date, he has been Executive Director and
Partner of the Private Equity Fund Sur Capital Partners (SCP).
He is also a member of the Board of Directors of Comercial
e Importadora Audiomusica SpA, Inmobiliaria Barcelona SA,
Aguada Park and Enel Américas.
He was a member of the Board of Directors of Integramédica,
a chain of Chilean healthcare centers and of TIBA, a satellite
services company providing services to the cable industry
in Latin America.
From May 1999 to 2004 he was managing director for Latin
America at General Electric Capital (GE Equity), in charge of
the portfolio of private equity investments in the region. He
previously worked at Banco Santander Río, in investment
banking, and in the Treasury of the Bunge & Born Group.
Idependence
Pursuant to the criteria established by the Dow Jones
Sustainability Index, those of the Sarbanes-Oxley Act and
the NYSE standards, he is an independent director.
Career
Mrs. Gostinelli has more than 20 years of professional
experience in the energy industry and the environment,
with positions ranging from regulation and energy policy
to business development, through strategy, within business
lines and holding structures.
She is an environmental engineer with a master's degree in
Economics and Energy and Environmental Management. She
joined Endesa in June 2002 as Head of Regulatory Affairs for
Italy and Head of CO2, taking over as Head of Sustainability
in 2004. In 2007 she joined Enel.
In 2016, she became Global Head of Group Strategy and
from September 2019 to date she has been Global Head
of Strategy of the Enel Group, Economics and Scenario
Planning, reporting to the Group’s CFO.
Her other relevant positions at Enel SpA include Global Head
of Generation Business Development (two years), Head of
Business Development of the International Division (four
years) and Head of International Regulation of the Enel Group
(three years).
She has experience as Director after participating in various
boards of directors of the Enel Group, including Endesa
Américas (January-April 2016), Endesa Chile (April 2015-April
2016) and Enel Green Power SpA (2013-2015).
She participates in the alumni networks at INSEAD, Scuola
Superiore Enrico Mattei and German Marshall Fund (Fellow
since 2010) as a mentor and supports various projects.
Independence
According to the criteria established by the Dow Jones
Sustainability Index, those of the Sarbanes-Oxley Act and
the NYSE standards, she is not an independent director.
Corporate Governance Report 243
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Mrs. Giulia Genuardi
Director
Rut (DNI): GNRGLI78T45G273F
Date of Birth: December 5, 1978
Nationality: Italian
Profession: De g re e i n Ec o n o m i c s a n d B u s i n e s s
Administration from the University of Palermo, Italy
Other studies: Master’s in administration, Finance and
Control from Luiss Business School, Rome, Italy
Date of joining the Board of Directors: April 29, 2021
Career
With a degree in Economics and Commerce from the
University of Palermo, she has a master's degree in
Administration, Finance and Control from Luiss Business
School. Her professional career began at the Enel Group
in 2003, where she specialized in internal audit activities,
covering a wide range of functions, and managing the
Organizational Model implementation, ex Italian Legislative
Decree 231/01.
From February 2011 to July 2013, she held the position of
Compliance Officer according to Italian Legislative Decree
231/01 in some companies of the Enel group.
Since 2014 she has been responsible for sustainability
planning and performance management at the Enel
Group, responsible for integrating environmental, social
and governance (ESG) issues into business management by
establishing and monitoring the sustainability strategy. At
the same time, she has been coordinating the sustainability
planning and reporting processes in all the countries in which
Enel has operations. She is also responsible for promoting
accountability and transparency, directing the preparation
of Annual Sustainability Reports, both at group and country
levels, and for managing the Human Rights Policy and
relevant due diligence.
Since 2018, she has managed the ESG indices and the
sustainability rating at Group level.
In 2019, she was a member of the Working Group of the
European Climate Lab Project (EFRAG) and since 2021 of
the European projects on the preparatory work for the
development of sustainability reporting standards of the
European Union, at EFRAG, Brussels, Belgium.
Since September 2020, she has been a member of the
Global Sustainability Standards Council at GRI Global
Reporting Initiative, Amsterdam, the Netherlands.
Independence
According to the criteria established by the Dow Jones
Sustainability Index, those of the Sarbanes-Oxley Act and
the NYSE standards, she is not an independent director.
244
Integrated Annual Report Enel Américas 2021
Relation between the Company, shareholders,
and the general public
Investor Relations Management
Value creation for stakeholders
Enel Américas understands that the Company meets its own interests, as well as its duties towards the market, by guaranteeing
a constant and open dialogue – based on mutual understanding of functions – with institutional investors and asset managers
or their representative associations and with all of its shareholders and bondholders. All with the view to increasing the level
of understanding of the activities carried out by the Company.
With this in mind, the Company's Board of Directors approved the Investor Relations Policy at its meeting held on July 27,
2021, to guarantee that the Company's communication should be inspired by the principles of fairness and transparency and
that it should comply with national regulations, to prevent and avoid abuse in the stock market, as well as with international
best practices. This Policy also considers the best practices adopted by institutional investors, reflected in the Enel Group's
codes and policies.
Relation with investors
The Company has specifically put in place a management
group dedicated to investor relations (Investor Relations),
dependent from the Administration, Finance and Control
Management. Stakeholders can communicate with the
department by email or telephone, using the contact
details indicated in the section dedicated to investors of
the Company's website. The office interacts on an ongoing
basis with Institutional Investors, as well as with financial
analysts, risk rating agencies, among others.
The unit also continually interacts with shareholders and
bondholders, providing them with useful indications on
subjects of interest, mainly in relation to shareholders'
meetings and related accreditation procedures and, more
generally, regarding corporate governance or dividend
matters, among others.
The information provided to institutional investors and to the
Company’s shareholders and bondholders by the Investor
Relations office, as well as by any other duly authorized
representative of the Company, must meet the criteria of
truthfulness, clarity, consistency, integrity, and symmetry of
information. Such information shall be provided in a timely
manner and pursuant to applicable internal corporate
governance rules and practices, in order to guarantee
compliance with national regulations established for this
purpose.
The company has an Investor Relations department in charge
of providing transparent, timely and quality information to
the market on the main financial, strategic, and operational
issues of the Company.
The main communication channels with the market include
our website, the Investor Relations app, conference calls,
emails, face-to-face meetings, and participation in local
and international conferences.
Regarding the documentation available to investors, it
mainly includes presentations of quarterly results, annual
reports, annual sustainability reports, 20-F reports, financial
statements report analysis and quarterly financial tables, in
addition to corporate presentations.
Additionally, since 2016, each year the Company presents
its strategic plan for the following three years, which shows
the main strategic guidelines and financial and business
projections.
Corporate Governance Report 245
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To facilitate the effectiveness of the dialogue with
institutional investors and with all shareholders and
bondholders – and also to guarantee the clarity and
symmetry of the content of the information - the corporate
website (https://www.enelAméricas .com/es.html.html) has
a special section called "Investors", which includes the
documents and information considered of the greatest
interest for this purpose. They can be consulted in their
Spanish and English versions.
In line with international best practices, apart from
guaranteeing continuous dialogue with investors, as well
as with financial analysts and risk rating agencies, among
others, the Investor Relations department offers a series
of opportunities for interaction, whose methods and
opportunity vary according to the subjects discussed. These
include:
Conference calls with institutional investors and financial
analysts in which the Company presents the economic and
financial results previously disclosed to the market. In order
to guarantee the conditions of information symmetry, at the
same time as each conference call is organized, the relevant
supporting documentation is published in the "Investors"
section of the corporate website.
Regular meetings with the financial community (Capital
Markets Day or Investor Day): in which the Company's
Investor Relations department provides to institutional
investors, financial analysts and risk rating agencies, among
others, with the updates of the Company's strategic plan.
Roadshows: where the Company's Investor Relations
department verify meets with institutional investors to
explain in detail, and in compliance with national regulations,
the prevention of stock market abuse, the Company's
strategic plan, the most recent economic and financial data,
and any extraordinary transactions in progress. At the same
time, these events provide an opportunity for conversation,
allowing the aforementioned area to listen to requests
coming from the market.
The Company's Board of Directors is tasked with periodically
verify the correct application of this Investor Relations Policy
and the adequacy of the relevant provisions, according to
the evolution of best practices in this area at national and
international levels. The Company’s Board of Directors, in
compliance with the provisions of the aforementioned Policy,
shall be subject to compliance with the duty of diligence or
care and the duty of loyalty that directors inherently have in
the usual exercise of their functions.
2021 Activities
During 2021 , Enel Américas participated in seven
conferences, of which six conferences were international,
and one national, where there were instances of meetings
with various investors around the world. Additionally, the
company held two roadshows, organized by international
banks, who have the main task of coordinate the agendas
and meetings of the company`s management. In this way,
Enel Américas maintained around 300 meetings during
the year 2021, considering both one-on-one meetings
requested by investors, such as aforementioned roadshows
and conferences. All IR activities were carried out in virtual
format, product of the COVID-19 pandemic. Our Investor
Relations department is available to address any concerns
about the company, either in Spanish or English, through
the mail ir.enelamericas@enel.com.
Analyst Coverage
Enel Americas has 11 analyst coverages, of which six are
international and five are national. Currently, the company
has six coverages with a positive rating and five coverages
with a neutral rating. There is no coverage with a negative
rating.
Additionally, the Company considers the coverage of all
reports coming from major global and local brokers, with the
exception of those that have not updated their estimates
in the last 12 months.
For more information visit the Investors section of our
website: https:// www.enelamericas.com/es/ inversionistas.
html
246
Integrated Annual Report Enel Américas 2021
Presentation of candidates for directors
The Board of Directors has implemented a formal procedure
so that the Company’s shareholders can be informed - at
least three months before the shareholders' meeting at which
directors will be elected - about the diversity of their capacities,
conditions, experience, and visions that in the opinion of the
entity should be part of it to have a better position to guarantee
the Company’s corporate interest. The Board of Directors
does not issue opinions regarding the capacities, conditions,
experience, and visions that directors should have, since it
understands that the election of its members is a sovereign
and independent decision of its shareholders, who must decide
what are, in their own opinion, the capacities, conditions,
experience and visions that they seek in their directors.
Nor does it issue opinions regarding the maximum number
of boards of directors that the directors who are elected
by the shareholders should be part of. Given the diversity
of companies and industries in Chile, it is estimated that
it is not possible to make such a suggestion based on a
number of boards of directors, as it is not possible to know
the specific requirements of each of them and the particular
circumstances of each director.
establishes that the Company deems it appropriate for
shareholders to receive the information regarding the
candidates for directors with a due prior notification of
the shareholders' meeting at which their election takes
place.
The Board meeting held on March 27, 2013, approved
the procedure indicating that information regarding a
candidate for director, including his or her experience
and professional profile, must be made available to
the shareholders on the Company's website at least
two days before the respective meeting, if provided
by the respective candidate in a timely manner to the
Company. The Board of Directors agreed at a meeting
held on September 28, 2015 with the same anticipation
referred to above, to make available to its shareholders
and on the Company's website, information on whether
each candidate for director maintains or has maintained
in the last 18 months contractual, commercial or other
relations with the Company’s controller ; and with its main
competitors or local suppliers, as long as the information
regarding the latter is provided by the respective candidate.
Enel Américas has put in place a Shareholder Information
Procedure on the Background of Candidates which
The Company presented the candidates for directors ten days
before the 2021 Ordinary Annual Meeting, which elected the
members of the Board of Directors for a period of three years 1.
Procedure for remote participation at shareholders’ meetings
The Company has a Remote Participation Procedure
prepared pursuant to the applicable regulations
and legal provisions, making it possible for ordinary
shareholders' meetings and the attendance record and
the corresponding votes to be carried out remotely. This
procedure, which considers the mechanism for board
enrolment and validation, was made available on the
Company's website. It detailed the structure of remote
participation and the mechanisms used. The technological
platform used to register attendance and electronic
voting of the matters to be discussed at the shareholders'
meeting was made available by DCV Registros and the
Santiago Stock Exchange. This document also established
the Enrolment Procedure.
1. The proposal for candidates for directors was made in accordance with the provisions of article 50 bis of Law No. 18046 on Corporations and the provisions
of Circular No. 1956 of December 22, 2009, issued by the Commission for the Financial Market.
Corporate Governance Report 247
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Regulatory
Information
Articles of incorporation
Historic information
Risk factors
248
Integrated Annual Report Enel Américas 2021
Other Corporate Regulatory Information 249
Other Corporate
Regulatory Information
Articles of incorporation
Incorporation
The Company that gave rise to Enel Américas S.A. was
initially launched under the name of Compañía Chilena
Metropolitana de Distribución Eléctrica S.A. by a public deed
dated June 19, 1981, issued by Patricio Zaldívar Mackenna,
Notary Public in Santiago, and modified by a public deed
on July 13 of the same year and by the same notary public.
The Company’s incorporation was authorized, and its
bylaws approved by Resolution 409-S of July 17, 1981 of the
Securities and Insurance Commission (SVS). The extract of
the incorporation authorization and approval of the bylaws
was registered in the Santiago Commerce Registry on page
13,099 No. 7,269 in 1981 and were published in the Official
Journal on July 23, 1981. The bylaws of Enel Américas S.A.
have undergone several modifications ever since.
On August 1, 1988, the Company was renamed "Enersis S.A."
I n A p r i l 2 0 15 , E n e r s i s S . A . b e g a n a c o r p o r a t e
reorganization process. As part of this process, on
December 18, 2015 at the Company’s Extraordinary
Shareholders´ Meeting shareholders. approved the
first stage of the reorganization process called “the
Spin-off”. Subsequently, the Company’s Spin-off was
approved, and the entity called “Enersis Chile S.A.” was
created, representing the unique vehicle for the control
of generation and distribution assets that the Group
owns in Chile. The former Enersis S.A. was renamed as
“Enersis Américas S.A.” to control the businesses in the
other countries of the region (Argentina, Peru, Brazil, and
Colombia). The Spin-off was formalized in a public deed
on January 8, 2016, issued by Iván Torrealba Acevedo,
Notary Public in Santiago, whose extract was registered on
pages 4013 No. 2441 of the Commerce Registry in 2016
of the Property Registrar in Santiago and was published in
the Official Journal on January 22, 2016. A supplementary
extract was registered on pages 10.743 No. 6.073 of the
same Registry in 2016 of the Property Registrar and was
published in the Official Journal on February 10, 2016.
The Extraordinary Shareholders´ Meetings of Enersis
Américas S.A. and its subsidiaries Endesa Américas S.A.
and Chilectra Américas S.A. were held on September 28,
2016 all of them approving, among other issues, the second
stage of the corporate reorganization plan denominated
“the Merger”. Therefore, Enersis Américas S.A., the
absorbing entity, acquired all the assets and liabilities of
Chilectra Américas S.A. and Endesa Américas S.A., the
subsidiaries, succeeding them in every right and obligation
and incorporating to Enersis Américas S.A. the entirety of
shareholders and equity of Chilectra Américas S.A. and
Endesa Américas S.A.
A Meeting held on December 1, 2016, agreed that, after
the Merger, Enersis Américas S.A would change its name to
“Enel Américas S.A.”. The Meeting was registered in a public
deed dated October 18, 2016, granted by Iván Torrealba
Acevedo, Notary Public, whose extract was registered on
pages 79,974 No. 43,179 of the 2016 Commerce Registry
of the Property Registrar in Santiago and was published in
the Official Journal on October 29, 2016.
The functional currency of the Company was changed from
pesos to US dollars at the Extraordinary Shareholders´ Meeting
held on April 27, 2017, thus modifying the fifth permanent article
and the first transitory article of the Company’s bylaws.
Finally, on December 18, 2020, the Company's shareholders
approved the Merger by incorporation of EGP Américas
SpA into Enel Américas and the subsequent capital
increase. Under the Merger, Enel Américas will acquire all
the assets and liabilities of EGP Américas and replace it in
all its rights and obligations, permitting the Company to
control and consolidate the ownership of the business and
unconventional renewable energy generation assets that
Enel Green Power SpA operates and owns in Central and
South America (except Chile). The aforementioned operation
materialized on April 1, 2021.
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Corporate Purpose
The Company’s corporate purpose is indicated in the
amendment approved by the Extraordinary Shareholders´
Meeting held on September 28, 2016, formalized in a public
deed on October 18, 2016, issued by Iván Torrealba Acevedo,
Notary Public in Santiago, whose extract was registered on
pages 79,974 No. 43,179, of the Commerce Registry of the
Property Registrar in Santiago in 2016 and was published in
the Official Journal on October 29, 2016.
The purpose of the Company shall be to carry out, both in the
country or abroad, the exploration, development, operation,
generation, distribution, transmission, transformation and/or
sale of energy in any of its forms or nature, directly or through
other companies, as well as activities in telecommunications
and the provision of engineering advice, in the country and
abroad. Its purpose will also be to invest and manage its
investment in subsidiary or associated companies, which are
generators, transmitters, distributors or marketers of electric
energy or whose turn corresponds to any of the following:
1) energy in any of its forms or nature,
2) the supply of public services or those whose main input is
energy,
3) telecommunications and information technology,
4) and intermediation businesses through the Internet.
In meeting its main purpose, the Company shall carry out the
following activities:
Promote, organize, constitute, modify, dissolve, or liquidate
companies of any nature, whose corporate purpose is related
to the purpose of the company.
Propose to its subsidiary companies the investment, financing,
and commercial policies, as well as the accounting systems
and criteria to which they must adhere.
Supervise the management of its subsidiary companies.
To provide its related, subsidiary, and affiliated companies
with the financial resources necessary to carry out their
businesses and, additionally, to provide their related companies,
subsidiaries and affiliated companies with management
services; financial, commercial, technical and legal advice;
audits and, in general, services of any kind necessary for their
best performance.
In addition to its main purpose and always acting within the
limits established by the Investment and Financing Policy
approved at the Shareholders' Meeting, the Company may
invest in:
The acquisition, operation, construction, leasing,
administration, intermediation, marketing and disposal of all
kinds of movable and immovable property, either directly or
through subsidiary or affiliated companies.
All kinds of financial assets, including shares, bonds and
debentures, trading effects and, in general, all kinds of
securities or transferable securities and contributions to
companies either directly or through subsidiaries or affiliates.
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Principal Milestones
Expansion of operations in the region
through inorganic growth
Basic Services
Company
largest in Latam
Inorganic growth through
M&A: consolidation in
Dx & Gx businesses
Strong financial
position
New
Growth phase
Generation business
Acquisition
Volta Grande
Distribution business
Acquisition
Enel Distribución Goiás
(ex Celg)
Distribution business
Enel Distribution Sao
Paulo (ex Eletropaulo)
Capital Increase
US$ 3.0 bn
Américas
2016
2017
2018
2019
2020-21
A fully integrated
vehicle, ready to
be a natural leader
in an energy
transition
scenario in Latin
America.
Company background
1981
On June 19, the Compañía Chilena de Electricidad S.A.
created a new corporate structure, which gave rise to a
parent Company and three subsidiaries. One of them was
Compañía Chilena Metropolitana de Distribución Eléctrica
S.A.
1985
Stemming from the Chilean government’s privatization
program, the company began the process of transferring
the share capital of Compañía Chilena Metropolitana de
Distribución Eléctrica S.A. to the private sector, a process
that ended on August 10, 1987. As part of the process,
pension fund management companies (AFPs as per Spanish
acronym), the company’s employees, institutional investors
and thousands of small shareholders joined the Company. Its
organizational structure was based on activities or operative
functions whose results were evaluated functionally and
their profitability was limited by a tariff structure because
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Integrated Annual Report Enel Américas 2021
of the Company’s exclusive dedication to the electricity
distribution business.
1987
The Company’s Board of Directors proposed to divide the
Company’s different activities. This way, the four subsidiaries
created as a result of the division were to operate as
business units with their own objectives, thus expanding
the Company’s activities towards other non-regulated
activities but linked to the core business. This division was
approved at the Extraordinary Shareholders’ Meeting held
on November 25, 1987, thus establishing the Company’s
new corporate purpose. As a result of the above, Compañía
Chilena Metropolitana de Distribución Eléctrica S.A. became
an investment company.
1988
On August 1, pursuant to the agreement of the Extraordinary
General Meeting of Shareholders of April 12, 1988, one of
the companies born from the division changed its corporate
name to Enersis S.A.
the city of Buenos Aires, Argentina.
2002
The Extraordinary General Shareholders’ Meeting held on
April 11, 2002, modified the Company’s corporate purpose
introducing telecommunications activities and investment
in and management of companies whose business was
telecommunications and information technology through
the Internet.
2015-2016
The Company underwent a corporate restructuring process
which started in April 2015 and was completed in December
2016. The process consisted of separating the electricity
generation and distribution activities carried out in Chile,
from those carried out in the rest of the countries. As such,
former Enersis S.A. was divided into the following companies:
a) Enel Américas S.A., the continuing Company of Enersis
with activities in Argentina, Brazil, Colombia and Peru, and b)
Enel Chile S.A. which owns the assets related to the activities
in Chile.
2020
The Extraordinary Shareholders' Meeting, held on December
18, 2020, approved the Merger by incorporation of the assets
of EGP Américas into Enel Américas in the countries of South
America (without Chile) and Central America (Argentina,
Brazil, Colombia, Peru, Panama, Costa Rica, and Guatemala).
The meeting had an attendance quorum of 96.67% and an
81% approval of all shares subscribed on that date.
On April 1, 2021, the Merger was completed.
At the end of the period Enel Américas S.A. is one of the
largest private power companies in Latin America in terms
of consolidated assets and operational revenues, which
has been achieved through stable and balanced growth
in its electrical businesses: generation, transmission, and
distribution.
Expansion and development
Enel Américas began its international expansion in 1992
through different privatization processes in Latin America,
thus developing a significant presence in the electricity
sectors in Argentina, Brazil, Colombia, and Peru.
1992
On May 15, Enel Américas, (Enersis at that time) acquired
a 60% shareholding and control of Central Costanera,
a generation company, currently Enel Generación
Costanera, located in Buenos Aires, Argentina. On July 30,
the Company was awarded 51% of Empresa Distribuidora
Sur S.A., Edesur, a company that distributes electricity in
1993
In July, the Company acquired Hidroeléctrica El Chocón,
(today Enel Generación) located in the Neuquén and Río
Negro provinces, Argentina.
1994
In July, Enel Américas acquired 60% shareholding of
Empresa de Distribución Eléctrica de Lima Norte S.A.,
Edelnor (currently Enel Distribución Perú) in Peru for US$176
million. The Company also acquired Edechancay, another
electricity distribution company in that country, which was
later absorbed by the former.
1995
On December 12, Enel Américas acquired an additional
39% shareholding of Edesur. The Company also acquired
the Peruvian generation Company Edegel (currently Enel
Generación Perú) in Peru.
1996
On December 20, Enel Américas entered the Brazilian market
with the acquisition of a large portion of shares of the former
Companhia de Eletricidade do Río de Janeiro S.A., Cerj, an
electricity distribution company in the cities of Río de Janeiro
and Niteroi, Brazil, whose business name was changed to
Ampla Energía e Serviços S.A. and currently is called Enel
Distribución Río. On December 20, the Company acquired
99.9% shareholding of Central Hidroeléctrica de Betania
S.A. E.S.P, in Colombia.
1997
On September 5, the Company acquired a 78.9%
shareholding of the Brazilian company Centrais Elétricas
Cachoeira Dourada (currently Enel Green Power Cachoeira
Dourada) for US$ 715 million. On September 15, Enel
Américas (at the time Enersis) successfully participated
in the capitalization of Codensa S.A. E.S.P., a company
that distributes electricity in the city of Bogotá and the
Cundinamarca department in Colombia acquiring a
48.5% shareholding for US$ 1,226 million. The Company
also acquired 5.5% of Empresa Eléctrica de Bogotá. On
September 15, investing US$ 951 million, the Company
acquired a 48.5% shareholding of Emgesa, a Colombian
generation Company, and an additional 5.5% of Empresa
Eléctrica de Bogotá S.A. Endesa, S.A. (Spain) acquired 32%
of Enersis (currently Enel Américas).
1998
On April 3, Enersis (currently Enel Américas) acquired 89%
and the control of Companhia Energética de Ceará S.A.,
Coelce (currently Enel Distribución Ceará) for US$868 million,
a company that distributes electricity in the northeast region
of the country, in the Ceará state.
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1999
Endesa, S.A. (Spain), took control of Enersis (today
Enel Américas). Through a Public Tender Offer, Endesa
acquired an additional 32% of Enersis, which, together
with the 32% already acquired in August 1997, totaled
64%. This transaction was completed on April 7, 1999
and involved a US$ 1,450 million investment. As a result
of the subsequent capital increase by Enersis in 2003, the
shareholding decreased to the current 60.62%. On May 11,
Enersis (currently Enel Américas) acquired 35% of Endesa
Chile (today Enel Generación Chile), in addition to the
already owned 25%, thus reaching 60% of the Company’s
shareholding. The Company, therefore, consolidated its
position as one of the main private electricity companies
in Latin America.
2000
The Company sold the subsidiaries Transelec, Esval, Aguas
Cordillera and real estate assets for US$ 1,400 million.
2001
The Company made important investments: US$364
million to increase its shareholding in Chilectra (today Enel
Distribución Chile), US$150 million for the acquisition of 10%
shareholding of Edesur in Argentina, a stake that was held
by the Company’s employees; US$ 132 million to increase
its shareholding in the Brazilian distribution Company Ampla
(today Enel Distribución Río); US$ 23 million to increase its
shareholding in Río Maipo, in Chile by 15%, and US$ 1.6
million to increase its shareholding in Distrilima, in Peru by
1.7%.
2002
The Company acquired Central Termoeléctrica Fortaleza
(Enel Generación Fortaleza) located in the Brazilian state of
Ceará. Additionally, the Company began the second phase of
the commercial operation of the electricity interconnection
between Argentina and Brazil, CIEN (today Enel Cien),
completing a 2,200 MW transmission capacity between
both countries.
2006
In February, Enersis acquired Termocartagena (142 MW),
a Colombian combined cycle power plant which operates
either with fuel oil or gas for approximately US$17 million.
2007
On October 11, Enel S.p.A. took control of Enersis, through
Endesa, S.A.
2009
On October 15, Enersis S.A. (currently Enel Américas)
acquired 153, 255,366 shares, representing 24%
shareholding of its Peruvian subsidiary Enel Generación
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Integrated Annual Report Enel Américas 2021
Perú (formerly Edegel), at PEN 2.72 per share. This was
purchased from Generalima S.A.C., a Peruvian subsidiary
of Enel Latinoamérica S.A., the parent company of Enersis.
With this transaction, the direct and indirect shareholding
of Enersis S.A. in Edelnor rose from 33.53% to 57.53%.
2010
Enersis (currently Enel Américas) sold CAM and Synapsis for
US$ 20 million and US$ 52 million, respectively.
2012
The Extraordinary Shareholders' Meeting held on December
20, approved with 81.94% of the Company's total voting
shares a capital increase of up to Ch$2,844,397,889,381.
The controlling shareholders would subscribe this capital
increase with a contribution in kind, corresponding to the
entire share capital of Cono Sur, a company that will bring
together the shares that would be contributed by Endesa
(Endesa España) to Enersis (now Enel Américas), valued at
Ch$1,724,400,000.034.
2013
Capital increase: With a record result for this type of
operation in the local market, shareholders of Enersis (today
Enel Américas) subscribed a total of US$ 6,022 million,
placing 100% of the shares available for the capital increase.
2014
Through a Public Offer for the Acquisition of Shares (OPA
in Spanish acronym) 3,002,812 common shares, 8,818,006
type A preferential shares and 424 type B preferential shares
of Colece (today Enel Ceará) were purchased equivalent
to an investment of approximately US$243 million. With
the completion of this transaction the Company reached a
74.05% direct and indirect stake. In April, Enersis (currently
Enel Américas) signed an agreement to purchase all the
shares that Inkia Américas Holdings Limited indirectly held
in Generandes Perú S.A., equivalent to a 39.01% stake, with
an investment of US$ 413 million. The transaction ended in
September and, as a result, Enersis (currently Enel Américas)
achieved a 58.60% shareholding of Edegel (today Enel
Generación Perú). On July 31, Enel Energy Europe S.R.L.,
currently Enel Iberoamérica SRL, controller of Endesa S.A.
(92.06% shareholding) proposed the acquisition of 100% of
Endesa Latinoamérica S.A.’s share capital. The transaction
was completed in October 2014 and, as a result, Enel S.A.
directly controls Enersis (today Enel Américas) with a 60.62%
stake in the company.
2015
O n De c e m b e r 18, t h e C o m pa ny ’s E x t ra o rd i na r y
S ha re h o l d e rs’ M e et i n g a p p rove d t h e c o r p o ra te
restructuring of Enersis and its subsidiaries Endesa Chile
and Chilectra (currently Enel Américas). This operation
consisted of dividing the generation and distribution
activities in Chile from those carried out in the rest of
the countries in Latin America both for Enersis and for its
subsidiaries Endesa Chile and Chilectra.
2016
On March 1, the non-material Division of the former Enersis,
Endesa and Chilectra was carried out as a result of which
Enel Chile and Enel Américas were formed.
On November 30, the Company announced the acquisition
of CELG-D (now Enel Distribución Goiás) for BRL2,187 million.
2017
On October 4, Enel Perú (wholly owned by Enel Américas
S.A.) acquired 47,686,651 shares issued by the subsidiary
Enel Distribución Perú. The transaction closed at the price
of PEN262,276,580 (equivalent to approximately US$ 80
million) and was carried out on the Lima Stock Exchange.
On September 27, Enel Brasil was awarded a concession
to operate the 380 MW Volta Grande power plant. The
total investment was BRL1,420 million (US$ 445 million
approximately). The concession is for 30 years.
2018
On June 4, Enel Américas successfully completed the
best offer for the acquisition of Eletropaulo (currently Enel
Distribución São Paulo), the main distribution company in
São Paulo, Brazil acquiring 73.4% of the shares. The following
month, all shareholders of Eletropaulo Metropolitana
Eletricidade de São Paulo SA were permitted to sell their
additional shares, at the same price offered and, on July
4, the transaction was completed with the acquisition of
93.3% of the shareholding of Enel Distribución São Paulo.
Subsequently, in September, Enel Américas completed a
capital increase leading to the final shareholding of 95.88%.
2019
On April 30, the Extraordinary Shareholders' Meeting
approved a US$ 3 billion capital increase. The aim of the
capital increase was to provide Enel Brasil with funds to pay
the debt incurred to acquire Enel Distribución São Paulo
and to restructure Enel Brasil's pension fund liabilities.
On September 2, the capital increase was successfully
concluded with a subscription of approximately 99.49%
of the shares and a gross amount of US$ 3.021 billion. On
November 21, Enel Brasil acquired 1.48% of Enel São Paulo
's shares for BRL49.39 reais per share, becoming the owner
of 95.9% of the shares. On the November 27, the Enel São
Paulo Shareholders' Meeting approved the redemption of all
shares issued in circulation, equivalent to 2.58%, at a price
of 49.46 reais per share.
2020
On September 21, the Company reported in a Significant
Event the proposal by the Company's Board of Directors
to launch a merger by incorporating the assets of EGP
Américas in South America (without Chile) and Central
America into Enel Américas: Argentina, Brazil, Colombia,
Peru, Panama, Costa Rica, and Guatemala. On December
18, an Extraordinary Shareholders' Meeting approved the
proposed merger announced on September 21, with the
consenting vote of approximately 81% of the total shares
subscribed. The Shareholders' Meeting also approved the
Other Corporate Regulatory Information 255
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes On March 4, 2021, the National Superintendency of
Customs and Tax Administration (Sunat) of Peru issued the
certificate corresponding to the merger of Enel Américas
and EGP Américas. This way, the merger was completed
on April 1, 2021, the day on which Enel Américas acquired,
through the merger, all EGP Américas assets and liabilities,
including the non-conventional renewable energy generation
business and assets that it owned in Central and South
America (except Chile), and succeeded it in all its rights and
obligations, Enel Américas incorporated all the EGP Américas
shareholders and assets and the company was dissolved
by law, without the need for liquidation. Consequently, the
following companies were incorporated as new subsidiaries
of Enel Américas: Green Power Brasil Participacoes Ltda.,
Enel Green Power Costa Rica S.A., Enel Green Power
Colombia S.A.S ESP, Enel Green Power Guatemala S.A.,
Enel Green Power Panamá S.R.L., Enel Green Power Perú
S.A.C., Enel Green Power Argentina S.A., Energía y Servicios
South América SpA and ESSA2 SpA. On the same date, all
the amendments to Enel Américas’ bylaws approved at the
meeting, came into force. They consisted of the respective
capital increase and the elimination of the limitations and
restrictions established in the bylaws by application of Title
XII of Decree Law No. 3,500 of 1980, particularly the one
indicating that a shareholder and his related persons may not
concentrate more than 65% of the capital in Enel Américas
with the right to vote.
The share price of the dissenting shareholders who exercised
their right to withdraw from Enel Américas as a result of the
approval of the merger was paid on March 8, 2021, with their
corresponding readjustments and interests.
In relation to the voluntary public offer of Enel SpA, for the
acquisition of up to 7,608,631,104 shares issued by Enel
Américas S.A. equivalent to 10% of its current share capital,
as anticipated by Significant Event issued on December
17, 2020, and which was conditioned to the effectiveness
of the merger by incorporation of EGP Américas SpA into
Enel Américas S.A., said offer was initiated on March 15 and
concluded on April 13, 2021. A total of 20,194,895,308 shares
(including 1,872,063,500 shares represented by 37,441,270
ADS) were validly tendered pursuant to the offer, leading
to a prorated factor of approximately 37.7%. Following the
completion of the merger of Enel Américas S.A. with EGP
Américas SpA, Enel SpA held 75.18% of Enel Américas’ share
capital and now, following the purchase of the shares and
ADS through the offer, it owns approximately 82.3% of the
share capital.
Emgesa S.A. and Codensa S.A.
As controlling shareholder of the Colombian subsidiaries
Emgesa S.A. ESP and Codensa S.A. ESP, Enel Américas
signed a framework investment agreement with Grupo
amendment to the bylaws in relation to the maximum limit
of 65% shareholding to be held by any of the Company’s
shareholders. On April 1, 2021, the aforementioned Merger
was completed.
Regarding the merger by incorporation of EGP Américas
SpA into Enel Américas
The legal deadline available to the dissident shareholders of
Enel Américas to exercise their right to withdraw stemming
from the merger by incorporation of EGP Américas SpA
into Enel Américas S.A. expired on January 17, 2021.
During the aforementioned period, dissident shareholders
representing a total of 1,787,514 shares, equivalent to
0.002% of the total, exercised their right to withdraw.
Consequently, one of the copulative conditions precedent
which the effectiveness of the merger was subject to was
met, namely that the right to withdrawal of the dissenting
shareholders of Enel Américas did not exceed 10% of the
issued shares with voting rights.
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Integrated Annual Report Enel Américas 2021
Energía de Bogotá SA ESP. This agreement seeks to govern
the relations as shareholders between both companies.
On June 29, 2021, the Company reported that the
Colombian subsidiaries of Enel Américas, Emgesa S.A.
ESP and Codensa S.A. ESP, as part of the new framework
investment agreement that Enel Américas signed with
Grupo Energía Bogotá SA ESP (GEB), its partner in these
subsidiaries, convened their respective Boards of Directors.
The sessions resolved to convene the general shareholders'
meetings to discuss, among other issues, the approval of
a quadruple merger by absorption, through which Emgesa
S.A. ESP would acquire the company, while Codensa S.A.
ESP, Enel Green Power Colombia S.A.S. and ESSA2 SpA, all
subsidiaries of Enel Américas, would be absorbed.
Such merger would be conditioned on the compliance with
the following conditions and legal and prior contractual
requirements: (i) the approval of the merger by the general
shareholders’ meetings of the companies involved, pursuant
to their respective bylaws and the applicable laws of the
respective jurisdictions; (ii) the approval by the holders of
the ordinary bonds issued by Emgesa and Codensa under
the conditions required by Colombian regulations and in
the respective issuance and placement prospectuses;
and (iii) the authorization granted by the Superintendency
of Companies of Colombia. The financial effects of such
a merger would be quantifiable once the corresponding
shareholders' meetings of the intervening companies
approve an exchange equation and the terms of the
respective merger agreement.
On June 29, 2021, the Boards of Directors of Enel Américas'
Colombian subsidiaries, Emgesa S.A. ESP, Codensa S.A. ESP
and Enel Green Power Colombia S.A.S., agreed to convene
their respective general shareholders' meetings for July
27, 2021, in order to submit the merger commitment
between the companies Emgesa S.A. ESP (absorbing),
Codensa S.A. ESP, Enel Green Power Colombia S.A.S. ESP
and ESSA2 SpA (absorbed) for consideration. Pursuant to
the established merger commitment, the company resulting
from the reorganization process would have the following
shareholding: i) Enel Américas S.A. will have 57.345%; (ii)
Grupo Energía Bogotá S.A. ESP 42.515% and iii) other
minority shareholders with 0.140%.
On July 27, 2021, the general shareholders’ meetings of
Enel Américas’ subsidiaries, Emgesa S.A. ESP, Codensa S.A.
ESP, Enel Green Power Colombia S.A.S. and ESSA2 SpA,
approved, among other issues, the merger commitment
between Emgesa S.A. ESP (absorbing company), Codensa
S.A. ESP, Enel Green Power Colombia S.A.S. ESP and ESSA2
SpA (absorbed companies). As a result of the terms of trade
and the agreements between Enel Américas S.A. and Grupo
Energía Bogotá S.A. ESP (GEB), the resulting shareholding of
the absorbing company would be as follows: i) Enel Américas
S.A. with a 57.345% stake; (ii) Grupo Energía Bogotá S.A.
ESP with 42.515% and iii) other minority shareholders,
0.140%. The merger must subsequently be approved by
the bondholders’ meetings of Emgesa S.A. ESP and Codensa
S.A. ESP, and then undergo a prior authorization procedure
by the Superintendency of Companies of Colombia.
Finally complied with all legal regulations and protocolization
of documents before the authorities Colombian companies,
the merger materialized in accordance with the conditions
previously described dated March 1 of 2022.
Enel Rinnovabili S.r.l
EGP Américas SpA acquired all the assets and liabilities
of Enel Rinnovabili S.r.l, including the non-conventional
renewable energy generation business and assets that Enel
Green Power SpA operates and owns in Central and South
America (except Chile). It also obtained all the permissions
and authorizations granted, as required, by certain financial
banks in Brazil.
Brazilian subsidiary Eletropaulo Metropolitana Eletricidade
de São Paulo S.A.
On August 26, 2021, the Company reported that Eletropaulo
Metropolitana Eletricidade de São Paulo S.A. published a
Significant Event, in which it indicated that its Board of
Directors approved to withdraw the sponsorship of the
Plano de Suplementação de Aposentadorias e Pensão –
PSAP/Eletropaulo, a pension fund for employees and former
employees currently managed by Fundação Cesp. The
financial effects of this action are not quantifiable as of the
date of publication of the Significant Event.
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January 21, 2021
Significant event
The legal deadline available to Enel Américas dissident
shareholders to exercise the right to withdraw stemming
from the merger by incorporation of EGP Américas SpA into
Enel Américas S.A. expired on January 17, 2021. During the
aforementioned period, dissident shareholders representing
a total of 1,787,514 shares, equivalent to 0.002% of the total,
exercised their right to withdraw.
Consequently, one of the copulative conditions precedent
which the completion of the merger was subject to was
met, namely that the right to withdrawal of the dissenting
shareholders of Enel Américas did not exceed 10% of the
issued shares with voting rights.
January 29, 2021
Significant event
Enel Américas, as the controlling shareholder of the
Colombian subsidiaries Emgesa S.A. ESP and Codensa
S.A. ESP, signed a new framework investment agreement
with Grupo Energía de Bogotá SA ESP, its partner in these
subsidiaries. It seeks to govern in the future the relations as
shareholders between both companies. The new framework
agreement would allow to integrate the renewable business
into their joint investments, establish new corporate
governance rules more in line with the new objectives
and opportunities of this new stage and the parties would
propose conciliation agreements for the existing arbitration
claims between them. The financial effects of such an
agreement are not quantifiable at the date of publication
of the respective Essential Fact.
February 1, 2021
Significant event
The Company informed that on the above date the merger
of the Italian company Enel Rinnovabili S.r.l into the Chilean
EGP Américas SpA was completed. The legal teams of both
companies have granted the same and unique declaratory
public deed through which they verified full compliance
with the formalities, requirements, and procedures
applicable under Chilean and Italian law to complete the
aforementioned international merger.
EGP Américas SpA acquired all the assets and liabilities
of Enel Rinnovabili S.r.l, including the non-conventional
renewable energy generation business and assets that Enel
Green Power SpA operates and owns in Central and South
America (except Chile). Similarly, all the permissions and
authorizations that certain financial banks in Brazil had to
258
Integrated Annual Report Enel Américas 2021
grant were obtained.
March 5, 2021
Significant Event
Regarding the merger by incorporation of EGP Américas
SpA into Enel Américas, on March 4, 2021, the National
Superintendence of Customs and Tax Administration (Sunat)
of Peru issued the certificate corresponding to the merger,
the last pending condition precedent. As a consequence of
the foregoing, Enel Américas and EGP Américas granted
the same and unique declaratory public deed, by virtue of
which they recorded compliance with each and every one
of the conditions precedent which the completion of the
merger was subject to.
This way, the merger became effective on April 1, 2021, the
day on which Enel Américas acquired through the merger,
all the assets and liabilities of EGP Américas, including the
non-conventional renewable energy generation business
and assets that it operates and owns in Central and South
America (except Chile), and succeeded it in all its rights and
obligations, Enel Américas incorporating all the shareholders
and assets of EGP Américas, which would be dissolved by
law, without the need for liquidation.
On the same date, all the amendments to Enel Américas’
bylaws approved at the meeting, came into force. They
consisted of the respective capital increase and the
elimination of the limitations and restrictions established in
the bylaws through the application of Title XII of Decree Law
No. 3,500 of 1980, particularly the one that indicates that a
shareholder and his related persons may not concentrate
more than 65% of the capital with the right to vote in Enel
Américas.
The share price of the dissenting shareholders who exercised
their right to withdraw from Enel Américas as a result of the
approval of the merger was paid on March 8, 2021, with their
corresponding readjustments and interest.
March 15, 2021
Significant Event
The Company sent a copy of the communication disclosed
by Enel SpA to the regulator (Spanish acronym CMF), where
it formally announced the beginning of the voluntary public
offer for the acquisition of up to 7,608,631,104 shares issued
by Enel Américas S.A. equivalent to 10% of its current share
capital, as anticipated in the Significant Event issued on
December 17, 2020. The offer was conditioned to the
completion of the merger by incorporation of EGP Américas
SpA into Enel Américas S.A., to take place on April 1, 2021.
The offer began on March 15 and concluded on April 13,
2021. In the United States of America, it expired at 5:00
p.m., New York time, while in Chile it ended at 5:30 p.m.,
Santiago de Chile time.
March 19, 2021
Significant Event
In relation to the public offer for the acquisition of shares
that Enel SpA initiated for up to 7,608,631,104 shares issued
by Enel Américas S.A. equivalent to 10% of its current share
capital, the Company reported that it had received the
individual reports of the Company’s directors, Mr. Francisco
de Borja Acha Besga (Chairman), Enrico Viale, Hernán
Somerville Senn, José Antonio Vargas Lleras, Patricio Gómez
Sabaini and Domingo Cruzat Amunátegui.
April 16, 2021
Significant Event
Attached is a communication sent by Enel SpA,, the parent
company, reporting the final results of the voluntary public
offer for the acquisition of Enel Américas’ shares and
American Depositary Shares for up to a maximum of 10%
of its share capital at the time of the launch. As indicated,
a total of 20,194,895,308 shares (including 1,872,063,500
shares represented by 37,441,270 ADS) were validly offered
pursuant to the offer, resulting in a prorated factor of
approximately 37.7%. Following the completion of the merger
of Enel Américas S.A. with EGP Américas SpA, Enel SpA held
75.18% of Enel Américas’ share capital and now, following
the purchase of the shares and ADS through the offer, it
owns approximately 82.3% of the share capital.
March 26, 2021
Significant Event
April 29, 2021
Significant Event
In relation to the public offer for the acquisition of shares
that Enel SpA initiated for up to 7,608,631,104 shares
issued by Enel Américas S.A., the Company reported that
the Company's Board of Directors presented this collective
statement in the document called Schedule 14D-9, which
has been registered with the Securities and Exchange
Commission (SEC).
April 1, 2021
Significant Event
The Company reported that the merger would be completed
on April 1, 2021, and, therefore, Enel Américas would acquire
all the assets and liabilities of EGP Américas, including the
non-conventional renewable energy generation business
and assets that it operates and owns in Central and South
America (except Chile), and it would succeed it in all its
rights and obligations, incorporating all the shareholders
and assets of EGP Américas. Consequently, it incorporated
the following companies as Enel Américas’ new subsidiaries:
Enel Green Power Brasil Participacoes Ltda., Enel Green
Power Costa Rica S.A., Enel Green Power Colombia S.A.S
ESP, Enel Green Power Guatemala S.A., Enel Green Power
Panamá S.R.L., Enel Green Power Perú S.A.C., Enel Green
Power Argentina S.A., Energía y Servicios South América
SpA y ESSA2 SpA.
On the same date, all the amendments to Enel Américas’ bylaws
approved at the meeting, came into force. They consisted of
the respective capital increase and the elimination of the
limitations and restrictions established in the bylaws through
the application of Title XII of Decree Law No. 3,500 of 1980,
particularly the one that indicates that a shareholder and his
related persons may not concentrate more than 65% of the
capital with the right to vote in Enel Américas.
The Company reported that at the Ordinary Shareholders'
Meeting of Enel Américas S.A., a new Board of Directors
was elected for a period of three years, made up of Messrs.
Francisco de Borja Acha Besga, José Antonio Vargas Lleras,
Giulia Genuardi, Francesca Gostinelli, Hernán Somerville
Senn (independent director proposed by the controller),
Patricio Gómez Sabaini (independent director proposed
by the controller) and Domingo Cruzat Amunátegui
(independent director proposed by the controller).
At the ordinary meeting of Enel Américas S.A.’s Board
of Directors held after the aforementioned meeting, Mr.
Francisco de Borja Acha Besga was elected as Chairman
of the Board of Directors and Mr. Domingo Valdés Prieto as
Secretary of the Board. The Director’s Committee was also
appointed, composed of the following directors: Mr. Hernán
Somerville Senn, Patricio Gómez Sabaini and Domingo
Cruzat Amunátegui. Pursuant to the provisions of Circular
Letter No. 1,956 of the Financial Market Commission, the
Company reported that all members of the aforementioned
Committee are independent directors. The Company’s
Board of Directors appointed Mr. Hernán Somerville Senn as
financial expert of the Directors’ Committee. The Company’s
Board of Directors also nominated Mr. Hernán Somerville
Senn as chairman president of entity and Mr. Domingo
Valdés Prieto as secretary.
April 29, 2021
Significant Event
The Ordinary Shareholders' Meeting of Enel Américas
S.A. agreed to distribute a mandatory minimum dividend
and an additional dividend, which together totaled
US$412,598,667, equivalent to US$0.00384600197490528
per share. Given that the aforementioned provisional
Other Corporate Regulatory Information 259
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dividend has already been paid, the remainder of the final
dividend No. 103 totaling US$339,606,949, equivalent to
US$0.00316561613260267 per share, would be distributed
and paid. The expected payment date was May 28, 2021.
Shareholders registered in the Company's Shareholders'
Register on 22 May 2021 would receive said dividends.
June 22, 2021
Significant Event
The Company reported that the Colombian subsidiaries of
Enel Américas, Emgesa S.A. ESP and Codensa S.A. ESP, as
part of the new framework investment agreement that Enel
Américas signed with Grupo Energía Bogotá SA ESP (GEB),
its partner in these subsidiaries, convened their respective
Boards of Directors. The corresponding sessions resolved
to convene the general shareholders' meetings to discuss,
among other issues, the approval of a quadruple merger by
absorption, through which Emgesa S.A. ESP would acquire
the company, while Codensa S.A. ESP, Enel Green Power
Colombia S.A.S. and ESSA2 SpA, all subsidiaries of Enel
Américas, would be absorbed.
Such merger would be conditioned to the compliance with
the following conditions and legal and prior contractual
requirements: (i) the approval of the merger by the general
shareholders’ meetings of the companies involved pursuant
to their respective bylaws and the applicable laws of the
respective jurisdictions; (ii) the approval by the holders of
the ordinary bonds issued by Emgesa and Codensa under
the conditions required by Colombian regulations and in
the respective issuance and placement prospectuses; and
(iii) the authorization of the Superintendency of Companies
of Colombia.
The financial effects of such a merger would be quantifiable
once the corresponding shareholders' meetings of the
intervening companies approved an exchange equation
and the terms of the respective merger agreement.
June 29, 2021
Significant Event
The Boards of Directors of Enel Américas' Colombian
subsidiaries, Emgesa S.A. ESP, Codensa S.A. ESP and
Enel Green Power Colombia S.A.S., agreed to convene
their respective general shareholders' meetings for July
27, 2021, in order to submit the merger commitment
between the companies Emgesa S.A. ESP (absorbing),
Codensa S.A. ESP, Enel Green Power Colombia S.A.S. ESP
and ESSA2 SpA (absorbed) for consideration. Pursuant to
the established merger commitment, the company resulting
from the reorganization process would have the following
shareholding: i) Enel Américas S.A. will have 57.345%;
(ii) Grupo Energía Bogotá S.A. ESP 42.515% and iii) other
minority shareholders with 0.140%.
Once all the relevant legal norms were met and the
documents protocolized by Colombian authorities, the
mergers was completed on March 1, 2022, according to
the conditions described earlier on.
July 8, 2021
Significant event
As part of the agreements reached with Grupo Energía
Bogotá S.A. ESP, on July 8, 2021 the arbitration tribunal of
Grupo Energía Bogotá against Enel Américas held a hearing ,
in which the arbitrators accepted the conciliation agreement
presented by the parties, thus ending the differences
between Grupo Energía Bogotá and the Company that were
the subject of this litigation.
July 27, 2021
Significant Event
The general shareholders' meetings of Enel América’
subsidiaries, Emgesa S.A. ESP, Codensa S.A. ESP, Enel
Green Power Colombia S.A.S. and ESSA2 SpA, approved,
among other issues, the merger commitment between
the companies Emgesa S.A. ESP (absorbing company),
Codensa S.A. ESP, Enel Green Power Colombia S.A.S. ESP
and ESSA2 SpA (absorbed companies). As a result of the
terms of trade and the agreements between Enel Américas
S.A. and Grupo Energía Bogotá S.A. ESP (GEB), the resulting
shareholding composition of the absorbing company would
be as follows: i) Enel Américas S.A. with a 57.345% stake; ii)
Grupo Energía Bogotá S.A. ESP with 42.515% and iii) Other
minority shareholders, 0.140%. The merger was conditioned
on the subsequent approval of the bondholders’ meetings of
Emgesa S.A. ESP and Codensa S.A. ESP, and then submitted
to a prior authorization procedure by the Superintendency
of Companies of Colombia.
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Integrated Annual Report Enel Américas 2021
August 26, 2021
Significant Event
On August 26, 2021, the Brazilian subsidiary Eletropaulo
Metropolitana Eletricidade de São Paulo S.A. (Enel
Distribuição São Paulo) published a Significant Event, in
which it indicated that its Board of Directors approved to
withdraw the sponsorship of the Plano de Suplementação
de Aposentadorias e Pensão – PSAP/Eletropaulo, a pension
fund for employees and former employees currently
managed by Fundação Cesp.
November 26, 2021
Significant Event
E n e l A m é r i ca s S . A . ’s B oa rd of D i re cto rs a g re e d
to d i s t r i b u te a p rov i s i o n a l d i v i d e n d N o. 10 4 of
US$0.00086986528797556 per share. This amount
corresponds to 15% of the Company's net profits as of
September 30, 2021, based on the Company's financial
statements on that date. The aforementioned dividend
will be paid in Chilean pesos, legal tender, according to
the observed dollar exchange rate published in the Official
Gazette on January 24, 2022. The provisional dividend will
be paid as of January 28, 2022, to shareholders registered in
the Shareholders' Register at midnight on the fifth business
day prior to the indicated date.
November 26, 2021
Significant Event
The Company's Board of Directors approved Enel Américas’
2022-24 Strategic Plan. The macro elements of the
aforementioned Strategic Plan foresee for the 2022-2024
triennium an accumulated EBITDA of between US$ 14.5 and
15.8 billion and an accumulated CAPEX of approximately
US$ 8.9 billion. Given the high volatility and variations in
the exchange rates of the markets where the Company
maintains investments and given that the contents of the
aforementioned Strategic Plan obey and are based on
projections of hypotheses that may or may not be verified
in the future, its effects are not determinable as of this date.
March 1, 2022
Significant Event
The Company reported as a Significant Event that, as
of yesterday, the Superintendency of Companies of the
Republic of Colombia authorized the statutory reform
consisting of the merger by absorption of the subsidiaries
of Enel Américas, Emgesa S.A. ESP (absorbing company)
Codensa S.A. ESP, Enel Green Power Colombia S.A.S. ESP
and ESSA2 SpA (Absorbed Companies). At the same time,
on March 1, 2022, the respective public deed was granted by
Notary 11 of Bogotá, through which the merger commitment,
its annexes and other necessary documents were formalized,
thus completing the merger by absorption between the
companies Emgesa S.A. ESP (absorbing), Codensa S.A. ESP,
Enel Green Power Colombia S.A.S. ESP and ESSA2 SpA
(absorbed). Also today, the public deed was registered with
the Chamber of Commerce of Bogotá, through which the
aforementioned merger by absorption was finalized.
The new corporate name of the merged companies is Enel
Colombia S.A. ESP.
As anticipated in previous communications, the resulting
shareholding composition of the Colombian subsidiary Enel
Colombia S.A. ESP is as follows: (i) Enel Américas S.A. with
a 57.345% stake; ii) Grupo Energía Bogotá S.A. ESP with a
42.515% stake and iii) Other minority shareholders with a
0.140% stake
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Information on shares
Market information
In 2021, the Chilean stock market recovered slightly when
compared to 2020, closing the S&P/CLX IPSA with a 3.1%
rise. This performance is mainly explained by the low
comparison base of the previous year, which was strongly
affected by the health crisis caused by Covid-19, which
affected a large part of the global and local markets and
was also due to the rise in commodity prices in the global
markets. The US Dow Jones Industrial Average had a positive
return of 18.7% and London's FTSE 100 rose by 14.3%.
In the case of the main stock markets in the countries in which
Enel Américas operates, the returns were varied: Argentina
(Merval; +63.0%), Brazil (Bovespa; -11.9%), Colombia (Colcap;
-1.9%) and Peru (SPBLPGPT; +1.4%). This is partly due to the
multiple Covid-19 impacts on Latin American economies, with
strong effects on inflation and interest rates.
Santiago Stock Exchange
The evolution of Enel Américas shares during the last two years in relation to the Selective Stock Price Index (S&P/CLX IPSA)
in the local market:
Santiago Stock Exchange
Variación
Enel Américas
S&P/CLX IPSA
2021
-19.80%
3.10%
2020
-30.50%
-10.50%
New York Stock Exchange (NYSE)
The performance of Enel Américas ADs listed on the NYSE (ENIA) in relation to the Dow Jones Industrial and Dow Jones Utilities
indices during the last two years:
Santiago Stock Exchange
Variation
ENIA
Dow Jones Industrial
Dow Jones Utilities
2021
-33.80%
18.70%
13.40%
2020
-25.10%
7.20%
-1.70%
262
Integrated Annual Report Enel Américas 2021
Stock Exchange transactions
Below are the quarterly transactions for the last three years, carried out on the exchanges where Enel Américas shares are
traded. In Chile, trading is done through the Santiago Stock Exchange and the Chilean Electronic Exchange, while in the United
States it is on the New York Stock Exchange (NYSE).
Santiago Stock Exchange
In 2021, 26,351 million shares were traded on the Santiago Stock Exchange, equivalent to Ch$3,060,928 million. The closing
price of the stock as of December was Ch$93.00.
Stock market transactions (Santiago Stock Exchange))
Periods
1st quarter 2019
2nd quarter 2019
3rd quarter 2019
4th quarter 2019
Total 2019
1st quarter 2020
2nd quarter 2020
3rd quarter 2020
4th quarter 2020
Total 2020
1st quarter 2021
2nd quarter 2021
3rd quarter 2021
4th quarter 2021
Total 2021
Units
Amounts (CH$)
Average Price
4,825,385,785
5,267,937,965
6,199,801,001
612,155,765,545
605,331,164,210
741,799,163,682
7,005,472,367
1,035,076,977,567
23,298,597,118
2,994,363,071,004
6,483,030,618
903,507,075,433
14,268,399,863
1,833,377,784,158
7,265,357,511
834,916,385,115
5,365,328,887
596,767,343,968
33,382,116,879
4,168,568,588,674
5,338,469,815
619,464,959,900
14,135,894,665
1,742,630,126,521
2,108,676,714
4,767,772,799
220,979,170,132
477,853,951,640
26,350,813,993
3,060,928,208,193
126.65
114.48
119.68
149.3
127.53
144.31
128.05
115.39
111.27
124.75
115.42
106.55
104.44
99.8
106.55
Electronic Stock Exchange in Chile
A total of 698 million shares were traded on the Chilean Electronic Exchange during the period, equivalent to Ch$73,803
million. The closing price of the share as of December was Ch$106.35.
Stock market transactions (Electronic Stock Exchange Chile)
Periods
1st quarter 20219
2nd quarter 2019
3rd quarter 2019
4th quarter 2019
Total 2019
1st quarter 2020
2nd quarter 2020
3rd quarter 2020
4th quarter 2020
Total 2020
1st quarter 2021
2nd quarter 2021
3rd quarter 2021
4th quarter 2021
Total 2021
Units
Amounts (CH$)
Average price
96,739,255
112,668,680
321,016,940
187,247,739
717,672,614
144,597,209
12,233,577,575
13,216,085,533
37,641,372,132
27,761,301,991
90,852,337,231
20,075,715,893
1,237,699,863
162,895,157,521
673,706,089
361,507,323
78,587,318,409
39,782,570,462
2,417,510,484
301,340,762,285
173,486,877
132,818,875
154,071,165
237,996,952
19,973,875,844
14,018,936,966
16,115,639,890
23,694,170,707
698,373,869
73,802,623,407
128.50
114.92
119.55
149.58
128.14
141.98
126.84
114.18
111.31
123.58
115.7
105.86
104.33
99.48
106.35
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New York Stock Exchange (NYSE)
Enel Américas shares began trading on the New York Stock Exchange (NYSE) on October 20, 1993. At that time, the name of
the Company was Enersis and the mnemonic was ENI. An American Depositary Share (ADS) of Enel Américas represents 50
shares and the current mnemonic is ENIA. Citibank N.A. acts as depositary bank and Banco Santander Chile as custodian in
Chile. In 2021, 384 million ADS were traded in the United States, which was equivalent to US$2,783 million. The price of ADS
closed in December at US$5.44.
Stock market transactions
New York Stock Exchange (NYSE)
Periods
1st quarter 2019
2nd quarter 2019
3rd quarter 2019
4th quarter 2019
Total 2019
1st quarter 2020
2nd quarter 2020
3rd quarter 2020
4th quarter 2020
Total 2020
1st quarter 2021
2nd quarter 2021
3rd quarter 2021
4th quarter 2021
Total 2021
Dividends
Dividend policy
Units
Amounts (US$)
Average price
93,356,577
50,723,996
84,411,906
94,253,155
322,745,634
105,532,984
130,171,049
104,948,137
66,780,890
888,587,040
428,879,782
716,122,405
928,306,385
2,961,895,612
906,951,037
1,003,015,883
763,353,164
484,871,129
407,433,060
3,158,191,213
86,244,461
157,645,476
57,690,201
82,513,530
696,170,423
1,207,791,256
386,220,890
493,173,775
384,093,668
2,783,356,343
9.67
8.42
8.43
9.92
9.11
9.03
7.75
7.3
7.3
7.84
7.95
7.36
6.7
5.94
6.99
Pursuant to General Rule No. 283. Number 5), the Company's
dividend policies for the years 2022 and 2021 are set out
below.
General
In a session held on February 25, 2022, the Company's Board
of Directors approved the following Dividend Policy and the
corresponding procedure for the payment of Enel Américas
S.A.’s dividends for the year 2022.
Dividend Policy for the financial year 2022
The Board of Directors intends to distribute a provisional
dividend, charged to the accumulated profits until September
30, 2022, of up to 30% of the profits as shown in the Enel
Américas S.A. financial statements on that date, to be paid
in January 2023.
Additionally, the Board of Directors intends to propose to
the Ordinary Shareholders' Meeting, to be held during the
first quarter of 2022, to distribute an amount equivalent
to 50% of the profits for 2021as a final dividend. The final
dividend will correspond to the one defined by the Ordinary
Shareholders' Meeting, to be carried out in the first quarter
of 2022. Compliance with the aforementioned program will
be conditioned, in terms of dividends, on the profits obtained
by the Company, seeking to maintain the Company’s financial
balance.
Procedure for the payment of Dividends of Enel Américas
S.A.
For the payment of dividends, whether provisional or final, and
in order to avoid their incorrect collection, Enel Américas S.A.
contemplates the following modalities:
264
Integrated Annual Report Enel Américas 2021
1. Deposit in a current account, the holder of which is the
shareholder.
2. Deposit in savings account, the holder of which is the
shareholder.
3. A nominative check or voucher sent by registered mail to
the address of the shareholder listed in the Shareholders'
Register of Enel Américas S.A. and
4. Collecting a cheque or a voucher sent to the offices of
DCV Registros S.A., as administrator of Enel Américas S.A
shareholders register or the bank and its branches established
for this purpose and informed in the published notification
related to the payment of dividends. For these purposes, a
current or a savings account can be located in any place in
the country. The payment method chosen by each shareholder
will be used by DCV Registros S.A. for all dividend payments, as
long as the shareholder does not express in writing his or her
intention to modify it and register a new option.
Shareholders who have not registered a payment method will
be paid according to modality No. 4 above. When checks or
vouchers are returned by mail to DCV Registros S.A., they will
remain in custody until they are withdrawn or requested by
the shareholders. In the case of deposits in current accounts,
Enel Américas S.A. and/or DCV Registros S.A. may request,
for security reasons, their verification by the corresponding
banks. If the accounts indicated by the shareholders are
objected, either in a previous verification process or for
any other reason, the dividend will be paid according to the
modality indicated in point No. 4 above. At the same time, the
Company has adopted and will continue to adopt in the future
all the necessary security measures required by the dividend
payment process, in order to safeguard the interests of both
shareholders and Enel Américas S.A.
Dividend Policy for 2021
In a session held on February 25, 2021 the Company's
Board of Directors approved the following Dividend Policy
and the corresponding procedure on the payment of
dividends of Enel Américas S.A., for 2021. Additionally,
the Board of Directors intends to propose to the Ordinary
Shareholders' Meeting, to be held during the first quarter
of 2022, to distribute an amount equivalent to 50% of
the profits for 2021 as a final dividend. The final dividend
will correspond to the one defined by the Ordinary
Shareholders' Meeting, to be carried out in the first
quarter of 2022. Compliance with the aforementioned
program will be conditioned, in terms of dividends, on
the profits obtained by the company, seeking to maintain
the Company’s financial balance.
Notwithstanding the foregoing, on February 25, 2022, the
Company’s Board of Directors agreed to propose to the
Ordinary Shareholders' Meeting to be held in April 2022,
to reduce the percentage of dividend distribution from
50% to 30% of the Company's profits as of December
31, 2021, discounting the provisional dividend already
delivered; the above, to balance the financial investment
requirements for new projects, with the Company’s cash
flow generation, to maintain the Company’s financial
capacity and slightly reducing the debt requirements for
the next few years. If the Ordinary Shareholders’ Meeting
approves to reduce the distribution of profits to 30%,
the distributable profit for the whole year would reach
ThUS$222,258.
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Paid dividends
Distributable Profit for 2021
The distributable profit for the year 2021 is indicated below:
Dividends paid
Distributable profit 2021
Profit for the year*
Distributable profit**
US$ Thousand
740,859
370,430
*Attributable to the parent company
**If the Board’s proposal to the shareholders' meeting is approved, as previously explained in the dividend policy, this amount would be reduced to
US$ 222,258 thousand
Distributed dividends
The following chart shows the dividends per share paid over the past few years:
No. divi-dend
Type of dividend
98
99
100
101
102
103
104
Provisional
Final
Provisional
Final
Provisional
Final
Provisional
Registration
closing date
01-19-19
05-11-19
01-18-20
05-23-20
01-23-21
05-22-21
01-22-22
Payment date
Dollars per share
For year
01-25-19
05-17-19
01-24-20
05-29-20
01-29-21
05-28-21
01-28-22
0.00134
0.00703
0.00162
0.00899
0.00096
0.00317
0.00087
2018
2018
2019
2019
2020
2020
2021
Risk rating
In 1994, Standard and Poor's and Duff & Phelps first ranked Enersis (now Enel Américas) as BBB+, (investment grade).
Subsequently, in 1996 Moody's placed the Company's long-term foreign currency debt at Baa1.
Since that time, most risk classifications have varied. Currently, all are "investment grade" and are based on the diversified
portfolio of assets, liquidity, and appropriate debt service coverage policies.
International rating
Corporate
S&P (1)
BBB- (Stable)
Moody’s (2)
Baa2 (Stable)
Fitch Ratings (3)
A- (Stable)
(1): https://www.standardandpoors.com/en_US/web/guest/home
(2): https://www.moodys.com
(3): https://www.fitchratings.com
National rating
Shares
Bonds
(1): https://www.feller-rate.com/corporativo
(2): https://www.fitchratings.com/
Feller Rate (1)
1st class, Level 2
AA / Stable
Fitch Ratings (2)
1st class, Level 1
AA+(cl) / Stable
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Integrated Annual Report Enel Américas 2021
The main events that took place in 2021 are summarized
below:
• April 5: Feller Rate raised Enel Américas' corporate
ranking to AA and changed to Stable Creditwatch in
Development on the national scale, in response to the
merger by absorption of EGP Américas, which gives Enel
Américas a strengthened business profile and higher
growth prospects.
• July 5: Feller Rate ratified the AA corporate rating and
maintained the Stable outlook.
• May 20: Standard and Poor's downgraded the rating to
BBB- from BBB and revised the outlook to Negative Stable.
This change is explained by the drop in the sovereign
rating and the macroeconomic situation in Colombia,
the country where the Company has operations.
• July 1: Moody's upgraded Baa3's corporate rating to
Baa2, revising the outlook to Stable, as a result of the
expectations for operational improvements and cash flow
generation from the merger with EGP Américas, along with
the Company's strong credit benchmarks.
• August 5: Fitch Ratings ratified the A- and Stable Outlook
based on a robust track record of meeting targets,
diversified geographic presence in South and Central
America, and a conservative leverage profile.
•
Information on other securities
Obligations to the public, secured and unsecured, and their maturity can be found in Notes 19.b and 19.c to the Consolidated
Financial Statements of Enel Américas S.A. and Subsidiaries as of December 31, 2021. Moreover, the details of the financial
constraints that each of these securities issued by the Company and its subsidiaries must meet can be found in point 34.4
of said Consolidated Financial Statements.
Risk Factors
Material Risks Related to Our Business
Our businesses depend heavily on hydrology and are
affected by droughts, flooding, storms, ocean currents,
and other chronic changes in weather conditions as a
result of climate change.
The fight against climate change is a major global
challenge that exposes our businesses to a variety of
medium- and long-term risks. Our generation business
could be negatively affected by arid hydrological
conditions, which could negatively affect our ability
to dispatch energy from our hydroelectric generation
facilities. Regional hydrological conditions have often
been subject to two weather phenomena dealing with
ocean currents - El Niño and La Niña - that influence
rainfall and may result in drought or flooding, depending
on the region affected. In the past, El Niño has affected
hydrologic conditions in Colombia, where 86% of our
installed capacity is hydroelectric, leading to rainfall
deficits, high temperatures, and higher energy prices
in some years, and unusually intensive rains, flooding,
and landslides that negatively impacted our hydroelectric
power plants in other years. Each ocean current event
is unique and, depending on its intensity and duration,
the magnitude of the social and economic effects could
be material.
Our distribution business is also affected by inclement
weather, mainly in Argentina. With extreme temperatures,
demand can increase significantly within a short period,
affecting service and resulting in service outages that
may result in fines. Depending on weather conditions,
results obtained by our distribution businesses can vary
from year to year.
Our operating expenses increase during drought
periods when thermal power plants, which have higher
operating costs relative to hydroelectric power plants,
are dispatched more frequently. Depending on our
commercial obligations, we may need to buy electricity
at higher spot prices to comply with our contractual
supply obligations. Beyond increasing operating costs,
the cost of these electricity purchases may exceed
our contracted electricity sale prices, thus potentially
producing losses from those contracts.
Droughts also indirectly affect the operation of our
thermal power plants, including our facilities that use
natural gas, fuel oil, or coal.
Our thermal power plants require water for cooling, and
droughts may reduce water availability and increase
transportation costs. As a result, we may have to
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purchase water from agricultural areas that are also
experiencing water shortages. These water purchases
may increase our operating costs and require us to
negotiate further with the local communities. If such
negotiations were unsuccessful, we may be unable to
operate our power plants.
A full recovery from the droughts affecting the regions
where most of our hydroelectric power plants are
located may require an extended period, and new
drought periods may recur in the future. Climate change
may increase the likelihood of prolonged droughts
exacerbating the risks described above, which would
have a further negative effect on our business, results
of operations, and financial condition.
We are subject to physical, operational, and financial
risks related to climate change effects.
The electricity generated by our solar and wind
generation facilities is highly dependent on climate
factors other than hydrology, including suitable solar
and wind conditions, which, even under normal operating
circumstances, can vary greatly. Climate change may
also have long-term effects on wind patterns and the
amount of solar energy received at a particular solar
facility, reducing electricity generated by these facilities.
Although we base our business decisions on solar and
wind studies for each renewable energy facility, actual
conditions may not conform to the findings of these
studies. They may be affected by changes in weather
patterns, including the potential impact of climate
change.
I f o u r re n ewa b l e e n e rg y p ro du ct i o n fa l l s b e l ow
anticipated levels, we may have to dispatch our backup
thermal power plants to make up the electricity
generation shortfall. Our thermal power plants have
higher operating costs and generate greenhouse gas
(GHG) emissions. We may also need to buy electricity in
the spot market to fulfill our solar and wind generation
facilities’ contractual supply obligations, which may be
at prices higher than the contracted electricity sales. In
2021, spot prices reached historic highs. These impacts
could increase our costs or result in losses and have
a material adverse effect on our business, results of
operations, and financial condition.
We depend on distributions from our subsidiaries to
meet our payment obligations.
We rely on cash from dividends, loans, interest payments,
capital reductions, and other distributions from our
subsidiaries to pay our obligations. Such payments and
distributions may be subject to legal constraints, such as
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Integrated Annual Report Enel Américas 2021
dividend restrictions, fiduciary obligations, contractual
limitations, and foreign exchange controls imposed by
local authorities.
Historically, we have not always accessed some of our
operating subsidiaries’ cash flows due to government
regulations, strategic considerations, economic
conditions, and credit restrictions. In the future, we may
not always be able to immediately rely on cash flows from
operating subsidiaries to repay our debt.
Dividend Limits and Other Legal Restrictions
Some of our subsidiaries are subject to legal reserve
requirements and other restrictions on dividend
payments. Other legal restrictions, such as foreign
currency controls, may limit the ability of our subsidiaries
to pay dividends and make loan payments or other
distributions to us. Their directors’ fiduciary duties to
their minority shareholders may restrict the ability of
any of our subsidiaries that are not wholly owned to
distribute cash to us. Furthermore, local authorities
may force some of our subsidiaries, under applicable
regulation, to reduce or eliminate dividend payments.
These restrictions could impede our subsidiaries from
distributing cash to us under certain circumstances.
Contractual Constraints
Distribution restrictions included in our subsidiaries’
credit agreements, including most of our subsidiaries
in Brazil, may prevent dividends and other distributions
to shareholders if they do not comply with specified
financial ratios. Our credit agreements typically prohibit
any distributions in the event of ongoing default.
Operating Results of Our Subsidiaries
Our subsidiaries’ ability to pay dividends or make loan
payments or other distributions to us is limited by
their operating results. To the extent that any of our
subsidiaries’ cash requirements exceed their available
cash, they will not be able to make funds available to us.
Insufficient cash flows from our subsidiaries may result
in their inability to meet debt obligations and the need to
seek waivers to comply with some debt covenants. To a
limited extent, these subsidiaries may require guarantees
or other emergency measures from us as shareholders,
especially those located in Brazil and Argentina.
The currency of any dividend paid by our subsidiaries
is subject to depreciation in relation to our functional
currency, which may adversely affect our ability to pay
dividends to shareholders. The situations described
above could adversely affect our business, results of
operations, and financial condition.
Construction and operation of power plants may
encounter significant delays, stoppages, cost overruns,
and stakeholder opposition that may damage our
reputation and impair our goodwill with stakeholders.
Our power plant projects may be delayed in obtaining
regulatory approvals or may face shor tages and
increases in the price of equipment, materials, or labor.
They may be subject to construction delays, strikes,
accidents, and human error. Any such event could
negatively affect our business, results of operations,
and financial condition.
Market conditions may change significantly between
the approval and completion of a project, which, in
some cases, may decrease its profitability or render it
impracticable. Deviations in market conditions, such
as estimates of timing and expenditures, may lead to
cost overruns and delays in project completion that
widely exceed our initial forecasts. In turn, this may
have a material adverse effect on our business, results
of operations, and financial condition.
We may d eve l o p n ew p ro j e ct s i n l o ca t i o n s w i t h
challenging geographical topography, such as mountain
slopes, high altitudes, jungles, or other areas with limited
access. Additionally, given some projects’ locations,
there may be additional inherent risks to archaeological
heritage sites. These factors may also lead to significant
delays and cost overruns.
The operation of our power plants, especially those
that are coal-fired, may also affect our goodwill with
stakeholders due to GHG emissions that could adversely
affect the environment and local residents. In addition,
communities might have their own interests and different
perceptions of the company, being influenced by other
stakeholders or motivations unrelated to the project.
Therefore, if the company fails to engage with its relevant
stakeholders, we may face opposition, which could
negatively affect our reputation, impact operations, or
lead to litigation threats or actions.
Our reputation is the foundation of our relationship with
key stakeholders and other constituencies. Any damage
to our reputation may exert considerable pressure on
regulators, creditors, and other stakeholders, possibly
leading to the abandonment of projects and operations,
which could cause our share prices to drop and hinder
our ability to attract and retain valuable employees.
Any of these outcomes could result in an impairment
of our goodwill with stakeholders. If we do not effectively
manage these sensitive issues, they could adversely
affect our business, results of operations, and financial
condition.
Our long-term electricity sales contracts are subject
to fluctuations in the market prices of cer tain
commodities, energy, and other factors.
We have exposure to fluctuations in certain commodity
market prices that affect our long-term electricity sales
contracts. These contracts commit our generation
subsidiaries to material obligations as selling parties
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and contain prices indexed to different commodities,
exchange rates, inflation, and the market price of
electricity. Unfavorable changes to these indices would
reduce the rates we can charge under these contracts,
which could adversely affect our business, results of
operations, and financial condition.
We are subject to incremental risks in distribution
markets that are becoming more liberalized.
In some countries, our distribution customers who meet
the minimum and maximum demand requirements may
freely choose unregulated tariffs. This flexibility may
adversely affect our operating income. In some cases,
customers may choose an alternative energy provider,
which could adversely affect our business, results of
operations, and financial condition.
If third-party electricity transmission facilities, gas
pipeline infrastructure, or fuel supply contracts fail to
provide us with adequate service, we may be unable to
deliver the electricity we sell to our final customers.
We depend on transmission facilities owned and
operated by other companies to deliver the electricity
we sell. This dependence exposes us to several risks.
If the transmission is disrupted, or its capacity is
inadequate, we may be unable to sell and deliver our
electricity, particularly electricity generated by our
solar and wind plants, which requires more flexibility.
If a region’s power transmission infrastructure is
inadequate, our recovery of sales costs and profits
may be insufficient. If restrictive transmission price
regulations are imposed, transmission companies
that we rely on may not have sufficient incentives to
invest in expanding their infrastructure, which could
unfavorably affect our results of operations and financial
condition or affect our ability to deploy our portfolio
of projects under development. The construction of
new transmission lines may take longer than in the
past, mainly because of sustainability, social, and
environmental requirements that create uncertainties
regarding project completion timing. As a result, in
some of the countries in which we operate, renewable
energy generation projects are being completed faster
than new transmission projects, creating a backlog of
electricity that is difficult to transmit through current
transmission systems. In Argentina, for example, the lack
of investment in transmission lines will reduce incentives
for the development of renewable energy projects.
We also rely on pipelines to obtain natural gas, mainly in
Peru, where more than 50% of our generation capacity
is thermal. In recent years, the Peruvian system has
occasionally faced gas and electricity shortages due
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Integrated Annual Report Enel Américas 2021
to a lack of sufficient capacity in the pipeline and
transmission lines, which led to higher spot prices.
Depending on the facility type, our thermal generation
power plants purchase gas, coal, diesel, and other fuels
to produce electricity. Any supply contract breach
or supply shortage may prevent our facilities from
producing electricity on time.
We may be unable to reach satisfactory collective
bargaining agreements with our unionized employees
or retain key employees in labor conflict cases.
Our business relies on attracting and retaining many
highly specialized employees, and a large percentage
of our employees are members of unions with whom
we have collective bargaining agreements that must be
renewed regularly. Our business, results of operations,
and financial condition could be unfavorably affected
by a failure to reach a collective bargaining agreement
with any labor union or by a deal with a labor union
that contains terms we view as unfavorable. Laws in
many of the countries in which we operate provide
legal mechanisms for judicial authorities to impose a
collective bargaining agreement if the parties cannot
agree. Specific actions such as strikes, walkouts, or work
stoppages by these employees could negatively impact
our business, results of operations, financial condition,
and reputation.
We may be unable to enter into suitable acquisitions
or successfully integrate businesses that we acquire.
On an ongoing basis, we carry out mergers and review
acquisition prospects to expand our operations, which
may increase our market coverage or provide synergies
with our existing businesses. However, there can be no
assurance that we will be able to identify and acquire
suitable companies in the future. The acquisition and
integration of independent companies that we do
not control may be a complicated, costly, and time-
consuming process that may strain our resources and
relationships with our employees and customers.
These mergers and acquisitions may not ultimately be
successful or achieve the expected benefits and may
encounter delays or difficulties in connection with the
integration of their operations, due to a number of
factors, including but not limited to; inconsistencies
in standards, controls, procedures and policies,
business cultures, and compensation structures;
difficulties in integrating various business-specific
operating procedures and systems, as well as our
financial, accounting, information, and other systems;
complications in retaining key employees, customers,
and suppliers; unexpected transaction costs or failures
in the assessed value or a proper projection of the
potential benefits and synergies; and diversion of our
management’s attention from their other responsibilities.
Any of these risks encountered in the integration process
could have a material adverse effect on our revenues,
expenses, results of operations, and financial condition.
Interruption in or failure of our information technology,
control, and communications systems or cyberattacks
to or cybersecurity breaches of these systems could
have a material adverse effect on our business, results
of operations, and financial condition.
We operate in an industry that requires the continued
operation of sophisticated information technology,
control, and communications systems (“IT Systems”)
and network infrastructure. We use our IT Systems and
network infrastructure to create, collect, use, disclose,
store, dispose of, and otherwise process sensitive
information, including company and customer data and
personal information regarding customers, employees
and their dependents, contractors, shareholders, and
other individuals. IT Systems are critical to controlling
and monitoring our power plants’ operations, maintaining
generation and network performance, monitoring smart
grids, managing billing processes and customer service
platforms, achieving operating efficiencies, and meeting
our service targets and standards in our generation
and distribution businesses. The operation of our
generation system is dependent not only on the physical
interconnection of our facilities with the electricity
network infrastructure but also on communications
among the various parties connected to the network.
The reliance on IT Systems to manage information and
communication among those parties has increased
significantly since the implementation of smart meters
and intelligent.
Our generation and distribution facilities, IT Systems,
and other infrastructure and the information processed
in our IT Systems could be affected by cybersecurity
incidents, including those caused by human error.
Cybersecurity incidents have evolved dramatically in
recent years, and the number of incidents and their
degree of impact have grown exponentially, making it
increasingly difficult to identify their source in a timely
manner. Our industry has begun to see an increase in
volume and sophistication of cybersecurity incidents
from international activist organizations, nation-
states, and individuals, and are among the emerging
risks identified in our planning process. Cybersecurity
incidents could harm our business by limiting our
generation and distribution capabilities, delaying our
development and construction of new facilities or capital
improvement projects to existing facilities, disrupting
our customer operations, or exposing us to various
events that could increase our liability exposure. Our
generation and distribution business systems are part
of an interconnected system. Given the role of electricity
as a vital resource in modern society, a widespread
or prolonged disruption caused by the impact of a
cybersecurity incident in the electric transmission grid,
network infrastructure, fuel sources, or our third-party
service providers’ operations could have broad socio-
economic ramifications across households, businesses,
and vital institutions, which could unfavorably affect our
business.
Our businesses require the collection and storage of
personally identifiable information of our customers,
employees, and shareholders, who expect that we will
adequately protect the privacy of such information.
Cybersecurity breaches may expose us to a risk of loss
or misuse of confidential and proprietary information.
Significant theft, loss, or fraudulent use of information,
or other unauthorized disclosure of personal or sensitive
data, may lead to high costs to notify and protect the
impacted persons. It could cause us to become subject
to significant litigation, losses, liability, fines, or penalties,
any of which could materially and adversely affect our
results of operations and reputation. We may also be
required to incur significant costs associated with
governmental actions in response to such intrusions
or strengthen our information and electronic control
systems.
The cybersecurity threat is dynamic, evolving, and
increasing in sophistication, magnitude, and frequency.
We may be unable to implement adequate preventive
measures or accurately assess the likelihood of a
cybersecurity incident. We are unable to quantify the
potential impact of cybersecurity incidents on our
business and reputation. These potential cybersecurity
incidents and corresponding regulatory action could
result in a material decrease in revenues and high
additional costs, such as penalties, third-party claims,
repairs, increased insurance expense, litigation,
notification and remediation, security, and compliance
costs.
Material Risks Related to Regulatory Matters
Governmental regulations may unfavorably affect our
businesses, cause delays, impede the development of
new projects, or increase the costs of operations and
capital expenditures.
Our electricity businesses are subject to extensive
regulation, inspections, and audits. The tariffs we charge
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defined by regulators, which may negatively affect our
profitability. Our business is also exposed to the decision
of governmental authorities regarding material rationing
policies during droughts or prolonged failures of power
facilities, or regulatory changes that may unfavorably
affect our future operations and profitability.
Electricity regulations issued by governmental authorities
in the countries where we operate may affect our
generation companies’ ability to collect revenues
sufficient to offset their operating costs, which could
adversely affect our business, results of operations,
and financial condition. Governmental authorities may
also delay the distribution tariff review process, or tariff
adjustments determined by regulatory authorities may
be insufficient to pass on our costs to customers.
O u r o p e ra t i n g s u b s i d i a r i e s a re a l s o s u b j e c t to
environmental regulations that, among other things,
require us to perform environmental impact studies on
future projects and obtain construction and operating
permits from local and national regulators. Governmental
authorities may withhold or delay the approval of these
permits until the completion of environmental impact
studies, sometimes unexpectedly. Environmental
regulations for existing and future generation capacity
have become stricter and require increased capital
investments. Any delay in meeting the required emission
standards may constitute a violation of the environmental
regulations. Failure to certify the original implementation
and ongoing emission standard requirements of
monitoring systems may result in significant penalties
and sanctions or legal claims for damages. We expect
that more restrictive emission limits will be established
in the future.
Proposed changes in the regulatory framework are often
submitted to legislators and administrative authorities.
Some of these changes, if implemented, could have
a material adverse effect on our business, results of
operations, and financial condition.
Our business and profitability could be unfavorably
affected if water rights are denied, if water concessions
are granted with a limited duration, or if the cost of
water rights is increased.
Each country’s respective water authority grants us
water rights for water supply from rivers, lakes, and
reservoirs near our generation facilities based on
specific criteria. The terms differ from country to
country, ranging from 25 years to an indefinite period.
In Argentina, hydroelectric generators with a generation
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capacity exceeding 500 kW must obtain a concession
to use public water sources for a determined or
indefinite term. In Brazil, hydroelectric plants with an
installed capacity of more than 50 MW must obtain a
water rights concession for up to 35 years. In Costa
Rica, all hydroelectric plants require a concession from
the governmental authority for up to 25 years. The
concession can be revoked if the plant is not operating
within five years, extendable once for up to one year. In
Guatemala, concessions are required for all hydroelectric
plants with an installed capacity greater than 5 MW and
may be granted for up to 50 years. In Colombia, water
rights and water concessions are awarded for different
periods for each of our power plants, in some cases
for up to 50 years. However, these concessions may be
revoked for specific reasons, including a progressive
water decrease or depletion, and water for human
consumption has priority over any other use. In Panama,
all hydroelectric generators must obtain a concession,
which may be granted for up to 50 years, and renewed
for an additional 50 years. In Peru, the concessions are
granted for indefinite periods but could be revoked due
to scarcity or a decline in service quality.
Governmental authorities may revoke water rights
granted to us for various reasons, including but not
limited to failure to initiate operations within a specified
period, progressive water decrease or depletion, non-
compliance with environmental standards, and a decline
in service quality, among others.
Any revocation of or limitations on our current water
rights, additional water rights, or the duration of our
water concessions could have a material adverse
effect on our hydroelectric development projects and
profitability.
We are subject to potential business and financial risks
resulting from climate change legislation and regulation
to limit GHG emissions.
Climate change legislation and regulation restricting or
regulating GHG emissions could increase our operating
costs and have a material adverse effect on our business,
results of operations, and financial condition. The
adoption and implementation of any international treaty,
legislation, or regulation imposing new or additional
reporting obligations or limiting emissions of GHGs from
our operations could require us to incur additional costs
to comply with such requirements and possibly require
the reduction or limitation of GHG emissions associated
with our operations. These higher compliance standards,
such as net zero emissions, may require higher levels of
investment in new, more efficient technologies. Failure
to monitor or delay the adoption of new technologies
may jeopardize our ability to adapt to climate change
and may involve additional costs to operate and maintain
our equipment and facilities, install emission controls,
or pay taxes and fees relating to GHG emissions, which
could have a material adverse effect on our business,
results of operations, and financial condition.
Material Risks Related to Latin America and Other
Global Risks
Certain Latin American countries have been historically
characterized by frequent and occasionally drastic
economic interventionist measures by governmental
authorities, including expropriations that may adversely
affect our business and financial results.
Governmental authorities have altered monetary, credit,
tariff, tax, and other policies to influence Latin American
countries, including the countries in which we operate.
Even though we do not have electricity operations in
Chile, our company is established under the laws of
the Republic of Chile. It is also subject to changes in
Chilean tax, labor, and monetary laws, among others.
Other governmental actions in the countries in which we
operate have also implemented wage, price, and tariff
rate controls and other interventionist measures, such
as expropriation or nationalization.
If we do not meet minimum service and technical
standards in the distribution business, we may lose our
concessions. In some concession areas, such as those
in Buenos Aires, Goiás, and Rio de Janeiro, it may be
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not met, empower regulators to revoke our concessions
and reassign them to our competitors. If this situation
occurs, it could lead to an event of default or a material
adverse event under some of our subsidiaries’ debt
obligations, which could trigger an acceleration of
payment, cross-default, bankruptcy, or insolvency
proceedings.
Although proposed tax reforms and amendments
to the tax laws in Colombia did not materialize due
to widespread protests throughout the country, on
January 1 , 2022, the corporate income tax rate in
Colombia increased from 30% to 35%. In 2021, Argentina
eliminated its fixed corporate tax regime and installed a
progressive system with a maximum corporate tax rate
of 35%. The Brazilian Congress is currently legislating
a tax reform bill that could decrease corporate income
tax rates, create a new withholding tax on cross-border
dividends, and reduce or eliminate other tax benefits.
Changes in governmental and monetary policies
regarding tariffs, exchange controls, regulations,
and taxation could reduce our profitability. Inflation,
devaluation, social instability, and other political,
e c o n o m i c, d i p l o m a t i c d eve l o p m e nt s o r c r i s e s,
including governments’ response in the region to these
circumstances, could also reduce our profitability.
Economic fluctuations, political instability, and
corruption scandals in Latin America and other regions
in the world may affect our results of operations,
financial condition, liquidity, and the value of our
securities.
All our operations are in Latin America. Accordingly,
our consolidated revenues may be affected by regional
economic performance in Latin America and around the
world. If local, regional, or worldwide economic trends
adversely affect the economy of any of the countries in
which we operate, it is likely that consumer demand for
electricity will decrease and that some of our customers
may have difficulties paying their electric bills, possibly
increasing our uncollectible accounts, which could
adversely affect our results of operations and financial
condition. The challenges arising from changes in
economic conditions, regulatory policies, laws governing
foreign trade, manufacturing, development and
investments, and various crises around the world, either
individually or in the aggregate, could severely affect
the economies in the countries in which we operate
and our business, results of operations, and financial
condition. For example, since 2018, the U.S. and China
have been involved in a trade war involving protectionist
measures that increase volatility in financial markets
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worldwide due to the uncertainty of political decisions.
Also, instability in the Middle East or any other major
oil-producing region could result in higher fuel prices
worldwide, which would increase the operating costs for
our thermal generation power plants and unfavorably
affect our results of operations and financial condition.
An international financial crisis and its disruptive effects
on the financial industry could negatively affect our
ability to obtain new bank financings under the same
historical terms and conditions that we have benefited
from to date.
We operate in more volatile countries that at times
have experienced political instability due to, among
other things, corruption scandals involving several
high-ranking government officials. Political events or
financial and other crises could also diminish our ability
to access local and international capital markets as
sources of liquidity or increase interest rates available to
us. Reduced liquidity could negatively affect our capital
expenditures, long-term investments and acquisitions,
growth prospects, and dividend payout policy.
Although we do not have operations in Chile, our
management and headquarters are in Santiago, Chile,
and our common stock is traded on the Chilean Stock
Exchanges. Widespread protests and social unrest
erupted throughout Chile in October 2019. As a result,
the Chilean government has introduced several social
reforms and in a November 2020 referendum, Chilean
citizens strongly supported convening a constitutional
convention to draft a new Chilean constitution. Any new
constitution could alter the Chilean political situation,
affect the Chilean economy, its business outlook,
change existing rights, including rights to exploit
natural resources, and water and property rights, any
of which could adversely affect our business, results
of operations, and financial condition. If a new Chilean
constitution is not approved, the existing constitution,
which has been in place since 1980, would remain in
effect. There can be no assurance that the constitutional
convention will agree on a draft of a new constitution
or that the Chilean citizens will approve any draft
constitution approved by the constitutional convention.
We cannot give any assurance that these reforms and
proposals or the constitutional reform process will
resolve the social and economic concerns or that mass
protests or civil unrest will not resume. The long-term
effects of this social unrest are hard to predict but could
include slower economic growth, which could adversely
affect our business, results of operations, and financial
condition. Demonstrations and civil unrest in Chile and
the countries in which we operate may continue or
worsen, which could negatively impact these countries’
economies and adversely affect our business, results
of operations, financial condition, and value of our
securities.
In addition, in December 2021, Chile elected Gabriel
Boric as the new president. President Boric took office
on March 11, 2022, and his agenda is mainly focused on
the elimination of private pension funds, social security
programs, increases in the minimum wage and pensions,
and increases in corporate taxes. President Boric is also
a strong supporter of the constitutional reforms being
considered by the constitutional convention drafting
a new Chilean constitution. While it is still very early in
President Boric’s term, and there is uncertainty regarding
how his reforms may affect the political and business
climate in Chile in the future, these reforms could lead
to higher-than-expected inflation levels, unemployment,
and higher corporate taxes in Chile, any of which could
negatively affect our business, results of operations, and
financial condition. In June 2021, Pedro Castillo, a far-
left candidate, was elected president of Peru. President
Castillo’s government has advocated for increasing taxes
and taking measures to prohibit imports and nationalize
strategic sectors of the economy, such as the energy
sector. Congressional elections in Argentina in November
2021 also contributed to the political uncertainty in that
country as far-left and far-right candidates both gained
seats, resulting in President Alberto Fernández losing his
majority support in Argentine Congress.
Future adverse developments in these countries,
including political events, financial or other crises,
changes to policies regarding foreign exchange controls,
regulations, and taxation, may impair our ability to
execute our business plan and could adversely affect
our growth, results of operations, and financial condition.
Inflation, devaluation, social instability, and other political,
economic, or diplomatic developments could also reduce
our profitability. Economic and market conditions in
financial and capital markets of the countries in which we
operate may be affected by international events, which
could unfavorably affect the value of our securities.
A further deterioration of Argentina’s economic
situation or further devaluation of the Argentine peso
could have an adverse effect on our operations and
profitability.
Since July 2018, Argentina has been considered a
hyperinflationary economy according to IFRS accounting
standards. A general price index was used to present
the amounts related to our Argentine subsidiaries in
our consolidated financial statements retrospectively
to reflect the changes in the purchasing power of the
Argentine peso under the provisions outlined in IAS 29,
“Financial Reporting in Hyper-Inflationary Economies.”
Non-monetary assets and liabilities were restated as
of February 2003, the latest date in which an inflation
adjustment for accounting purposes was applied in
our Argentine subsidiaries. Our consolidated financial
statements have not been restated to reflect the gain
from the indexation of our Argentine subsidiaries’ non-
monetary assets and liabilities before January 1, 2018.
Such monetary gain up to that date was recognized as
an adjustment to our retained earnings as of January
1 , 2018. Please see Note 2 .9 of the Notes to our
consolidated financial statements.
The Argentine peso experienced one of the steepest
devaluations against the U.S. dollar in 2019, 2020, and
2021, amounting to an annual depreciation of 37.1%,
28.8%, and 18.1%, respectively. Further deterioration
of Argentina’s economy, a continued devaluation of
the Argentine peso against the U.S. dollar driven by
hyperinflation, or the initial freezing and subsequent
lowering of electricity distribution tariffs could adversely
affect our results of operations and financial condition.
We are subject to the adverse effects of worldwide
pandemics.
In response to the Covid-19 pandemic that began
in December 2019 and was declared by the World
Health Organization as a public health emergency of
international concern, governments in all the countries
where we operate declared states of emergency,
instituted nighttime curfews, mandatory quarantines
in affected areas, control of entrance, exit, and
traffic within specified zones, the prohibition of mass
gatherings, and the closing of public schools, among
other measures. The private sector in the countries in
which we operate has voluntarily taken further actions,
such as adopting telecommuting wherever possible and
closing commercial offices.
Governments of the countries in which we operate took
the following measures, among others, to preserve
access to essential services and preserve business
continuity:
• In March 2020, Argentina enacted a rule prohibiting
companies providing essential services, such as
electricity distribution companies, from cutting service
due to customer non-payment for 180 days for low-
income residential customers, small businesses, and
companies providing other essential services, such as
health facilities. In May 2020, the Argentine regulator
issued a resolution allowing users who have reduced
their demand 50% or more to suspend their payments
or to make payments in 30 monthly installments.
In March 2021, the Argentine regulator enacted a
Other Corporate Regulatory Information 275
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes resolution prohibiting distribution companies from
suspending services to customers for unpaid debts
accrued through February 28, 2021.
GDP in 2021. As restrictions loosened, the demand for
electricity increased, which positively impacted our net
income in 2021.
• Brazil enacted a prohibition on the suspension of
electricity supply due to customer non-payment for
all residential customers and companies and facilities
providing essential services. This measure was in
effect from March to July 2020. In March 2020, ANEEL
issued a regulation to grant loans to the distribution
companies, commonly known as the “CONTA-COVID,”
aiming to ease financial distress and avoid tariff
adjustments. For further information with respect to
the CONTA-COVID, please refer to Note 8 of the Notes
to our consolidated financial statements.
• Colombia allowed low-income level 1 and 2 residential
customers (representing approximately 44% of the
customer base) to defer payment of monthly electricity
bills for 36 months and level 3 and 4 residential
customers (representing approximately 40% of the
customer base) to defer payment of monthly electricity
bills for 24 months, in each case without penalty or
risk of a suspension in service.
• Peru allowed 4.8 million vulnerable residential
customers to pay bills issued between March and June
30, 2020, in up to 24 monthly installments, without
interest, charges, or fees due to late payment. The
Peruvian government also established a subsidy
payable to distribution companies to cover customers’
unpaid bills for monthly energy consumption of up to
125 kW from March to December 2020.
All of these measures, as well as other government
restrictions, temporarily disrupted our business and
operations, decreased the demand for electricity,
destabilized financial markets, negatively affected
the global supply chain, and compromised our ability
to generate income. As a result, each country where
we operate experienced negative growth in GDP in
2020, and these disruptions significantly impacted our
2020 performance. For example, during the year ended
December 31, 2020, sales from energy distribution
decreased 4.5%, net production fell 3.1%, and sales from
energy generation decreased 7.7%. Our collection rates
fell 4.7% in Peru, 2.0% in Colombia, 1.9% in Argentina, and
1.5% in Brazil as compared to the same period of 2019.
We estimate that the impact on our net income caused
by the Covid-19 pandemic stemmed from lower energy
demand and increased uncollectible debts. However,
governments loosened restrictions in 2021, and each
country where we operate experienced a rebound in
economic activity that resulted in positive growth in
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Integrated Annual Report Enel Américas 2021
The recent emergence of new Covid-19 variants and
increases in infection rates may result in a reimposition
of governmental and private sector measures in
response. If there is a resurgence of the Covid-19
pandemic or similar outbreaks in the future, our
business, results of operations, and financial condition
may be materially adversely affected.
Foreign exchange risks may unfavorably affect our
results and the U.S. dollar value of dividends payable
to ADS holders.
Even though our functional currency is the U.S. dollar,
most of our subsidiaries generate revenues in other
currencies, such as Argentine pesos, Brazilian reais,
Colombian pesos, Costa Rican colones, Guatemalan
quetzales and, Peruvian soles. We generally have been
and will continue to be materially exposed to currency
fluctuations in our local currencies against the U.S.
dollar because of time lags and other limitations to
pegging our tariff rates to the U.S. dollar. This exposure
can substantially decrease the value of the cash
generated by our subsidiaries and the value of our
dividends when translated into U.S. dollars if our local
currencies experience a devaluation against the U.S.
dollar. For example, the Argentine peso and Colombian
peso devalued approximately 18% and 14% against the
U.S. dollar in 2021, respectively. Future volatility in the
currency exchange rate in which we receive revenues or
incur expenditures may adversely affect our business,
results of operations, and financial condition, especially
when measured in U.S. dollars, the currency that affects
our ADS holders.
Material Risks Related to Ownership of Our Shares and
ADSs
Our controlling shareholder may influence us and may
have a strategic view for our development that differs
from that of our minority shareholders.
Enel, our controlling shareholder, owns a beneficial
interest of 82.3% of our share capital as of the date of
this Report. Under Chilean corporate law, Enel has the
power to determine the outcome of all material matters
that require a simple majority of shareholders’ votes,
such as the election of most of the seats on our board,
and, subject to contractual and legal restrictions, the
adoption of our dividend policy, as well as all material
matters that require the approval of two-thirds of the
shareholders’ votes. Enel also exercises significant
influence over our business strategy and operations.
However, in some cases, its interests may differ from
those of our minority shareholders. Certain conflicts of
interest affecting Enel in these matters may be resolved
in a manner that is different from the interests of our
company or our minority shareholders.
for our shares and ADSs. The low liquidity of the markets
for our shares and ADSs may impair shareholders’ ability
to sell their shares or holders of ADSs to sell their ADSs
or the underlying shares of our common stock in the
public markets in the amount and at the desired price
and time, which could unfavorably affect the price of
our common stock and ADSs.
Following the 2021 tender offer by Enel S.p.A., our
public float has been reduced and negatively affected
the liquidity and market for our shares and ADSs.
The relative illiquidity and volatility of the Chilean
securities markets could unfavorably affect the price
of our common stock and ADSs.
Following the 2021 tender offer by Enel S.p.A., the
number of shares of our common stock and ADSs
remaining in public circulation decreased and resulted
in less liquidity and a less active public trading market
Even though we do not have assets in Chile, our shares
are traded on the Chilean Stock Exchanges because we
are organized under the laws of the Republic of Chile
and have our headquarters in Chile. Chilean securities
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than major securities markets in the United States and
other developed countries. The low liquidity of the
Chilean markets may impair shareholders’ ability to sell
shares, or holders of ADSs to sell shares of our common
stock withdrawn from the ADS program, on the Chilean
Stock Exchanges in the amount and at the desired price
and time.
Lawsuits against us brought outside of the Latin
American countries in which we operate, or complaints
against us based on foreign legal concepts may be
unsuccessful.
All our operations are located outside of the United
States. All our directors and officers reside outside
of the United States, and substantially all their assets
are located outside the United States. If investors were
to bring a lawsuit against our directors and officers
in the United States, it may be difficult for them to
effect service of legal process within the United States
upon these persons. It may also be difficult to enforce
judgments obtained in the U.S. courts based on civil
liability provisions of U.S. federal securities laws against
them in U.S. or Chilean courts. There is also doubt about
whether an action could be brought successfully in Chile
for liability based solely on the civil liability provisions of
U.S. federal securities laws.
We are subject to the effects of the armed conflict
between Russia and Ukraine.
The effects of the armed conflict between Russia and
Ukraine, which began in February 2022, on our company
are unknown. Although we do not have direct business
transactions with suppliers, clients, or lenders from
Russia or Ukraine, our business, results of operations,
and financial condition may be negatively impacted
by (i) limited access to financial markets; (ii) possible
interruptions in the global supply chain; and (iii) an
increase in inflationary pressures in the countries in
which we operate, which could increase the rates
charged to our customers.
We identified a material weakness in our internal
controls over financial reporting for fiscal year 2020,
which has been remediated; however, if we experience
additional material weaknesses or otherwise fail
to maintain an effective system of internal control
over financial reporting, it could result in material
m i s s t a t e m e n t s o f o u r c o n s o l i d a t e d f i n a n c i a l
statements, or cause us to fail to meet our periodic
reporting obligations.
In connection with the preparation of our financial
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Integrated Annual Report Enel Américas 2021
statements as of and for the year ended December 31,
2020, we identified a material weakness in our internal
control over financial reporting related to our general
information technology controls, including the design
and implementation of access-and-change management
controls. As a result, as reported in our annual report on
Form 20-F for the year ended December 31, 2020, our
management concluded that as of December 31, 2020,
our internal control over financial reporting was not
effective, although our consolidated financial statements
as of and for the year ended December 31, 2020, present
fairly, in all material respects, our consolidated financial
position, results of operations, and cash flows as of the
dates and for the periods presented.
A material weakness will not be considered remediated
until any applicable new or enhanced controls operate
for a sufficient period, and management has concluded
through testing that these controls are operating
effectively. We believe we have taken the necessary
steps to remediate the identified material weakness
and enhance our internal controls. Accordingly, our
management has concluded that, as of December 31,
2021, our internal control over financial reporting was
effective.
If we experience additional material weaknesses or
otherwise fail to maintain an effective system of internal
control over financial reporting, it could (i) result in a
material misstatement in our financial reporting or
financial statements that would not be prevented or
detected, (ii) cause us to fail to meet our reporting
obligations under applicable securities laws, or (iii) cause
investors to lose confidence in our financial reporting
or financial statements, the occurrence of any of which
could materially and adversely affect our business,
financial condition, cash flows, results of operations,
and the prices of our securities.
General Risk Factors
Our electricity business is subject to risks arising from
extreme weather events related to climate change,
natural disasters, catastrophic accidents, and acts of
vandalism or terrorism, which could unfavorably affect
our operations, earnings, and cash flow.
Our primary facilities include power plants and
transmission and distribution assets that are exposed
to damage from the increased severity and frequency of
extreme weather events, such as cyclones, hurricanes,
or floods, due to climate change, catastrophic natural
disasters, such as earthquakes and fires, and human
causes, such as vandalism, protests, riots, and terrorism.
A catastrophic event could cause prolonged unavailability
of our assets, disruptions in our business, significant
decreases in revenues due to lower demand, or
significant additional costs not covered by our business
interruption insurance and could require us to incur
unplanned capital expenditures. There may be lags
between a significant accident or catastrophic event
and the final reimbursement from our insurance policies,
which typically carry a deductible and are subject to per
event policy maximum amounts.
Any natural or human catastrophic disruption to our
electricity assets in the countries in which we operate
could significantly affect our business, results of
operations, and financial condition.
We are subject to financing risks, such as those
associated with funding our new projects and capital
expenditures or refinancing existing obligations.
As of December 31, 2021, our consolidated debt totaled
US$ 7.6 billion, mainly to accounts payable to related
parties and financial liabilities. Please see Notes 10 and
19 of the Notes to our consolidated financial statements
for further information on related party transactions and
financial liabilities, respectively.
A significant portion of our financial indebtedness is
subject to (i) financial covenants, (ii) affirmative and
negative covenants, (iii) events of default, (iv) mandatory
prepayments for contractual breaches, (v) change of
control clauses for material mergers and divestments,
(vi) bankruptcy and insolvency proceeding covenants,
and (vii) cross-default provisions, which have varying
definitions, criteria, materiality thresholds, and
applicability concerning subsidiaries that could result
in a cross-default event. Our debt may also become
immediately due and payable in cases involving
bankruptcy or insolvency proceedings of a significant
or material subsidiary.
The market conditions prevailing at any time may prevent
us from accessing capital markets or satisfying our
financial needs to fund new projects. We may also be
unable to raise the necessary funds required to finish our
projects under development or construction. Likewise,
we may be unable to refinance our debt or obtain such
refinancing in terms acceptable to us. In the absence of
such refinancing, we could be forced to liquidate assets
at unfavorable prices to make payments due on our debt.
Furthermore, we may be unable to sell our assets at
opportune moments or sufficiently high prices to obtain
proceeds that would enable us to make such payments.
O u r i na b i l i t y to f i na n c e n ew p ro j e ct s o r ca p i ta l
expenditures, refinance our existing debt, or comply
with our covenants could negatively affect our business,
results of operations, and financial condition.
Regulatory authorities may impose sanctions on our
subsidiaries due to operational failures or any breach
of regulations.
Our electricity businesses may be subject to regulatory
fines for any breach of current regulations, including
failures to supply energy, in the countries in which
we operate. Local regulatory entities supervise our
generation subsidiaries. We may be subject to fines
or penalties when the regulator determines that the
company is responsible for the operational failures
that affect the system’s regular energy supply, including
coordination issues. Our subsidiaries may be required
to pay fines or compensate customers if they cannot
deliver electricity, even if such failures are not within
their control, or when they do not meet environmental
or other standards. Fines may also be associated with a
breach of regulations. Please see Note 36 of the Notes
to our consolidated financial statements for further
information on sanctions.
We are involved in litigation proceedings.
We are involved in various litigation proceedings,
including lawsuits and arbitrations, that could result
in unfavorable decisions or financial penalties against
us. Given the difficulty of predicting the outcome of
legal matters, we have no certainty about the most likely
outcome of these proceedings or what the eventual fines
or penalties related to each litigation may be. Although
we intend to defend our positions vigorously, our defense
of these litigation proceedings may not be successful
and responding to such lawsuits and arbitrations diverts
resources and our management’s attention from day-
to-day operations.
Our financial condition or results of operations could be
unfavorably affected if we are unsuccessful in defending
these litigations or other lawsuits and legal proceedings
against us. Please see Note 34.3 of the Notes to our
consolidated financial statements for further information
on litigation and arbitration proceedings.
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The main facilities that are relevant to the Company's operation, in which Enel Américas subsidiaries carry out their main
business activities, are detailed in Chapter 4 in the Enel Américas Business by Country section.
Bands, patents, and insurance
Brands
The Company has registered the trademark "Enersis Américas" for services, products, commercial and industrial establishments.
In a letter addressed to the Board of Directors of Enel Américas S.A., sent in July 2016, Enel SpA authorized the free use of the
Enel brand by Enel Américas S.A., permitting the use of the aforementioned name and its inclusion in its corporate name, in
its logo or other forms of use. The Enel Américas trademark is duly registered.
Insurance
Enel Américas S.A. is part of a global program to cover risks, material damage, terrorism, business interruption and general
and environmental liability, led by its parent company, Enel SpA. The process of renewing insurance contracts was carried out
through an international tender, to which the main leading insurers worldwide were invited. The contracts were renewed on
November 1, 2021, a process that is valid until October 31, 2022.
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Other Corporate Regulatory Information 281
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Enel Américas’ direct and indirect participations
Argentina
Central Dock Sud S.A.
Enel Generación Costanera S.A.
Enel Generación El Chocón S.A.
Central Vuelta Obligado S.A.
Parque Solar Cauchari IV S.A.(1)
Compañía de Transmisión del Mercosur S.A.
Transportadora de Energía S.A.
Sacme S.A.
Yacylec S.A.
Empresa Distribuidora Sur S.A.
Enel Argentina S.A.
Enel Green Power Argentina S.A.(1)
Enel Trading Argentina S.R.L.
Hidroinvest S.A.
Distrilec Inversora S.A.
Inversora Dock Sud S.A.
(1) Companies incorporated by the merger of Enel Américas S.A. with Enel Green Power Américas S.A.
Brazil
EGP Cachoeira Dourada S.A.
Enel Generación Fortaleza S.A.
Enel Green Power Proyectos I (Volta Grande)
Compañías EGP’s Brazil (2) y (3)
Enel Cien S.A.
Enel Distribución Rio S.A.
Enel Distribución Sao Paulo S.A.
Enel Distribución Goiás S.A.
Enel Distribución Ceará S.A.
Enel Brazil S.A.
Enel X Brazil S.A.
Central Generadora Fotovoltaica Sao Francisco Ltda.
Luz de Angra Energía S.A.
Enel Trading Brazil S.A.
Business
Ownership
Gx
Gx
Gx
Gx
Gx
Tx
Tx
Tx
Tx
Dx
Ox
Ox
Ox
Ox
Ox
Ox
41.25%
75.62%
65.69%
25.43%
100.00%
100.00%
100.00%
36.04%
33.33%
72.09%
99.92%
100.00%
99.96%
96.65%
51.50%
57.14%
Business
Ownership
Gx
Gx
Gx
Gx
Tx
Dx
Dx
Dx
Dx
Ox
Ox
Ox
Ox
Ox
99.75%
100.00%
100.00%
100.00%
100.00%
99.73%
100.00%
99.96%
74.05%
100.00%
100.00%
100.00%
51.00%
100.00%
(2) Companies incorporated by the merger of Enel Américas S.A. with Enel Green Power Américas S.A.
(3) See details of the total number of companies that make up the EGP'S Brazil Companies, in Annex 1, of the Consolidated Financial Statements of
Enel Américas y Subsidiaries S.A. to 31.12.2021
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Integrated Annual Report Enel Américas 2021
Colombia
Emgesa S.A. E.S.P.
EGP Fotovoltaica La Loma S.A.(4)
Guayepo Solar SpA (5)
Latam Solar Fotovoltaica Fundación S.A.S. (5)
Atlántico Photovoltaic S.A.S. E.S.P. (5)
Compañía Distribuidora y Comercializadora de Energía S.A.
EGP Colombia S.A.S. E.S.P. (4)
Enel X Colombia S.A.S.
Sociedad Portuaria Central Cartagena S.A.
Inversora Codensa S.A.S.
Bogota ZE S.A.S.
Usme ZE S.A.S. (6)
Fontibon ZE S.A.S. (6)
Business
Ownership
Gx
Gx
Gx
Gx
Gx
Dx
Ox
Ox
Ox
Ox
Ox
Ox
Ox
48.48%
100.00%
100.00%
100.00%
100.00%
48.30%
100.00%
48.30%
48.47%
48.30%
48.30%
48.30%
48.30%
(4) Companies incorporated by the merger of Enel Américas S.A. with Enel Green Power Américas S.A.
(5) Companies acquired by EGP Colombia S.A.S. E.S.P during the second half of 2021, for the development of renewable electricity generation
projects.
(6) Companies incorporated during the first quarter of 2021, to develop electric mobility and public transport projects in Colombia.
Peru
Enel Generación Peru S.A.
Enel Generación Piura S.A.
Chinango S.A.C.
Empresa de Generación Eléctrica Los Pinos S.A. (7)
Energética Monzón S.A.C. (7)
Empresa de Generación Eléctrica Marcona S.A.C. (7)
Enel Distribución Peru S.A.
Enel Peru S.A.C.
EGP Peru S.A.C. (7)
Compañía Energética Veracruz S.A.C.
Enel X Peru S.A.C.
(7) Companies incorporated by the merger of Enel Américas S.A. with Enel Green Power Américas S.A.
Costa Rica
PH Chucas S.A. (8)
PH Don Pedro S.A. (8)
PH Rio Volcán S.A. (8)
Energía Global Operaciones S.A. (8)
EGP Costa Rica S.A. (8)
(8) Companies incorporated by the merger of Enel Américas S.A. with Enel Green Power Américas S.A.
Guatemala
Generadora Occidente Ltda. (9)
Generadora Montecristo S.A. (9)
Renovables de Guatemala S.A. (9)
Tecnoguat S.A. (9)
Transmisora de Energías Renovables S.A. (9)
EGP Guatemala S.A. (9)
(9) Companies incorporated by the merger of Enel Américas S.A. with Enel Green Power Américas S.A.
Business
Ownership
Gx
Gx
Gx
Gx
Gx
Gx
Dx
Ox
Ox
Ox
Ox
83.60%
96.50%
66.88%
100.00%
100.00%
100.00%
83.15%
100.00%
100.00%
100.00%
100.00%
Business
Ownership
Gx
Gx
Gx
Ox
Ox
99.50%
99.46%
99.15%
100.00%
100.00%
Business
Ownership
Gx
Gx
Gx
Gx
Tx
Ox
100.00%
100.00%
100.00%
75,00%
100.00%
100.00%
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Enel Fortuna S.A.(10)
Enel Solar S.R.L. (10)
Generadora Eólica Alto Pacora S.A. (10)
Generadora Solar Tole S.A. (10)
Llano Sanchez Solar Power One S.A. (10)
Generadora Solar Austral S.A. (10)
Jaguito Solar 10 MW S.A. (10)
Progreso Solar 20 MW S.A. (10)
Generadora Solar El Puerto S.A. (10)
Generadora Solar de Occidente S.A. (10)
EGP Panamá S.R.L. (10)
(9) Companies incorporated by the merger of Enel Américas S.A. with Enel Green Power Américas S.A.
Chile
Energía y Servicios South América S.P.A.
Essa 2 S.P.A.
Uruguay
Enel Uruguay S.A.
Gx= Generation
TX= Transmission
DX= Distribution
Ox= Gas pipelines, Marketing, and others
Business
Ownership
Gx
Gx
Gx
Gx
Gx
Gx
Gx
Gx
Gx
Gx
Ox
50.06%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
Business
Ox
Ox
Ownership
100.00%
100.00%
Business
Ox
Ownership
100.00%
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Integrated Annual Report Enel Américas 2021
Other Corporate Regulatory Information 285
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Perimeter of corporate holdings
99.92%
ENEL
Argentina S.A.
0.08%
Enel Generación
Chile S.A.
ENEL
Brasil S.A.
ESSA 2 S.P.A.
100.00%
100.00%
48.48%
EMGESA S.A.
99.99%
ENEL PERÚ S.A.C.
Edesur S.A.
43.10%
51.50%
56.36%
Distrilec
Inversora S.A.
55.00%
Enel Trading
Argentina S.R.L .
45.00%
Enel Generación
Costanera S.A.
75.68%
Enel Generación
El Chocón S.A.
8.67%
59.00%
41.94%
Hidroinvest S.A.
54.76%
Central
Dock Sud S.A.
0.24%
71.78%
60.15%
74.15%
Enel
Distribución
Ceará S.A.
74.05%
0.001%
99.999%
EGP
Guatemala S.A.
1.00%
EGP Cachoeira
Dourada S.A.
99.75%
99.00%
Generadora
de Occidente Ltda
Enel Distribución
Sao Paulo S.A.
100.00%
99.999%
Generadora
Montecristo S.A.
0.001%
EGP Projetos I
(Volta Grande)
100.00%
99.999%
Renovables
De Guatemala S.A.
0.001%
Enel Trading
Brasil S.A.
100.00%
99.999%
Transmisora
de Energía
Renovable S.A.
Gridspertise
Latam S.A.
0.00005%
75.00%
Tecnoguat S.A.
0.001%
10.00%
Enel
Distribución Rio S.A.
99.73%
99.97%
Enel Green
Power Panamá
S.R.L.
0.03%
Enel
Generación
Fortaleza S.A.
100.00%
57.14%
Inversora
Dock Sud S.A.
TESA S.A.
CTM S.A.
Enel Distribución
Goias S.A.
99.96%
33.33%
Yacilec S.A.
39.85%
25.85%
ENEL Cien S.A.
100.00%
99.24%
Enel Green Power
Argentina S.A.
0.76%
Enel Uruguay S.A.
100.00%
Enel Fortuna S.A.
50.06%
100.00%
Generadora
Solar Austral S.A.
1.00%
Enel Solar
S.R.L.
99.00%
100.00%
Jaquito Solar
10 MW S.A.
1.00%
Generadora
Eólica Alto
Pacora S.R.L.
1.00%
Generadora
Solar Tolé S.R.L.
99.00%
100.00%
Progreso
Solar 20 MW S.A.
99.00%
100.00%
95.00%
Parque Solar
Cauchari IV S.A.
5.00%
ENEL X
Brasil S.A.
100.00%
0.02%
Llano Sánchez
Solar Power
One S.R.L.
99.80%
100.00%
CHILE
ARGENTINA
BRAZIL
PERU
COLOMBIA
URUGUAY
CENTRAL AMERICA
100.00%
Central Geradora
Fotovoltaica
Sao Francisco Ltda.
Luz de Angra
Energia S.A.
(1) EGP`s Brazil corresponds to the group of companies
that develop the wind, solar and hydroelectric generation
business incorporated after the merger with EGP
Americas on April 1, 2021, its mesh is detailed on the next
page
286
Integrated Annual Report Enel Américas 2021
51.00%
100.00%
Energía y
Servicios South
América S.P.A.
100.00%
EGP´s
BRASIL
(1)
ENEL AMÉRICAS S.A.
100.00%
EGP Costa Rica S.A.
100.00%
Energía Global
Operaciones S.R.L.
40.31%
PH Chucas S.A.
33.44%
PH Don Pedro S.A.
GLOBYTE S.A.
66.54%
65.66%
34.32%
Ph Río Volcán S.A.
24.69%
48.30%
CODENSA S.A.
94.94%
Sociedad
Portuaria Central
Cartagena S.A.
5.05%
Inversora
Codensa S.A.S.
100.00%
100.00%
Enel X
Colombia S.A.S.
37.00%
Bogotá ZE S.A.S.
63.00%
USME ZE S.A.S.
100.00%
Fontibon ZE S.A.S.
100.00%
99.99994%
Enel Green Power
Colombia S.A.S. ESP
100.00%
Guayepo
Solar S.A.S.
100.00%
Latamsolar
Fotovoltaica
Fundación S.A.S
100.00%
EGP Fotovoltaica
La Loma S.A.S.
en liquidación
100.00%
Atlántico
Photovoltaic
S.A.S. ESP
Generadora
Solar El
Puerto S.A.
Generadora
Solar de
Occidente S.A.
99.99998%
Enel X
Perú S.A.C.
83.15%
96.50%
Enel
Distribución
Perú S.A.
Enel
Generación
Piura S.A.
99.99999%
83.60%
Compañía
Energética
Veracruz S.A.C.
Enel
Generación
Perú S.A.
80.00%
Chinango S.A.C.
99.9999%
0.0001%
Enel Green Power
Perú S.A.C.
99.99999%
Empresa de
Generación Eléctrica
Los Pinos S.A.
99.99999%
Energética Monzón
S.A.C.
0.00001%
99.99997%
Empresa de
Generación Eléctrica
Marcona S.A.C.
ENEL AMÉRICAS S.A.
Enel
Distribución
Ceará S.A.
Guatemala S.A.
1.00%
EGP Cachoeira
99.75%
Dourada S.A.
99.00%
Generadora
de Occidente Ltda
Enel Distribución
Sao Paulo S.A.
100.00%
99.999%
Generadora
0.001%
Montecristo S.A.
EGP Projetos I
(Volta Grande)
100.00%
99.999%
Renovables
0.001%
De Guatemala S.A.
99.92%
ENEL
Argentina S.A.
0.08%
Enel Generación
Chile S.A.
ENEL
Brasil S.A.
ESSA 2 S.P.A.
100.00%
100.00%
Edesur S.A.
43.10%
74.05%
0.001%
EGP
EGP Costa Rica S.A.
99.999%
100.00%
51.50%
56.36%
Distrilec
Inversora S.A.
55.00%
Enel Trading
45.00%
Argentina S.R.L .
Enel Generación
Costanera S.A.
75.68%
Enel Generación
El Chocón S.A.
8.67%
59.00%
41.94%
Hidroinvest S.A.
54.76%
Central
Dock Sud S.A.
0.24%
100.00%
Energía Global
Operaciones S.R.L.
40.31%
PH Chucas S.A.
33.44%
PH Don Pedro S.A.
Enel Trading
Brasil S.A.
100.00%
99.999%
Transmisora
de Energía
Renovable S.A.
Gridspertise
Latam S.A.
0.00005%
75.00%
Tecnoguat S.A.
0.001%
10.00%
66.54%
GLOBYTE S.A.
65.66%
34.32%
Ph Río Volcán S.A.
Enel
99.73%
Distribución Rio S.A.
99.97%
Enel Green
Power Panamá
S.R.L.
0.03%
Enel Fortuna S.A.
50.06%
100.00%
Generadora
Solar Austral S.A.
1.00%
Enel Solar
S.R.L.
99.00%
100.00%
Jaquito Solar
10 MW S.A.
99.24%
Enel Green Power
0.76%
Argentina S.A.
95.00%
Parque Solar
Cauchari IV S.A.
5.00%
1.00%
99.00%
100.00%
Enel Uruguay S.A.
100.00%
1.00%
Generadora
99.00%
100.00%
ENEL X
Brasil S.A.
100.00%
0.02%
99.80%
100.00%
Generadora
Eólica Alto
Pacora S.R.L.
Solar Tolé S.R.L.
Llano Sánchez
Solar Power
One S.R.L.
Progreso
Solar 20 MW S.A.
Generadora
Solar El
Puerto S.A.
Generadora
Solar de
Occidente S.A.
CHILE
ARGENTINA
BRAZIL
PERU
COLOMBIA
URUGUAY
CENTRAL AMERICA
100.00%
Central Geradora
Fotovoltaica
Sao Francisco Ltda.
Luz de Angra
Energia S.A.
(1) EGP`s Brazil corresponds to the group of companies
that develop the wind, solar and hydroelectric generation
business incorporated after the merger with EGP
Americas on April 1, 2021, its mesh is detailed on the next
page
51.00%
100.00%
Energía y
Servicios South
América S.P.A.
100.00%
EGP´s
BRASIL
(1)
71.78%
60.15%
74.15%
57.14%
Inversora
Dock Sud S.A.
TESA S.A.
CTM S.A.
Enel Distribución
99.96%
Goias S.A.
Enel
Generación
Fortaleza S.A.
100.00%
33.33%
Yacilec S.A.
39.85%
25.85%
ENEL Cien S.A.
100.00%
48.48%
EMGESA S.A.
99.99%
ENEL PERÚ S.A.C.
94.94%
Sociedad
Portuaria Central
Cartagena S.A.
5.05%
Inversora
Codensa S.A.S.
100.00%
24.69%
48.30%
CODENSA S.A.
100.00%
Enel X
Colombia S.A.S.
37.00%
Bogotá ZE S.A.S.
63.00%
USME ZE S.A.S.
100.00%
Fontibon ZE S.A.S.
100.00%
99.99994%
Enel Green Power
Colombia S.A.S. ESP
100.00%
Guayepo
Solar S.A.S.
100.00%
Latamsolar
Fotovoltaica
Fundación S.A.S
100.00%
EGP Fotovoltaica
La Loma S.A.S.
en liquidación
100.00%
Atlántico
Photovoltaic
S.A.S. ESP
99.99998%
Enel X
Perú S.A.C.
83.15%
96.50%
Enel
Distribución
Perú S.A.
Enel
Generación
Piura S.A.
99.99999%
83.60%
Compañía
Energética
Veracruz S.A.C.
Enel
Generación
Perú S.A.
80.00%
Chinango S.A.C.
99.9999%
0.0001%
Enel Green Power
Perú S.A.C.
99.99999%
Empresa de
Generación Eléctrica
Los Pinos S.A.
99.99999%
Energética Monzón
S.A.C.
0.00001%
99.99997%
Empresa de
Generación Eléctrica
Marcona S.A.C.
Other Corporate Regulatory Information 287
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes GRUPO EGP BRASIL
ENEL AMÉRICAS S.A.
100%
ENEL Brasil S.A.
EGP Salto
Apiacás S.A.
100% 100%
EGP Ventos de
Santa Ângela 1 S.A.
EGP Desenvolvimento
Ltda.
100% 100%
EGP Sao
Gonçalo 1 S.A.
EGP Sao
Gonçalo 2 S.A.
EGP Sao
Gonçalo 3 S.A.
EGP Sao
Gonçalo 4 S.A.
EGP Sao
Gonçalo 5 S.A.
100% 100%
EGP Ventos de
Santa Ângela 2 S.A.
100% 100%
EGP Ventos de
Santa Ângela 3 S.A.
100% 100%
EGP Ventos de
Santa Ângela 4 S.A.
100% 100%
EGP Ventos de
Santa Ângela 5 S.A.
100% 100%
EGP Ventos de
Santa Ângela 6 S.A.
EGP Sao
Gonçalo 6 S.A.
100% 100%
EGP Ventos de
Santa Ângela 7 S.A.
EGP Sao
Gonçalo 7 S.A.
EGP Sao
Gonçalo 8 S.A.
EGP Sao
Gonçalo 10 S.A.
EGP Sao
Gonçalo 11 S.A.
EGP Sao
Gonçalo 12 S.A.
EGP Sao
Gonçalo 14 S.A.
EGP Sao
Gonçalo 15 S.A.
EGP Sao
Gonçalo 17 S.A.
EGP Sao
Gonçalo 18 S.A.
EGP Sao
Gonçalo 19 S.A.
EGP Sao
Gonçalo 21 S.A.
EGP Sao
Gonçalo 22 S.A.
EGP Ituverava
Norte Solar S.A.
EGP Ituverava
Sul Solar S.A.
EGP Ituverava
Solar S.A.
Fótons de Santo
Anchieta Energias
Renováveis S.A.
EGP Horizonte
Mp Solar S.A.
100% 100%
EGP Ventos de
Santa Ângela 8 S.A.
100% 100%
EGP Ventos de
Santa Ângela 9 S.A.
100% 100%
EGP Ventos de
Santa Ângela 10 S.A.
100% 100%
EGP Ventos de
Santa Ângela 11 S.A.
100% 100%
EGP Ventos de
Santa Ângela 14 S.A.
100% 100%
EGP Ventos de
Santa Ângela 15 S.A.
100% 100%
EGP Ventos de
Santa Ângela 17 S.A.
100% 100%
EGP Ventos de
Santa Ângela 19 S.A.
100% 100%
EGP Ventos De
Santa Ângela 20 S.A.
100% 100%
EGP Ventos de
Santa Ângela 21 S.A.
100% 100%
100% 100%
100% 100%
100% 100%
100% 100%
100% 100%
100% 100%
EGP Nova
Olinda 01 S.A.
EGP Nova
Olinda 02 S.A.
EGP Nova
Olinda 03 S.A.
EGP Nova
Olinda 04 S.A.
EGP Nova
Olinda 05 S.A.
EGP Nova
Olinda 06 S.A.
EGP Nova
Olinda 07 S.A.
288
Integrated Annual Report Enel Américas 2021
EGP Ventos de
São Roque 01 S.A.
100% 100%
EGP Ventos de
São Roque 02 S.A.
100% 100%
EGP Ventos de
São Roque 03 S.A.
100% 100%
EGP Ventos de
São Roque 04 S.A.
100% 100%
EGP Ventos de
São Roque 05 S.A.
100% 100%
EGP Ventos de
São Roque 06 S.A.
100% 100%
EGP Ventos de
São Roque 07 S.A.
100% 100%
EGP Ventos de
São Roque 08 S.A.
100% 100%
EGP Delfina
A Eólica S.A.
EGP Delfina
B Eólica S.A.
EGP Delfina
C Eólica S.A.
EGP Delfina
D Eólica S.A.
EGP Delfina
E Eólica S.A.
EGP Cristal
Eólica S.A
EGP São Judas
Eólica S.A
EGP Primavera
Eólica S.A
EGP Emiliana
Eólica S.A
EGP Ventos de
São Roque 11 S.A.
100% 100%
EGP Joana
Eólica S.A.
EGP Ventos de
São Roque 13 S.A.
100% 100%
EGP Pau Ferro
Eólica S.A.
EGP Ventos de
São Roque 16 S.A.
100% 100%
EGP Pedra Do
Gerônimo Eólica S.A.
EGP Ventos de
São Roque 17 S.A.
100% 100%
EGP Ventos de
São Roque 18 S.A.
100% 100%
EGP Ventos de
São Roque 19 S.A.
100% 100%
EGP Tacaicó
Eólica S.A.
EGP Modelo I
Eolica S.A.
EGP Modelo II
Eólica S.A.
EGP Ventos de
São Roque 22 S.A.
100% 100%
EGP Dois Riachos
Eólica S.A.
EGP Ventos de
São Roque 26 S.A.
100% 100%
EGP Damascena
Eólica S.A.
EGP Ventos de
São Roque 29 S.A.
100% 100%
EGP Esperança
Eólica S.A.
EGP Nova
Olinda 08 S.A.
EGP Nova
Olinda 09 S.A.
EGP Zeus II -
Delfina 8 S.A.
EGP Zeus
Sul 1 Ltda.
EGP Zeus
Sul 2 S.A.
100% 100%
EGP Morro Do
Chapéu I Eólica S.A.
100% 100%
EGP Morro Do
Chapéu II Eólica S.A.
100% 100%
EGP São Abraão
Eólica S.A.
100% 100%
100% 100%
EGP Boa Vista
Eólica S.A.
EGP Maniçoba
Eólica S.A.
EGP Cumaru
100% 100%
Participaçoes S.A.
Ventos de Santo
Orestes Energías
Renováveis S.A.
EGP Ventos de Santa
100% 100%
Esperança 08 S.A.
EGP Cumaru 01 S.A.
100% 100%
EGP Ventos de
EGP Ventos de Santa
100% 100%
Santo Orestes 1 S.A.
Esperança 13 S.A.
Alvorada
Energia S.A.
Apiacás
Energia S.A.
EGP Cumaru 02 S.A.
100% 100%
EGP Ventos de
EGP Ventos de Santa
100% 100%
Santo Orestes 2 S.A.
Esperança 15 S.A.
Alba Energia Ltda.
EGP Cumaru 03 S.A.
100% 100%
EGP Lagoa
EGP Ventos de Santa
100% 100%
Participações S.A.
Esperança 16 S.A.
Bondia Energia Ltda.
EGP Cumaru 04 S.A.
100% 100%
EGP Cumaru 05 S.A.
100% 100%
EGP Cumaru
Solar 01 S.A.
EGP Cumaru
Solar 02 S.A.
100% 100%
100% 100%
EGP Ventos de Santa
100% 100%
Ângela ACL 12 S.A.
EGP Ventos de Santa
100% 100%
Angela ACL 13 S.A.
EGP Ventos de Santa
100% 100%
Angela ACL 16 S.A.
EGP Ventos de Santa
100% 100%
Angela ACL 18 S.A.
Ventos de São Roque
100% 100%
Energias Renováveis S.A.
EGP Aroeira 03 S.A.
100% 100%
EGP Aroeira 04 S.A.
100% 100%
EGP Aroeira 05 S.A.
100% 100%
EGP Aroeira 06 S.A.
100% 100%
EGP Aroeira 07 S.A.
100% 100%
EGP Aroeira 08 S.A.
100% 100%
EGP Aroeira 09 S.A.
100% 100%
Fazenda Aroeira
Empreendimento de
Energia Ltda.
100% 100%
EGP Lagoa
do Sol 01 S.A
EGP Lagoa
do Sol 02 S.A
EGP Lagoa
do Sol 03 S.A
EGP Lagoa
do Sol 04 S.A
EGP Lagoa
do Sol 05 S.A
EGP Lagoa
do Sol 06 S.A
EGP Lagoa
do Sol 07 S.A
EGP Lagoa
do Sol 08 S.A
EGP Lagoa
do Sol 09 S.A
EGP Novo
Lapa 01 S.A.
EGP Novo
Lapa 02 S.A.
EGP Novo
Lapa 03 S.A.
EGP Novo
Lapa 04 S.A.
EGP Novo
Lapa 05 S.A.
EGP Novo
Lapa 06 S.A.
EGP Novo
Lapa 07 S.A.
EGP Novo
Lapa 08 S.A.
EGP Ventos de Santa
100% 100%
EGP Boa
Esperança 17 S.A.
EGP Ventos de Santa
100% 100%
Esperança 21 S.A.
EGP Ventos de Santa
100% 100%
Esperança 22 S.A.
Vista 01 Ltda.
Enelpower
Do Brasil Ltda.
Isamu Ikeda
Energia S.A.
EGP Ventos de Santa
100% 100%
Esperança 25 S.A.
EGP Mourão S.A.
EGP Ventos de Santa
100% 100%
Enel Soluções
Esperança 26 S.A.
Energéticas Ltda.
EGP Fontes
100% 100%
Dos Ventos 2 S.A.
EGP Fontes
100% 100%
Dos Ventos 3 S.A.
Primavera
Energia S.A.
Quatiara
Energia S.A.
EGP Ventos de Santa
100% 100%
Esperança 1 S.A.
Socibe Energia S.A.
EGP Ventos de Santa
100% 100%
Esperança 3 S.A.
Jade Energia Ltda.
EGP Ventos de Santa
Ângela Energias
Renováveis S.A.
EGP Ventos de Santa
Ângela Energias
Renováveis S.A.
EGP Ventos de Santa
Esperança
Participações S.A.
EGP São
Micael 01 S.A.
EGP São
Micael 02 S.A.
EGP São
Micael 03 S.A.
EGP São
Micael 04 S.A.
EGP São
Micael 05 S.A.
100% 100%
EGP Esperança
100% 100%
Solar S.A.
EGP Fontes
Solar S.A.
100% 100%
EGP Fontes II
Participações S.A.
100% 100%
EGP Morro do
Chapéu Solar 01 S.A.
100% 100%
EGP Cabeça
de Boi S.A.
100% 100%
EGP Fazenda S.A.
100% 100%
EGP
Paranapanema S.A.
100% 100%
Central Geradora
Fotovoltaica Bom
Nome Ltda.
EGP Aroeira 01 S.A.
100% 100%
EGP Lagoa II
EGP Ventos de Santa
100% 100%
EGP Cerrado
Participações S.A.
Esperança 7 S.A.
Solar S.A.
EGP Aroeira 02 S.A.
100% 100%
EGP Lagoa III
Parque Eólico Palmas
100% 100%
EGP Brejolândia
Participações S.A.
Dos Ventos Ltda.
Solar S.A.
GRUPO EGP BRASIL
ENEL AMÉRICAS S.A.
ENEL Brasil S.A.
100%
100% 100%
EGP Ventos de
EGP Desenvolvimento
100% 100%
Santa Ângela 1 S.A.
Ltda.
EGP Salto
Apiacás S.A.
EGP Sao
Gonçalo 1 S.A.
100% 100%
EGP Ventos de
Santa Ângela 2 S.A.
EGP Sao
100% 100%
EGP Ventos de
Gonçalo 2 S.A.
Santa Ângela 3 S.A.
EGP Sao
100% 100%
EGP Ventos de
Gonçalo 3 S.A.
Santa Ângela 4 S.A.
EGP Sao
100% 100%
EGP Ventos de
Gonçalo 4 S.A.
Santa Ângela 5 S.A.
EGP Sao
100% 100%
EGP Ventos de
Gonçalo 5 S.A.
Santa Ângela 6 S.A.
EGP Sao
100% 100%
EGP Ventos de
Gonçalo 6 S.A.
Santa Ângela 7 S.A.
EGP Sao
100% 100%
EGP Ventos de
Gonçalo 7 S.A.
Santa Ângela 8 S.A.
EGP Sao
100% 100%
EGP Ventos de
Gonçalo 8 S.A.
Santa Ângela 9 S.A.
EGP Sao
100% 100%
EGP Ventos de
Gonçalo 10 S.A.
Santa Ângela 10 S.A.
EGP Sao
100% 100%
EGP Ventos de
Gonçalo 11 S.A.
Santa Ângela 11 S.A.
EGP Sao
100% 100%
EGP Ventos de
Gonçalo 12 S.A.
Santa Ângela 14 S.A.
EGP Sao
100% 100%
EGP Ventos de
Gonçalo 14 S.A.
Santa Ângela 15 S.A.
EGP Sao
100% 100%
EGP Ventos de
Gonçalo 15 S.A.
Santa Ângela 17 S.A.
EGP Sao
100% 100%
EGP Ventos de
Gonçalo 17 S.A.
Santa Ângela 19 S.A.
EGP Sao
100% 100%
EGP Ventos De
Gonçalo 18 S.A.
Santa Ângela 20 S.A.
EGP Sao
100% 100%
EGP Ventos de
Gonçalo 19 S.A.
Santa Ângela 21 S.A.
EGP Sao
100% 100%
Gonçalo 21 S.A.
EGP Sao
100% 100%
Gonçalo 22 S.A.
EGP Ituverava
Norte Solar S.A.
EGP Ituverava
Sul Solar S.A.
Solar S.A.
Fótons de Santo
Anchieta Energias
Renováveis S.A.
EGP Horizonte
Mp Solar S.A.
100% 100%
100% 100%
100% 100%
100% 100%
EGP Ituverava
100% 100%
EGP Nova
Olinda 01 S.A.
EGP Nova
Olinda 02 S.A.
EGP Nova
Olinda 03 S.A.
EGP Nova
Olinda 04 S.A.
EGP Nova
Olinda 05 S.A.
EGP Nova
Olinda 06 S.A.
EGP Nova
Olinda 07 S.A.
EGP Ventos de
100% 100%
São Roque 01 S.A.
EGP Ventos de
100% 100%
São Roque 02 S.A.
EGP Ventos de
100% 100%
São Roque 03 S.A.
EGP Ventos de
100% 100%
São Roque 04 S.A.
EGP Ventos de
100% 100%
São Roque 05 S.A.
EGP Delfina
A Eólica S.A.
EGP Delfina
B Eólica S.A.
EGP Delfina
C Eólica S.A.
EGP Delfina
D Eólica S.A.
EGP Delfina
E Eólica S.A.
EGP Cristal
Eólica S.A
EGP Ventos de
100% 100%
EGP São Judas
São Roque 06 S.A.
Eólica S.A
EGP Ventos de
100% 100%
EGP Primavera
São Roque 07 S.A.
EGP Ventos de
São Roque 08 S.A.
100% 100%
Eólica S.A
EGP Emiliana
Eólica S.A
EGP Ventos de
100% 100%
São Roque 11 S.A.
EGP Joana
Eólica S.A.
EGP Ventos de
100% 100%
EGP Pau Ferro
São Roque 13 S.A.
Eólica S.A.
EGP Ventos de
100% 100%
EGP Pedra Do
São Roque 16 S.A.
Gerônimo Eólica S.A.
EGP Ventos de
100% 100%
São Roque 17 S.A.
EGP Tacaicó
Eólica S.A.
EGP Ventos de
100% 100%
EGP Modelo I
São Roque 18 S.A.
Eolica S.A.
EGP Ventos de
100% 100%
EGP Dois Riachos
São Roque 22 S.A.
Eólica S.A.
EGP Ventos de
100% 100%
EGP Damascena
São Roque 26 S.A.
Eólica S.A.
EGP Ventos de
100% 100%
EGP Esperança
São Roque 29 S.A.
Eólica S.A.
EGP Nova
100% 100%
EGP Morro Do
Chapéu I Eólica S.A.
100% 100%
EGP Morro Do
Chapéu II Eólica S.A.
100% 100%
EGP São Abraão
Olinda 08 S.A.
EGP Nova
Olinda 09 S.A.
EGP Zeus II -
Delfina 8 S.A.
EGP Zeus
Sul 1 Ltda.
EGP Zeus
Sul 2 S.A.
Eólica S.A.
Eólica S.A.
Eólica S.A.
EGP Cumaru
Participaçoes S.A.
100% 100%
Ventos de Santo
Orestes Energías
Renováveis S.A.
EGP Ventos de Santa
Esperança 08 S.A.
100% 100%
EGP Cumaru 01 S.A.
100% 100%
EGP Ventos de
Santo Orestes 1 S.A.
EGP Ventos de Santa
Esperança 13 S.A.
100% 100%
Alvorada
Energia S.A.
Apiacás
Energia S.A.
EGP Cumaru 02 S.A.
100% 100%
EGP Ventos de
Santo Orestes 2 S.A.
EGP Ventos de Santa
Esperança 15 S.A.
100% 100%
Alba Energia Ltda.
EGP Cumaru 03 S.A.
100% 100%
EGP Lagoa
Participações S.A.
EGP Ventos de Santa
Esperança 16 S.A.
100% 100%
Bondia Energia Ltda.
EGP Cumaru 04 S.A.
100% 100%
EGP Cumaru 05 S.A.
100% 100%
EGP Cumaru
Solar 01 S.A.
EGP Cumaru
Solar 02 S.A.
100% 100%
100% 100%
EGP Ventos de Santa
Ângela ACL 12 S.A.
100% 100%
EGP Ventos de Santa
Angela ACL 13 S.A.
100% 100%
EGP Ventos de Santa
Angela ACL 16 S.A.
100% 100%
EGP Ventos de Santa
Angela ACL 18 S.A.
100% 100%
Ventos de São Roque
Energias Renováveis S.A.
100% 100%
EGP Lagoa
do Sol 01 S.A
EGP Lagoa
do Sol 02 S.A
EGP Lagoa
do Sol 03 S.A
EGP Lagoa
do Sol 04 S.A
EGP Lagoa
do Sol 05 S.A
EGP Lagoa
do Sol 06 S.A
EGP Lagoa
do Sol 07 S.A
EGP Lagoa
do Sol 08 S.A
EGP Lagoa
do Sol 09 S.A
EGP Ventos de Santa
Esperança 17 S.A.
100% 100%
EGP Boa
Vista 01 Ltda.
EGP Ventos de Santa
Esperança 21 S.A.
100% 100%
Enelpower
Do Brasil Ltda.
EGP Ventos de Santa
Esperança 22 S.A.
100% 100%
Isamu Ikeda
Energia S.A.
EGP Ventos de Santa
Esperança 25 S.A.
100% 100%
EGP Mourão S.A.
EGP Ventos de Santa
Esperança 26 S.A.
100% 100%
Enel Soluções
Energéticas Ltda.
EGP Fontes
Dos Ventos 2 S.A.
100% 100%
EGP Fontes
Dos Ventos 3 S.A.
100% 100%
Primavera
Energia S.A.
Quatiara
Energia S.A.
EGP Ventos de Santa
Esperança 1 S.A.
100% 100%
Socibe Energia S.A.
EGP Ventos de Santa
Esperança 3 S.A.
100% 100%
Jade Energia Ltda.
EGP Ventos de
100% 100%
EGP Modelo II
São Roque 19 S.A.
Eólica S.A.
EGP Aroeira 02 S.A.
100% 100%
EGP Lagoa III
Participações S.A.
Parque Eólico Palmas
Dos Ventos Ltda.
100% 100%
EGP Brejolândia
Solar S.A.
EGP Aroeira 01 S.A.
100% 100%
EGP Lagoa II
Participações S.A.
EGP Ventos de Santa
Esperança 7 S.A.
100% 100%
EGP Cerrado
Solar S.A.
EGP Aroeira 03 S.A.
100% 100%
EGP Aroeira 04 S.A.
100% 100%
EGP Aroeira 05 S.A.
100% 100%
EGP Aroeira 06 S.A.
100% 100%
EGP Aroeira 07 S.A.
100% 100%
EGP Aroeira 08 S.A.
100% 100%
100% 100%
EGP Boa Vista
EGP Aroeira 09 S.A.
100% 100%
100% 100%
EGP Maniçoba
Fazenda Aroeira
Empreendimento de
Energia Ltda.
100% 100%
EGP Novo
Lapa 01 S.A.
EGP Novo
Lapa 02 S.A.
EGP Novo
Lapa 03 S.A.
EGP Novo
Lapa 04 S.A.
EGP Novo
Lapa 05 S.A.
EGP Novo
Lapa 06 S.A.
EGP Novo
Lapa 07 S.A.
EGP Novo
Lapa 08 S.A.
EGP Ventos de Santa
Ângela Energias
Renováveis S.A.
EGP Ventos de Santa
Ângela Energias
Renováveis S.A.
EGP Ventos de Santa
Esperança
Participações S.A.
100% 100%
EGP Esperança
Solar S.A.
100% 100%
EGP Fontes
Solar S.A.
100% 100%
EGP Fontes II
Participações S.A.
EGP São
Micael 01 S.A.
EGP São
Micael 02 S.A.
EGP São
Micael 03 S.A.
EGP São
Micael 04 S.A.
EGP São
Micael 05 S.A.
100% 100%
EGP Morro do
Chapéu Solar 01 S.A.
100% 100%
EGP Cabeça
de Boi S.A.
100% 100%
EGP Fazenda S.A.
100% 100%
EGP
Paranapanema S.A.
100% 100%
Central Geradora
Fotovoltaica Bom
Nome Ltda.
Other Corporate Regulatory Information 289
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Information on subsidiaries and associates
Argentina
Company Name
Legal nature
Address
Subscribed
and paid-up
capital (1) in US$
thousand
% Of Enel
Américas'
stake in the
subsidiary as of
12.31.2020 (2)
% Of Enel
Américas'
stake in the
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
Summary corporate purpose
Directors
Chief Executive Officer/
Legal Representative
Central Dock Sud S.A.
Closed joint-stock
company
San Martín 140.
piso 2, CABA
165,524
41.25%
41.25%
1.60%
Juan José Marcet
The Company’s purpose is to generate electricity and its wholesale commercia-
lization. It may carry out all the complementary and subsidiary activities that are
linked to the corporate purpose, having, to this end, full legal capacity to acquire
rights and contract obligations and exercise all the actions that are not prohibited
by law, these articles of incorporation, the Specifications of the International Public
Tender for the Sale of the Shares of Central Dock Sud S.A., as well as any rule that
is expressly applicable to it.
Enel Generación Costa-
nera S.A.
Stock corporation
Avda. España
3301, Buenos
Aires, Argentina
126,901
75.62%
75.62%
0.99%
The Company’s purpose is to produce electrical energy and its wholesale commer-
cialization.
Pablo Gutierrez Cerezales
Enel Generación El
Chocón S.A.
Stock corporation
Avda. España
3301, Ciudad
Autónoma de
Buenos Aires,
Argentina
Central Vuelta de Obli-
gado S.A.
Closed joint-stock
company
Av. Thomas Edison
2701, Ciudad
Autónoma de
Buenos Aires,
Argentina
CTM Compañía de Tran-
smisión del Mercosur
S.A
Stock corporation
Bartolomé Mitre
797, piso 11,
Ciudad Autónoma
de Buenos Aires,
Argentina
TESA- Transportadora
de Energía S.A.
Stock corporation
Bartolomé
Mitre 797, piso
11Buenos Aires,
República de
Argentina
290
Integrated Annual Report Enel Américas 2021
218,808
65.69%
65.69%
1.52%
Production of electrical energy and its wholesale commercialization.
Daniel Garrido
5
25.43%
25.43%
0.01%
Leonardo Katz
40,930
100.00%
100.00%
0.01%
Claudio César Weyne da
Sandro Ariel Rollan
53,887
100.00%
100.00%
0.05%
Sandro Ariel Rollan
Production of electrical energy and its wholesale commercialization, and particu-
larly, the management of the purchase of equipment, construction, operation, and
maintenance of a thermal power plant called Vuelta de Obligado in compliance
with the "Agreement for the Management and Operation of Projects. Increase
the Availability of Thermal Generation and Adaptation of the Remuneration of the
Generation 2008-2011" signed on November 25, 2010. between the National State
and the signatory generating companies.
Provide high voltage electricity transmission services, both in the case of linking
national and international electricity systems, in accordance with current legi-
slation, for which purpose it may participate in national or international tenders,
become a concessionaire of public services for the transmission of electricity in
national or international high voltage and carry out all the activities that are neces-
sary to meet its commercial purpose.
Provide high voltage electricity transmission services, both in the case of linking
national and international electricity systems, for which purpose it may participate
in national or international tenders, become a concessionaire of the public servi-
ces of transmission of electrical energy in national or international high voltage,
and carry out all the activities that are necessary to meet its commercial purpose.
Chairman
Héctor Martín Mandarano
Vice Chairman
Jorge Esteban Ravlich
Directors
Juan Carlos Blanco
Mónica Diskin
Daniel Garrido
Fernando Boggini
Marcelo Adrián Sobico
Rodolfo Eduardo Berisso
Rodolfo Heriberto Freyre
Chairman
Juan Carlos Blanco
Vice Chairman
Francesco Tutoli
Directors
Daniel Garrido
Mónica Diskin
Jorge Piña
Horacio Frene
María Victoria Ramírez
Emilse Alejandra Juárez
Chairman
Juan Carlos Blanco
Vice Chairman
Francesco Tutoli
Directors
Mónica Diskin
María Victoria Ramírez
Daniel Garrido
María Cecilia Manso
Néstor Hugo Martín
Alberto Eduardo Mousist
Chairman
Leonardo Pablo Katz
Vice Chairman
Adrián Gustavo Salvatore
Directors
Mónica Diskin
Daniel Garrido
Mónica Diskin
Chairman
Juan Carlos Blanco
Vice Chairman
Cunha
Directors
Mónica Diski
Chairman
Juan Carlos Blanco
Vice Chairman
Claudio César Weyne da
Cunha
Directors
Mónica Diskin
Information on subsidiaries and associates
Argentina
Company Name
Legal nature
Address
Summary corporate purpose
Directors
Subscribed
and paid-up
capital (1) in US$
thousand
% Of Enel
Américas'
stake in the
% Of Enel
Américas'
stake in the
subsidiary as of
12.31.2020 (2)
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
Central Dock Sud S.A.
Closed joint-stock
San Martín 140.
company
piso 2, CABA
165,524
41.25%
41.25%
1.60%
The Company’s purpose is to generate electricity and its wholesale commercia-
lization. It may carry out all the complementary and subsidiary activities that are
linked to the corporate purpose, having, to this end, full legal capacity to acquire
rights and contract obligations and exercise all the actions that are not prohibited
by law, these articles of incorporation, the Specifications of the International Public
Tender for the Sale of the Shares of Central Dock Sud S.A., as well as any rule that
is expressly applicable to it.
Enel Generación Costa-
nera S.A.
Stock corporation
Avda. España
3301, Buenos
Aires, Argentina
126,901
75.62%
75.62%
0.99%
The Company’s purpose is to produce electrical energy and its wholesale commer-
cialization.
Enel Generación El
Chocón S.A.
Stock corporation
218,808
65.69%
65.69%
1.52%
Production of electrical energy and its wholesale commercialization.
Production of electrical energy and its wholesale commercialization, and particu-
larly, the management of the purchase of equipment, construction, operation, and
maintenance of a thermal power plant called Vuelta de Obligado in compliance
with the "Agreement for the Management and Operation of Projects. Increase
the Availability of Thermal Generation and Adaptation of the Remuneration of the
Generation 2008-2011" signed on November 25, 2010. between the National State
and the signatory generating companies.
Provide high voltage electricity transmission services, both in the case of linking
national and international electricity systems, in accordance with current legi-
slation, for which purpose it may participate in national or international tenders,
become a concessionaire of public services for the transmission of electricity in
national or international high voltage and carry out all the activities that are neces-
sary to meet its commercial purpose.
Provide high voltage electricity transmission services, both in the case of linking
national and international electricity systems, for which purpose it may participate
in national or international tenders, become a concessionaire of the public servi-
ces of transmission of electrical energy in national or international high voltage,
and carry out all the activities that are necessary to meet its commercial purpose.
Avda. España
3301, Ciudad
Autónoma de
Buenos Aires,
Argentina
Av. Thomas Edison
2701, Ciudad
Autónoma de
Buenos Aires,
Argentina
Bartolomé Mitre
797, piso 11,
de Buenos Aires,
Argentina
Bartolomé
Mitre 797, piso
República de
Argentina
Central Vuelta de Obli-
Closed joint-stock
gado S.A.
company
5
25.43%
25.43%
0.01%
CTM Compañía de Tran-
smisión del Mercosur
S.A
Stock corporation
Ciudad Autónoma
40,930
100.00%
100.00%
0.01%
TESA- Transportadora
de Energía S.A.
Stock corporation
11Buenos Aires,
53,887
100.00%
100.00%
0.05%
Chairman
Héctor Martín Mandarano
Vice Chairman
Jorge Esteban Ravlich
Directors
Juan Carlos Blanco
Mónica Diskin
Daniel Garrido
Fernando Boggini
Marcelo Adrián Sobico
Rodolfo Eduardo Berisso
Rodolfo Heriberto Freyre
Chairman
Juan Carlos Blanco
Vice Chairman
Francesco Tutoli
Directors
Daniel Garrido
Mónica Diskin
María Victoria Ramírez
Jorge Piña
Horacio Frene
Emilse Alejandra Juárez
Chairman
Juan Carlos Blanco
Vice Chairman
Francesco Tutoli
Directors
Mónica Diskin
María Victoria Ramírez
Daniel Garrido
María Cecilia Manso
Néstor Hugo Martín
Alberto Eduardo Mousist
Chairman
Leonardo Pablo Katz
Vice Chairman
Adrián Gustavo Salvatore
Directors
Mónica Diskin
Daniel Garrido
Mónica Diskin
Chairman
Juan Carlos Blanco
Vice Chairman
Claudio César Weyne da
Cunha
Directors
Mónica Diski
Chairman
Juan Carlos Blanco
Vice Chairman
Claudio César Weyne da
Cunha
Directors
Mónica Diskin
Chief Executive Officer/
Legal Representative
Juan José Marcet
Pablo Gutierrez Cerezales
Daniel Garrido
Leonardo Katz
Sandro Ariel Rollan
Sandro Ariel Rollan
Other Corporate Regulatory Information 291
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Company Name
Legal nature
Address
Subscribed
and paid-up
capital (1) in US$
thousand
% Of Enel
Américas'
stake in the
subsidiary as of
12.31.2020 (2)
% Of Enel
Américas'
stake in the
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
Summary corporate purpose
Directors
Chief Executive Officer/
Legal Representative
Sacme S.A.
Closed joint-stock
company
Avda. España
3251, Ciudad
Autónoma de
Buenos Aires,
Argentina
0.12
36.04%
36.04%
0.00%
Alejandro Salvatierra
Conduct, supervise and control the operation of the electricity generation, tran-
smission and sub-transmission system of the Federal Capital and Greater Buenos
Aires and the interconnections with the Argentine Interconnection System (SADI),
represent the distribution companies Edenor S.A. and Edesur S.A. in the operatio-
nal management before the Electricity Wholesale Market Management Company
(CAMMESA). In general, carry out all kinds of actions that allow it to properly carry
out its management, by virtue of being set up for this purpose by the concessio-
naire companies of the distribution and commercialization services of electrical
energy in the Federal Capital and Greater Buenos Aires, pursuant to the provisions
of the International Public Tender for the sale of Class A shares of Edenor S.A. and
Edesur S.A. and the relevant regulations.
Chairman
Leonardo Bednarik
Vice Chairman
José Luis Marinelli
Directors
Pablo Antonio Pérez
Gianluca Palumbo
Yacylec S.A.
Closed joint-stock
company
Bartolomé Mitre
797, piso 11º;
Ciudad Autónoma
de Buenos Aires,
Argentina
196
33.33%
33.33%
0.01%
Sandro Ariel Rollan
Construction, operation, and maintenance of the first electrical link between the
Yacyretá Hydroelectric Power Plant and the Resistencia Transformer Station and
the provision of electricity transmission services, including the operation by con-
cession under the modality of an independent carrier.
Edesur Empresa Distri-
buidora Sur S.A.
Stock corporation
San José 140
(1076) Capital Fe-
deral, Argentina
652,952
72.09%
72.09%
4.32%
Distribution and commercialization of electrical energy and related operations.
Gianluca Palumbo
Enel Argentina S.A.
Stock corporation
San José 140. piso
3, CABA
586,454
99.92%
99.92%
1.65%
Claudio Cunha
Enel Green Power
Argentina S.A.
Closed joint-stock
company
San Jose 140. piso
3, CABA
9,532
-
100.00%
0.00%
manage shares and investments in other companies incorporated both at home
Daniel Garrido
and abroad, including by becoming a controlling party thereof; making capital
Claudio Cesar Weyne Da
contributions to existing persons or companies or to be set up for the financing of
Cunha
Daniel Garrido
Chairman
Marcelo Daniel Meritan
Vice Chairman
Juan Manuel Pereyra
Directors
Juan Carlos Blanco
Francesco Tutoli
Guillermo Osvaldo Diaz
Matteo Milanesi
Raffaele Sardella
Luis Juan Bautista Piatti
Claudio César Constantino
Mónica Diskin
Oscar Arturo Quihillalt
Andrés Edgardo Blanco
Chairman
Juan Carlos Blanco
Vice Chairman
Francesco Tutoli
Directors
María Alejandra Martínez
Andrés Leonardo Vittone
Víctor José Díaz Bobillo
Mónica Diskin
Giovanni Zanchetta Jaime
Barba
Alejandro Martínez
Claudio César Weyne Da
Chairman
Cunha
Vice Chairman
Francesco Tutoli
Director
Juan Carlos Blanco
The Company’s purpose is to engage on its own account, for third parties or in
association with third parties, and directly or indirectly, to invest in companies and
enterprises, incorporated or to be incorporated dedicated to any of the following
activities: generation, production, transmission, distribution and / or commercia-
lization of electrical energy, and the provision of electric power services, and the
provision of engineering, consulting and management services for the operation
of power plants. To meet its purpose the company is fully and legally authorized to
acquire rights, enter into obligations and exercise all actions that are not prohibi-
ted by law or its articles of incorporation.
The company's purpose is related to the following activities: (a) Industrial: instal-
lation, operation, management and supervision of all types of assets associated
with the generation, transmission and distribution of electrical energy
(b) Import and Export: raw materials and all kinds of goods, derived products and
machinery related to the corporate purpose; (c) Services: provision of assistance,
maintenance, operation, management and advisory services of natural or legal
entities engaged in the production, transport, transformation, distribution and
marketing of electrical energy; (d) Financial or investment: acquire, maintain and
operations carried out or to be carried out; buy, sell, trade, manage and subscribe
all types of securities, shares, debentures and other transferable securities and
credit instruments, whether public or private, domestic or foreign, and of any
nature known or to be created in the future; carry out loan operations with or
without guarantee in the short, medium or long term, either at home or abroad;
grant bonds, guarantees and all kinds of real or personal guarantees for obliga-
tions of third parties, including for the maintenance of offers or the fulfillment of
contracts by third parties; (e) in general, all types of activities or businesses directly
or indirectly related to the activities described above.
292
Integrated Annual Report Enel Américas 2021
Avda. España
3251, Ciudad
Autónoma de
Buenos Aires,
Argentina
Bartolomé Mitre
797, piso 11º;
Ciudad Autónoma
de Buenos Aires,
Argentina
Company Name
Legal nature
Address
Summary corporate purpose
Directors
Subscribed
and paid-up
capital (1) in US$
thousand
% Of Enel
Américas'
stake in the
% Of Enel
Américas'
stake in the
subsidiary as of
12.31.2020 (2)
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
Sacme S.A.
Closed joint-stock
company
0.12
36.04%
36.04%
0.00%
Conduct, supervise and control the operation of the electricity generation, tran-
smission and sub-transmission system of the Federal Capital and Greater Buenos
Aires and the interconnections with the Argentine Interconnection System (SADI),
represent the distribution companies Edenor S.A. and Edesur S.A. in the operatio-
nal management before the Electricity Wholesale Market Management Company
(CAMMESA). In general, carry out all kinds of actions that allow it to properly carry
out its management, by virtue of being set up for this purpose by the concessio-
naire companies of the distribution and commercialization services of electrical
energy in the Federal Capital and Greater Buenos Aires, pursuant to the provisions
of the International Public Tender for the sale of Class A shares of Edenor S.A. and
Edesur S.A. and the relevant regulations.
Chairman
Leonardo Bednarik
Vice Chairman
José Luis Marinelli
Directors
Pablo Antonio Pérez
Gianluca Palumbo
Chief Executive Officer/
Legal Representative
Alejandro Salvatierra
Yacylec S.A.
Closed joint-stock
company
196
33.33%
33.33%
0.01%
Construction, operation, and maintenance of the first electrical link between the
Yacyretá Hydroelectric Power Plant and the Resistencia Transformer Station and
the provision of electricity transmission services, including the operation by con-
cession under the modality of an independent carrier.
Edesur Empresa Distri-
buidora Sur S.A.
San José 140
deral, Argentina
Stock corporation
(1076) Capital Fe-
652,952
72.09%
72.09%
4.32%
Distribution and commercialization of electrical energy and related operations.
Enel Argentina S.A.
Stock corporation
586,454
99.92%
99.92%
1.65%
San José 140. piso
3, CABA
Enel Green Power
Argentina S.A.
Closed joint-stock
San Jose 140. piso
company
3, CABA
9,532
-
100.00%
0.00%
The Company’s purpose is to engage on its own account, for third parties or in
association with third parties, and directly or indirectly, to invest in companies and
enterprises, incorporated or to be incorporated dedicated to any of the following
activities: generation, production, transmission, distribution and / or commercia-
lization of electrical energy, and the provision of electric power services, and the
provision of engineering, consulting and management services for the operation
of power plants. To meet its purpose the company is fully and legally authorized to
acquire rights, enter into obligations and exercise all actions that are not prohibi-
ted by law or its articles of incorporation.
The company's purpose is related to the following activities: (a) Industrial: instal-
lation, operation, management and supervision of all types of assets associated
with the generation, transmission and distribution of electrical energy
(b) Import and Export: raw materials and all kinds of goods, derived products and
machinery related to the corporate purpose; (c) Services: provision of assistance,
maintenance, operation, management and advisory services of natural or legal
entities engaged in the production, transport, transformation, distribution and
marketing of electrical energy; (d) Financial or investment: acquire, maintain and
manage shares and investments in other companies incorporated both at home
and abroad, including by becoming a controlling party thereof; making capital
contributions to existing persons or companies or to be set up for the financing of
operations carried out or to be carried out; buy, sell, trade, manage and subscribe
all types of securities, shares, debentures and other transferable securities and
credit instruments, whether public or private, domestic or foreign, and of any
nature known or to be created in the future; carry out loan operations with or
without guarantee in the short, medium or long term, either at home or abroad;
grant bonds, guarantees and all kinds of real or personal guarantees for obliga-
tions of third parties, including for the maintenance of offers or the fulfillment of
contracts by third parties; (e) in general, all types of activities or businesses directly
or indirectly related to the activities described above.
Chairman
Marcelo Daniel Meritan
Vice Chairman
Juan Manuel Pereyra
Directors
Juan Carlos Blanco
Francesco Tutoli
Guillermo Osvaldo Diaz
Matteo Milanesi
Raffaele Sardella
Luis Juan Bautista Piatti
Claudio César Constantino
Mónica Diskin
Oscar Arturo Quihillalt
Andrés Edgardo Blanco
Chairman
Juan Carlos Blanco
Vice Chairman
Francesco Tutoli
Directors
María Alejandra Martínez
Andrés Leonardo Vittone
Víctor José Díaz Bobillo
Mónica Diskin
Giovanni Zanchetta Jaime
Barba
Alejandro Martínez
Chairman
Claudio César Weyne Da
Cunha
Vice Chairman
Francesco Tutoli
Director
Juan Carlos Blanco
Sandro Ariel Rollan
Gianluca Palumbo
Claudio Cunha
Daniel Garrido
Claudio Cesar Weyne Da
Cunha
Daniel Garrido
Other Corporate Regulatory Information 293
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Company Name
Legal nature
Address
Subscribed
and paid-up
capital (1) in US$
thousand
% Of Enel
Américas'
stake in the
subsidiary as of
12.31.2020 (2)
% Of Enel
Américas'
stake in the
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
ETA- Enel Trading Ar-
gentina S.R.L
Limited liability
company
San José 140. piso
6, CABA Buenos
Aires, Argentina
7,676
99.96%
99.96%
0.02%
Hidroinvest S.A.
Stock corporation
Avda, España
3301 Buenos
Aires, Argentina
123,367
96.65%
96.65%
0.69%
Claudio Cunha
Distrilec Inversora S.A.
Closed joint-stock
company
San José 140.
Buenos Aires,
Argentina
373,863
51.50%
51.50%
0.03%
Gonzalo Pérez Moore
Its exclusive purpose is capital investment in companies set up or to be set up
whose main activity is to distribute electrical energy or that directly or indirectly
participate in companies with said main activity by carrying out all kinds of financial
and investment activities, except those provided for in laws of financial institutions,
the purchase and sale of public and private securities, bonds, shares, negotiable
obligations and loans, and the placement of their funds in bank deposits of any kind.
Inversora Dock Sud S.A.
Closed joint-stock
company
San Martin 140.
piso 2, CABA
7,782
57.14%
57.14%
0.05%
Parque Solar Cauchari
S.A.
Closed joint-stock
company
Dr. Sabin 1061,
Barrio Ciudad
de Nieva, San
Salvador de Jujuy,
Provincia de Jujuy
5
-
100.00%
0.00%
that of wind farms and / or solar parks or any other source of renewable energy,
James Lee Stancampiano
Daniel Garrido
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to US$
in accordance with International Accounting Standards
(2) Percentage of Enel Américas' direct and indirect economic participation through its subsidiaries.
Summary corporate purpose
Directors
Chief Executive Officer/
Legal Representative
The purchase and wholesale of power and electrical energy produced by third
parties and / or to be consumed by third parties, including imports and exports of
power and electrical energy and the commercialization of royalties. Purchase and
sale transactions of natural gas, liquid fuels such as petroleum, lubricants, and /
or their transport, including the import and / or export of natural gas and / or the
commercialization of royalties, as well as the provision and / or performance of
services related to the aforementioned activity.
Acquire and maintain a majority stake in Hidroeléctrica Alicura S.A. and/or Hidroe-
léctrica El Chocón S.A. and/or Hidroeléctrica Cerros Colorados S.A. ("the conces-
sionaire companies") created by Decree of the National Executive Power 287/93
and manage such investments.
Francesco Tutoli
Claudio Cesar Weyna Da
Cunha
Sergio Camps
Claudio César Weyne Da
Chairman
Cunha
Vice Chairman
Franceso Tutoli
Chairman
Guillermo P. Reca
Vice Chairman
Claudio César Weyne Da
Cunha
Directors
Gabriel Grande
Francesco Tutoli
Leonel Sánchez
Andrés L. Vittone
Gonzalo Pérez Moore
Víctor J. Díaz Bobillo
Marcelo Suva
Chairman
Juan Carlos Blanco
Héctor Martín Mandarano
Marcelo Adrián Sóbico
Jorge Esteban Ravlich
The Company’s purpose is to participate in companies of any nature through the
creation of joint stock companies, temporary unions of companies, collaboration
Vice Chairman
Daniel Garrido
groups, joint ventures, consortia, and any other form of association and, in general,
the purchase, sale and negotiation of securities, shares and all other types of tran-
Directors
sferable securities and credit papers in any of the systems or modalities created or
Mónica Diskin
to be created.
Juan José Marcet
The Company’s purpose is to engage on its own account, for third parties or in asso-
Chairman
ciation with third parties, in the installation, exploitation, operation and management
Maurizio Bezzeccheri
of all kinds of assets associated with the generation, transmission and distribution of
electrical energy, under the terms and within the limitations of Law 24.065, including
Vice Chairman
own or of third parties, for the generation and production of electrical energy and
its commercialization, for which purpose it may carry out any other operations
Directors
complementary to its industrial and commercial activity or that might be necessary
Gaetano Salierno
to reach its purpose.
294
Integrated Annual Report Enel Américas 2021
Subscribed
and paid-up
capital (1) in US$
thousand
% Of Enel
Américas'
stake in the
% Of Enel
Américas'
stake in the
subsidiary as of
12.31.2020 (2)
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
ETA- Enel Trading Ar-
Limited liability
gentina S.R.L
company
San José 140. piso
6, CABA Buenos
Aires, Argentina
7,676
99.96%
99.96%
0.02%
Hidroinvest S.A.
Stock corporation
123,367
96.65%
96.65%
0.69%
Avda, España
3301 Buenos
Aires, Argentina
Distrilec Inversora S.A.
373,863
51.50%
51.50%
0.03%
Closed joint-stock
company
San José 140.
Buenos Aires,
Argentina
Inversora Dock Sud S.A.
Closed joint-stock
San Martin 140.
company
piso 2, CABA
7,782
57.14%
57.14%
0.05%
Parque Solar Cauchari
Closed joint-stock
S.A.
company
5
-
100.00%
0.00%
Dr. Sabin 1061,
Barrio Ciudad
de Nieva, San
Salvador de Jujuy,
Provincia de Jujuy
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to US$
in accordance with International Accounting Standards
(2) Percentage of Enel Américas' direct and indirect economic participation through its subsidiaries.
Company Name
Legal nature
Address
Summary corporate purpose
Directors
Chief Executive Officer/
Legal Representative
The purchase and wholesale of power and electrical energy produced by third
parties and / or to be consumed by third parties, including imports and exports of
power and electrical energy and the commercialization of royalties. Purchase and
sale transactions of natural gas, liquid fuels such as petroleum, lubricants, and /
or their transport, including the import and / or export of natural gas and / or the
commercialization of royalties, as well as the provision and / or performance of
services related to the aforementioned activity.
Acquire and maintain a majority stake in Hidroeléctrica Alicura S.A. and/or Hidroe-
léctrica El Chocón S.A. and/or Hidroeléctrica Cerros Colorados S.A. ("the conces-
sionaire companies") created by Decree of the National Executive Power 287/93
and manage such investments.
Its exclusive purpose is capital investment in companies set up or to be set up
whose main activity is to distribute electrical energy or that directly or indirectly
participate in companies with said main activity by carrying out all kinds of financial
and investment activities, except those provided for in laws of financial institutions,
the purchase and sale of public and private securities, bonds, shares, negotiable
obligations and loans, and the placement of their funds in bank deposits of any kind.
The Company’s purpose is to participate in companies of any nature through the
creation of joint stock companies, temporary unions of companies, collaboration
groups, joint ventures, consortia, and any other form of association and, in general,
the purchase, sale and negotiation of securities, shares and all other types of tran-
sferable securities and credit papers in any of the systems or modalities created or
to be created.
The Company’s purpose is to engage on its own account, for third parties or in asso-
ciation with third parties, in the installation, exploitation, operation and management
of all kinds of assets associated with the generation, transmission and distribution of
electrical energy, under the terms and within the limitations of Law 24.065, including
that of wind farms and / or solar parks or any other source of renewable energy,
own or of third parties, for the generation and production of electrical energy and
its commercialization, for which purpose it may carry out any other operations
complementary to its industrial and commercial activity or that might be necessary
to reach its purpose.
Francesco Tutoli
Claudio Cesar Weyna Da
Cunha
Sergio Camps
Claudio Cunha
Gonzalo Pérez Moore
Juan José Marcet
Chairman
Claudio César Weyne Da
Cunha
Vice Chairman
Franceso Tutoli
Chairman
Guillermo P. Reca
Vice Chairman
Claudio César Weyne Da
Cunha
Directors
Gabriel Grande
Francesco Tutoli
Leonel Sánchez
Andrés L. Vittone
Gonzalo Pérez Moore
Víctor J. Díaz Bobillo
Marcelo Suva
Chairman
Juan Carlos Blanco
Vice Chairman
Daniel Garrido
Directors
Mónica Diskin
Héctor Martín Mandarano
Marcelo Adrián Sóbico
Jorge Esteban Ravlich
Chairman
Maurizio Bezzeccheri
Vice Chairman
James Lee Stancampiano
Daniel Garrido
Directors
Gaetano Salierno
Other Corporate Regulatory Information 295
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Brazil
Company name
Legal nature
Address
Enel Green Power Ca-
choeira Dourada S.A.
Privately held
corporation
Enel Generación Forta-
leza S.A
Privately held
corporation
Enel Green Power Volta
Grande S.A.
Closed joint-
stock company.
Rodovia GO 206,
Km 0. Cachoeira
Dourada Goiânia
Goiás, Brazil
Rodovia 422, Km
1 s/n,, Complexo
Industrial e Por-
tuário de Pecém
Caucaia, Ceará,
Brazil
Avenida Oscar
Niemeyer, nº
2000. Bloco 01,
Sala 601, parte,
Aqwa Corporate,
Santo Cristo, Rio
de Janeiro
Subscribed and
paid-up capital
(1) in US$
thousand
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2020 (2)
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
11,551
99.75%
99.75%
0.50%
27,278
100.00%
100.00%
1.00%
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
The company's corporate purpose is to carry out studies, planning, construction,
installation, operation, and development of electric power plants, as well as the
practice of trade, including retail, and import and export activities. Similarly, the
company can promote or participate in other companies set up to produce
electrical energy, inside or outside the State of Goiás.
Study, design, build and explore the systems of production, transmission, distribu-
tion and commercialization of electrical energy granted, permitted or authorized
under any title or right, as well as other activities related to the aforementioned
activities; the acquisition, purchase and exploration of any rights, concessions
and privileges related to the above activities, as well as the practice of all other
actions and business necessary to reach its objective; and participation in the
share capital of other companies as a shareholder, partner or in a participation
account, whatever their objectives.
PChairman
Roberta Bonomi
Julia Freitas de Alcântara
Directors
Nunes
Marcia Massotti de Carvalho
Roberta Bonomi
Company without a Board of
Directors
Roberta Bonomi
101,572
100.00%
100.00%
0.86%
The Company’s purpose is to generate electricity, as granted, permitted, and au-
thorized by the Granting Power. It may also commercialize energy in any modality
and in any market.
Company without a Board of
Directors
Roberta Bonomi
Compañías EGP’s Brazil
`(3)
`(3)
`(3)
-
100.00%
15.89%
`(3)
`(3)
`(3)
51,175
100.00%
100.00%
0.85%
Company without a Board of
Directors
Guilherme Lencastre
The Company’s purpose is the production, industrialization, distribution, and
commercialization of electrical energy, including import and export activities.
To meet its purpose, the Company will promote the study, planning and con-
struction of the facilities related to the production, transmission, conversion, and
distribution systems of electrical energy, making, and capturing the necessary
investments to develop the works to be carried out and providing services. The
Company may also promote the implementation of associated projects, as well as
inherent, accessory, or complementary activities to the services and works that it
provides. For that purpose, the Company may participate in other companies.
448,516
99.73%
99.73%
4.23%
Anna Paula Hiotte Pacheco
Study, plan, develop, build, and explore the systems of production, transmission,
Mario Fernando de Melo
transformation, distribution and trade of electrical energy, as well as provide re-
Santos
lated services that have been or may be granted; carry out research in the energy
sector; participate in regional, national and international organizations of the
Directors
electricity sector and participate in other companies related to the energy sector
Nicola Cotugno
as a shareholder, including in the scope of privatization programs in Brazil.
Márcia Sandra Roque Vieira
552,878
100.00%
100.00%
6.78%
Max Xavier Lins
Chairman
Guilherme Gomes Lencastre
Vice Chairman
Silva
Anna Paula Hiotte Pacheco
Gino Celentano
Otacilio de Souza Junior
Chairman
Guilherme Gomes Lencastre
Vice Chairman
Britaldo Pedrosa Soares
Directors
Mario Fernando Melo Santos
Nicola Cotugno
Aurelio Ricardo Bustilho de
Marcia Sandra Roque Vieira
Oliveira
Silva
Regina Lucia Strepeckes
Ana Claudia Gonçalves
Rebello
Gino Celentano
The company's purpose is: to exploit public energy services, mainly electricity, in
the areas referred to in the Concession Contract and in others in which, pursuant
to the applicable legislation, it is authorized to act; study, elaborate, design, exe-
cute, explore or transfer research and development plans and programs that en-
vision any type or form of energy; participate in ventures aimed at the distribution
and trade of energy; provide technical services for the operation, maintenance
and planning of third-party electrical installations; provide services for the opti-
mization of energy processes and electrical installations of consumers; onerous
assignment of easement strips of lines and exploitable land areas for plants and
deposits; provide other services of a public or private nature, including IT services
through the operation of its infrastructure, in order to produce complementary or
ancillary alternative revenues; contribute to the preservation of the environment,
as well as participate in social programs of Community interest; participate in
ventures that promote better use of their real estate assets; and participate in
other companies as a partner, stakeholder or shareholder.
Enel CIEN S.A.
Privately held
corporation
Enel Distribución
RIO S.A.
AMPLA ENERGÍA (Am-
pla Energía e Serviços
S.A.)
Publicly traded
company
Enel Distribución São
Paulo SA
Eletropaulo
Metropolitana
Eletricidade de
São Paulo S.A
Avenida Oscar
Niemeyer, nº
2000. Bloco 01,
Sala 601, parte,
Aqwa Corporate,
Santo Cristo, Rio
de Janeiro
Avenida Oscar
Niemeyer, nº
2000. Sala 701,
parte, Aqwa
Corporate, Santo
Cristo, Rio de
Janeiro
Av. das Nações
Unidas 14401,
torre B1 Aroeira,
17° ao 23° andar,
conjunto 231,
Torre B1 Aroeira,
Vila Gertrudes,
São Paulo
296
Integrated Annual Report Enel Américas 2021
Brazil
Subscribed and
paid-up capital
(1) in US$
thousand
% Of Enel
Américas’
stake in the
% Of Enel
Américas’
stake in the
subsidiary as of
subsidiary as of
12.31.2020 (2)
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
Enel Green Power Ca-
choeira Dourada S.A.
Privately held
corporation
11,551
99.75%
99.75%
0.50%
Enel Generación Forta-
leza S.A
Privately held
corporation
27,278
100.00%
100.00%
1.00%
Enel CIEN S.A.
Privately held
corporation
51,175
100.00%
100.00%
0.85%
Enel Distribución
RIO S.A.
AMPLA ENERGÍA (Am-
pla Energía e Serviços
Publicly traded
company
S.A.)
448,516
99.73%
99.73%
4.23%
Enel Distribución São
Paulo SA
Eletropaulo
Metropolitana
Eletricidade de
São Paulo S.A
552,878
100.00%
100.00%
6.78%
Rodovia GO 206,
Km 0. Cachoeira
Dourada Goiânia
Goiás, Brazil
Rodovia 422, Km
1 s/n,, Complexo
Industrial e Por-
tuário de Pecém
Caucaia, Ceará,
Brazil
Avenida Oscar
Niemeyer, nº
2000. Bloco 01,
Sala 601, parte,
Aqwa Corporate,
Santo Cristo, Rio
de Janeiro
Avenida Oscar
Niemeyer, nº
2000. Bloco 01,
Sala 601, parte,
Aqwa Corporate,
Santo Cristo, Rio
de Janeiro
Avenida Oscar
Niemeyer, nº
2000. Sala 701,
parte, Aqwa
Corporate, Santo
Cristo, Rio de
Janeiro
Av. das Nações
Unidas 14401,
torre B1 Aroeira,
17° ao 23° andar,
conjunto 231,
Torre B1 Aroeira,
Vila Gertrudes,
São Paulo
Company name
Legal nature
Address
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
The company's corporate purpose is to carry out studies, planning, construction,
installation, operation, and development of electric power plants, as well as the
practice of trade, including retail, and import and export activities. Similarly, the
company can promote or participate in other companies set up to produce
electrical energy, inside or outside the State of Goiás.
Study, design, build and explore the systems of production, transmission, distribu-
tion and commercialization of electrical energy granted, permitted or authorized
under any title or right, as well as other activities related to the aforementioned
activities; the acquisition, purchase and exploration of any rights, concessions
and privileges related to the above activities, as well as the practice of all other
actions and business necessary to reach its objective; and participation in the
share capital of other companies as a shareholder, partner or in a participation
account, whatever their objectives.
PChairman
Roberta Bonomi
Directors
Julia Freitas de Alcântara
Nunes
Marcia Massotti de Carvalho
Roberta Bonomi
Company without a Board of
Directors
Roberta Bonomi
Enel Green Power Volta
Closed joint-
Grande S.A.
stock company.
101,572
100.00%
100.00%
0.86%
The Company’s purpose is to generate electricity, as granted, permitted, and au-
thorized by the Granting Power. It may also commercialize energy in any modality
and in any market.
Company without a Board of
Directors
Roberta Bonomi
Compañías EGP’s Brazil
`(3)
`(3)
`(3)
-
100.00%
15.89%
`(3)
`(3)
`(3)
The Company’s purpose is the production, industrialization, distribution, and
commercialization of electrical energy, including import and export activities.
To meet its purpose, the Company will promote the study, planning and con-
struction of the facilities related to the production, transmission, conversion, and
distribution systems of electrical energy, making, and capturing the necessary
investments to develop the works to be carried out and providing services. The
Company may also promote the implementation of associated projects, as well as
inherent, accessory, or complementary activities to the services and works that it
provides. For that purpose, the Company may participate in other companies.
Study, plan, develop, build, and explore the systems of production, transmission,
transformation, distribution and trade of electrical energy, as well as provide re-
lated services that have been or may be granted; carry out research in the energy
sector; participate in regional, national and international organizations of the
electricity sector and participate in other companies related to the energy sector
as a shareholder, including in the scope of privatization programs in Brazil.
The company's purpose is: to exploit public energy services, mainly electricity, in
the areas referred to in the Concession Contract and in others in which, pursuant
to the applicable legislation, it is authorized to act; study, elaborate, design, exe-
cute, explore or transfer research and development plans and programs that en-
vision any type or form of energy; participate in ventures aimed at the distribution
and trade of energy; provide technical services for the operation, maintenance
and planning of third-party electrical installations; provide services for the opti-
mization of energy processes and electrical installations of consumers; onerous
assignment of easement strips of lines and exploitable land areas for plants and
deposits; provide other services of a public or private nature, including IT services
through the operation of its infrastructure, in order to produce complementary or
ancillary alternative revenues; contribute to the preservation of the environment,
as well as participate in social programs of Community interest; participate in
ventures that promote better use of their real estate assets; and participate in
other companies as a partner, stakeholder or shareholder.
Company without a Board of
Directors
Guilherme Lencastre
Chairman
Guilherme Gomes Lencastre
Vice Chairman
Mario Fernando de Melo
Santos
Directors
Nicola Cotugno
Márcia Sandra Roque Vieira
Silva
Anna Paula Hiotte Pacheco
Gino Celentano
Otacilio de Souza Junior
Chairman
Guilherme Gomes Lencastre
Vice Chairman
Britaldo Pedrosa Soares
Directors
Mario Fernando Melo Santos
Nicola Cotugno
Aurelio Ricardo Bustilho de
Oliveira
Marcia Sandra Roque Vieira
Silva
Regina Lucia Strepeckes
Ana Claudia Gonçalves
Rebello
Gino Celentano
Anna Paula Hiotte Pacheco
Max Xavier Lins
Other Corporate Regulatory Information 297
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Company name
Legal nature
Address
Subscribed and
paid-up capital
(1) in US$
thousand
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2020 (2)
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
Enel Distribución Goiás
S.A.
Celg Distribuição S.A. -
Celg-D
Publicly traded
company
Rua 2, Quadra
A-37, nº 505,
Jardim Goiás,
Goiânia, Goiás.
1,017,049
99.96%
99.96%
6.55%
The company's purpose is the technical and commercial exploration of electricity
Directors
distribution.
José Nunes de Almeida Neto
Enel Distribución Ceará
S.A.
COELCE (Companhia
Energética do Ceará
S.A.)
Publicly traded
company
Rua 2, Quadra
A-37, nº 505,
Jardim Goiás,
Goiânia, Goiás.
164,156
74.05%
74.05%
4.03%
Production, transmission, distribution and marketing of electrical energy, provi-
sion of correlated services granted or authorized to them and the development
of activities associated with the services, as well as commercia actions related to
those activities.
Marcia Sandra Roque Vieira
Silva
Enel Brazil S.A
Privately held
corporation
Enel X Brazil Brazil S.A
(Formerly Enel Soluçoes
S.A.)
Privately held
corporation
Central Generadora
Fotovoltaica São Fran-
cisco Ltda
Limited Com-
mercial company
established in
accordance with
the laws of the
Federative Repu-
blic of Brazil..
Luz de Angra
Energia S.A.
Closed joint-
stock company
Enel Trading Brazil S.A.
(Anteriormente Enel
Brazil Investimentos
Nordeste 86 S.A.)
Closed joint-
stock company
Av. das Nações
Unidas 14401,
torre B1 Aroe-
ira, 23° andar,
conjunto 231,
Torre B1 Aroeira,
Vila Gertrudes,
São Paulo
Praça Leoni Ra-
mos nº 01, Parte,
São Domingos,
Niterói, Rio de
Janeiro, Brazil.
Praça Leoni Ra-
mos nº 01, Parte,
São Domingos,
Niterói, Rio de
Janeiro, Brazil.
Praça Leoni
Ramos, nº 1,
Parte, São
Domingos.
Niterói, Rio de
Janeiro.
Avenida Oscar
Niemeyer, nº
2000. Bloco 01,
Sala 501, parte,
Aqwa Corporate,
Santo Cristo, Rio
de Janeiro
5,925,804
100.00%
100.00%
11.89%
Nicola Cotugno
58,299
100.00%
100.00%
0.28%
17,404
100.00%
100.00%
0.15%
729
51.00%
51.00%
0.01%
946
100.00%
100.00%
0.31%
The company’s purpose is wholesale and retail trade in energy and other unspeci-
fied products, import and export activities, management activities, such as related
products and services, as well as participation in other companies.
Sociedad sin consejo
de administración
Matteo de Zan
Chairman
Guilherme Gomes Lencastre
Vice Chairman
Mario Fernando
de Melo Santos
Nicola Cotugno
Aurelio Ricardo Bustilho
de Oliveira
Márcia Sandra Roque
Vieira Silva
Ana Claudia Gonçalves
Rebello
Gino Celentano"
Chairman
Guilherme Gomes Lencastre
Vice Chairman
Mário Fernando de Melo
Santos
Directors
Nicola Cotugno
Teobaldo José Cavalcante
Leal "
Chairman
Guilherme Gomes Lencastre
Vice Chairman
Mario Fernando de Melo
Santos
Directors
Antonio Basilio Pires de
Carvalho e Albuquerque
Aurelio Ricardo Bustilho
de Oliveira
Roberta Bonomi
Participation in the share capital of other companies and enterprises, in any
segment of the electricity sector or gas sector, including commercial compa-
nies or the provision of services to companies operating in said sectors, in Brazil
or abroad; provision of transmission, distribution, generation or marketing of
electrical energy and related activities, as well as the import, export and marke-
ting of natural gas in any physical state for own or third party use; and participa-
tion in tenders, projects and ventures for the services and activities mentioned
above.
The Company’s purpose is to participate in the share capital of other companies,
in Brazil or abroad, as well as the production, industrialization, assembly and trade
in general, including import and export, for its own marketing or b on behalf of
third parties of various products, and the provision of services in general for the
electric energy sector and others.
Sociedad sin concejo
de administración
Francisco Scroffa
The company’s purpose of to rent and manage equipment used for the
production of electrical energy of solar origin, energy efficiency, electrical
Sociedad sin consejo
infrastructure, and others, as well as the operation and maintenance activities
de administración
Francisco Scroffa
of these assets.
The implementation and provision of the public lighting services, including the
implementation, installation, recovery, modernization, efficiency, expansion,
operation, maintenance, and improvement of public lighting networks, under
Sociedad sin consejo
Carlos Eduardo Cardozo de
the terms of the Concession Contract to be signed with the Municipality of
de administración
Souza
Angra dos Reis, according to Public Tender No. 004/2020. published on March
6, 2020.
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to
US$ in accordance with International Accounting Standards
(2) Percentage of Enel Américas' direct and indirect economic participation through its subsidiaries.
298
Integrated Annual Report Enel Américas 2021
Company name
Legal nature
Address
Summary corporate purpose
Directors
Subscribed and
paid-up capital
(1) in US$
thousand
% Of Enel
Américas’
stake in the
% Of Enel
Américas’
stake in the
subsidiary as of
subsidiary as of
12.31.2020 (2)
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
Enel Distribución Goiás
Celg Distribuição S.A. -
company
Publicly traded
S.A.
Celg-D
Rua 2, Quadra
A-37, nº 505,
Jardim Goiás,
Goiânia, Goiás.
1,017,049
99.96%
99.96%
6.55%
The company's purpose is the technical and commercial exploration of electricity
distribution.
Enel Distribución Ceará
S.A.
S.A.)
COELCE (Companhia
Energética do Ceará
Publicly traded
company
Rua 2, Quadra
A-37, nº 505,
Jardim Goiás,
Goiânia, Goiás.
164,156
74.05%
74.05%
4.03%
Production, transmission, distribution and marketing of electrical energy, provi-
sion of correlated services granted or authorized to them and the development
of activities associated with the services, as well as commercia actions related to
those activities.
Enel Brazil S.A
Privately held
corporation
5,925,804
100.00%
100.00%
11.89%
Participation in the share capital of other companies and enterprises, in any
segment of the electricity sector or gas sector, including commercial compa-
nies or the provision of services to companies operating in said sectors, in Brazil
or abroad; provision of transmission, distribution, generation or marketing of
electrical energy and related activities, as well as the import, export and marke-
ting of natural gas in any physical state for own or third party use; and participa-
tion in tenders, projects and ventures for the services and activities mentioned
above.
Chairman
Guilherme Gomes Lencastre
Vice Chairman
Mario Fernando
de Melo Santos
Directors
Nicola Cotugno
Aurelio Ricardo Bustilho
de Oliveira
Márcia Sandra Roque
Vieira Silva
Ana Claudia Gonçalves
Rebello
Gino Celentano"
Chairman
Guilherme Gomes Lencastre
Vice Chairman
Mário Fernando de Melo
Santos
Directors
Nicola Cotugno
Teobaldo José Cavalcante
Leal "
Chairman
Guilherme Gomes Lencastre
Vice Chairman
Mario Fernando de Melo
Santos
Directors
Antonio Basilio Pires de
Carvalho e Albuquerque
Aurelio Ricardo Bustilho
de Oliveira
Roberta Bonomi
Chief Executive Officer/
legal representative
José Nunes de Almeida Neto
Marcia Sandra Roque Vieira
Silva
Nicola Cotugno
58,299
100.00%
100.00%
0.28%
17,404
100.00%
100.00%
0.15%
729
51.00%
51.00%
0.01%
The Company’s purpose is to participate in the share capital of other companies,
in Brazil or abroad, as well as the production, industrialization, assembly and trade
in general, including import and export, for its own marketing or b on behalf of
third parties of various products, and the provision of services in general for the
electric energy sector and others.
Sociedad sin concejo
de administración
Francisco Scroffa
The company’s purpose of to rent and manage equipment used for the
production of electrical energy of solar origin, energy efficiency, electrical
infrastructure, and others, as well as the operation and maintenance activities
of these assets.
Sociedad sin consejo
de administración
Francisco Scroffa
The implementation and provision of the public lighting services, including the
implementation, installation, recovery, modernization, efficiency, expansion,
operation, maintenance, and improvement of public lighting networks, under
the terms of the Concession Contract to be signed with the Municipality of
Angra dos Reis, according to Public Tender No. 004/2020. published on March
6, 2020.
Sociedad sin consejo
de administración
Carlos Eduardo Cardozo de
Souza
946
100.00%
100.00%
0.31%
The company’s purpose is wholesale and retail trade in energy and other unspeci-
fied products, import and export activities, management activities, such as related
products and services, as well as participation in other companies.
Sociedad sin consejo
de administración
Matteo de Zan
Av. das Nações
Unidas 14401,
torre B1 Aroe-
ira, 23° andar,
conjunto 231,
Torre B1 Aroeira,
Vila Gertrudes,
São Paulo
Praça Leoni Ra-
mos nº 01, Parte,
São Domingos,
Niterói, Rio de
Janeiro, Brazil.
Praça Leoni Ra-
mos nº 01, Parte,
São Domingos,
Niterói, Rio de
Janeiro, Brazil.
Praça Leoni
Ramos, nº 1,
Parte, São
Domingos.
Niterói, Rio de
Janeiro.
Avenida Oscar
Niemeyer, nº
2000. Bloco 01,
Sala 501, parte,
Aqwa Corporate,
Santo Cristo, Rio
de Janeiro
Enel X Brazil Brazil S.A
(Formerly Enel Soluçoes
S.A.)
Privately held
corporation
Central Generadora
Fotovoltaica São Fran-
cisco Ltda
Limited Com-
mercial company
established in
accordance with
the laws of the
Federative Repu-
blic of Brazil..
Luz de Angra
Energia S.A.
Closed joint-
stock company
Enel Trading Brazil S.A.
(Anteriormente Enel
Brazil Investimentos
Nordeste 86 S.A.)
Closed joint-
stock company
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to
US$ in accordance with International Accounting Standards
(2) Percentage of Enel Américas' direct and indirect economic participation through its subsidiaries.
Other Corporate Regulatory Information 299
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Chile
Company name
Legal nature
Address
Subscribed
and paid-up
capital in (1)US$
thousand
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2020 (2)
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
Energía y servicios
South América S.P.A.
Joint-stock com-
pany
Santa Rosa 76,
Santiago
12,121
Essa 2 S.P.A.
Joint-stock com-
pany
Santa Rosa 76,
Santiago
701,166
-
-
100.00%
0.02%
sources, either through their set up or through the acquisition of shares, rights
The company is managed by
or corporate participations in different entities; and (b) the provision of all kinds of
a sole manager: Ali Shakhtur
Ali Shaktur
100.00%
0.00%
sources, either through their set up or through the acquisition of shares, rights
The company is managed by
or corporate participations in different entities; and (b) the provision of all kinds of
a sole manager: Ali Shakhtur
Ali Shaktur
Investment in Chile and/or abroad, in all types of companies, corporations, invest-
ment vehicles or other entities, whose purpose is the generation, transmission, di-
stribution and/or commercialization of electricity from non-conventional renewable
services and advice in business development, engineering, construction, operation,
maintenance and, in general, any other related to the generation, transmission,
distribution and / or commercialization of electrical energy, in Chile and / or abroad.
Investment in Chile and/or abroad, in all types of companies, corporations, invest-
ment vehicles or other entities, whose purpose is the generation, transmission, di-
stribution and/or commercialization of electricity from non-conventional renewable
services and advice in business development, engineering, construction, operation,
maintenance and, in general, any other related to the generation, transmission,
distribution and / or commercialization of electrical energy, in Chile and / or abroad.
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to US$
in accordance with International Accounting Standards
(2) Percentage of Enel Américas' direct and indirect economic participation through its subsidiaries.
300
Integrated Annual Report Enel Américas 2021
Company name
Legal nature
Address
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
Investment in Chile and/or abroad, in all types of companies, corporations, invest-
ment vehicles or other entities, whose purpose is the generation, transmission, di-
stribution and/or commercialization of electricity from non-conventional renewable
sources, either through their set up or through the acquisition of shares, rights
or corporate participations in different entities; and (b) the provision of all kinds of
services and advice in business development, engineering, construction, operation,
maintenance and, in general, any other related to the generation, transmission,
distribution and / or commercialization of electrical energy, in Chile and / or abroad.
Investment in Chile and/or abroad, in all types of companies, corporations, invest-
ment vehicles or other entities, whose purpose is the generation, transmission, di-
stribution and/or commercialization of electricity from non-conventional renewable
sources, either through their set up or through the acquisition of shares, rights
or corporate participations in different entities; and (b) the provision of all kinds of
services and advice in business development, engineering, construction, operation,
maintenance and, in general, any other related to the generation, transmission,
distribution and / or commercialization of electrical energy, in Chile and / or abroad.
The company is managed by
a sole manager: Ali Shakhtur
Ali Shaktur
The company is managed by
a sole manager: Ali Shakhtur
Ali Shaktur
Chile
Subscribed
and paid-up
capital in (1)US$
thousand
% Of Enel
Américas’
stake in the
% Of Enel
Américas’
stake in the
subsidiary as of
subsidiary as of
12.31.2020 (2)
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
Energía y servicios
Joint-stock com-
Santa Rosa 76,
South América S.P.A.
pany
Santiago
12,121
100.00%
0.02%
Essa 2 S.P.A.
Joint-stock com-
Santa Rosa 76,
pany
Santiago
701,166
100.00%
0.00%
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to US$
in accordance with International Accounting Standards
(2) Percentage of Enel Américas' direct and indirect economic participation through its subsidiaries.
-
-
Other Corporate Regulatory Information 301
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Colombia
Company name
Legal nature
Address
Subscribed
and paid-up
capital (1) in US$
thousand
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2020 (2)
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
EMGESA S.A. E.S.P.
Private stock cor-
poration, Home
Utilities Company
Carrera 11 N°82-
76, piso 4 Bogotá,
D.C. Colombia
188,815
48.48%
48.48%
7.74%
Codensa S.A. E.S.P.
Private stock cor-
poration, Home
Utilities Company
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
50,133
48.30%
48.30%
4.90%
Enel Green Power Co-
lombia S.A.S ESP
Guayepo Solar S.A.S
Simplified joint-
stock company
and public servi-
ces company
Simplified joint-
stock company
Latamsolar Fotovoltaica
Fundación S.A.S.
Simplified joint-
stock company
Atlántico Photovoltaic
S.A.S. E.S.P.
Simplified joint-
stock company
Enel X Colombia S.A.S.
Simplified joint-
stock company
Sociedad Portuaria
Central Cartagena S.A.
Stock corporation
Inversora
Codensa S.A.S.
Joint-stock com-
pany simplificada
Bogotá ZE S.A.S
Joint-stock com-
pany simplificada
Usme ZE S.A.S
Joint-stock com-
pany simplificada
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
Fontibon ZE S.A.S.
Joint-stock com-
pany simplificada
Carrera 11 N°82-
76, piso 4 Bogotá,
D.C. Colombia
308,731
0.3
2
270
-
-
-
-
100.00%
1.94%
100.00%
0.00%
100.00%
0.00%
100.00%
0.00%
5,817
48.30%
48.30%
0.04%
2,063
48.47%
48.47%
0.01%
2
48.30%
48.30%
0.00%
12,349
48.30%
48.30%
0.08%
The company’s purpose is any lawful activity. In particular, it may carry out any
actions related to electric and sustainable mobility in Colombia and abroad.
Similarly, it can participate in public or private selection processes and incorporate
con Junta Directiva
La sociedad no cuenta
Mauricio Miranda Ojeda
2,552
9,617
-
-
48.30%
0.02%
48.30%
0.09%
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to
US$ in accordance with International Accounting Standards
(2) Percentage of economic participation of Enel Américas directly and indirectly through its subsidiaries.
302
Integrated Annual Report Enel Américas 2021
Summary corporate purpose
Directors
Chief Executive Officer/legal
representative
Emgesa's main purpose is the generation and commercialization of electrical
energy under the terms of Law No. 143 of 1994 and the guidelines that regulate,
add, modify or repeal it, and all kinds of activities related directly, indirectly, com-
plementary or auxiliary to the business of marketing fuel gas.
The company's main purpose is the distribution and commercialization of electri-
cal energy, as well as all related, linked, complementary and connected activities
associated with the distribution and commercialization of energy, carrying out
works, designs and consulting services in electrical engineering and the commer-
cialization of products for the benefit of customers and third parties.
Andrés Caldas Rico
Lucio Rubio Díaz
José Antonio Vargas Lleras
Luisa Fernanda
Lafaurie Rivera
Juan Ricardo Ortega López Á
Álvaro Villasante Losada
Martha Veleño Quintero"
Andrés Caldas Rico
José Antonio Vargas Lleras
Lucio Rubio Díaz
Adriana Córdoba Alvarado
Juan Ricardo Sarmiento
Luis Javier Castro Lachner
Andrés López Valderrama
Lucio Rubio
Francesco Bertoli
The company's main purpose is the generation and commercialization of electrical
energy (the activities of the literals in the terms of Laws 143 and 142 of 1994 and
the regulations that modify or replace them.
Ali Ahmed Shakhtur Said
Leonardo Soares Walter
Adrián Vasile Dugulan
Adrian Dugulan
The company's corporate purpose is the development of generation projects
The company does not have a
Board of Directors
Adrian Dugulan
using renewable sources.
The company's corporate purpose is the development of generation projects
The company does not have a
Board of Directors
Adrian Dugulan
using renewable sources.
The company's corporate purpose is the development of generation projects
The company does not have a
Board of Directors
Adrian Dugulan
using renewable sources.
a) Carry out public lighting projects for the modernizations, management, ope-
ration and maintenance, expansions, remote management, inventory collection,
photometric designs, auditing, among others; b) Develop electrical engineering
projects of low, medium and high voltage, special lighting projects, architectural
lighting and Christmas lighting, energy storage projects and renewable energies
c) Design, develop, maintain, build and assemble all types of electrical installations
in industrial and / or commercial and / or residential areas and / or free zones. d)
Commercialize electrical materials, provide conceptual, basic, and detailed engi-
neering services, such as consultancies, studies, auditing, and project supervision;
development and sale of renewable energy projects, energy intelligence software,
operation, and maintenance of utility systems; "
The company’s main purpose is the following activity: investment, construction,
and maintenance of docks and public or private ports, their management and ope-
ration, the development and operation of multipurpose ports, in accordance with
the law, among others.
Investment in activities of domestic energy utilities, especially the acquisition of
shares of any energy utility company, or in any other company that invests in public
services whose main purpose is the domestic public service of electric energy
pursuant to the definition established in Law 142 of 1994, or in any other company
that invests in utilities whose main purpose is the domestic public service of
electric energy
Lucio Rubio Díaz
Michele Di Murro"
Carlos Mario Restrepo Molina
Carlos Mario Molina
Eugenio Calderón López
Lorena Rojas
Fernando Javier
Gutiérrez Medina
Herwin Villamil
La sociedad no cuenta
con Junta Directiva
Francesco Bertoli
companies or participate in them.
The company’s purpose is any lawful activity. In particular, it may: i) Subscribe and
develop the concession contract(s) that are subject of the abbreviated selection
process No. TMSA-SAM-14-2020 of Transmilenio S.A. ii) Subscribe and execute
any Concession Contract in Colombia and abroad iii) Perform any action related to
electric and sustainable mobility in Colombia and abroad; iv) Carry out any activity
related to public transport in Colombia and abroad.
The company’s purpose is any lawful activity. In particular, it may carry out i) Sub-
scribe and execute the concession contract(s) that are subject of the abbreviated
selection process No. TMSA-SAM-14-2020 of Transmilenio S.A. ii) Subscribe and
execute any Concession Contract in Colombia and abroad iii) Perform any action
related to electric and sustainable mobility in Colombia and abroad; iv) Carry out
any activity related to public transport in Colombia and abroad.
Mauricio Miranda Ojeda
Felipe Torres Parra
Dora Vera Pérez
Mauricio Miranda Ojeda
Carlos Mario Restrepo
Diego Valderrama
Mauricio Miranda
Diego Rolando Valderrama
Colombia
Subscribed
and paid-up
capital (1) in US$
thousand
% Of Enel
Américas’
stake in the
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2020 (2)
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
EMGESA S.A. E.S.P.
Private stock cor-
poration, Home
Utilities Company
Carrera 11 N°82-
76, piso 4 Bogotá,
D.C. Colombia
188,815
48.48%
48.48%
7.74%
Codensa S.A. E.S.P.
50,133
48.30%
48.30%
4.90%
Private stock cor-
poration, Home
Utilities Company
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
100.00%
0.00%
100.00%
0.00%
100.00%
0.00%
Enel Green Power Co-
lombia S.A.S ESP
Guayepo Solar S.A.S
Simplified joint-
stock company
and public servi-
ces company
Simplified joint-
stock company
Latamsolar Fotovoltaica
Fundación S.A.S.
Simplified joint-
stock company
Atlántico Photovoltaic
S.A.S. E.S.P.
Simplified joint-
stock company
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
Carrera 11
N°82-76, piso
4 Bogotá, D.C.
Colombia
0.3
2
270
2,552
9,617
-
-
-
-
-
-
Enel X Colombia S.A.S.
Simplified joint-
stock company
5,817
48.30%
48.30%
0.04%
Sociedad Portuaria
Central Cartagena S.A.
Stock corporation
2,063
48.47%
48.47%
0.01%
Inversora
Codensa S.A.S.
Joint-stock com-
pany simplificada
2
48.30%
48.30%
0.00%
Bogotá ZE S.A.S
Joint-stock com-
pany simplificada
12,349
48.30%
48.30%
0.08%
Usme ZE S.A.S
Joint-stock com-
pany simplificada
Fontibon ZE S.A.S.
Joint-stock com-
pany simplificada
Carrera 11 N°82-
76, piso 4 Bogotá,
D.C. Colombia
48.30%
0.02%
48.30%
0.09%
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to
US$ in accordance with International Accounting Standards
(2) Percentage of economic participation of Enel Américas directly and indirectly through its subsidiaries.
Company name
Legal nature
Address
Summary corporate purpose
Directors
Chief Executive Officer/legal
representative
Emgesa's main purpose is the generation and commercialization of electrical
energy under the terms of Law No. 143 of 1994 and the guidelines that regulate,
add, modify or repeal it, and all kinds of activities related directly, indirectly, com-
plementary or auxiliary to the business of marketing fuel gas.
The company's main purpose is the distribution and commercialization of electri-
cal energy, as well as all related, linked, complementary and connected activities
associated with the distribution and commercialization of energy, carrying out
works, designs and consulting services in electrical engineering and the commer-
cialization of products for the benefit of customers and third parties.
Andrés Caldas Rico
Lucio Rubio Díaz
José Antonio Vargas Lleras
Luisa Fernanda
Lafaurie Rivera
Juan Ricardo Ortega López Á
Álvaro Villasante Losada
Martha Veleño Quintero"
Andrés Caldas Rico
José Antonio Vargas Lleras
Lucio Rubio Díaz
Adriana Córdoba Alvarado
Juan Ricardo Sarmiento
Luis Javier Castro Lachner
Andrés López Valderrama
Lucio Rubio
Francesco Bertoli
308,731
100.00%
1.94%
The company's main purpose is the generation and commercialization of electrical
energy (the activities of the literals in the terms of Laws 143 and 142 of 1994 and
the regulations that modify or replace them.
Ali Ahmed Shakhtur Said
Leonardo Soares Walter
Adrián Vasile Dugulan
Adrian Dugulan
The company's corporate purpose is the development of generation projects
using renewable sources.
The company does not have a
Board of Directors
Adrian Dugulan
The company's corporate purpose is the development of generation projects
using renewable sources.
The company does not have a
Board of Directors
Adrian Dugulan
The company's corporate purpose is the development of generation projects
using renewable sources.
The company does not have a
Board of Directors
Adrian Dugulan
a) Carry out public lighting projects for the modernizations, management, ope-
ration and maintenance, expansions, remote management, inventory collection,
photometric designs, auditing, among others; b) Develop electrical engineering
projects of low, medium and high voltage, special lighting projects, architectural
lighting and Christmas lighting, energy storage projects and renewable energies
c) Design, develop, maintain, build and assemble all types of electrical installations
in industrial and / or commercial and / or residential areas and / or free zones. d)
Commercialize electrical materials, provide conceptual, basic, and detailed engi-
neering services, such as consultancies, studies, auditing, and project supervision;
development and sale of renewable energy projects, energy intelligence software,
operation, and maintenance of utility systems; "
Lucio Rubio Díaz
Carlos Mario Restrepo Molina
Michele Di Murro"
Carlos Mario Molina
The company’s main purpose is the following activity: investment, construction,
and maintenance of docks and public or private ports, their management and ope-
ration, the development and operation of multipurpose ports, in accordance with
the law, among others.
Eugenio Calderón López
Lorena Rojas
Fernando Javier
Gutiérrez Medina
Herwin Villamil
Investment in activities of domestic energy utilities, especially the acquisition of
shares of any energy utility company, or in any other company that invests in public
services whose main purpose is the domestic public service of electric energy
pursuant to the definition established in Law 142 of 1994, or in any other company
that invests in utilities whose main purpose is the domestic public service of
electric energy
The company’s purpose is any lawful activity. In particular, it may carry out any
actions related to electric and sustainable mobility in Colombia and abroad.
Similarly, it can participate in public or private selection processes and incorporate
companies or participate in them.
The company’s purpose is any lawful activity. In particular, it may: i) Subscribe and
develop the concession contract(s) that are subject of the abbreviated selection
process No. TMSA-SAM-14-2020 of Transmilenio S.A. ii) Subscribe and execute
any Concession Contract in Colombia and abroad iii) Perform any action related to
electric and sustainable mobility in Colombia and abroad; iv) Carry out any activity
related to public transport in Colombia and abroad.
The company’s purpose is any lawful activity. In particular, it may carry out i) Sub-
scribe and execute the concession contract(s) that are subject of the abbreviated
selection process No. TMSA-SAM-14-2020 of Transmilenio S.A. ii) Subscribe and
execute any Concession Contract in Colombia and abroad iii) Perform any action
related to electric and sustainable mobility in Colombia and abroad; iv) Carry out
any activity related to public transport in Colombia and abroad.
La sociedad no cuenta
con Junta Directiva
Francesco Bertoli
La sociedad no cuenta
con Junta Directiva
Mauricio Miranda Ojeda
Mauricio Miranda Ojeda
Felipe Torres Parra
Dora Vera Pérez
Mauricio Miranda Ojeda
Carlos Mario Restrepo
Diego Valderrama
Mauricio Miranda
Diego Rolando Valderrama
Other Corporate Regulatory Information 303
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Costa Rica
Company name
Legal nature
Address
Subscribed
and paid-up
capital (1) in US$
thousand
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2020 (2)
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
Summary corporate purpose
Directors
Chief Executive Officer/legal
representative
PH Chucas S.A.
Stock corporation
PH Don Pedro S.A.
Stock corporation
PH Río Volcán S.A.
Stock corporation
Energía Global
Operaciones S.R.L.
Limited liability
company
Enel Green Power
Costa Rica S.A.
Stock corporation
San José, San
Rafael de Escazú,
200 Sur del
Parqueo de
Cinemark, Centro
Comercial
Multiplaza,
Edificio Terraforte,
primer piso.
San José, San
Rafael de Escazú,
200 Sur del
Parqueo de
Cinemark, Centro
Comercial
Multiplaza,
Edificio Terraforte,
primer piso.
San José, San
Rafael de Escazú,
200 Sur del
Parqueo de
Cinemark, Centro
Comercial
Multiplaza, Edificio
Terraforte, primer
piso, Costa Rica
San José, San
Rafael de Escazú,
200 Sur del
Parqueo de
Cinemark, Centro
Comercial
Multiplaza, Edificio
Terraforte, primer
piso, Costa Rica.
San José, San
Rafael de Escazú,
200 Sur del
Parqueo de
Cinemark, Centro
Comercial
Multiplaza, Edificio
Terraforte, primer
piso.
169,323
1
1
15
122,487
-
-
-
-
-
99.50%
0.22%
Generation and commercialization of electrical energy, generation plants and
project, build, maintain, commercially exploit electricity generating plants
Karla Rodríguez Monge
Mauricio Garita Campos
Dunia Alfaro Arce
Karla Rodriguez Monge
99,46%
0.05%
Development and operation of a hydroelectric project in San Miguel de Sarapiqui
Karla Rodriguez Monge
99.15%
0.08%
Develop and operate a hydroelectric project in San Miguel de Sarapiqui
Karla Rodriguez Monge
100.00%
0.00%
neration plants of all kinds, including hydroelectric power plants, as well as power
Karla Rodríguez Monge
Karla Rodriguez Monge
Develop, plan, design, direct, manage, build, own and operate electric power ge-
generation and others.
100.00%
0.76%
Design, market and build systems for the conservation of electrical energy in all
Karla Rodríguez Monge
types of public or private buildings, energy production for industrial and agricultu-
Mauricio Garita Campos
Karla Rodriguez Monge
ral commercial purposes
Dunia Alfaro Arce
Karla Rodríguez Monge
Mauricio Garita Campos
Dunia Alfaro Arce
Karla Rodríguez Monge
Mauricio Garita Campos
Dunia Alfaro Arce
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to
US$ in accordance with International Accounting Standards
(2) Percentage of economic participation of Enel Américas directly and indirectly through its subsidiaries.
304
Integrated Annual Report Enel Américas 2021
Costa Rica
Subscribed
and paid-up
capital (1) in US$
thousand
% Of Enel
Américas’
stake in the
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2020 (2)
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
Company name
Legal nature
Address
Summary corporate purpose
Directors
Chief Executive Officer/legal
representative
PH Chucas S.A.
Stock corporation
Cinemark, Centro
169,323
99.50%
0.22%
Generation and commercialization of electrical energy, generation plants and
project, build, maintain, commercially exploit electricity generating plants
Karla Rodríguez Monge
Mauricio Garita Campos
Dunia Alfaro Arce
Karla Rodriguez Monge
PH Don Pedro S.A.
Stock corporation
Cinemark, Centro
99,46%
0.05%
Development and operation of a hydroelectric project in San Miguel de Sarapiqui
PH Río Volcán S.A.
Stock corporation
Cinemark, Centro
99.15%
0.08%
Develop and operate a hydroelectric project in San Miguel de Sarapiqui
Karla Rodríguez Monge
Mauricio Garita Campos
Dunia Alfaro Arce
Karla Rodriguez Monge
Karla Rodríguez Monge
Mauricio Garita Campos
Dunia Alfaro Arce
Karla Rodriguez Monge
Energía Global
Operaciones S.R.L.
Limited liability
company
15
100.00%
0.00%
Develop, plan, design, direct, manage, build, own and operate electric power ge-
neration plants of all kinds, including hydroelectric power plants, as well as power
generation and others.
Karla Rodríguez Monge
Karla Rodriguez Monge
Enel Green Power
Costa Rica S.A.
Stock corporation
Cinemark, Centro
122,487
100.00%
0.76%
Design, market and build systems for the conservation of electrical energy in all
types of public or private buildings, energy production for industrial and agricultu-
ral commercial purposes
Karla Rodríguez Monge
Mauricio Garita Campos
Dunia Alfaro Arce
Karla Rodriguez Monge
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to
US$ in accordance with International Accounting Standards
(2) Percentage of economic participation of Enel Américas directly and indirectly through its subsidiaries.
San José, San
Rafael de Escazú,
200 Sur del
Parqueo de
Comercial
Multiplaza,
Edificio Terraforte,
primer piso.
San José, San
Rafael de Escazú,
200 Sur del
Parqueo de
Comercial
Multiplaza,
Edificio Terraforte,
primer piso.
San José, San
Rafael de Escazú,
200 Sur del
Parqueo de
Comercial
Multiplaza, Edificio
Terraforte, primer
piso, Costa Rica
San José, San
Rafael de Escazú,
200 Sur del
Parqueo de
Cinemark, Centro
Comercial
Multiplaza, Edificio
Terraforte, primer
piso, Costa Rica.
San José, San
Rafael de Escazú,
200 Sur del
Parqueo de
Comercial
Multiplaza, Edificio
Terraforte, primer
piso.
1
1
-
-
-
-
-
Other Corporate Regulatory Information 305
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Guatemala
Company name
Legal nature
Address
Subscribed
and paid-up
capital (1) in US$
thousand
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2020 (2)
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
Summary corporate purpose
Directors
Chief Executive Officer/legal
representative
Generadora de Occi-
dente Ltda.
Limited liability
company
Generadora Montecri-
sto S.A.
Stock corpora-
tion.
Renovables de Guate-
mala S.A.
Stock corpora-
tion.
Tecnoguat S.A.
Stock corpora-
tion.
Transmisora de Energía
Renovable S.A.
Stock corpora-
tion.
Enel Green Power Gua-
temala S.A.
Stock corpora-
tion.
Diagonal 6, 10-65
zona 10. Centro
Gerencial Las
Margaritas, Torre
I, 8° nivel, oficina
801, ciudad de
Guatemala
Diagonal 6, 10-65
zona 10. Centro
Gerencial Las
Margaritas, Torre
I, 8° nivel, oficina
801, ciudad de
Guatemala.
Diagonal 6, 10-65
zona 10. Centro
Gerencial Las
Margaritas, Torre
I, 8° nivel, oficina
801, ciudad de
Guatemala.
Diagonal 6, 10-65
zona 10. Centro
Gerencial Las
Margaritas, Torre
I, 8° nivel, oficina
801, ciudad de
Guatemala.
Diagonal 6, 10-65
zona 10. Centro
Gerencial Las
Margaritas, Torre
I, 8° nivel, oficina
801, ciudad de
Guatemala
Diagonal 6, 10-65
zona 10. Centro
Gerencial Las
Margaritas, Torre
I, 8° nivel, oficina
801, ciudad de
Guatemala.
2,063
501
236,307
4,044
29,815
8,717
-
-
-
-
-
-
100.00%
0.49%
Develop, plan, design, direct, manage, build, own and operate electric power
generation plants of all kinds, including hydroelectric power plants, as well as
Sole manager y
Representante Legal
José Antonio Sánchez Boche
power generation and others.
José Antonio Sánchez Boche "
100.00%
0.14%
100.00%
2.28%
Generation, marketing, supply, sale, promotion, transmission, and distribution
of electrical energy, as well as the implementation, formalization and signing
of contracts to provide electricity supply services; specifically, the company’s
purpose is to develop, plan, design, direct, build, own and operate a generating
plant at kilometer one hundred and ninety-two and others as specified in the
corporate deed.
Generation, marketing, supply, sale, promotion, transmission, and distribution
of electrical energy, as well as the implementation, formalization and signing
of contracts to provide electricity supply services; specifically, the company’s
purpose is to develop, plan, design, direct, build, own and operate a generating
plant at kilometer one hundred and ninety-two and others as specified in the
corporate deed.
Sole Manager and Legal
Representative
José Antonio Sánchez Boche "
José Antonio Sánchez Boche
Sole Manager and Legal
Representative
José Antonio Sánchez Boche
José Antonio Sánchez Boche
75.00%
0.11%
Production and generation of electrical energy, as well as all the activities related
and necessary to carry out this single corporate purpose. And others.
Sole Manager and Legal
Representative
José Antonio Sánchez Boche
José Antonio Sánchez Boche
100.00%
0.23%
facilities for the transmission of electrical energy, including the implementation,
Representative
José Antonio Sánchez Boche
Transmission, transformation, and distribution of electrical energy, by private
transmission lines or the interconnected national system, as well as the
construction and maintenance of transmission lines and substations and
Sole Manager and Legal
formalization, and subscription of contracts in order to provide transmission and
José Antonio Sánchez Boche
transport services of electrical energy and others that appear in the corporate
deed.
100.00%
-0.01%
Commercialize, buy and sell blocks of electrical energy as an intermediary,
contract, manage, and negotiate electricity contracts of all kinds.
Sole Manager and Legal
Representative
José Antonio Sánchez Boche
José Antonio Sánchez Boche
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to
US$ in accordance with International Accounting Standards
(2) Percentage of economic participation of Enel Américas directly and indirectly through its subsidiaries.
306
Integrated Annual Report Enel Américas 2021
Guatemala
Subscribed
and paid-up
capital (1) in US$
thousand
% Of Enel
Américas’
stake in the
% Of Enel
Américas’
stake in the
subsidiary as of
subsidiary as of
12.31.2020 (2)
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
Company name
Legal nature
Address
Summary corporate purpose
Directors
Chief Executive Officer/legal
representative
Generadora de Occi-
Limited liability
dente Ltda.
company
2,063
100.00%
0.49%
Develop, plan, design, direct, manage, build, own and operate electric power
generation plants of all kinds, including hydroelectric power plants, as well as
power generation and others.
Sole manager y
Representante Legal
José Antonio Sánchez Boche "
José Antonio Sánchez Boche
Generadora Montecri-
Stock corpora-
sto S.A.
tion.
501
100.00%
0.14%
Renovables de Guate-
Stock corpora-
mala S.A.
tion.
236,307
100.00%
2.28%
Generation, marketing, supply, sale, promotion, transmission, and distribution
of electrical energy, as well as the implementation, formalization and signing
of contracts to provide electricity supply services; specifically, the company’s
purpose is to develop, plan, design, direct, build, own and operate a generating
plant at kilometer one hundred and ninety-two and others as specified in the
corporate deed.
Generation, marketing, supply, sale, promotion, transmission, and distribution
of electrical energy, as well as the implementation, formalization and signing
of contracts to provide electricity supply services; specifically, the company’s
purpose is to develop, plan, design, direct, build, own and operate a generating
plant at kilometer one hundred and ninety-two and others as specified in the
corporate deed.
Sole Manager and Legal
Representative
José Antonio Sánchez Boche "
José Antonio Sánchez Boche
Sole Manager and Legal
Representative
José Antonio Sánchez Boche
José Antonio Sánchez Boche
Tecnoguat S.A.
Stock corpora-
tion.
4,044
75.00%
0.11%
Production and generation of electrical energy, as well as all the activities related
and necessary to carry out this single corporate purpose. And others.
Sole Manager and Legal
Representative
José Antonio Sánchez Boche
José Antonio Sánchez Boche
Transmisora de Energía
Stock corpora-
Renovable S.A.
tion.
29,815
100.00%
0.23%
Transmission, transformation, and distribution of electrical energy, by private
transmission lines or the interconnected national system, as well as the
construction and maintenance of transmission lines and substations and
facilities for the transmission of electrical energy, including the implementation,
formalization, and subscription of contracts in order to provide transmission and
transport services of electrical energy and others that appear in the corporate
deed.
Sole Manager and Legal
Representative
José Antonio Sánchez Boche
José Antonio Sánchez Boche
Enel Green Power Gua-
Stock corpora-
temala S.A.
tion.
8,717
100.00%
-0.01%
Commercialize, buy and sell blocks of electrical energy as an intermediary,
contract, manage, and negotiate electricity contracts of all kinds.
Sole Manager and Legal
Representative
José Antonio Sánchez Boche
José Antonio Sánchez Boche
Diagonal 6, 10-65
zona 10. Centro
Gerencial Las
Margaritas, Torre
I, 8° nivel, oficina
801, ciudad de
Guatemala
Diagonal 6, 10-65
zona 10. Centro
Gerencial Las
Margaritas, Torre
I, 8° nivel, oficina
801, ciudad de
Guatemala.
Diagonal 6, 10-65
zona 10. Centro
Gerencial Las
Margaritas, Torre
I, 8° nivel, oficina
801, ciudad de
Guatemala.
Diagonal 6, 10-65
zona 10. Centro
Gerencial Las
Margaritas, Torre
I, 8° nivel, oficina
801, ciudad de
Guatemala.
Diagonal 6, 10-65
zona 10. Centro
Gerencial Las
Margaritas, Torre
I, 8° nivel, oficina
801, ciudad de
Guatemala
Diagonal 6, 10-65
zona 10. Centro
Gerencial Las
Margaritas, Torre
I, 8° nivel, oficina
801, ciudad de
Guatemala.
-
-
-
-
-
-
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to
US$ in accordance with International Accounting Standards
(2) Percentage of economic participation of Enel Américas directly and indirectly through its subsidiaries.
Other Corporate Regulatory Information 307
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Panamá
Company name
Legal nature
Address
Subscribed
and paid-up
capital (1) in US$
thousand
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2020 (2)
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
Summary corporate purpose
Directors
Chief Executive Officer/legal
representative
309,458
-
50.06%
3.00%
Electric power generation-hydroelectric concession
Maximilian Winter
11,010
-
100.00%
0.09%
Electric power generation
Chairman
Maximilian Winter Bassett
Maximilian Winter
10
-
100.00%
0.00%
Project development. Advisory services, consulting and design and development
Chairman
of renewable energy projects
Maximilian Winter Bassett
Maximilian Winter
97
-
100.00%
0.00%
Advisory services, consulting, and development of renewable energy projects
Chairman
Maximilian Winter Bassett
Maximilian Winter
10
-
100.00%
0.00%
Advisory services, consulting, and development of renewable energy projects
Maximilian Winter
Directors
Antonio Scala
Bruno Riga
Pablo Pescarmona
Federico Alfaro Boyd
Rodolfo Moreno
Chairman and legal repre-
sentative
Antonio Scala
Secretary
Jesse Ann Duarte
Vice Secetary
Daniel Muñoz Jimenez
Treasurer
Jorge Calderón"
Sole manager
Maximilian Winter Bassett
Stand in manager
Jesse Ann Duarte Chang
Secretary
Jesse Ann Duarte Chang
Treasurer
Jorge Calderón
Manager
Maximilian Winter Bassett
Stand in manager
Jesse Ann Duarte Chang
Secretary
Jesse Ann Duarte Chang
Treasurer
Jorge Calderón
Sole manager
Maximilian Winter Bassett
Administradora suplente
Jesse Ann Duarte Chang
Secretary
Jesse Ann Duarte Chang
Treasurer
Jorge Calderón
Sole manager
Maximilian Winter Bassett
Chairman
Maximilian Winter Bassett
Secretary
Jesse Ann Duarte Chang
Treasurer
Jorge Calderón
Enel Fortuna S.A.
Stock corporation
Enel Solar S.R.L
Limited liability
company
Generadora Eólica
Alto Pacora S.R.L.
Limited liability
company
Generadora Solar
Tolé S.R.L.
Limited liability
company
Llano Sánchez Solar
Power One S.R.L.
Limited liability
company
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No. 3
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No.
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No. 3
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No.
Calle 64 y Calle
50 San Francisco,
casa #29,
Panamá,
República de
Panamá
308
Integrated Annual Report Enel Américas 2021
Panamá
Subscribed
and paid-up
capital (1) in US$
thousand
% Of Enel
Américas’
stake in the
% Of Enel
Américas’
stake in the
subsidiary as of
subsidiary as of
12.31.2020 (2)
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
Company name
Legal nature
Address
Summary corporate purpose
Directors
Chief Executive Officer/legal
representative
Enel Fortuna S.A.
Stock corporation
309,458
-
50.06%
3.00%
Electric power generation-hydroelectric concession
Maximilian Winter
Directors
Antonio Scala
Bruno Riga
Pablo Pescarmona
Federico Alfaro Boyd
Rodolfo Moreno
Chairman and legal repre-
sentative
Antonio Scala
Secretary
Jesse Ann Duarte
Vice Secetary
Daniel Muñoz Jimenez
Treasurer
Jorge Calderón"
Sole manager
Maximilian Winter Bassett
Stand in manager
Jesse Ann Duarte Chang
Enel Solar S.R.L
Limited liability
company
11,010
-
100.00%
0.09%
Electric power generation
Chairman
Maximilian Winter Bassett
Maximilian Winter
Generadora Eólica
Alto Pacora S.R.L.
Limited liability
company
10
-
100.00%
0.00%
Project development. Advisory services, consulting and design and development
of renewable energy projects
Chairman
Maximilian Winter Bassett
Maximilian Winter
Generadora Solar
Tolé S.R.L.
Limited liability
company
97
-
100.00%
0.00%
Advisory services, consulting, and development of renewable energy projects
Chairman
Maximilian Winter Bassett
Maximilian Winter
Secretary
Jesse Ann Duarte Chang
Treasurer
Jorge Calderón
Sole manager
Maximilian Winter Bassett
Administradora suplente
Jesse Ann Duarte Chang
Secretary
Jesse Ann Duarte Chang
Treasurer
Jorge Calderón
Manager
Maximilian Winter Bassett
Stand in manager
Jesse Ann Duarte Chang
Llano Sánchez Solar
Power One S.R.L.
Limited liability
company
10
-
100.00%
0.00%
Advisory services, consulting, and development of renewable energy projects
Secretary
Jesse Ann Duarte Chang
Treasurer
Jorge Calderón
Sole manager
Maximilian Winter Bassett
Chairman
Maximilian Winter Bassett
Secretary
Jesse Ann Duarte Chang
Treasurer
Jorge Calderón
Maximilian Winter
Other Corporate Regulatory Information 309
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No. 3
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No.
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No. 3
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No.
Calle 64 y Calle
50 San Francisco,
casa #29,
Panamá,
República de
Panamá
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Company name
Legal nature
Address
Subscribed
and paid-up
capital (1) in US$
thousand
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2020 (2)
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
Summary corporate purpose
Directors
Chief Executive Officer/legal
representative
Generadora Solar
Austral S.A.
Stock corporation
Jaquito Solar 10MW S.A. Stock corporation
Progreso Solar
20 MW S.A.
Stock corporation
Generadora Solar
El Puerto S.A.
Stock corporation
Generadora Solar
de Occidente S.A.
Stock corporation
Enel Green Power
Panamá S.R.L.
Limited liability
company
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No. 3
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No. 3
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No. 3
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No. 3
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No. 3
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No. 3
3,485
1,961
3,846
10
10
-
-
-
-
-
100.00%
0.02%
Electric power generation
Maximilian Winter
100.00%
0.02%
Electric power generation
Maximilian Winter
100.00%
0.03%
Electric power generation
Maximilian Winter
100.00%
0.00%
Electric power generation
Maximilian Winter
100.00%
0.00%
Electric power generation
Maximilian Winter
91,275
-
100.00%
0.27%
Advisory services, consulting, design of renewable energy generation projects,
Chairman
business training, consulting in the area of electric power generation
Maximilian Winter Bassett
Maximilian Winter
Director and Chairman
Bruno Riga
Director and Treasurer
Jorge Calderón
Director
Maximilian Winter
Secretary
Jesse Duarte
Director and Chairman
Bruno Riga
Director and Treasurer
Jorge Calderón
Director
Maximilian Winter
Secretary
Jesse Duarte
Director and Chairman
Bruno Riga
Director and Treasurer
Jorge Calderón
Director
Maximilian Winter
Secretary
Jesse Duarte
Director and Chairman
Bruno Riga
Director and Treasurer
Jorge Calderón
Director
Maximilian Winter
Secretary
Jesse Duarte
Director and Chairman
Bruno Riga
Director and Treasurer
Jorge Calderón
Director
Maximilian Winter
Secretary
Jesse Duarte
Sole manager
Maximilian Winter Bassett
Administrador suplente
Jesse Ann Duarte Chang
Secretary
Jesse Ann Duarte Chang
Treasurer
Jorge Calderón
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to
US$ in accordance with International Accounting Standards
(2) Percentage of economic participation of Enel Américas directly and indirectly through its subsidiaries.
310
Integrated Annual Report Enel Américas 2021
-
-
-
-
-
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No. 3
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No. 3
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No. 3
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No. 3
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No. 3
República de
Panamá, Ciudad
de Panamá,
Corregimiento
de Bella Vista,
Avenida Aquilino
de la Guardia, PH
Marbella Office
Plaza, Piso No. 3
10
10
Generadora Solar
de Occidente S.A.
Stock corporation
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to
US$ in accordance with International Accounting Standards
(2) Percentage of economic participation of Enel Américas directly and indirectly through its subsidiaries.
Company name
Legal nature
Address
Summary corporate purpose
Directors
Chief Executive Officer/legal
representative
Subscribed
and paid-up
capital (1) in US$
thousand
% Of Enel
Américas’
stake in the
% Of Enel
Américas’
stake in the
subsidiary as of
subsidiary as of
12.31.2020 (2)
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of the
Parent Company
Generadora Solar
Austral S.A.
Stock corporation
3,485
100.00%
0.02%
Electric power generation
Jaquito Solar 10MW S.A. Stock corporation
1,961
100.00%
0.02%
Electric power generation
Progreso Solar
20 MW S.A.
Stock corporation
3,846
100.00%
0.03%
Electric power generation
Generadora Solar
El Puerto S.A.
Stock corporation
100.00%
0.00%
Electric power generation
Maximilian Winter
Maximilian Winter
Maximilian Winter
Maximilian Winter
Director and Chairman
Bruno Riga
Director and Treasurer
Jorge Calderón
Director
Maximilian Winter
Secretary
Jesse Duarte
Director and Chairman
Bruno Riga
Director and Treasurer
Jorge Calderón
Director
Maximilian Winter
Secretary
Jesse Duarte
Director and Chairman
Bruno Riga
Director and Treasurer
Jorge Calderón
Director
Maximilian Winter
Secretary
Jesse Duarte
Director and Chairman
Bruno Riga
Director and Treasurer
Jorge Calderón
Director
Maximilian Winter
Secretary
Jesse Duarte
Director and Chairman
Bruno Riga
Director and Treasurer
Jorge Calderón
Enel Green Power
Panamá S.R.L.
Limited liability
company
91,275
-
100.00%
0.27%
Advisory services, consulting, design of renewable energy generation projects,
business training, consulting in the area of electric power generation
Chairman
Maximilian Winter Bassett
Maximilian Winter
100.00%
0.00%
Electric power generation
Maximilian Winter
Director
Maximilian Winter
Secretary
Jesse Duarte
Sole manager
Maximilian Winter Bassett
Administrador suplente
Jesse Ann Duarte Chang
Secretary
Jesse Ann Duarte Chang
Treasurer
Jorge Calderón
Other Corporate Regulatory Information 311
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Peru
Company name
Legal nature
Address
Subscribed and
paid-up capital (1) in
US$ thousand
% Of Enel Américas’
stake in the
subsidiary as of
12.31.2020 (2)
% Of Enel Américas’
stake in the
subsidiary as of
12.31.2021 (2)
the individual
Summary corporate purpose
Directors
Chief Executive Officer/legal
representative
% Represented
by this
investment on
assets of
the Parent
Company
587,218
83.60%
83.60%
3,51%
It may also carry out actions of any other nature related or conducive
Directors
Rigoberto Novoa Velásquez
In general, activities typical of electrical energy generation.
to its main corporate purpose.
21,085
96.50%
96.50%
The main purpose of the company is to engage in the
0.66%
generation of electricity and natural gas processing, in
accordance with the provisions of current legislation.
ViceChairman
Guillermo Martín Lozada Pozo
Rigoberto Novoa Velásquez
66,696
66.88%
66.88%
0.62%
energy, may carry out all the actions and celebrate all the
Does not apply
Rigoberto Novoa Velásquez
Generation, commercialization, and transmission of electrical
contracts that Peruvian law allows for such purposes.
1,985
2,000
1.011
-
-
-
100.00%
100.00%
100.00%
0.03%
Production and sale of electricity from renewable sources
Does not apply
Claudio Eduardo
Helfmann Soto
-0.18%
Production and sale of electricity from renewable sources
Does not apply
Rigoberto Novoa Velásquez
0.01%
Production and sale of electricity from renewable sources
Does not apply
Claudio Eduardo
Helfmann Soto
133,152
83.15%
83.15%
Marco Fragale
Provision of the service of distribution, transmission, and
4,29%
generation of electrical energy in accordance with the
provisions of current legislation.
Chairman
Marco Fragale
ViceChairman
Guillermo Martín Lozada Pozo
Daniel Abramovich Ackerman
Pedro Segundo Cruz Vine
Francisco García Calderón
Portugal
Karl Georg Maslo Luna
Elena Conterno Martinelli
Chairman
Marco Fragale
Director
Pedro Cruz Vine
Chairman
Marco Fragale
ViceChairman
Guillermo Martín Lozada Pozo
Directors
Carlos Alberto Solís Pino
María del Carmen Soraya Aho-
med Chávez
Martín Pérez Monteverde
Rafael Llosa Barrios
Jenny del Rosario Esaine
Quijandría
Enel Generación
Peru S.A.A.
Publicly traded com-
pany
Enel Generación Piura
S.A.
Stock corporation.
Chinango S.A.C
Closed joint-stock
company
Empresa de Generación
Eléctrica Los Pinos S.A.
Stock corporation.
Energética
Monzón S.A.C
Closed joint-stock
company
Empresa de Generación
Eléctrica Marcona S.A.C
Closed joint-stock
company
Enel Distribución
Peru S.A.A.
Publicly traded com-
pany
Calle César López
Rojas N° 201,
urbanización
Maranga, San Miguel
Lima, Peru (cambio
dirección memo 2015)
Calle César López
Rojas 201,
urbanización.
Maranga, San Miguel
Lima, Peru
Calle César López
Rojas N°201,
urbanización
Maranga, San Miguel
Lima, Peru
Calle César López
Rojas N°201,
urbanización
Maranga, San Miguel
Lima, Peru
Calle César López
Rojas N°201,
urbanización
Maranga, San Miguel
Lima, Peru
Calle César López
Rojas N°201,
urbanización
Maranga, San Miguel
Lima, Peru
Calle César López
Rojas N°201
urbanización,
Maranga, San Miguel,
Lima, Peru
312
Integrated Annual Report Enel Américas 2021
Peru
Company name
Legal nature
Address
Subscribed and
paid-up capital (1) in
US$ thousand
% Of Enel Américas’
% Of Enel Américas’
stake in the
subsidiary as of
12.31.2020 (2)
stake in the
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of
the Parent
Company
Summary corporate purpose
Directors
Chief Executive Officer/legal
representative
Enel Generación
Publicly traded com-
Peru S.A.A.
pany
587,218
83.60%
83.60%
3,51%
In general, activities typical of electrical energy generation.
It may also carry out actions of any other nature related or conducive
to its main corporate purpose.
Chairman
Marco Fragale
ViceChairman
Guillermo Martín Lozada Pozo
Directors
Daniel Abramovich Ackerman
Pedro Segundo Cruz Vine
Francisco García Calderón
Portugal
Karl Georg Maslo Luna
Elena Conterno Martinelli
Chairman
Marco Fragale
Rigoberto Novoa Velásquez
Enel Generación Piura
S.A.
Stock corporation.
urbanización.
21,085
96.50%
96.50%
0.66%
The main purpose of the company is to engage in the
generation of electricity and natural gas processing, in
accordance with the provisions of current legislation.
ViceChairman
Guillermo Martín Lozada Pozo
Rigoberto Novoa Velásquez
Director
Pedro Cruz Vine
Chinango S.A.C
Closed joint-stock
company
66,696
66.88%
66.88%
0.62%
Generation, commercialization, and transmission of electrical
energy, may carry out all the actions and celebrate all the
contracts that Peruvian law allows for such purposes.
Does not apply
Rigoberto Novoa Velásquez
Empresa de Generación
Eléctrica Los Pinos S.A.
Stock corporation.
Energética
Monzón S.A.C
Closed joint-stock
company
Empresa de Generación
Closed joint-stock
Eléctrica Marcona S.A.C
company
1,985
2,000
1.011
-
-
-
100.00%
100.00%
100.00%
0.03%
Production and sale of electricity from renewable sources
Does not apply
Claudio Eduardo
Helfmann Soto
-0.18%
Production and sale of electricity from renewable sources
Does not apply
Rigoberto Novoa Velásquez
0.01%
Production and sale of electricity from renewable sources
Does not apply
Claudio Eduardo
Helfmann Soto
Enel Distribución
Publicly traded com-
Peru S.A.A.
pany
133,152
83.15%
83.15%
4,29%
Provision of the service of distribution, transmission, and
generation of electrical energy in accordance with the
provisions of current legislation.
Chairman
Marco Fragale
ViceChairman
Guillermo Martín Lozada Pozo
Directors
Carlos Alberto Solís Pino
María del Carmen Soraya Aho-
med Chávez
Martín Pérez Monteverde
Rafael Llosa Barrios
Jenny del Rosario Esaine
Quijandría
Marco Fragale
Other Corporate Regulatory Information 313
Calle César López
Rojas N° 201,
urbanización
Maranga, San Miguel
Lima, Peru (cambio
dirección memo 2015)
Calle César López
Rojas 201,
Maranga, San Miguel
Lima, Peru
Calle César López
Rojas N°201,
urbanización
Maranga, San Miguel
Lima, Peru
Calle César López
Rojas N°201,
urbanización
Maranga, San Miguel
Lima, Peru
Calle César López
Rojas N°201,
urbanización
Maranga, San Miguel
Lima, Peru
Calle César López
Rojas N°201,
urbanización
Maranga, San Miguel
Lima, Peru
Calle César López
Rojas N°201
urbanización,
Maranga, San Miguel,
Lima, Peru
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Company name
Legal nature
Address
Subscribed and
paid-up capital (1) in
US$ thousand
% Of Enel Américas’
stake in the
subsidiary as of
12.31.2020 (2)
% Of Enel Américas’
stake in the
subsidiary as of
12.31.2021 (2)
the individual
Summary corporate purpose
Directors
Chief Executive Officer/legal
representative
% Represented
by this
investment on
assets of
the Parent
Company
Enel Peru S.A.C.
Closed joint-stock
company.
Enel Green Power Peru
S.A.C.
Closed joint-stock
company
Compañía Energética
Veracruz S.A.C.
Closed joint-stock
company
Enel X Peru S.A.C.
Closed joint-stock
company
Calle César López
Rojas 201,
urbanización
Maranga, San Miguel
Lima, Peru
Calle César López
Rojas N°201, urbaniza-
ción Maranga, San
Miguel Lima, Peru
Calle César López
Rojas N°201, urbaniza-
ción Maranga, San
Miguel Lima, Peru
Calle César López
Rojas N°201, urbaniza-
ción Maranga, San
Miguel Lima, Peru
1,344,898
100.00%
100.00%
-0.74%
construction of electric power plants; carry out activities of
Does not apply
Rigoberto Novoa Velásquez
283,991
-
100.00%
1.52%
Production and sale of electricity from renewable sources
Does not apply
722
100.00%
100.00%
0.05%
in Peru.
Develop and operate hydroelectric projects in any watershed
Does not apply
Claudio Eduardo
Helfmann Soto
Claudio Eduardo
Helfmann Soto
3,005
100.00%
100.00%
0.01%
collection, d. general services, e. works, equipment, materials
Does not apply
Alejandro Barragán Osorio
Make investments in general in other companies, preferably in
those dedicated to the exploitation of natural resources and
especially in those linked to the distribution, transmission, and
generation of electrical energy. Develop engineering for the
supply, assembly and commissioning of equipment, facilities
and / or services for the production of electrical energy. In
addition, it may carry out any other activity related to the
energy and water sector.
The Company’s purpose is to engage in the following activities:
I. Industrial and commercial activities, such as: a. distributed
generation, cogeneration and storage, b. electromobility, c.
sale of household appliances, marketing of insurance and
and electrical solutions, f. lighting and fiber optics; II. Advisory
activities in the control of energy efficiency to public and
private entities, as well as to individuals; III. Financial and
investment activities.
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to
US$ in accordance with International Accounting Standards
(2) Percentage of economic participation of Enel Américas directly and indirectly through its subsidiaries.
Uruguay
Company name
Legal nature
Address
Subscribed and paid-up
capital (1) in US$ thou-
sand
% Of Enel Américas’
stake in the
subsidiary as of
12.31.2020 (2)
the individual
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
assets of
the Parent
Company
Enel Uruguay S.A.
(Anteriormente Nuxer Trad)
Closed joint-stock com-
pany
Avenida Luis Alberto de
Herrera, n. 1248, Torre II,
Piso 15, OF 11300.
Montevideo, Uruguay.
US$ 0.69 miles
100.00%
100.00%
0.00%
Jorge Cernadas
Jorge Cernadas
The company aims to commercialize
energy and electrical power in the
Wholesale Electric Power Market
nationwide. Export, import, supply
and supply of energy and electrical
power. Develop, implement, operate,
and maintain electricity generation
equipment, as well as transmission
and distribution networks. Generate
electricity and provide services to
third parties of energy and power in
the national interconnected system.
Import, export, and market equipment
associated with the energy business.
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to
US$ in accordance with International Accounting Standards
(2) Percentage of economic participation of Enel Américas directly and indirectly through its subsidiaries.
314
Integrated Annual Report Enel Américas 2021
Company name
Legal nature
Address
Subscribed and
paid-up capital (1) in
US$ thousand
% Of Enel Américas’
% Of Enel Américas’
stake in the
subsidiary as of
12.31.2020 (2)
stake in the
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of
the Parent
Company
Enel Peru S.A.C.
Closed joint-stock
company.
1,344,898
100.00%
100.00%
-0.74%
Summary corporate purpose
Directors
Chief Executive Officer/legal
representative
Make investments in general in other companies, preferably in
those dedicated to the exploitation of natural resources and
especially in those linked to the distribution, transmission, and
generation of electrical energy. Develop engineering for the
construction of electric power plants; carry out activities of
supply, assembly and commissioning of equipment, facilities
and / or services for the production of electrical energy. In
addition, it may carry out any other activity related to the
energy and water sector.
Does not apply
Rigoberto Novoa Velásquez
Enel Green Power Peru
Closed joint-stock
Rojas N°201, urbaniza-
S.A.C.
company
283,991
-
100.00%
1.52%
Production and sale of electricity from renewable sources
Does not apply
Compañía Energética
Closed joint-stock
Rojas N°201, urbaniza-
Veracruz S.A.C.
company
722
100.00%
100.00%
0.05%
Develop and operate hydroelectric projects in any watershed
in Peru.
Does not apply
Claudio Eduardo
Helfmann Soto
Claudio Eduardo
Helfmann Soto
Enel X Peru S.A.C.
company
Closed joint-stock
Rojas N°201, urbaniza-
3,005
100.00%
100.00%
0.01%
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to
US$ in accordance with International Accounting Standards
(2) Percentage of economic participation of Enel Américas directly and indirectly through its subsidiaries.
The Company’s purpose is to engage in the following activities:
I. Industrial and commercial activities, such as: a. distributed
generation, cogeneration and storage, b. electromobility, c.
sale of household appliances, marketing of insurance and
collection, d. general services, e. works, equipment, materials
and electrical solutions, f. lighting and fiber optics; II. Advisory
activities in the control of energy efficiency to public and
private entities, as well as to individuals; III. Financial and
investment activities.
Does not apply
Alejandro Barragán Osorio
Calle César López
Rojas 201,
urbanización
Maranga, San Miguel
Lima, Peru
Calle César López
ción Maranga, San
Miguel Lima, Peru
Calle César López
ción Maranga, San
Miguel Lima, Peru
Calle César López
ción Maranga, San
Miguel Lima, Peru
Uruguay
Company name
Legal nature
Address
Subscribed and paid-up
capital (1) in US$ thou-
sand
% Of Enel Américas’
stake in the
subsidiary as of
12.31.2020 (2)
% Of Enel
Américas’
stake in the
subsidiary as of
12.31.2021 (2)
% Represented
by this
investment on
the individual
assets of
the Parent
Company
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
Enel Uruguay S.A.
Closed joint-stock com-
Herrera, n. 1248, Torre II,
(Anteriormente Nuxer Trad)
pany
Avenida Luis Alberto de
Piso 15, OF 11300.
Montevideo, Uruguay.
US$ 0.69 miles
100.00%
100.00%
0.00%
(1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to
US$ in accordance with International Accounting Standards
(2) Percentage of economic participation of Enel Américas directly and indirectly through its subsidiaries.
The company aims to commercialize
energy and electrical power in the
Wholesale Electric Power Market
nationwide. Export, import, supply
and supply of energy and electrical
power. Develop, implement, operate,
and maintain electricity generation
equipment, as well as transmission
and distribution networks. Generate
electricity and provide services to
third parties of energy and power in
the national interconnected system.
Import, export, and market equipment
associated with the energy business.
Jorge Cernadas
Jorge Cernadas
Other Corporate Regulatory Information 315
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Details of EGP Brazil Companies
Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
on the
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
Alba Energia Ltda.
Limited liability company
Alvorada Energia S.A
Closed joint-stock company
Apiacás Energia S.A
Closed joint-stock company
Bondia Energia Ltda.
Limited liability company
Central Geradora
Fotovoltaica Bom Nome Ltda
Limited liability company
Enel Green Power
Aroeira 01 S.A.
Closed joint-stock company
Enel Green Power
Aroeira 02 S.A.
Closed joint-stock company
Enel Green Power
Aroeira 03 S.A.
Closed joint-stock company
Enel Green Power
Aroeira 04 S.A.
Closed joint-stock company
Enel Green Power
Aroeira 05 S.A.
Closed joint-stock company
Enel Green Power
Aroeira 06 S.A.
Closed joint-stock company
Enel Green Power
Aroeira 07 S.A.
Closed joint-stock company
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
20220-297 Rio de Janeiro Brazil
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 501,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 501,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
Avenida Tancredo Neves, Nº 1632, Edf. Salvador Trade,
Sala 2014, Caminho Das Árvores
41820-020 Salvador
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
2,730
5,553
13,881
368
888
-
-
25
-
-
-
316
Integrated Annual Report Enel Américas 2021
% Of Enel
Américas’
stake in the
subsidiary
as of
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
12.31.2021
(2)
(2)
%
Represented
by this
investment
individual
assets of
the Parent
Company
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.00%
struction, and operation of
Roberta Bonomi
Design, development, con-
power generation plants
Roberta Bonomi
Jean Philippe Salvatore Bellavia
Luca Ceci
100.00%
0.03%
Production and sale of
electricity
Roberta Bonomi
100.00%
0.05%
Fabio Destefani Campos
Roberta Bonomi
Production and sale of
electricity
100.00%
0.00%
struction, and operation of
Jean Philippe Salvatore Bellavia
Roberta Bonomi
Design, development, con-
Roberta Bonomi
power generation plants
Luca Ceci
100.00%
0.00%
renewable sources
Production of electricity from
Jayme Barg
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
Mara Ayesha Lopez Berrios
Jean Philippe Salvatore Bellavia
Roberta Bonomi
100.00%
0.00%
Jean Philippe Salvatore Bellavia
Roberta Bonomi
Production of electricity from
renewable sources
100.00%
0.00%
Jean Philippe Salvatore Bellavia
Roberta Bonomi
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
Mara Ayesha Lopez Berrios
renewable sources
Jean Philippe Salvatore Bellavia
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Mara Ayesha Lopez Berrios
renewable sources
Jean Philippe Salvatore Bellavia
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Mara Ayesha Lopez Berrios
renewable sources
Jean Philippe Salvatore Bellavia
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Mara Ayesha Lopez Berrios
renewable sources
Jean Philippe Salvatore Bellavia
Roberta Bonomi
Roberta Bonomi
Fabio Destefani Campos
Camilo Rebollo Couto
Roberta Bonomi
Camilo Rebollo Couto
Jean Philippe Salvatore Bellavia
Camilo Rebollo
Roberta Bonomi
Roberta Bonomi
Luca Ceci
Camilo Rebollo Couto
Roberta Bonomi
Mara Ayesha Lopez Berrios
Luca Ceci
Camilo Rebollo Couto
Roberta Bonomi
Mara Ayesha Lopez Berrios
Luca Ceci
Camilo Rebollo Couto
Roberta Bonomi
Camilo Rebollo Couto
Roberta Bonomi
Camilo Rebollo Couto
Roberta Bonomi
Camilo Rebollo Couto
Roberta Bonomi
Camilo Rebollo Couto
Details of EGP Brazil Companies
Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
Alba Energia Ltda.
Limited liability company
Alvorada Energia S.A
Closed joint-stock company
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
5,553
Apiacás Energia S.A
Closed joint-stock company
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
13,881
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 501,
Bondia Energia Ltda.
Limited liability company
Central Geradora
Fotovoltaica Bom Nome Ltda
Limited liability company
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
20220-297 Rio de Janeiro Brazil
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 501,
CEP: 20220-297
CEP: 20220-297
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
Avenida Tancredo Neves, Nº 1632, Edf. Salvador Trade,
Sala 2014, Caminho Das Árvores
41820-020 Salvador
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Closed joint-stock company
Rio de Janeiro - RJ
Closed joint-stock company
Rio de Janeiro - RJ
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Enel Green Power
Aroeira 01 S.A.
Enel Green Power
Aroeira 02 S.A.
Enel Green Power
Aroeira 03 S.A.
Enel Green Power
Aroeira 04 S.A.
Enel Green Power
Aroeira 05 S.A.
Enel Green Power
Aroeira 06 S.A.
Enel Green Power
Aroeira 07 S.A.
2,730
368
888
25
-
-
-
-
-
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
(2)
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2021
(2)
%
Represented
by this
investment
on the
individual
assets of
the Parent
Company
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.00%
Design, development, con-
struction, and operation of
power generation plants
Roberta Bonomi
Jean Philippe Salvatore Bellavia
Luca Ceci
Roberta Bonomi
100.00%
0.03%
Production and sale of
electricity
100.00%
0.05%
Production and sale of
electricity
100.00%
0.00%
Design, development, con-
struction, and operation of
power generation plants
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi
Fabio Destefani Campos
Camilo Rebollo Couto
Roberta Bonomi
Fabio Destefani Campos
Camilo Rebollo Couto
Roberta Bonomi
Jean Philippe Salvatore Bellavia
Luca Ceci
Jean Philippe Salvatore Bellavia
Jayme Barg
Camilo Rebollo
Roberta Bonomi
Roberta Bonomi
Mara Ayesha Lopez Berrios
Jean Philippe Salvatore Bellavia
Luca Ceci
Camilo Rebollo Couto
Roberta Bonomi
Mara Ayesha Lopez Berrios
Jean Philippe Salvatore Bellavia
Luca Ceci
Camilo Rebollo Couto
Roberta Bonomi
Mara Ayesha Lopez Berrios
Jean Philippe Salvatore Bellavia
Luca Ceci
Camilo Rebollo Couto
Roberta Bonomi
Mara Ayesha Lopez Berrios
Jean Philippe Salvatore Bellavia
Camilo Rebollo Couto
Roberta Bonomi
Mara Ayesha Lopez Berrios
Jean Philippe Salvatore Bellavia
Camilo Rebollo Couto
Roberta Bonomi
Mara Ayesha Lopez Berrios
Jean Philippe Salvatore Bellavia
Camilo Rebollo Couto
Roberta Bonomi
Mara Ayesha Lopez Berrios
Jean Philippe Salvatore Bellavia
Camilo Rebollo Couto
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Other Corporate Regulatory Information 317
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
on the
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
% Of Enel
Américas’
stake in the
subsidiary
as of
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
12.31.2021
(2)
(2)
%
Represented
by this
investment
individual
assets of
the Parent
Company
Enel Green Power
Aroeira 08 S.A.
Closed joint-stock company
Enel Green Power
Aroeira 09 S.A.
Closed joint-stock company
Enel Green Power
Boa Vista 01 Ltda.
Limited liability company
Enel Green Power
Boa Vista Eólica S.A
Closed joint-stock company
Enel Green Power
Brejolândia Solar S.A
Closed joint-stock company
Enel Green Power
Cabeça De Boi S.A.
Closed joint-stock company
Enel Green Power
Cerrado Solar S.A.
Closed joint-stock company
Enel Green Power
Cristal Eólica S.A.
Closed joint-stock company
Enel Green Power
Cumaru 01 S.A.
Closed joint-stock company
Enel Green Power
Cumaru 02 S.A.
Closed joint-stock company
Enel Green Power
Cumaru 03 S.A.
Closed joint-stock company
Enel Green Power
Cumaru 04 S.A.
Closed joint-stock company
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Tancredo Neves, Nº 1632, Edf. Salvador Trade,
Sala 2014, Caminho Das Árvores
41820-020 Salvador
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
-
-
380
18,831
-
45,272
-
23,632
30,699
35,835
26,256
1,8764
318
Integrated Annual Report Enel Américas 2021
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.00%
Production of electricity from
Mara Ayesha Lopez Berrios
renewable sources
Jean Philippe Salvatore Bellavia
Roberta Bonomi
100.00%
0.00%
Parent Company
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi
100.00%
0.14%
energy
Production and sale of wind
Mara Ayesha Lopez Berrios
Roberta Bonomi
100.00%
0.00%
Camilo Rebollo Couto
Roberta Bonomi
Production of electricity from
renewable sources
100.00%
0.23%
Production of electricity from
renewable sources
Roberta Bonomi
100.00%
0.00%
Camilo Rebollo Couto
Roberta Bonomi
Production of electricity from
renewable sources
100.00%
0.18%
Mara Ayesha Lopez Berrios
Roberta Bonomi
Production of electricity from
renewable sources
Roberta Bonomi
Camilo Rebollo Couto
100.00%
0.23%
Jean Philippe Salvatore Bellavia
Roberta Bonomi
Production of electricity from
renewable sources
100.00%
0.24%
Jean Philippe Salvatore Bellavia
Roberta Bonomi
Production and sale of electri-
city from renewable sources
Roberta Bonomi
Camilo Rebollo Couto
Roberta Bonomi
Jean Philippe Salvatore Bellavia
Mara Ayesha Lopez Berrios
Luca Ceci
Camilo Rebollo Couto
Roberta Bonomi
Mara Ayesha Lopez Berrios
Jean Philippe Salvatores
Bellavia
Camilo Rebello Couto
Roberta Bonomi
Camilo Rebollo
Roberta Bonomi
Jayme Barg
Jean Philippe Salvarote Bellavia
Mara Ayesha Lopez Berrios
Fabio Destefani Campos
Roberta Bonomi
Camilo Rebollo Couto
Roberta Bonomi
Jayme Barg
Jean Philippe Salvatore Bellavia
Mara Ayesha Lopez Berrios
Roberta Bonomi
Mara Ayesha Lopez Berrios
Luca Ceci
Camilo Rebollo Couto
Roberta Bonomi
Mara Ayesha Lopez Berrios
Luca Ceci
Camilo Rebollo Couto
Roberta Bonomi
Camilo Rebollo Couto
Roberta Bonomi
Mara Ayesha Lopez Berrios
Luca Ceci
Camilo Rebollo Couto
100.00%
0.16%
Production of electricity from
Mara Ayesha Lopez Berrios
renewable sources
Jean Philippe Salvatore Bellavia
Roberta Bonomi
100.00%
0.12%
Jean Philippe Salvatore Bellavia
Roberta Bonomi
Production of electricity from
renewable sources
Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
Closed joint-stock company
CEP: 20220-297
45,272
Enel Green Power
Boa Vista 01 Ltda.
Limited liability company
Enel Green Power
Aroeira 08 S.A.
Enel Green Power
Aroeira 09 S.A.
Enel Green Power
Boa Vista Eólica S.A
Enel Green Power
Brejolândia Solar S.A
Enel Green Power
Cabeça De Boi S.A.
Enel Green Power
Cerrado Solar S.A.
Enel Green Power
Cristal Eólica S.A.
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Closed joint-stock company
CEP: 20220-297
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Tancredo Neves, Nº 1632, Edf. Salvador Trade,
Sala 2014, Caminho Das Árvores
41820-020 Salvador
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
Closed joint-stock company
CEP: 20220-297
20220-297 Rio de Janeiro
Brazil
Closed joint-stock company
CEP: 20220-297
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
Enel Green Power
Cumaru 01 S.A.
Closed joint-stock company
Enel Green Power
Cumaru 02 S.A.
Closed joint-stock company
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Enel Green Power
Cumaru 03 S.A.
Enel Green Power
Cumaru 04 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
380
18,831
-
-
-
-
23,632
30,699
35,835
26,256
1,8764
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
(2)
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2021
(2)
%
Represented
by this
investment
on the
individual
assets of
the Parent
Company
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Parent Company
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.14%
Production and sale of wind
energy
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi
Mara Ayesha Lopez Berrios
Jean Philippe Salvatore Bellavia
Camilo Rebollo Couto
Roberta Bonomi
Jean Philippe Salvatore Bellavia
Mara Ayesha Lopez Berrios
Luca Ceci
Camilo Rebollo Couto
Roberta Bonomi
Mara Ayesha Lopez Berrios
Jean Philippe Salvatores
Bellavia
Camilo Rebello Couto
Roberta Bonomi
Mara Ayesha Lopez Berrios
Camilo Rebollo
Roberta Bonomi
Jayme Barg
Camilo Rebollo Couto
Jean Philippe Salvarote Bellavia
Mara Ayesha Lopez Berrios
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
100.00%
0.23%
Production of electricity from
renewable sources
Fabio Destefani Campos
Roberta Bonomi
Camilo Rebollo Couto
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi
Jayme Barg
Camilo Rebollo Couto
Jean Philippe Salvatore Bellavia
Mara Ayesha Lopez Berrios
Roberta Bonomi
100.00%
0.18%
Production of electricity from
renewable sources
Roberta Bonomi
Mara Ayesha Lopez Berrios
Camilo Rebollo Couto
Roberta Bonomi
100.00%
0.23%
Production of electricity from
renewable sources
100.00%
0.24%
Production and sale of electri-
city from renewable sources
100.00%
0.16%
Production of electricity from
renewable sources
100.00%
0.12%
Production of electricity from
renewable sources
Roberta Bonomi
Mara Ayesha Lopez Berrios
Jean Philippe Salvatore Bellavia
Luca Ceci
Camilo Rebollo Couto
Roberta Bonomi
Mara Ayesha Lopez Berrios
Jean Philippe Salvatore Bellavia
Luca Ceci
Camilo Rebollo Couto
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Mara Ayesha Lopez Berrios
Jean Philippe Salvatore Bellavia
Camilo Rebollo Couto
Roberta Bonomi
Roberta Bonomi
Mara Ayesha Lopez Berrios
Jean Philippe Salvatore Bellavia
Luca Ceci
Camilo Rebollo Couto
Roberta Bonomi
Other Corporate Regulatory Information 319
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
on the
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
Enel Green Power
Cumaru 05 S.A.
Closed joint-stock company
Enel Green Power
Cumaru Participaçoes S.A.
Closed joint-stock company
Enel Green Power
Cumaru Solar 01 S.A.
Closed joint-stock company
Enel Green Power
Cumaru Solar 02 S.A.
Closed joint-stock company
Enel Green Power
Damascena Eólica S.A.
Closed joint-stock company
Enel Green Power
Delfina A Eólica S.A.
Enel Green Power
Delfina B Eólica S.A.
Enel Green Power
Delfina C Eólica S.A.
Enel Green Power
Delfina D Eólica S.A.
Closed joint-stock company
Closed joint-stock company
Closed joint-stock company
Closed joint-stock company
Enel Green Power
Delfina E Eólica S.A.
Closed joint-stock company
Enel Green Power
Desenvolvimento Ltda
Limited liability company
Enel Green Power
Dois Riachos Eólica S.A.
Closed joint-stock company
Enel Green Power
Emiliana Eólica S.A.
Closed joint-stock company
Enel Green Power
Esperança Eólica S.A.
Closed joint-stock company
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro
20220-297 Rio de Janeiro
Brazil
N/A Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
N/A Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297.
20220-297 Rio de Janeiro
Brazil
320
Integrated Annual Report Enel Américas 2021
26,601
-
100.00%
0.17%
Jean Philippe Salvatore Bellavia
Roberta Bonomi
Production of electricity from
renewable sources
--
-
-
15,029
50,999
16,709
5,584
19,006
19,019
8,369
21,786
24,271
23,235
% Of Enel
Américas’
stake in the
subsidiary
as of
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
12.31.2021
(2)
(2)
%
Represented
by this
investment
individual
assets of
the Parent
Company
100.00%
0.00%
Parent Company
Roberta Bonomi
Roberta Bonomi
Mara Ayesha Lopez Berrios
Luca Ceci
Camilo Rebollo Couto
Roberta Bonomi
Luca Ceci
Jean Philippe Salvaroew
Bellavia
Roberta Bonomi
Jean Philippe Salvatore Bellavia
Jayme Barg
Camilo Rebollo Couto
Mara Ayesha Lopez Berrios
Roberta Bonomi
Jean Philippe Salvatore Bellavia
Jayme Barg
Camilo Rebollo Couto
Mara Ayesha Lopez Berrios
Roberta Bonomi
Camilo Rebollo Couto
Mara Ayesha Lopez Berrios
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.08%
Production of electricity from
renewable sources
100.00%
0.36%
Production of electricity from
Roberta Bonomi
renewable sources
Camilo Rebollo Couto
Roberta Bonomi
100.00%
0.12%
Production of electricity from
renewable sources
100.00%
0.04%
Production of electricity from
renewable sources
100.00%
0.13%
Production of electricity from
renewable sources
Roberta Bonomi
Camilo Rebollo Couto
Mara Ayesha Lopez Berrios
Roberta Bonomi
Camilo Rebollo Couto
Mara Ayesha Lopez Berrios
Roberta Bonomi
Camilo Rebollo Couto
Mara Ayesha Lopez Berrios
Roberta Bonomi
100.00%
0.13%
Production of electricity from
Camilo Rebollo Couto
renewable sources
Mara Ayesha Lopez Berrios
Roberta Bonomi
100.00%
0.03%
Production of electricity from
Jean Philippe Salvatore Bellavia
renewable sources
Luca Ceci
Roberta Bonomi
Roberta Bonomi
100.00%
0.16%
Production of electricity from
renewable sources
Roberta Bonomi
Camilo Rebollo Couto
Mara Ayesha Lopez Berrios
Roberta Bonomi
100.00%
0.16%
energy
Production and sale of wind
Mara Ayesha Berrios
Roberta Bonomi
Camilo Rebollo Couto
Roberta Bonomi
100.00%
0.16%
Production of electricity from
renewable sources
Roberta Bonomi
Camilo Rebollo Couto
Mara Ayesha Lopez Berrios
Roberta Bonomi
-
-
-
-
-
-
-
-
-
-
-
-
Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
Enel Green Power
Cumaru Participaçoes S.A.
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Enel Green Power
Cumaru Solar 01 S.A.
Closed joint-stock company
Enel Green Power
Cumaru Solar 02 S.A.
Closed joint-stock company
Enel Green Power
Damascena Eólica S.A.
Closed joint-stock company
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro
20220-297 Rio de Janeiro
N/A Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Enel Green Power
Delfina A Eólica S.A.
Closed joint-stock company
Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Enel Green Power
Delfina B Eólica S.A.
Closed joint-stock company
Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
N/A Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Enel Green Power
Delfina C Eólica S.A.
Enel Green Power
Delfina D Eólica S.A.
Enel Green Power
Delfina E Eólica S.A.
Closed joint-stock company
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
5,584
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
CEP: 20220-297
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Closed joint-stock company
Rio de Janeiro - RJ
19,006
Closed joint-stock company
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
19,019
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
20220-297 Rio de Janeiro
Brazil
CEP: 20220-297
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
Enel Green Power
Desenvolvimento Ltda
Limited liability company
Rio de Janeiro - RJ
Enel Green Power
Dois Riachos Eólica S.A.
Closed joint-stock company
CEP: 20220-297
20220-297 Rio de Janeiro
Enel Green Power
Emiliana Eólica S.A.
Closed joint-stock company
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro
20220-297 Rio de Janeiro
Enel Green Power
Esperança Eólica S.A.
Closed joint-stock company
CEP: 20220-297.
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
Brazil
Brazil
Brazil
Brazil
Brazil
--
-
-
15,029
50,999
16,709
8,369
21,786
24,271
23,235
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
(2)
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2021
(2)
%
Represented
by this
investment
on the
individual
assets of
the Parent
Company
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
Enel Green Power
Cumaru 05 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
26,601
-
100.00%
0.17%
Production of electricity from
renewable sources
100.00%
0.00%
Parent Company
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.08%
Production of electricity from
renewable sources
Roberta Bonomi
Mara Ayesha Lopez Berrios
Jean Philippe Salvatore Bellavia
Luca Ceci
Camilo Rebollo Couto
Roberta Bonomi
Luca Ceci
Jean Philippe Salvaroew
Bellavia
Roberta Bonomi
Jean Philippe Salvatore Bellavia
Jayme Barg
Camilo Rebollo Couto
Mara Ayesha Lopez Berrios
Roberta Bonomi
Jean Philippe Salvatore Bellavia
Jayme Barg
Camilo Rebollo Couto
Mara Ayesha Lopez Berrios
Roberta Bonomi
Camilo Rebollo Couto
Mara Ayesha Lopez Berrios
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
100.00%
0.36%
Production of electricity from
renewable sources
Roberta Bonomi
Camilo Rebollo Couto
Roberta Bonomi
100.00%
0.12%
Production of electricity from
renewable sources
100.00%
0.04%
Production of electricity from
renewable sources
100.00%
0.13%
Production of electricity from
renewable sources
100.00%
0.13%
Production of electricity from
renewable sources
Roberta Bonomi
Camilo Rebollo Couto
Mara Ayesha Lopez Berrios
Roberta Bonomi
Camilo Rebollo Couto
Mara Ayesha Lopez Berrios
Roberta Bonomi
Camilo Rebollo Couto
Mara Ayesha Lopez Berrios
Roberta Bonomi
Camilo Rebollo Couto
Mara Ayesha Lopez Berrios
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
100.00%
0.03%
Production of electricity from
renewable sources
Roberta Bonomi
Jean Philippe Salvatore Bellavia
Luca Ceci
Roberta Bonomi
100.00%
0.16%
Production of electricity from
renewable sources
Roberta Bonomi
Camilo Rebollo Couto
Mara Ayesha Lopez Berrios
Roberta Bonomi
100.00%
0.16%
Production and sale of wind
energy
Roberta Bonomi
Mara Ayesha Berrios
Camilo Rebollo Couto
Roberta Bonomi
100.00%
0.16%
Production of electricity from
renewable sources
Roberta Bonomi
Camilo Rebollo Couto
Mara Ayesha Lopez Berrios
Roberta Bonomi
Other Corporate Regulatory Information 321
-
-
-
-
-
-
-
-
-
-
-
-
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
on the
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
Enel Green Power
Esperança Solar S.A.
Closed joint-stock company
Enel Green Power
Fazenda S.A.
Closed joint-stock company
Enel Green Power
Fontes dos Ventos 2 S.A.
Closed joint-stock company
Enel Green Power
Fontes Dos Ventos 3 S.A.
Closed joint-stock company
Enel Green Power
Fontes II Participações S.A.
Closed joint-stock company
Enel Green Power
Fontes Solar S.A.
Closed joint-stock company
Enel Green Power
Horizonte Mp Solar S.A.
Closed joint-stock company
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297.
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ, CEP:
20220-297
Enel Green Power
Ituverava Norte Solar S.A.
Closed joint-stock company
Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ, CEP:
20220-297
Enel Green Power
Ituverava Solar S.A.
Closed joint-stock company
Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ, CEP:
20220-297
Enel Green Power
Ituverava Sul Solar S.A.
Closed joint-stock company
Enel Green Power
Joana Eólica S.A
Closed joint-stock company
Enel Green Power
Lagoa do Sol 01 S.A.
Closed joint-stock company
Enel Green Power
Lagoa do Sol 02 S.A.
Closed joint-stock company
Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ, CEP:
20220-297
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
911, torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary, Teresina, PI, CEP: 64.051-090
64.051-090 Teresina
Brazil
-
43,868
46,376
31,206
-
-
78,378
37,829
39,338
72,846
23,386
0.2
0.2
322
Integrated Annual Report Enel Américas 2021
% Of Enel
Américas’
stake in the
subsidiary
as of
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
12.31.2021
(2)
(2)
%
Represented
by this
investment
individual
assets of
the Parent
Company
-
-
-
-
-
-
-
-
-
-
-
-
-
Roberta Bonomi
Jayme Barg
Jean Philippe Salvarote Bellavia
Mara Ayesha Lopez Berrios
Fabio Destefani Campos
Roberta Bonomi
Camilo Rebollo Couto
Roberta Bonomi
Leonardo Soares Walter
Camilo Rebollo Couto
Eduardo Rietra Dyer
Roberta Bonomi
Leonardo Soares Walter
Margot Frota Cohn Pires
Camilo Rebollo Couto
Eduardo Rietra Dyer
100.00%
0.00%
Camilo Rebollo Couto
Roberta Bonomi
Production of electricity from
renewable sources
100.00%
0.22%
Production of electricity from
renewable sources
Roberta Bonomi
100.00%
0.29%
Production of electricity from
Margot Frota Cohn Pires
renewable sources
Mara Ayesha Lopez Berrios
Roberta Bonomi
100.00%
0.20%
Production of electricity from
renewable sources
Roberta Bonomi
100.00%
0.00%
Parent Company
Jean Philippe Salvatore Bellavia Roberta Bonomi
100.00%
0.00%
Camilo Rebollo Couto
Roberta Bonomi
Production of electricity from
renewable sources
Jean Philippe Salvatore Bellavia
Mara Ayesha Lopez Berrios
100.00%
0.48%
renewable sources
Production of electricity from
Mara Ayesha Lopez Berrios
Roberta Bonomi
100.00%
0.19%
renewable sources
Production of electricity from
Mara Ayesha Lopez Berrios
Roberta Bonomi
100.00%
0.16%
Production of electricity from
General), Mara Ayesha Lopez
renewable sources
Berrios, Jayme Barg y Camilo
Roberta Bonomi
Roberta Bonomi
Jayme Barg
Roberta Bonomi
Jayme Barg
Camilo Rebollo
Roberta Bonomi
Jayme Barg
Camilo Rebollo
Roberta Bonomi (Gerente
Roberta Bonomi (Gerente
Rebollo
Rebollo
100.00%
0.34%
Production of electricity from
General), Mara Ayesha Lopez
renewable sources
Berrios, Jayme Barg y Camilo
Roberta Bonomi
100.00%
0.15%
energy
Production and sale of wind
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Roberta Bonomi
Berrios, y Camilo Rebollo
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi
Roberta Bonomi
Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
Enel Green Power
Esperança Solar S.A.
Enel Green Power
Fazenda S.A.
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Closed joint-stock company
CEP: 20220-297.
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Enel Green Power
Fontes dos Ventos 2 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Enel Green Power
Fontes Dos Ventos 3 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Enel Green Power
Fontes II Participações S.A.
Closed joint-stock company
Rio de Janeiro - RJ
Enel Green Power
Fontes Solar S.A.
Enel Green Power
Horizonte Mp Solar S.A.
Enel Green Power
Ituverava Norte Solar S.A.
Enel Green Power
Ituverava Solar S.A.
Enel Green Power
Ituverava Sul Solar S.A.
Enel Green Power
Joana Eólica S.A
Enel Green Power
Lagoa do Sol 01 S.A.
Enel Green Power
Lagoa do Sol 02 S.A.
20220-297
20220-297
20220-297
20220-297
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Closed joint-stock company
Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ, CEP:
78,378
Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Closed joint-stock company
Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ, CEP:
37,829
Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Closed joint-stock company
Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ, CEP:
39,338
Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Closed joint-stock company
Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ, CEP:
72,846
Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Closed joint-stock company
Rio de Janeiro - RJ
23,386
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
Closed joint-stock company
Parque Vilmary, Teresina, PI, CEP: 64.051-090
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
911, torre 02, Manhattan River Center, São Cristóvão,
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
43,868
46,376
31,206
-
-
-
0.2
0.2
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
(2)
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2021
(2)
%
Represented
by this
investment
on the
individual
assets of
the Parent
Company
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.22%
Production of electricity from
renewable sources
100.00%
0.29%
Production of electricity from
renewable sources
100.00%
0.20%
Production of electricity from
renewable sources
Roberta Bonomi
Jayme Barg
Camilo Rebollo Couto
Jean Philippe Salvarote Bellavia
Mara Ayesha Lopez Berrios
Fabio Destefani Campos
Roberta Bonomi
Camilo Rebollo Couto
Roberta Bonomi
Leonardo Soares Walter
Margot Frota Cohn Pires
Mara Ayesha Lopez Berrios
Camilo Rebollo Couto
Eduardo Rietra Dyer
Roberta Bonomi
Leonardo Soares Walter
Margot Frota Cohn Pires
Camilo Rebollo Couto
Eduardo Rietra Dyer
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
100.00%
0.00%
Parent Company
Jean Philippe Salvatore Bellavia Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.48%
Production of electricity from
renewable sources
100.00%
0.19%
Production of electricity from
renewable sources
100.00%
0.16%
Production of electricity from
renewable sources
100.00%
0.34%
Production of electricity from
renewable sources
100.00%
0.15%
Production and sale of wind
energy
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi
Jayme Barg
Camilo Rebollo Couto
Jean Philippe Salvatore Bellavia
Mara Ayesha Lopez Berrios
Roberta Bonomi
Mara Ayesha Lopez Berrios
Jayme Barg
Camilo Rebollo
Roberta Bonomi
Mara Ayesha Lopez Berrios
Jayme Barg
Camilo Rebollo
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Jayme Barg y Camilo
Rebollo
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Jayme Barg y Camilo
Rebollo
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, y Camilo Rebollo
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Other Corporate Regulatory Information 323
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
on the
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
Enel Green Power
Lagoa do Sol 03 S.A.
Closed joint-stock company
Enel Green Power Lagoa do
Sol 04 S.A.
Closed joint-stock company
Enel Green Power
Lagoa do Sol 05 S.A
Closed joint-stock company
Enel Green Power
Lagoa do Sol 06 S.A
Closed joint-stock company
Enel Green Power
Lagoa do Sol 07 S.A
Closed joint-stock company
Enel Green Power
Lagoa do Sol 08 S.A
Closed joint-stock company
Enel Green Power
Lagoa do Sol 09 S.A
Closed joint-stock company
Enel Green Power
Lagoa II Participações S.A.
Closed joint-stock company
Enel Green Power
Lagoa III Participações S.A.
Closed joint-stock company
Enel Green Power
Lagoa Participações S.A.
Closed joint-stock company
Enel Green Power
Maniçoba Eólica S.A.
Closed joint-stock company
Enel Green Power
Modelo I Eolica S.A.
Enel Green Power
Modelo II Eólica S.A.
Closed joint-stock company
Closed joint-stock company
Enel Green Power
Morro Do Chapéu I Eólica S.A.
Closed joint-stock company
324
Integrated Annual Report Enel Américas 2021
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, salas 909, 910. 911,
torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary, Teresina, PI, CEP: 64.051-090
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, salas 909, 910. 911,
torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary, Teresina, PI, CEP: 64.051-090
64.051-090 Teresina
Brazil
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
911, torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary, Teresina, PI, CEP: 64.051-090
64.051-090 Teresina
Brazil
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
911, torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary, Teresina, PI, CEP: 64.051-090
64.051-090 Teresina
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro
20220-297 Rio de Janeiro
Brazil
N/A Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro
20220-297 Rio de Janeiro
Brazil
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
16,288
21,695
19,343
44,549
% Of Enel
Américas’
stake in the
subsidiary
as of
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
12.31.2021
(2)
(2)
%
Represented
by this
investment
individual
assets of
the Parent
Company
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi (Gerente Ge-
Bellavia y Luca Ceci
Roberta Bonomi (Gerente Ge-
Bellavia y Luca Ceci
Roberta Bonomi (Gerente Ge-
Bellavia y Luca Ceci
100.00%
0.00%
Parent Company
neral), Jean Philippe Salvatore
Roberta Bonomi
100.00%
0.00%
Parent Company
neral), Jean Philippe Salvatore
Roberta Bonomi
100.00%
0.00%
Parent Company
neral), Jean Philippe Salvatore
Roberta Bonomi
100.00%
0.10%
Production of electricity from
renewable sources
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Roberta Bonomi
Berrios, y Camilo Rebollo
100.00%
0.15%
Production of electricity from
renewable sources
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Roberta Bonomi
Berrios, y Camilo Rebollo
100.00%
0.13%
Production of electricity from
renewable sources
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Roberta Bonomi
Berrios, y Camilo Rebollo
100.00%
0.30%
Production of electricity from
renewable sources
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Roberta Bonomi
Berrios, y Camilo Rebollo
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
Enel Green Power
Lagoa do Sol 03 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power Lagoa do
Sol 04 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary, Teresina, PI, CEP: 64.051-090
Avenida Senador Area Leão, 2.185, salas 909, 910. 911,
torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary, Teresina, PI, CEP: 64.051-090
Avenida Senador Area Leão, 2.185, salas 909, 910. 911,
torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary, Teresina, PI, CEP: 64.051-090
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
911, torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary, Teresina, PI, CEP: 64.051-090
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
911, torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Lagoa do Sol 05 S.A
Enel Green Power
Lagoa do Sol 06 S.A
Enel Green Power
Lagoa do Sol 07 S.A
Enel Green Power
Lagoa do Sol 08 S.A
Enel Green Power
Lagoa do Sol 09 S.A
Enel Green Power
Lagoa II Participações S.A.
Closed joint-stock company
Rio de Janeiro - RJ
Enel Green Power
Lagoa III Participações S.A.
Closed joint-stock company
Rio de Janeiro - RJ
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Enel Green Power
Lagoa Participações S.A.
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Enel Green Power
Maniçoba Eólica S.A.
Closed joint-stock company
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro
20220-297 Rio de Janeiro
Enel Green Power
Modelo I Eolica S.A.
Closed joint-stock company
Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
N/A Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Enel Green Power
Modelo II Eólica S.A.
Closed joint-stock company
Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Enel Green Power
Morro Do Chapéu I Eólica S.A.
Closed joint-stock company
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro
20220-297 Rio de Janeiro
Brazil
Brazil
Brazil
Brazil
Brazil
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
16,288
21,695
19,343
44,549
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
(2)
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2021
(2)
%
Represented
by this
investment
on the
individual
assets of
the Parent
Company
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
-
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Parent Company
100.00%
0.00%
Parent Company
100.00%
0.00%
Parent Company
100.00%
0.10%
Production of electricity from
renewable sources
100.00%
0.15%
Production of electricity from
renewable sources
100.00%
0.13%
Production of electricity from
renewable sources
100.00%
0.30%
Production of electricity from
renewable sources
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi (Gerente Ge-
neral), Jean Philippe Salvatore
Bellavia y Luca Ceci
Roberta Bonomi
Roberta Bonomi (Gerente Ge-
neral), Jean Philippe Salvatore
Bellavia y Luca Ceci
Roberta Bonomi
Roberta Bonomi (Gerente Ge-
neral), Jean Philippe Salvatore
Bellavia y Luca Ceci
Roberta Bonomi
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, y Camilo Rebollo
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, y Camilo Rebollo
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, y Camilo Rebollo
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, y Camilo Rebollo
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Other Corporate Regulatory Information 325
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Company name
Legal nature
Address
Enel Green Power
Morro Do Chapéu Ii Eólica S.A.
Closed joint-stock company
Enel Green Power
Morro do Chapéu Solar 01 S.A.
Closed joint-stock company
Enel Green Power
Mourão S.A.
Closed joint-stock company
Enel Green Power
Nova Olinda 01 S.A.
Closed joint-stock company
Enel Green Power
Nova Olinda 02 S.A.
Closed joint-stock company
Enel Green Power
Nova Olinda 03 S.A.
Closed joint-stock company
Enel Green Power
Nova Olinda 04 S.A.
Closed joint-stock company
Enel Green Power
Nova Olinda 05 S.A.
Closed joint-stock company
Enel Green Power
Nova Olinda 06 S.A.
Closed joint-stock company
Enel Green Power
Nova Olinda 07 S.A.
Closed joint-stock company
Enel Green Power
Nova Olinda 08 S.A.
Closed joint-stock company
Enel Green Power
Nova Olinda 09 S.A.
Closed joint-stock company
Enel Green Power
Novo Lapa 01 S.A.
Closed joint-stock company
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Niemeyer, nº 2000. Bloco 01, Sala
601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Senador Area Leão, 2.185, salas 909, 910. 911,
torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary, Teresina, PI, CEP: 64.051-090
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, salas 909, 910. 911,
torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary, Teresina, PI, CEP: 64.051-090
64.051-090 Piauí
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, salas 909, 910. 911,
torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary, Teresina, PI, CEP: 64.051-090
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, salas 909, 910. 911,
torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary, Teresina, PI, CEP: 64.051-090
64.051-090 Teresina
Brazil
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
911, torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary, , PI,
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, salas 909, 910. 911,
torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary, Teresina, PI, CEP: 64.051-090
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Subscribed and
paid-up capital (1)
in US$ thousand
36,993
0.2
4,596
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
326
Integrated Annual Report Enel Américas 2021
% Of Enel
Américas’
stake in the
subsidiary
as of
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
12.31.2021
(2)
(2)
%
Represented
by this
investment
individual
assets of
the Parent
Company
on the
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.26%
Production of electricity from
renewable sources
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Roberta Bonomi
Berrios, y Camilo Rebollo
100.00%
0.00%
Parent Company
Roberta Bonomi
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi (Gerente
General), Camilo Rebollo y
Fábio Destefani Campos
100.00%
0.05%
Production of electricity from
renewable sources
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Roberta Bonomi
Camilo Rebollo y Jayme Barg
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
Company name
Legal nature
Address
Enel Green Power
Morro Do Chapéu Ii Eólica S.A.
Closed joint-stock company
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Niemeyer, nº 2000. Bloco 01, Sala
601, parte, Aqwa Corporate, Santo Cristo,
Enel Green Power
Morro do Chapéu Solar 01 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Enel Green Power
Mourão S.A.
Closed joint-stock company
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Subscribed and
paid-up capital (1)
in US$ thousand
36,993
0.2
4,596
Enel Green Power
Nova Olinda 01 S.A.
Enel Green Power
Nova Olinda 02 S.A.
Enel Green Power
Nova Olinda 03 S.A.
Enel Green Power
Nova Olinda 04 S.A.
Enel Green Power
Nova Olinda 05 S.A.
Enel Green Power
Nova Olinda 06 S.A.
Enel Green Power
Nova Olinda 07 S.A.
Enel Green Power
Nova Olinda 08 S.A.
Closed joint-stock company
Parque Vilmary, Teresina, PI, CEP: 64.051-090
Avenida Senador Area Leão, 2.185, salas 909, 910. 911,
torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary, Teresina, PI, CEP: 64.051-090
Avenida Senador Area Leão, 2.185, salas 909, 910. 911,
torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Brazil
Brazil
64.051-090 Teresina
Brazil
64.051-090 Piauí
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
64.051-090 Teresina
Brazil
Closed joint-stock company
Parque Vilmary, Teresina, PI, CEP: 64.051-090
Avenida Senador Area Leão, 2.185, salas 909, 910. 911,
torre 02, Manhattan River Center, São Cristóvão,
64.051-090 Teresina
Brazil
Closed joint-stock company
Parque Vilmary, Teresina, PI, CEP: 64.051-090
Avenida Senador Area Leão, 2.185, salas 909, 910. 911,
torre 02, Manhattan River Center, São Cristóvão,
64.051-090 Teresina
Brazil
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
911, torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary, , PI,
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, salas 909, 910. 911,
torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary, Teresina, PI, CEP: 64.051-090
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Enel Green Power
Nova Olinda 09 S.A.
Closed joint-stock company
Enel Green Power
Novo Lapa 01 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
(2)
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2021
(2)
%
Represented
by this
investment
on the
individual
assets of
the Parent
Company
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.26%
Production of electricity from
renewable sources
100.00%
0.00%
Parent Company
100.00%
0.05%
Production of electricity from
renewable sources
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, y Camilo Rebollo
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Camilo Rebollo,
Jayme Barg y Jean Philippe
Salvatore Bellavia
Roberta Bonomi (Gerente
General), Camilo Rebollo y
Fábio Destefani Campos
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
Other Corporate Regulatory Information 327
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
on the
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
% Of Enel
Américas’
stake in the
subsidiary
as of
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
12.31.2021
(2)
(2)
%
Represented
by this
investment
individual
assets of
the Parent
Company
Enel Green Power
Novo Lapa 02 S.A.
Enel Green Power
Novo Lapa 03 S.A.
Closed joint-stock company
Closed joint-stock company
Enel Green Power
Novo Lapa 04 S.A.
Closed joint-stock company
Enel Green Power
Novo Lapa 05 S.A.
Closed joint-stock company
Enel Green Power
Novo Lapa 06 S.A.
Closed joint-stock company
Enel Green Power
Novo Lapa 07 S.A.
Closed joint-stock company
Enel Green Power
Novo Lapa 08 S.A.
Closed joint-stock company
Enel Green Power
Paranapanema S.A.
Closed joint-stock company
Enel Green Power
Pau Ferro Eólica S.A.
Closed joint-stock company
Enel Green Power
Pedra Do Gerônimo Eólica S.A.
Limited liability company
Enel Green Power
Primavera Eólica S.A.
Closed joint-stock company
Enel Green Power
Salto Apiacás S.A.
Closed joint-stock company
Enel Green Power
São Abraão Eólica S.A.
Closed joint-stock company
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ
20220-300 Rio de Janeiro
Brazil
Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ
20220-300 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ, CEP:
20220-297
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
328
Integrated Annual Report Enel Américas 2021
0.2
0.2
0.2
0.2
0.2
0.2
0.2
26,943
22,464
33,092
25,794
46,788
16,391
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.24%
Production of electricity from
renewable sources
Roberta Bonomi (Gerente
General), Camilo Rebollo y
Fábio Destefani Campos
Roberta Bonomi
100.00%
0.16%
energy
Production and sale of wind
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Roberta Bonomi
Berrios, y Camilo Rebollo
100.00%
0.23%
energy
Production and sale of wind
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Roberta Bonomi
Berrios, y Camilo Rebollo
100.00%
0.21%
energy
Production and sale of wind
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Roberta Bonomi
Berrios, y Camilo Rebollo
100.00%
0.28%
Production of electricity from
renewable sources
Roberta Bonomi (Gerente
General), Camilo Rebollo y
Roberta Bonomi
Fábio Destefani Campos
100.00%
0.13%
Production of electricity from
renewable sources
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Roberta Bonomi
Berrios, y Camilo Rebollo
Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
Enel Green Power
Novo Lapa 02 S.A.
Enel Green Power
Novo Lapa 03 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Closed joint-stock company
Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ
20220-300 Rio de Janeiro
Brazil
Brazil
Enel Green Power
Novo Lapa 04 S.A.
Closed joint-stock company
Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ
20220-300 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Enel Green Power
Novo Lapa 05 S.A.
Enel Green Power
Novo Lapa 06 S.A.
Enel Green Power
Novo Lapa 07 S.A.
Enel Green Power
Novo Lapa 08 S.A.
Enel Green Power
Paranapanema S.A.
Enel Green Power
Pau Ferro Eólica S.A.
Enel Green Power
Pedra Do Gerônimo Eólica S.A.
Limited liability company
Enel Green Power
Primavera Eólica S.A.
Closed joint-stock company
CEP: 20220-297
Enel Green Power
Salto Apiacás S.A.
Closed joint-stock company
CEP: 20220-297
Avenida Niemeyer, nº 2000. Bloco 01, Sala 601, parte,
Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ, CEP:
20220-297
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Enel Green Power
São Abraão Eólica S.A.
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
0.2
0.2
0.2
0.2
0.2
0.2
0.2
26,943
22,464
33,092
25,794
46,788
16,391
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
(2)
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2021
(2)
%
Represented
by this
investment
on the
individual
assets of
the Parent
Company
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia (Gerente General)
Camilo Rebollo y Jayme Barg
Jean Philippe Salvatore
Bellavia
100.00%
0.24%
Production of electricity from
renewable sources
Roberta Bonomi (Gerente
General), Camilo Rebollo y
Fábio Destefani Campos
Roberta Bonomi
100.00%
0.16%
Production and sale of wind
energy
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, y Camilo Rebollo
Roberta Bonomi
100.00%
0.23%
Production and sale of wind
energy
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, y Camilo Rebollo
Roberta Bonomi
100.00%
0.21%
Production and sale of wind
energy
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, y Camilo Rebollo
Roberta Bonomi
100.00%
0.28%
Production of electricity from
renewable sources
Roberta Bonomi (Gerente
General), Camilo Rebollo y
Fábio Destefani Campos
Roberta Bonomi
100.00%
0.13%
Production of electricity from
renewable sources
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, y Camilo Rebollo
Roberta Bonomi
Other Corporate Regulatory Information 329
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
on the
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
% Of Enel
Américas’
stake in the
subsidiary
as of
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
12.31.2021
(2)
(2)
%
Represented
by this
investment
individual
assets of
the Parent
Company
Enel Green Power
São Gonçalo 01 S.A.
Closed joint-stock company
Enel Green Power
São Gonçalo 02 S.A.
Closed joint-stock company
Enel Green Power
São Gonçalo 3 S.A.
Closed joint-stock company
Enel Green Power
São Gonçalo 4 S.A.
Closed joint-stock company
Enel Green Power
São Gonçalo 5 S.A.
Closed joint-stock company
Enel Green Power
São Gonçalo 6 S.A.
Closed joint-stock company
Enel Green Power
Sao Goncalo 07 S.A.
Closed joint-stock company
Enel Green Power
São Gonçalo 08 S.A.
Closed joint-stock company
Enel Green Power
São Gonçalo 10 S.A.
Closed joint-stock company
Enel Green Power
São Gonçalo 11 S.A.
Closed joint-stock company
Enel Green Power
São Gonçalo 12 S.A.
Closed joint-stock company
Enel Green Power
São Gonçalo 14 S.A.
Closed joint-stock company
Enel Green Power
São Gonçalo 15 S.A.
Closed joint-stock company
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
330
Integrated Annual Report Enel Américas 2021
19,383
23,747
39,376
22,967
22,663
29,372
15,175
14,234
22,957
15,166
14,008
38,111
32,508
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.09%
Production of electricity from
General), Mara Ayesha Lopez
renewable sources
Berrios, Jayme Barg y Camilo
Roberta Bonomi
Roberta Bonomi (Gerente
Rebollo
100.00%
0.12%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios y
Roberta Bonomi
Camilo Rebollo Couto
100.00%
0.19%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios y
Roberta Bonomi
Camilo Rebollo Couto
100.00%
0.12%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios y
Roberta Bonomi
Camilo Rebollo Couto
100.00%
0.06%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios y
Roberta Bonomi
Camilo Rebollo Couto
100.00%
0.16%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios y
Roberta Bonomi
Camilo Rebollo Couto
100.00%
0.09%
Production of electricity from
renewable sources
100.00%
0.09%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez
Berrios, Jean Philipee
Salvatore Bellavia, Luca Ceci y
Camilo Rebollo Couto
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez
Berrios, Jean Philipee
Salvatore Bellavia, Luca Ceci y
Camilo Rebollo Couto
Roberta Bonomi
Roberta Bonomi
100.00%
0.11%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios y
Roberta Bonomi
Camilo Rebollo Couto
100.00%
0.09%
Production of electricity from
renewable sources
100.00%
0.08%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez
Berrios, Jean Philipee
Salvatore Bellavia, Luca Ceci y
Camilo Rebollo Couto
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez
Berrios, Jean Philipee
Salvatore Bellavia, Luca Ceci y
Camilo Rebollo Couto
Roberta Bonomi, Jayme Barg,
Roberta Bonomi
Roberta Bonomi
100.00%
0.22%
renewable sources
Production of electricity from
Mara Ayesha Lopez Berrios,
Jean Philipee Salvatore Bellavia
y Camilo Rebollo Couto
Roberta Bonomi
100.00%
0.18%
renewable sources
Production of electricity from
Mara Ayesha Lopez Berrios,
Roberta Bonomi
Roberta Bonomi, Jayme Barg,
Jean Philipee Salvatore Bellavia
y Camilo Rebollo Couto
Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
Enel Green Power
São Gonçalo 01 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
São Gonçalo 02 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Sao Goncalo 07 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
São Gonçalo 3 S.A.
Enel Green Power
São Gonçalo 4 S.A.
Enel Green Power
São Gonçalo 5 S.A.
Enel Green Power
São Gonçalo 6 S.A.
Enel Green Power
São Gonçalo 08 S.A.
Enel Green Power
São Gonçalo 10 S.A.
Enel Green Power
São Gonçalo 11 S.A.
Enel Green Power
São Gonçalo 12 S.A.
Enel Green Power
São Gonçalo 14 S.A.
Enel Green Power
São Gonçalo 15 S.A.
19,383
23,747
39,376
22,967
22,663
29,372
15,175
14,234
22,957
15,166
14,008
38,111
32,508
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
(2)
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2021
(2)
%
Represented
by this
investment
on the
individual
assets of
the Parent
Company
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.09%
Production of electricity from
renewable sources
Roberta Bonomi (Gerente
General), Mara Ayesha Lopez
Berrios, Jayme Barg y Camilo
Rebollo
Roberta Bonomi
100.00%
0.12%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios y
Camilo Rebollo Couto
Roberta Bonomi
100.00%
0.19%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios y
Camilo Rebollo Couto
Roberta Bonomi
100.00%
0.12%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios y
Camilo Rebollo Couto
Roberta Bonomi
100.00%
0.06%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios y
Camilo Rebollo Couto
Roberta Bonomi
100.00%
0.16%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios y
Camilo Rebollo Couto
Roberta Bonomi
100.00%
0.09%
Production of electricity from
renewable sources
100.00%
0.09%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez
Berrios, Jean Philipee
Salvatore Bellavia, Luca Ceci y
Camilo Rebollo Couto
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez
Berrios, Jean Philipee
Salvatore Bellavia, Luca Ceci y
Camilo Rebollo Couto
Roberta Bonomi
Roberta Bonomi
100.00%
0.11%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios y
Camilo Rebollo Couto
Roberta Bonomi
100.00%
0.09%
Production of electricity from
renewable sources
100.00%
0.08%
Production of electricity from
renewable sources
100.00%
0.22%
Production of electricity from
renewable sources
100.00%
0.18%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez
Berrios, Jean Philipee
Salvatore Bellavia, Luca Ceci y
Camilo Rebollo Couto
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez
Berrios, Jean Philipee
Salvatore Bellavia, Luca Ceci y
Camilo Rebollo Couto
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios,
Jean Philipee Salvatore Bellavia
y Camilo Rebollo Couto
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios,
Jean Philipee Salvatore Bellavia
y Camilo Rebollo Couto
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Other Corporate Regulatory Information 331
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
on the
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
% Of Enel
Américas’
stake in the
subsidiary
as of
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
12.31.2021
(2)
(2)
%
Represented
by this
investment
individual
assets of
the Parent
Company
Enel Green Power
São Gonçalo 17 S.A.
Closed joint-stock company
Enel Green Power
São Gonçalo 18 S.A.
Closed joint-stock company
Enel Green Power
São Gonçalo 19 S.A.
Closed joint-stock company
Enel Green Power
São Gonçalo 21 S.A.
Closed joint-stock company
Enel Green Power
Sao Gonçalo 22 S.A.
Closed joint-stock company
Enel Green Power
São Judas Eólica S.A.
Closed joint-stock company
Enel Green Power
São Micael 01 S.A.
Closed joint-stock company
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
911, torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary, Teresina, PI, CEP: 64.051-090
64.051-090 Teresina
Brazil
Enel Green Power
São Micael 02 S.A.
Closed joint-stock company
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
911, torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary, Teresina, PI, CEP: 64.051-090
Enel Green Power
São Micael 03 S.A.
Closed joint-stock company
Enel Green Power
São Micael 04 S.A.
Closed joint-stock company
Enel Green Power
São Micael 05 S.A.
Closed joint-stock company
Enel Green Power
Tacaicó Eólica S.A.
Closed joint-stock company
Enel Green Power
Ventos De Santa Ângela 1 S.A.
Closed joint-stock company
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
911, torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary, Teresina, PI, CEP: 64.051-090
64.051-090 Teresina
Brazil
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
911, torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary, Teresina, PI, CEP: 64.051-090
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
332
Integrated Annual Report Enel Américas 2021
31,958
32,313
31,682
25,672
25,456
23,107
0.2
0.2
0.2
0.2
0.2
15,446
24,880
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.17%
renewable sources
Production of electricity from
Mara Ayesha Lopez Berrios,
Roberta Bonomi
100.00%
0.18%
renewable sources
Production of electricity from
Mara Ayesha Lopez Berrios,
Roberta Bonomi
Roberta Bonomi, Jayme Barg,
Jean Philipee Salvatore Bellavia
y Camilo Rebollo Couto
Roberta Bonomi, Jayme Barg,
Jean Philipee Salvatore Bellavia
y Camilo Rebollo Couto
Roberta Bonomi, Jayme Barg,
Jean Philipee Salvatore Bellavia
y Camilo Rebollo Couto
100.00%
0.17%
renewable sources
Production of electricity from
Mara Ayesha Lopez Berrios,
Roberta Bonomi
100.00%
0.11%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios y
Roberta Bonomi
Camilo Rebollo Couto
100.00%
0.13%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios y
Roberta Bonomi
Camilo Rebollo Couto
100.00%
0.18%
energy
Production and sale of wind
Roberta Bonomi, Mara Ayesha
Lopez Berrios y Camilo
Roberta Bonomi
Rebollo Couto
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios,
Luca Ceci, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios,
Luca Ceci, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios,
Luca Ceci, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios,
Luca Ceci, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios,
Luca Ceci, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
100.00%
0.11%
Production of electricity from
renewable sources
Roberta Bonomi, Mara Ayesha
Lopez Berrios y Camilo
Roberta Bonomi
Rebollo Couto
100.00%
0.17%
Production of electricity from
Lopez Berrios, Jean Philipee
renewable sources
Salvatore Bellavia y Camilo
Roberta Bonomi
Roberta Bonomi, Mara Ayesha
Rebollo Couto
Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
Enel Green Power
São Gonçalo 17 S.A.
Enel Green Power
São Gonçalo 18 S.A.
Enel Green Power
São Gonçalo 19 S.A.
Enel Green Power
São Gonçalo 21 S.A.
Enel Green Power
Sao Gonçalo 22 S.A.
Enel Green Power
São Judas Eólica S.A.
Enel Green Power
São Micael 01 S.A.
Enel Green Power
São Micael 03 S.A.
Enel Green Power
São Micael 04 S.A.
Enel Green Power
São Micael 05 S.A.
Enel Green Power
Tacaicó Eólica S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Closed joint-stock company
Parque Vilmary, Teresina, PI, CEP: 64.051-090
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
911, torre 02, Manhattan River Center, São Cristóvão,
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
Closed joint-stock company
Parque Vilmary, Teresina, PI, CEP: 64.051-090
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
911, torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary, Teresina, PI, CEP: 64.051-090
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
911, torre 02, Manhattan River Center, São Cristóvão,
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
São Micael 02 S.A.
Closed joint-stock company
911, torre 02, Manhattan River Center, São Cristóvão,
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
Parque Vilmary, Teresina, PI, CEP: 64.051-090
Enel Green Power
Ventos De Santa Ângela 1 S.A.
Closed joint-stock company
Parque Vilmary
64.051-090 Teresina
Brazil
31,958
32,313
31,682
25,672
25,456
23,107
0.2
0.2
0.2
0.2
0.2
15,446
24,880
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
(2)
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2021
(2)
%
Represented
by this
investment
on the
individual
assets of
the Parent
Company
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.17%
Production of electricity from
renewable sources
100.00%
0.18%
Production of electricity from
renewable sources
100.00%
0.17%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios,
Jean Philipee Salvatore Bellavia
y Camilo Rebollo Couto
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios,
Jean Philipee Salvatore Bellavia
y Camilo Rebollo Couto
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios,
Jean Philipee Salvatore Bellavia
y Camilo Rebollo Couto
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
100.00%
0.11%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios y
Camilo Rebollo Couto
Roberta Bonomi
100.00%
0.13%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios y
Camilo Rebollo Couto
Roberta Bonomi
100.00%
0.18%
Production and sale of wind
energy
Roberta Bonomi, Mara Ayesha
Lopez Berrios y Camilo
Rebollo Couto
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios,
Luca Ceci, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios,
Luca Ceci, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios,
Luca Ceci, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios,
Luca Ceci, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi, Jayme Barg,
Mara Ayesha Lopez Berrios,
Luca Ceci, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
100.00%
0.11%
Production of electricity from
renewable sources
Roberta Bonomi, Mara Ayesha
Lopez Berrios y Camilo
Rebollo Couto
Roberta Bonomi
100.00%
0.17%
Production of electricity from
renewable sources
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi
Other Corporate Regulatory Information 333
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
on the
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
% Of Enel
Américas’
stake in the
subsidiary
as of
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
12.31.2021
(2)
(2)
%
Represented
by this
investment
individual
assets of
the Parent
Company
Enel Green Power
Ventos De Santa Ângela 10 S.A.
Closed joint-stock company
Enel Green Power
Ventos De Santa Ângela 11 S.A.
Closed joint-stock company
Enel Green Power
Ventos De Santa Ângela 14 S.A.
Closed joint-stock company
Enel Green Power
Ventos De Santa Ângela 15 S.A.
Closed joint-stock company
Enel Green Power
Ventos De Santa Ângela 17 S.A.
Closed joint-stock company
Enel Green Power
Ventos De Santa Ângela 19 S.A.
Closed joint-stock company
Enel Green Power
Ventos De Santa Ângela 2 S.A.
Closed joint-stock company
Enel Green Power
Ventos De Santa Ângela 20 S.A.
Closed joint-stock company
Enel Green Power
Ventos De Santa Ângela 21 S.A.
Closed joint-stock company
Enel Green Power
Ventos De Santa Ângela 3 S.A.
Closed joint-stock company
Enel Green Power
Ventos De Santa Ângela 4 S.A.
Closed joint-stock company
Enel Green Power
Ventos De Santa Ângela 5 S.A.
Closed joint-stock company
Enel Green Power
Ventos De Santa Ângela 6 S.A.
Closed joint-stock company
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão, Parque
Vilmary
64.051-090 Teresina
Brazil "
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
334
Integrated Annual Report Enel Américas 2021
28,133
26,668
45,342
33,590
37,260
23,594
45,815
22,793
22,007
22,125
21,623
24,119
22,598
-
-
-
-
-
-
-
-
-
-
-
-
-
Roberta Bonomi, Mara Ayesha
Rebollo Couto
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi, Mara Ayesha
Rebollo Couto
Roberta Bonomi, Mara Ayesha
Rebollo Couto
Roberta Bonomi, Mara Ayesha
Rebollo Couto
100.00%
0.20%
Production of electricity from
Lopez Berrios, Jean Philipee
renewable sources
Salvatore Bellavia y Camilo
Roberta Bonomi
100.00%
0.19%
renewable sources
Production of electricity from
Lopez Berrios, Jean Philipee
Roberta Bonomi, Mara Ayesha
Roberta Bonomi
100.00%
0.30%
Production of electricity from
Lopez Berrios, Jean Philipee
renewable sources
Salvatore Bellavia y Camilo
Roberta Bonomi
100.00%
0.23%
Production of electricity from
Lopez Berrios, Jean Philipee
renewable sources
Salvatore Bellavia y Camilo
Roberta Bonomi
100.00%
0.25%
Production of electricity from
Lopez Berrios, Jean Philipee
renewable sources
Salvatore Bellavia y Camilo
Roberta Bonomi
100.00%
0.16%
renewable sources
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi
Production of electricity from
Lopez Berrios, Jean Philipee
Roberta Bonomi, Mara Ayesha
100.00%
0.30%
renewable sources
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi
Production of electricity from
Lopez Berrios, Jean Philipee
Roberta Bonomi, Mara Ayesha
100.00%
0.16%
renewable sources
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi
Production of electricity from
Lopez Berrios, Jean Philipee
Roberta Bonomi, Mara Ayesha
100.00%
0.15%
renewable sources
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi
Production of electricity from
Lopez Berrios, Jean Philipee
Roberta Bonomi, Mara Ayesha
100.00%
0.15%
renewable sources
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi
Production of electricity from
Lopez Berrios, Jean Philipee
Roberta Bonomi, Mara Ayesha
100.00%
0.15%
renewable sources
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi
Production of electricity from
Lopez Berrios, Jean Philipee
Roberta Bonomi, Mara Ayesha
100.00%
0.17%
renewable sources
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi
Production of electricity from
Lopez Berrios, Jean Philipee
Roberta Bonomi, Mara Ayesha
100.00%
0.16%
renewable sources
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi
Production of electricity from
Lopez Berrios, Jean Philipee
Roberta Bonomi, Mara Ayesha
Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
Enel Green Power
Ventos De Santa Ângela 10 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos De Santa Ângela 11 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos De Santa Ângela 14 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos De Santa Ângela 15 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos De Santa Ângela 17 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos De Santa Ângela 19 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos De Santa Ângela 2 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos De Santa Ângela 20 S.A.
Closed joint-stock company
Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão, Parque
Enel Green Power
Ventos De Santa Ângela 21 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos De Santa Ângela 3 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos De Santa Ângela 4 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos De Santa Ângela 5 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos De Santa Ângela 6 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil "
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
28,133
26,668
45,342
33,590
37,260
23,594
45,815
22,793
22,007
22,125
21,623
24,119
22,598
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
(2)
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2021
(2)
%
Represented
by this
investment
on the
individual
assets of
the Parent
Company
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.20%
Production of electricity from
renewable sources
100.00%
0.19%
Production of electricity from
renewable sources
100.00%
0.30%
Production of electricity from
renewable sources
100.00%
0.23%
Production of electricity from
renewable sources
100.00%
0.25%
Production of electricity from
renewable sources
100.00%
0.16%
Production of electricity from
renewable sources
100.00%
0.30%
Production of electricity from
renewable sources
100.00%
0.16%
Production of electricity from
renewable sources
100.00%
0.15%
Production of electricity from
renewable sources
100.00%
0.15%
Production of electricity from
renewable sources
100.00%
0.15%
Production of electricity from
renewable sources
100.00%
0.17%
Production of electricity from
renewable sources
100.00%
0.16%
Production of electricity from
renewable sources
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Other Corporate Regulatory Information 335
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
on the
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
% Of Enel
Américas’
stake in the
subsidiary
as of
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
12.31.2021
(2)
(2)
%
Represented
by this
investment
individual
assets of
the Parent
Company
Enel Green Power
Ventos De Santa Ângela 7 S.A.
Closed joint-stock company
Enel Green Power
Ventos De Santa Ângela 8 S.A.
Closed joint-stock company
Enel Green Power
Ventos De Santa Ângela 9 S.A.
Closed joint-stock company
Enel Green Power Ventos De
Santa Ângela ACL 12 S.A.
Closed joint-stock company
Enel Green Power Ventos De
Santa Angela Acl 13 S.A.
Closed joint-stock company
Enel Green Power Ventos De
Santa Angela Acl 16 S.A.
Closed joint-stock company
Enel Green Power Ventos De
Santa Angela Acl 18 S.A.
Closed joint-stock company
Enel Green Power Ventos De
Santa Esperança 08 S.A.
Closed joint-stock company
Enel Green Power Ventos De
Santa Esperança 1 S.A.
Closed joint-stock company
Enel Green Power Ventos De
Santa Esperança 13 S.A.
Closed joint-stock company
Enel Green Power Ventos De
Santa Esperança 15 S.A.
Closed joint-stock company
Enel Green Power Ventos De
Santa Esperança 16 S.A.
Closed joint-stock company
Enel Green Power Ventos De
Santa Esperança 17 S.A.
Closed joint-stock company
336
Integrated Annual Report Enel Américas 2021
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão, Parque
Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil "64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil "
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil "
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil "
19,631
23,820
32,163
23,354
20,926
24,114
23,891
9,606
0.2
11,904
20,599
18,101
25,172
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.13%
Production of electricity from
Lopez Berrios, Jean Philipee
renewable sources
Salvatore Bellavia y Camilo
Roberta Bonomi
Roberta Bonomi, Mara Ayesha
Rebollo Couto
100.00%
0.16%
renewable sources
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi
Production of electricity from
Lopez Berrios, Jean Philipee
Roberta Bonomi, Mara Ayesha
100.00%
0.23%
renewable sources
Production of electricity from
Lopez Berrios, Jean Philipee
Roberta Bonomi, Mara Ayesha
Roberta Bonomi
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi, Mara Ayesha
100.00%
0.16%
Production of electricity from
Lopez Berrios, Jean Philipee
renewable sources
Salvatore Bellavia y Camilo
Roberta Bonomi
100.00%
0.15%
Production of electricity from
Lopez Berrios, Jean Philipee
renewable sources
Salvatore Bellavia y Camilo
Roberta Bonomi
Roberta Bonomi, Mara Ayesha
100.00%
0.16%
Production of electricity from
Lopez Berrios, Jean Philipee
renewable sources
Salvatore Bellavia y Camilo
Roberta Bonomi
Roberta Bonomi, Mara Ayesha
Rebollo Couto
Rebollo Couto
Rebollo Couto
100.00%
0.16%
Production of electricity from
renewable sources
Roberta Bonomi, Jean Philipee
Salvatore Bellavia, Luca Ceci y
Roberta Bonomi
Camilo Rebollo Couto
100.00%
0.06%
Production of electricity from
Lopez Berrios, Jean Philipee
renewable sources
Salvatore Bellavia, Luca Ceci y
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.07%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.13%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.11%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.17%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
Roberta Bonomi, Mara Ayesha
Camilo Rebollo Couto,
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
Enel Green Power
Ventos De Santa Ângela 7 S.A.
Closed joint-stock company
Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão, Parque
Enel Green Power
Ventos De Santa Ângela 8 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos De Santa Ângela 9 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power Ventos De
Santa Ângela ACL 12 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
Enel Green Power Ventos De
Santa Angela Acl 13 S.A.
Closed joint-stock company
Enel Green Power Ventos De
Santa Angela Acl 16 S.A.
Closed joint-stock company
Parque Vilmary
Enel Green Power Ventos De
Santa Angela Acl 18 S.A.
Closed joint-stock company
Parque Vilmary
Enel Green Power Ventos De
Santa Esperança 08 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
Enel Green Power Ventos De
Santa Esperança 1 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
Enel Green Power Ventos De
Santa Esperança 13 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
Enel Green Power Ventos De
Santa Esperança 15 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
Enel Green Power Ventos De
Santa Esperança 16 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil "64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil "
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil "
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Enel Green Power Ventos De
Santa Esperança 17 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil "
19,631
23,820
32,163
23,354
20,926
24,114
23,891
9,606
0.2
11,904
20,599
18,101
25,172
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
(2)
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2021
(2)
%
Represented
by this
investment
on the
individual
assets of
the Parent
Company
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.13%
Production of electricity from
renewable sources
100.00%
0.16%
Production of electricity from
renewable sources
100.00%
0.23%
Production of electricity from
renewable sources
100.00%
0.16%
Production of electricity from
renewable sources
100.00%
0.15%
Production of electricity from
renewable sources
100.00%
0.16%
Production of electricity from
renewable sources
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto, Luca Ceci
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia y Camilo
Rebollo Couto
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
100.00%
0.16%
Production of electricity from
renewable sources
Roberta Bonomi, Jean Philipee
Salvatore Bellavia, Luca Ceci y
Camilo Rebollo Couto
Roberta Bonomi
100.00%
0.06%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.07%
Production of electricity from
renewable sources
100.00%
0.13%
Production of electricity from
renewable sources
100.00%
0.11%
Production of electricity from
renewable sources
100.00%
0.17%
Production of electricity from
renewable sources
Roberta Bonomi, Mara Ayesha
Lopez Berrios, Jean Philipee
Salvatore Bellavia, Luca Ceci y
Camilo Rebollo Couto,
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Other Corporate Regulatory Information 337
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
on the
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
% Of Enel
Américas’
stake in the
subsidiary
as of
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
12.31.2021
(2)
(2)
%
Represented
by this
investment
individual
assets of
the Parent
Company
Enel Green Power Ventos De
Santa Esperança 21 S.A.
Closed joint-stock company
Enel Green Power Ventos De
Santa Esperança 22 S.A.
Closed joint-stock company
Enel Green Power Ventos De
Santa Esperança 25 S.A.
Closed joint-stock company
Enel Green Power Ventos De
Santa Esperança 26 S.A.
Closed joint-stock company
Enel Green Power Ventos de
Santa Esperança 3 S.A.
Closed joint-stock company
Enel Green Power Ventos de
Santa Esperança 7 S.A.
Closed joint-stock company
Enel Green Power Ventos De
Santa Esperança
Participações S.A.
Closed joint-stock company
Enel Green Power Ventos de
Santo Orestes 1 S.A.
Closed joint-stock company
Enel Green Power Ventos de
Santo Orestes 2 S.A.
Closed joint-stock company
Enel Green Power Ventos de
São Roque 01 S.A.
Closed joint-stock company
Enel Green Power Ventos de
São Roque 02 S.A.
Closed joint-stock company
Enel Green Power Ventos de
São Roque 03 S.A.
Closed joint-stock company
Enel Green Power Ventos de
São Roque 04 S.A.
Closed joint-stock company
Enel Green Power Ventos de
São Roque 05 S.A.
Closed joint-stock company
338
Integrated Annual Report Enel Américas 2021
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Fazenda Martins Afonso, Rodovia Ba 052, Km 14, Zona
Rural Do Município De Morro Do Chapéu
44.850-000 Salvador
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil "
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
16,944
16,331
8,293
41,158
0.2
0.2
0.2
0.2
0.2
37,062
34,607
0.2
29,260
0.2
-
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.10%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.10%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.05%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.26%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.00%
Parent Company
Roberta Bonomi; Jean Philippe
Salvatore Bellavia; e Luca Ceci
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; e Camillo
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; e Camillo
Roberta Bonomi
100.00%
0.23%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; e Camillo
Roberta Bonomi
100.00%
0.21%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi; Jean Philippe
Salvatore Bellavia; e Camillo
Roberta Bonomi
Rebollo Couto
100.00%
0.18%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; e Camillo
Roberta Bonomi
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Rebollo Couto
Roberta Bonomi; Mara Ayesha
Rebollo Couto
Roberta Bonomi; Mara Ayesha
Rebollo Couto
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Rebollo Couto
Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
Enel Green Power Ventos De
Santa Esperança 21 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
Enel Green Power Ventos De
Santa Esperança 22 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
Enel Green Power Ventos De
Santa Esperança 25 S.A.
Closed joint-stock company
Enel Green Power Ventos De
Santa Esperança 26 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
Enel Green Power Ventos de
Santa Esperança 3 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Fazenda Martins Afonso, Rodovia Ba 052, Km 14, Zona
Rural Do Município De Morro Do Chapéu
44.850-000 Salvador
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Enel Green Power Ventos de
Santa Esperança 7 S.A.
Closed joint-stock company
Rio de Janeiro - RJ
Enel Green Power Ventos De
Santa Esperança
Participações S.A.
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Enel Green Power Ventos de
Santo Orestes 1 S.A.
Closed joint-stock company
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Enel Green Power Ventos de
Santo Orestes 2 S.A.
Closed joint-stock company
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil "
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power Ventos de
São Roque 01 S.A.
Closed joint-stock company
Parque Vilmary
37,062
Enel Green Power Ventos de
São Roque 02 S.A.
Closed joint-stock company
Torre 02, Manhattan River Center, São Cristóvão,
34,607
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Enel Green Power Ventos de
São Roque 03 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power Ventos de
São Roque 04 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power Ventos de
São Roque 05 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Brazil
Brazil
64.051-090 Teresina
Brazil
Parque Vilmary
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
16,944
16,331
8,293
41,158
0.2
0.2
0.2
0.2
0.2
29,260
0.2
0.2
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
(2)
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2021
(2)
%
Represented
by this
investment
on the
individual
assets of
the Parent
Company
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
-
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.10%
Production of electricity from
renewable sources
100.00%
0.10%
Production of electricity from
renewable sources
100.00%
0.05%
Production of electricity from
renewable sources
100.00%
0.26%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
100.00%
0.00%
Parent Company
Roberta Bonomi; Jean Philippe
Salvatore Bellavia; e Luca Ceci
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.23%
Production of electricity from
renewable sources
100.00%
0.21%
Production of electricity from
renewable sources
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; e Camillo
Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; e Camillo
Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; e Camillo
Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi; Jean Philippe
Salvatore Bellavia; e Camillo
Rebollo Couto
Roberta Bonomi
100.00%
0.18%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; e Camillo
Rebollo Couto
Roberta Bonomi
Roberta Bonomi
Other Corporate Regulatory Information 339
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
on the
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
% Of Enel
Américas’
stake in the
subsidiary
as of
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
12.31.2021
(2)
(2)
%
Represented
by this
investment
individual
assets of
the Parent
Company
Enel Green Power Ventos de
São Roque 06 S.A.
Closed joint-stock company
Enel Green Power Ventos de
São Roque 07 S.A.
Closed joint-stock company
Enel Green Power
Ventos de São Roque 08 S.A.
Closed joint-stock company
Enel Green Power
Ventos de São Roque 11 S.A.
Closed joint-stock company
Enel Green Power
Ventos de São Roque 13 S.A.
Closed joint-stock company
Enel Green Power
Ventos de São Roque 16 S.A.
Closed joint-stock company
Enel Green Power
Ventos de São Roque 17 S.A.
Closed joint-stock company
Enel Green Power
Ventos de São Roque 18 S.A.
Closed joint-stock company
Enel Green Power
Ventos de São Roque 19 S.A.
Closed joint-stock company
Enel Green Power
Ventos de São Roque 22 S.A.
Closed joint-stock company
Enel Green Power
Ventos de São Roque 26 S.A.
Closed joint-stock company
Enel Green Power Ventos de
São Roque 29 S.A.
Closed joint-stock company
Enel Green Power
Zeus II - Delfina 8 S.A.
Closed joint-stock company
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
911, torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary, Teresina, PI, CEP: 64.051-090
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Parque Vilmary
64.051-090 Teresina
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297
340
Integrated Annual Report Enel Américas 2021
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
22,970
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.00%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; e Camillo
Roberta Bonomi
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Rebollo Couto
Roberta Bonomi; Mara Ayesha
Rebollo Couto
Roberta Bonomi; Mara Ayesha
Rebollo Couto
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Rebollo Couto
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Rebollo Couto
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; e Camillo Re-
bollo Couto
100.00%
0.00%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; e Camillo
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; e Camillo
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; e Camillo
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; e Camillo
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Lopez Berrios; Jean Philippe
renewable sources
Salvatore Bellavia; Luca Ceci; e
Roberta Bonomi
100.00%
0.00%
renewable sources
Production of electricity from
Lopez Berrios; Jean Philippe
Roberta Bonomi
100.00%
0.16%
Production of electricity from
renewable sources
Roberta Bonomi
Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
Enel Green Power Ventos de
São Roque 06 S.A.
Closed joint-stock company
Parque Vilmary, Teresina, PI, CEP: 64.051-090
Piauí Avenida Senador Area Leão, 2.185, salas 909, 910.
911, torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power Ventos de
São Roque 07 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos de São Roque 08 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos de São Roque 11 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos de São Roque 13 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos de São Roque 16 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos de São Roque 17 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos de São Roque 18 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos de São Roque 19 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos de São Roque 22 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Ventos de São Roque 26 S.A.
Closed joint-stock company
Parque Vilmary
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
64.051-090 Teresina
Brazil
CEP: 20220-297
Enel Green Power Ventos de
São Roque 29 S.A.
Closed joint-stock company
Parque Vilmary
0.2
Avenida Senador Area Leão, 2.185, Salas 909, 910. 911,
Torre 02, Manhattan River Center, São Cristóvão,
Enel Green Power
Zeus II - Delfina 8 S.A.
Closed joint-stock company
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
22,970
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
(2)
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2021
(2)
%
Represented
by this
investment
on the
individual
assets of
the Parent
Company
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
-
-
-
-
-
-
-
-
-
-
-
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; e Camillo
Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; e Camillo
Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; e Camillo
Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; e Camillo
Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; e Camillo
Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
-
-
100.00%
100.00%
0.00%
Production of electricity from
renewable sources
0.16%
Production of electricity from
renewable sources
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; e Camillo Re-
bollo Couto
Roberta Bonomi
Roberta Bonomi
Other Corporate Regulatory Information 341
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
on the
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
% Of Enel
Américas’
stake in the
subsidiary
as of
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
12.31.2021
(2)
(2)
%
Represented
by this
investment
individual
assets of
the Parent
Company
Enel Green Power
Zeus Sul 1 Ltda.
Limited liability company
Enel Green Power
Zeus Sul 2 S.A.
Enel Soluções
Energéticas Ltda.
Closed joint-stock company
Limited liability company
Enelpower Do Brazil Ltda.
Limited liability company
Fazenda Aroeira
Empreendimento de Energia Ltda.
Limited liability company
Fótons de Santo Anchieta
Energias Renováveis S.A.
Closed joint-stock company
Isamu Ikeda Energia S.A.
Closed joint-stock company
Jade Energia Ltda.
Limited liability company
Parque Eólico
Palmas Dos Ventos Ltda.
Limited liability company
Primavera Energia S.A.
Closed joint-stock company
Quatiara Energia S.A.
Closed joint-stock company
Socibe Energia S.A.
Closed joint-stock company
Ventos de Santa Angela
Energias Renováveis S.A.
Closed joint-stock company
Ventos de Santa Esperança
Energias Renováveis S.A.
Closed joint-stock company
Ventos de Santo Orestes Ener-
gias Renováveis S.A.
Closed joint-stock company
Ventos de São Roque Energias
Renováveis S.A.
Closed joint-stock company
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro
20220-297 Rio de Janeiro
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 701,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 701,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 701,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297 Rio de Janeiro Brasi
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
20220-297 Rio de Janeiro Brazil
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
20220-297 Rio de Janeiro Brazil
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
20220-297 Rio de Janeiro Brazil
Brazil
Avenida Tancredo Neves, Nº 1632, Edf. Salvador Trade,
Sala 2014, Caminho Das Árvores
41820-020 Salvador
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
20220-297 Rio de Janeiro Brazil
Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 501,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297.
20220-297 Rio de Janeiro
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 501,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Niemeyer, nº 2000. Bloco 01, Sala
501, parte, Aqwa Corporate, Santo Cristo,
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
20220-297 Rio de Janeiro Brazil
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
20220-297 Rio de Janeiro Brazil
Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
20220-297 Rio de Janeiro Brazil
Brazil
1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to
US$ in accordance with International Accounting Standards
(2) Percentage of economic participation of Enel Américas directly and indirectly through its subsidiaries.
342
Integrated Annual Report Enel Américas 2021
1,254
0.2
7,695
1,021
0.2
89
15,760
737
735
20,642
2,083
10,729
939
397
271
1.795
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Roberta Bonomi; Mara Ayesha
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; e Camillo
Rebollo Couto
100.00%
0.00%
renewable sources
Production of electricity from
Lopez Berrios; Jean Philippe
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi
100.00%
0.05%
Production of electricity from
renewable sources
Roberta Bonomi; Jean Philippe
Salvatore Bellavia; e Luca Ceci
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi; Jean Philippe
Salvatore Bellavia; e Luca Ceci
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia; e Camilo
Rebollo Couto
Roberta Bonomi
100.00%
0.00%
Production of electricity from
Roberta Bonomi; Mara Ayesha
renewable sources
Lopez Berrios; e Jayme Barg
Roberta Bonomi
100.00%
0.07%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
0.13%
Production of electricity from
renewable sources
100.00%
0.01%
Production of electricity from
renewable sources
100.00%
0.06%
Production of electricity from
renewable sources
Roberta Bonomi; Camilo
Rebollo Couto; e Fabio
Destefani Campos
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci;
Jayme Barg; e Camillo Rebollo
Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; e Camillo
Rebollo Couto
Roberta Bonomi; Camilo
Rebollo Couto; e Fabio
Destefani Campos
Roberta Bonomi; Camilo
Rebollo Couto; e Fabio
Destefani Campos
Roberta Bonomi; Camilo
Rebollo Couto; e Fabio
Destefani Campos
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi; Jean Philippe
Salvatore Bellavia; e Luca Ceci
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi; Jean Philippe
Salvatore Bellavia; e Luca Ceci
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi; Mara Ayesha
Lopez Berrios; e Jean Philippe
Salvatore Bellavia
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi; Mara Ayesha
Lopez Berrios; e Jean Philippe
Salvatore Bellavia
Roberta Bonomi
Company name
Legal nature
Address
Subscribed and
paid-up capital (1)
in US$ thousand
Enel Green Power
Zeus Sul 1 Ltda.
Enel Green Power
Zeus Sul 2 S.A.
Enel Soluções
Energéticas Ltda.
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 601, parte, Aqwa Corporate, Santo Cristo,
Limited liability company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Closed joint-stock company
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 601,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro
20220-297 Rio de Janeiro
Brazil
Limited liability company
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 701,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
Enelpower Do Brazil Ltda.
Limited liability company
Fazenda Aroeira
Empreendimento de Energia Ltda.
Limited liability company
CEP: 20220-297
CEP: 20220-297
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 701,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 701,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297 Rio de Janeiro Brasi
Fótons de Santo Anchieta
Energias Renováveis S.A.
Closed joint-stock company
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
20220-297 Rio de Janeiro Brazil
Isamu Ikeda Energia S.A.
Closed joint-stock company
Jade Energia Ltda.
Limited liability company
Parque Eólico
Palmas Dos Ventos Ltda.
Limited liability company
Sala 2014, Caminho Das Árvores
41820-020 Salvador
Primavera Energia S.A.
Closed joint-stock company
Quatiara Energia S.A.
Closed joint-stock company
Socibe Energia S.A.
Closed joint-stock company
CEP: 20220-297
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
20220-297 Rio de Janeiro Brazil
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
20220-297 Rio de Janeiro Brazil
Avenida Tancredo Neves, Nº 1632, Edf. Salvador Trade,
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
20220-297 Rio de Janeiro Brazil
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 501,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
CEP: 20220-297.
20220-297 Rio de Janeiro
Avenida Oscar Niemeyer, nº 2000. Bloco 01, Sala 501,
parte, Aqwa Corporate, Santo Cristo, Rio de Janeiro - RJ,
20220-297 Rio de Janeiro
Brazil
Rio de Janeiro Avenida Niemeyer, nº 2000. Bloco 01, Sala
501, parte, Aqwa Corporate, Santo Cristo,
Ventos de Santa Angela
Energias Renováveis S.A.
Closed joint-stock company
Rio de Janeiro - RJ
20220-297 Rio de Janeiro
Brazil
Ventos de Santa Esperança
Energias Renováveis S.A.
Closed joint-stock company
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
20220-297 Rio de Janeiro Brazil
Ventos de Santo Orestes Ener-
gias Renováveis S.A.
Closed joint-stock company
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
20220-297 Rio de Janeiro Brazil
Ventos de São Roque Energias
Renováveis S.A.
Closed joint-stock company
Rio de Janeiro Avenida Oscar Niemeyer, nº 2000. Bloco
01, Sala 501, parte, Aqwa Corporate, Santo Cristo
20220-297 Rio de Janeiro Brazil
1) Subscribed and paid-up capital used for consolidation purposes, according to conversion of local currencies to
US$ in accordance with International Accounting Standards
(2) Percentage of economic participation of Enel Américas directly and indirectly through its subsidiaries.
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
1,254
0.2
7,695
1,021
0.2
89
15,760
737
735
20,642
2,083
10,729
939
397
271
1.795
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2020
(2)
% Of Enel
Américas’
stake in the
subsidiary
as of
12.31.2021
(2)
%
Represented
by this
investment
on the
individual
assets of
the Parent
Company
Summary corporate purpose
Directors
Chief Executive Officer/
legal representative
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
0.00%
Production of electricity from
renewable sources
0.00%
Production of electricity from
renewable sources
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci; e
Camillo Rebollo Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; e Camillo
Rebollo Couto
Roberta Bonomi
Roberta Bonomi
0.05%
Production of electricity from
renewable sources
Roberta Bonomi; Jean Philippe
Salvatore Bellavia; e Luca Ceci
Roberta Bonomi
0.00%
Production of electricity from
renewable sources
Roberta Bonomi; Jean Philippe
Salvatore Bellavia; e Luca Ceci
Roberta Bonomi
0.00%
Production of electricity from
renewable sources
Jean Philippe Salvatore
Bellavia; e Camilo
Rebollo Couto
Roberta Bonomi
0.00%
Production of electricity from
renewable sources
Roberta Bonomi; Mara Ayesha
Lopez Berrios; e Jayme Barg
Roberta Bonomi
0.07%
Production of electricity from
renewable sources
100.00%
0.00%
Production of electricity from
renewable sources
100.00%
100.00%
100.00%
0.00%
Production of electricity from
renewable sources
0.13%
Production of electricity from
renewable sources
0.01%
Production of electricity from
renewable sources
100.00%
0.06%
Production of electricity from
renewable sources
Roberta Bonomi; Camilo
Rebollo Couto; e Fabio
Destefani Campos
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; Luca Ceci;
Jayme Barg; e Camillo Rebollo
Couto
Roberta Bonomi; Mara Ayesha
Lopez Berrios; Jean Philippe
Salvatore Bellavia; e Camillo
Rebollo Couto
Roberta Bonomi; Camilo
Rebollo Couto; e Fabio
Destefani Campos
Roberta Bonomi; Camilo
Rebollo Couto; e Fabio
Destefani Campos
Roberta Bonomi; Camilo
Rebollo Couto; e Fabio
Destefani Campos
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
Roberta Bonomi
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi; Jean Philippe
Salvatore Bellavia; e Luca Ceci
Roberta Bonomi
100.00%
100.00%
100.00%
0.00%
Production of electricity from
renewable sources
Roberta Bonomi; Jean Philippe
Salvatore Bellavia; e Luca Ceci
Roberta Bonomi
0.00%
Production of electricity from
renewable sources
Roberta Bonomi; Mara Ayesha
Lopez Berrios; e Jean Philippe
Salvatore Bellavia
Roberta Bonomi
0.00%
Production of electricity from
renewable sources
Roberta Bonomi; Mara Ayesha
Lopez Berrios; e Jean Philippe
Salvatore Bellavia
Roberta Bonomi
Other Corporate Regulatory Information 343
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Social Metrics
Governance Metrics
Environmental Metrics
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Metrics 345
Metrics
Social Metrics
Organization diversity
Number of people by
gender
Argentina
Female
Male
Brazil
Female
Male
Chile
Female
Male
Colombia
Female
Male
Costa Rica
Female
Male
Guatemala
Female
Male
Panamá
Female
Male
Peru
Female
Male
Total
Female
Male
Main executives and
other managers
Professionals and
technicians
Employees and others
2021
24
8
16
65
20
45
8
-
8
41
13
28
5
2
3
9
3
6
21
11
10
29
7
22
202
64
138
264
59
205
5,613
1.732
3.881
46
13
33
2,218
749
1,469
18
7
11
85
13
72
35
16
19
960
296
664
9,239
2.885
6,354
3,776
470
3,306
3,192
42
3,150
3
3
-
-
-
-
11
-
11
-
-
-
38
3
35
-
7,020
518
6,502
Total
4,064
537
3,527
8,870
1,794
7,076
57
16
41
2,259
762
1,497
34
9
25
94
16
78
94
30
64
989
303
686
16,461
3,467
12,994
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Integrated Annual Report Enel Américas 2021
Number of people by
nationality
Argentine
Female
Male
Brasilian
Female
Male
Chilean
Female
Male
Colombian
Female
Male
Costa Rican
Female
Male
Guatemalan
Female
Male
Panamanian
Female
Male
Peruvian
Female
Male
Italian
Female
Male
Spanish
Female
Male
Afghan
Female
Male
German
Female
Male
Congolese
Female
Male
Cuban
Female
Male
Honduran
Female
Male
Mexican
Female
Male
Romanian
Female
Male
Salvadoran
Female
Male
South African
Female
Male
Venezuelan
Female
Male
Uruguayan
Female
Male
Total
Main executives and
other managers
24
8
16
65
21
44
7
-
7
36
14
22
7
2
5
6
2
4
20
10
10
18
5
13
10
1
9
6
1
5
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1
-
1
-
-
-
-
-
-
1
-
1
1
-
1
202
2021
Professionals and
technicians
267
62
205
5,595
1,727
3,868
46
10
36
2,211
752
1,459
19
8
11
85
13
72
34
16
18
957
294
663
10
2
8
3
-
3
-
-
-
-
-
-
1
-
1
1
-
1
1
1
-
4
2
2
-
-
-
1
-
1
1
-
1
3
1
2
-
-
-
9,239
Employees and others
3,776
470
3,306
3,190
42
3,148
3
3
-
-
-
-
11
-
11
-
-
-
38
3
35
-
-
-
-
-
-
-
-
-
1
1
-
1
-
1
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
7,020
Total
4,067
540
3,527
8,850
1,790
7,060
56
13
43
2,247
766
1,481
37
10
27
91
15
76
92
29
63
975
299
676
20
3
17
9
1
8
1
1
-
1
-
1
1
-
1
1
-
1
1
1
-
4
2
2
1
-
1
1
-
1
1
-
1
4
1
3
1
-
1
16,461
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Number of people by
range of age
Younger than 30 years
Female
Male
Between 30 and 40 years
Female
Male
Between 41 and 50 years
Female
Male
Between 51 and 60 years
Female
Male
Between 61 and 70 years
Female
Male
Older than 70 years
Female
Male
Total
Main executives and
other managers
Professionals and
technicians
Employees and others
2021
-
-
-
29
10
19
100
38
62
64
15
49
9
1
8
-
-
-
1,239
503
736
3,659
1,213
2,446
2,879
859
2,020
1,197
266
931
261
43
218
4
1
3
202
9,239
2021
539
18
521
2,448
161
2,287
2,341
193
2,148
1,427
126
1,301
251
20
231
14
-
14
7,020
Number of people by job
seniority
Main executives and
other managers
Professionals and
technicians
Employees and others
Less than 3 years
Femenino
Masculino
Between 3 and 6 years
Femenino
Masculino
Between 6 and 9 years
Femenino
Masculino
Between 9 and 12 years
Femenino
Masculino
More than 12 años
Femenino
Masculino
Total
37
14
23
19
4
15
18
6
12
18
6
12
111
34
77
203
2,173
724
1,449
1,432
501
931
1,151
403
748
974
336
638
3,508
921
2,587
9,238
227
28
199
972
46
926
2,095
87
2,008
1,175
104
1,071
2,551
253
2,298
7,020
Total
1,778
521
1,257
6,136
1,384
4,752
5,320
1,090
4,230
2,688
407
2,281
521
64
457
18
1
17
16,461
Total
2,437
766
1,671
2,423
551
1,872
3,264
496
2,768
2,167
446
1,721
6,170
1,208
4,962
16,461
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Integrated Annual Report Enel Américas 2021
Number of people with
different abilities
Main executives and
other managers
Professionals and
technicians
Employees and others
2021
Argentina
Female
Male
Brazil
Female
Male
Colombia
Female
Male
Peru
Female
Male
Central America
Female
Male
Total
Female
Male
1
1
8
2
6
-
-
-
-
9
3
6
15
7
8
73
2
71
5
1
4
4
2
2
1
-
1
98
12
86
Labor formality
Type of contract
Undefined
Fixed term
2021
By work
Task
Female
Male
Total
N°
3,286
12,725
16,011
%
94.8%
97.9%
97.3%
N°
181
269
450
%
5.2%
2.1%
2.7%
N°
-
-
-
70
12
58
219
66
153
-
-
-
-
289
78
211
%
0%
0%
0%
Fee
N°
-
-
-
Job Adaptability
People with
ordinary
working
day
N°
1,301
7,124
8,036
Type of contract
Female
Male
Total
People with
part-time
work days
N°
-
%
38%
55%
19.6%
2021
People
with a labor
adaptability
agreement
%
N°
%
0,0%
-
0%
People in
smartworking
N°
2.166
5.870
8.036
Total
86
20
66
300
70
230
5
1
4
4
2
2
1
-
1
396
93
303
%
0%
0%
0%
%
62%
45%
49%
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Pay equity
Argentina
Women's salary gap by category of functions
Executives
Intermediate management -level 1
Intermediate management -level 2
Intermediate management -level 3
Professionals level 1
Professionals level 2
Professionals level 3
Office workers
Brazil
Women's salary gap by category of functions
Executives
Intermediate management -level 1
Intermediate management -level 2
Intermediate management -level 3
Professionals level 1
Professionals level 2
Professionals level 3
Office workers
Colombia
Women's salary gap by category of functions
Executives
Intermediate management -level 1
Intermediate management -level 2
Intermediate management -level 3
Professionals level 1
Professionals level 2
Professionals level 3
Office workers
Chile
Women's salary gap by category of functions
Executives
Intermediate management -level 1
Intermediate management -level 2
Intermediate management -level 3
Professionals level 1
Professionals level 2
Professionals level 3
Office workers
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Integrated Annual Report Enel Américas 2021
2021
Half
92%
N/A
97%
94%
95%
88%
85%
97%
2021
Half
103%
94%
88%
107%
103%
96%
99%
88%
2021
Half
94%
86%
96%
96%
97%
103%
N/A
94%
2021
Half
N/A
79%
61%
N/A
77%
N/A
N/A
N/A
Median
97%
N/A
96%
92%
88%
83%
87%
98%
Median
122%
104%
88%
111%
105%
95%
103%
92%
Median
97%
92%
98%
100%
94%
102%
N/A
96%
Median
N/A
87%
61%
N/A
60%
N/A
N/A
N/A
Peru
Women's salary gap by category of functions
Executives
Intermediate management -level 1
Intermediate management -level 2
Intermediate management -level 3
Professionals level 1
Professionals level 2
Professionals level 3
Office workers
Costa Rica
Women's salary gap by category of functions
Executives
Intermediate management -level 1
Intermediate management -level 2
Intermediate management -level 3
Professionals level 1
Professionals level 2
Professionals level 3
Office workers
Guatemala
Brecha salarial mujeres
por categoría de funciones
Executives
Intermediate management -level 1
Intermediate management -level 2
Intermediate management -level 3
Professionals level 1
Professionals level 2
Professionals level 3
Office workers
Panama
Women's salary gap by category of functions
Executives
Intermediate management -level 1
Intermediate management -level 2
Intermediate management -level 3
Professionals level 1
Professionals level 2
Professionals level 3
Office workers
2021
Half
114%
110%
89%
100%
94%
91%
87%
92%
2021
Half
85%
N/A
86%
90%
89%
89%
N/A
90%
2021
Half
N/A
80%
116%
109%
100%
114%
N/A
N/A
2021
Half
N/A
N/A
108%
120%
116%
119%
N/A
N/A
Median
114%
110%
89%
100%
94%
91%
87%
92%
Mediana
85%
N/A
86%
90%
89%
89%
N/A
90%
Mediana
N/A
80%
116%
109%
100%
114%
N/A
N/A
Mediana
N/A
N/A
111%
113%
112%
115%
N/A
N/A
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Training
Country
Argentina
Brazil
Chile
Colombia
Peru
Costa Rica
Guatemala
Panama
Total
Horas de capacitación
Total number of people
trained
% Female
% Male
2021
77,663
459,982
1,242
18,516
54,495
3,910
4,607
2,111
622,526
3,054
9,345
97
2,230
955
34
92
38
15,845
24%
12%
24%
54%
30%
26%
17%
8%
16%
76%
88%
76%
46%
70%
74%
83%
92%
84%
Membership in guilds, associations and other organizations
Country
Association
Asociación Argentina de Ética y Compliance Cumplimiento y Control (AAEC)
Asociación de Generadores de Energía Eléctrica de la República Argentina (AGEERA)
Asociación de Distribuidores de Energía Eléctrica de la República Argentina (ADEERA)
Asociación Electrónica Argentina (AEA)
Cámara Argentina de Comercio (CAC)
Cámara de Comercio Italiana en la República Argentina
Cámara de Sociedades Anónimas (CSA)
Argentina
Comité Argentino del Consejo Mundial de la Energía (CACME)
Comité Argentino de la Comisión de Integración Eléctrico Regional (CACIER)
Consejo Empresario Argentino para el Desarrollo Sostenible (CEADS)
Instituto de Auditores Internos de Argentina (IAIA)
Instituto Argentino de la Energía “General Mosconi” (IAE General Mosconi)
Instituto Argentino de Normalización y Certificación (IRAM)
Instituto para el Desarrollo Empresarial de la Argentina (IDEA)
Red Argentina de Pacto Global de Naciones Unidas
Abrinq
ABQV
Abrasce
AB Solar
Asociación Brazilera de Comercializadores de Energía (ABRACEEL)
Asociación Brazilera de Industrias Financieras de Desarrollo (ABDE)
Asociación Brazilera de Distribuidores de Energía Eléctrica (ABRADEE)
Asociación Brazilera de Generadores de Energía (ABRAGE)
Asociación Brazilera de Generadores de Energía Térmica (ABRAGET)
Asociación Brazilera de Productores Independientes de Energía (APINE)
Asociación Brazilera de Vehículos Eléctricos (ABVE)
Cámara Italiana
Comité Brazilero del Pacto Mundial
Instituto Acende Brazil
Instituto ETHOS
Meters & More
GEI Brazile
Asociación Colombiana de Distribuidores de Energía Eléctrica (ASOCODIS)
Asociación Nacional de Empresarios de Colombia (ANDI)
Asociación Nacional de Empresas de Servicios Públicos y Comunicaciones (ANDESCO)
Asociación Colombiana de Generadores de Energía Eléctrica (ACOLGEN)
Asociación Nacional de Empresarios de Colombia (ANDI)
Asociación de Energías Renovables Colombia (SER)
Comisión de Integración Energética Regional (CIER)
Comité Colombiano de la CIER (COCIER)
Comité Asesor de la Planeación de la Transmisión (CAPT)
Consejo Nacional de Operación (CNO)
Corporación Centro de Investigación y Desarrollo Tecnológico (CIDET)
Comité Asesor de Comercialización (CAC)
Consejo Nacional de Operación (CNO)
Sociedad Nacional de Minería, Petróleo y Energía
Cámara Oficial de Comercio de España en el Peru
Cámara de Comercio Italiana del Peru
Asociación para el Progreso de la Dirección
Brazil
Colombia
Peru
Para mayor informacion: https://www.enelamericas.com/es/conocenos/a201609-asociaciones-fundaciones-alianzas.html
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Governance Metrics
Diversity of Board
Number of people by gender
Female
Male
Total
Number of people by age
Between 40 and 50 years
Between 51 and 60 years
Between 61 and 70 years
Older than 70 years
Total
Number of people by job seniority
Less than 3 years
Between 3 and 6 years
More than 12 years
Total
Number of people by nationality
Argentine
Chilenean
Colombian
Spanish
Italian
Total
2021
2
5
7
2021
2
3
1
1
7
2021
2
4
1
7
2021
1
2
1
1
2
7
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Environmental Metrics
Energy Consumption
KPI
Coal
Lignite (brown coal)
Fuel oil
Gas oil (*)
Natural gas
Total fuel consumption
(*) It is assumed as diesel
Emissions
Emissions
Direct Greenhouse Gas Emissions (Scope 1)
Other CO2 emissions from electricity production and other activities
Total direct emissions (Scope 1)
Total specific emissions from net production
Total emissions related to the purchase of energy from the network (scope 2,
based on location)
Total emissions related to the purchase of energy from the network (scope 2,
market-based)
Total indirect emissions (Scope 2)
Total indirect emissions (Scope 3)
Total avoided emissions
Otras atmospheric emissions
SO2 emissions
SO2 emissions (intensity)
NOx emissions
Nox emissions (intensity)
PM emissions
PM emissions (intensity)
Hg emissions (mercury)
Unit
Mtep
Mtep
Mtep
Mtep
Mtep
Mtep
Unit
Thousands
tCO2eq
Thousands
tCO2eq
Thousands
tCo2eq
gCO2eq/kWh
Thousands
tCO2eq
Thousands
tCO2eq
Thousands
tCO2eq
Thousands
tCO2eq
Thousands
tCO2eq
Unit
t
g/Kwheq
t
g/Kwheq
t
g/Kwheq
t
2021
0.07
0.00
0.06
0.11
2.67
2.91
2021
6,977
299
7,276
149
64
658
721
2020
0.20
0.00
0.10
0.004
2.48
2.78
2020
6,826
70
6,896
170
86
463
549
6,001
5,253
22,189
15,480
2021
2,987
0.06
9,328
0.19
206
0.004
-
2020
5,828
0.14
10,551
0.26
314
0.008
-
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Integrated Annual Report Enel Américas 2021
Water management
Water abstraction in water-stressed areas
Water abstraction from scarce water sources (for 2020 only the Fortaleza Plant
is considered)
Total surface water (from wetlands, lakes, rivers)
fresh water (= <1,000 mg / l of total dissolved solids)
other water (> 1,000 mg / l of total dissolved solids)
Extraction of water from non-scarce sources
Total water abstraction from different water-stressed sources
Wastewater (Volume discharged)
Total water used in cooling system
Consumption (Total abstractions - Total discharges)
Water abstraction in areas with no water stress
Water abstraction from scarce water sources
Total surface water (from wetlands, lakes, rivers)
fresh water (= <1,000 mg / l of total dissolved solids)
other water (> 1,000 mg / l of total dissolved solids)
Total groundwater (from wells)
fresh water (= <1,000 mg / l of total dissolved solids)
other water (> 1,000 mg / l of total dissolved solids)
Total water from aqueducts
fresh water (= <1,000 mg / l of total dissolved solids)
other water (> 1,000 mg / l of total dissolved solids)
Total Water withdrawal from different sources without hydric stress
Total water discharge (wastewater)
Total water used in cooling system
Consumption (Total abstractions - Total discharges)
Waste management
KPI
Waste production
Non-hazardous waste
Non-hazardous waste (ashes only)
Non-hazardous waste (excluding ashes)
Recovered ashes
Hazardous residues
Hazardous waste containing PCB
Total waste production
Non-hazardous waste disposal method
Recovery (including energy recovery)
Waste sent to landfill
Incinerated waste and other disposal methods
Total non-hazardous waste recovered
Hazardous waste disposal method
Hazardous waste recycled or sent for recovery
Waste sent to landfill
Incinerated waste and other disposal method
Total hazardous waste recovered
Unit
Millions of m3
Millions of m3
Millions of m3
Millions of m3
Millions of m3
Millions of m3
Millions of m3
Millions of m3
Millions of m3
2021
Millions of m3
Millions of m3
Millions of m3
Millions of m3
Millions of m3
Millions of m3
Millions of m3
Millions of m3
Millions of m3
Millions of m3
Millions of m3
Millions of m3
Millions of m3
Millions of m3
Unit
Tons
Tons
Tons
Tons
Tons
Tons
Tons
Tons
Tons
Tons
%
Tons
Tons
Tons
%
2021
0.49
0.49
0.49
0.00
0.00
0.49
0.09
0.00
0.40
2020
5.88
0.79
0.79
0.00
2.66
2.66
0.00
2.42
2.42
0.00
5.88
2020
0.28
0.28
0.28
0.00
0.01
0.29
0.00
-
0.23
2020
5.21
0.49
0.49
0.00
2.70
2.70
0.00
2.02
2.01
0.01
5.23
884.15
882.09
3.82
1,006.09
1,004.41
3.54
2021
2020
206,918
16
206,903
13,036
1,058
219,954
78,814
128,099
5
38
10,462
1,904
670
80
224,153
7,723
216,430
6,816
806
230,971
203,910
22,170
5.874
91
4,890
335
462
72
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9. Annexes
Consolidated Financial Statements
Press Release
Significant Events
Glossary
Statement of Responsability
Company Information
356
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Consolidated Financial Statements 357
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Consolidated Financial Statements
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Integrated Annual Report Enel Américas 2021
CONTENTS
INDEPENDENT AUDITOR'S REPORT
I.
II. CONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME, BY NATURE
CONSOLIDATED STATEMENT OF EQUITY
CONSOLIDATED STATEMENTS OF CASH FLOWS, DIRECT METHOD
III. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
In thousands of: Description
ThUS$ U.S. Dollar
US$
ThCh$ Chilean peso
CLP
Th€
EUR
Euro
ThARS Argentine peso
ARS
ThBRL Brazilian real
BRL
COP
ThCOP Colombian peso
UF
UTM
UTA
"Unidad de Fomento" Chilean inflation-indexed, Chilean peso denominated monetary unit
"Unidad Tributaria Mensual" a Chilean inflation-indexed monthly tax unit used to define fines, among
other purposes
“Unidad Tributaria Annual” - Chilean annual tax unit. One UTA equals 12 Unidades Tributarias
Mensuales (“UTM”), a Chilean inflation-indexed monthly tax unit used to define fines, among
other purposes.
Consolidated Financial Statements 359
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Opinion
(IFRS).
In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of
Enel Américas S.A. and its subsidiaries as of December 31, 2021 and 2020, and the results of their operations
and their cash flows for the years then ended in accordance with International Financial Reporting Standards
Other matters - Comparative consolidated financial statements as of December 31, 2019 (not including the
consolidated statement of financial position)
The consolidated statement of comprehensive income, consolidated statement of changes in equity and
consolidated statements of cash flows of Enel Américas S.A. and its subsidiaries for the year ended December
31, 2019 (which are presented on a comparative basis in the accompanying financial statements), were audited
by other auditors, who issued an unmodified opinion on the financial statements as of December 31, 2019 in their
report dated February 26, 2020.
Nolberto Pezzati
Santiago, February 25, 2022
KPMG SpA
Independent Auditors’ Report
The Shareholders and Directors of
Enel Américas S.A.:
We have audited the accompanying consolidated financial statements of Enel Américas S.A. and its subsidiaries,
which comprise the consolidated statements of financial position as of December 31, 2021 and 2020, and
the related consolidated statements of comprehensive income, changes in equity and cash flows for the years
then ended, and the related notes to the consolidated financial statements.
Management’s responsibility for the consolidated financial statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in
accordance with International Financial Reporting Standards (IFRS); Such responsibility includes the design,
implementation, and maintenance of
to the preparation and fair presentation of
consolidated financial statements that are free from material misstatement, whether due to fraud or error.
internal control
relevant
Auditor’s responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We
conducted our audits in accordance with Auditing Standards Generally Accepted in Chile. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated
financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
consolidated financial statements. The procedures selected depend on the auditor's judgment, including the
assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or
error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation
the consolidated financial statements in order to design audit procedures that are
and fair presentation of
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
entity's internal control. Accordingly, we do not express such opinion. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by
Management, as well as evaluating the overall presentation of the consolidated financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion.
© 2022 KPMG Auditores Consultores SpA, a Chilean joint-stock company and a member firm of the KPMG global organization of independent member firms affiliated with
KPMG International Limited, a private English company limited by guarantee. All rights reserved.
© 2022 KPMG Auditores Consultores SpA, a Chilean joint-stock company and a member firm of the KPMG global organization of independent member firms affiliated with
KPMG International Limited, a private English company limited by guarantee. All rights reserved.
360
Integrated Annual Report Enel Américas 2021
Opinion
In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of
Enel Américas S.A. and its subsidiaries as of December 31, 2021 and 2020, and the results of their operations
and their cash flows for the years then ended in accordance with International Financial Reporting Standards
(IFRS).
Other matters - Comparative consolidated financial statements as of December 31, 2019 (not including the
consolidated statement of financial position)
The consolidated statement of comprehensive income, consolidated statement of changes in equity and
consolidated statements of cash flows of Enel Américas S.A. and its subsidiaries for the year ended December
31, 2019 (which are presented on a comparative basis in the accompanying financial statements), were audited
by other auditors, who issued an unmodified opinion on the financial statements as of December 31, 2019 in their
report dated February 26, 2020.
Nolberto Pezzati
Santiago, February 25, 2022
KPMG SpA
© 2022 KPMG Auditores Consultores SpA, a Chilean joint-stock company and a member firm of the KPMG global organization of independent member firms affiliated with
KPMG International Limited, a private English company limited by guarantee. All rights reserved.
Consolidated Financial Statements 361
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Consolidated Statements
of Financial Position
As of December 31, 2021 and 2020
(In thousands of U.S. dollars – ThUS$)
ASSETS
CURRENT ASSETS
Cash and cash equivalents
Other current financial assets
Other current non-financial assets
Trade and other receivables, current
Current accounts receivable from related parties
Inventories
Current tax assets
Total current assets other than assets or groups of assets for disposal classified
as held for sale or as held for distribution to owners
Non-current assets or disposal groups held for sale
Total non-current assets other than assets or groups of assets for disposal
classified as held for sale
TOTAL CURRENT ASSETS
NON-CURRENT ASSETS
Other non-current financial assets
Other non-current non-financial assets
Trade and other non-current receivables
Non-current accounts receivable from related parties
Investments accounted for using the equity method
Intangible assets other than goodwill
Goodwill
Property, plant and equipment
Investment property
Right-of-use assets
Deferred tax assets
TOTAL NON-CURRENT ASSETS
TOTAL ASSETS
The accompanying notes are an integral part of these consolidated financial statements.
Note
12-31-2021
12-31-2020
6
7
8
9
10
11
12
7
8
9
10
13
14
15
16
17
18
1,396,253
1,506,993
312,030
828,760
3,711,141
73,759
538,276
201,740
230,279
560,786
3,234,935
46,950
471,433
127,880
7,061,959
6,179,256
520
520
-
-
7,062,479
6,179,256
3,473,176
3,145,421
724,851
26
2,369
4,756,270
1,470,225
12,997,528
6,272
327,953
992,368
2,790,863
2,332,856
578,524
32
2,273
4,524,826
945,512
8,354,672
7,942
222,420
994,382
27,896,459
20,754,302
34,958,938
26,933,558
362
Integrated Annual Report Enel Américas 2021
Consolidated Statements of Financial
Position (continued)
As of December 31, 2021 and 2020
(In thousands of U.S. dollars – ThUS$)
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Other current financial liabilities
Current lease liabilities
Trade and other payables, current
Current accounts payable to related parties
Other current provisions
Current tax liabilities
Other current non-financial liabilities
TOTAL CURRENT LIABILITIES
NON-CURRENT LIABILITIES
Other non-current financial liabilities
Non-current lease liabilities
Trade payables, non-current
Non-current accounts payable to related parties
Other long-term provisions
Deferred tax liabilities
Non-current provisions for employee benefits
Other non-current non-financial liabilities
TOTAL NON-CURRENT LIABILITIES
TOTAL LIABILITIES
EQUITY
Share and paid-in capital
Retained earnings
Treasury shares in portfolio
Other reserves
Equity attributable to shareholders of Enel Américas
Non-controlling interests
TOTAL EQUITY
TOTAL LIABILITIES AND EQUITY
The accompanying notes are an integral part of these consolidated financial statements.
Note
12-31-2021
12-31-2020
19
20
23
10
24
12
8
19
20
23
10
24
18
25
8
26.1.1
26.5
26.6
1,232,834
60,687
4,912,130
955,707
164,844
183,060
286,272
7,795,534
4,917,583
187,891
2,689,067
1,062,498
838,819
879,400
1,423,481
134,572
12,133,311
19,928,845
15,799,499
5,768,691
(272)
(8,735,261)
12,832,657
2,197,436
15,030,093
34,958,938
1,825,130
51,495
4,093,576
597,122
220,425
222,870
266,604
7,277,222
3,837,706
91,070
2,061,475
144,391
833,900
612,953
1,624,217
116,961
9,322,673
16,599,895
9,763,078
5,415,698
-
(7,072,917)
8,105,859
2,227,804
10,333,663
26,933,558
Consolidated Financial Statements 363
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Consolidated Statements of
Comprehensive Income, by Nature
For the years ended December 31, 2021, 2020 and 2019
(In thousands of U.S. dollars – ThUS$)
STATEMENTS OF PROFIT (LOSS)
Note
2021
Restated 2020 (*)
Restated 2019 (*)
Revenue
Other income, by nature
Revenues and Other income, by nature
Raw materials and consumables used
Contribution Margin
Other work performed by the entity and
capitalized
Employee benefits expenses
Depreciation and amortization expense
Impairment (loss) reversal recognized in profit
or loss
Impairment (loss) impairment gain and
reversal of impairment loss determined in
accordance with IFRS 9
Other expense, by nature
Operating income
Other gains (losses)
Finance income
Finance costs
Share of profit (loss) of associates and joint
ventures accounted for using the equity
method
Foreign currency translation differences
Gains (losses) from indexed assets and
liabilities
Profit (loss) before taxes
Income tax expense
PROFIT (LOSS)
PROFIT (LOSS)
Profit (loss) attributable to
27
27
28
29
30
30
30
31
32
32
13
32
32
18
Profit (loss) attributable to owners of the parent
Profit (loss) attributable to non-controlling
interests
26.6
14,535,024
1,657,312
16,192,336
(10,451,383)
5,740,953
11,238,976
1,052,769
12,291,745
(7,555,915)
4,735,830
13,053,376
1,334,081
14,387,457
(8,541,023)
5,846,434
210,552
147,151
181,565
(729,902)
(993,096)
(100,057)
(565,046)
(858,099)
-
(809,753)
(948,330)
2,126
(345,172)
(242,372)
(279,125)
(1,119,232)
2,664,046
3,218
295,442
(1,052,065)
1,181
(1,065,278)
2,152,186
4,671
222,406
(768,453)
3,133
(1,150,709)
2,842,208
14,196
376,316
(1,088,631)
583
(1,686)
30,667
57,171
76,698
136,960
124,477
1,940,803
(806,292)
1,134,511
1,134,511
740,859
393,652
1,747,812
(566,560)
1,181,252
1,181,252
825,197
356,055
2,406,109
(236,346)
2,169,763
2,169,763
1,614,085
555,678
Profit (loss)
1,134,511
1,181,252
2,169,763
Basic earnings per share
Basic earnings (losses) per share
Weighted average number of outstanding
shares
Diluted earnings per share
Diluted earnings (losses) per share
Weighted average number of outstanding
shares
(*) See Note 2.2.c
US$ / share
Thousands
US$ / share
Thousands
0,00744
99,587,960
0,01085
76,086,311
0,02465
65,480,641
0,00744
99,587,960
0,01085
76,086,311
0,02465
65,480,641
The accompanying notes are an integral part of these consolidated financial statements.
364
Integrated Annual Report Enel Américas 2021
Consolidated Statements of
Comprehensive Income, by Nature
(continued)
For the years ended December 31, 2021, 2020 and 2019
(In thousands of U.S. dollars – ThUS$)
STATEMENTS OF COMPREHENSIVE INCOME
Profit (loss) from defined benefit plans
Gains (losses)
Other comprehensive income that will not be reclassified
subsequently to profit or loss
Components of other comprehensive income that will be
reclassified subsequently to profit or loss before taxes
Note
25
For the years ended December 31,
2021
Restated 2020 (*)
Restated 2019 (*)
1,134,511
9,312
9,312
1,181,252
(476,805)
(476,805)
2,169,763
(576,143)
(576,143)
Losses (gains) from foreign currency translation difference
2.9
(1,193,451)
(2,249,915)
Losses (gains) from measuring financial assets at fair value
through other comprehensive income
Gains (losses) from cash flow hedges
Adjustments from reclassification of cash flow hedges,
transferred to profit or loss
Other comprehensive income that will be reclassified
subsequently to profit or loss
Total components of other comprehensive loss (income)
before taxes
Income tax related to components of other comprehensive
income that will not be reclassified subsequently to profit or loss
Income tax related to defined benefit plans
Income tax related to components of other comprehensive
(loss) income that will not be reclassified subsequently to
profit or loss
Income tax related to components of other comprehensive
income that will not be reclassified subsequently to profit or loss
Income tax related to cash flow hedge
Income tax related to components of other comprehensive
income that will be reclassified subsequently to profit or loss
(9)
18,205
2,570
(10)
(15,547)
2,571
(765,005)
(598)
6,100
(194)
(1,172,685)
(2,262,901)
(759,697)
(1,163,373)
(2,739,706)
(1,335,840)
(3,023)
(3,023)
161,766
161,766
195,098
195,098
(8,826)
(8,826)
5,038
5,038
(2,165)
(2,165)
Total Other Comprehensive Income (Loss)
(1,175,222)
(2,572,902)
(1,142,907)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)
(40,711)
(1,391,650)
1,026,856
Comprehensive income (loss) attributable to:
Owners of Enel Américas
Non-controlling interests
TOTAL COMPREHENSIVE INCOME (LOSS)
(*) See Note 2.2.c
The accompanying notes are an integral part of these consolidated financial statements.
(131,803)
91,092
(40,711)
(1,521,532)
129,882
623,512
403,344
(1,391,650)
1,026,856
Consolidated Financial Statements 365
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Consolidated Statements of Changes
in Equity
For years ended December 31, 2021, 2020 and 2019
(In thousands of U.S. dollars – ThUS$)
Changes in Other Reserves
Changes in Other Reserves
Reserve for
Exchange
Differences
in
Translation
(2)
Reserves for
Cash Flow
Hedges
(4,308,296)
(9,383)
-
-
-
-
Reserve for
Gains
and Losses
for
Defined
Benefit
Plans
-
-
-
(881,898)
9,809
(568)
(872,662)
Consolidated Statement of Changes in Equity
Equity at beginning of period 1-1-2021
Changes in equity
Comprehensive income:
Profit (loss)
Other comprehensive income (loss)
Comprehensive income
Share issuance
Dividends
Increase (decrease) due to other movements
Increase (decrease) through treasury share
transactions
Total movements in equity
Equity at end of period 12-31-2021
Share and
paid-in
capital (1)
9,763,078
-
-
-
-
6,036,421
-
-
-
6,036,421
15,799,499
Treasury
Shares
-
-
-
-
-
-
-
-
(272)
(272)
(272)
-
-
-
-
-
-
-
-
-
-
(881,898)
(5,190,194)
9,809
426
Equity at beginning of period 1-1-2020
9,783,875
-
(2,283,155)
(1,334)
Changes in equity
Comprehensive income
Profit (loss)
Other comprehensive income (loss)
Comprehensive income (loss)
Dividends
Increase (decrease) due to other movements
Total movements in equity
Equity at end of period 12-31-2020
-
-
-
-
(20,797)
(20,797)
9,763,078
Equity at beginning of period 1-1-2019
6,763,204
Changes in equity
Comprehensive income
Profit (loss)
Other comprehensive income (loss)
Comprehensive income
Share issuance
Dividends
Increase (decrease) due to other movements
Total movements in equity
Equity at end of period 12-31-2019
(1) See Note 26.1
(2) See Note 26.2
(3) See Note 26.5
(4) See Note 26.6
-
-
-
3,020,671
-
-
3,020,671
9,783,875
366
Integrated Annual Report Enel Américas 2021
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
568
-
-
-
-
-
-
-
(2,025,141)
(8,049)
(313,534)
-
-
-
-
-
-
-
-
313,534
(2,025,141)
(4,308,296)
(8,049)
(9,383)
(1,666,109)
(5,094)
-
(617,046)
-
3,760
-
-
-
-
-
-
-
-
(617,046)
(2,283,155)
3,760
(1,334)
-
-
-
-
(376,997)
-
-
-
376,997
-
-
-
-
(5)
-
-
-
-
-
-
(5)
-
-
-
(5)
Reserve for
Gains and
Losses on
Remeasuring
Financial
Asset at Fair
Value of Other
Other
Comprehensive
Miscellaneous
Income
Reserves
Total Other
Reserves (3)
Retained
Earnings
Américas
Interests (4)
Total Equity
(692)
(2,754,546)
(7,072,917)
5,415,698
8,105,859
2,227,804
10,333,663
Equity
Attributable
to Owners
Non-Contro-
of Enel
lling
740,859
(387,298)
(568)
-
-
-
-
-
-
740,859
(872,662)
(131,803)
6,036,421
(387,298)
(790,250)
(272)
393,652
(302,560)
91,092
(534,870)
413,410
-
-
-
-
1,134,511
(1,175,222)
(40,711)
6,036,421
(922,168)
(376,840)
(272)
(790,250)
(789,682)
(5)
(697)
(790,250)
(1,662,344)
352,993
4,726,798
(30,368)
4,696,430
(3,544,796)
(8,735,261)
5,768,691
12,832,657
2,197,436
15,030,093
(687)
(3,006,823)
(5,291,999)
5,474,411
9,966,287
2,279,899
12,246,186
(2,346,729)
252,277
252,277
565,811
(1,780,918)
(7,072,917)
825,197
825,197
-
-
(570,376)
(313,534)
(2,346,729)
(1,521,532)
(570,376)
231,480
(58,713)
(1,860,428)
356,055
(226,173)
129,882
(306,309)
124,332
(52,095)
1,181,252
(2,572,902)
(1,391,650)
(876,685)
355,812
(1,912,523)
(692)
(2,754,546)
5,415,698
8,105,859
2,227,804
10,333,663
(397)
(3,209,283)
(4,880,883)
4,841,687
6,724,008
2,107,892
8,831,900
(290)
-
-
-
-
-
(290)
(687)
1,614,085
1,614,085
(990,573)
-
-
-
(604,364)
(376,997)
632,724
(990,573)
623,512
3,020,671
(604,364)
202,460
3,242,279
9,966,287
555,678
(152,334)
403,344
-
(289,052)
57,715
172,007
2,169,763
(1,142,907)
1,026,856
3,020,671
(893,416)
260,175
3,414,286
202,460
202,460
579,457
(411,116)
(3,006,823)
(5,291,999)
5,474,411
2,279,899
12,246,186
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Changes in Other Reserves
Changes in Other Reserves
Reserve for
Gains and
Losses on
Remeasuring
Financial
Asset at Fair
Value of Other
Comprehensive
Income
Other
Miscellaneous
Reserves
Total Other
Reserves (3)
Retained
Earnings
Equity
Attributable
to Owners
of Enel
Américas
Non-Contro-
lling
Interests (4)
Total Equity
Equity at beginning of period 1-1-2021
(4,308,296)
(9,383)
(692)
(2,754,546)
(7,072,917)
5,415,698
8,105,859
2,227,804
10,333,663
Consolidated Statement of Changes in Equity
Changes in equity
Comprehensive income:
Profit (loss)
Other comprehensive income (loss)
Comprehensive income
Share issuance
Dividends
Increase (decrease) due to other movements
Increase (decrease) through treasury share
transactions
Total movements in equity
Equity at end of period 12-31-2021
Changes in equity
Comprehensive income
Profit (loss)
Other comprehensive income (loss)
Comprehensive income (loss)
Dividends
Increase (decrease) due to other movements
Total movements in equity
Equity at end of period 12-31-2020
Changes in equity
Comprehensive income
Profit (loss)
Other comprehensive income (loss)
Comprehensive income
Share issuance
Dividends
Increase (decrease) due to other movements
Total movements in equity
Equity at end of period 12-31-2019
6,036,421
15,799,499
(881,898)
(5,190,194)
9,809
426
(272)
(272)
(272)
Share and
paid-in
capital (1)
9,763,078
6,036,421
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Reserve for
Exchange
Differences
Translation
Treasury
Shares
in
(2)
Reserves for
Cash Flow
Hedges
Reserve for
Gains
and Losses
for
Defined
Benefit
Plans
(881,898)
9,809
(568)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
568
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Equity at beginning of period 1-1-2020
9,783,875
-
(2,283,155)
(1,334)
(687)
(3,006,823)
(5,291,999)
5,474,411
9,966,287
2,279,899
12,246,186
(2,025,141)
(8,049)
(313,534)
(20,797)
(20,797)
9,763,078
(2,025,141)
(4,308,296)
(8,049)
(9,383)
313,534
-
(5)
-
-
-
(5)
-
-
-
-
252,277
252,277
(692)
(2,754,546)
(2,346,729)
-
-
565,811
(1,780,918)
(7,072,917)
-
825,197
825,197
-
-
(570,376)
(313,534)
(2,346,729)
(1,521,532)
(570,376)
231,480
(58,713)
(1,860,428)
356,055
(226,173)
129,882
(306,309)
124,332
(52,095)
1,181,252
(2,572,902)
(1,391,650)
(876,685)
355,812
(1,912,523)
5,415,698
8,105,859
2,227,804
10,333,663
Equity at beginning of period 1-1-2019
6,763,204
(1,666,109)
(5,094)
(397)
(3,209,283)
(4,880,883)
4,841,687
6,724,008
2,107,892
8,831,900
3,020,671
3,020,671
9,783,875
(617,046)
3,760
(376,997)
(617,046)
(2,283,155)
3,760
(1,334)
376,997
-
(290)
-
-
-
-
(290)
(687)
(990,573)
-
-
-
-
1,614,085
1,614,085
-
-
-
(604,364)
(376,997)
632,724
(990,573)
623,512
3,020,671
(604,364)
202,460
3,242,279
9,966,287
202,460
202,460
579,457
(411,116)
(3,006,823)
(5,291,999)
5,474,411
-
-
(5)
-
-
-
-
-
(5)
(697)
(872,662)
-
-
-
-
-
-
740,859
-
-
-
(387,298)
(568)
-
-
740,859
(872,662)
(131,803)
6,036,421
(387,298)
(790,250)
(272)
-
393,652
(302,560)
91,092
-
1,134,511
(1,175,222)
(40,711)
-
6,036,421
(534,870)
413,410
-
(922,168)
(376,840)
(272)
(790,250)
(789,682)
-
-
(790,250)
(1,662,344)
352,993
4,726,798
(30,368)
4,696,430
(3,544,796)
(8,735,261)
5,768,691
12,832,657
2,197,436
15,030,093
-
-
-
-
-
-
-
-
-
-
-
555,678
(152,334)
403,344
-
(289,052)
57,715
172,007
2,169,763
(1,142,907)
1,026,856
3,020,671
(893,416)
260,175
3,414,286
2,279,899
12,246,186
Consolidated Financial Statements 367
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Consolidated Statements of Cash
Flows, Direct
For the years ended December 31, 2021, 2020 and 2019
(In thousands of U.S. dollars – ThUS$)
Consolidated Statements of Cash Flows, Direct Method
Cash flows from (used in) operating activities
Collections from the sale of goods and services
Collections from royalties, payments, commissions, and other revenue
Collections from premiums and services, annual payments, and other benefits
from policies held
Other collections from operating activities
Payments to suppliers for goods and services
Payments to and on behalf of employees
Payments of premiums and services, annual payments, and other obligations from
policies held
Note
For the years ended December 31,
2021
2020
2019 (*)
19,737,179
14,770,122
18,408,759
54,073
11,675
36,171
28,364
38,223
26,940
700,664
1,269,911
828,859
(11,673,564)
(8,185,560)
(9,343,478)
(718,763)
(12,624)
(731,887)
(13,014)
(867,683)
(11,723)
Other payments for operating activities
6.c
(4,479,954)
(4,013,788)
(5,723,433)
Interests paid
Cash flows from (used in) operating activities
Income taxes paid
Other cash inflows (outflows)
Net cash flows from (used in) operating activities
Cash flows from (used in) investing activities
Cash flows used in the purchase of non-controlling interests
Other collections from the sale of equity or debt instruments belonging to other
entities
(17)
(4,675)
(8,343)
(720,829)
(282,264)
(527,952)
(202,182)
(561,805)
(258,805)
2,615,576
2,425,510
2,527,511
-
-
(97,517)
1,248,281
176,383
284,939
Other payments to acquire equity or debt instruments of other entities
(1,265,183)
(215,626)
(245,390)
Loans to related entities
Purchases of property, plant and equipment
Purchases of intangible assets
Payments from future, forward, option and swap contracts
Collections from future, forward, option and swap contracts
Collections from related entities
Dividends received
Interest received
(48,545)
(1,841,204)
(1,170,407)
(22,787)
43,544
82,597
1,089
28,693
Other inflows (outflows) of cash, net
6.d
1,009,625
-
-
(813,827)
(739,664)
(5,070)
21,037
(891,599)
(767,291)
(3,909)
14,981
-
-
2,120
43,400
(4,369)
1,521
111,730
(7,263)
Net cash flows used in investing activities
(1,934,297)
(1,535,616)
(1,599,798)
368
Integrated Annual Report Enel Américas 2021
Cash flows from (used in) financing activities
Proceeds from issuance of shares
Payments for acquiring treasury shares
Payments for other equity interests
Total proceeds from loans
Proceeds from long-term loans
Proceeds from short-term loans
Loans from related parties
Payment of borrowings
Payment of lease liabilities
Payment of loans to related parties
Dividends paid
Interest paid
Other cash inflows (outflows)
Net cash flows used in financing activities
Net increase (decrease) in cash and cash equivalents before effect of exchange
rate changes
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period
Note
For the years ended December 31,
2021
2020
2019 (*)
26.1.1
6.e
6.e
6.e
6.e
6.e
6.e
6.e
6
6
-
(282)
(29,547)
-
-
-
2,999,874
-
-
2,727,331
1,646,135
4,898,823
1,670,872
437,284
1,164,306
1,056,459
1,208,851
3,734,517
1,274,799
295,299
-
(2,858,855)
(1,775,865)
(4,782,344)
(65,009)
(445,257)
(77,292)
(59,177)
-
(2,662,433)
(962,959)
(1,057,692)
(338,978)
104,007
(326,703)
109,583
(723,983)
(614,599)
120,935
(594,750)
(1,186,535)
(822,904)
86,529
(296,641)
104,809
(197,269)
(135,363)
(70,097)
(110,740)
(432,004)
34,712
1,506,993
1,938,997
1,904,285
1,396,253
1,506,993
1,938,997
The accompanying notes are an integral part of these consolidated financial statements.
Consolidated Financial Statements 369
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NOTE 3. ACCOUNTING POLICIES
2.4.1. Changes in the scope of consolidation
2.4.2. Consolidated companies with an economic equity interest of less than 50%
a) Property, plant and equipment
b) Investment property
c) Goodwill
d) Intangible assets other than goodwill
2.1. Accounting principles
2.2. New accounting pronouncements
2.3. Responsibility for the information, judgments and estimates provided
2.4. Subsidiaries
2.5. Investments in associates
2.6. Joint arrangements
2.7. Basis of consolidation and business combinations
2.8. Functional Currency
2.9. Conversion of financial statements denominated in foreign currency
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
372
NOTE 1. GENERAL INFORMATION
NOTE 2. BASIS OF PRESENTATION OF THE CONSOLIDATED FINANCIAL STATEMENTS
372
372
373
378
378
379
379
379
380
380
381
382
383
383
385
385
385
386
387
387
387
389
389
390
390
390
391
391
392
392
393
394
394
394
395
395
g.1) Financial assets other than derivatives
g.2) Cash and cash equivalents
g.3) Impairment of financial assets
g.4) Financial liabilities other than derivatives
g.5) Derivative financial instruments and hedge accounting
g.6) Derecognition of financial assets and liabilities
g.7) Offsetting of financial assets and financial liabilities
g.8) Financial guarantee contracts
d.1) Concessions
d.2) Research and development expenses
d.3) Other intangible assets
e) Impairment of non-financial assets
f) Leases
g) Financial instruments
f.1) Lessee
f.2) Lessor
h) Fair value measurement
i) Investments accounted for using the equity method
j) Inventories
k) Non-current assets (or disposal groups of assets) held for sale or held for distribution to owners
and discontinued operations
l) Treasury shares
m) Provisions
m.1) Provisions for post-employment benefits and similar obligations
n) Translation of balances in foreign currency
o) Classification of balances as current or non-current
p) Income taxes
q) Revenue and expense recognition
r) Earnings per share
s) Dividends
t) Share issuance costs
u) Statement of cash flows
NOTA 4. SECTOR REGULATION AND ELECTRICITY SYSTEM OPERATIONS
i. Regulatory Framework:
ii. Limits on integration and concentration
iii. Unregulated customers market
NOTA 5. BUSINESS COMBINATION UNDER COMMON CONTROL
NOTE 6. CASH AND CASH EQUIVALENTS
NOTE 7. OTHER FINANCIAL ASSETS
NOTE 8. OTHER NON-FINANCIAL ASSETS AND LIABILITIES
NOTE 9. TRADE AND OTHER RECEIVABLES
NOTE 10. BALANCES AND TRANSACTIONS WITH RELATED PARTIES
10.1 Balances and transactions with related parties
a) Receivables from related companies
b) Accounts payable to related companies
c) Significant transactions and effects on profit or loss:
d) Significant transactions of Enel Américas:
10.2 Board of directors and key management personnel
a) Accounts receivable and payable and other transactions
b) Guarantees given by the Company in favor of the directors
c) Compensation for directors
370
Integrated Annual Report Enel Américas 2021
395
396
396
397
397
397
397
398
399
400
400
400
401
401
414
414
415
417
419
419
421
424
424
424
426
430
431
433
433
433
433
10.3 Compensation of key management personnel
a) Remunerations received by key management personnel
b) Guarantees established by the Company in favor of key management personnel
10.4 Compensation plans linked to share price
NOTE 11. INVENTORIES
NOTE 12. CURRENT TAX ASSETS AND LIABILITIES
NOTE 13. INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD
13.1 Investments accounted for using the equity method
NOTE 14. INTANGIBLE ASSETS OTHER THAN GOODWILL
NOTE 15. GOODWILL
NOTE 16. PROPERTY, PLANT AND EQUIPMENT
NOTE 17. RIGHT-OF-USE ASSETS
NOTE 18. INCOME TAX AND DEFERRED TAXES
a) Income taxes
b) Deferred taxes
NOTE 19. OTHER FINANCIAL LIABILITIES
a) Interest-bearing borrowings.
b) Unsecured bonds
c) Secured bonds
d) Hedged debt
e) Other information
f) Future undiscounted debt flows
NOTE 20. LEASE LIABILITIES
20.1 Individualization of Lease Liabilities
20.2 Undiscounted debt cash flows
NOTE 21. RISK MANAGEMENT POLICY
NOTE 22. FINANCIAL INSTRUMENTS
22.1 Financial instruments, classified by type and category
22.2 Derivative instruments
22.3 Fair value hierarchies
NOTE 23. CURRENT AND NON-CURRENT PAYABLES
NOTE 24. PROVISIONS
NOTE 25. POST-EMPLOYMENT BENEFIT OBLIGATIONS
25.1 General information
25.2 Details, changes and presentation in financial statements
25.3 Other disclosures:
NOTE 26. EQUITY
26.1 Equity attributable to the shareholders of Enel Américas
26.2 Foreign currency translation reserves
26.3 Capital Management
26.4 Restrictions on subsidiaries transferring funds to the parent (equity note)
26.5 Other reserves
26.6 Non-controlling Interests
NOTE 27. REVENUE AND OTHER OPERATING INCOME
NOTE 28. RAW MATERIALS AND CONSUMABLES USED
NOTE 29. EMPLOYEE BENEFITS EXPENSE
NOTE 30. DEPRECIATION, AMORTIZATION AND IMPAIRMENT LOSSES OF PROPERTY, PLANT AND EQUIPMENT
435
435
435
436
436
436
437
437
438
440
442
444
446
446
447
450
450
460
470
474
474
474
475
476
482
482
486
486
487
489
490
491
492
492
493
496
498
498
500
500
500
500
503
503
504
504
AND FINANCIAL ASSETS UNDER-IFRS 9
34.1 Direct guarantees
34.2 Indirect guarantees
34.3 Litigation and Arbitration Proceedings
34.4 Financial restrictions
34.5 COVID-19 contingency
34.6 Other Information
NOTE 31. OTHER EXPENSE, BY NATURE
NOTE 32. FINANCIAL RESULTS
NOTE 33. INFORMATION BY SEGMENT
33.1 Basis of segmentation
33.2 Generation and transmission, distribution and others
33.3 Segment information by country
33.4 Generation and Transmission, and Distribution by Country
505
505
506
508
508
510
514
518
NOTE 34. GUARANTEES WITH THIRD PARTIES, CONTINGENT ASSETS AND, LIABILITIES, AND OTHER COMMITMENTS 526
526
527
528
537
541
542
544
544
548
554
558
560
564
566
568
572
574
NOTE 35. HEADCOUNT
NOTE 36. SANCTIONS
NOTE 37. ENVIRONMENT
NOTE 38. FINANCIAL INFORMATION ON SUBSIDIARIES, SUMMARIZED
NOTE 39. SUBSEQUENT EVENTS
APPENDIX NO. 1 COMPANIES FROM THE ENEL AMERICAS GROUP
APPENDIX NO. 2 DETAIL OF ASSETS AND LIABILITIES IN FOREIGN CURRENCY
APPENDIX NO.3 ADDITIONAL INFORMATION OFFICIAL BULLETIN NO. 715 OF FEBRUARY 3, 2012
APPENDIX NO. 3.1 SUPPLEMENTARY INFORMATION ON TRADE RECEIVABLES
APPENDIX 3.2 ESTIMATED SALES AND PURCHASES OF CAPACITY AND TOLL
APPENDIX NO. 4 DETAIL OF DUE DATES OF PAYMENTS TO SUPPLIERS
Consolidated Financial Statements 371
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NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2021 AND 2020 AND FOR THE YEARS ENDED DECEMBER 31, 2021, 2020 AND 2019.
(In thousands of U.S. dollars – ThUS$)
NOTE 1. General information
Enel Américas S.A. (hereinafter “Enel Américas”, the “Company” or the “Parent Company”) and its subsidiaries comprise the
Enel Américas Group (hereinafter the “Group”).
The Company is a publicly traded corporation with registered address and head office located at Avenida Santa Rosa, No. 76, in
Santiago, Chile. The Company is registered with the securities register of the Financial Market Commission of Chile, hereinafter
“CMF”, under number 0175. In addition, the Company is registered with the Securities and Exchange Commission of the United
States of America (hereinafter the “U.S. SEC”) and its shares have been listed on the New York Stock Exchange since 1993.
The Company is a subsidiary of Enel S.p.A. (hereinafter “Enel”), an entity that owns a 82.3% interest.
The Company was initially incorporated in 1981 under the corporate name Compañía Chilena Metropolitana de Distribución
Eléctrica S.A. Subsequently, on August 1, 1988 the Company became Enersis S.A., by means of an amendment to the articles
of incorporation. Within the context of the reorganization process carried out by the Group, on March 1, 2016, the Company
became Enersis Américas S.A. On December 1, 2016, the corporate name was changed from Enersis Américas S.A. to Enel
Américas S.A. For tax purposes, the Company operates under Chilean tax identification number 94.271.000-3.
The Group recorded a staff of 16,461 employees as of December 31, 2021. On average, during the period 2021 the
Group had 16,780 employees. For more information regarding the distribution of our employees, by category and geographic
location, see Note 35.
The Company’s corporate purpose consists of exploring for, developing, operating, generating, distributing, transmitting,
transforming, and/or selling energy of any kind or form, whether in Chile or abroad, either directly or through other companies.
It is also engaged in telecommunications activities, and it provides engineering consulting services in Chile and abroad. The
Company’s corporate purpose also includes investing in, and managing, its investments in subsidiaries and associates which
generate, transmit, distribute, or sell electricity, or whose corporate purpose includes any of the following:
(i)
(ii)
(iii)
(iv)
Energy of any kind or form,
Supplying public services, or services whose main component is energy,
Telecommunications and information technology services, and
Internet-based intermediation business.
NOTE 2. Basis of presentation of the consolidated financial
statements
2.1. Accounting principles
The consolidated financial statements of Enel Américas as of December 31, 2021, approved by its Board of Directors at its
meeting held on February 25, 2022, have been prepared in accordance with International Financial Reporting Standards (IFRS),
as issued by the International Accounting Standards Board (IASB).
These consolidated financial statements present fairly the financial position of Enel Américas and its subsidiaries as of December
31, 2021 and 2020, and the results of operations, changes in equity and cash flows for the years ended December 31, 2021,
2020 and 2019, and the related notes.
These consolidated financial statements voluntarily present the figures corresponding to the year 2019 of the consolidated comprehensive
income statement, consolidated cash flow statement, consolidated statement of changes in equity, and their corresponding notes.
These consolidated financial statements have been prepared under going concern assumptions on a historical cost basis
except when, in accordance with IFRS, those assets and liabilities are measured at fair value.
372
Integrated Annual Report Enel Américas 2021
2.2. New accounting pronouncements
a) The following accounting pronouncements have been adopted by the Group effective as
of January 1, 2021:
Amendments and Improvements
Amendments to IFRS 16: COVID-19-Related Rent Concessions
Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16: Interest Rate Benchmark
Reform – Phase 2
Amendments to IFRS 16: COVID-19-Related Rent Concessions
Mandatory application for annual periods
beginning on or after:
June 1, 2020
January 1, 2021
As a result of the COVID-19 pandemic, lessees in many countries have been granted rent payment concessions, such as grace
periods and delaying of lease payments for a period of time, sometimes followed by an increase in the payment in future
periods. Within this context, on May 28, 2020, the IASB issued amendments to IFRS 16: Leases, in order to provide a practical
expedient for lessees, through which they can opt for not evaluating whether the rent concessions are a modification of the
lease. Lessees that elect this option, will account for such rent concessions as a variable payment.
The practical expedient is only applicable to rent concessions that occur as a direct consequence of the COVID-19 pandemic
and only if they comply with all the following conditions:
i) the change in lease payments is the product of a revised lease payment that is substantially the same, or less than the lease
payment immediately before the change;
ii) any reduction in lease payments affects only the payments originally due up to June 30, 2021; and
iii) there is no substantial change in the other terms and conditions of the lease.
The amendments are applicable to annual periods beginning on or after June 1, 2020. These amendments must be applied
retroactively, recognizing the accumulated effect from initial application as an adjustment in the beginning balance of retained
earnings (or other equity component, as applicable) at the beginning of the annual period in which the amendment is applied
for the first time.
The application of these improvements did not generate an impact on the Group’s consolidated financial statements.
Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16: Interest Rate Benchmark Reform (Phase 2)
On August 27, 2020, the IASB finalized a reform that phased out benchmark interest rates, such as Interbank Offering Interest
Rates (IBORs), by issuing a package of amendments to the following IFRS:
− IFRS 9 Financial Instruments
− IAS 39 Financial Instruments: Recognition and Measurement
− IFRS 7 Financial Instruments: Disclosures
− IFRS 4 Insurance Contracts
− IFRS 16 Leases
These amendments are intended to help companies provide investors with useful information about the effects of the reform
on their financial statements.
Background information
IBORs are interest rates published on a daily basis, compared with the average interest rates that a specific number of financial
institutions grant unsecured interbank financing, according to different terms and currencies.
Because of concerns regarding attempts to manipulate benchmark interest rates in recent years, regulators around the world
started a radical reform on these rates to increase the reliability of benchmark interest rates within the international financial
system. The aim of the reform is to replace interbank offering interest rates with alternative risk-free reference rates (RFR),
which are based on liquid transactions in underlying markets and do not depend on expert judgments, such as the Secured
Overnight Funding Rate (SOFR).
Phase 1 Amendments
Consolidated Financial Statements 373
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Phase 1 of the IASB’s work was focused on providing temporary exceptions that allow entities to continue to apply hedge
accounting during the uncertain period prior to IBOR replacement. This phase culminated in 2019 with the issuance of
amendments to IFRS 9, IAS 39 and IFRS 7, which became effective on January 1, 2020.
Phase 2 Amendments
Phase 2 complements the previous amendments and addresses the effects on financial statements when a company replaces a
previous benchmark interest rate with an alternative benchmark interest rate. These amendments mainly relate to the following:
− Changes in contractual cash flows: a company will not have to derecognize accounts or adjust the carrying amounts of
financial instruments due to changes required by the reform, but rather will update the effective interest rate to reflect
the change in the alternative interest rate benchmark;
− Hedge accounting: a company will not have to discontinue its hedge accounting solely because it makes the changes
required by the reform, if the hedge complies with other hedge accounting criteria; and
− Disclosures: a company will be required to disclose information about new risks that arise from the reform and how it
manages the transition to alternative interest rate benchmarks.
Phase 2 amendments issued became effective beginning on January 1, 2021, with retrospective application, subject to certain
exceptions. It is not necessary to restate previous periods.
Hedging relationships
The Group has assessed the impact of the uncertainty generated by the reform in the current hedging relationships, with
reference to both the hedging instruments and hedged items. The Group’s most relevant exposure is to the USD LIBOR rate.
The hedging relationships affected by the IBOR reform could be rendered ineffective due to the expectations of market participants
regarding the time when interbank market-based benchmark rates will transition to risk-free alternative rates. This transition could occur
at different times for hedged items and hedging instruments and could lead to ineffectiveness. Therefore, the Group is applying the
amendments to IFRS 9 issued in September 2019 (Phase 1 amendments) to the hedging relationships directly affected by the reform.
Group Exposure
In March 2021, the succession dates of LIBOR were announced: December 31, 2021, for LIBOR in euros, Swiss francs, yen
and British pounds regardless of terms, and LIBOR in USD at one week and two months, and June 30, 2023, for all other USD
LIBOR terms. Accordingly, the Group has completed an evaluation of the impact of the LIBOR reform on loan agreements
and derivative instrument contracts after having defined the scope regarding number and nominal value, including the
determination of fallback rates for new transactions. The alternative benchmark rates will begin to be applied as of July 1,
2023, with the elimination of the remaining USD LIBOR rates.
As of December 31, 2021, the Group’s exposure in terms of the notional amounts of the contracts that must transition to an
alternative reference rate, by type of instrument and interest rate, is detailed as follows:
In millions of U.S. Dollars
Type of interest rate
USD LIBOR
Notional as of 12-31-2021
Non-derivative
financial liabilities
Derivative
instruments
Total
1,620
390
2,010
b) Accounting pronouncements applicable beginning on January 1, 2021 and thereafter:
As of the date of issuance of these consolidated financial statements, the following accounting pronouncements had been
issued by the IASB, but their application was not mandatory:
Amendments and Improvements
Amendments to IFRS 16: COVID-19-Related Rent Concessions beyond June 30, 2021
Amendments to IFRS 3: References to the Conceptual Framework
Amendments to IAS 16: Proceeds before Intended Use
Amendments to IAS 37: Onerous Contracts – Cost of Fulfilling a Contract
Mandatory application for annual periods
beginning on or after:
April 1, 2021
January 1, 2022
January 1, 2022
January 1, 2022
374
Integrated Annual Report Enel Américas 2021
Annual Improvements to IFRS: 2018-2020 Cycle
IFRS 1: First-time Adoption of International Financial Reporting Standards
IFRS 9: Financial Instruments
Amendment to Illustrative Examples accompanying IFRS 16
IAS 41: Agriculture
Amendments to IAS 1: Classification of Liabilities as Current or Non-current
Amendments to IAS 1 and IFRS Practice Statement 2: Disclosure of Accounting Policies
Amendments to IAS 8: Definition of Accounting Estimates
Amendments to IAS 12: Deferred Tax related to Assets and Liabilities arising from a Single Transaction
January 1, 2022
January 1, 2023
January 1,2023
January 1, 2023
January 1, 2023
• Amendments to IFRS 16: COVID-19-Related Rent Concessions after June 30, 2021
Because of the continued impact of the COVID-19 pandemic, the IASB issued an amendment to IFRS 16 Leases on March 31,
2021, that extended by one year the period of application of the practical expedient that helps lessees to account for rental
concessions linked to COVID-19. With these amendments, the IASB extended the practical expedient to rent concessions
that reduce lease payments originally due on or before June 30, 2022.
The amendment is effective for annual periods beginning on or after April 1, 2021, retrospectively, recognizing the cumulative
effect of initially applying the amendment as an adjustment to the opening balance of retained earnings (or other component
of equity, as appropriate) at the beginning of the annual reporting period in which the lessee first applies the amendment.
Earlier application is permitted, even for Financial Statements that have not been authorized for publication as of March 31,
2021. Enel Américas has decided not to early apply these amendments.
Management has assessed the impacts of this amendment and has concluded that its implementation does not have a
significant impact on the Group’s consolidated financial statements.
• Amendments to IFRS 3: “References to the Conceptual Framework”.
On May 14, 2020, the IASB issued a package of limited-scope amendments, including amendments to IFRS 3: Business Combinations.
The amendments update references to the Conceptual Framework issued in 2018, in order to determine an asset or a liability in a
business combination. In addition, the IASB added a new exception to IFRS 3 for liabilities and contingent liabilities, which specifies
that, for certain types of liabilities and contingent liabilities, an entity that applies IFRS 3 must refer to IAS 37 “Provisions, Contingent
Liabilities and Contingent Assets”, or IFRIC 21: “Levies”, instead of the 2018 Conceptual Framework. Without this exception, an
entity would have recognized certain liabilities in a business combination that would not be recognized in accordance with IAS 37.
The amendments are applicable prospectively to business combinations with acquisition dates beginning on the first annual
period beginning on or after January 1, 2022. Early application is permitted.
Management has assessed the impacts of this amendment and has concluded that its implementation does not have a
significant impact on the Group’s consolidated financial statements.
• Amendments to IAS 16: “Proceeds before Intended Use”
As part of the package of limited-scope amendments issued in May 2020, the IASB issued amendments to IAS 16 Property,
Plant and Equipment, which prohibit a company from deducting from the cost of property, plant and equipment amounts
received from selling items produced while the company is preparing the asset for its intended use. Instead, the company will
recognize such sales proceeds and related costs in profit or loss for the period. The amendments also clarify that an entity is
“testing whether an asset operates correctly” when it evaluates the technical and physical performance of the asset.
These amendments are applicable to annual reporting periods beginning on or after January 1, 2022. Early application is
permitted. The amendments will be applied retroactively, but only from the beginning of the first period presented in the financial
statements in which the entity applies the amendments for the first time. The accumulated effect of initial application of the
amendments will be recognized as an adjustment to the opening balance of retained earnings (or other equity components
as applicable) at the beginning of the first reported period.
Management has assessed the impacts of this amendment and has concluded that its implementation does not have a
significant impact on the Group’s consolidated financial statements.
• Amendments to IAS 37: “Onerous Contracts: Cost of Fulfilling a Contract”
The third standard amended by the IASB in the package of limited-scope amendments issued in May 2020 was IAS 37 Provisions,
Contingent Liabilities and Contingent Assets. The amendments specify which costs a company should include when evaluating
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whether a contract is onerous. In this sense, the amendments clarify that the direct cost of fulfilling a contract comprises
both the incremental costs of fulfilling this contract (for example, direct labor and materials), as well as the allocation of other
costs that are directly related to compliance with the contracts (for example, an allocation of the depreciation charge for an
item of property, plant and equipment used to fulfill the contract).
These amendments are applicable for reported annual periods beginning on or after January 1, 2022. Early application is
permitted. Companies must apply these amendments to contracts for which all obligations have still not been fulfilled at the
beginning of the reported annual period in which the amendments are applied for the first time. They do not require restatement
of comparative information. The accumulated effect of initially applying the amendments will be recognized as an adjustment
to the opening balance of retained earnings (or another equity component as applicable) on the date of initial application.
Management has assessed the impacts of this amendment and has concluded that its implementation does not have a
significant impact on the Group’s consolidated financial statements.
• Annual Improvements to IFRS: 2018-2020 Cycle
On May 14, 2020, the IASB issued a number of minor amendments to IFRSs, in order to clarify or correct minor issues or overcome
possible inconsistencies in the requirements of certain standards. The amendments with potential impact on the Group are the following:
− IFRS 9 “Financial Instruments”: clarifies that for the purpose of the 10% test for derecognition of financial liabilities, when
determining commissions paid net of commissions received, the borrower must only consider the commissions paid or
received between the borrower and the lender.
These improvements are applicable to reported annual periods beginning on January 1, 2022. Early application is allowed.
Entities must apply these amendments to financial liabilities that are modified or exchanged at the beginning of the reported
annual period, in which the amendments are applied for the first time.
− Examples accompanying “IFRS 16 Leases”: amendment of illustrative example 13, in order to eliminate a possible confusion
regarding the treatment of lease incentives. The example included as part of its background information, a reimbursement
from the lessor to the lessee, related to leasehold improvements. Since the example was not sufficiently clear as to whether
the reimbursement complied with the definition of a lease incentive, the IASB decided to eliminate from the illustrative
example any reference to this reimbursement, thus avoiding any possibility of confusion.
Management has assessed the impacts of this amendment and has concluded that its implementation does not have a
significant impact on the Group’s consolidated financial statements.
• Amendments to IAS 1: “Classification of Liabilities as Current and Non-Current”
On January 23, 2020, the IASB issued limited-scope amendments to IAS 1 “Presentation of Financial Statements”, in order to
clarify how to classify debt and other liabilities as current or non-current. The amendments clarify that a liability is classified as
non-current if the entity has, at the end of the reporting period, the substantial right to defer settlement of the liability during
at least 12 months. The classification is not affected by the expectations of the entity or by events after the reporting date. The
amendments include clarification of the classification requirements for debt that a company could settle converting it to equity.
The amendments only affect the presentation of liabilities as current and non-current in the statement of financial position, not
the amount and timing of their recognition, or the related disclosures. However, they could lead to companies reclassifying certain
current liabilities to non-current and vice versa. This could affect compliance with covenants in the debt agreements of companies.
These amendments are applicable retroactively beginning on January 1, 2023. In response to the COVID-19 pandemic, in July
2020 the IASB extended its mandatory effective date established initially for January 1, 2022 by a year in order to provide
companies more time to implement any change in classification resulting from these amendments. Early application is permitted.
Management is evaluating the potential impact of the application of these amendments on the Group’s consolidated financial statements.
• Amendments to IAS 1 and IFRS Practice Statement 2: “Disclosure of Accounting Policies”
On February 12, 2021, the IASB issued limited-scope amendments to IAS 1 “Presentation of Financial Statements” and IFRS
Practice Statement No. 2 “Making Materiality Judgements”. This related to the final stage of its materiality improvement work,
in order to help entities with their accounting policy disclosures. The aim was to provide more useful information to investors
and other primary users of the financial statements.
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Amendments to IAS 1 require entities to disclose their material accounting policies rather than their significant accounting
policies. The amendments to IFRS Statement of Practice No. 2 provide guidance on how to apply the concept of materiality
to accounting policy disclosures.
The amendments are effective for annual periods beginning on or after January 1, 2023. Early application is permitted.
Management is assessing the potential impact of the application of these amendments on the Group’s consolidated financial statements.
• Amendments to IAS 8: Definition of Accounting Estimates
On February 12, 2021, the IASB issued limited-scope amendments to IAS 8 “Accounting Policies, Changes to Accounting
Estimates and Errors”. The aim was to clarify how companies should distinguish between changes to accounting policies and
accounting estimates, in order to reduce diversity in practice.
This distinction is important because accounting estimate changes only apply prospectively to future transactions and other
future events. In addition, accounting policy changes generally apply retrospectively to past transactions and other past events.
The amendments are effective for annual periods beginning on or after January 1, 2023, and will be applied prospectively to
changes to estimates and accounting policies that occur from the beginning of the first year in which the entity applies the
amendments. Early application is permitted.
Management is assessing the potential impact of the application of these amendments on the Group’s consolidated financial statements.
• Amendments to IAS 12: Deferred Tax related to Assets and Liabilities arising from a Single Transaction
On May 7, 2021, the IASB issued specific amendments to IAS 12 “Income Taxes”, with the aim of clarifying how companies
should account for deferred taxes on transactions, such as leases and decommissioning obligations.
In certain circumstances, companies are exempt from recognizing deferred taxes when they recognize assets or liabilities
for the first time. Previously, there was some uncertainty about whether the exemption applied to transactions such as leases
and decommissioning obligations, transactions for which companies recognize both an asset and a liability. The amendments
clarify that the exemption is not applicable to these transactions and companies are required to recognize deferred taxes
on such transactions.
The amendments are effective for annual periods beginning on or after January 1, 2023. Early application is permitted.
Management is assessing the potential impact of the application of these amendments on the Group’s Consolidated Financial Statements.
c) Reclassification to consolidated statements of comprehensive income
The Group decided to reclassify from finance income to operating income the restatement of certain financial assets related
to the concession contracts of the electricity distribution subsidiaries in Brazil. These financial assets represent the value to
be recovered at the end of the related concessions (indemnification amount).
As a result of such reclassification, the Group retrospectively reclassified in the consolidated statements of comprehensive
income the amounts of ThUS$ 99,071 and ThUS$ 73,345 from finance income to operating income for the years ended
December 31, 2020 and 2019, respectively. These reclassifications, the amount of which is not significant, did not modify total
assets, equity, profit for the year and cash flows previously reported by the Group.
For more information regarding the recognition policies of this kind of financial assets, as well as their associated values, see
Note 3.d.1, Note 7(2) and Note 27.
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2.3. Responsibility for the information, judgments and estimates provided
The Company’s Board of Directors is responsible for the information contained in these consolidated financial statements and
expressly states that all IFRS principles and standards have been fully implemented.
In preparing the consolidated financial statements, certain judgments and estimates made by the Group’s management have
been used to quantify some of the assets, liabilities, revenue, expenses and commitments recognized.
The most significant areas where critical judgment was required are:
− In a service concession agreement, determination of whether a grantor controls or regulates what services the
operator must provide, to whom and at what price, are critical factors for the application of IFRIC 12 “Service Concession
Arrangements” (see Note 3.d.1).
− The identification of Cash Generating Units (CGU) for impairment testing (see Note 3.e).
− The hierarchy of information used to measure assets and liabilities at fair value (see Note 3.h).
− The determination of the Group’s functional currency (see Note 2.8).
− Application of the revenue recognition model in accordance with IFRS 15 (see Note 3.q).
The estimates refer basically to:
− The valuations performed to determine the existence of impairment losses in non-financial assets and goodwill (see
Note 3.e).
− The assumptions used to calculate the actuarial liabilities and obligations with employees, such as discount rates, mortality
tables, salary increases, etc. (see Notes 3.m.1 and 25).
− The useful lives of property, plant and equipment and intangible assets (see Notes 3.a and 3.d).
− The assumptions used to calculate the fair value of financial instruments (see Notes 3.h and 22).
− The energy supplied to customer whose meters have not yet been read (see Note 3.q).
− Certain assumptions inherent in the electricity system affecting transactions with other companies, such as production,
customer billings, energy consumption, that allow for estimation of electricity system settlements that occur on the
corresponding final settlement dates, but that are pending as of the date of issuance of the consolidated financial
statements and could affect the balances of assets, liabilities, income and expenses recognized in the financial statements
(see Appendix 3.2).
− The probability that uncertain or contingent liabilities will be incurred and their related amounts (see Note 3.m).
− Future disbursements for closure of facilities and restoration of land, as well as associated discount rates to be used
(see Note 3.a).
− The tax results of the different Group subsidiaries that will be reported to the respective tax authorities in the future, and
other estimates have been used as a basis for recording the different income tax related balances in these consolidated
financial statements (see Note 3.p).
− The fair value of assets acquired, and liabilities assumed, and any pre-existing interest in an entity acquired in a business
combination.
− Determination of expected credit losses on financial assets (see Note 3.g.3).
− In the measurement of lease liabilities, determination of the lease term of contracts with renewal options, as well as the
rates to be used to discount lease payments (see Note 3.f).
Regarding the COVID-19 pandemic, the degree of uncertainty generated in the macroeconomic and financial environment in
which the Group operates could affect the valuations and estimates made by Management to determine the carrying amounts
of the more volatile assets and liabilities. As of December 31, 2021, according to the information available and considering a
scenario in constant evolution, the main areas that required Management to use their judgment and make estimates were the
following: i) measurement of expected credit losses on financial assets; ii) determination of impairment losses on non-financial
assets; and iii) measurement of employee benefits, including actuarial assumptions.
Although these judgments and estimates have been based on the best information available as of the date of issuance of
these consolidated financial statements, future events may occur that would require a change (increase or decrease) to these
judgments and estimates in subsequent periods. This change would be made prospectively, recognizing the effects of this
change in judgment or estimation in the related future consolidated financial statements.
2.4. Subsidiaries
Subsidiaries are defined as those entities controlled either, directly or indirectly by Enel Américas. Control is exercised if and
only if the following conditions are met: the Company has i) power over the subsidiary; ii) exposure, or rights to variable returns
from these entities; and iii) the ability to use its power to influence the amount of these returns.
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Enel Américas has power over its subsidiaries when it holds the majority of the substantive voting rights or, should that not
be the case, when it has rights granting the practical ability to direct the entities’ relevant activities, i.e., the activities that
significantly affect the returns from the subsidiary.
The Group will reassess whether or not it controls a subsidiary if facts and circumstances indicate that there are changes to
one or more of the control elements listed above.
Subsidiaries are consolidated as described in Note 2.7.
Appendix N° 1 to these Consolidated Financial Statements, entitled “Companies from the Enel Américas Group”, describes
the Company’s relationships with each of its subsidiaries.
2.4.1. Changes in the scope of consolidation
2021
− On January 20, 2021, the companies Fontibon ZE SAS and USME ZE SAS were incorporated in Colombia. These companies
are 100% owned by the Company’s subsidiary Bogotá ZE SAS. The main purpose of these companies is to perform any
activities related to electric mobility and public transport in Colombia and abroad.
− On April 1, 2021, EGP Américas SpA (hereinafter “EGP Américas”) merged with Enel Américas, which acquired all the assets
and liabilities of EGP Américas, including the non-conventional renewable energy generation business and assets that
EGP Américas owned in Central and South America (except Chile). As a consequence, all the shareholders and equity of
EGP Américas were incorporated into Enel Américas, and EGP Américas was dissolved without liquidation (see Note 5).
− On November 4, 2021, Enel Green Power Brasil Participacoes Ltda. merged with Enel Brasil S.A., with the latter becoming
the legal successor company (see Note 5).
− During the second half of 2021, the Company’s subsidiary Enel Brasil acquired 100% interests in the companies Enel Green
Power Lagoa do Sol 08 S.A., Enel Green Power Lagoa do Sol 09 S.A., Fazenda Aroeira Empreendimento de Energia Ltda.,
Enel Green Power Nova Olinda 01 S.A., Enel Green Power Nova Olinda 07 S.A., Enel Green Power Nova Olinda 05 S.A., Enel
Green Power Nova Olinda 09 S.A., Enel Green Power Nova Olinda 04 S.A., Enel Green Power Nova Olinda 02 S.A. and Enel
Green Power Nova Olinda 03 S.A., for the purpose of developing renewable energy projects.
− During the second half of 2021, the Company’s subsidiary Enel Green Power Colombia S.A.S. ESP acquired 100% interests
in the companies Guayepo Solar S.A.S., Latamsolar Fotovoltaica Fundación S.A.S, and Atlántico Photovoltaic S.A.S. ESP,
for the purpose of developing renewable energy projects.
2020
− On September 22, 2020, the Company’s subsidiary Enel X Brasil S.A. acquired 51% of the share capital of Luz de Angra
Energía S.A., whose corporate purpose is to perform works and services related to public lighting and signage in streets,
ports and airports.
− On October 22, 2020, Bogotá ZE SAS was incorporated, which is 100% owned by the Company’s subsidiary Enel X Colombia
S.A.S. The new company is engaged in performing any acts related to sustainable electromobility in Colombia and abroad.
2.4.2. Consolidated companies with an economic equity interest of less than 50%
Although the Group has an interest of less than 50% in Codensa S.A. E.S.P. and Emgesa S.A. E.S.P. in Colombia, representing
48.3% and 48.48%, respectively, these companies are considered to be “subsidiaries” since Enel Américas exercises control
over them by virtue of a shareholders’ agreement or as a result of its share structure, composition and classes. In this respect
Enel Américas has 57.15% and 56.43% of the voting shares of Codensa S.A. E.S.P., and Emgesa S.A. E.S.P., respectively.
2.5. Investments in associates
Associates are those entities over which Enel Américas, either directly or indirectly, exercises significant influence.
Significant influence is the power to participate in the decisions related to the financial and operating policy of the associate
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but without having control or joint control over those policies. In assessing significant influence, the Group takes into account
the existence and effect of currently exercisable voting rights or convertible rights at the end of each reporting period, including
currently exercisable voting rights held by the Company or other entities. In general, significant influence is presumed to be
present in those cases in which the Group has more than 20% of the voting power of the investee.
Associates are accounted for in the consolidated financial statements using the equity method of accounting as described
in Note 3.i.
The detail of the companies that qualify as associates is the following:
Taxpayer ID No. Company
Country
Functional
Currency
Foreign
Foreign
Yacylec S.A.
Argentina
Argentine peso
Central Vuelta
Obligada S.A.
Argentina
Argentine peso
-
Direct
33.33%
% Ownership as of
12-31-2021
% Ownership as of
12-31-2020
Indirect
Total
-
40.90%
33.33%
40.90%
Direct
33.33%
-
Indirect
Total
-
40.90%
33.33%
40.90%
2.6. Joint arrangements
Joint arrangements are defined as those entities in which the Group exercises control under an agreement with other shareholders and
jointly with them, i.e., when decisions on the entities’ relevant activities require the unanimous consent of the parties sharing control.
Depending on the rights and obligations of the participants, joint agreements are classified as:
− Joint venture: an agreement whereby the parties exercising joint control have rights to the entity’s net assets. Joint ventures
are included in the consolidated financial statements using the equity method of accounting, as described in Note 3.i.
− Joint operation: an agreement whereby the parties exercising joint control have rights to the assets and obligations with
respect to the liabilities relating to the arrangement. Joint operations are included in the consolidated financial statements
recognizing the proportional interest in the assets and liabilities impacted by such operation.
In determining the type of joint arrangement in which it is involved, the Group’s Management assesses its rights and obligations
arising from the arrangement by considering the structure and legal form of the arrangement, the terms agreed by the parties
in the contractual arrangement and, when relevant, other facts and circumstances. If facts and circumstances change, the
Group reassesses whether the type of joint arrangement in which it is involved has changed
The detail of companies classified as joint ventures is as follows:
Taxpayer ID No. Company
Country
Functional
Currency
% Ownership as of
12-31-2021
Foreign
Sacme S.A.
Argentina
Argentine Peso
-
Direct
Indirect
50.00%
Total
50.00%
Direct
-
% Ownership as of
12-31-2020
Indirect
50.00%
Total
50.00%
The Company does not have any joint agreements classified as joint operations.
2.7. Basis of consolidation and business combinations
The subsidiaries are consolidated and all their assets, liabilities, revenues, expenses, and cash flows are included in the
consolidated financial statements once the adjustments and eliminations of intra-group transactions have been made.
The comprehensive income from subsidiaries is included in the consolidated statement of comprehensive income from the
date when the Parent Company obtains control of the subsidiary until the date on which it loses control of the subsidiary.
The Group records its business combinations using the acquisition method when the set of activities and assets acquired
meet the definition of a business, and control is transferred to the Group. To be considered a business, a set of activities and
assets acquired must include, as a minimum, an input and a substantive process applied to it which, as a whole, significantly
contribute to the capacity to create products. IFRS 3 offers the option to apply a “concentration test” as a simplified evaluation
of whether or not an acquired set of activities and assets is a business. The concentration test is positive if substantially all of
the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets.
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The operations of the Parent Company and its subsidiaries have been consolidated under the following basic principles:
1. At the date the parent obtains control, the subsidiary’s assets acquired, and its liabilities assumed are recorded at fair value,
except for certain assets and liabilities that are recorded using valuation principles established in other IFRS standards. If the
fair value of the consideration transferred plus the fair value of any non-controlling interests exceeds the fair value of the net
assets acquired, this difference is recorded as goodwill. In the case of a bargain purchase, the resulting gain is recognized in
profit or loss after reassessing whether all of the assets acquired, and the liabilities assumed have been properly identified
and following a review of the procedures used to measure the fair value of these amounts.
For each business combination, IFRS allow valuation of the non-controlling interests in the acquiree on the date of acquisition:
i) at fair value; or ii) for the proportional ownership of the identifiable net assets of the acquiree, with the latter being the
methodology that the Group has systematically applied to its business combinations.
If the fair value of all assets acquired and liabilities assumed at the acquisition date has not been completed, the Group reports the
provisional values accounted for in the business combination. During the measurement period, which shall not exceed one year
from the acquisition date, the provisional values recognized will be adjusted retrospectively as if the accounting for the business
combination had been completed at the acquisition date, and also additional assets or liabilities will be recognized to reflect new
information obtained about events and circumstances that existed on the acquisition date, but which were unknown to Management
at that time. Comparative information for prior periods presented in the financial statements is revised as needed, including making
any change in depreciation, amortization or other income effects recognized in completing the initial accounting.
For business combinations achieved in stages, the Company measures at fair value the participation previously held in the
equity of the acquiree on the date of acquisition and the resulting gain or loss, if any, is recognized in profit or loss of the period.
2. Non-controlling interests in equity and in the comprehensive income of the consolidated subsidiaries are presented,
respectively, under the line items “Total Equity: Non-controlling interests” in the consolidated statement of financial position
and “Profit (loss) attributable to non-controlling interests” and “Comprehensive income attributable to non-controlling interests”
in the consolidated statement of comprehensive income.
3. Balances and transactions between consolidated companies have been fully eliminated on consolidation.
4. Changes in the ownership interests in subsidiaries that do not result in the Group obtaining or losing control are recognized
as equity transactions. The carrying amounts of the controlling and non-controlling interests are adjusted to reflect the changes
in their relative interests in the subsidiaries. Any difference between the amount by which the non-controlling interests are
adjusted and the fair value of the consideration paid or received is recognized directly in equity attributable to shareholders
of the Parent Company.
5. Business combinations under common control are accounted for using the “pooling of interest” method. Under this method,
the assets and liabilities involved in the transaction remain reflected at the same carrying amounts at which they were recorded
in the ultimate parent company, although subsequent accounting adjustments may be needed to align the accounting policies
of the companies involved. The Group does not apply a retrospective item of business combinations under common control.
Any difference between assets and liabilities contributed to the consolidation and the consideration paid is recorded directly
in equity, as a debit or credit to “Other reserves.”
2.8. Functional Currency
The functional currency of Enel Américas is the United States Dollar (US$), as is the presentation currency of the Group’s
consolidated financial statements.
The functional currency has been determined, considering the economic environment in which the Company operates. This
conclusion is based on the fact that the US$ is the currency that fundamentally influences its financing, capital issuance and cash
and cash equivalent activities. Accordingly, the US$ reflects the underlying transactions, events and conditions for Enel Américas.
Any information presented in US$ has been rounded to the closest thousand (ThUS$) or million (MUS$), unless indicated otherwise.
Consolidated Financial Statements 381
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2.9. Conversion of financial statements denominated in foreign currency
Conversion of the financial statements of the Group companies that have functional currencies different than US$, and do
not operate in hyperinflationary economies, is carried out as follows:
a. Assets and liabilities, using the exchange rate prevailing at the closing date of the financial statements.
b. Comprehensive income statements using the average exchange rate for the period (unless this average is not a reasonable
approximation of the cumulative effect of the exchange rate existing on the transaction dates, in which case the exchange
rate on the date of each transaction is used).
c. Equity is maintained at the historical exchange rate on the date of its acquisition or contribution, and at the average exchange
rate as of the date of generation for retained earnings.
d. Foreign currency translation differences generated in the conversion of the financial statements are recorded under “Foreign
currency translation gains (losses)” in Other comprehensive income in the consolidated statement of comprehensive income
(see Note 26.2).
The financial statements of subsidiaries whose functional currency is that of a hyperinflationary economy, are first adjusted for inflation,
recording any gain or loss in the net monetary position in profit or loss. Subsequently, all items (assets, liabilities, equity items, expenses
and revenue) are converted at the exchange rate prevailing at the closing date of the most recent statement of financial position.
Changes in the Company’s net investment in the subsidiary operating in a hyperinflationary economy, arising from the application of
the restatement / conversion method, are recorded as follows: (i) the effect of restatement due to inflation is recognized directly in
Equity, under the "Other reserves" account; and (ii) the effect of foreign currency translation is recognized in Gain (losses) from foreign
currency translation, in the consolidated statements of comprehensive income: Other comprehensive income.
Argentine Hyperinflation
Beginning on July 2018, the Argentine economy has been considered to be hyperinflationary in accordance with the criteria established
in IAS 29 “Financial Reporting in Hyperinflationary Economies”. This determination was made on the basis of a number of qualitative
and quantitative criteria, especially the presence of accumulated inflation in excess of 100% during the three previous years.
In accordance with IAS 29, the financial statements of investees in Argentina have been restated retrospectively, applying the
general price index at historical cost, in order to reflect changes in the purchasing power of the Argentine peso, as of the
closing date of these consolidated financial statements.
Non-monetary assets and liabilities were restated from February 2003, the last date on which an inflation adjustment was
applied for accounting purposes in Argentina. Within this context, note that the Group carried out its transition to IFRS on
January 1, 2004, and applied the deemed cost exception to property, plant and equipment.
For consolidation purposes in Enel Américas and as a result of the application of IAS 29, the results of our subsidiaries in
Argentina were converted at the prevailing period-closing exchange rate (ARS/US$), in accordance with IAS 21 “Effects of
Changes in Foreign Exchange Rates”, when dealing with a hyperinflationary economy. Previously, the profit or loss of Argentine
subsidiaries were converted using the average exchange rate for the period, as used for the other subsidiaries operating in
other countries whose economies are not considered to be hyperinflationary.
The general price indexes used at the end of the reporting periods are as follows:
From January to December 2019
From January to December 2020
From January to December 2021
General price index
53.64%
36.13%
50.95%
The effects of the application of this standard on these consolidated financial statements are detailed in Note 32
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Integrated Annual Report Enel Américas 2021
Exchange rates
The exchange rates used to convert the financial statements of the different foreign subsidiaries are detailed as follows (local
currency versus the US$):
Currency
12-31-2021
12.31.2020
12.31.2019
Argentine peso
Brazilian real
Peruvian sol
Colombian peso
Closing Date
102.72
5.58
4.00
3,981.16
Average
102.69
5.39
3.88
3,743.86
Closing Date
Average
Average
84.15
5.20
3.62
84.07
5.16
3.50
59.88
3.94
3.34
3,432.50
3,693.52
3,281.39
Note: The functional currency of the Group’s subsidiaries in Central America is the United States Dollar (US $).
NOTE 3. Accounting policies
The main accounting policies used in preparing the accompanying consolidated financial statements are the following:
a) Property, plant and equipment
Property, plant and equipment are generally measured at acquisition cost, net of accumulated depreciation and any impairment
losses experienced. In addition to the price paid to acquire each item, the cost also includes, the following concepts, where
applicable:
• Finance costs accrued during the construction period that are directly attributable to the acquisition, construction, or
production of qualifying assets, which require a substantial period of time before being ready for use (e.g., electricity
generation or distribution facilities). The Group defines “substantial period” as a period exceeding twelve months. The
interest rate used is that of the specific financing or, if none exists, the weighted average financing rate of the company
making the investment (see Note 16.b.1).
• Employee expenses directly related to construction in progress (see Note 16.b.2).
• Future disbursements that the Group will have to make to close its facilities are added to the value of the asset at fair value,
recognizing the related provision for dismantling or restoration. The Group reviews its estimate of these future disbursements
on an annual basis, increasing or decreasing the value of the asset based on the results of this estimate (see Note 24).
Assets under construction are transferred to operating assets once the testing period has been completed and they are
available for use, at which time depreciation begins.
Expansion, modernization or improvement costs that represent an increase in productivity, capacity or efficiency, or a longer
useful life are capitalized as an increase in the cost of the related assets.
The replacement or overhaul of entire components that increase the asset’s useful life or economic capacity are recorded as
an increase in cost of the related assets, derecognizing the replaced or overhauled components.
Expenditures for periodic maintenance and repair are recognized directly as an expense for the year in which they are incurred.
Property, plant and equipment, net of its residual value, is depreciated by distributing the cost of the different items that
comprise it on a straight-line basis over its estimated useful life, which is the period during which the Group expects to use
the assets. Useful life estimates and residual values are reviewed on an annual basis and if appropriate adjusted prospectively.
In addition, the Group recognizes right-of-use assets for leases relating to property, plant and equipment in accordance with
the criterion established in Note 3.f.
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The following are the main categories of property, plant and equipment with their related estimated useful lives:
Classes of property, plant and equipment
Years of estimated useful life
Buildings
Plant and equipment
IT equipment
Fixtures and fittings
Motor vehicles
10 – 85
10 – 85
3 – 15
3 – 75
5 – 20
In addition, for further information, the following is a more detailed breakdown of the plant and equipment classes:
Classes of property, plant and equipment
Generating plant and equipment:
Hydroelectric plants
Civil engineering works
Electromechanical equipment
Coal/Fuel power plants
Combined cycle power plants
Distribution plant and equipment:
High-voltage network
Low- and medium-voltage network
Measuring and remote control equipment
Primary substations
Years of estimated useful life
10 – 85
10 – 60
10 – 40
10 – 50
15 – 50
30 – 50
10 – 30
20 – 40
Land is not depreciated since it has an indefinite useful life, unless it relates to a right-of-use asset in which case it is depreciated
over the term of the lease.
Regarding the administrative concessions held by the Group’s electric companies, the following table lists the remaining
periods until expiration of the concessions that do not have an indefinite term:
Concession holder and operator
Empresa Distribuidora Sur S.A. - Edesur (Distribution)
Enel Generación El Chocón S.A. (Generation) (*)
Transportadora de Energía S.A. (Transmission)
Country
Argentina
Argentina
Argentina
Compañía de Transmisión del Mercosur S.A. (Transmission)
Argentina
EGP Cachoeira Dourada S.A. (Generation)
Enel Generación Fortaleza S.A (Generation)
Enel CIEN S.A. (Garabi I) (Transmission) (**)
Enel CIEN S.A. (Garabi II) (Transmission) (**)
Brazil
Brazil
Brazil
Brazil
Year concession
started
Concession
term
1992
1993
2002
2000
1997
2001
2000
2002
95 years
30 years
85 years
87 years
30 years
30 years
22 years
20 years
Remaining
period
to expiration
66 years
2 years
66 years
66 years
6 years
10 years
0,6 years
0,6 years
(*) The Chocón Complex Concession Contract (Chocón and Arroyito plants) expires on August 11, 2023. This contract does not foresee any
extension or new call for proposals, but rather the restitution to the licensor (Argentine State). However, some proceedings are being carried out to
achieve a temporary extension.
(**) The main assets of our subsidiary Enel CIEN are the Garabi I and Garabi II energy interconnection systems, which through two frequency
conversion stations and 2,200 MW transmission lines, transport energy between Brazil and Argentina. In June 2020, the Ministry of Mines and
Energy of Brazil enacted an ordinance that allows Enel CIEN to continue operating the Garabi I line after the end of the concession on June 20,
2020, approving its term to correspond with the concession of the Garabi II line, up to July 31, 2022. During 2022, there will be a new tender for the
operation of both lines, and Enel CIEN has the possibility of participating in such process. If the concession is not renewed, Enel CIEN will recover the
carrying amount of the underlying assets.
To the extent that the Group recognizes the assets as Property, plant and equipment, these are amortized over their economic life or
the concession term, whichever is shorter, when the economic benefit from the asset is limited to its use during the concession term.
Any required investment, improvement or replacement made by the Group is considered in the impairment test to Property,
plant, and equipment as a future contractual cash outflow that is necessary to obtain future cash inflows.
The Group’s Management analyzed the specific contract terms of each of the aforementioned concessions, which vary
depending on the by country, business activity and jurisdiction, and concluded that, with the exception of Enel CIEN, there
are no determining factors indicating that the grantor, which in every case is a government entity, controls the infrastructure
and, at the same time, can continuously set the price to be charged for the services. These requirements are essential for
applying IFRIC 12, Service Concession Arrangements, an interpretation that establishes how to recognize and measure certain
types of concessions (see Note 3.d.1).
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On April 19, 2011, the Company’s subsidiary Enel CIEN successfully completed its change in business model. Under the new
agreement, the Brazilian government continues to control the infrastructure, but Enel CIEN receives fixed payments, which places
it at an equal level with a public transmission concession (with regulated prices). Under this business model, its concessions
fall within the scope of IFRIC 12; however, the infrastructure has not been derecognized due to the fact that Enel CIEN has
not substantially transferred the significant risks and benefits to the Brazilian government.
An item of property, plant and equipment is derecognized when it is sold or otherwise disposed of, or when no future economic
benefits are expected from its use, sale or other disposal.
Gains or losses arising from the sale or disposal of items of property, plant and equipment are recognized as “Other gains
(losses)” in the statement of comprehensive income and calculated by deducting the amount received for the sale from the
net carrying amount of the asset and the selling value.
b) Investment property
“Investment property” basically includes land and buildings that are kept for the purpose of obtaining gains from future sales
or lease arrangements.
Investment property is measured at acquisition cost, net of accumulated depreciation and any impairment losses experienced.
Investment property, excluding land, is depreciated by distributing the cost of the several elements that comprise it on a
straight-line basis over the years of useful life.
An investment property is derecognized on disposal, or when no future economic benefits are expected from use or disposal.
Gains or losses arising from the sale or disposal of items of investment property are recognized as “Other gains (losses)” in
the statement of comprehensive income and determined as the difference between the sales amount and the net carrying
amount of the asset.
c) Goodwill
Goodwill arising from business combinations, and reflected upon consolidation, represents the excess value of the consideration
paid plus the amount of any non-controlling interests over the Group’s share of the net value of the assets acquired and
liabilities assumed, measured at fair value at the acquisition date. If the accounting for a business combination is completed
within the following year after the acquisition date, and thus the goodwill determination as well, the entity recognizes the
related adjustments to the provisional amounts as if the accounting for the business combination had been completed at
the acquisition date. If the accounting for a business combination is completed within the following year after the acquisition
date, and thus the goodwill determination as well, the entity recognizes the related adjustments to the provisional amounts
as if the accounting for the business combination had been completed at the acquisition date (see Note 2.7.1).
Goodwill arising from acquisition of companies with functional currencies other than the functional currency of the Parent is
measured in the functional currency of the acquiree and translated to U.S. dollar using the exchange rate effective as of the
date of the statement of financial position.
Goodwill is not amortized; instead, at the end of each reporting period or when there are indicators that an impairment might
have occurred, the Group estimates whether any impairment loss has reduced its recoverable amount to an amount less than
the carrying amount and, if so, an impairment loss is immediately recognized in profit or loss (see Note 3.e).
d) Intangible assets other than goodwill
Intangible assets are initially recognized at their acquisition cost or production cost, and are subsequently measured at their
cost, net of their accumulated amortization and impairment losses experienced.
Intangible assets are amortized on a straight line basis during their useful lives, starting from the date when they are ready for
use, except for those with an indefinite useful life, which are not amortized. As of December 31, 2021 and 2020, there are no
significant amounts in intangible assets with an indefinite useful life.
The criteria for recognizing these assets’ impairment losses and, if applicable, recovery of impairment losses recorded in
previous periods are explained in Note e) below.
Consolidated Financial Statements 385
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An intangible asset is derecognized when it is sold or otherwise disposed of, or when no future economic benefits are expected
from its use, sale or other disposal.
Gains or losses arising from sales of intangible assets are recognized in profit or loss for the period and determined as the
difference between the amount of the sale and the carrying amount of the asset.
d.1) Concessions
Public-to-private service concession agreements are recognized according to IFRIC 12: Service Concession Arrangements.
This accounting interpretation applies if:
a) The grantor controls or regulates what services the operator should provide with the infrastructure, to whom it must provide
them, and at what price; and,
b) The grantor controls – through ownership, beneficial entitlement, or otherwise – any significant residual interest in the
infrastructure at the end of the term of the arrangement.
If both of the above conditions are met simultaneously, the consideration received by the Group for the constructed
infrastructure is initially recognized at its fair value, as either:
− An intangible asset when the Group receives the right to charge users of the public service, as long as these charges are
conditional on the degree to which the service is used;
− A financial asset when the Group has an unconditional contractual right to receive cash or another financial asset directly
from the grantor or from a third party.
However, both types of considerations are classified as a contract asset during the construction or improvement period, in
accordance with IFRS 15 (see Note 8).
The Group recognizes the contractual obligations assumed for maintenance of the infrastructure during its use, or for its return
to the grantor at the end of the concession agreement within the conditions specified in the agreement, as long as it does not
involve an activity that generates income, in accordance with the Group’s accounting policy to recognize provisions (see Note 3.m).).
Finance costs attributable to the concession arrangements are capitalized based on the criteria established in a) above,
provided that the operator has a contractual right to receive an intangible asset.
The Company’s subsidiaries that have recognized an intangible asset and/or a financial asset from their service concession
arrangements are the following:
Concession holder and
operator
Enel Distribución Río S.A.
(Distribution) (*)
Enel Distribución Ceará S.A.
(Distribution) (*)
Enel Distribución Goiás S.A.
(Distribution) (*)
Enel Green Power
Proyectos I (Volta Grande)
(Generation) (**)
Enel Distribución Sao Paulo
S.A. (Distribution) (*)
P.H. Chucas S.A.
(Generation) (*)
Country
Brazil
Brazil
Brazil
Brazil
Brazil
Costa Rica
Year
concession
started
1996
1997
2015
2017
1998
2011
Concession
term
30 years
30 years
30 years
30 years
30 years
20 years
Remaining
period
to expiration
5 years
6 years
23 years
26 years
7 years
10 years
(*) Because part of the rights acquired by these subsidiaries are unconditional an intangible asset and financial asset at fair value through profit and
loss have been recognized for the concession (See Notes 3.g.1 and Note 7).
(**) Because all of the rights acquired by this subsidiary are unconditional, only a financial asset measured at amortized cost has been recognized
for this concession (see Note 3.g.1 and Note 7).
At the end of each concession period, this can be renewed at the discretion of the granting authority, otherwise all assets and
facilities will be returned to the government or its assignee, upon reimbursement for investments made and not yet amortized.
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d.2) Research and development expenses
The Group recognizes the costs incurred in a project’s development phase as intangible assets in the statement of
financial position as long as the project’s technical feasibility and future economic benefits have been demonstrated.
Research costs are recorded as an expense in the consolidated statement of comprehensive income in the period in
which they are incurred.
d.3) Other intangible assets
Other intangible assets correspond to computer software, water rights, and easements. They are initially recognized at acquisition
or production cost and are subsequently measured at cost less accumulated amortization and impairment losses, if any.
Computer software is amortized (on average) over five years. Certain easements and water rights have indefinite useful lives and
are therefore not amortized, while others have useful lives ranging from 40 to 60 years, depending on their characteristics, and
they are amortized over that term.
e) Impairment of non-financial assets
During the period, and mainly at the end of each reporting period, the Group evaluates whether there is any indication that
an asset has been impaired (or reversed of impairment). If any such indication exists, the Group estimates the recoverable
amount of that asset to determine the amount of the impairment loss. For identifiable assets that do not generate cash flows
independently, the Group estimates the recoverable amount of the Cash Generating Unit (CGU) to which the asset belongs,
which is understood to be the smallest identifiable group of assets that generates independent cash inflows.
Notwithstanding the preceding paragraph, for CGUs to which goodwill or intangible assets with indefinite useful life have been
allocated, a recoverability analysis is performed routinely at each year-end.
The criteria used to identify the CGUs are based, in line with Management’s strategic and operating vision, within the specific
characteristics of the business, the operating rules and regulations of the market in which the Group operates and corporate
organization.
Recoverable amount is the higher of fair value less costs of disposal and value in use, which is defined as the present value of
the estimated future cash flows. In order to calculate the recoverable amount of Property, plant, and equipment, as well as of
goodwill and intangible assets, the Group uses value in use criteria in practically all cases.
To estimate value in use, the Group prepares future pre-tax cash flow forecasts based on the most recent budgets available.
These budgets include Management’s best estimates of a CGU’s revenue and costs using sector forecasts, past experience and
future expectations.
In general, these projections cover the next three years, estimating cash flows for subsequent years by applying reasonable
growth rates which, in no case, are increasing rates nor exceed the average long-term growth rates for the particular sector
and country in which the Group operates. The growth rates used to extrapolate the projections as of December 31, 2021 and
2020 were the following:
Country
Argentina
Brazil
Peru
Colombia
Costa Rica
Guatemala
Panamá
Currency
Argentine peso
Brazilian real
Peruvian sol
Colombian peso
U.S. Dollar
U.S. Dollar
U.S. Dollar
12-31-2021
12-31-2020
Minimum
Maximum
10.0%
3.0%
2.5%
3.0%
2.0%
2.0%
2.0%
Minimum
10.1%
Maximum
12.8%
3.5%
2.5%
3.0%
-
-
-
Future cash flows are discounted to calculate their present value at a pre-tax rate that covers the cost of capital for the
business activity and the geographic area in which it is being carried out. The time value of money and risk premiums generally
used among analysts for the business activity and the geographic zone are taken into account to calculate the pre-tax rate.
The following are the pre-tax discount rates applied as of December 31, 2021 and 2020 expressed in nominal terms:
Consolidated Financial Statements 387
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Country
Argentina
Brazil
Peru
Colombia
Costa Rica
Guatemala
Panamá
Currency
Argentine peso
Brazilian real
Peruvian sol
Colombian peso
U.S. Dollar
U.S. Dollar
U.S. Dollar
December 31, 2021
December 31, 2020
Minimum
36.6%
9.3%
6.7%
8.5%
9.0%
7.8%
7.3%
Maximum
Minimum
Maximum
66.1%
60.5%
11.9%
11.3%
11.7%
8.6%
11.1%
35.8%
9.6%
7.4%
8.7%
-
-
-
63.4%
40.2%
11.1%
10.5%
-
-
-
The pre-tax discount rates are calculated using the iterative method, by which a discount rate is determined, thereby ensuring
that the value in use calculated with the pre-tax cash flows is equal to that which was calculated with the after-tax cash flows,
discounted at the after-tax discount rate.
The Company’s approach to allocate value to each key assumption used to project cash flows, considers:
• Evolution of demand: the growth estimate has been calculated based on the projected increase in the Gross Domestic
Product (GDP), in addition to other assumptions used by the Company regarding the evolution of consumption. For instance,
the number of clients.
• Energy purchase and sale prices: based on specifically developed internal projection models. The price of the planned “pool”
is estimated by considering a number of determining factors, such as the different technologies costs and productions and
energy demand, among other items.
• Regulatory measures: an important part of the Company’s business is regulated and subject to extensive standards, which
could undergo revisions, either as a result of new laws or the amendment of existing laws, and therefore the projections
include adequate application of the current standards and those that are currently being developed, and those expected
to be effective during the projected period.
• Installed capacity: in the estimating of the Group’s installed capacity, the existing facilities are taken into account, as well as
the plans for both increasing capacity and capacity closure. The investment plan is constantly updated based on the evolution
of the business, quality of service regulations determined by the regulator and changes in the business development strategy
adopted by management. In the field of generation, the investments necessary to maintain the installed capacity in adequate
operating conditions are taken into account, in the distribution activity the investments for maintenance, improvement and
strengthening of the network are considered.
• Hydrology and NCRE: the projections are made from historical series of meteorological conditions and projecting an average
year, based on these.
• Fuel costs: to estimate fuel costs, existing supply contracts are taken into account and long-term projections of oil, gas or
coal prices are made, based on forward markets and available analyst estimates.
• Fixed costs: these are projected considering the foreseen level of business activities, both in terms of the evolution of the
workforce (considering salary raises in line with the CPI), and in term of other operating and maintenance costs, the level
of projected inflation and long-term existing maintenance or other contracts. The efficiencies that the Group is adopting
over time are also considered, such as those that arise from the initiatives for the digitalization for the internal processes.
• External sources: these are always considered to verify the assumptions related to the macroeconomic environment such
as price evolution, GDP growth, demand, inflation, interest rates and exchange rates, among others.
Past experience has demonstrated the reliability of the Company’s forecasts, which allows it to base key assumptions on
historical information. During 2021, the deviations observed with respect to the projections used to perform impairment
testing as of December 31, 2020, were not significant and cash flows generated in 2021 remained in a reasonable variance
range compared to those expected for that period.
Regarding the non-conventional renewable energy generation assets that the Group owns in Central and South America
included in the consolidation scope as of April 1, 2021 (see Note 5), Management concluded after a recoverability analysis
that there are no indications of any impairment losses that could affect the Company’s profit or loss.
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Integrated Annual Report Enel Américas 2021
If the recoverable amount of the CGU is less than the net carrying amount of the asset, the related impairment loss is recognized
for the difference, and charged to “Impairment loss (impairment reversals) recognized in profit or loss” in the consolidated
statement of comprehensive income. The impairment is first allocated to the CGU’s goodwill carrying amount, if any, and then
to the other assets comprising it, prorated on the basis of the carrying amount of each one, limited to the fair value less costs
of disposal, or value in use, where no negative amount could be obtained.
Impairment losses recognized in prior periods for an asset other than goodwill are reversed, if and only if, there has been a
change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. If
this is the case, the carrying amount of the asset is increased to its recoverable amount with a credit to profit or loss, but so
that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment
loss been recognized for the asset. For goodwill, impairment losses are not reversed in subsequent periods.
f) Leases
In order to determine whether an arrangement is, or contains, a lease, the Company assesses the economic substance of
the agreement, assessing whether the agreement conveys the right to control the use of an identified asset for a period of
time in exchange for consideration. Control is considered to exist if the customer has: i) the right to obtain substantially all the
economic benefits arising from the use of an identified asset; and ii) the right to direct the use of the asset.
f.1) Lessee
When the Group acts as a lessee at the commencement of the lease (i.e. on the date on which the underlying asset is available
for use) it records a right-of-use asset and a lease liability in the statement of financial position.
The Group initially recognizes right-of-use assets at cost. The cost of right-of-.use assets comprises: (i) the amount of the initial
measurement of the lease liability; (ii) lease payments (made until the commencement date less lease incentives received), (iii)
initial direct costs incurred; and (iv) the estimate of decommissioning or restoration costs.
Subsequently, the right-of-use asset is measured at cost, adjusted by any re measurement of the lease liability, less accumulated
depreciation and accumulated impairment losses. A right-of-use asset is depreciated on the same terms as other similar
depreciable assets, as long as there is reasonable certainty that the lessee will acquire ownership of the asset at the end of the
lease. If no such certainty exists, the leased assets are depreciated over the shorter of the useful lives of the assets and their
lease term. The same criteria detailed in Note 3.e are applied to determine whether the right-of-use asset has become impaired.
The lease liability is initially measured at the present value of the lease payments, discounted at the Company’s incremental
borrowing rate, if the interest rate implicit in the lease cannot be readily determined. The incremental borrowing rate is the
interest rate that the company would have to pay to borrow over a similar term, and with similar security, the funds necessary
to obtain an asset of similar value to the right-of-use asset in a similar economic environment. The Group determines its
incremental borrowing rate using observable data (such as market interest rates) or by making specific estimates when there are
no observable rates available (e.g., for subsidiaries that do not carry out financing transactions) or when they must be adjusted
to reflect the terms and conditions of the lease (e.g., when the leases are not in the functional currency of the subsidiary).
Lease payments included in the measurement of liabilities comprise: i) fixed payments, less any lease incentive receivable; ii)
variable lease payments that depend on an index or a rate; iii) residual value guarantees; iv) the exercise price of a purchase
option, if the Group is it is reasonably certain to exercise that option; and v) penalties for terminating the lease, if any.
After the commencement date, the lease liability increases to reflect the accrual of interest and is reduced by the lease
payments made. In addition, the carrying amount of the liability is remeasured if there is a change in the terms of the lease
(changes in the lease term, in the amount of expected payments related to a residual value guarantee, in the evaluation of
a purchase option or in an index or rate used to determine lease payments). Interest expense is recognized as finance cost
and distributed over the years making up the lease period, so that a constant interest rate is obtained in each year on the
outstanding balance of the lease liability.
Short-term leases of one year or less or leases of low value assets are exempt from the application of the recognition criteria described
above, with the payments associated with the lease recorded as an expense on a straight-line basis over the term of the lease.
Right-of-use assets and lease liabilities are presented separately from other assets and liabilities, respectively in the consolidated
statement of financial position.
Consolidated Financial Statements 389
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f.2) Lessor
When the Group acts as a lessor, it classifies at the commencement of the agreement whether the lease is an operating or
finance lease, based on the substance of the transaction. Leases in which all the risks and rewards incidental to ownership of an
underlying asset are substantially transferred are classified as finance leases. All other leases are classified as operating leases.
For finance leases, at the commencement date, the Company recognizes in its statement of financial position the assets
held under finance leases and presents them as an account receivable, for an amount equal to the net investment in the
lease, calculated as the sum of the present value of the lease payments and the present value of any accrued residual value,
discounted at the interest rate implicit in the lease. Subsequently, finance income is recognized over the term of the lease,
based on a model that reflects a constant rate of return on the net financial investment made in the lease.
For operating leases, lease payments are recognized as income on a straight-line basis, over the term of the lease unless
another type of systematic basis of distribution is deemed more representative. The initial direct costs incurred in obtaining
an operating lease are added to the carrying amount of the underlying asset and are recognized as expense throughout the
lease period, applying the same basis as for rental income.
g) Financial instruments
Financial instruments are contracts that give rise to both a financial asset in one entity and a financial liability or equity
instrument in another entity.
g.1) Financial assets other than derivatives
The Group classifies its non-derivative financial assets, whether permanent or temporary, excluding investments accounted
for using the equity method (see Notes 3.i and 13) and non-current assets and disposal groups held for sale or distribution
to owners (see Note 3.k), into three categories:
(i) Amortized cost:
This category includes the financial assets that meet the following conditions (i) the business model that supports the financial
assets seeks to maintain such financial assets to obtain contractual cash flows, and (ii) the contractual terms of such financial
assets give rise on specific dates to cash flows that are solely payments of principal and interest (SPPI criterion).
Financial assets that meet the conditions established in IFRS 9, to be valued at amortized cost in the Group are: cash equivalents,
accounts receivable and, loans. Such assets are recorded at amortized cost, which is the initial fair value, less repayments of
principal, plus uncollected accrued interest, calculated using the effective interest method.
The effective interest method is a method for calculating the amortized cost of a financial asset or a financial liability (or a group
of financial assets or financial liabilities) and allocating the finance income or finance costs throughout the relevant period.
The effective interest rate is the discount rate that exactly matches the estimated cash flows to be received or paid over the
expected useful life of the financial instrument (or when appropriate in a shorter period of time), with the net carrying amount
of the financial asset or financial liability.
(ii) Financial Assets Recorded at Fair Value through Other Comprehensive Income:
This category includes the financial assets that the meet the following conditions: (i) they are classified in a business model,
the purpose of which is to maintain the financial assets both to collect the contractual cash flows and to sell them, and (ii) the
contractual conditions meet the SPPI criterion.
These financial assets are recognized in the consolidated statement of financial position at fair value when this can be determined
reliably. For the holdings in unlisted companies or companies with low liquidity, it is usually not possible to determine the fair
value reliably. Therefore, when this occurs, such holdings are valued at their acquisition cost or for a lower amount if there is
evidence of their impairment.
Changes in fair value, net of their tax effect, are recorded in the consolidated statement of comprehensive income: Other
comprehensive income, until the disposal of these financial assets, where the accumulated amount in this section is fully
allocated to profit or loss for the period except for investments in equity instruments where the accumulated balance in other
comprehensive income is never reclassified to profit or loss.
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In the event that the fair value is lower than the acquisition cost, if there is objective evidence that the asset has suffered an
impairment that cannot be considered as temporary, the difference is recorded directly in the loss for the period.
(iii) Financial Assets Recorded at Fair Value through Profit or Loss:
This category includes the trading portfolio of the financial assets that have been allocated as such upon their initial recognition
and which are managed and assessed according to the fair value criterion, and the financial assets that do not meet the
conditions to be classified in the two categories indicated above.
These are measured at fair value in the consolidated statement of financial position and any changes in value are recorded
directly in profit or loss when they occur.
g.2) Cash and cash equivalents
This item within the consolidated statement of financial position includes cash and bank balances, time deposits, and other
highly liquid investments (with original maturity of less than or equal to 90 days) that are readily convertible into cash and are
subject to insignificant risk of changes in value.
g.3) Impairment of financial assets
Under IFRS 9, the Group applies an impairment model based on expected credit losses, based on the Group’s past history,
existing market conditions, and prospective estimates at the end of each reporting period. The impairment model is applied
to financial assets measured at amortized cost or those measured at fair value through other comprehensive income, except
for investments in equity instruments.
Expected credit loss is the difference between the contractual cash flows that are due in accordance with the contract and
all the cash flows that are expected to be received, i.e. all cash shortfalls), discounted at the original effective interest rate. It is
determined considering: i) the probability of default (PD); ii) loss given default (LGD), and iii) exposure at default (EAD).
To determine the expected credit losses the Group applies two separate approaches:
• General approach: applied to financial assets other than trade accounts receivable, contractual assets or lease receivables.
This approach is based on the evaluation of significant increases in the credit risk of financial assets, from the date of initial
recognition. If on the reporting date of the financial statements the credit risk has not increased significantly, the impairment
losses are measured related to the expected credit losses in the next 12 months; if, on the contrary, the credit risk has increased
significantly, the impairment is measured considering the expected credit losses throughout the lifetime of the asset.
In general, the measurement of expected credit losses for financial assets other than trade accounts receivable, contractual
assets or lease receivables, are performed separately.
• Simplified approach: The Group applies a simplified approach for trade receivables, contract assets and lease receivables
so that the impairment provision is always recognized related to the lifetime expected credit losses for the asset. This is
the approach that the Group has mostly most applied because trade receivables represent the main financial asset of Enel
Américas and its subsidiaries.
For trade accounts receivable, contractual assets and lease receivables, the Group applies two types of evaluations of expected
credit losses:
• Collective evaluation: based on grouping accounts receivable into specific groups or “clusters”, taking into account each business
and the local regulatory context. Accounts receivable are grouped according to the characteristics of customer portfolios
in terms of credit risk, maturity information and recovery rates. A specific definition of default is considered for each group.
To measure the expected credit losses collectively, the Group considers the following assumptions:
PD: average default estimate, calculated for each group of trade receivables, taking into account a minimum of 24-month
historical data.
LGD: calculated based on the recovery rates of a predetermined section, discounted at the effective interest rate; and
EAD: accounting exposure on reporting date, net of cash deposits, including invoices issued, but not due and invoices to be issued.
Consolidated Financial Statements 391
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• Analytical or individual evaluation: if accounts receivables are considered individually significant by Management and there
is specific information regarding any significant increase in the credit risk, the Group applies an individual evaluation of
accounts receivable. For the individual evaluation, the PD is obtained mainly from an external supplier, when it is possible
to do so, and the LGD through an internal model that considers the recovery rate and other contractual and financial
characteristics of accounts receivable. The expected credit loss is obtained by multiplying both factors by the EAD, which
is defined as the accounting exposure at the reporting date, including the invoices issued but not due and invoices to be
issued for services rendered, net of potential cash deposits obtained as guarantees.
On the basis of the benchmark market and the regulatory context of the sector, as well as the recovery expectations after 90
days, for those accounts receivable, the Group mainly applies a predetermined definition of 180 days overdue to determine
expected credit losses, since this is considered an effective indicator of a significant increase in credit risk.
Based on specific evaluations performed by Management, the prospective adjustment can be applied considering qualitative
and quantitative information to reflect possible future events and macroeconomic scenarios, which may affect the risk of the
portfolio or the financial instrument.
g.4) Financial liabilities other than derivatives
General financial liabilities are initially recognized, at fair value net of any costs incurred in the transaction. In subsequent
periods, these obligations are measured at their amortized cost using the effective interest method (see Note 3.g.1).
Lease liabilities are initially measured at the present value of future lease payments, determined in accordance with the criteria
described in Note 3.f.
In the particular case that a liability is the hedged item in a fair value hedge, as an exception, such liability is measured at its
fair value for the portion of the hedged Risk.
In order to calculate the fair value of debt, both when it is recorded in the statement of financial position and for fair value
disclosure purposes as shown in Note 22, debt has been divided into fixed interest rate debt (hereinafter “fixed-rate debt”) and
floating interest rate debt (hereinafter “floating-rate debt”). Fixed-rate debt is that on which fixed-interest coupons established
at the beginning of the transaction are paid explicitly or implicitly over its term. Floating-rate debt is that debt issued at floating
interest rate, i.e., each coupon is established at the beginning of each period based on the benchmark interest rate. All debt has
been measured by discounting expected future cash flows with a market interest rate curve based on the payment currency.
g.5) Derivative financial instruments and hedge accounting
Derivatives held by the Group are transactions entered into to hedge interest and/or exchange rate risk, intended to eliminate
or significantly reduce these risks in the underlying transactions being hedged.
Derivatives are recorded at fair value at the end of each reporting period as follows: if their fair value is positive, they are
recorded within “Other financial assets” and if their fair value is negative, they are recorded within “Other financial liabilities”.
For derivatives on commodities, positive fair value is recorded in “Trade and other receivables”, and negative fair value, if any,
is recognized in “Trade and other liabilities.”
Changes in fair value are recorded directly in profit or loss, except when the derivative has been designated for hedge
accounting purposes as a hedging instrument and all of the conditions for applying hedge accounting established by IFRS
are met, including that the hedge is highly effective. In this case, changes are recognized as follows:
• Fair value hedges: The underlying portion for which the risk is being hedged and the hedging instrument are measured at
fair value, and any changes in the value of both items are recognized in the statement of comprehensive income offsetting
the effects in the same caption of the statement comprehensive income.
• Cash flow hedges: Changes in the fair value of the effective portion of the hedged item and hedging instrument are recognized
in other comprehensive income and accumulated in an equity reserve referred to as “Hedging reserve.” The cumulative loss
or gain in this caption is transferred to the consolidated statement of comprehensive income to the extent that the hedged
item impacts the consolidated statement of comprehensive income offsetting the effect in the same comprehensive income
statement caption. Gains or losses from the ineffective portion of the hedging relationship are recognized directly in the
statement of comprehensive income.
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Hedge accounting is discontinued only when the hedging relationship (or a part of the relationship) fails to meet the required
criteria, after making any rebalancing of the hedging relationship, if applicable. If it is not possible to continue the hedging
relationship, including when the hedging instrument expires, is sold, settled or exercised, any gain or loss accumulated in
equity at that date remains in the equity until the forecast transaction affects the statement of comprehensive income. When
a forecast transaction is no longer expected to occur, the gain or loss accumulated in equity is immediately transferred to
the statement of income.
The Group does not apply hedge accounting to its investments abroad.
As a general rule, long-term commodity purchases or sales agreements are recognized in the statement of financial position
at their fair value at the end of each reporting period, recognizing any differences in value directly in profit or loss, except for,
when all of the following conditions are met:
• The sole purpose of the agreement is for its own use, which is understood as: for fuel purchase agreements such use is to
generate electricity; for electrical energy purchased for sale, its sale is to the end-customers; and for electricity sales its
sale is to the end-customers.
• The Group’s future projections evidence the existence of these agreements for own use.
• Past experience with agreements shows that they have been used for the Group’s “own use”, except for certain isolated
cases when for exceptional reasons or reasons associated with logistical issues, these have been used for other purposes
beyond the Group’s control and expectations.
• The agreement does not establish net settlement of differences and there has been no practice to settle similar differences
in similar contracts in the past.
The long-term commodity purchase or sale agreements maintained by the Group, which are mainly for electricity, fuel, and
other supplies, meet the conditions described above. Accordingly, the purpose of fuel purchase agreements is to use them
to generate electricity, electricity purchase contracts for use in sales to end-customers, and electricity sale contracts for sale
of the Group’s own products.
The Group also evaluates the existence of derivatives embedded in contracts or financial instruments to determine if their
characteristics and risk are closely related to the host contract, provided that when taken as a whole they are not being
accounted for at fair value. If they are not closely related, they are recorded separately and changes in value are accounted
for directly in the statement of comprehensive income.
g.6) Derecognition of financial assets and liabilities
Financial assets are derecognized when:
• The contractual rights to receive cash flows from the financial asset expire or have been transferred or, even when, the
Group has assumed a contractual obligation to pay these cash flows to one or more recipients.
• The Group has substantially transferred all the risks and rewards of their ownership, or, if it has neither assigned nor retained
substantially all the risks and rewards, when it does not retain control of the financial asset.
For transactions in which the Group retains substantially all the inherent risks and rewards of ownership of the financial asset
assigned, it recognizes them as a financial liability for the consideration received. Transactions costs are recognized in profit
and loss by using the effective interest method (see Note 3.g.1).
Financial liabilities are derecognized when they are extinguished; i.e., when the obligation arising from the liability has been
paid or cancelled, or has expired. An exchange for a debt instrument with substantially different conditions, or a substantial
modification in the current conditions of an existing financial liability (or a part thereof), is recorded as a cancellation of the
original financial liability, and a new financial liability is recognized.
Consolidated Financial Statements 393
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The Group offsets financial assets and liabilities and the net amount is presented in the statement of financial position only when:
• there is a legally binding right to offset the amounts recognized; and
• the Group intends to settle them on a net basis, or to realize the asset and settle the liability simultaneously.
Such rights may only be legally enforceable in the normal course of business, or in the event of default, or in the event of
insolvency or bankruptcy, of one or all the counterparties.
g.8) Financial guarantee contracts
The financial guarantee contracts, defined as the guarantees issued by the Group to third parties, are initially measured at their
fair value, adjusted for transaction costs that are directly attributable to the issuance of the guarantee.
Subsequent to initial recognition, financial guarantee contracts are recognized at the higher of:
• the amount of the liability determined in accordance with the accounting policy described in Note 3.m; and
• the amount of the asset initially recognized less, if applicable, any accumulated amortization recognized in accordance with
the revenue recognition policies described in Note 3.q.
h) Fair value measurement
The fair value of an asset or liability is defined as the price that would be received from the sale of an asset or paid to transfer
a liability in an orderly transaction between market participants at the measurement date.
Fair value measurement assumes that the transaction to sell an asset or transfer a liability occurs in the principal market, namely,
the market with the greatest volume and level of activity for that asset or liability. In the absence of a principal market, it is assumed
that the transaction is carried out in the most advantageous market available to the entity, namely, the market that maximizes
the amount that would be received to sell the asset or minimizes the amount that would be paid to transfer the liability.
In estimating fair value, the Group uses valuation techniques that are appropriate for the circumstances and for which there is sufficient
data to perform the measurement where it maximizes the use of relevant observable data and minimizes the use of unobservable data.
Given the hierarchy explained below, data used in the valuation techniques, assets and liabilities measured at fair value can
be classified at the following levels:
Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities;
Level 2: Inputs other than quoted prices included in Level 1 that are observable for the assets or liabilities, either directly (i.e.
as prices) or indirectly (i.e. derived from prices). The methods and assumptions used to determine the fair values at Level 2 by
type of financial assets or financial liabilities take into consideration estimated future cash flows discounted at market rates.
Future cash flows for financial assets and financial liabilities are discounted with the zero coupon interest rate curves for each
currency (these valuations are performed using external tools such as Bloomberg); and
Level 3: Inputs for assets or liabilities that are not based on observable market data (unobservable inputs).
The Group takes into account the characteristics of the asset or liability when measuring fair value, in particular:
• For non-financial assets, fair value measurement takes into account the ability of a market participant to generate economic
benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset
at its highest and best use;
• For liabilities and equity instruments, the fair value measurement assumes that the liability would not be settled and an
equity instrument would not be cancelled or otherwise extinguished on the measurement date. The fair value of the liability
reflects the effect of non-performance risk, namely, the risk that an entity will not fulfill the obligation, which includes but
is not limited to, the Company’s own credit risk;
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• For derivatives not traded in active markets, the fair value is determined by using the discounted cash flow method and
generally accepted options valuation models, based on current and future market conditions as of the closing date of
the financial statements. This methodology also adjusts the value based on the Company’s own credit risk (Debt Valuation
Adjustment, DVA), and the counterparty risk (Credit Valuation Adjustment, CVA). These CVA and DVA adjustments are measured
on the basis of the potential future exposure of the instrument (asset or liability position) and the risk profile of both the
counterparties and the Group itself; and
• For financial assets and financial liabilities with offsetting positions in market risks or counterparty credit risks, measuring
the fair value on a net basis is allowed. However, this must be consistent with the manner in which market participants would
price the net risk exposure at the measurement date.
Financial assets and financial liabilities measured at fair value are shown in Note 22.3.
i) Investments accounted for using the equity method
The Group’s interests in joint ventures and associates (see Notes 2.5 and 2.6 respectively) are recognized using the equity
method of accounting.
Under the equity method of accounting, an investment in an associate or joint venture is initially recognized at cost. As of the acquisition
date, the investment is recognized in the statement of financial position based on the share of equity that the Group’s interest represents
in capital, adjusted for, if appropriate, the effect of transactions with the Group plus any goodwill generated in acquiring the company.
If the resulting amount is negative, zero is recorded for that investment in the statement of financial position, unless the Group has
a present obligation (either legal or constructive) to reinstate the Company’s equity position, in which case a provision is recognized.
The financial statements of associates or joint ventures are prepared for the same reporting period as the Group. When
required, adjustments are made to align the accounting policies with those of the Group.
Goodwill from the associate or joint venture is included in the carrying amount of the investment. It is not amortized but is
subject to impairment testing as part of the overall investment carrying amount when there are indicators of impairment.
Dividends received from these investments are deducted from the carrying amount of the investment, and any profit or loss
obtained from them to which the Group is entitled based on its ownership interest is recognized under “Share of profit (loss)
of associates accounted for using the equity method of accounting.”
j) Inventories
Inventories are measured at their weighted average acquisition cost or the net realizable value, whichever is lower.
The net realizable value is the estimated selling price in the ordinary course of business less the applicable costs to sell.
The cost of inventories includes all costs of purchase and all necessary costs incurred in bringing the inventories to their
present location and condition net of trade discounts and other rebates.
k) Non-current assets (or disposal groups of assets) held for sale or held
for distribution to owners and discontinued operations
Non-current assets, including property, plant and equipment; intangible assets; investments accounted for using the equity
method of accounting and joint ventures and disposal groups (a group of assets for disposal or distribution together with
liabilities directly associated with those assets), are classified as:
• Held for sale, if their carrying amount will be recovered mainly through a sale transaction rather than through continuing use, or
• Held for distribution to owners, when the entity is committed to distribute the assets (or disposal groups) to the owners.
For the above classifications, the assets must be available for immediate sale or distribution in their present condition and
their sale or distribution must be highly probable. For a transaction to be considered highly probable, management must be
committed to the sale or distribution and actions to complete the transaction must have been initiated and should be expected
to be completed within one year from the date of classification.
Consolidated Financial Statements 395
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can be made or that the plan will be cancelled. The probability of shareholders’ approval (if required in the jurisdiction) should
be considered as part of the assessment of whether the sale or distribution is highly probable.
The assets or disposal groups classified as held-for-sale or held for distribution to owners are measured at the lower of their
carrying amount and fair value less costs to sell or costs to distribute, as appropriate.
Depreciation and amortization on these assets cease when they meet the criteria to be classified as non-current assets held
for sale or held for distribution to owners.
Assets that are no longer classified as held for sale or held for distribution to owners, or are no longer part of a disposal group,
are measured at the lower of their carrying amounts before being classified as held for sale or held for distribution, less any
depreciation, amortization or revaluation that would have been recognized had they had not been classified as held for sale
or held for distribution to owners and their recoverable amount at the date of reclassification non-current assets.
Non-current assets held for sale and the components of the disposal groups classified as held for sale or held for distribution
to owners are presented in the consolidated statement of financial position as a single line item within assets referred to as
“Non-current assets or disposal groups held for sale or for distribution to owners”, and the related liabilities are presented as a
single line item within liabilities referred to as “Liabilities included in disposal groups held for sale or for distribution to owners”.
The Group classifies as discontinued operations those components of the Group that either have been disposed of, or are
classified as held for sale and:
(i) represent a separate major line of business or geographical area of operations;
(ii) is part of a single coordinated plan to dispose of a separate major line of business or geographical area of operations; or
(iii) is a subsidiary acquired exclusively with a view to its resale.
The after-tax results of discontinued operations are presented in a single line of the statement of comprehensive income
referred to as "Profit (loss) from discontinued operations", as well as the gain or loss recognized from the measurement at
fair value less costs to sell or from the disposal of the assets or groups for disposal comprising the discontinued operation.
l) Treasury shares
Treasury shares are presented deducting the caption “Total equity” in the consolidated statement of financial position and
measured at acquisition cost.
Gains and losses from the disposal of treasury shares are recognized directly in “Total Equity – Retained earnings (losses)”,
without affecting profit or loss for the period.
m) Provisions
Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, it is
probable that an outflow of economic benefits will be required to settle the obligation, and a reliable estimate can be made
of the amount of the obligation.
The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at
the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision
is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those
cash flows (when the effect of the time value of money is material). The unwinding of the discount is recognized as finance
cost. Incremental legal costs expected to be incurred in resolving a legal claim are included in measuring of the provision.
Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate. If it is no longer
probable that an outflow of resources embodying economic benefits will be required to settle the obligation, the provision is reversed.
A contingent liability does not result in the recognition of a provision. Legal costs expected to be incurred in defending a legal
claim are expensed as incurred. Significant contingent liabilities are disclosed unless the likelihood of an outflow of resources
embodying economic benefits is remote.
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m.1) Provisions for post-employment benefits and similar obligations
Certain of the Group’s companies have entered into pension and other similar commitments with their employees. Those
defined benefit and defined contribution commitments are basically through pension plans, except for those related to
certain benefits in lieu of payment, basically commitments to supply electric energy, which, due to their nature have not been
outsourced and their coverage is provided through the related internal provision.
For defined benefit plans, the companies record the related expense for these commitments following the accrual criteria over
the service life of the employees through timely actuarial studies performed as of the reporting date calculated applying the
projected credit unit method. The cost of past services which correspond to variances in benefits is recognized immediately.
The defined benefit plan obligations in the statement of financial position represent the present value of the accrued obligations,
upon deduction of the fair value of the different plans’ assets, if any.
For each defined benefit plan, if the difference between the actuarial liability for past services and the plan assets is positive, it is
recognized under line item “Provisions for employee benefits” in liabilities in the consolidated statement of financial position, and if
such difference is negative is recognized under line item “Other financial assets” in the consolidated statement of financial position,
provided that is recoverable for the Group, usually through a reduction in future contributions and taking into consideration the
limit established in IFRIC 14, IAS 19 The Limit on a Defined Benefit Asset, Minimum Funding Requirements, and their interaction.
Actuarial gains and losses arising from measurements of both the plan liabilities and the plan assets, including the limit in
IFRIC 14, are recognized directly as a component of other comprehensive income.
Contributions to defined contribution benefit plans are recognized as an expense when the employees have rendered provide their services.
n) Translation of balances in foreign currency
Transactions performed by each entity in a currency other than its functional currency are recognized using the exchange
rates prevailing as of the date of the transactions. During the period, differences arising between the prevailing exchange
rate at the date of the transaction and the exchange rate as of the date of collection or payment are recognized as “Foreign
currency translation differences” in the consolidated statement of comprehensive income.
Likewise, at the end of each reporting period, balances receivable or payable denominated in a currency other than each
entity’s functional currency are remeasured using the closing date exchange rate. Any differences are recorded as “Foreign
currency translation differences” in the consolidated statement of comprehensive income.
The Group has established a policy to hedge the portion of revenue from its consolidated entities that is directly linked to
variations in the U.S. dollar, through obtaining financing in such currency. Exchange differences related to this debt, which is
regarded as the hedging instrument in cash flow hedge transactions, are recognized, net of taxes, in other comprehensive
income and are accumulated in an equity reserve and recorded in profit or loss in the term in which the cash flows hedged
will be realized. This term has been estimated as ten years.
o) Classification of balances as current or non-current
In these consolidated statements of financial position, balances are classified according to their maturity, i.e., those maturing within
twelve months are classified as current (except for provisions for post-employment obligations and other similar ones). Balances
maturing in more than twelve months are classified non-current. Deferred tax assets and liabilities are classified as non-current.
When the Group has any obligations that mature in less than twelve months but can be refinanced over the long term at the Group’s discretion,
through unconditionally available loan agreements with long-term maturities, such obligations are classified as non-current liabilities.
p) Income taxes
Income tax expense for the period is determined as the sum of current taxes from each of the Group’s subsidiaries and results
from applying the tax rate to the taxable income for the period, after deductions allowed have been made, plus any changes
in deferred tax assets and liabilities and tax credits, both for tax losses and deductions. Differences between the carrying
amount and tax basis of assets and liabilities generate deferred tax assets and liabilities, which are calculated using the tax
rates expected to be applied when the assets and liabilities are realized or settled, based on tax rates that have been enacted
or substantively enacted by the end of the reporting period.
Consolidated Financial Statements 397
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Deferred tax assets are recognized for all deductible temporary differences, tax losses and unused tax credits to the extent
that it is probable that sufficient future taxable profits exist to recover the deductible temporary differences and use the tax
credits. Such deferred tax asset is not recognized if the deductible temporary difference arises from the initial recognition
of an asset or liability that:
• did not arise from a business combination; and
• at initial recognition provide it affected neither accounting profit nor taxable profit (loss).
With respect to deductible temporary differences associated with investments in subsidiaries, associates and joint arrangements,
deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the
foreseeable future and taxable profits will be available against which the temporary differences can be utilized.
Deferred tax liabilities are recognized for all temporary differences, except for those derived from the initial recognition of
goodwill and those that arose from investments in subsidiaries, associates and joint ventures in which the Group can control
their reversal and where it is probable that they will not be reversed in the foreseeable future.
Current tax and changes in deferred tax assets or liabilities are recorded in profit or loss or in equity, depending on where the
gains or losses that triggered these tax entries have been recognized.
Any tax deductions that can be applied to current tax liabilities are credited to earnings within the line item “Income tax
expenses”, except when uncertainty exists about their tax realization, in which case they are not recognized until they are
effectively realized, or when they relate to specific tax incentives, in which case they are recorded as grants.
At the end of each reporting period, the Group reviews the deferred tax assets and liabilities recognized, and makes, any
necessary adjustments based on the results of this analysis.
Deferred tax assets and deferred tax liabilities are offset in the consolidated statement of financial position if the Group has
a legally enforceable right to set off current tax assets against current tax liabilities, and only when the deferred taxes relate
to income taxes levied by the same tax authority.
q) Revenue and expense recognition
Revenue is recognized when (or as) the control over a good or service is transferred to the customer. Revenue is measured
based on the consideration to which the Group is expected to be entitled for said transfer of control, excluding the amounts
collected on behalf of third parties.
The Group analyzes and takes into consideration all the relevant facts and circumstances for revenue recognition, applying the
five step model established by IFRS 15: 1) Identifying the contract with a customer; 2) Identifying the performance obligations;
3) Determining the transaction price; 4) Allocating the transaction price; and 5) Recognizing revenue.
The following are the criteria for revenue recognition by type of good or service provided by the Group:
• Electricity supply (sale and transportation): Corresponds to a single performance obligation that transfers to the customer
a number of different goods/services that are substantially the same and that have the same transfer pattern. Since the
customer receives and simultaneously consumes the benefits provided by the Company, it is considered a performance
obligation met over time. In these cases, the Group applies an output method to recognize revenue in the amount to which
it is entitled to bill for electricity supplied to date.
• Generation: revenue is recorded according to the physical deliveries of energy and power, at the prices established in the
respective contracts, at the prices established in the electricity market by the current regulations, or at the marginal cost
of energy and power, depending on whether they are unregulated customers, regulated customers or energy trading in
the spot market are involved, respectively.
• Distribution of electricity: revenue is recognized based on the amount of energy supplied to customers during the period, at
prices established in the related contracts or at prices stipulated in the electricity market by applicable regulations, as appropriate.
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Integrated Annual Report Enel Américas 2021
These revenues include an estimate of the service provided and not invoiced, at the reporting date (see Notes 2.3 and 27 and
Appendix 3.2).
• Other Services: mainly the provision of supplementary services to the electricity business, construction of works and
engineering and consulting services. Customers control committed assets as they are created or improved. Therefore,
the Company recognizes this revenue over time based on the progress, measuring progress through output methods
(percentage of completion through the present date, milestones reached, etc.), or costs incurred (resources consumed,
hours of labor spent, etc.), as appropriate in each case.
• Sale of goods: revenue from the sale of goods is recognized at a certain time, when control of the goods has been transferred
to the customer, which generally occurs at the time of the physical delivery. Revenues are measured at the independent
sale price of each good, and any type of applicable variable compensation.
In contracts in which multiple committed goods and services are identified, the recognition criteria will be applied to each of
the identifiable performance obligations of the transaction, based on the control transfer pattern of each good or service that
is separate and an independent selling price allocated to each of them, or jointly to two or more transactions, when these are
linked to contracts with customers that are negotiated with a single business purpose and the goods and services committed
represent a single performance obligation and their selling prices are not independent.
Enel Américas determines the existence of significant financing components in its contracts, adjusting the value of the
consideration if applicable, to reflect the effects of the time value of money. However, the Group applies the practical expedient
provided by IFRS 15, and will not adjust the value of the consideration committed for the purpose of a significant financing
component, if it expects, at the beginning of the contract, that the period between the payment and the transfer of goods
or service to the customer is one year or less.
The Group excludes the gross revenue of economic benefits received when acting as an agent or broker on behalf of third parties
from the revenue amount. The Group only records as revenue the payment or commission to which it expects to be entitled.
Because the Group mainly recognizes revenue for the amount to which it has the right to invoice, it has decided to apply the
disclosure practical expedient provided in IFRS 15, through which it is not required to disclose the aggregate amount of the
transaction price allocated to the performance obligations not met (or not met partially) at the end of the reporting period.
In addition, the Group evaluates the existence of incremental costs of obtaining a contract and costs directly related to the fulfillment
of a contract. These costs are recognized as an asset, if their recovery is expected, and amortized in a manner consistent with the
transfer of the related goods or services. As a practical expedient, the incremental costs of obtaining a contract are recognized
as an expense, if the depreciation period of the asset that has been recognized is one year or less. Costs that do not qualify for
capitalization are recognized as expenses at the time they are incurred, unless they are explicitly attributable to the customer.
As of December 31, 2021 and 2020, the Group has not incurred costs to obtain or perform a contract which meet the conditions
for their capitalization. The costs incurred to obtain a contract are substantially commission payments for sales that, although
are incremental costs, relate to short-term contracts or performance obligations that are met at a certain time, therefore, the
Group has decided to recognize these costs as an expense when they occur.
Interest income (expenses) are recorded considering the effective interest rate applicable to the principal pending amortization,
during the related accrual period.
r) Earnings per share
Basic earnings per share are calculated by dividing net income attributable to shareholders of the Parent Company by the
weighted average number of common shares outstanding during the period, excluding the average number of shares of the
Company held by other subsidiaries within the Group, if any.
Basic earnings per share for continuing and discontinued operations are calculated by dividing net income from continuing
and discontinued operations attributable to shareholders of the Company (the numerator) by the weighted average number
of shares of common stock outstanding (the denominator) during the year, excluding the average number of shares of the
Company held by other subsidiaries within the Group.
Diluted earnings per share is calculated by dividing profit attributable to shareholders of the Parent Company by the weighted
average number of common shares outstanding during the period plus the weighted average number of common shares of
that would be issued on conversion of all the potential dilutive securities into common shares, if any.
Consolidated Financial Statements 399
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s) Dividends
Article No. 79 of Law No. 18,046 (the Chilean Corporations Law) establishes that, unless unanimously agreed otherwise by the
shareholders of all issued shares, listed corporations must distribute a cash dividend to shareholders on an annual basis, pro
rata among the shares owned or the proportion established in the Company’s by-laws if there are preferred shares, of at least
30% of profit for each year, except when accumulated losses from prior years must be absorbed.
As it is practically impossible to achieve a unanimous agreement given Enel Américas’ highly fragmented share ownership, at
the end of each reporting period the amount of the minimum statutory dividend obligation to its shareholders is determined,
net of interim dividends approved during the period, and then accounted for in “Trade and other payables, current” and
“Current accounts payable to related parties”, as appropriate, and recognized in equity.
The interim and final dividends are deducted from equity when approved by the relevant authority, which in the first case
is normally the Board of Directors and in the second case is the responsibility of the shareholders as agreed at a General
Shareholders’ Meeting.
t) Share issuance costs
Share issuance costs, only when they represent incremental expenses directly attributable to the transaction, are recognized
directly in net equity as a deduction from “Share premiums,” net of any applicable taxes.
If the share premium account has a zero balance or if the costs described exceed the balance, they are recognized in “Other
reserves”. Subsequently, these costs must be deducted from paid-in capital, and this deduction must be approved at an
Extraordinary Shareholders’ Meeting, which occurs immediately after the date on which the disbursements were incurred.
Share issuance and placement expenses directly related to a probable future transaction are recorded as prepaid expenses
in the statement of financial position. These expenses are recorded in equity upon issuance and placement of the shares, or
in profit or loss when the conditions change and the transaction is no longer expected to occur.
u) Statement of cash flows
The statement of cash flows reflects changes in cash and cash equivalents that took place during the period, determined with
the direct method. It uses the following definitions and related meanings:
• Cash flows: inflows and outflows of cash or cash equivalents, which are defined as highly liquid investments maturing in less
than three months with a low risk of changes in value.
• Operating activities: the principal revenue-producing activities of the Group and other activities that cannot be considered
investing or financing activities.
• Investing activities: the acquisition and disposal of long-term assets and other investments not included in cash and cash
equivalents.
• Financing activities: activities that result in changes in the size and composition of the total equity and borrowings of the
Group.
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NOTA 4. Sector regulation and electricity system operations
i. Regulatory Framework:
a) Argentina
Structure and regulatory entities of the Argentine Electricity Market
The Argentine electric regulatory framework is set up by Law No. 24,065, which defines vertical segmentation for electricity
generation, transmission, and distribution activities.
Law No. 24,065 established the bases for the creation of the Electricity Regulatory Body (“ENRE”), management of the Wholesale
Electricity Market (“MEM”), the setting of spot prices and regulated tariffs.
In the Argentine Wholesale Electricity Market (MEM), there are four categories of local agents: generation companies,
transmission companies, distribution companies and large customers, and two external agents: generation trading companies
and demand trading companies, which are authorized to buy and sell electricity and related products. The Argentine autonomous
entity in charge of operating the “MEM” is “Compañía Administradora del Mercado Mayorista Eléctrico S.A.” (CAMMESA), which
also manages the fuel used by generating plants.
Despite Law No. 24,065 and its subsequent regulations, the continuous economic crises that Argentina has been experiencing
has led the government to intervene in the electricity market.
Electric Power Generation
The electricity generation segment consists of companies that own electricity generation plants. These companies sell electricity
to the market, at a price set by the regulatory body, which also carries out pricing updates and readjustments. The latest
readjustment to generators’ tariffs reached 29% and was established by Resolution No. 440, published on May 21, 2021. This
readjustment has been applied retroactively on the tariffs identified in Resolution SE No. 31/2020, from February 2021 onwards.
On November 2, 2021, Resolution SE No. 1,037/21 was passed, which gives a compensation benefit in addition to that established
in Resolution No. 440 for thermal and hydraulic power generators that export energy to interconnected neighboring countries,
and which will cover transactions between September 1, 2021, and February 28, 2022.
The revenue collected by CAMMESA will be assigned to a stabilization fund for the MEM to ultimately fund energy infrastructure
works, which will be assigned at the time as established by the Ministry of Energy.
Renewable Energy
In Argentina, on October 21, 2015, Law No. 27,191 for Renewable Energy was issued. The new regulation postpones reaching an 8% share
in the national demand of energy with renewable sources for generation to December 31, 2017 and establishes a second stage goal of
reaching a 20% share in 2025 by establishing milestones of 12% at the end of 2019, 16% at the end of 2021 and 18% at the end of 2023.
Electric Power Transmission
The electricity transmission sector is a public service that operates under monopolistic conditions and is made up of several companies
to which the Argentine government grants concessions. A concessionaire operates and maintains the highest voltage facilities, and
eight concessionaires operate and maintain the medium and low voltage facilities, to which generating companies, distribution
companies and large customers are connected. Transmission companies are authorized to charge different tariffs for their services.
Electric Power Distribution
Electricity distribution is a public service that operates under monopolistic conditions and is made up of companies that the Argentine
government has granted concessions to. Distribution companies have the obligation to supply electricity to individual customers
within a specific concession area, whether or not these customers have a contract with the distribution company or directly with
a generating company. Distribution companies have regulated tariffs and are subject to quality standards. Distribution companies
can purchase electricity on the Argentine “MEM” spot market, at the so-called “seasonal price” defined by the Argentine SEE as
“the maximum cost of electricity purchased by distributors that can be passed on to regulated customers”.
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On August 17, 2021, by Resolution No. 267, the ENRE ordered the creation of a "Database for monitoring outages" within the
context of compliance with the service that electricity distribution companies must provide. The aim was to evaluate the
technical and operational response of distribution companies to users’ complaints of a lack of supply. This resolution seeks
to oversee how distribution companies assist and follow up on their customers’ complaints, in order to restore their access to
power as quickly as possible. Priority is given to customers who have been identified as “electro-dependent”, for health reasons.
Electricity tariffs are regulated by the Argentine “ENRE”, based on the Comprehensive Tariff Review (“RTI”) process, which
determines tariff charts, their duration and relevant adjustments over time.
In 2006 and during the last Comprehensive Tariff Review in 2017, a series of disputes arose between Edesur and the regulatory
body ENRE. This cumulated with the signing of the “Obligation Regularization Agreement” on May 10, 2019. On September
21, MECON´s Resolution No. 590/21 declared that this agreement is harmful to public interest and ordered the suspension
of its administrative procedures with respect to the agreement. MECON also instructed the Litigation Department of Energy
to initiate judicial actions to nullify the aforementioned Agreement.
The Resolution does not attribute any breach of the Agreement to Edesur. However, the Agreement is still in force, as it has
been signed by the parties’ representatives. Therefore, it is being carried out and is considered to be firm.
Tariff Revisions
On February 1, 2017, the ENRE published Resolution No. 64/2017 in the Argentine Official Gazette, by which the tariff charts
resulting from the Comprehensive Tariff Review (RTI) process were approved. However, the Argentine authorities have been
postponing and freezing electricity tariffs throughout 2020, and part of 2021, by means of Law No. 27,541 on Social Solidarity
and Productive Reactivation. This is due to the economic crises experienced by the country, which have been aggravated by
the Covid-19 pandemic.
DNU No. 1,020 recognizes that under Law No. 27,541 there has been a tariff reduction (maintenance of tariffs in an inflationary
environment), that was necessary to mitigate the emergency economic situation. At the same time, DNU No. 1,020 recognizes
that a tariff readjustment mechanism must be established to guarantee the normal provision of services. Consequently, this
DNU establishes the obligation to start a Comprehensive Tariff Renegotiation Process that results in a Definitive Renegotiation
Agreement, in a period less than 2 years.
Until a definitive RTI is reached, under the new scenario according to DNU No. 1,020, the ENRE is authorized to establish
transitory tariff readjustments, thus ensuring stability to the provision of services.
On March 21, 2021 the ENRE established a new transitory tariff chart by means of Resolution No. 79/2021, which was readjusted
by 9% through resolution No. 106, dated April 30, 2021, pending the Comprehensive Tariff Renegotiation Process.
The ENRE approved new tariff charts effective as of August 1, 2021, by Resolutions No. 263/2021 and No. 266/2021. These tariff
charts only modify the Stabilized Seasonal Price for Demands Greater than 300 kWh/month under Resolution No. 748/21 of
Secretary of Energy (+3.1%, from ARS$ 5,020 to ARS$ 5,176 / kWh), and do not modify the Distribution Added Value perceived
by Edesur.
Other regulatory aspects
Due to the health crisis, a series of regulations has been issued to regulate different situations produced by the Covid-19
pandemic. It should be noted that these measures are still in effect thanks to the extension of the state of health emergency
until December 31, 2022, by way of Decree 867 of December 24, 2021, which prevents electricity shut-offs for certain customers,
agreements to assign Edesur’s pending debts due to service outages between 2017 and 2020 to works to improve the electricity
service and status of the network that supplies lower-class neighborhoods with collective meters and other sensitive zones
in the concession areas, as mechanisms to repair debts held by distributors with CAMMESA, the temporary suspension of
the issuance of Debit Notes and Complementary Liquidations for unrecorded consumption.
In this context, on January 21, 2021, the Ministry of Energy issued Resolution No. 40, establishing a “Special Regime for Obligation
Regularization” for debts incurred by distribution companies with CAMMESA arising from energy consumption, power, as well as
interest and/or penalties accumulated as of September 30, 2020. This Resolution initiates the regularization process established
by Article 87 of Law No. 27,591. On April 28, 2021, the Secretariat of Energy issued Resolution No. 371/2021, which establishes
the criteria that must be considered in agreements for the regularization of obligations with the MEM to which the Distribution
Agents will adhere. All the above is established within the provisions of Article 87 of Law No. 27,591 on the 2021 National Budget,
which establishes a recognition of credits in favor of Distributing Agents for up to five times the average monthly invoicing of the
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last year or sixty six percent (66%) of the debt accumulated with CAMMESA as of September 30, 2020. Likewise, mechanisms
that promote investments in energy efficiency and improvements to the quality of electric power distribution services can be
agreed upon and executed. Subsequently, on May 14, 2021, the SE was instructed to carry out a new extension (until May 30, 2021)
of the term provided by Article 6 of Resolution S.E. No. 40/2021 within the same framework, and to apply the same treatment
of terms and reduced interest rates to debts taken out after September 30, 2020 and until April 30, 2021. Hence, negotiations
were upheld regarding the transition regime between the Secretariat, the regulatory bodies and the distribution companies.
b) Brazil
Structure and regulatory bodies in the Brazilian Electricity System
The legislation in Brazil allows the participation of private equity in the electricity sector, upholds free competition among
companies in electricity generation and transmission, and defines criteria to avoid certain levels of economic concentration
and/or market practices that may cause a decline in free competition.
The main electricity regulatory entity in Brazil is the National Electric Energy Agency (“ANEEL”). Its role includes auditing
concessions and authorizations for the generation, transmission and distribution of electric power, the promulgation of
the sectorial regulatory framework, the regulation of use of primary electrical resources, including the use of hydroelectric
resources, and the establishment of bidding processes under the supervision of the Ministry of Mines and Energy (“MME”),
among other responsibilities.
Brazil’s National Interconnected System (“SIN”) is made up of four large subsystems: South, Southeast/Central-West (which is
the largest in the country in terms of demand, as it serves the region with the largest population and industrial production),
North and Northeast.
The National Electric System Operator (“ONS”) was created in 1998 and is the entity that is responsible for the coordination
and supervision of the “SIN” electric power generation and transmission facilities.
The Electric Power Trading Chamber (“CCEE”) operates the electricity purchase and sales market in Brazil through carrying
out the financial settlement of the market, which includes contracts negotiated in the free and regulated market.
Electric Power Generation
The electric power generation sector is organized on a competitive basis. Independent electricity producers execute Power
Purchase Agreements (“PPAs”) with regulated distributors through centralized energy auctions and non-regulated marketers or
customers through bilateral contracts. In both the regulated and non-regulated markets, differences between production and
sales (demand) are traded in the short term or in cash at the “Settlement Price for Differences” (“PLD”). Although a generator
can sell its electricity in the regulated or unregulated market, all contracts must be registered with the CCEE.
Sales to the regulated market must be made through auctions, which seek to organize the existing electric power generation
capacity and future projects. Prices differ according to the type of technology used and the deadlines agreed on.
Currently, Enel Green Power Brazil is building 692 MW of installed capacity from solar (São Gonçalo III) and wind projects
(Lagoa dos Ventos III, Morro do Chapéu Sul II, Fontes dos Ventos II, Cumaru e Aroeira). These clean energies were essentially
traded on the free market.
There is also a mechanism called the Electricity Relocation Mechanism (“MRE”) used by hydroelectric generators to reallocate
the hydrological risk by compensating differences between the established production capacity of a hydrological plant and
its actual production.
On November 30, 2021, the Electricity Regulator (ANEEL) passed the new regulations for Hybrid Power Plants (REN 954/2021)
as of January 2022. The rule, which establishes requirements and procedures to obtain the necessary authorizations, will allow
for a complementary exchange in connection from different generation sources in order to optimize system transmission.
A new Decree establishes that the Regulator will grant the authorization of electric power plants for protocols performed up
to March 3, 2022, with no need for a specific document issued by the system operator (access information). This document
indicates the viability, or unviability, of network connection in relation to the generation capacity margin. Moreover, the Decree
foresees the possibility of the Regulator and Ministry carrying out a competitive bid process with respect to generation margin
capacity to access the national interconnected system.
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Electric Power Transmission
The electricity transmission sector operates under public/private monopoly conditions with concession contracts granted
through bids. The ANEEL sets the annual revenues of all electricity transmission companies operating in Brazil. Transmission
revenue considers a fixed tariff for the availability of transmission assets, which does not depend on the amount of electricity that
flows through the transmission lines. The transmission network comprises any transmission asset that operates above 138 kV.
On June 19, 2020, the Ministry of Mining and Energy published ordinance No. 255, which officially designates Enel CIEN to continue
operating the Garabi 1 facilities until a new operator is designated through the bid process, which will probably start in August
2022. Until that date, Enel CIEN will receive annual revenue (RAP) calculated according to the current criteria and methodology.
Electric Power Distribution
Distribution is a public service that operates under the conditions of natural monopoly. The companies authorized to distribute
electricity have been granted a concession to operate in a geographically defined concession area. Electricity concession
holders must acquire electric power from the regulated market.
These regulatory mechanisms ensure the creation of regulatory assets/liabilities, whose tariff adjustment for possible deficits
will be made from in the subsequent tariff adjustments that will occur in 2023 (March 15 for Enel Distribución Río S.A. (formerly
Ampla), April 22 for Enel Distribución Ceará S.A. (formerly Coelce), July 4 for Enel Distribución São Paulo (formerly Eletropaulo)
and October 22 for Enel Distribución Goiás). This mechanism has existed since 2001, and is called the Securities Compensation
Account - Part A (CVA in its Portuguese acronym) which is aimed at maintaining consistent operating margins for the dealer
by allowing tariff revenue from costs of Part A.
The final tariff revisions of Enel distributors were performed in 2018 (Enel Distribución Río and Enel Distribución Goiás) and
2019 (Enel Distribución Ceará and Enel Distribución São Paulo). The Enel distributors’ next revisions will be performed in 2023.
The latest tariff modifications are summarized as follows:
Company
Enel Distribución Rio
Enel Distribución Ceará
Enel Distribución Sao Paulo
Enel Distribución Goias
Rate adjustment
date
March 2021
April 2021
June 2021
October 2020
Average gain setting
High
voltage
+10.38%
+10.21%
+3.67%
+14.21%
Low
voltage
+4.63%
+8.54%
+11.38%
+17.32%
In January 2015, based on the mismatches between the costs recognized in tariffs and actual costs other than those related
to operations of distribution entities, ANEEL began the application of a Pricing System known as “Tariffs Flags” of additional
monthly charges over the tariff to the customers, provided that the marginal cost of the system is higher than the regulatory
standard.
The Tariff Flags System is comprised of three levels of colored flags: Red, Yellow and Green.
On August 31, 2021, the Ministry of Mines and Energy (“MME”) determined, through CREG Resolution No. 3/2021, that the
National Electric Power Agency (“ANEEL”) implement the Flag Fee for Water Scarcity in the amount of BRL 142.00 / MWh (US
$ 26.28 / MWh), effective from September 2021 to April 2022, for captive customers except low-income customers
For low-income customers, ANEEL ratified a level 2 red flag for the months of September and October 2021, yellow for
November 2021, and green from December 2021, due to the improvement in the Brazilian water system.
In conclusion, under this tariff system the generation cost that is currently transferred to the customer only once a year (when
the annual tariff adjustment is performed), will have a variation on a monthly basis and the customer will be able to better
manage its electricity consumption.
Other regulatory aspects
Due to the adverse hydrological conditions that Brazil has been experiencing as a result of the lack of rainfall, several measures
are being adopted, such as:
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MME Resolution No. 22/2021 establishes guidelines for the Voluntary Electric Power Demand Reduction Offer for free consumers,
which is effective until April 30, 2022. Free consumers and Aggregators may offer products with a minimum volume of 5MW per
hour for a reduced consumption of four or seven hours at market prices. Due to the improvement in hydrological conditions, the
offers were suspended in November 2021, but considering the validity of the program, the ONS can request new offers at any time.
CREG Resolution No. 2/2021 establishes the Incentive Program for the Voluntary Reduction of Electricity Consumption: rebates
will be granted on the bill, starting in January 2022. This program consists of bonuses of BRL 50.00 (US$ 9) per 100kWh that will
be granted to customers that reduce their electricity consumption between 10% and 20% during September and December
2021, compared to the same months of 2020.
CNPE Resolution No. 15/2021 allocated BRL 29.8 billion (US $5.5B) to the “CDE” (BRL $5 billion (US $0.9B) in 2022). This allocation
is related to the devaluation of Eletrobrás and aims to mitigate its impact on tariffs in 2022.
CREG Resolution No. 4/2021 has determined a simplified competitive procedure for the auction “Contracting Electricity Capacity
Reserves in the Southeast/Midwest and South subsystems for the period between 2022 to 2025”. The details regarding the
type of technology that will be able to participate in this auction have not yet been defined.
On November 23, 2021, ANEEL approved rules for the evaluation of economic adjustment requests as a result of the impact
caused by the pandemic. Additionally, on December 7, 2021, ANEEL passed an updated regulatory recognition methodology
for non-technical losses and bad debts, to be applied in the rate revisions to be performed in 2023.
Simplification of network connection terms - connection in 45 days for units with contracted power of up to 140 kVA, in
urban areas, and up to 150 meters from the network where there is no need for expansion, reinforcement, or improvement
works to the distribution system.
c) Colombia
Structure and regulatory entities of the Colombian Electricity Market
In 1994, Act 142 or the Public Utility Act (Ley de Servicios Públicos Domiciliarios) and Act 143 or the Electricity Act (Ley Eléctrica)
were issued, which established the general criteria and policies regulating the public utility service provision in Colombia, as
well as the procedures and mechanisms for its regulation, monitor and oversight.
The Electricity Act make the constitutional approach viable, regulates the generation, transmission, distribution and sale of
electricity, creates a market and competitive environment, strengthens the industry and delimit the government intervention.
Considering the characteristics of each activity or business, general guidelines were established for the development of the
regulatory framework, creation and implementation of the rules that would allow free competition in the power generation
and sales industries, while the guidelines for the transmission and distribution industries were aimed to address these activities
as monopolies, looking for competitive conditions if possible.
The main institution in the electricity sector is the Ministry Mining and Energy, which through the Mining Energy Planning Unit
(Unidad de Planeación Minero Energética, or UPME) develops the national Energy Plan and the Generation and Transmission
Expansion Plan. The Energy and Gas Regulatory Commission (Comisión de Regulación de Energía y Gas, or CREG) and the
Public Service Superintendency (Superintendencia de Servicios Públicos, or SSPD) regulate and oversee, respectively, the
companies in the industry. In addition, the Superintendency of Industry and Commerce is the national authority for free trade
protection issues.
The electricity industry operates on the basis of electricity-selling companies and the large consumers are able to buy and sell
energy through bilateral contracts or on a short-term energy exchange market, called the “energy exchange” that operates
freely according to supply and demand conditions. In addition, there are two mechanisms to promote the expansion of the
system: i) auctions of Firm Energy within a “Reliable Charge” scheme and ii) long-term auctions to enhance the Non-conventional
Renewable Energy Sources (FRNCE in its Portuguese acronym).
Electric Power Generation
The generation segment is made up of companies that own electricity generation plants. Electricity generators sell their
energy and power to the wholesale electricity market (MEM), at a price established by the regulator, or to large clients called
free clients through bilateral contracts.
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Renewable Energy
In 2014, Law No. 1,715 was enacted, creating a legal framework for the development of non-conventional renewable energies,
which established guidelines on the declaration of public utility, tax, tariff and accounting incentives. As part of the regulation,
the Ministry of Mining and Energy issued Decree No. 2,469 of 2014, which established the energy policy guidelines for the
delivery of self-generation surpluses to promote the growth of a clean energy matrix, auctions have been carried out with
the participation and additional benefits for FRNCEs. The benefits include rebates of up to 50% of the total investment and
the obligation for marketing agents to acquire a percentage of 10% of this type of electric power.
For its part, the Ministry of Environment and Sustainable Development (MADS in its Portuguese acronym) has been developing
the regulatory framework through Terms of Reference with which the characteristics and obligations that must be met by
those interested in developing FRNCER projects that require an environmental license are established.
Energy transition act
Law No. 2,099, published on July 10, 2021, aims to modernize current legislation and establish other provisions for energy
transition, as well as revitalizing the energy market through the use, development and promotion of non-conventional sources
of energy. It also seeks to reactivate the country’s economy and strengthen the electricity and gas supply market in general.
This law addresses issues related to tax benefits for investment in the field of electricity production with non-conventional
energy sources and efficient energy management. In addition, it will encourage green and blue hydrogen, streamline
procedures to implement infrastructure projects for electric power supply to the public, electric mobility, smart metering
and institutional development.
Law No. 2,099 also states that the Ministry of Environment and Sustainable Development (MADS) will establish the environmental
requirements that must be met by projects developed with geothermal energy, and it prioritizes environmental licensing (and
any modifications) for projects with a startup date that is less than two years ahead, and establishes that connection assets to
the SIN will not require “Alternative Environmental Diagnosis (DAAs) in electric power generation projects that decide to share
these connection assets according to the terms defined by the applicable regulation of the CREG. In this sense, the MADS,
through Resolution No. 1,060 of 2021, establishes the Terms of Reference for the preparation of the Environmental Impact
Study (EIA) for the environmental license process for projects using biomass for power generation.
Finally, this Law gives rise to the Clean Production Seal, which the Ministry of Mines and Energy will grant to all companies
that only use non-conventional sources of renewable energy in their production processes and also invest in improving
energy efficiency.
Electric Power Transmission
Transmission companies that operate transmission lines of at least 220 kV are part of the National Transmission System (SNT).
These companies must give access to their networks on equal terms and are authorized to charge a fee for their services. The
transmission fee includes a connection charge that covers their facilities’ operating costs and a usage fee.
Electric Power Distribution
Electricity distribution companies are natural, regional monopolies. These companies operate according to tariffs regulated by
the CREG, which are based on criteria such as service provision efficiency and quality. Any customer can access the distribution
network by paying the connection fee.
Tariff Revisions
CREG is the entity that defines the method by which distribution networks are paid. Distribution charges are reviewed every
five years and updated monthly according to the Producer Price Index (“PPI”).
In February 2018, the CREG Regulatory Commission published Resolution No. 15, establishing the definitive Distribution
Remuneration Methodology for the new tariff period (2018-2023). Subsequently, on June 24, 2020, the CREG issued Resolution
No. 122/2020, which approved the final distribution tariffs that Codensa is authorized to charge.
In short, the Commission determines the distribution tariffs based on the available distribution assets, operating and maintenance
expenses and the presentation of investment plans. Remuneration also includes loss absorption mechanisms and incentives
for the quality of service. The application of the rate began from the month of July 2020.
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In June 2021, the CREG approved the modification of the Codensa Investment Plan by means of Resolution No. 68 of 2021.
In June 2021, the Ministry of Mining issued Resolution No. 40172, which establishes the maximum rate increase to compensate
coverage expansions projects, which shall not exceed 1% of the distribution charge.
In June 2021, the Commission published CREG Resolution No. 075 of 2021. The resolution establishes provisions and procedures
for the assignment of transport capacity to the national interconnected system (SIN) as requested by the MME under the
public policy guidelines for connection established by MME Resolution No. 40311 of 2021.
In July 2021, Law No. 2099 was passed to establish provisions for the energy transition, the dynamization of the energy
market, reactivation of the national economy, and others. It addresses topics related to tax benefits for investment in the
field of energy production using non-conventional sources and efficient energy management, the promotion of green and
blue hydrogen, rationalization of proceedings in the execution of infrastructure projects for the provision of public electricity
services, e-mobility, and smart and institutional measurement.
At the end of August 2021, the CREG presented two regulatory proposals to agents that look to make modifications to the
Reliability Charge system. On the one hand, Resolution No. 132 of 2021 is under discussion, which proposes the definition of
an option to assign Firm Energy Obligations to existing plants supported by natural gas. On the other hand, the Commission
published Resolution No. 133 of 2021, which proposes a competitive scheme for the assignment of Firm Energy Obligations
to existing plants. These proposals were still under discussion at the close of 2021.
In September 2021, the Ministry of Mining and Energy published the Registry with the roadmap actions for the energy
transformation mission.
In November 2021, the Commission issued CREG Resolution No. 148 of 2021, which established the connection and operation
of solar and wind power plants in the SDL, with net effective capacity or maximum declared power equal or greater than 5 MW.
In November 2021, the Commission issued CREG Resolution No. 174 of 2021, which regulated operational and commercial
aspects to allow for the integration of small-scale self-generation and distributed generation to the National Interconnected
System (SIN). It also regulates aspects of the connection procedure for large-scale self-generators with a maximum declared
power of less than 5 MW and totally repealed CREG Resolution No. 030 of 2018 on this topic.
In December 2021, the Energy and Gas Regulation Commission issued CREG Resolution No. 215 of 2021, modifying the return
rate for electricity distribution activities, and passed by CREG Resolution No. 016 of 2018, which shall be 12.09% starting in 2022.
In December 2021, the Energy Mining Planning Unit (UPME in its Spanish acronym) published Resolution No. 528 of 2021
to establish the procedures for requesting connection to the National Interconnected System (SIN) and provisions on the
assignment of transport capacity to class 1 projects and how to define general parameters for the One-Stop Window.
In December 2021, through Resolution No. 647 of 2021, the National Spectrum Agency (ANE in its Spanish acronym) updated
the National Table of Frequency Band Attribution, adding the frequency band of 169 MHz for the implementation of telemetric
communications, wireless remote control, and the implementation of advanced measurement infrastructure networks.
d) Costa Rica
Structure and regulatory bodies of the Costa Rican Electricity System
The activities of generation, transmission, distribution, and marketing of electricity are classified by Law No. 7,593 as public
services, therefore, the participation of different agents in this sector is highly concentrated in the State. In Costa Rica, there
are eight electricity distribution companies, two of which belong to the State and account for three-quarters of demand,
another two are municipal companies and the remaining four are cooperatives. The participation of private entities (other than
cooperatives) only occurs at the level of electricity generation, which is regulated by Laws No. 7,200 and 7,508.
The Ministry of the Environment and Energy (MINAE in its Spanish acronym) is in charge of preparing and coordinating public
policies and programs related to the environmental and energy sectors, particularly the electricity sector, which is in charge
of the Energy Subsector Planning Secretariat (SEPSE in its Spanish acronym). The SEPSE is the entity in charge of establishing
and promoting national energy planning, through policies and strategic actions that guarantee the timely supply and quality
of energy, thus contributing to the sustainable development of the country. According to Law No. 7,593, the Public Service
Regulatory Authority (ARESEP in its Spanish acronym) is responsible for regulating and overseeing the quality and price of
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public electricity services. Law No. 7,593 grants ARESEP sufficient powers to exercise the regulation of public services provided
in the country, including electricity supply for the generation, transmission, distribution, and marketing phases. The Costa
Rican Electricity Institute (ICE in its Spanish acronym) is a State company that provides electricity generation, transmission, and
distribution services. It is the largest electricity generator in the country and is the sole purchaser of the energy generated by
private generating companies under Laws No. 7,200 and 7,508. According to its foundational Law (No. 449 of April 8, 1949),
the ICE is responsible for satisfying the domestic demand for electricity. For this reason, it has the largest capacity among the
country’s generating plants, mainly of a hydrological nature. In addition, the National Center for Energy Control (CENCE in its
Spanish acronym) is dependent on the ICE to fulfill its responsibility for dispatching all the electricity generated for national
consumption. Lastly, the ICE, the generating companies under Laws Nos. 7,200, 7,508 and 8,345 and any distribution companies
that have their own generation capacity are obligated to provide the System Operator with the required information regarding
their generation plants that have a capacity equal to or greater than 5 MW.
Generating Segment
As mentioned above, the State company “Costa Rican Electricity Institute” (ICE) is the largest generator in the country and the
only purchaser of the energy that is produced. To date, only rural electrification cooperatives and municipal companies can
sell the energy they generate directly to customers in their concession area, as provided in Law No. 8,345.
Law No. 7,200, authorizes the private generation of electricity in Costa Rica by plants with up to 20 MW of installed capacity,
as well as from hydroelectric and unconventional sources. In addition, this law establishes that it is not permitted for private
electricity generation projects to exceed 15% of the total power plants that comprise the National Electric System. As an
additional requirement, at least 35% of the total stock capital of any private company that wishes to generate electricity to
sell to the ICE must be owned by Costa Rican citizens.
However, a second regime of private participation in electricity generation was created by Law No. 7,508, which corresponds to
the second chapter of Law No. 7,200. Through a regime of “Building, Operation and Transfer” (BOT), (granted by means of a public
tender), the ICE can buy up to 15% of the energy in addition to that which is authorized by Law No. 7,200, thereby amounting to 30%
of the national installed capacity. The process for negotiating electric power purchase and sales contracts with private generators is
carried out through the Investment Strategies Process of the National Center for Electricity Planning (CENPE in its Spanish acronym),
which is dependent on the ICE. As ICE is the price setter and the only purchaser of electricity, there is no spot market or free clients.
ICE’s tariffs and its Generation System are governed by Law No. 7,593, which establishes that the tariffs (established by the
ARESEP) will be based on the principle of “service at cost”, which consists of calculating an average accounting cost, to which
a "development revenue” profit is added. The ICE is required to submit at least one tariff study per year, including a detailed
justification for each of the items mentioned above.
Incentives for the generation of electricity with non-conventional, renewable sources
Costa Rican legislation only authorizes the private generation of electricity based on renewable energy sources, such as
hydroelectric, wind, solar and biomass. The ICE is the largest generator in the country and has a very defined policy regarding
the country’s electricity planning, which must seek the maximum use of renewable resources, especially hydroelectric, as
stated in article No. 1 of its creation Law.
Transmission Segment
The electricity transmission system is a natural monopoly. The administration of this system is carried out by ICE, in accordance
with the expansion programs of electricity generation and distribution companies. Electricity transmission is the responsibility
of the Electricity Business and Production Strategic Unit (UENPE in its Spanish acronym), which is dependent on the ICE. The
electricity transmission network operates at two main voltage levels. The most important is the 230 kV, due to its location,
which allows the transportation of large amounts of energy from the north of the country and from the Atlantic. The other
transmission level (138 kV), is located in the central zone of the country, in the shape of a ring.
Distribution Segment
The role of the distribution companies is to operate as the sole seller of energy in their assigned service area as intermediaries.
The purchase cost of the energy that the distributors acquire from the Generation System is transferred to the tariffs charged
by the Distribution System. Since 2013, a methodology has been applied to recognize the impact of fuels on tariffs on a quarterly
basis. The generation rate is adjusted beforehand to avoid duplicating this impact. This transfer to tariffs does not trigger any
economic losses or financial risks on distribution companies, as the cost of generating electricity is already included in the
distribution tariffs, under the regulatory principle of "Service at Cost".
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e) Guatemala
Structure and regulatory bodies of the Guatemalan Electricity System
The Guatemalan electricity market is operated by public and private institutions. At the public level, the Ministry of Energy and
Mines (MEM) dictates the National Energy Policy, the Generation and Transmission Expansion Plans and applies the General
Electricity Law (LGE in its Spanish acronym). This sector’s regulatory body is the National Electric Energy Commission (CNEE in
its Spanish acronym), which enforces the law and imposes sanctions, ensures compliance by awardees and concessionaires,
protects users, establishes regulated tariffs, settles disputes and issues technical standards, among other responsibilities.
The system operator and market administrator act as a private non-profit company called the Wholesale Market Administrator
(AMM in its Spanish acronym), by means of their Rules and Regulations. The AMM consists of electricity generators, transmitters,
distributors, traders, importers, exporters and large users.
The LGE states that the Guatemalan electricity market comprises a regulated market (distributors and users that do not meet
the minimum electric power demands established by the MEM) and the wholesale market (MM). Transmission and distribution
tariffs are subject to regulation by the CNEE.
In 1996, the energy industries were divided. The General Electricity Law established a separation of activities in the electricity sector
and determined that generation, transmission, and distribution should be carried out by different companies. Transmission and
distribution are regulated activities, in which both private and public companies may participate. To that end, concessions are granted
by public tender. On the other hand, generation and commercialization of electric power has been opened up to free competition.
The electric power system consists of the National Electric System (SEN), which comprises the National Interconnected System
(SNI) and some isolated systems. The operation of the SNI and all its assets is one of the responsibilities of the Wholesale
Market Administrator (AMM), which is governed by the Commercial Coordination Standards and the Operating Coordination
Standards. These standards include a set of provisions and procedures aimed at guaranteeing the operational coordination
of the National Interconnected System (SNI), to ensure the best supply at a minimal cost, seeking to maintain the continuity
and quality of the service. These standards must be approved by the National Electric Power Commission (CNEE).
Generating Segment
Generators can make direct sales to traders or Large Users. Large Users are customers whose demands exceed 100 kW, who
can become free customers by voluntarily agreeing on tariffs with the Company. Another source of revenue from the sale
of electricity is the wholesale market, which is governed by the rules issued by the Wholesale Market Administrator (AMM).
Two products are traded in the Wholesale Market: Power (monthly billing) and Energy (hourly billing). This is a cost market,
therefore, the assessment of the products that are traded is made according to the Variable Cost of Generation (CVG) model
declared by the generating companies that are connected to the SNI. The Wholesale Market has the following operating rules:
Firm Demand and Efficient Firm Offer: In the Wholesale Market, consumers must contract their demand for electric power for a
one-year term. The AMM calculates the Firm Demand (FD) on an annual basis, which must be met with an Efficient Firm Offer (EFO).
The EFO is assigned to generating companies who participate in the Wholesale Market as sellers who satisfy the consumers’ FD.
The EFO is determined by the AMM. It is calculated over a period of two years and is based on the actual power contributed to
the SNI by each generating plant, as well as the plant’s availability when the request was made during the previous Seasonal Year.
Economic Generation Dispatch: Power generation plants must submit information regularly regarding their CVG. This is used
to create a list of merit to cover the SNI’s demand, together with reserves and international commitments (firm contracts).
This market is optimized through an “economic dispatch”, which consists of using the available supply of energy and power
to supply the anticipated demand for energy and power in a given period, thereby minimizing total operational costs. The
generation dispatch is optimized once every hour. The Energy Opportunity Price (EOP) or spot price is determined by the last
power generation plant’s CVG that was required to meet the SNI’s demand and reserves.
Transmission services: These services include the transmission tariff (set by the CNE), which is established in accordance with
the Commercial Coordination Rules.
Complementary services: The main complementary services include operating reserves for frequency regulation (primary,
secondary, and tertiary), reactive power and voltage control, as well as the Black Start capability.
Forced Generation: This corresponds to any power generation that has been programmed to meet security requirements,
service quality, exports, etc. that are outside the “economic dispatch”.
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Other charges: These include authorization charges to carry out transactions in the Wholesale Market (AMM fee) and
authorization charges for transactions in the REM, mainly corresponding to regional institutions such as EOR and CRIE.
Transmission Segment
The electricity transmission system comprises the main system and the secondary system. The main system includes the
national interconnected trunk system, the Guatemala-El Salvador interconnection, the Guatemala-Mexico interconnection,
and the interconnection with Central America (SIEPAC). The secondary system consists of the electrical infrastructure used by
the generators to supply the main system and the infrastructure that goes from the main system to the distribution centers.
Transmission lines essentially operate at four voltage levels: 400 kV, 230 kV, 138 kV and 69 kV.
Distribution Segment
The distribution system consists of distribution infrastructure (distribution lines, substations and networks) that operates at
voltages of less than 34.5 kV. The main components of the distribution system are coordinated by the AMM and operated by
the distribution companies. The Distribution Added Value (DAV) is the remuneration received by these companies. The DAV
corresponds to the average cost of capital and operation of a reference efficient distribution network. The CNEE approves
a Tariff Study on the Distribution Added Value (TSDAV) and the corresponding Tariff Sheets of the Non-Social Tariff and the
Social Tariff, that will be charged to the end users.
f) Panama
Structure and regulatory bodies in the Panamanian Electricity System
Law No. 6, dated February 1997, and its amendments, establishes the regulatory and institutional framework for the provision
of the public electricity service. This Law states that the activities of Transmission, Distribution, Marketing and Generation
of electric power will be regulated. The National Authority of Public Services (ASEP in its Spanish acronym) is the entity in
charge of regulating, supervising and ensuring the adequate provision of these public services, thereby guaranteeing that
regulated companies and clients and/or end users comply with current legal regulations, as well as exercising their rights
and fulfilling their obligations.
In Panama, the transmission of high voltage electricity is carried out by Empresa de Distribución Eléctrica, S.A. (ETESA), from
the delivery point by the generators to the reception point by the distribution companies or Large Customers, as appropriate.
ETESA coordinates operations and transactions that take place between participants of the Wholesale Electricity Market through
the National Dispatch Center (CND in its Spanish acronym), which acts as an Operator of the National Interconnected System
(SIN) and Administrator of the Wholesale Electricity Market. In addition, ETESA manages the power and energy purchases for
the distribution companies’ end customers. In turn, distribution companies must be fully contracted two years in advance.
Minimum contracting percentages are established gradually.
In order for the Panamanian electricity market to function correctly, there are Commercial and Operational Rules that all
market participants must comply with.
Generating Segment
Producing participants include generators, self-generators and co-generators that are operating in the Republic of Panama.
There are several options in order to participate in the Panamanian electricity market:
• Short-term or spot market
The “Occasional Market” is the place where short-term, hourly energy transactions are carried out. These transactions
allow the trading of surpluses and shortages arising from differences between contractual commitments and actual
consumption and generation. The Spot Price or Marginal Cost of the System (MCS) corresponds to the variable cost
of the last energy unit to be dispatched in order to meet the system’s demand without transmission restrictions. The
Marginal Cost of the System (MCS) includes:
a) The Variable Cost of operations for heat generation, as defined in the Operating Regulations and declared by each generating
agent. Thermal variable costs depend on the prices of fuel, transportation, operations, and maintenance. This Variable Cost
is audited by the CND.
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b) The value of water for hydroelectric dams, calculated by the CND in accordance with the Commercial Rules and the
technical and operational rules of the Operating Regulations, as well as detailed methodologies. The value of water depends
on a stochastic analysis carried out by each operator. To this end, all the variables of the system are taken into account, such
as flow projection, plant maintenance and transmission networks, etc.
c) The price offered for imports in interconnection. In the case of contracts, this will be declared by the National Participant to
the CND. In the case of used imports, this will be reported by the Regional Operator Entity (ROE).
d) The price offered by auto-generators and co-generators that sell electric power surpluses.
• Contract Market
Power and/or energy contracts are regulated by the ASEP through the Purchase Rules approved by AN Resolution No. 991-
Elec, dated July 11, 2007, and its amendments. Only power, energy, or power and energy commitments may be agreed upon
through supply contracts.
• Generation market for free customers
In Panama, a “Significant Customer” is a private individual or legal entity whose demand exceeds 100 kW per site. Power and
energy acquisitions by significant customers can be made in the wholesale electricity market (in the case of a significant
qualified customer) or from distributors. As of July 2014, significant, qualified customers have the option of freely negotiating
the supply of energy with a Generating Agent or buying energy in the Occasional Market, while power must be acquired from
a distribution company at the approved tariff.
Incentives for the generation of electricity with non-conventional, renewable source
Legal incentives have been established to encourage small electricity power plants that use unconventional, renewable and/or
clean sources. These incentives include the exemption from distribution and transmission charges in the case of small hydroelectric
plants, geo-thermoelectric plants and plants using other non-conventional, renewable energy sources with a capacity of less
than 10 MW, selling energy directly or in the occasional market. In addition, plants that have a capacity of between 10 and 20
MW only pay half of the distribution and transmission charges and benefit from additional tax incentives such as the exemption
or reduction of import tariffs and the Tax on the Transfer of Movable Property and Provision of Services, and the Income Tax.
Transmission Segment
The electricity transmission system mainly comprises 230kW and 115 kW transmission lines. According to Law No. 6 dated
February 3, 1997, the provision of the high-voltage electric power transmission service in a non-discriminatory, continuous,
regular, and efficient manner is the responsibility of ETESA. This company is governed by rules that are applicable to public
limited companies under private law, but its stock capital is 100% owned by the State of Panama.
Distribution Segment
The electricity distribution service includes transporting electricity through the distribution networks, as well as delivering
and marketing energy to end customers. Distribution is a monopolistic activity and therefore, it is regulated. Electricity sales
to end customers are remunerated with regulated tariffs.
The added value of distribution consists of the following costs: distribution system administration, operation and maintenance,
a reasonable rate of return on investments, and a compensation for distribution assets and their depreciation.
g) Peru
Structure and regulatory bodies in the Peruvian Electricity System
The main laws that regulate the Peruvian electricity market are the Electricity Concession Law (Law No. 25,844), its regulations
and the Law ensuring the Efficient Development of Electricity Generation (Law No. 28,832).
Law No. 25,844, the Electricity Concession Law, indicates that the Peruvian electricity sector is divided into three large segments:
generation, transmission and distribution, such that no more than one activity can be developed by the same company. The Peruvian
electricity system is known as the National Interconnected Electricity System (SEIN), in addition to some isolated electricity systems.
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Electricity Generation
The generation companies’ operations is subject to the provisions and policies of the Economic Operations Committee for the
National Interconnected System (COES SINAC) for the purpose of coordinating their operations at minimum cost, guaranteeing
the secure, reliability and continuity supply of electricity and best use of energy resources.
The sale of energy by generators to distributors for the purpose of the public supply of electricity, shall be performed through
bids or bilateral contracts (with a regulated maximum price set by the Peruvian electricity regulator, the OSINERGMIN - bar
rate). The bid mechanism has the purpose of establishing a system that promotes investments in new generation capacity
through long-term electricity supply contracts and firm rates with distribution companies. On the other hand, generators can
contract directly with free customers, with whom they agree on energy sales prices.
Renewable Energy
Legislative Decree No. 1,002 created a promotional regime for non-conventional renewable energy sources (“RER”) through
auctions to develop specific technologies that seek to cover up to 5% of the national energy demand with a guaranteed
income mechanism paid by customers through a tariff charged in the connection fee.
Transmission Segment
Electricity transmission consists of transmission lines, substations, and equipment for the transportation of electricity from the
generating plants to the consumption or distribution centers. In Peru, electricity transmission includes all lines and substations
with a capacity that is greater than 60 kV.
The transmission activity is carried out in the Main Transmission System and the Secondary Transmission System regulated by
the provisions of the Electricity Concession Law. It also includes the Guaranteed Transmission System and the Complementary
Transmission System, as established in the Law Ensuring the Efficient Development of Electricity Generation. The Peruvian
transmission system is overseen by the regulator "OSINERGMIN".
Distribution Segment
The electricity distribution activity is subject to a regulated tariff and a concession to operate within a geographic zone.
In Peru, the process for the determination of the distribution rate is carried out every 4 years, and is called "Value Added
Distribution Fixation" (“VAD”). Exceptionally, the last process lasted 5 years, since one year was required to implement the last
reforms approved by Legislative Decree No. 1,221.
It should be noted that the Peruvian regulation follows the regulatory scheme of an efficient model company, so that in each
tariff period the efficient investment costs are established, as well as the standard operation and maintenance costs that will
be recognized to each distribution company under the parameters and criteria defined by the OSINERGMIN (regulatory body).
An "efficient business" model has been created to establish the distribution tariff. Based on this model, individual tariffs are
determined for each distribution company that has more than 50,000 customers.
The current tariff chart corresponds to the 2018-2022 period.
h) Regional Electricity Market (REM) for Central American Companies
The Central American Electricity Market includes two essential elements:
The creation and implementation of the Regional Electricity Market (the REM), which is a supranational wholesale market that
serves as the basis for investment in the integrated electricity transmission system; and
The development and construction of the first regional transmission system. This system delivers the physical assets for the
operation of the REM.
The regulation of the REM is contained in a series of legal and administrative instruments, including the Central American
Electricity Market Framework Treaty and its Protocols; the Regulation of the Regional Electricity Market (“RREM”) and the
Normative Resolutions of the Regional Electric Interconnection Commission (“REIC”). These instruments define the operating
principles for the REM and establish: (i) the creation of the “REIC”, as the entity that is responsible for regulating commercial
relations between public and private agents that are connected to the regional electricity system, and setting the remuneration
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and pricing mechanisms of the exchange and transportation of energy, among other functions; (ii) the creation of the Regional
Operator Entity (“ROE”) which is in charge of coordinating the technical and commercial operation of energy exchanges
between the agents of the Central American countries in its capacity as operator and administrator of the system and the
regional electricity market; and (iii) the creation of the Regional Electricity Market Directive Council (“REMDC”), which is a
political entity that is responsible for promoting the development of the REM and facilitating compliance with the objectives
of the Central American Electricity Market Framework Treaty and its Protocols, as well as coordinating relations with the other
regional stakeholders.
These regulations have defined the REM as a regional wholesale electricity market whose organization and operation are
based on the following principles:
− Its commercial electricity transactions may arise from: i) occasional transactions resulting from a specific offer, and ii)
contracts between market agents.
− With the exception of transmitters, Market agents can buy and sell electricity freely, thereby guaranteeing the free transit
of electricity through the networks of the REM member countries.
− Market agents can install generation plants in any of the REM member countries for trade and access to regional
transmission networks (except for Costa Rica, which only recognizes the Costa Rican Electricity Institute as agent).
− Although the REM is a market with its own rules (independent from those of the national markets in the member countries),
its operations are carried out through the infrastructure of the Regional Transmission Network (“RTN”), which includes
the national networks.
− REM electricity transactions are carried out in two types of market:
Regional Contracts Market: This market comprises all the contracts for the injection and withdrawal of electricity in the REM
that agents have entered into. Depending on their supply priority, these contracts can be Firm Contracts or Non-Firm Physical-
Flexible Contracts (“NFPFC”). Firm Contracts entail being a holder of Firm Transmission Rights (“FTR”). These FTR assign their
holder the right (but not the obligation) to inject power into a node and to withdraw it in another node of the RTN during a
valid period. These rights will essentially depend on the operational capacity of the regional transmission network, for which
monthly and annual auctions are held where Agents registered in the Regional Electricity Market can bid to acquire them.
The Minimum Prices for the acquisition of FTR are set by the ROE, according to the current methodology. In cases where two
or more FTR offers have the same RTN injection and withdrawal nodes, the rights will be assigned according to the established
optimization model.
When FTR are not available, electricity transactions can still be made through Non-Firm Physical-Flexible Contracts (“NFPFC”),
which are subject to Variable Transmission Costs resulting from network congestion.
The Regional Contract Market provides agents with instruments that allow them to manage energy supply and price risks
in the REM and enables long-term investments in regional infrastructure. In addition, agents are free to set prices and
other contractual conditions.
Regional Opportunity Market: This is a short-term market based on daily offers of electricity injection and withdrawal in the
enabled nodes of the RTN during a “Market Period” (which lasts one hour). The Regional Opportunity Market includes specific
transactions that are scheduled one day in advance, as well as transactions that occur as a result of real-time deviations of
scheduled electricity injections and withdrawals in each Market Period.
Electrical Interconnection System for Central American Countries (“EISCAC”): The Electrical Interconnection System for Central
American countries consists of 230 kW infrastructure through 1,800-kilometer transmission lines that cross Guatemala, El
Salvador, Honduras, Nicaragua, Costa Rica and Panama, with a total transmission capacity of 300 MW. The EISCAC has been
developed by the Network Owner Company ("NOC"), a company whose main shareholders are the state electricity companies
of each of the MEM countries and some minority private interests.
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ii. Limits on integration and concentration
In general, every country has legislation for the defense of free competition, which, together with the specific regulations on
the electricity market, define criteria to avoid excessive levels of economic concentration and/or abusive market practices.
However, this is not the case in Costa Rica, where electricity generation, transmission and distribution are concentrated in
State-owned companies, with a very limited space for private companies in the generation sector. This is subject to restrictions
such as the fact that they cannot exceed 15% of the total generation capacity and 35% of the property of these private
companies must remain in Costa Rican hands.
In principle, the regulators allow the participation of companies in different activities (e.g. generation, distribution, and
commercialization) as long as there is an adequate separation of each activity, for both accounting and company purposes.
Nevertheless, most of the restrictions imposed involve the transmission sector mainly due to its nature and to the need to
guarantee adequate access to all agents. In Argentina and Colombia, there are specific restrictions if generation or distribution
companies want to become majority shareholders in transmission companies. In the case of centre america, to the strong
estate concentration of Costa Rica is added the also concentrated transmission activity in Panama.
Regarding concentration in a specific sector, in Argentina, there are no specific limits that affect the vertical or horizontal
integration of a company. In Peru, integration is subject to the authorization of the Instituto Nacional de Defensa de la
Competencia y Protección de la Propiedad Intelectual (“INDECOPI”), an antitrust authority that is able to establish commercial
conduct. In Colombia, no company may have a direct or indirect market share of over 25% in electricity sale activities. In May
2019, Law No.1,955 of the National Development indicates that in order to ensure the sustainability of the provision of the
service on the Caribbean Coast, the limits on the participation in the commercialization activity may be higher, than the current
regulatory limit by possibly as much as 10 additional percentage points.
One of these relates to participation limits depending on market concentration (HHI) and the size of the players according
to their Firm Energy, and the other relates to pivotally conditions in the market depending on the availability of resources to
meet system demand. In addition, Colombian companies created after the Public Service Law was enacted in 1994 can only
engage in activities that complement generation/sales and distribution/sales. Finally, in Brazil, with the changes taking place
in the power industry under Law No. 10,848/2004 and Decree No. 5,163/2004, the ANEEL gradually perfected regulations,
eliminating concentration limits as no longer compatible with the prevailing regulatory environment. However, regulatory
approval is required for consolidations or mergers to take place between players operating within the same business segment.
iii. Unregulated customers market
In all of the countries where the Group operates, distributing companies can supply their customers under regulated or freely-
agreed conditions. The supply limitations imposed on the unregulated market are as follows:
Country
Argentina
Brazil
Colombia
Costa Rica
Guatemala
Panama
Peru
kW threshold
>30 kW
>2,000 kW or >500 kW (1)
>100 kW or 55 MWh/month
Not applicable (2)
>100 kW
>100 kW
>200 kW (3)
(1) The > 500 kW limit is applied if energy from renewable sources is purchased, which is encouraged by the government through a toll discount.
(2) In Costa Rica there is only one electricity purchaser, which is the ICE, therefore, there is no concept of a free customer.
(3) D.S. 018-2016-EM established that:
•The demand of customers that can opt between the regulated and free market (those with demand from 200 to 2,500 kW)
is measured at each point of supply.
•Customers whose demand at each point of supply is greater than 2,500 kW are necessarily free customers.
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NOTA 5. Business combination under common control
Reorganization and corporate integration of non-conventional, renewable energy generating companies in Central and South
America (except for Chile)
On September 21, 2020, the Board of Directors of Enel Américas unanimously decided to initiate the merger process for the
incorporation of EGP Américas SpA (“EGP Américas”) into Enel Américas (the “Merger”). By virtue of this Merger, Enel Américas
would acquire all of EGP Américas’ assets and liabilities and succeed to all of EGP Américas’ rights and obligations, allowing the
Company to control and consolidate the ownership of the business and the non-conventional renewable energy generation
assets developed and held by Enel Green Power S.p.A. in Central and South America (except for Chile).
This Merger became effective on April 1, 2021 and is in line with the Group’s strategy and development plans, considering the high
priority of the development of renewable energies in the region. The Merger also enables accelerating the positioning of Enel
Américas in the energy transition scenario, making it the leading company in Central and South America in power generation and
distribution. As a result, Enel Américas has strengthened its renewable energy generation and has also diversified it geographically
through the incorporation of assets in Costa Rica, Guatemala and Panama, as well as including new assets in other South American
countries where it was already operating. Consequently, Enel Américas has increased its capacity in the region by 5 GW (including
operating capacity and under-construction). A pipeline will also be assessed during the course of operating activities.
i) Capital increase
At the extraordinary shareholders’ meeting held on December 18, 2020, the shareholders approved the following:
In order to complete the Merger, the Board approved a capital increase at Enel Américas of US$6,036,419,845, through the
issuance of 31,195,387,525 new common shares of a single series as existing shares and with no par value. These will be fully
subscribed and paid for in exchange for the incorporation of the EGP Américas equity, as the absorbed company, upon the
Merger’s effectiveness. For this purpose, 0.41 Enel Américas shares will be delivered for each share of EGP Américas held by
EGP Américas’ single shareholder, not considering fractions of shares (see Note 26.1).
The Merger was subject to compliance with certain suspensive and connected conditions precedent agreed at the Shareholders’
Meeting, which also established that it would become effective on the first day of the month following the date on which the Merger
was declared, by means of a single public deed, to be granted by Enel Americas and EGP Américas, unless such deed was granted after
March 31, 2021, in which case, the effective date of the Merger would be the day after the date of execution of the deed of merger.
On March 5, 2021, compliance with all conditions precedent has been verified and Enel Américas and EGP Americas confirmed
the deed of merger. As a result, the merger by absorption of EGP Americas into Enel Américas was completed on April 1, 2021
and the following companies were incorporated as new subsidiaries of Enel Américas:
• Enel Green Power Brazil Participacoes Ltda.
• Enel Green Power Costa Rica S.A.
• Enel Green Power Colombia S.A.S ESP.
• Enel Green Power Guatemala S.A.
• Enel Green Power Panama S.R.L.
• Enel Green Power Peru S.A.C.
• Enel Green Power Argentina S.A.
• Energía y Servicios South América SpA.
• ESSA2 SpA.
On the same date, all the amendments to Enel Américas’ bylaws approved by the aforementioned Shareholders’ Meeting
became effective. These amendments include the capital increase, the elimination of the limitations and restrictions established
in the bylaws by application of Title XII of Decree Law No. 3,500 of 1980 (except solely for the Investment and Financing Policy,
which remains in force). These also included the amendment that establishes that a shareholder and their related persons
cannot concentrate more than 65% of Enel Américas’ voting shares.
After the merger of Enel Américas S.A. and EGP Americas was completed, Enel SpA became the owner of 75.18% of Enel
Américas’ share capital.
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The accounting record of this Merger was recognized in accordance with the accounting criteria established in Note 2.7.5. This
gave rise to a credit in “Other miscellaneous reserves”, in Enel Américas’ consolidated equity, of ThUS$1,259,422 (see Note 26.5.c).
From the date of the Merger, the companies that were part of the EGP Americas have contributed revenues of ThUS$832,030
and after-tax profits of ThUS$109,226 to Enel Américas’ consolidated results for the nine-month period ended on December
31, 2021. Management has estimated that had the Merger been performed on January 1, 2021, Enel Américas’ consolidated
revenues would have increased by ThUS$1,013,717, and consolidated after-tax profits would have decreased by ThUS$96,153.
ii) The right to withdraw
In accordance with the provisions of Article 69 of Chilean Law No. 18,046 on Public Companies, shareholders who disagreed with
the Merger had the right to withdraw from Enel Américas, receiving payment for the value of their shares. On January 17, 2021, the
legal period available to dissenting shareholders expired and they exercised their right to withdraw a total of 1,809,031 shares issued
by the Company, equivalent to 0.002% of the total share capital. In accordance with current legislation and the terms and conditions
approved by the Shareholders’ Meeting, the price of these shares was paid by Enel Américas for ThUS$272 on March 8, 2021, including
adjustments and interest. Consequently, one of the conditions precedent to which the effectiveness of the Merger was submitted
was met, i.e., that the right to withdraw duly exercised by dissenting shareholders should not exceed 10% of the voting shares.
iii) Public Offer for Share Acquisition
In connection with the Merger, Enel SpA formally announced the start of the voluntary public tender offer for the acquisition of up to
7,608,631,104 shares issued by Enel Américas S.A. on March 15, 2021, (including shares represented by American Depositary Shares
"ADS") equivalent to 10% of the Company’s share capital as of such date (the "Offer"). This Offer began on March 15 and ended on April
13, 2021 and resulted in Enel SpA’s acquisition of 6,903,312,254 shares (including 705,246,850 shares represented by 14,104,937 ADS).
Following the purchase of the shares and ADS through the Offer, Enel SpA increased its interest in Enel Américas’ stock capital
from 75.18% to approximately 82.3%.
iv) Assets acquired and liabilities assumed at the acquisition date
ASSETS
CURRENT ASSETS
Cash and cash equivalents
Other current financial assets
Other current non-financial assets
Trade and other receivables, current
Current accounts receivable from
related parties
Inventories
Current tax assets
Total current assets other than assets or
groups of assets for disposal classified
as held for sale
TOTAL CURRENT ASSETS
NON-CURRENT ASSETS
Other non-current financial assets
Other non-current non-financial assets
Trade and other non-current receivables
Intangible assets other than goodwill
Goodwill
Property, plant and equipment
Right-of-use assets
Deferred tax assets
TOTAL NON-CURRENT ASSETS
04-01-2021
ThUS$
LIABILITIES AND EQUITY
1,022,668
30,763
214,326
132,704
203,814
12,846
16,804
1,697
1,635,622
164,550
47,805
23,081
333,605
587,357
3,952,409
31,039
67,780
5,207,626
CURRENT LIABILITIES
Other current financial liabilities
Current lease liabilities
Trade and other payables, current
Current accounts payable to related
parties
Other current provisions
Current tax liabilities
Other current non-financial liabilities
TOTAL CURRENT LIABILITIES
NON-CURRENT LIABILITIES
Other non-current financial liabilities
Non-current lease liabilities
Trade payables, non-current
Non-current accounts payable to related
parties
Other long term provisions
Deferred tax liabilities
Non-current provisions for employee
benefits
Other non-current non-financial
liabilities
TOTAL NON-CURRENT LIABILITIES
TOTAL LIABILITIES
TOTAL ASSETS
6,843,248
TOTAL NET ASSETS ACQUIRED
416
Integrated Annual Report Enel Américas 2021
04-01-2021
ThUS$
82,246
3,330
229,345
309,110
1,160
13,967
23,802
662,960
843,254
27,762
21,315
134,333
28,990
91,753
1,237
8,590
]
1,157,234
1,820,194
5,023,054
NOTE 6. Cash and cash equivalents
a) The details of cash and cash equivalents as of December 31, 2021 and 2020 are as follows:
Cash and Cash Equivalents
Cash balances
Bank balances
Time deposits
Other fixed-income instruments
Total
Balance as of
12-31-2021
ThUS$
290
518,572
841,039
36,352
12-31-2020
ThUS$
308
641,870
749,671
115,144
1,396,253
1,506,993
Time deposits have a maturity of three months or less from their date of acquisition and accrue the market interest for this
type of short-term investment. Other fixed-income investments are mainly comprised of resale agreements maturing in 90
days or less from the date of investment. There are no restrictions for significant amounts of cash availability.
b) The detail of cash and cash equivalents by currency is as follows:
Currency
Chilean peso
Argentine peso
Colombian peso
Brazilian real
Peruvian sol
U.S. dollar
Euros
Total
Balance as of
12-31-2021
ThUS$
12-31-2020
ThUS$
1,589
8,025
150,799
757,658
129,607
348,413
162
638
65,480
381,754
741,281
147,458
170,335
47
1,396,253
1,506,993
For more details on the Statement of Cash Flows, see below.
c) The following table records the components of “Other payments for operating activities” line item in the Statement of
Cash Flows:
Other Payments from Operating Activities
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2019
ThUS$
Payment for other taxes (VAT, ICMS, PIS/COFINS, Sales taxes, Custom taxes, taxes on bank
transfers) (1)
Payments for collections made under Codensa Hogar contract (2)
Payments for the Energy Development Account (CDE) (3)
Other miscellaneous itemized payments for operating activities (4)
(2,704,477)
(2,587,437)
(3,613,564)
(480,921)
(839,175)
(455,381)
(349,481)
(736,116)
(340,754)
(578,708)
(1,148,756)
(382,405)
Total other payments from operating activities
(4,479,954)
(4,013,788)
(5,723,433)
(1) The main components of payments for other taxes are the following:
•
ICMS: This is a state value added tax (VAT) in Brazil, applied on the sale of telecommunications and transportation goods and services. The ICMS
payments were ThUS$ 2,254,373, ThUS$ 2,025,223 and ThUS$ 2,672,785 for the years ended December 31, 2021, 2020 and 2019, respectively.
• PIS/COFINS taxes. In Brazil, the “Programa de Integração Social” (PIS) is a social contribution tax, payable by corporations, targeted to finance the
payment of unemployment insurance and allowance for low paid employees, while the “Contribuição para o Financiamento da Seguridade Social”
(COFINS) is a federal contribution tax, based on gross revenues of business sales. The total amounts paid for PIS/COFINS were ThUS$ 327,634, ThUS$
442,734 and ThUS$ 827,589 for the years ended December 31, 2021, 2020 and 2019, respectively.
• Payment for taxes on sales in Peru for ThUS$ 83,107, ThUS$ 86,768 and ThUS$ 85,089 for the years ended December 31, 2021, 2020 and 2019,
respectively.
(2) Our Colombian subsidiary Codensa entered into an arrangement with a third party that develops a business with Codensa’s customers. By virtue
of this arrangement, Codensa manages the collection of that third party’s receivables, since they are billed as part of the Codensa’s invoices issued
monthly. The payments are related to the monthly collected amounts under the collection management contract, whereas the collections are
presented in the line item “Other collections from operating activities”.
Consolidated Financial Statements 417
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(3) In Brazil, Law No. 10,438/2002 created the “Conta de Desenvolvimento Energético” (“CDE”). The CDE is a government fund that aims to promote
the development of alternative energy sources, promote globalization of energy services and subsidizes low-income residential customers. The
fund is financed through charges included in consumers and generators tariffs and government contributions.
(4) Other miscellaneous payments for operating activities includes several types of individually non-significant payments related to operating
activities
d) Other cash inflows (outflows) from (used in) investment activities are detailed as follows:
Other payments from financing activities
Cash and Cash equivalents merger with EGP Americas (1)
Other payments from financing activities
Total other payments from financing activities
12-31-2021
ThUS$
1,022,668
(13,043)
1,009,625
12-31-2020
ThUS$
-
(4,369)
(4,369)
12-31-2019
ThUS$
-
(7,263)
(7,263)
(1) Beginning balance of cash and cash equivalents resulting from the merger by absorption of EGP Américas into Enel Américas (see Note 5).
e) Reconciliation of liabilities arising from financing activities as of December 31, 2021, 2020 and 2019:
Cash flows from financing
Movements that do not represent cash flows
1-1-2021
ThUS$
From
ThUS$
Used
ThUS$
Paid
interest
ThUS$
Acquisition
of
subsidiaries
ThUS$
Movements
in fair
value
ThUS$
Total
ThUS$
Exchange
differences
ThUS$
Financial
costs (1)
ThUS$
New financial
leases
ThUS$
Other
movements
ThUS$
12.31.2021
ThUS$
1,975,028
1,306,898
(3,301,621)
(334,975)
(2,329,698)
219,817
7,455
(122,726)
457,536
4,018,731
2,695,229
(12,711)
-
2,682,518
972,354
14,233
(334,779)
16,249
-
-
1,357,742
1,565,154
(1,359,537)
6,009,769
Liabilities from
financing
activities
Short-term
loans
Long-term
loans
Lease liabilities
142,560
-
(65,009)
(4,003)
(69,012)
31,092
-
(12,934)
(114,309)
114,230
-
-
114,230
(134,315)
(12,366)
(63,350)
Assets held to
cover liabilities
arising from
financing
activities
2,918
24,942
135,283
18,671
248,578
-
(15,331)
(200,499)
Total
6,022,010
4,116,357
(3,379,341)
(338,978)
398,038
1,088,948
9,322
(533,789)
501,645
135,283
1,545
7,623,002
Cash flows from financing
Movements that do not represent cash flows
1-1-2020
ThUS$
From
ThUS$
Used
ThUS$
Paid
interest
ThUS$
Total
ThUS$
Acquisition
of
subsidiaries
ThUS$
Movements
in fair
value
ThUS$
Exchange
differences
ThUS$
Financial
costs (1)
ThUS$
New financial
leases
ThUS$
Other
movements
ThUS$
12.31.2020
ThUS$
1,422,681
1,359,012
(1,689,240)
(320,948)
(651,176)
4,818,468
582,583
(91,207)
-
491,376
190,269
-
(77,292)
(5,755)
(83,047)
(67,937)
114,004
-
-
114,004
-
-
-
-
9
-
3,990
(80,673)
323,080
(516,196)
9,757
-
-
957,126
1,975,028
(784,683)
4,018,731
(15,290)
9,286
45,639
(4,297)
142,560
9,691
(152,874)
(15,286)
-
(1,907)
(114,309)
Liabilities
from
financing
activities
Short-term
loans
Long-term
loans
Lease
liabilities
Assets held
to cover
liabilities
arising from
financing
activities
Total
6,363,481
2,055,599
(1,857,739)
(326,703)
(128,843)
-
13,690
(765,033)
326,837
45,639
166,239
6,022,010
Cash flows from financing
Movements that do not represent cash flows
01.01.2019
ThUS$
From
ThUS$
Used
ThUS$
Paid
interest
ThUS$
Acquisition
of
subsidiaries
ThUS$
Movements
in fair
value
ThUS$
Total
ThUS$
Exchange
differences
ThUS$
Financial
costs (1)
ThUS$
4,264,806
3,401,133
(7,150,100)
(605,522)
(4,354,489)
-
4,812
8,608
571,136
4,535,549
1,525,820
(297,385)
-
1,228,435
121,973
(113,974)
-
(59,177)
(9,077)
(68,254)
95,512
-
-
95,512
(50,138)
-
-
-
10,866
11,666
114,963
(10,363)
(32,030)
-
-
New
financial
leases
ThUS$
-
-
Other
movements
ThUS$
12.31.2019
ThUS$
927,808
1,422,681
(895,378)
4,818,468
(945)
(7,082)
190,269
(67,937)
Liabilities from
financing
activities
Short-term
loans
Long-term
loans
Lease liabilities
Assets held to
cover liabilities
arising from
financing
activities
(5,551)
(62,694)
582,802
114,963
24,403
6,363,481
-
-
-
-
Total
8,808,354
5,022,465
(7,506,662)
(614,599)
(3,098,796)
(1) This relates to accrual of interest.
418
Integrated Annual Report Enel Américas 2021
NOTE 7. Other financial assets
The detail of other financial assets as of December 31, 2021 and 2020 is as follows:
Other Financial Assets
Financial assets at fair value through profit or loss (1)
Financial assets measured at amortized cost (1)
Financial assets at fair value with changes in results IFRIC 12 (2)
Financial assets at fair value with changes in other
comprehensive income
Financial assets measured at amortized cost IFRIC 12 (3)
Hedging derivatives (4)
Non-hedging derivatives (5)
Total
Balance as of
Current
Non-Current
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
156,171
50,941
-
-
72,226
32,689
3
312,030
118,383
13,827
-
-
10,283
86,465
1,321
230,279
26,193
-
2,978,228
2,155
294,695
171,905
-
25,460
-
2,468,149
268
267,351
29,635
-
3,473,176
2,790,863
(1) The amounts included in financial assets measured at fair value with changes to profit and loss and financial assets at amortized cost mainly correspond
to time deposits and other highly liquid investments that are easily convertible in cash and are subject to low risk of change in their value but that do not
strictly meet the definition of cash equivalents as defined in Note 3.g.2 (for example with maturity date above 90 days at the time of investment).
(2) Corresponding to concession agreements that include Enel Distribución Río S.A., Enel Distribución Ceará S.A., Enel Distribución Goias S.A, Enel
Distribución Sao Paulo S.A. and PH Chucás S.A. with balances as of December 31, 2021 of ThUS$ 949,250 (ThUS$ 831,941, as of December 31,
2020), ThUS$ 702,439 (ThUS$ 582,649 as of December 31, 2020), ThUS$ 78,095 (ThUS$ 43,318 as of December 31, 2020), ThUS$ 1,134,209 (ThUS$
1,010,241 as of December 31, 2020) and ThUS$ 114,235 (ThUS$ 0 as of December 31, 2020,) respectively. The current legislation in effect, among other
aspects, establishes that the government in its capacity of grantor will use the New Replacement Value (VNR) in order to pay the applicable amounts to
concession companies as compensation for those assets not amortized at the end of the concession term. On a monthly basis, distributors adjust the
carrying amount of financial assets, once the present value of the estimated cash flows have been computed, using the rate of interest in effect for the
payment corresponding to the end of concession; see Note 2.2.c and 3.d.1. For Chucás, financial assets relate to the rights receivable from Instituto
Costarricense de Electricidad (ICE), generated under the context of the application of the concession agreement with such entity.
(3) Corresponding to the concession agreement in Enel Green Power Project I (Volta Grande) Fontibon ZE S.A.S., Luz de Angra Energía S.A., EGP
Paranapanema, EGP Mourao and Usme ZE S.A.S; see Note 3.d.1.
(4) See Note 22.2.a)
(5) See Note 22.2.b)
NOTE 8. Other non-financial assets and liabilities
a) The detail of other non-financial assets as of December 31, 2021 and 2020, is as follows:
Other non-financial assets
VAT Credit and Other Taxes
Contributions fund to Enel Distribución Goiás (1)
Ongoing services provided by third parties
Ongoing I & D and Energy Efficiency service
Judicial Deposits
Assets under construction IFRIC 12 (2)
Recoverable taxes - Pis/Cofins (3)
Prepaid expenses
Other
Total
Balance as of
Current
Non-Current
12-31-2021
ThUS$
12-31-2020
ThUS$
121,759
26,823
15,891
96,449
-
-
411,066
31,310
125,462
828,760
68,200
7,536
9,993
90,349
-
-
211,611
53,783
119,314
560,786
12-31-2021
ThUS$
130,510
129,126
-
-
267,838
585,715
1,952,001
-
80,231
3,145,421
12-31-2020
ThUS$
118,268
180,824
-
-
267,266
314,825
1,366,883
-
84,790
2,332,856
(1) Through Law No. 17,555 of January 20, 2012, the state of Goiás in Brazil created the Contribution Fund for Enel Distribución
Goiás (Fundo de Aporte à CELG D - FUNAC), regulated by Decree No. 7,732, dated September 28, 2012, with the purpose of
collecting and allocating financial resources for reimbursement to Enel Distribución Goiás of the payments of contingencies
of any nature which had taken place up until the transfer of equity control to Eletrobrás, which occurred during January 2015,
according to the terms of the agreement between the shareholders and the management, as well as FUNAC’s cooperation
terms. The resources of the aforementioned fund depend on the contributions made by the government of the State of
Goiás and the credits received for lawsuits won by Enel Distribución Goiás, which occurred during January 2015, which are
reimbursed to the respective fund.
Consolidated Financial Statements 419
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During 2019, the State of Goiás enacted a law, which limits the period of coverage of Law No. 17,555, from January 2015
to April 2012. The Group is taking all appropriate measures to maintain the rights acquired at the time of the purchase
of Enel Distribución Goiás, which are guaranteed by the State of Goiás itself, as established in the purchase and sale
agreement signed on February 14, 2017. The appeals presented by the Group argue that the right to the guarantee is legal
and contractual, given that the actions of the State of Goiás are clearly illegal, and the possibility that the legal actions
will not result in a favorable ruling for the Company are considered remote. (see Note 34.3.b.11).
In addition, since the resources are not final, as of year-end 2021 and 2020 an impairment loss was recognized in the
amount of ThUS$ 16,786 and ThUS$ 14,479, respectively, corresponding to the amount of accounts receivable generated
from April 2012 to January 2015. For this same reason, during 2019 an impairment loss of ThUS $ 110,774 was recognized.
(2) Corresponds to assets under construction referring to concessions of the subsidiaries Enel Distribución Río S.A., Enel
Distribución Ceará S.A., Enel Distribución Goiás S.A. and Enel Distribución Sao Paulo S.A.
(3) In March 2017, the Federal Supreme Court of Brazil (STF) resolved a matter of general applicability, related to the
calculation of PIS and COFINS taxes. The STF confirmed the view that the ICMS tax should not be part of the base for
calculation of PIS and COFINS taxes; however, the Brazilian federal government filed an appeal, in order to determine
the temporary effects and make some clarifications.
In May 2021, the Brazilian Federal Supreme Court (BFSC) ruled the appeal and confirmed that the ICMS tax that should
be considered corresponds to invoiced ICMS and not paid-in ICMS. In addition, the Court established that the effects
of this ruling will be backdated to the March 2017 ruling, except for taxpayers who filed an individual claim before such
date. The BSFC is expected to publish this ruling in the Official Gazette in the coming months.
Our subsidiaries in Brazil that were affected by the resolution of the STF, filed legal actions in this sense, in the related
Federal Regional Courts. In 2019, Enel Distribución Sao Paulo and Enel Distribución Ceará were notified of the final decisions
issued by those Courts, recognizing their right to deduct the ICMS applied to their own operations from the calculation
bases of the PIS and COFINS, for the periods from December 2003 to December 2014 for Enel Distribución Sao Paulo, and
from May 2001 and thereafter for Enel Distribución Ceará. In March 2020, Enel Distribución Sao Paulo received a similar
notification for the period from January 2015 and thereafter. During March 2020, Enel Distribución Sao Paulo received a
similar notification for the period January 2015 and thereafter. In March 2021, Enel Distribución Goiás received the same
communication for the period between 2006 and 2021. Finally, during September 2021 Enel Distribución Río received
the same notification, covering the rights arising for the period from December 2003 and thereafter.
Considering various analyses both internal and provided by legal advisors, as well as the best estimates available, Enel
Distribución Sao Paulo, Enel Distribución Ceará, Enel Distribución Goiás and Enel Distribución Rio recognized assets in
the amount of ThUS$ 1,064,948, ThUS$ 187,727, ThUS$ 533,824 and ThUS$ 576,566, respectively, as of December 31,
2021 (ThUS$ 1,326,297, ThUS$ 252,197, ThUS$ 0 and ThUS$ 0, respectively, as of December 31, 2020).
Since the excess payment of the PIS and COFINS taxes was passed down to the end customers at the time, simultaneous
to recognizing these recoverable taxes, our subsidiaries have recognized a regulatory liability for the same amounts
indicated above, net of any cost incurred or to be incurred by the Companies in these legal proceedings. These liabilities
represent the obligation to reimburse the taxes recovered to the end customers.
The Group will adopt the tax credit recovery procedures in accordance with legal provisions. The transfer to consumers
will depend on the effective use of the tax credit by the Companies and will take place in accordance with the regulations
of the Agencia Nacional de Energía Eléctrica (ANEEL).
It is important to note that the PIS and the COFINS are federal contributions paid by companies in Brazil intended to
finance programs for employees, public health, social assistance and social security and are applied to the gross income
of the companies. The “tax on movement of goods and services” (ICMS) is a state value-added tax (VAT) in Brazil, applied
to the sale of telecommunications and transportation goods and services. (See Note 23 and 34.3.b.16).
420
Integrated Annual Report Enel Américas 2021
b) The detail of other non-financial liabilities as of December 31, 2021 and 2020, is as follows:
Other non-financial liabilities
VAT Credit and Other Taxes
Other
Total
Balance as of
Current
Non-Current
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
251,358
34,914
286,272
230,395
36,209
266,604
75,814
58,758
134,572
48,266
68,695
116,961
NOTE 9. Trade and other receivables
a) The detail of trade and other receivables as of December 31, 2021 and 2020, is as follows:
Trade and Other Receivables, Gross
Trade and other receivables, gross
Trade receivables, gross
Accounts receivable from finance leases, gross
Other receivables, gross
Trade and Other Receivables, Net
Trade and other receivables, net
Trade receivables, net
Accounts receivable from finance leases, net
Other receivables, net
Detail of other accounts receivable, net (1)
Advances to suppliers
Accounts receivable "low income" (i)
Accounts receivables from employees
Receivables VOSA project (ii)
Subsidy and contribution mechanisms
Other
Total
Balance as of
Current
Non-Current
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
4,550,361
4,307,971
913
241,477
3,924,946
3,693,052
584
231,310
784,354
497,193
13,742
273,419
643,923
354,376
8,214
281,333
Balance as of
Current
Non-Current
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
3,711,141
3,469,608
889
240,644
3,234,935
3,008,544
568
225,823
724,851
464,855
13,377
246,619
578,524
289,361
8,000
281,163
Balance as of
Current
Non-Current
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
85,139
17,971
7,769
44,898
5,358
79,509
28,441
27,593
7,869
43,800
33,545
84,575
6,203
-
11,857
226,047
-
2,512
-
-
12,798
268,075
-
290
240,644
225,823
246,619
281,163
(i) Accounts receivable from “low income” consumers to which a social discount is applied creating a “low income” final
tariff, in which the Brazilian government replenishes such discount to our subsidiaries Enel Distribución Río S.A., Enel
Distribución Ceará S.A., Enel Distribución Goias and Enel Distribución Sao Paulo S.A. through a government subsidy.
(ii) Account receivables related to the Argentine Project.
Consolidated Financial Statements 421
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Brazilian sector assets
Regulatory (or industry-wide) assets and liabilities are recorded as a result of the signing in December 2014 of significant
amendments to the original concession agreements entered into by our electricity distribution subsidiaries in Brazil.
These amendments established that, in addition to the compensation amounts derived from investments not amortized
during the respective concession periods (see Note 8 (2)), the balances of regulatory assets and liabilities that had not
been recovered or returned through the tariff cycles will also be subject to compensation or return by the Brazilian
government. This implies that the realization of these assets or the settlement of liabilities does not depend on the
invoicing made to customers during the concession period.
These regulatory assets and liabilities arise from the differences between the actual cost and the cost considered in
the tariff adjustments and generate an asset to the extent that the actual cost is greater than the one considered in the
tariff, or a liability when the actual costs are lower than those considered in the tariff. These differences are considered
by ANEEL, which is the government entity that regulates electricity tariffs in Brazil, in the subsequent tariff adjustment process
of each concessionaire company.
In general, as a result of the normal operation of the companies, these regulatory assets and liabilities are collected or settled
through invoices to customers over a period that is on average between 10 and 24 months.
CONTA-COVID
On May 18, 2020, Decree No. 10,350 was issued in the Official Gazette of Brazil, which authorized the creation of CONTA-
COVID, which establishes a cash-advance mechanism for electricity distribution companies in respect to accounts
receivable already accrued, which under normal circumstances would be recovered through future customer billing,
once the corresponding tariff update processes have been carried out. The CONTA-COVID is managed by the Electric
Energy Commercialization Chamber – CCEE.
CONTA-COVID is regulated by Regulatory Resolution No. 885 issued by the Ministry of Mining and Energy, dated June
23, 2020, and its funds were obtained through a “sectorial loan”, entered into by a group of banks. The CCEE centralized
the contracting of loan transactions and transferred the funds to the electricity distribution companies, in accordance
with the limit established by ANEEL for each company.
CONTA-COVID guarantees the economic resources necessary to compensate for the loss of income due to the pandemic
and to protect the rest of the electricity sector’s production chain, by allowing electricity distribution companies to
continue complying with their contracts. Additionally, CONTA-COVID avoided significant adjustments in electricity tariffs,
since without this mechanism, there would have been an impact for consumers in the next readjustments, with payment
in 12 months. With this mechanism, the impact will be diluted over a total period of 60 months.
As of December 31, 2021, no amounts have been received for this concept. As of December 31, 2020, the amounts
received by the electric distribution subsidiaries in Brazil totaled BRL$ 3,172,022 (equivalent to ThUS$ 569,483). This is
presented in the Consolidated Statement of Cash Flows as of that date, under the item “Other cash inflows from operating
activities” and was credited to the related sectorial assets and liabilities.
The tariff increases deferred in this period will be paid by customers in up to 5 years from 2021, through a sectorial tariff
charged by distributors and transferred to the CCEE. The CCEE, in its turn, will amortize the loan entered into with the
syndicate of the sectorial loan creditor banks.
There are no significant trade and other receivables balances held by the Group that are not available for its use.
The Group does not have customers to which it has sales representing 10% or more of its operating revenue for the years
ended December 31, 2021 and 2020.
Refer to Note 10.1 for detailed information on amounts, terms and conditions associated with accounts receivable from
related companies.
422
Integrated Annual Report Enel Américas 2021
b) As of December 2021 and 2020, the analysis of trade accounts receivables due and unpaid, but of which no impairment
losses have been recorded, is as follows:
Trade accounts receivables due and unpaid, but for which no impairment losses have been recorded
Less than three months
Between three and six months
Between six and twelve months
More than twelve months
Total
Balance as of
12-31-2021
ThUS$
12-31-2020
ThUS$
539,492
124,013
103,368
132,349
899,222
555,004
92,337
75,779
169,477
892,597
c) The reconciliation of changes in the allowance for credit losses of trade receivables is as follows:
Trade accounts receivables due and unpaid, with impairment losses
Current and Non-Current
ThUS$
Balance as of January 1, 2020
Increases (decreases) for the year
Amounts written off
Foreign currency translation differences
Balance as of December 31, 2020
Increases (decreases) for the year (*)
Amounts written off
Foreign currency translation differences
Balance as of December 31, 2021
768,217
211,536
(112,591)
(111,752)
755,410
316,004
(113,198)
(59,493)
898,723
(*) Impairment losses on trade accounts receivable amounted to ThUS$ 316,004 as of December 31, 2021, which represented an increase of 49% in
comparison to the loss of ThUS$ 211,536 recorded in the year-end 2020. This increase originated mainly from our Brazil distribution subsidiaries, in
the amount of ThUS$ 112,133 offset by the effects of conversion of different foreign currencies in respect to the U.S. dollar in the amount of ThUS$
(14,983). See Note 30.b) Trade and Other Accounts Receivable Impairment Losses.
Write-offs for doubtful accounts
Past-due debt is written off once all collection measures and legal proceedings have been exhausted and the debtors’ insolvency
has been demonstrated. In our power generation business, this process normally takes at least one year of procedures for
the few cases that arise in each country. In our distribution business, considering the differences in each country, the process
takes at least 6 months in Argentina and Brazil and 12 months in Colombia and Peru. Overall, the risk of bad debt, and therefore
the risk of writing off our trade receivables, is limited (see Notes 3.g.3 and 21.5).
d) Additional information:
• Additional statistical information required under Official Bulletin 715 of the CMF, of February 3, 2012 (XBRL Taxonomy). See
Appendix 3.
• Complementary Trade Accounts Information. See Appendix 3.1.
Consolidated Financial Statements 423
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
NOTE 10. Balances and transactions with related parties
Related party transactions are performed at current market conditions.
Transactions between the companies belonging to the Group have been eliminated on consolidation and are not itemized
in this note
As of the date of these financial statements, no guarantees have been given or received nor has any allowance for bad or
doubtful accounts been recorded with respect to receivable balances for related party transactions.
The controlling shareholder of the Company is the Italian corporation Enel S.p.A.
10.1 Balances and transactions with related parties
The balances of accounts receivable and payable as of December 31, 2021 and 2020 are as follows:
a) Receivables from related companies
Balance as of
Current
Non-Current
Taxpayer ID N° Company
Country
Relationship
Currency
Description of
Transaction
12-31-
2021
ThUS$
416
12-31-
2020
ThUS$
543
EUR
Other Services
COP
Other Services
302
—
EUR
COP
BRL
EUR
Other Services
Other Services
Other Services
Other Services
725
151
226
—
EUR
Other Services
1,330
EUR
Technical
services
EUR
Other Services
EUR
Other Services
EUR
Other Services
541
—
18
3
US$
Other Services
1,285
EUR
Other Services
EUR
Other Services
EUR
Other Services
EUR
Other Services
BRL
Other Services
—
30
22
147
148
PEN
Other Services
229
US$
Loan
receivable
4,607
US$
Other Services
338
COP
Other Services
PEN
Other Services
24
—
1,003
—
243
16
265
—
1
18
1,289
—
86
46
—
102
105
133
—
—
—
33
12-31-
2021
ThUS$
12-31-
2020
ThUS$
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Enel Global Infrastructure
And Network
Enel Global Infrastructure
And Network
Enel S.P.A.
Enel S.P.A.
Enel S.P.A.
E-Distribuzione S.P.A
Italy
Italy
Italy
Italy
Italy
Italy
Foreign
Enel Green Power S.P.A.
Italy
Foreign
Enel Green Power S.P.A.
Italy
Foreign
Enel Global Trading S.P.A.
Italy
Foreign
Endesa Spain
Foreign
Enel Iberia S.R.L.
Foreign
Enel Iberia S.R.L.
Foreign
Endesa Operaciones y
Servicios Comerciales S.L.
Spain
Spain
Spain
Spain
Foreign
Endesa Energía S.A.
Spain
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Endesa Operaciones y
Servicios Comerciales S.L.
Spain
Enel Global Thermal
Generation S.R.L.
Enel Global Thermal
Generation S.R.L.
Proyectos Y Soluciones
Renovables S.A.C.
Proyectos Y Soluciones
Renovables S.A.C.
Energía Nueva Energía
Limpia Mexico S.R.L
Energía Nueva Energía
Limpia Mexico S.R.L
Energía Nueva Energía
Limpia Mexico S.R.L
Italy
Italy
Peru
Peru
Mexico
Mexico
Mexico
Common
Immediate Parent
Common
Immediate Parent
Parent
Parent
Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
424
Integrated Annual Report Enel Américas 2021
Foreign
Enel North América Inc.
Foreign
Enel North América Inc.
Foreign
Enel Green Power Peru
United
States
United
States
Peru
Foreign
Enel Green Power Colombia
S.A.S
Colombia
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Foreign
SACME
Argentina
Associate
76.536.353-5
Enel Chile S.A.
76.536.353-5
Enel Chile S.A.
76.536.353-5
Enel Chile S.A.
76.536.353-5
Enel Chile S.A.
Chile
Chile
Chile
Chile
96.800.570-7
Enel Distribución Chile S.A. Chile
91.081.000-6
Enel Generación Chile S.A.
Chile
91.081.000-6
Enel Generación Chile S.A.
Chile
91.081.000-6
Enel Generación Chile S.A.
Chile
76.412.562-2
Enel Green Power Chile S.A. Chile
76.412.562-2
Enel Green Power Chile S.A. Chile
Foreign
Foreign
Foreign
Grupo Enel Green Power
Brazil Participações Ltda
Grupo Enel Green Power
Brazil Participações Ltda
Grupo Enel Green Power
Brazil Participações Ltda
Brazil
Brazil
Brazil
Foreign
Enel X Argentina S.A.U.
Argentina
Foreign
E-Distributie Muntenia
Italy
Foreign
Electric Motor Werks, Inc.
United
States
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
US$
Other Services
531
PEN
Other Services
44
PEN
Other Services
COP
Other Services
ARS
US$
Other Services
Other Services
COP
Other Services
—
—
6
410
26
93
43
2,271
709
7
430
7
CLP
Other Services
2,250
2,377
BRL
Other Services
410
CLP
Other Services
693
US$
Engineering
services
1,544
US$
Other Services
22
CLP
Other Services
407
CLP
Other Services
US$
Other Services
BRL
Other Services
BRL
Toll
BRL
Energy Sale
ARS
Other Services
US$
Other Services
341
232
—
—
—
21
—
EUR
Other Services
206
Foreign
Foreign
Yacylec S.A.
Enel Finance International
NV
Argentina
Associate
Netherlands Common
US$
US$
Other Services
Financial
investments
1
54,935
Foreign
Enel Produzione
Italy
Foreign
Enel Green Power RSA
Foreign
Enel Green Power North
America, Inc.
South
Africa
United
States
Foreign
Enel Green Power Romania
Romania
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
EUR
Other Services
172
US$
Other Services
673
US$
Other Services
210
EUR
Other Services
83
222
802
—
22
92
—
2
3,208
17
32,544
22
58
141
—
—
—
—
—
—
—
—
—
—
26
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
32
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
Total
73,759
46,950
26
32
Consolidated Financial Statements 425
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
b) Accounts payable to related companies
Taxpayer ID N° Company
Country
Relationship Currency
EUR
EUR
Foreign
Enel X S.R.L.
Italy
Foreign
Enel X S.R.L.
Italy
Foreign
Enel X S.R.L.
Italy
Foreign
Enel X S.R.L.
Italy
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Balance as of
Current
Non-Current
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
Description
of
Transaction
Technical
services
Other
Services
10,902
3,685
1,043
3,702
—
—
—
—
—
—
—
—
EUR
IT Services
3,368
252
US$
Other
Services
91
67
Netherlands Common
BRL
Loan Payable
10,392
145
454,220
144,391
Immediate
Parent
Netherlands Common
US$
Loan Payable
26,622
150,269
89,698
Immediate
Parent
Netherlands Common
EUR
Loan Payable
184,012
—
503,831
Immediate
Parent
Netherlands Common
EUR
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Enel Finance
International
NV (*)
Enel Finance
International
NV (*)
Enel Finance
International
NV (*)
Enel Finance
International
NV
Endesa
Generación
S.A.
Endesa
Generación
S.A.
Endesa
Generación
S.A.
Spain
Spain
Spain
Foreign
Enel Sole
Spain
Foreign
Foreign
Foreign
Foreign
Enel Global
Infrastructure
and Network
Enel Global
Infrastructure
and Network
Enel Global
Infrastructure
and Network
Enel Global
Infrastructure
and Network
Italy
Italy
Italy
Italy
Foreign
Enel Italy S.R.L
Italy
Foreign
Enel Italy S.R.L
Italy
Foreign
Enel Italy S.R.L
Italy
Foreign
Enel Italy S.R.L
Italy
Foreign
Enel Italy S.R.L
Italy
Financial
Guarantee
Service
Other
Services
Engineering
services
Other
Services
Other
Services
Technical
services
Other
Services
203
745
248
217
23
12
25
8
1,028
1,116
26,768
31,107
2,243
17,901
EUR
EUR
US$
EUR
EUR
EUR
EUR
IT Services
37,418
482
BRL
Other
Services
2,341
US$
IT Services
392
—
—
EUR
EUR
EUR
Purchase of
materials
Other
Services
Technical
services
1,724
1,501
569
2,129
—
4
EUR
IT Services
1,675
1,547
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
Foreign
Enel S.P.A.
Italy
Parent
US$
Other
Services
423
—
426
Integrated Annual Report Enel Américas 2021
Taxpayer ID N° Company
Country
Relationship Currency
Balance as of
Current
Non-Current
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
Foreign
Enel S.P.A.
Foreign
Enel S.P.A.
Foreign
Foreign
Enel S.P.A.
Enel S.P.A.
Foreign
Enel S.P.A.
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Enel S.P.A.
E-Distribuzione
S.P.A
Enel
Produzione
Enel
Produzione
Enel
Produzione
Enel
Produzione
Enel
Produzione
Enel Green
Power S.P.A.
Enel Green
Power S.P.A.
Enel Green
Power S.P.A.
Enel Green
Power S.P.A.
Enel Green
Power S.P.A.
Enel Green
Power S.P.A.
Enel Green
Power S.P.A.
Enel Global
Trading S.P.A.
Enel Global
Trading S.P.A.
Enel Global
Trading S.P.A.
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Italy
Foreign
Endesa Spain
Spain
Foreign
Enel Iberia
S.R.L.
Spain
Parent
Parent
Parent
Parent
Parent
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Description
of
Transaction
Other
Services
Technical
services
IT Services
Hedging
derivatives
Financial
Guarantee
Service
Dividends
Other
Services
Other
Services
Technical
services
Engineering
services
14,252
9,063
58,868
51,334
18,465
2,148
119,181
3,417
—
—
182,853
160,914
39
54
457
1,321
960
7,113
6,795
2,978
EUR
EUR
EUR
EUR
EUR
CLP
EUR
EUR
EUR
EUR
—
—
—
—
—
—
EUR
IT Services
899
US$
EUR
EUR
Other
Services
Other
Services
Technical
services
647
3,431
629
21,072
8,196
EUR
IT Services
15,016
942
EUR
US$
Engineering
services
Technical
services
73,172
9,318
US$
IT Services
77
CLP
EUR
EUR
Other
Services
Technical
services
Other
Services
194
5,158
3,967
639
304
EUR
IT Services
1,386
785
EUR
EUR
Other
Services
Other
Services
2,512
2,586
263
1,394
—
—
—
7,804
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
Consolidated Financial Statements 427
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Balance as of
Current
Non-Current
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
Description
of
Transaction
IT Services
Other
Services
Technical
services
749
—
392
318
17,731
15,279
EUR
IT Services
7,300
6,755
Taxpayer ID N° Company
Country
Relationship Currency
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Enel Iberia
S.R.L.
Endesa
Energía S.A.
Enel Global
Thermal
Generation
S.R.L.
Enel Global
Thermal
Generation
S.R.L.
Enel Global
Thermal
Generation
S.R.L.
Enel Global
Thermal
Generation
S.R.L.
Proyectos y
Soluciones
Renovables
S.A.C.
Edistribución
Redes
Digitales, S.L.
Edistribución
Redes
Digitales, S.L.
Spain
Spain
Italy
Italy
Italy
Italy
Peru
Spain
Spain
Foreign
Cesi S.P.A.
Italy
Foreign
Foreign
Foreign
Foreign
Foreign
Enel Green
Power Peru
Enel Green
Power Peru
Peru
Peru
Enel Green
Power
Colombia S.A.S
Enel Green
Power
Colombia S.A.S
Colombia
Colombia
Enel X North
America
United
States
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
EUR
EUR
EUR
EUR
EUR
PEN
EUR
US$
EUR
PEN
PEN
COP
COP
US$
US$
Foreign
SACME
Argentina
Joint venture ARS
76.536.353-5
Enel Chile S.A. Chile
76.536.353-5
Enel Chile S.A. Chile
76.536.353-5
Enel Chile S.A. Chile
76.536.353-5
Enel Chile S.A. Chile
76.536.353-5
Enel Chile S.A. Chile
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
428
Integrated Annual Report Enel Américas 2021
Engineering
services
1,085
—
Other
Services
Other
Services
Other
Services
Technical
services
Engineering
services
Purchase of
Energy
Other
Services
Purchase of
Energy
Other
Services
Other
Services
Other
Services
Other
Services
632
892
2,001
220
623
704
17
—
—
—
—
—
475
189
522
18
52
1,328
70
2,637
16
1
163
1,583
US$
IT Services
2,188
—
CLP
Other
Services
2,010
2,126
CLP
IT Services
1,185
631
BRL
Other
Services
35
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
Taxpayer ID N° Company
Country
Relationship Currency
Foreign
Yacylec S.A.
Argentina
Associated
ARS
Balance as of
Current
Non-Current
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
96.800.570-7
96.800.570-7
91.081.000-6
91.081.000-6
91.081.000-6
91.081.000-6
76.412.562-2
76.412.562-2
76.412.562-2
76.412.562-2
76.412.562-2
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Chile
Chile
Chile
Chile
Chile
Chile
Chile
Chile
Chile
Chile
Chile
Brazil
Brazil
Enel
Distribución
Chile S.A.
Enel
Distribución
Chile S.A.
Enel
Generación
Chile S.A.
Enel
Generación
Chile S.A.
Enel
Generación
Chile S.A.
Enel
Generación
Chile S.A.
Enel Green
Power Chile
S.A.
Enel Green
Power Chile
S.A.
Enel Green
Power Chile
S.A.
Enel Green
Power Chile
S.A.
Enel Green
Power Chile
S.A.
Grupo
Enel Green
Power Brazil
Participações
Ltda
Grupo
Enel Green
Power Brazil
Participações
Ltda
Energética
Monzon S.A.C.
Peru
Enel Global
Services S.r.L
Enel Global
Services S.r.L
Enel Global
Services S.r.L
Enel Global
Services S.r.L
Enel Global
Services S.r.L
Servizio
Elettrico
Nazionale SpA
Italy
Italy
Italy
Italy
Italy
Italy
US$
CLP
US$
US$
CLP
CLP
US$
US$
CLP
CLP
BRL
PEN
US$
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
US$
IT Services
618
Description
of
Transaction
Other
Services
Other
Services
Other
Services
Other
Services
Engineering
services
Other
Services
Engineering
services
Other
Services
Engineering
services
Engineering
services
Other
Services
Purchase of
Energy
Other
Services
Other
Services
Other
Services
15
679
11
766
266
345
97
240
544
—
1,327
780
1,205
1,777
863
978
276
105
430
—
33,395
—
24
431
4
—
—
—
—
—
US$
IT Services
852
EUR
IT Services
48,811
6,110
EUR
EUR
EUR
Other
Services
Technical
services
Other
Services
50
34,999
9,697
12,885
233
146
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
BRL
Common
Immediate
Parent
—
2,005
—
—
Consolidated Financial Statements 429
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Taxpayer ID N° Company
Country
Relationship Currency
Enel X
Argentina
S.A.U.
Argentina
Electric Motor
Werks, Inc.
United
States
Energía Nueva
Energía Limpia
Mexico S.R.L
Energía Nueva
Energía Limpia
Mexico S.R.L
Enel Green
Power Spain
Mexico
Mexico
Spain
Romania
ARS
EUR
US$
US$
EUR
EUR
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
Enel Green
Power
Romania
Enel Green
Power El
Salvador
Gridspertise
Srl
Enel
Ingegneria e
Innovazione
El Salvador Common
US$
Immediate
Parent
Common
Immediate
Parent
Common
Immediate
Parent
EUR
EUR
Italy
Italy
Total
Description
of
Transaction
Other
Services
Other
Services
Other
Services
Engineering
services
Other
Services
Other
Services
Other
Services
Other
Services
Engineering
services
Balance as of
Current
Non-Current
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
3
—
202
894
190
233
—
655
50
3
510
—
—
—
—
—
—
—
—
—
—
—
—
—
6,945
—
—
—
—
—
—
—
—
—
—
—
955,707
597,122
1,062,498
144,391
(*) See Note d) below.
c) Significant transactions and effects on profit or loss:
As of December 31, 2021, 2020 and 2019 the significant transactions with related companies that are not consolidated, are as follows:
Taxpayer ID N°
Company
Country
Relationship
For the years ended,
Description of
Transaction
12-31-2021
ThUS$
12-31-2021
ThUS$
12-31-2019
ThUS$
76.536.353-5
Enel Chile S.A.
Chile
Common
Immediate Parent
Administration and
IT services
(3,547)
(7,158)
(7,707)
76.536.353-5
Enel Chile S.A.
Chile
Common
Immediate Parent
IT Services
(5,109)
—
—
Netherlands Common
Financial expenses
(39,181)
(2,441)
(127,977)
Enel Finance
International NV
Enel Global
Infrastructure
and Network
Enel Global
Infrastructure
and Network
Enel Global
Infrastructure
and Network
Enel Global
Services S.r.L
Enel Global
Thermal
Generation S.R.L.
Enel Global
Thermal
Generation S.R.L.
Italy
Italy
Italy
Italy
Italy
Italy
Enel Green Power
Colombia S.A.S
Spain
Enel Green Power
Peru
Peru
Immediate Parent
Common
Immediate Parent
IT Services
(8,405)
(7,418)
Common
Immediate Parent
Expatriate Personal
Services
(2,989)
(897)
—
—
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Technical services
(28,228)
(30,448)
(16,685)
IT Services
(5,253)
(7,051)
IT Services
(2,008)
—
—
—
Technical services
(6,350)
(7,268)
(3,536)
Purchase of Energy —
(8,483)
(7,156)
Common
Immediate Parent
Other Services
Provisions
—
1,993
—
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
430
Integrated Annual Report Enel Américas 2021
Foreign
Enel Green Power
S.P.A
Italy
Foreign
Enel Italy S.R.L
Italy
Foreign
Enel Italy S.R.L
Italy
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Italy
Italy
Italy
Italy
Italy
Brazil
Brazil
Enel S.P.A.
Enel S.P.A.
Enel S.P.A.
Enel S.P.A.
Enel X S.R.L.
Grupo Enel Green
Power Brazil
Participações
Ltda
Grupo Enel Green
Power Brazil
Participações
Ltda
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Parent
Parent
Parent
Parent
Common
Immediate Parent
Common
Immediate Parent
Common
Immediate Parent
Technical services
(11,011)
(3,757)
—
IT Services
—
(758)
(12,278)
Technical services
—
Financial expenses
(24,913)
IT Services
Expatriate Personal
Services
(7,239)
(3,778)
Technical services
(15,187)
Technical services
(6,841)
—
—
—
(6,778)
—
—
(4,045)
(2,827)
(11,542)
(2,852)
(11,554)
—
Purchase of Energy (81,395)
(147,841)
(93,299)
Energy Sale
6,707
54,158
1,134
The transactions detailed in the preceding table correspond to all those that exceed US$ 2,000,000 by counterparty and
nature of the transactions.
d) Significant transactions of Enel Américas:
− On May 20, 2020, Enel Américas S.A. formalized and completely used, a committed revolving credit facility with Enel
Finance International N.V. for a total of US$ 150 million at a variable interest rate of LIBOR 1M, 3M or 6M plus a 1.35%
margin, with monthly, quarterly or biannual interest payments with expiration date of May 20, 2021. This revolving credit
facility had no guarantees. This facility was paid in full on its maturity date of May 20, 2021.
− On June 5, 2020, Enel Finance International NV formalized a committed credit line in Brazilian reals with Enel Brasil S.A.
for BRL 800 million, maturing on June 12, 2021, at a variable interest rate. On August 5, 2021, this credit line was renewed
at a rate of CDI + 0.85%, maturing in February 2023. As of December 31, 2021, this committed revolving credit facility
has not been drawn upon.
− On December 21, 2020, Enel Finance International NV formalized an unsecured loan agreement with Enel Distribución
Río, denominated in Brazilian reals, in the amount of BRL 750 million, at a fixed interest rate of 3.4%, with payments of
interest made annually to be paid in full on the maturity date, January 22, 2024 , which is the date when its principal and
interest amortize.
− On December 31, 2020, Enel Green Power Panama formalized a revolving credit facility with Enel Finance International
N.V. for US$15 million, at a variable interest rate of LIBOR 3M + 0.40%, with a quarterly interest payment, maturing on
December 31, 2021. This revolving credit facility has no guarantees. As of December 31, 2021, this facility is past due.
− On December 31, 2020, PH Chucás S.A. formalized a revolving credit facility with Enel Finance International N.V. for US$10
million, at a variable interest rate of LIBOR 3M + 1.1%, with a quarterly interest payment, maturing on December 31, 2021.
This revolving credit facility has no guarantees. As of December 31, 2021, this facility is past due.
− On February 14, 2021, Enel Américas S.A. formalized a revolving credit facility with Enel Finance International N.V. for US
$500 million, at a variable interest rate of LIBOR 1M, 3M or 6M + 1.08%, with monthly, quarterly or semi-annual interest
payments, maturing on February 14, 2024. This revolving credit facility has no guarantees. As of December 31, 2021, this
committed credit facility has not been drawn upon.
− On March 2, 2021, Enel Finance International NV has formalized a loan agreement in Brazilian reals of BRL$500 million
with Enel Distribución Ceará at a CDI rate + 1.1%, without guarantees. This loan will be fully repaid in a single principal
and interest payment due on the maturity date, which is March 2, 2025.
− On March 4, 2021, Enel Finance International NV formalized a loan agreement in Brazilian reals of BRL$600 million with
Enel Distribución Goiás, at a CDI rate + 1.1%, without guarantees. This loan will be fully repaid in a single principal and
interest payment due on the maturity date, which is March 4, 2023.
Consolidated Financial Statements 431
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− On April 6, 2021, Enel Finance International NV formalized a loan agreement in Brazilian reals of BRL$160 million with Enel
Distribución Goiás, at a CDI rate + 1.1%, without guarantees. This loan will be fully repaid in a single principal and interest
payment due on the maturity date, which is April 6, 2023.
− On April 15, 2021, Enel Finance International NV formalized a loan agreement in Brazilian reals of BRL$230 million with Enel
Distribución Rio, at a CDI rate + 0.9%, without guarantees. This loan will be fully repaid in a single principal and interest
payment due on the maturity date, which is April 15, 2023.
− On April 19, 2021, Enel Finance International NV formalized a loan agreement in Brazilian reals of BRL$290 million with
Enel Distribución Goiás, at a CDI rate + 1.0%, without guarantees. This loan will be fully repaid in a single principal and
interest payment due on the maturity date, which is April 19, 2023.
− On July 1, 2021, Enel Finance International NV formalized a loan agreement in euros for € 50 million with Enel Distribución
Rio, at a EUR rate + 1.29%, without guarantees. This loan will be fully repaid in a single principal and interest payment due
on the maturity date, which is July 3, 2023.
− On July 8, 2021, Enel Finance International NV formalized a loan agreement in euros for €50 million with Enel Distribución
Rio, at a EUR rate + 1.29%, without guarantees. This loan will be fully repaid in a single principal and interest payment due
on the maturity date, which is July 8, 2024.
− On July 31, 2021, Enel Finance International NV formalized a loan agreement in euros for €36 million with Enel Distribución
Goiás, at a EUR rate + 1.29%, without guarantees. This loan will be fully repaid in a single principal and interest payment
due on the maturity date, which is July 31, 2023.
− On August 5, 2021, Enel Finance International NV formalized a loan agreement in euros for €20 million with Enel Distribución
Goiás, at a EUR rate + 1.53%, without guarantees. This loan will be fully repaid in a single principal and interest payment
due on the maturity date, which is August 5, 2024.
− On September 1, 2021, Enel Finance International NV formalized a loan agreement in euros for € 22 million with Enel
Distribución Goiás, at a EUR rate + 1.53%, without guarantees. This loan will be fully repaid in a single principal and interest
payment due on the maturity date, which is September 2, 2024.
− On September 3, 2021, Enel Finance International NV formalized a loan agreement in euros for € 50 million with Enel
Distribución Rio, at a EUR rate + 1.53%, without guarantees. This loan will be fully repaid in a single principal and interest
payment due on the maturity date, which is September 3, 2024.
− On September 20, 2021, Enel Finance International NV formalized a loan agreement in euros for € 45 million with Enel
Distribución Goiás, at a EUR rate + 1.59%, without guarantees. This loan will be fully repaid in a single principal and interest
payment due on the maturity date, which is September 20, 2024.
− On October 1, 2021, Enel Finance International NV formalized a loan agreement with Enel Distribución Goias in euros
for € 73 million, at a EUR all-in-rate of 1.81%, without guarantees. This loan will be fully repaid in a single principal and
interest payment due on the maturity date, which is October 1, 2024.
− On October 13, 2021, Enel Finance International NV formalized a loan agreement with Enel Distribución Río, denominated
in euros, in the amount of € 40 million, at a EUR all-in rate of 1.59%, without guarantees. This loan will be fully repaid in a
single principal and interest payment due on the maturity date, which is October 13, 2024.
− On December 14, 2021, Enel Finance International NV formalized a loan agreement with Enel Distribución Rio, denominated
in euros, in the amount of € 55 million, at a EUR all-in rate of 1.65%, without guarantees, and single principal and interest
payment due on the maturity date, which is December 16, 2024.
− On December 28, 2021, Enel Finance International NV formalized a loan agreement with Enel Distribución Río, denominated
in euros, in the amount of € 160 million, at a EUR all-in rate of 1.06%, without guarantees. This loan will be fully repaid in
a single principal and interest payment due on the maturity date, which is December 28, 2024.
− On December 31, 2021, Enel Green Power Peru formalized a committed revolving credit facility with Enel Finance
International NV totaling US$ 30 million, at a LIBOR 1M, 3M, or 6M variable interest plus a 0.9% margin, with monthly,
quarterly, or biannual interest payments and maturity on December 31, 2022. This revolving credit facility has no guarantees.
As of December 31, 2021, this facility has not been drawn upon.
432
Integrated Annual Report Enel Américas 2021
10.2 Board of directors and key management personnel
The Company is managed by a Board of Directors which consists of seven members. Each director serves for a three-year
term after which they can be reelected.
The Board of Directors as of December 31, 2021 was elected at the General Shareholders Meeting held on April 29, 2021, and
is composed of the following members:
− Mr. Francisco de Borja Acha Besga
− Mr. José Antonio Vargas Lleras
− Mrs. Giulia Genuardi
− Mrs. Francesca Gostinelli
− Mr. Hernán Somerville Senn
− Mr. Patricio Gómez Sabaini
− Mr. Domingo Cruzat Amunátegui
At the Board meeting held on April 29, 2021, Mr. Francisco de Borja Acha Besga was elected as Chairman of the Board and
Mr. Domingo Valdés Prieto as Secretary of the Board.
The Directors’ Committee was also appointed during the same Board meeting, governed by Law No.18,046 (the Chilean
Corporations Law) and the Sarbanes-Oxley Act. The Director’s Committee comprises the independent Directors Mr. Hernán
Somerville Senn, Mr. Patricio Gómez Sabaini, and Mr. Domingo Cruzat Amunátegui. All of the members of the Directors’
Committee are independent Directors in accordance with the provisions of Circular No. 1,956 issued by the CMF. The Chairman
and Secretary of the Directors’ Committee appointed by the Directors’ Committee are Mr. Hernán Somerville Senn and Mr.
Domingo Valdés Prieto, respectively.
The Board of Directors appointed Mr. Hernán Somerville Senn as the financial expert of the Directors’ Committee of Enel
Américas S.A.
a) Accounts receivable and payable and other transactions
• Accounts receivable and payable
• There are no outstanding amounts receivable or payable between the Company and the members of the Board of Directors
and key management personnel.
• Other transactions
No transactions other than the payment of compensation has taken place between the Company and the members of the
Board of Directors and key management personnel.
b) Guarantees given by the Company in favor of the directors
No guarantees have been given to the directors.
c) Compensation for directors
In accordance with Article 33 of Law No. 18,046 (the Chilean Corporations Law) governing stock corporations, the compensation
of Directors is established each year at the General Shareholders Meeting of the Company.
The compensation consists of paying each member of the Board of Directors monthly compensation, one part in a fixed
monthly fee and another part dependent on meetings attended. The breakdown of this compensation is as follows:
− UF 216 as a fixed monthly fee, and
− UF 79.2 as a per diem for each Board meeting attended with a maximum of 16 sessions in total whether ordinary or
extraordinary, within the corresponding exercise.
According to the provisions of the bylaws, the remuneration of the Chairman of the Board will be twice that of a Director.
In the event a Director of Enel Américas participates in more than one Board of Directors of domestic or foreign subsidiaries and
Consolidated Financial Statements 433
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/ or affiliates or acts as director or consultant for other domestic or foreign companies or legal entities in which Enel Américas
has a direct or indirect interest, he/she may receive remuneration only in one of said Boards of Directors or Management Boards.
The executive officers of Enel Américas S.A. and/or its domestic or foreign subsidiaries or affiliates will not receive remunerations
or per diem allowances if acting as directors of any of the domestic or foreign Enel Américas’ subsidiaries, affiliates or investee
in any way. Therefore, said remunerations or per diem allowances may be received by the executive officers as long as this is
previously and expressly authorized as an advance of their variable portion of remuneration by the corresponding companies
with which they are associated through an employment contract.
Directors’ Committee:
Each member will be paid monthly compensation, one part in a fixed monthly fee and another part dependent on meetings attended.
This compensation is broken down as follows:
− UF 72 as a fixed monthly fee, in any event, and
− UF 26.4 as a per diem for each Board meeting attended, all with a maximum of 16 meetings in total, whether ordinary or
extraordinary, within the corresponding fiscal year.
The following tables show details of the compensation paid to the members of the Board of Directors of the Company for the
years ended December 31, 2021, 2020 and 2019:
Taxpayer ID
Name
Francisco de Borja
Acha Besga
José Antonio
Vargas Lleras
Enrico Viale
Position
Chairman
Vice Chairman
Director
Livio Gallo
Director
Giulia Genuardi
Director
Francesca
Gostinelli
Hernán Somerville
Senn
Patricio Gómez
Sabaini
Domingo Cruzat
Amunátegui
TOTAL
Director
Director
Director
Director
Period in position
January -
December 2021
January -
December 2021
January - March
2021
January - March
2021
April - December
2021
April - December
2021
January -
December 2021
January -
December 2021
January -
December 2021
December 31, 2021
Enel Américas
Board
ThUS$
Board of
Subsidiaries
ThUS$
Directors’
Committee
ThUS$
-
-
-
-
-
-
149
149
149
447
-
-
-
-
-
-
-
-
-
—
-
-
-
-
-
-
47
47
47
141
No.
Name
Position
Period in position
Francisco de Borja
Acha Besga
Chairman
José Antonio
Vargas Lleras
Enrico Viale
Vice Chairman
Director
Livio Gallo
Director
Hernán Somerville
Senn
Patricio Gómez
Sabaini
Domingo Cruzat
Amunátegui
TOTAL
Director
Director
Director
January -
December 2020
January -
December 2020
January -
December 2020
January -
December 2020
January -
December 2020
January -
December 2020
January -
December 2020
December 31, 2020
Enel Américas
Board
ThUS$
Board of
Subsidiaries
ThUS$
Directors’
Committee
ThUS$
-
-
-
-
143
143
143
429
-
-
-
-
-
-
-
—
-
-
-
-
47
47
47
141
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
4.132.185-7
Foreign
6.989.304-K
Foreign
Foreign
Foreign
Foreign
4.132.185-7
Foreign
6.989.304-K
434
Integrated Annual Report Enel Américas 2021
No.
Name
Position
Period in position
Foreign
Foreign
Foreign
Foreign
4.132.185-7
Foreign
6.989.304-K
Francisco de Borja
Acha Besga
Chairman
José Antonio
Vargas Lleras
Enrico Viale
Vice Chairman
Director
Livio Gallo
Director
Hernán Somerville
Senn
Patricio Gómez
Sabaini
Domingo Cruzat
Amunátegui
TOTAL
Director
Director
Director
January -
December 2019
January -
December 2019
January -
December 2019
January -
December 2019
January -
December 2019
January -
December 2019
January -
December 2019
December 31, 2019
Enel Américas
Board
ThUS$
Board of
Subsidiaries
ThUS$
Directors’
Committee
ThUS$
-
-
-
-
159
159
159
478
-
-
-
-
-
-
-
—
-
-
-
-
48
48
48
144
10.3 Compensation of key management personnel
a) Remunerations received by key management personnel
Key Management Personnel
Taxpayer ID
No.
Foreign
Foreign
10.560.169-7
25.067.660-3
Foreign
6.973.465-0
Name
Position
Maurizio Bezzeccheri (1)
Chief Executive Officer
Aurelio Ricardo Bustilho de Oliveira (2)
Administration, Finance and Control Manager
Francisco Miqueles Ruz (3)
Simone Tripepi (4)
Raffaele Cutrignelli (5) (6)
Domingo Valdés Prieto (5)
Planning and Control Manager
Enel X South America Manager
Internal Audit Manager
Attorney and Secretary of the Board
(1) Mr. Maurizio Bezzeccheri assumed the position of Chief Executive Officer on August 1, 2018.
(2) Mr. Aurelio Ricardo Bustilho de Oliveira assumed the position of Administration, Finance and Control Manager on October 1, 2018.
(3) Mr. Francisco Miqueles Ruz assumed the position of Planning and Control Manager on February 26, 2020, replacing Mr. Paolo Pescarmona. Mr.
Miqueles ceased his functions as of October 1, 2021.
(4) Mr. Simone Tripepi assumed the position of Enel X South America Manager on August 29, 2019.
(5) Messrs. Raffaele Cutrignelli and Domingo Valdés Prieto, executive officers of Enel Américas, are paid by Enel Américas who is their employer, but
they provide services to the Company by virtue of an intercompany contract between those companies.
(6) Mr. Eugenio Belinchon Gueto assumed the position of Internal Audit Manager on February 1, 2022, replacing Mr. Raffaele Cutrignelli.
Incentive plans for key management personnel
Enel Américas has implemented an annual bonus plan for its executives based on meeting company-wide objectives and on the
level of their individual contribution in achieving the overall goals of the Group. The plan provides for a range of bonus amounts
according to seniority level. The bonuses paid to the executives consist of a certain number of monthly gross remunerations.
Compensation of key management personnel is the following:
Remuneration
Short-term benefits for employees
Other long-term benefits - IAS
Total
For the years ended December 31,
2021
ThUS$
3,869
88
7
3,964
2020
ThUS$
3,495
148
7
3,650
2019
ThUS$
2,407
106
-
2,513
b) Guarantees established by the Company in favor of key management personnel
No guarantees have been given to key management personnel.
Consolidated Financial Statements 435
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10.4 Compensation plans linked to share price
There are no payment plans granted to the Directors or key management personnel based on the share price of the Company’s
common stock.
NOTE 11. Inventories
The detail of inventories as of December 31, 2021 and 2020 is as follows:
Classes of Inventories
Supplies for Production
Oil
Coal
Spare parts
Electrical materials
Total
Balance as of
12-31-2021
ThUS$
21,639
14,898
6,741
72,256
444,381
538,276
12-31-2020
ThUS$
26,685
16,686
9,999
53,013
391,735
471,433
There are no inventories acting as security for liabilities.
For the years ended December 31, 2021, 2020 and 2019, raw materials and inputs recognized as fuel cost amount to ThUS$
116,666, ThUS$ 137,850 and ThUS$ 277,117, respectively (see Note 28).
For the years ended December 31, 2021, 2020 and 2019 there have been no impairments recognized in inventories.
NOTE 12. Current tax assets and liabilities
a) The detail of current tax receivables as of December 31, 2021 and 2020, is as follows:
Tax assets
Advance income tax payments
Others
Total
b) The detail of current tax payables as of December 31, 2021 and 2020, is as follows:
Tax liabilities
Income tax
Total
Balance as of
12-31-2021
ThUS$
191,858
9,882
201,740
12-31-2020
ThUS$
118,609
9,271
127,880
Balance as of
12-31-2021
ThUS$
183,060
183,060
12-31-2020
ThUS$
222,870
222,870
436
Integrated Annual Report Enel Américas 2021
NOTE 13. Investments accounted for using the equity method
13.1 Investments accounted for using the equity method
a) The investments of the Group accounted for using the equity method and their changes during the years ended December
31, 2021 and 2020, are detailed as follows:
Taxpayer
ID
No,
Associates
and Joint
Ventures
Relationship
Country
Foreign
Yacylec S.A. Associate
Argentina
Foreign
Sacme S.A.
Joint venture
Argentina
Associate
Argentina
Foreign
Total
Central
Vuelta
Obligado
S.A.
Taxpayer
ID
No,
Associates
and Joint
Ventures
Relationship
Country
Foreign
Yacylec S.A. Associate
Argentina
Foreign
Sacme S.A.
Joint venture
Argentina
Associate
Argentina
Associate
Argentina
Associate
Argentina
Foreign
Foreign
Foreign
Total
Central
Térmica
Manuel
Belgrano (1)
Central
Térmica San
Martin (1)
Central
Vuelta
Obligado
S.A.
Functional
Currency
Argentine
peso
Argentine
peso
Argentine
peso
Functional
Currency
Argentine
peso
Argentine
peso
Argentine
peso
Argentine
peso
Argentine
peso
Company
share
percentage
33,33%
50,00%
Balance as of
1-1-2021
ThUS$
Share of
Profit (Loss)
ThUS$
995
133
168
32
981
Dividends
Declared
ThUS$
(250)
-
40,90%
1,145
(954)
(208)
(135)
(24)
Foreign
Currency
Translation
ThUS$
Other
Increase
(Decrease)
ThUS$
Argentine
hyperinflationary
economy
ThUS$
Balance as of
12-31-2021
ThUS$
-
(61)
194
298
1,076
55
-
135
1,158
2,273
1,181
(1,204)
(367)
133
353
2,369
Share of
Profit (Loss)
ThUS$
Dividends
Declared
ThUS$
Foreign
Currency
Translation
ThUS$
Other
Increase
(Decrease)
ThUS$
Argentine
hyperinflationary
economy
ThUS$
Balance as of
12-31-2020
ThUS$
Company
share
percentage
Balance as of
1-1-2020
ThUS$
33,33%
1,220
50,00%
0,00%
186
32
475
28
687
(345)
(252)
-
(483)
(54)
(9)
-
(75)
(227)
0,00%
249
732
(548)
(72)
(361)
40,90%
291
1,211
(481)
(84)
208
(103)
48
-
-
-
995
133
-
-
1,145
1,978
3,133
(1,857)
(471)
(455)
(55)
2,273
(1) During November 2020, all conditions were met to allow the Argentine government to enter into the ownership of the Manuel Belgrano Thermal
Power Plant and the San Martin Thermal Power Plant. This situation caused the Group to lose significant influence in those plants (see Note 34.6).
Based on the above, the Group reclassified these investments as financial assets at fair value through profit or loss, generating a finance income of
ThUS$ 24,893 at year end of 2020 (see Note 32).
b) Additional financial information on investments in associates:
Investments with significant influence
The following tables set forth financial information as of December 31, 2021 and 2020, from the financial statements of the
investments in associates where the Group has significant influence:
Investments
with
Significant
Influence
Yacylec S.A.
Investments
with
Significant
Influence
Yacylec S.A.
Company share
percentage
Direct /
Indirect %
Current
Assets
ThUS$
Non-Current
Assets
ThUS$
Current
Liabilities
ThUS$
Non-Current
Liabilities
ThUS$
Revenue
ThUS$
Expenses
ThUS$
Profit
(Loss)
ThUS$
Other
Comprehensive
Income
ThUS$
Comprehensive
Income
ThUS$
33.33%
3,407
1,537
672
1,044
1,866
(1,362)
504
(405)
99
December 31, 2021
Company share
percentage
Direct /
Indirect %
Current
Assets
ThUS$
Non-Current
Assets
ThUS$
Current
Liabilities
ThUS$
Non-Current
Liabilities
ThUS$
Revenue
ThUS$
Expenses
ThUS$
Profit
(Loss)
ThUS$
Other
Comprehensive
Income
ThUS$
Comprehensive
Income
ThUS$
33.33%
3,975
1,314
866
1,437
3,388
(1,963)
1,425
(755)
670
December 31, 2020
None of our associates have issued price quotations.
There are no significant commitments and contingencies, or restrictions to the availability of funds in associated companies
and joint ventures.
Consolidated Financial Statements 437
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NOTE 14. Intangible assets other than goodwill
The following table presents intangible assets other than Goodwill as of December 31, 2021 and 2020:
Classes of Intangible Assets, gross
Intangible Assets, Gross
Easements and water rights
Concessions
Development costs
Patents, registered trademarks and other rights
Computer software
Other identifiable intangible assets
Intangible Assets, Amortization and Impairment
Accumulated Amortization and Impairment, Total
Easements and water rights
Concessions
Development costs
Patents, registered trademarks and other rights
Computer software
Other identifiable intangible assets
Classes of Intangible Assets, Net
Intangible Assets, Net
Easements and water rights
Concessions, Net(1)
Development costs
Patents, registered trademarks and other rights
Computer software
Other identifiable intangible assets
(1) The detail of concessions is the following:
Concession Holder
Enel Distribución Río S.A. (*)
Enel Distribución Ceará S.A. (*)
Enel Distribución Goias S.A. (*)
Enel Distribución Sao Paulo S.A. (*)
EGP Cachoeira Dourada S.A.
Grupo EGP Brasil
PH Chucás S.A. (*)
Enel Fortuna S.A.
Enel Green Power Panamá, S.R.L.
Sociedad Portuaria Central Cartagena S.A.
Enel Green Power Volta Grande
TOTAL
12-31-2021
ThUS$
9,116,265
42,351
8,216,801
21,807
151,027
594,329
89,950
12-31-2021
ThUS$
(4,359,995)
(16,465)
(4,095,665)
(9,057)
(24,495)
(164,481)
(49,832)
12-31-2021
ThUS$
4,756,270
25,886
4,121,136
12,750
126,532
429,848
40,118
12-31-2020
ThUS$
8,525,990
50,415
8,042,389
14,544
44,596
372,455
1,591
12-31-2020
ThUS$
(4,001,164)
(16,969)
(3,807,526)
(9,708)
(23,499)
(141,994)
(1,468)
12-31-2020
ThUS$
4,524,826
33,446
4,234,863
4,836
21,097
230,461
123
12-31-2021
ThUS$
12-31-2020
ThUS$
457,564
534,325
403,268
434,656
1,332,237
1,240,641
1,785,849
1,965,083
50,483
60,158
6,719
52,587
28,711
2
1,940
1,776
-
-
-
-
-
-
4,121,136
4,234,863
(*) Public service concession agreements to a private operator are recorded in accordance with IFRIC 12 Service Concession Agreements (see Note
3.d.1).
438
Integrated Annual Report Enel Américas 2021
The reconciliations of the carrying amounts of intangible assets as of December 31, 2021 and 2020 are as follows:
Movements in Intangible
Assets
Movements in identifiable
intangible assets:
Opening balance as of
January 1, 2021
Increases other than from
business combinations
Acquisitions made through
business combinations
Increase (decrease) from
foreign currency translation
differences, net
Amortization
Impairment loss recognized
in profit or loss for the
period (1)
Increases (decreases) from
transfers and other changes
Increases (decreases)
from transfers
Disposals and removal from
service
Removals from service
Argentine hyperinflationary
economy
Other increases (decreases)
Total movements in
identifiable intangible assets
Closing balance as of De-
cember 31, 2021
Movements in Intangible
Assets
Opening balance as of
01.01.2020
Movements in identifiable
intangible assets:
Increases other than from
business combinations
Increase (decrease) from
foreign currency translation
differences, net
Amortization
Increases (decreases) from
transfers and other changes
Increases (decreases)
from transfers
Disposals and removal
from service
Removals from service
Argentine hyperinflationary
economy
Other increases (decreases)
Total movements in
identifiable intangible
assets
Closing balance as of De-
cember 31, 2020
Development
Costs
ThUS$
Easements
ThUS$
Concessions
ThUS$
Patents,
Registered
Trademarks
and
Other Rights
ThUS$
Computer
Software
ThUS$
Other
Identifiable
Intangible
Assets
ThUS$
Intangible
Assets,
Net
ThUS$
-
4,836
33,446
4,234,863
21,097
230,461
123
4,524,826
-
-
365,893
106,470
63,272
-
535,635
12,479
436
93,423
9,079
179,541
38,647
333,605
(1,334)
(8,899)
(284,856)
(5,498)
(68,211)
810
(367,988)
(180)
(750)
(2,302)
(2,302)
-
-
-
1
7,914
(1,159)
(388,806)
-
-
(2,862)
-
(35,851)
-
(1,922)
(430,780)
-
(750)
1,995
(1,485)
1,995
(1,485)
1,951
1,951
-
-
-
67
(7,560)
(8,558)
(4,720)
(8,558)
31
110,631
(113,727)
(4,720)
-
1,015
105,435
(297)
(297)
(163)
(163)
25,496
35,600
199,387
138
138
-
-
-
2,322
39,995
-
-
(13,441)
(13,441)
25,527
149,636
231,444
12,750
25,886
4,121,136
126,532
429,848
40,118
4,756,270
Development
Costs
ThUS$
Easements
ThUS$
Concessions
ThUS$
Patents,
Registered
Trademarks
and
Other Rights
ThUS$
4,546
31,487
5,281,728
25,490
Other
Identifiable
Intangible
Assets
ThUS$
198
Computer
Software
ThUS$
184,430
Intangible
Assets,
Net
ThUS$
5,527,879
-
-
-
738,387
-
82,988
-
821,375
(263)
(1,472)
(1,192,132)
(1,705)
(20,661)
(16)
(1,216,249)
(146)
488
488
-
-
-
211
290
(1,257)
4,688
4,688
-
-
-
-
(357,855)
(996)
(3,149)
461
(29,963)
(4,641)
(996)
461
(4,641)
(16,522)
(16,522)
37
(217,784)
-
-
-
-
1,959
(1,046,865)
(4,393)
-
-
9,991
8,317
46,031
(59)
(392,429)
-
-
-
-
-
-
-
-
(16,522)
(16,522)
10,028
(209,256)
(75)
(1,003,053)
4,836
33,446
4,234,863
21,097
230,461
123
4,524,826
Consolidated Financial Statements 439
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(1) See Note 30.b) As of December 31, 2021, the main additions to concession intangible assets in the amount of ThUS$ 365,893 (ThUS$
738,387 as of December 31, 2020) arise mainly from Enel Distribución Río S.A., Enel Distribución Ceará S.A., Enel Distribución Sao
Paulo S.A. and Enel Distribución Goiás S.A. for investments in networks and extensions to optimize their operation, in order to improve
the efficiency and quality of the level of service. These are recorded under concessions, in accordance with IFRIC 12 (See Note 3.d.1).
Additions to intangible assets for the year ended December 31, 2021 and 2020, amounted to ThUS$ 535,635 and ThUS$
821,375, respectively.
The amortization of intangible assets are presented net of PIS and COFINS taxes in the Brazilian subsidiaries.
The financial expenses capitalized for the years ended December 31, 2021, 2020 and 2019 were ThUS$ 5,475 ThUS$ 1,185 and
ThUS$ 7,611, respectively (see Note 32). The average financing rate by averaging the financing rates from different geographical
areas as 3.9%, 4.98% and 9.27% for the years ended December 31, 2021, 2020 and 2019, respectively.
During the years ended December 31, 2021, 2020 and 2019 the expenses for personnel directly related to constructions in progress
were activated for the item of concessions for the amount of ThUS$ 103,072, ThUS$ 76,470 and ThUS$ 89,154, respectively.
According to the estimates and projections of the Group management, the projections for the cash flows attributed to
intangible assets allow recovering the net value of these assets recorded as of December 31, 2021 and 2020 (see Note 3.e).
As of December 31, 2021 and 2020, the Company has no intangible assets of indefinite useful life that can represent significant amounts.
NOTE 15. Goodwill
The following table sets forth goodwill by cash-generating unit or group of cash-generating units to which it belongs and
changes for the years ended December 31, 2021 and 2020:
Opening
balance
1-1-2020
ThUS$
211,367
Foreign
Currency
Translation
ThUS$
(47,672)
13,191
(529)
Argentine
hyperinflationary
economy
ThUS$
Closing
balance
12-31-2020
ThUS$
Business
Combination
ThUS$
-
-
163,695
12,662
Foreign
Currency
Translation
ThUS$
(11,043)
(2,016)
Argentine
hyperinflationary
economy
ThUS$
Impairment (*)
ThUS$
-
-
-
-
Closing
balance
12-31-2021
ThUS$
152,652
10,646
Company
Cash Generating Unit
Enel Distribución
Rio S.A.
Compañía
Distribuidora y
Comercializadora de
Energía S.A.
Enel Distribución Río
S.A. (1)
Compañía
Distribuidora y
Comercializadora de
Energía S.A. (2)
Enel Generación El
Chocón S.A.
Enel Generación El
Chocón S.A. (3)
Enel Distribución
Perú S.A.
EGP Cachoeira
Dourada S.A.
Enel Generación
Perú S.A.
Enel Distribución
Perú (4)
EGP Cachoeira
Dourada S.A. (5)
Enel Generación
Perú (6)
Emgesa S.A. E.S.P.
Emgesa S.A. E.S.P. (7)
Enel Perú S.A.
Enel Distribución Perú
Enel Brasil S.A.
Enel Brasil S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A. (8)
Enel Distribución Sao
Paulo S.A.
Enel Distribución Sao
Paulo (9)
Enel Brasil S.A.
Enel Brasil S.A. (10) (11)
Enel Green Power
Argentina S.A.
Enel Green Power
Argentina S.A. (10)
Enel Green Power
Colombia SAS E.S.P
Enel Green Power
Colombia SAS E.S.P.
(10)
Enel Green Power
Peru S.A.
Enel Green Power
Peru S.A. (10)
Enel Solar S.R.L.
Enel Solar S.R.L. (10)
Enel Green Power
Panama S.A.
Enel Green Power
Panama S.A. (10)
Empresa de
Generación Eléctrica
Los Pinos S.A.
Empresa de
Generación Eléctrica
Los Pinos S.A. (10)
Jaguito Solar 10MW
S.A.
Jaguito Solar 10MW
S.A. (10)
Progreso Solar 20MW
S.A.
Progreso Solar 20MW
S.A. (10)
25,372
(7,299)
6,530
24,603
69,647
(5,801)
77,503
(17,480)
131,090
(10,918)
5,835
23
984
(234)
(3)
(222)
106,396
(23,997)
531,635
(119,906)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
63,846
60,023
120,172
5,601
20
762
82,399
411,729
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
422,410
2,252
(4,461)
(6,022)
(4,049)
(11,335)
(892)
(2)
(51)
(5,559)
(27,776)
15,281
(237)
55,335
(4,623)
76,306
2,094
24,964
-
-
-
2,838
(159)
386
772
-
-
10,263
(9,963)
20,442
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
57,824
55,974
108,837
4,709
18
711
76,840
383,953
437,691
2,015
50,712
76,306
2,094
24,964
2,679
386
772
Total
1,173,043
(234,061)
6,530
945,512
587,357
(62,944)
10,263
(9,963)
1,470,225
(*) See Note 30.b)
440
Integrated Annual Report Enel Américas 2021
According to the Group management’s estimates and projections, the expected future cash flows projections attributable to
the cash-generating units or groups of cash-generating units, to which the acquired goodwill has been allocated, allow the
recovery of its carrying amount as of December 31, 2021 (see Note 3.e).
The origin of the goodwill is detailed below:
1.- Enel Distribución Rio S.A. (formerly Ampla Energia e Serviços S.A.)
On November 20, 1996, the Company and Enel Distribución Chile S.A. (formerly named Chilectra S.A.), together with Endesa,
S.A. and Electricidad de Portugal, acquired a controlling equity interest in Cerj S.A. (now Enel Distribución Rio S.A.) of Rio de
Janeiro in Brazil. The Company and Enel Distribución Chile S.A. together acquired 42% of the total shares in an international
public bidding process held by the Brazilian government. The Company and Enel Distribución Chile S.A. also acquired an
additional 18.5% on December 31, 2000, as such, holding, directly and indirectly, a total 60.5% ownership interest.
2.- Compañía Distribuidora y Comercializadora de Energía S.A. (Codensa S.A.)
On October 23, 1997, Enel Américas S.A. and its former subsidiary Enel Distribución Chile S.A., together with Endesa, S.A.,
acquired a 48.5% equity interest in Codensa, a company that distributes electricity in Santa Fé de Bogotá in Colombia. The
acquisition took place through an international public bidding process held by the Colombian government.
3.- Enel Generación El Chocón S.A.
On August 31, 1993, Enel Generación Chile S.A. (formerly known as Endesa Chile) acquired a 59% equity interest of Enel
Generación El Chocón S.A. in an international public bidding process held by the Argentine government.
4.- Enel Distribución Perú S.A.A.
On October 15, 2009, in a transaction on the Lima Stock Exchange, the Company acquired an additional 24% interest in Enel
Distribución Perú S.A.A.
5.- EGP Cachoeira Dourada S.A.
On September 5, 1997, the Company’s former subsidiary Enel Generación Chile S.A. acquired 79% of EGP Cachoeira Dourada
S.A. in the state of Goiás in a public bidding process held by the Brazilian government.
6.- Enel Generación Perú S.A.A (formerly Edegel S.A.A. )
On October 9, 2009, in a transaction on the Lima Stock Exchange in Peru, the Company’s former subsidiary Enel Generación
Chile S.A. acquired an additional 29.3974% equity interest in Enel Generación Perú S.A.
7.- Emgesa S.A. E.S.P.
On October 23, 1997, the Company’s former subsidiary Enel Generación Chile S.A., together with Endesa, S.A., acquired a
48.5% equity interest in Emgesa S.A. E.S.P. in Colombia. The acquisition was made in an international public bidding process
held by the Colombian government.
8.- Enel Distribución Ceará S.A. (formerly Compañía Energética Do Ceará S.A.)
Between 1998 and 1999, the Company and its former subsidiary Enel Distribución Chile S.A., together with Endesa, S.A.,
acquired Compañía de Distribución Eléctrica del Estado de Ceará (now named Enel Distribución Ceará S.A.) in northeast Brazil
in an international public bidding process held by the Brazilian government.
9.- Enel Distribución Sao Paulo S.A.
On June 7, 2018, the Company’s subsidiary Enel Brasil acquired a 73.38% interest in Eletropaulo Metropolitana de Electricidade
de Sao Paulo S.A. (currently Enel Distribución Sao Paulo S.A.). Subsequently, between June 22 and July 4, 2018, additional
participation increases were effected, representing an increase from 73.38% to 95.05%.
Consolidated Financial Statements 441
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10.- EGP Central and South America
Goodwill was recognized as a result of the merger of Enel Américas and EGP Americas effective on April 1, 2021 (see Note
5). Such goodwill were assigned to the following companies: Enel Green Power Brasil Participaçoes Ltda., Enel Green Power
Argentina SA, Enel Green Power Colombia SAS Esp, Enel Green Power Peru SA, Empresa de Generación Eléctrica Los Pinos
SA, Enel Solar SRL, Enel Green Power Panamá S.A, Jaguito Solar 10MW S.A. and Progreso Solar 20MW S.A. These companies
arise from several business combinations completed in the past by Enel Green Power SpA.
11.- Enel Brasil S.A.
On November 4, 2021, Enel Green Power Brasil Participaçoes Ltda. was merged with and into Enel Brasil S.A. with the latter as
the surviving corporation.
NOTE 16. Property, plant and equipment
The following table sets forth the property, plant and equipment as of December 31, 2021 and 2020:
Classes of Property, Plant and Equipment, Gross
Property, Plant and Equipment, Gross
Construction in progress
Land
Buildings
Plant and equipment
Network Infrastructure
Fixtures and fittings
Classes of Accumulated Depreciation and Impairment in Property, Plant and Equipment
Accumulated Depreciation and Impairment of Property, Plant and Equipment
Buildings
Plant and equipment
Network Infrastructure
Fixtures and fittings
Classes of Property, Plant and Equipment, Net
Property, Plant and Equipment, Net
Construction in progress
Land
Buildings
Plant and equipment
Network Infrastructure
Fixtures and fittings
12-31-2021
ThUS$
21,570,734
2,920,093
153,913
1,203,037
9,868,826
6,846,721
578,144
12-31-2021
ThUS$
(8,573,206)
(319,228)
(4,489,844)
(3,455,646)
(308,488)
12-31-2021
ThUS$
12,997,528
2,920,093
153,913
883,809
5,378,982
3,391,075
269,656
12-31-2020
ThUS$
15,691,168
1,107,981
158,894
479,161
6,894,543
6,647,840
402,749
12-31-2020
ThUS$
(7,336,496)
(225,850)
(3,509,839)
(3,379,182)
(221,625)
12-31-2020
ThUS$
8,354,672
1,107,981
158,894
253,311
3,384,704
3,268,658
181,124
The composition and movements of the property, plant and equipment accounts for the year ended December 31, 2021 and
2020, are detailed as follows:
442
Integrated Annual Report Enel Américas 2021
Movements in 2021
Opening balance as of January 1, 2021
Increases other than from business combinations
Acquisitions through business combinations
Increases (decreases) from foreign currency translation
differences, net
Depreciation
Impairment (losses) reversals recognized in profit or
loss (1)
Increases (decreases) from transfers and other
changes
Increases (decreases) from transfers from construction
in progress
Disposals and removal from service
Removals
Argentine hyperinflationary economy
Other increases (decreases)
Total movements
Closing balance as of December 31, 2021
Construction
in Progress
ThUS$
1,107,981
1,725,928
809,849
(181,401)
(3,734)
(6,849)
Land
ThUS$
Buildings, Net
ThUS$
Plant and
Equipment,
Net
ThUS$
Network
Infrastructure,
Net
ThUS$
Fixtures and
Fittings, Net
ThUS$
Property,
Plant and
Equipment,
Net
ThUS$
158,894
253,311
3,384,704
3,268,658
181,124
8,354,672
958
5,288
(24,021)
-
499
547,110
(20,800)
(27,596)
(290)
-
2,476,336
(504,454)
(269,194)
(82,205)
-
100,051
(424,512)
34,039
13,775
(21,878)
(215,232)
(32,936)
(761,588)
8,147
135,955
221,742
373,791
21,953
(761,588)
8,147
135,955
221,742
373,791
21,953
-
-
207,559
22,348
1,812,112
2,920,093
(124)
(124)
6,350
(1,579)
(4,981)
153,913
(706)
(706)
5,694
(9,368)
630,498
883,809
(3,040)
(3,040)
124,084
31,009
1,994,278
(6,611)
(6,611)
362,337
(67,407)
122,417
(6,049)
(6,049)
19,911
59,717
5,378,982
3,391,075
269,656
12,997,528
88,532
4,642,856
1,761,424
3,952,409
(1,177,066)
(548,692)
(89,344)
-
-
(16,530)
(16,530)
725,935
34,720
Movements in 2020
Construction
in Progress
ThUS$
Land
ThUS$
Buildings, Net
ThUS$
Plant and
Equipment,
Net
ThUS$
Network
Infrastructure,
Net
ThUS$
Fixtures and
Fittings, Net
ThUS$
Property,
Plant and
Equipment,
Net ThUS$
Opening balance as of January 1, 2020
1,189,709
163,522
257,147
3,585,593
3,369,083
198,384
8,763,438
Increases other than from business combinations
Increases (decreases) from foreign currency translation
differences, net
Depreciation
Increases (decreases) from transfers and other
changes
Increases (decreases) from transfers from construction
in progress
Disposals and removals from service
Disposals
Removals
Argentine hyperinflationary economy
Other increases (decreases)
Total movements
Closing balance as of December 31, 2020
583,727
(214,324)
-
(483,505)
-
744
246
-
(11,335)
(25,179)
(282,132)
(412,848)
-
2,076
(11,198)
23,769
(207,624)
159,526
(203,165)
276,955
21,846
(38,472)
(23,264)
21,179
(483,505)
2,076
23,769
159,526
276,955
21,179
606,563
(984,290)
(445,251)
-
-
-
-
-
115,905
(83,531)
(81,728)
1,107,981
(79)
(78)
(1)
3,815
895
(4,628)
158,894
-
-
-
7,330
698
(2,961)
(2,014)
(947)
98,418
33,638
(5,035)
(9)
(5,026)
247,568
(3,900)
(3,836)
(200,889)
(100,425)
253,311
3,384,704
3,268,658
(3,916)
(11,991)
(142)
(3,774)
(1,881)
7,248
(17,260)
181,124
(2,243)
(9,748)
471,155
(44,952)
(408,766)
8,354,672
(1) See clause iv) in section c) other information, contained in this Note and Note 30.b).
Additional information on property, plant and equipment, net
a) Main Investments
The main additions to property, plant and equipment correspond to investments in operating plants, distribution networks
and new projects for ThUS$ 1,761,424 and ThUS$ 606,563 the years ended December 31, 2021 and 2020, respectively.
In the generation business, the investments in combined cycle and hydroelectric plants in the subsidiaries Enel Generación Perú
SA, Emgesa and Enel Generación Costanera, which implied additions as of December 31, 2021 for ThUS$ 167,112 (ThUS$ 163,418
as of December 31, 2020), as well as investments in non-conventional renewable energy plants, mainly in Brazil, Colombia, Panamá
and Perú for ThUS$ 1,037,325 (ThUS$ 0 as of December 31, 2020), while in distribution businesses the largest Investments that
have been made correspond to network extensions and adaptation of facilities to optimize their operation, in order to improve the
efficiency and quality of the service level, for ThUS$ 555,966 as of December 31, 2021 (ThUS$ 442,833 as of December 31, 2020).
The depreciation of property, plant and equipment are presented net of PIS and COFINS taxes in the Brazilian subsidiaries.
b) Capitalized cost
b.1) Capitalized financial expenses
The capitalized cost for financial expenses for the years ended December 31, 2021, 2020 and 2019 amounted to ThUS$ 14,153,
ThUS$ 6,376 and ThUS$ 8,092, respectively (see Note 32). The average funding rate mainly depends on the geographic area
and amounted to 3.6%, 5.91% and 7.49% as of December 31, 2021, 2020 and 2019, respectively.
Consolidated Financial Statements 443
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b.2) Capitalized personnel expenses
The capitalized cost for personnel expenses directly related to construction in progress for the years ended December 31,
2021, 2020 and 2019 amounted to ThUS$ 107,480, ThUS$ 70,681 and ThUS$ 92,411, respectively.
c) Other information
i) As of December 31, 2021, the Group had contractual commitments for the acquisition of property, plant and equipment
amounting to ThUS$ 1,256,793 (ThUS$ 1,078,846 as of December 31, 2020) (including commitments to acquire intangibles
from our Brazilian distribution subsidiaries).
ii) As of December 31, 2021, the Group had property, plant and equipment pledged as security for liabilities for ThUS$ 85,317
(ThUS$ 104,577 as of December 31, 2020 (see Note 34.1).
iii) The Company and its foreign subsidiaries have insurance policies for all risks, earthquake and machinery breakdown and
damages for business interruption with a €1,000 million (ThUS$ 1,132,650) limit, including business interruption coverage.
Additionally, the Company has Civil Liability insurance to meet claims from third parties with a €400 million (ThUS$ 453,060)
limit. The premiums associated with these policies are presented proportionally for each company under the line item “other
non-financial assets”.
iv) For Enel Generación Costanera, due to the application of IAS 29 - Financial Reporting in Hyperinflationary Economies, (see Note
2.9), the carrying amount of property, plant and equipment as of January 1, 2018 exceeded its recoverable value, which resulted in
impairment of ThUS $ 162,274 (equivalent to ThARS 3,102,739 at the exchange rate prevailing on such date). At the end of fiscal
year 2018, Enel Generación Costanera recorded a partial reversal of the aforementioned impairment of ThUS $ 70,513 (equivalent
to ThARS 2,656,082 using the exchange rate prevailing as of December 31, 2018), which was recognized in profit or loss for the
year, mainly as a result of the positive impact that the depreciation of the Argentine peso had on the company’s profit or loss,
the revenues of which is denominated in U.S. dollars. Finally, at the end of fiscal year 2021, Enel Generación Costanera recognized
an impairment loss of ThUS$ 81,902 (equivalent to MARS 8,410,221 at the closing exchange rate prevailing as of December 31,
2021), to adjust the carrying amount of Property, plant and equipment at their recoverable value.
NOTE 17. Right-of-use assets
a) Right-of-use assets
Right-of-use assets for the years ended December 31, 2021 and 2020, are detailed as follows:
Movements 2021
Opening balance as of January 1, 2021
New contracts of right-of-use
assets
Increases (decreases) from foreign
currency translation differences
Removals
Acquisitions through business
combinations
Depreciation
Argentine hyperinflationary
economy
Other increases (decreases)
Total movements
Closing balance as of December 31, 2021
Land
ThUS$
16,433
51,624
(4,597)
-
30,317
(4,001)
-
468
73,811
90,244
Buildings, Net
ThUS$
45,578
50,984
Other Plant and
equipment, Net
ThUS$
160,409
32,675
Right-of-use
assets, Net
ThUS$
222,420
135,283
(6,031)
(15,300)
(25,928)
(54)
511
(10,718)
52
383
35,127
80,705
(55)
211
(21,312)
-
376
(3,405)
157,004
(109)
31,039
(36,031)
52
1,227
105,533
327,953
444
Integrated Annual Report Enel Américas 2021
Movements 2020
Opening balance as of January 1, 2020
New contracts of right-of-use
assets
Increases (decreases) from foreign
currency translation differences
Removals
Depreciation
Other increases (decreases)
Total movements
Closing balance as of December 31, 2020
Land
ThUS$
3,023
14,080
Buildings, Net
ThUS$
66,858
551
Other Plant and
equipment, Net
ThUS$
185,918
4,546
Right-of-use
assets, Net
ThUS$
255,799
19,177
555
(10,472)
(21,080)
(30,997)
-
(1,357)
132
13,410
16,433
(75)
(11,366)
82
(21,280)
45,578
(159)
(23,768)
14,952
(25,509)
160,409
(234)
(36,491)
15,166
(33,379)
222,420
As of December 31, 2021 and 2020, the main right-of-use assets and lease liabilities are detailed as follows:
− On July 21, 2016, a lease contract was signed with Banco de Crédito del Perú. That lease is for a 5-year term at a fixed rate
of 3.68% in U.S. dollars, with quarterly amortization that began the second half of 2018. This lease was signed to finance
a compressor and a natural gas station for the “Cold Generation Reserve” Unit of the Malacas thermal power plant (TG5).
− Lease contract signed on December 16, 2015, with Scotiabank, which is for a six and a half-year term, at a fixed rate of
3.75% in U.S. dollars, with quarterly amortization that began in September 2017. This lease was signed to finance the new
TG-6 turbine for the Malacas thermal power plant (TG6).
The present value of future payments derived from those contracts is detailed as follows:
Less than one year
From one to two years
From two to three years
From three to four years
From one to five years
More than five years
Total
12-31-2021
12.31.2020
Interest
ThUS$
13,964
13,003
11,520
10,323
9,003
31,857
Present
Value
ThUS$
60,687
24,451
16,515
14,487
14,822
117,616
Gross
ThUS$
56,509
32,680
16,395
12,393
11,798
36,747
Interest
ThUS$
5,017
4,718
3,454
2,818
2,073
5,882
89,670
248,578
166,522
23,962
Gross
ThUS$
74,651
37,454
28,035
24,810
23,825
149,473
338,248
Present
Value
ThUS$
51,492
27,962
12,941
9,575
9,725
30,865
142,560
b)
Short-term and low value leases
The consolidated statement of income for the years ended December 31, 2021, 2020 and 2019 includes expenses in the
amount of ThUS$ 2,728, ThUS$ 10,641 and ThUS$ 10,341, respectively, that correspond to short-term rental payments for a
total amount of ThUS$ 1,332 in 2021, ThUS$ 3,046 in 2020 and ThUS$ 4,040 in 2019, lease of low value underlying assets in
the amount of ThUS$ 43 in 2021, ThUS$ 1,281 in 2020 and ThUS$ 226 in 2019 and amounts related to variable leases in the
amount of ThUS$ 1,353 in 2021, ThUS$ 6,314 in 2020 and ThUS$ 6,075 in 2019, which are exempt from the application of
IFRS 16 (See Note 3.f).
As of December 31, 2021, and 2020 future payments derived from those contracts are detailed as follows:
Less than one year
From one to two years
From two to three years
From three to four years
From four to five years
More than five years
Total
12-31-2021
ThUS$
12-31-2020
ThUS$
32
-
-
-
-
-
32
196
1,281
-
-
-
-
1,477
Consolidated Financial Statements 445
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NOTE 18. Income tax and deferred taxes
a) Income taxes
The components of income tax for the years ended December 31, 2021, 2020 and 2019 are detailed as follows:
Current Income Tax and Adjustments to Current Income Tax for Previous Periods
Income tax benefit (expense)
Tax benefit from tax losses, tax credits or temporary differences not previously recognized for
the current period (current tax credits and/or benefits)
Adjustments to current tax from the previous period
(Expense) / Income from current taxes related to movements in tax rates or the imposition of
new taxes
Current tax (expenses) / benefit (related to cash flow hedges)
Current tax expense, net
Benefit / (expense) from deferred taxes for origination and reversal of temporary differences
Benefit / (expense) from deferred taxes due to movements in tax rates or the introduction of
new taxes
Total deferred tax benefit / (expense)
Income tax expense
For the years ended December 31,
2021
ThUS$
2020
ThUS$
2019
ThUS$
(663,161)
(559,077)
(676,112)
11,381
8,956
7,426
7,081
(1,913)
6,440
4,250
-
18
23,419
-
845
(640,172)
(545,853)
(644,422)
(48,477)
(117,643)
(20,707)
-
415,513
(7,437)
(166,120)
(806,292)
(20,707)
408,076
(566,560)
(236,346)
The following table reconciles income taxes resulting from applying the local current tax rate to “Net income before taxes”
and the actual income tax expense recognized in the consolidated statement of comprehensive income for the years ended
December 31, 2021, 2020 and 2019:
Reconciliation of Tax Expense
ACCOUNTING INCOME BEFORE TAX
Total tax income (expense) using statutory
rate
Tax effect of rates applied in other countries
Tax effect of tax-exempt revenue and other
positive effects impacting the effective rate
Tax effect of non-deductible expenses for
determining taxable profit (loss)
Tax effect of changes in income tax rates
Tax effect of adjustments to income taxes in
previous periods
Total adjustments to tax expense using
statutory rate
Tax Rate
(27,00%)
(4,15%)
4,04%
2021
ThUS$
1,940,803
(524,017)
(80,532)
78,335
Tax Rate
(27,00%)
(4,67%)
5,41%
2020
ThUS$
1,747,812
(471,909)
(81,699)
94,578
Tax Rate
(27,00%)
(5,23%)
26,31%
2019
ThUS$
2,406,109
(649,649)
(125,912)
633,125
(8,73%)
(169,516)
(6,40%)
(111,780)
(4,57%)
(109,892)
(6,06%)
0,36%
(117,643)
7,081
-
0,24%
-
4,250
(0,31%)
0,97%
(7,437)
23,419
(14,54%)
(282,275)
(5,42%)
(94,651)
17,17%
413,303
Income tax benefit (expense)
(41,54%)
(806,292)
(32,42%)
(566,560)
(9,83%)
(236,346)
446
Integrated Annual Report Enel Américas 2021
The main temporary differences are described below:
b) Deferred taxes
The table below shows the balances of the deferred tax assets and liabilities presented in the consolidated statement of
financial position at December 31, 2021 and 2020:
Assets/(Liabilities) for Deferred Taxes
Depreciation
Amortization
Obligations for post-employment benefits
Revaluations of financial instruments
Tax loss
Provisions
Provision for Civil Contingencies
Provision Contingencies Workers
Provision for doubtful trade accounts
Provision of Human Resources accounts
Financial assets IFRIC 12
Other Provisions
Other Deferred Taxes
Amortization PPA - (Enel Distribución Goiás)
Price – Level Adjustment - Argentina
Other Deferred Taxes
December 31, 2021
December 31, 2020
Assets
ThUS$
14,577
3,540
445,962
19,328
401,677
658,884
51,734
56,349
284,991
19,674
-
246,136
284,405
-
-
Liabilities
ThUS$
(655,097)
(26,501)
(172)
(16,378)
-
(317,525)
-
-
-
-
(273,855)
(43,670)
(699,732)
(67,579)
(277,507)
Assets
ThUS$
17,717
4,161
498,424
2,274
209,339
630,331
247,400
28,467
121,764
18,724
-
213,976
197,727
-
-
284,405
(354,646)
197,727
Liabilities
ThUS$
(448,711)
(16,505)
-
(31,883)
-
(205,151)
-
-
-
-
(194,045)
(11,106)
(476,294)
(75,497)
(289,158)
(111,639)
Deferred taxes Assets/(Liabilities) before compensation
1,828,373
(1,715,405)
1,559,973
(1,178,544)
Compensation deferred taxes Assets/Liabilities
Deferred taxes Assets/(Liabilities) after compensation
(836,005)
992,368
836,005
(879,400)
(565,591)
994,382
565,591
(612,953)
The origin and changes in deferred tax assets and liabilities as of December 31, 2021 and 2020 are as follows:
Net
balance as
of January
1, 2021
ThUS$
(430,994)
(12,344)
498,424
Recognized
in profit or
loss
ThUS$
(145,375)
(468)
(19,807)
Recognized in
comprehensive
income
ThUS$
-
-
(2,751)
Movements
Acquisitions
Through
Business
Combinations
ThUS$
(42,981)
-
-
Foreign
currency
translation
difference
ThUS$
88,696
(10,149)
(30,411)
Other
increases
(decreases)
ThUS$)
Net balance
as of
December
31, 2021
ThUS$
(109,866)
(640,620)
-
335
(22,961)
445,790
(29,609)
25,499
(2,386)
8,513
(1,480)
2,413
2,950
209,339
425,180
-
191,222
(22,332)
(244)
247,400
(193,342)
28,467
30,735
121,764
186,050
18,724
2,510
(194,045)
202,870
(278,567)
(75,497)
(83,865)
35,824
(194,859)
2,923
(289,158)
16,618
86,088
381,429
(214,400)
(166,120)
-
-
-
-
-
-
-
-
-
-
-
-
-
(5,137)
32,799
(34,689)
225
-
-
-
(31,442)
(16,209)
19
(2,324)
(2,853)
(241)
(10,591)
-
-
401,677
341,359
-
51,734
56,349
(26,337)
3,514
284,991
277
(1,777)
(60)
19,674
-
(35,191)
12,385
-
-
22,991
(5,928)
31,376
4,995
(18,936)
4,891
14,338
-
(273,855)
202,466
(415,327)
(67,579)
87
(5,054)
(277,507)
12,385
(23,973)
26,294
30,381
19,392
(103,612)
(70,241)
112,968
Deferred Taxes Assets/
(Liabilities)
Depreciation
Amortization
Obligations for post-employment
benefits
Revaluations of financial
instruments
Tax loss
Provisions
Decommissioning Provision
Provision for Civil
Contingencies
Provision Contingencies
Workers
Provision for doubtful trade
accounts
Provision of Human
Resources accounts
Financial assets IFRIC 12
Other Provisions
Other Deferred Taxes
Amortization PPA - (Enel
Distribución Goiás)
Price - Level Adjustment -
Argentina
Other Deferred Taxes
Deferred Taxes Assets/
(Liabilities)
Consolidated Financial Statements 447
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Deferred Taxes Assets/
(Liabilities)
Depreciation
Amortization
Obligations for post-
employment benefits
Revaluations of financial
instruments
Tax loss
Provisions
Decommissioning Provision
Provision for Civil
Contingencies
Provision Contingencies
Workers
Provision for doubtful trade
accounts
Provision of Human
Resources accounts
Financial assets IFRIC 12
Other Deferred Taxes
Amortization PPA - (Enel
Distribución Goiás)
Price – Level Adjustment -
Argentina
Net balance as
of January 1,
2020
ThUS$
Recognized in
profit or loss
ThUS$
Recognized in
comprehensive
income
ThUS$
Acquisitions
Through
Business
Combinations
ThUS$
(482,513)
(16,055)
552,606
(8,120)
91
(93,757)
-
-
161,330
(10,415)
(26,693)
5,056
281,080
399,613
241,520
36,878
(10,184)
83,431
(1,643)
3,618
122,104
53,041
16,339
3,395
(207,425)
(34,068)
190,197
(279,936)
(105,236)
59,088
34,525
3,054
(285,210)
(4,001)
-
-
-
-
-
-
-
-
-
-
-
-
Movements
Foreign
currency
translation
difference
ThUS$
94,913
3,620
(122,045)
Other increases
(decreases)
ThUS$
Net balance as
of December
31, 2020
ThUS$
(35,274)
(430,994)
-
290
(12,344)
498,424
2,446
(3)
(29,609)
(63,849)
(88,945)
(26,933)
(7,150)
2,292
209,339
31,081
34,456
(4,879)
425,180
247,400
28,467
(44,237)
(9,144)
121,764
(1,010)
-
18,724
46,864
584
(194,045)
(56,479)
12,380
22,828
10,064
202,870
(45,536)
(278,567)
3,857
(75,497)
290
(237)
(289,158)
(10,738)
(161,480)
(49,156)
(47,150)
86,088
381,429
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Other Deferred Taxes
110,510
35,472
Deferred Taxes Assets/
(Liabilities)
444,380
(20,707)
166,386
Recovery of deferred tax assets will depend on whether sufficient taxable profits are obtained in the future. The Company’s
management believes that the future profit projections for its subsidiaries will allow these assets to be recovered.
c) As of December 31, 2021, the Group has not recognized deferred tax assets related to tax losses carried forward for ThUS$
76,652 (ThUS$ 44,296 as of December 31, 2020) (see Note 3.p).
Regarding temporary differences related to investments in subsidiaries, the Group has not recognized deferred tax liabilities
associated with undistributed profits, considering that control exercised by the Group over these entities allows it to manage
the timing of their reversal. In addition, it is likely that these temporary differences will not be reversed in the near future. As of
December 31, 2021, no deferred tax liabilities have been recognized for these taxable temporary differences, which amount
to ThUS$ 3,288,121 (ThUS$ 2,839,057 as of December 31, 2020). In addition, no deferred tax assets have been recognized
for temporary deductible differences related to investments in subsidiaries that are not expected to be reversed in the near
future, or for which there are no taxable profits available for their use. As of December 31, 2021, these temporary deductible
differences amount to ThUS$ 6,479,551 (ThUS$ 4,213,400 as of December 31, 2020).
The Group companies are potentially subject to income tax audits by the tax authorities of each country in which the Group
operates. Such tax audits are limited to a number of annual tax periods and once these have expired, audits of these periods
can no longer be performed. Tax audits by nature are often complex and can require several years to complete. The following
table presents a summary of tax years potentially subject to examination:
Country
Argentina
Brazil
Chile
Colombia
Costa Rica
Guatemala
Panama
Peru
448
Integrated Annual Report Enel Américas 2021
Period
2015 - 2021
2017 - 2021
2018 - 2021
2016 - 2021
2017 - 2021
2018 - 2021
2018 - 2021
2017 - 2021
Given the range of possible interpretations of tax standards, the results of any future inspections carried out by tax authorities
for the years subject to audit can give rise to tax liabilities that cannot currently be quantified objectively. Nevertheless, the
Company’s management estimates that the liabilities, if any, that may arise from such audits, would not significantly impact
the Group companies’ future results.
The effects of deferred taxes on the components of other comprehensive income attributable to both controlling and non-
controlling interests for the years ended December 31, 2021, 2020 and 2019, are as follows:
Effects of Income Tax on the Components of Other
Comprehensive Income
Financial assets at fair value with changes in other
comprehensive income
2021
Income
Tax
Expense
(Benefit)
ThUS$
Amount
before Tax
ThUS$
Amount
After Tax
ThUS$
Amount
before Tax
ThUS$
2020
Income
Tax
Expense
(Benefit)
ThUS$
Amount
After Tax
ThUS$
Amount
before Tax
ThUS$
2019
Income
Tax
Expense
(Benefit)
ThUS$
(9)
-
(9)
(10)
-
(10)
(598)
-
Amount
After Tax
ThUS$
(598)
Cash flow hedges
20,775
(8,826)
11,949
(12,976)
5,038
(7,938)
5,906
(2,165)
3,741
Exchange differences due to conversion
(1,193,451)
-
(1,193,451)
(2,249,915)
-
(2,249,915)
(765,005)
-
9,312
(3,023)
6,289
(476,805)
161,766
(315,039)
(576,143)
195,098
(765,005)
(381,045)
Gains (Losses) from new measurements in Defined Benefit
Plans
Income tax related to components of other income and
expenses with a charge or credit in equity
(1,163,373)
(11,849)
(1,175,222)
(2,739,706)
166,804
(2,572,902)
(1,335,840)
192,933
(1,142,907)
The effects of deferred taxes on the components of other comprehensive income interests for the years ended December
31, 2021, 2020 and 2019, are as follows:
Reconciliation of deferred tax movements between Balance Sheet and income
taxes in Comprehensive income
Total increases (decreases) for deferred taxes of other comprehensive income
Income tax of changes in cash flow hedge transactions
Deferred taxes of changes from defined benefit pension plans
For the years ended December 31,
2021
ThUS$
(5,137)
(6,440)
(272)
2020
ThUS$
166,386
(18)
436
2019
ThUS$
193,778
(845)
-
Total income tax relating to components of other comprehensive income
(11,849)
166,804
192,933
d) In Colombia, Law No. 2,155, dated September 14, 2021, increased the income tax rate to 35%, from 2022 and thereafter (32%
is the current income tax rate applied to years 2021 and 2020). The effect of temporary differences that imply the payment of
a lower or higher income tax in the current year is recognized as a deferred tax credit or debit, respectively, at the tax rates
that are in force when the temporary differences are reversed (35% in 2022), provided that there is a reasonable expectation
that such differences will be reversed in the future and, for deferred tax assets, that sufficient taxable profits will be available.
As a result of this increase in rates, the Colombian subsidiaries recognized as of December 31, 2021 variations in their deferred
tax assets and liabilities. The increase in deferred tax expense recognized in income was ThUS$ 12,668 (see Note 18.a).
e) On June 16, 2021, the Argentine government enacted and published Law No. 27,630, which amended the income tax rates for
legal entities, introducing a progressive tax regime. This new tax regime is effective for fiscal years beginning on January 1, 2021:
Net profit accumulated amount
From
ARS
-
5,000,001
50,000,001
Up to
ARS
5,000,000
50,000,000
Non-Maximum
Will pay
ARS
-
1,250,000
14,750,000
Plus the %
25%
20%
35%
Over the surplus of
ARS
-
5,000,000
50,000,000
From January 1, 2022 and thereafter, taxable income amounts in this table will be adjusted in accordance with the annual
variation of the CPI (provided by the National Institute of Statistics and Census of Argentina (“INDEC” in its Spanish acronym))
between the month of October of the year prior to that of the adjustment and the same month of the current year. The
amounts thus determined will be applicable for the fiscal years beginning after each update.
Likewise, under Law No. 27,630, the tax rate applicable to dividends on profits earned in fiscal years beginning on January 1,
2018, was established at 7%.
Law No. 27,430, with the amendments to the Public Emergency Law, established the obligation to deduct or incorporate into
the tax profit or loss an inflation adjustment calculated based on the procedure described in the Income Tax Law from the
fiscal years beginning on January 1, 2018. However, this only occurs to the extent that the accumulated CPI variation in the 36
months prior to the end of the taxable fiscal year exceeds 100%.
Consolidated Financial Statements 449
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As a result of the amendments introduced by the aforementioned Law, as of September 30, 2021, the current tax was calculated
by applying the progressive tax rates on the taxable profits determined on that date, whereas the deferred tax balances were
calculated by applying the progressive tax rate that is expected to be applicable to the estimated taxable profit for the year
when the temporary differences are reversed.
As a result of the increase in tax rates, our subsidiaries in Argentina recognized an increased tax expense of ThUS$106,888 as
of December 31, 2021, of which ThUS$104,975 corresponds to deferred taxes and ThUS$1,913 to current taxes (See Note 18.a).
f) On November 6, 2019 and after its approval at an Extraordinary Shareholder’s Meeting, Enel Distribución Sao Paulo merged
the assets and liabilities of its parent, Enel Brasil Investimentos Sudeste S.A. (“Enel Sudeste”). The merged assets include
amounts related to the concessionaire’s intangibles, as well as the recognition of the deferred tax liability on the concessionaire’s
intangibles mentioned above (see Note 6.2). Once the merger was carried out, the deferred tax obligations were reversed,
since the differences between the tax and accounting base at the time of the acquisition of Enel Distribución Sao Paulo were
equal and will be written off in the concessionaire’s future payments. As mentioned above, the company recognized a deferred
tax benefit in earnings amounting to ThUS$ 553,225 for the 2019 fiscal year.
NOTE 19. Other financial liabilities
The balance of other financial liabilities as of December 31, 2021 and 2020, is as follows:
Other Financial Liabilities
December 31, 2021
December 31, 2020
Interest-bearing borrowings
Hedging derivatives (*)
Non-hedging derivatives (**)
Total
(*) See Note 22.2.a
(**) See Note 22.2.b
Current
ThUS$
1,181,392
49,245
2,197
Non-Current
ThUS$
4,905,270
12,313
-
Current
ThUS$
1,815,160
6,730
3,240
Non-Current
ThUS$
3,837,697
9
-
1,232,834
4,917,583
1,825,130
3,837,706
a) Interest-bearing borrowings.
The detail of current and non-current interest-bearing borrowings as of December 31, 2021 and 2020 is as follows:
Classes of Interest-Bearing Borrowings
December 31, 2021
December 31, 2020
Secured bank loans
Unsecured bank loans
Unsecured bonds
Secured bonds
Other obligations
Total
Current
ThUS$
251,510
415,140
342,772
148,881
23,089
Non-Current
ThUS$
1,039,303
1,197,748
2,380,871
243,725
43,623
Current
ThUS$
235,404
927,075
409,087
154,955
88,639
1,181,392
4,905,270
1,815,160
Non-Current
ThUS$
247,150
149,057
2,864,794
395,289
181,407
3,837,697
450
Integrated Annual Report Enel Américas 2021
Bank loans by currency and contractual maturity as of December 31, 2021 and 2020 are as follows:
− Summary of bank loans by currency and maturity
Country
Currency
Effective
Interest
Rate
Nominal
Interest
Rate
Secured /
Unsecured
One to
three
months
ThUS$
Three to
twelve
months
ThUS$
Total
Current
12-31-2021
ThUS$
One to
two
years
ThUS$
Two to
three
years
ThUS$
Three to
four years
ThUS$
Four to
five years
ThUS$
More
than five
years
ThUS$
Maturity
Current
Maturity
Non-
Current
Total Non-
Current
12-31-2021
ThUS$
Chile
Chile
Peru
Peru
Peru
Brazil
Brazil
Brazil
Brazil
Brazil
Colombia
Colombia
Total
US$
CLP
US$
US$
PEN
US$
BRL
EUR
US$
BRL
COP
COP
0.38%
6.00%
1.01%
1.61%
2.31%
2.18%
9.27%
2.39%
1.93%
5.29%
0.00%
3.55%
0.38%
Unsecured
6.00%
Unsecured
5
1
-
-
5
1
-
-
-
-
-
-
-
-
-
-
-
-
1.01%
Secured
2,025
10,188
12,213
12,000
12,000
12,000
12,000
76,000
124,000
1.60%
Unsecured
2.28%
Unsecured
2.10%
9.13%
Secured
Secured
2
91
-
2
-
38,032
243,805
243,896
35,047
57,578
-
-
-
-
-
-
38,032
92,625
12,776
99,498
86,135
32,150
112,274
118,285
7,414
54,715
37,906
11,879
95,122
82,529
23,377
152,318
408,061
32,799
32,183
32,566
283,737
11,879
9,647
7,414
46,183
2.28%
Unsecured
-
7,414
1.92%
Unsecured
26,738
5.20%
Unsecured
0.00%
Secured
17
331
-
-
26,738
118,319
240,246
116,725
55,790
17
55,824
49,901
993
1,324
1,049
-
17
-
17
-
419,191
87,002
531,080
105,811
1,049
-
52
-
3.53%
Unsecured
1,968
142,513
144,481
33,760
32,096
23,770
230,009
110,565
430,200
130,089
536,561
666,650
360,499
569,653
276,871
361,173
668,855
2,237,051
Country
Currency
Effective
Interest
Rate
Nominal
Interest
Rate
Secured /
Unsecured
Maturity
One to
three
months
ThUS$
Three to
twelve
months
ThUS$
Current
Total
Current
12-31-
2020
ThUS$
Maturity
One to
two
years
ThUS$
Two to
three
years
ThUS$
Three to
four years
ThUS$
Four to
five years
ThUS$
More
than five
years
ThUS$
Chile
Chile
Peru
Peru
Brazil
Brazil
Brazil
Brazil
Colombia
Colombia
Total
US$
CLP
PEN
PEN
US$
BRL
US$
BRL
COP
COP
2.65%
6.00%
2.62%
2.75%
3.98%
5.52%
2.21%
2.20%
0.01%
3.68%
0.94%
6.00%
2.59%
2.71%
3.63%
5.41%
2.20%
2.19%
0.01%
3.62%
Unsecured
175,040
150,196
325,236
1
-
-
1
25,043
25,043
Unsecured
Unsecured
Unsecured
157
168,609
168,766
46,989
38,697
Secured
134,692
75,656
210,348
164,746
-
Secured
7,747
15,847
23,594
21,268
15,779
Unsecured
127,016
86,730
213,746
-
-
-
-
-
-
67,391
1,462
-
-
-
-
1,575
1,248
Unsecured
37,377
30,014
Secured
Unsecured
281
153
1,181
-
-
-
-
2,778
9,881
-
-
-
126,739
126,892
11,346
20,478
20,478
10,737
332
63,371
482,464
680,015
1,162,479
245,924
76,202
33,137
19,690
21,254
396,207
Non-
Current
Total Non-
Current
12-31-
2020
ThUS$
-
-
-
85,686
167,524
-
-
-
-
-
-
-
-
-
-
8,953
20,922
76,803
-
-
-
-
-
-
-
-
2,823
− Fair value measurement and hierarchy
The fair value of current and non-current bank borrowings as of December 31, 2021 was ThUS$ 2,670,119 (ThUS$ 1,552,781
as of December 31, 2020). The borrowings have been classified as Level 2 fair value measurement based on the entry data
used in the valuation techniques (see Note 3.h).
•
Consolidated Financial Statements 451
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• Identification of bank borrowings by company:
Taxpayer
ID No.
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
94.271.000-3
94.271.000-3
Foreign
Foreign
Country
Brazil
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Company
Enel Distribución
Río S.A.
Enel Distribución
Río S.A.
Enel Distribución
Río S.A.
Enel Distribución
Río S.A.
Enel Distribución
Río S.A.
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Peru S.A.
Enel Distribución
Peru S.A.
Enel Distribución
Peru S.A.
Enel Distribución
Peru S.A.
Enel Distribución
Goias S.A.
Enel Distribución
Goias S.A.
Enel Américas S.A. Chile
Enel Américas S.A. Chile
Brazil
Enel Distribución
Sao Paulo
Enel Distribución
Sao Paulo
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Peru
Peru
Peru
Peru
Country
Brazil
Currency
BRL
Effective
Interest
Rate
8.77%
Nominal
Interest
Rate
8.40%
Less than
More than
Total
One to two
Three to
Four to
More than
Total Non-
Type of
Amortization
Secured
At Maturity
90 days
ThUS$
74,277
90 days
ThUS$
—
Current
ThUS$
74,277
years
ThUS$
—
four years
five years
five years
ThUS$
ThUS$
ThUS$
Current
December 31, 2021
Non-Current
Taxpayer
ID No.
Foreign
Financial Institution
BNP PARIBAS 4131
Foreign
BNDES CAPEX 2012 FINAME
Foreign
BNP PARIBAS 4131 II
Foreign
SCOTIABANK 4131 III
Foreign
SCOTIABANK 4131 IV
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Banco BBVA COLOMBIA S.A.
Banco de Bogotá S.A.
Banco BBVA COLOMBIA S.A.
Financiera de Desarrollo Territorial S.A.
Financiera de Desarrollo Territorial S.A.
Financiera de Desarrollo Territorial S.A.
Banco Itaú CorpBanca Colombia SA
Banco Itaú CorpBanca Colombia SA
Banco Itaú CorpBanca Colombia SA
Banco Itaú CorpBanca Colombia SA
Bancolombia
Bancolombia
Scotiabank Colpatria S.A.
Bancolombia
Banco BBVA COLOMBIA S.A.
Bancolombia
BNDES CAPEX 12 FINAME
Foreign
BANCO DO Brazil (BOND D)
Foreign
BANCO DO Brazil (BOND P)
Foreign
Foreign
Foreign
BNB Contrato Nº 16.2018.204.23875 -
SEMIÁRIDO
BNB Contrato Nº 16.2018.204.23875 -
OUTRAS REGIÕES
FINEP - COELCE
Brazil
France
Canada
Canada
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Brazil
USA.
USA.
Brazil
Brazil
Brazil
Foreign
SCOTIABANK 4131 III - COELCE
Canada
Foreign
BNP 4131 II - COELCE
Foreign
BNP 4131 III - COELCE
France
France
Foreign
SCOTIABANK 4131 - COELCE IV
Canada
Foreign
Sumitomo 4131 - COELCE
Foreign
BANCO SCOTIABANK
Japan
Peru
Foreign
BANCO INTERNACIONAL DEL PERU S.A
Peru
Foreign
Banco de Credito del Peru S.A.
Foreign
SCOTIABANK PERU S.A.A
Foreign
BNDES CG 2018
Foreign
SCOTIABANK 4131 CELG
97036000-k
Foreign
Foreign
Linea sobregiro (banco santander)
Comitment Fee (BBVA NY)
FINEP - 2º Protocolo
Peru
Peru
Brazil
USA.
Chile
USA.
Brazil
Foreign
BNP 4131 II - ELETROPAULO
France
BRL
US$
US$
US$
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
BRL
US$
US$
BRL
BRL
BRL
US$
US$
US$
US$
US$
PEN
PEN
PEN
PEN
BRL
US$
CLP
US$
BRL
US$
3.40%
1.70%
1.40%
1.18%
4.73%
3.99%
3.28%
0.00%
0.00%
0.00%
2.74%
2.59%
2.65%
2.80%
2.82%
2.82%
3.64%
2.74%
5.80%
4.42%
3.39%
1.31%
6.37%
12.78%
12.78%
5.93%
1.23%
2.15%
1.56%
1.46%
2.10%
2.35%
3.75%
2.61%
3.70%
16.91%
2.39%
6.00%
0.38%
4.08%
1.71%
3.00%
Monthly
373
1,112
1,485
618
1.69%
At Maturity
14
39,290
39,304
36,970
22,182
—
838
8,190
—
279
16,380
16,380
14,742
14,742
14,742
98,280
14,742
52,826
63,882
Two to
three
years
ThUS$
—
838
—
—
—
—
—
—
—
—
93
—
—
43
—
—
—
—
—
—
1,143
1,638
23,523
50,094
25,034
17
—
—
—
—
—
—
—
—
—
—
—
—
—
837
304
501
244
1,121
281
144
257
—
—
—
—
—
—
—
370
—
—
—
—
—
—
—
—
473
78,112
283
40,207
35,047
—
32,544
215
109
2,055
847
7,391
456
601
265
1,125
3,374
863
257
50,218
61,103
457
15,690
495
248
741
3
21
131
23,619
228
10
—
3
1
5
Yes
Yes
Yes
Yes
Yes
No
No
No
Yes
Yes
Yes
No
No
No
No
No
No
No
No
No
No
Yes
Yes
Yes
Yes
Yes
No
No
No
No
No
No
No
No
No
No
Yes
Yes
No
No
Yes
No
215
109
—
209
—
114
150
66
280
842
215
64
—
—
—
—
—
—
3
21
186
—
473
131
283
228
10
—
3
1
5
—
—
2,055
638
7,391
342
451
199
845
2,532
648
193
50,218
61,103
457
15,690
495
248
555
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
1.55%
At Maturity
23,619
3.70%
At Maturity
76
42,557
42,633
16.90%
Monthly
1,817
5,226
7,043
2,903
2.38%
At Maturity
391
48,762
49,153
1.70%
At Maturity
237
237
—
44,097
576
1,817
2,393
2,474
865
1.39%
At Maturity
1.17%
At Maturity
4.67%
3.95%
3.26%
0.00%
0.00%
0.00%
2.72%
2.57%
2.63%
2.78%
2.80%
2.80%
3.61%
2.72%
5.72%
4.37%
3.00%
Biannual
Monthly
Biannual
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Quarterly
Quarterly
Quarterly
Annual
Quarterly
Quarterly
Monthly
1.17%
At Maturity
6.36%
At Maturity
5.75%
Monthly
1.22%
At Maturity
2.14%
At Maturity
1.45%
At Maturity
2.09%
At Maturity
2.33%
At Maturity
2.58%
At Maturity
3.65%
At Maturity
6.00%
0.38%
3.75%
At Maturity
Quarterly
Monthly
Current
ThUS$
—
618
—
36,970
22,182
—
2,792
40,950
304
501
244
1,214
281
144
300
—
—
98,280
58,968
52,826
63,882
370
1,143
1,638
78,112
23,523
—
40,207
50,094
25,034
—
35,047
32,544
2,903
—
—
—
3,339
44,097
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
12.77%
Monthly
1,175
3,432
4,607
4,576
4,576
4,576
4,576
6,102
24,406
12.77%
Monthly
1,043
3,093
4,136
4,123
4,123
4,123
4,123
5,498
21,990
—
17
17
17
52
120
452
Integrated Annual Report Enel Américas 2021
• Identification of bank borrowings by company:
Taxpayer
ID No.
Foreign
Company
Country
Enel Distribución
Brazil
Taxpayer
ID No.
Foreign
Financial Institution
BNP PARIBAS 4131
Foreign
Enel Distribución
Brazil
Foreign
BNDES CAPEX 2012 FINAME
Foreign
Enel Distribución
Brazil
Foreign
BNP PARIBAS 4131 II
Foreign
Enel Distribución
Brazil
Foreign
SCOTIABANK 4131 III
Foreign
Enel Distribución
Brazil
Foreign
SCOTIABANK 4131 IV
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Banco BBVA COLOMBIA S.A.
Banco de Bogotá S.A.
Banco BBVA COLOMBIA S.A.
Financiera de Desarrollo Territorial S.A.
Financiera de Desarrollo Territorial S.A.
Financiera de Desarrollo Territorial S.A.
Banco Itaú CorpBanca Colombia SA
Banco Itaú CorpBanca Colombia SA
Banco Itaú CorpBanca Colombia SA
Banco Itaú CorpBanca Colombia SA
Bancolombia
Bancolombia
Scotiabank Colpatria S.A.
Bancolombia
Banco BBVA COLOMBIA S.A.
Bancolombia
BNDES CAPEX 12 FINAME
Enel Distribución
Brazil
Foreign
Enel Distribución
Brazil
Foreign
BANCO DO Brazil (BOND D)
Foreign
Enel Distribución
Brazil
Foreign
BANCO DO Brazil (BOND P)
Foreign
Enel Distribución
Brazil
Foreign
BNB Contrato Nº 16.2018.204.23875 -
Brazil
Foreign
Enel Distribución
Brazil
Foreign
BNB Contrato Nº 16.2018.204.23875 -
Brazil
Foreign
Enel Distribución
Brazil
Foreign
FINEP - COELCE
Brazil
SEMIÁRIDO
OUTRAS REGIÕES
Foreign
Enel Distribución
Brazil
Foreign
SCOTIABANK 4131 III - COELCE
Canada
Foreign
Enel Distribución
Brazil
Foreign
BNP 4131 II - COELCE
Foreign
Enel Distribución
Brazil
Foreign
BNP 4131 III - COELCE
Foreign
Enel Distribución
Brazil
Foreign
SCOTIABANK 4131 - COELCE IV
Canada
Foreign
Enel Distribución
Brazil
Foreign
Sumitomo 4131 - COELCE
Foreign
Enel Distribución
Peru
Foreign
BANCO SCOTIABANK
Foreign
Enel Distribución
Peru
Foreign
BANCO INTERNACIONAL DEL PERU S.A
Peru
Foreign
Enel Distribución
Peru
Foreign
Banco de Credito del Peru S.A.
Foreign
Enel Distribución
Peru
Foreign
SCOTIABANK PERU S.A.A
Foreign
Enel Distribución
Brazil
Foreign
BNDES CG 2018
Foreign
Enel Distribución
Brazil
Foreign
SCOTIABANK 4131 CELG
94.271.000-3
Enel Américas S.A. Chile
97036000-k
Linea sobregiro (banco santander)
94.271.000-3
Enel Américas S.A. Chile
Foreign
Enel Distribución
Brazil
Foreign
Foreign
Comitment Fee (BBVA NY)
FINEP - 2º Protocolo
Foreign
Enel Distribución
Brazil
Foreign
BNP 4131 II - ELETROPAULO
France
Río S.A.
Río S.A.
Río S.A.
Río S.A.
Río S.A.
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Codensa
Ceará S.A.
Ceará S.A.
Ceará S.A.
Ceará S.A.
Ceará S.A.
Ceará S.A.
Ceará S.A.
Ceará S.A.
Ceará S.A.
Ceará S.A.
Ceará S.A.
Peru S.A.
Peru S.A.
Peru S.A.
Peru S.A.
Goias S.A.
Goias S.A.
Sao Paulo
Sao Paulo
Country
Brazil
Brazil
France
Canada
Canada
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Brazil
USA.
USA.
France
France
Japan
Peru
Peru
Peru
Brazil
USA.
Chile
USA.
Brazil
BRL
BRL
US$
US$
US$
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
BRL
US$
US$
BRL
BRL
BRL
US$
US$
US$
US$
US$
PEN
PEN
PEN
PEN
BRL
US$
CLP
US$
BRL
US$
3.40%
1.70%
1.40%
1.18%
4.73%
3.99%
3.28%
0.00%
0.00%
0.00%
2.74%
2.59%
2.65%
2.80%
2.82%
2.82%
3.64%
2.74%
5.80%
4.42%
3.39%
1.31%
6.37%
12.78%
12.78%
5.93%
1.23%
2.15%
1.56%
1.46%
2.10%
2.35%
3.75%
2.61%
3.70%
16.91%
2.39%
6.00%
0.38%
4.08%
1.71%
Currency
Effective
Interest
Rate
8.77%
Nominal
Interest
Rate
8.40%
Type of
Amortization
At Maturity
Secured
Yes
Less than
90 days
ThUS$
74,277
More than
90 days
ThUS$
—
Total
Current
ThUS$
74,277
One to two
years
ThUS$
—
3.00%
Monthly
1.69%
At Maturity
1.39%
At Maturity
1.17%
At Maturity
4.67%
3.95%
3.26%
0.00%
0.00%
0.00%
2.72%
2.57%
2.63%
2.78%
2.80%
2.80%
3.61%
2.72%
5.72%
4.37%
3.00%
Biannual
Monthly
Biannual
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Quarterly
Quarterly
Quarterly
Annual
Quarterly
Quarterly
Monthly
1.17%
At Maturity
6.36%
At Maturity
12.77%
Monthly
12.77%
Monthly
5.75%
Monthly
1.22%
At Maturity
2.14%
At Maturity
1.55%
At Maturity
1.45%
At Maturity
2.09%
At Maturity
2.33%
At Maturity
3.70%
At Maturity
2.58%
At Maturity
3.65%
At Maturity
16.90%
Monthly
2.38%
At Maturity
6.00%
0.38%
3.75%
At Maturity
Quarterly
Monthly
1.70%
At Maturity
Yes
Yes
Yes
Yes
No
No
No
Yes
Yes
Yes
No
No
No
No
No
No
No
No
No
No
Yes
Yes
Yes
Yes
Yes
No
No
No
No
No
No
No
No
No
No
Yes
Yes
No
No
Yes
No
Current
December 31, 2021
Non-Current
Two to
three
years
ThUS$
—
—
—
—
—
—
838
16,380
—
—
—
93
—
—
43
—
—
—
14,742
—
—
—
1,143
1,638
Three to
four years
ThUS$
—
Four to
five years
ThUS$
—
More than
five years
ThUS$
—
Total Non-
Current
ThUS$
—
—
—
36,970
22,182
—
838
8,190
—
—
—
—
—
—
—
—
—
—
14,742
—
—
—
—
—
—
—
—
—
—
279
—
—
—
—
—
—
—
—
—
—
98,280
14,742
52,826
63,882
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
618
—
36,970
22,182
—
2,792
40,950
304
501
244
1,214
281
144
300
—
—
98,280
58,968
52,826
63,882
370
1,143
1,638
373
1,112
1,485
618
14
39,290
39,304
215
109
—
209
—
114
150
66
280
842
215
64
—
—
—
—
—
—
186
3
21
—
—
2,055
638
7,391
342
451
199
845
2,532
648
193
50,218
61,103
457
15,690
495
248
555
—
—
215
109
2,055
847
7,391
456
601
265
1,125
3,374
863
257
50,218
61,103
457
15,690
495
248
741
3
21
—
—
—
—
837
16,380
304
501
244
1,121
281
144
257
—
—
—
14,742
—
—
370
—
—
1,175
3,432
4,607
4,576
4,576
4,576
4,576
6,102
24,406
1,043
3,093
4,136
4,123
4,123
4,123
4,123
5,498
21,990
—
473
131
23,619
283
228
10
—
—
—
—
—
—
—
—
17
473
78,112
131
23,619
—
—
283
40,207
228
10
—
—
—
35,047
76
42,557
42,633
—
3
—
—
—
3
—
32,544
1,817
5,226
7,043
2,903
391
48,762
49,153
—
—
—
1,817
1
5
2,393
—
—
2,474
1
5
576
237
—
237
—
44,097
17
—
23,523
—
—
50,094
25,034
—
—
—
—
—
—
865
17
17
52
120
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
78,112
23,523
—
40,207
50,094
25,034
—
35,047
32,544
2,903
—
—
—
3,339
44,097
Consolidated Financial Statements 453
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Taxpayer
ID No.
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Peru
Peru
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Country
Brazil
Company
Enel Distribución
Sao Paulo
Enel Distribución
Sao Paulo
Enel Distribución
Sao Paulo
Enel Distribución
Sao Paulo
Enel Distribución
Sao Paulo
Enel Distribución
Sao Paulo
Enel Distribución
Sao Paulo
Enel Generación
Piura S.A.
Enel Peru S.A.C.
Emgesa S.A. E.S.P. Colombia
Emgesa S.A. E.S.P. Colombia
Emgesa S.A. E.S.P. Colombia
EGP Cachoeira
Dourada S.A.
EGP Peru S.A.
Enel Generación
Peru S.A.
Enel Trading Brazil
S.A.
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Peru
Peru
Brazil
Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
Grupo EGP Brazil
Brazil
Total
Taxpayer
ID No.
Foreign
Financial Institution
BNP 4131 III - ELETROPAULO
Country
France
Currency
US$
Effective
Interest
Rate
1.96%
Nominal
Interest
Rate
1.95%
Type of
Amortization
Secured
At Maturity
90 days
ThUS$
335
Less than
More than
Total
One to two
Three to
Four to
More than
Total Non-
years
ThUS$
four years
five years
five years
ThUS$
ThUS$
ThUS$
December 31, 2021
Non-Current
Current
90 days
ThUS$
Current
ThUS$
335
Foreign
SCOTIABANK 4131 II – ELETROPAULO
Canada
Foreign
BNP 4131 IV - ELETROPAULO
France
Foreign
SCOTIABANK 4131 III – ELETROPAULO
Canada
Foreign
MUFG 4131 – ELETROPAULO
Foreign
SCOTIABANK 4131 IV
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
7ª emissão de Notas Promissórias - 3ª
série
BBVA CONTINENTAL
SCOTIABANK
BBVA
BANCOLOMBIA
BANCOLOMBIA
SCOTIABANK 4131
EUROPEAN INVESTMENT BANK
BANCO CONTINENTAL
Foreign
Banco Itaú S.A.
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Banco do Nordeste
Banco do Nordeste
Banco do Nordeste
Banco do Nordeste
Banco do Nordeste
Banco do Nordeste
Banco do Nordeste
Banco do Nordeste
Banco do Nordeste
Banco Santander (Brazil) S.A.
Bank of China LTD- Milan Branch
SOCIÉTÉ DE PROMOTION ET DE
PARTICIPATION POUR LA COOPÉRATION
ECONOMIQUE S.A.
SCOTIABANK 4131
SAN 4131 EGP- 1
CHINA 4131 EGP- 1
SAN 4131 EGP- 2
CHINA 4131 EGP- 2
Banco Nacional de Desenvol. Econômico
Social
Banco Nacional de Desenvol. Econômico
Social
Banco Nacional de Desenvol. Econômico
Social
Banco Nacional de Desenvol. Econômico
Social
Banco Nacional de Desenvol. Econômico
Social
Banco Nacional de Desenvol. Econômico
Social
Banco Nacional de Desenvol. Econômico
Social
Banco Nacional de Desenvol. Econômico
Social
Banco Nacional de Desenvol. Econômico
Social
Banco Nacional de Desenvol. Econômico
Social
Brazil
Canada
Brazil
Peru
Peru
Colombia
Colombia
Colombia
Canada
Peru
Peru
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
China
France
Canada
Spain
Italy
Spain
England
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
US$
BRL
US$
US$
US$
BRL
US$
PEN
COP
COP
COP
US$
US$
PEN
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
US$
US$
EUR
US$
US$
US$
US$
US$
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
2.30%
8.56%
2.57%
1.89%
2.31%
6.30%
1.61%
0.55%
3.50%
4.02%
4.34%
1.47%
1.01%
0.88%
0.35%
10.15%
12.00%
11.96%
12.07%
11.94%
12.03%
12.01%
15.57%
15.66%
2.20%
2.20%
2.39%
1.87%
2.12%
2.12%
2.12%
2.12%
6.59%
6.59%
7.17%
6.60%
6.91%
7.01%
4.88%
6.50%
6.32%
6.85%
155,209
155,211
2,025
10,188
46,039
12,213
46,039
12,000
12,000
12,000
12,000
76,000
124,000
Two to
three
years
ThUS$
83,785
49,885
38,747
38,032
—
—
—
—
—
—
—
—
—
—
429
626
754
637
690
623
196
516
—
—
—
—
—
—
—
—
—
—
—
—
—
55,807
31,338
391
646
735
658
617
615
170
435
3,684
4,116
11,879
3,684
4,116
11,879
—
68,964
4,217
4,389
3,044
3,926
2,053
4,216
4,388
3,044
3,926
2,053
—
39,508
55,790
77,217
—
—
—
—
—
—
—
—
—
—
—
—
—
468
649
760
661
680
623
220
599
3,684
4,116
9,647
—
4,218
4,390
3,044
3,926
2,053
—
—
—
—
—
—
—
—
—
—
—
—
—
—
507
652
778
664
678
620
251
695
3,684
4,116
7,414
—
4,218
4,389
3,044
3,926
2,053
—
—
—
—
—
—
—
—
—
—
—
—
24,570
36,855
49,140
10,803
8,577
9,226
8,735
9,574
26,062
9,381
10,294
31,886
20,396
22,640
46,183
—
29,522
30,726
21,551
27,484
16,425
Current
ThUS$
83,785
39,508
49,885
55,790
38,747
77,217
55,807
38,032
—
24,570
36,855
49,140
31,338
—
—
12,598
11,150
12,253
11,355
12,239
33,680
11,862
11,131
34,131
35,132
39,104
87,002
68,964
46,391
48,282
33,727
43,188
24,637
111
12
509
238
573
—
2
175
130
53
84
4
316
688
712
701
664
670
201
912
3,684
4,116
7,414
—
4,218
4,391
3,053
3,927
2,053
2,066
1,890
1,926
1,866
1,936
—
—
—
—
—
—
—
—
—
—
—
—
—
245
472
486
481
450
1,416
456
110
274
1,774
2,058
7,414
—
2,108
2,195
1,348
1,963
1,540
111
12
509
238
573
—
2
2
175
130
53
84
—
4
71
216
226
220
214
650
214
91
638
1,910
2,058
—
—
2,110
2,196
1,705
1,964
513
272
313
6.45%
Monthly
816
1,088
1,088
1,088
1,088
1,088
8,432
12,784
6.93%
Monthly
939
1,252
1,253
1,253
1,253
1,253
13,152
18,164
6.45%
Monthly
608
1,825
2,433
2,434
2,434
2,434
2,434
18,861
28,597
6.77%
Monthly
261
865
1,126
1,136
1,291
1,408
1,536
12,079
17,450
6.77%
Monthly
478
1,435
1,913
1,914
1,914
1,914
1,914
20,092
27,748
4.75%
Monthly
2
6
8
7
8
8
9
64
96
6.27%
Monthly
460
1,380
1,840
1,840
1,840
1,840
1,840
16,563
23,923
6.09%
Monthly
429
1,286
1,715
1,714
1,714
1,714
1,714
15,428
22,284
6.61%
Monthly
811
2,434
3,245
3,245
3,245
3,245
3,245
26,502
39,482
130,089
536,561
666,650
360,499
569,653
276,871
361,173
668,855
2,237,051
2.29%
At Maturity
8.41%
At Maturity
2.56%
At Maturity
1.88%
At Maturity
2.30%
At Maturity
6.29%
At Maturity
1.60%
At Maturity
0.35%
At Maturity
0.55%
3.50%
4.02%
4.34%
1.46%
1.01%
0.88%
10.14%
11.99%
11.95%
12.06%
11.93%
12.02%
12.00%
15.56%
15.65%
1.98%
1.98%
2.28%
1.86%
1.98%
1.98%
1.98%
1.98%
6.45%
At Maturity
At Maturity
At Maturity
At Maturity
At Maturity
Biannual
At Maturity
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Biannual
Biannual
Biannual
Biannual
Biannual
Biannual
Biannual
Biannual
Monthly
No
No
No
No
No
No
No
No
No
No
No
No
Yes
Yes
No
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
454
Integrated Annual Report Enel Américas 2021
Taxpayer
ID No.
Foreign
Company
Country
Enel Distribución
Brazil
Financial Institution
BNP 4131 III - ELETROPAULO
Country
France
Currency
Taxpayer
ID No.
Foreign
Foreign
Enel Distribución
Brazil
Foreign
SCOTIABANK 4131 II – ELETROPAULO
Canada
Foreign
Enel Distribución
Brazil
Foreign
BNP 4131 IV - ELETROPAULO
France
Foreign
Enel Distribución
Brazil
Foreign
SCOTIABANK 4131 III – ELETROPAULO
Canada
Foreign
Enel Distribución
Brazil
Foreign
MUFG 4131 – ELETROPAULO
Foreign
Enel Distribución
Brazil
Foreign
SCOTIABANK 4131 IV
Foreign
Enel Distribución
Brazil
Foreign
7ª emissão de Notas Promissórias - 3ª
Brazil
Foreign
Enel Generación
Peru
Foreign
BBVA CONTINENTAL
Sao Paulo
Sao Paulo
Sao Paulo
Sao Paulo
Sao Paulo
Sao Paulo
Sao Paulo
Piura S.A.
Brazil
Canada
Peru
Peru
Colombia
Colombia
Colombia
Canada
Peru
Peru
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
China
France
Canada
Spain
Italy
Spain
England
Foreign
Enel Trading Brazil
Brazil
Foreign
Banco Itaú S.A.
EUROPEAN INVESTMENT BANK
BANCO CONTINENTAL
Enel Peru S.A.C.
Peru
Emgesa S.A. E.S.P. Colombia
Emgesa S.A. E.S.P. Colombia
Emgesa S.A. E.S.P. Colombia
EGP Cachoeira
Brazil
Dourada S.A.
EGP Peru S.A.
Enel Generación
Peru S.A.
S.A.
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Grupo EGP Brazil
Peru
Peru
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
série
SCOTIABANK
BBVA
BANCOLOMBIA
BANCOLOMBIA
SCOTIABANK 4131
Banco do Nordeste
Banco do Nordeste
Banco do Nordeste
Banco do Nordeste
Banco do Nordeste
Banco do Nordeste
Banco do Nordeste
Banco do Nordeste
Banco do Nordeste
ECONOMIQUE S.A.
SCOTIABANK 4131
SAN 4131 EGP- 1
CHINA 4131 EGP- 1
SAN 4131 EGP- 2
CHINA 4131 EGP- 2
Banco Santander (Brazil) S.A.
Bank of China LTD- Milan Branch
SOCIÉTÉ DE PROMOTION ET DE
PARTICIPATION POUR LA COOPÉRATION
Banco Nacional de Desenvol. Econômico
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
Banco Nacional de Desenvol. Econômico
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
Banco Nacional de Desenvol. Econômico
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
Banco Nacional de Desenvol. Econômico
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
Banco Nacional de Desenvol. Econômico
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
Banco Nacional de Desenvol. Econômico
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
Banco Nacional de Desenvol. Econômico
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
Banco Nacional de Desenvol. Econômico
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
Banco Nacional de Desenvol. Econômico
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
Banco Nacional de Desenvol. Econômico
Brazil
Social
Social
Social
Social
Social
Social
Social
Social
Social
Social
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Total
US$
US$
BRL
US$
US$
US$
BRL
US$
PEN
COP
COP
COP
US$
US$
PEN
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
US$
US$
EUR
US$
US$
US$
US$
US$
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
Effective
Interest
Rate
1.96%
2.30%
8.56%
2.57%
1.89%
2.31%
6.30%
1.61%
0.55%
3.50%
4.02%
4.34%
1.47%
1.01%
0.88%
0.35%
10.15%
12.00%
11.96%
12.07%
11.94%
12.03%
12.01%
15.57%
15.66%
2.20%
2.20%
2.39%
1.87%
2.12%
2.12%
2.12%
2.12%
6.59%
6.59%
7.17%
6.60%
6.91%
7.01%
4.88%
6.50%
6.32%
6.85%
Current
December 31, 2021
Non-Current
Nominal
Interest
Rate
1.95%
Type of
Amortization
At Maturity
Secured
No
Less than
90 days
ThUS$
335
More than
90 days
ThUS$
—
Total
Current
ThUS$
335
One to two
years
ThUS$
—
Two to
three
years
ThUS$
83,785
Three to
four years
ThUS$
—
Four to
five years
ThUS$
—
More than
five years
ThUS$
—
Total Non-
Current
ThUS$
83,785
2.29%
At Maturity
8.41%
At Maturity
2.56%
At Maturity
1.88%
At Maturity
2.30%
At Maturity
6.29%
At Maturity
1.60%
At Maturity
0.55%
3.50%
4.02%
4.34%
1.46%
1.01%
0.88%
At Maturity
At Maturity
At Maturity
At Maturity
At Maturity
Biannual
At Maturity
0.35%
At Maturity
10.14%
11.99%
11.95%
12.06%
11.93%
12.02%
12.00%
15.56%
15.65%
1.98%
1.98%
2.28%
1.86%
1.98%
1.98%
1.98%
1.98%
6.45%
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Biannual
Biannual
Biannual
Biannual
Biannual
Biannual
Biannual
Biannual
Monthly
6.45%
Monthly
6.93%
Monthly
6.45%
Monthly
6.77%
Monthly
6.77%
Monthly
4.75%
Monthly
6.27%
Monthly
6.09%
Monthly
6.61%
Monthly
No
No
No
No
No
No
No
No
No
No
No
Yes
Yes
No
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
—
39,508
111
12
509
238
573
—
2
2
175
130
53
84
—
—
—
—
—
—
—
111
12
509
238
573
—
2
—
—
—
—
—
55,807
49,885
—
38,747
—
—
—
38,032
155,209
—
—
—
—
155,211
175
130
53
84
—
—
—
—
31,338
—
—
—
—
—
—
—
55,790
—
—
—
—
—
—
—
—
—
—
—
—
77,217
—
—
—
—
—
—
—
2,025
—
10,188
46,039
12,213
46,039
12,000
—
12,000
—
12,000
—
12,000
—
—
—
—
—
—
—
—
—
24,570
36,855
49,140
—
76,000
—
39,508
49,885
55,790
38,747
77,217
55,807
38,032
—
24,570
36,855
49,140
31,338
124,000
—
4
—
4
—
—
—
—
—
—
71
216
226
220
214
650
214
91
638
1,910
2,058
—
—
2,110
2,196
1,705
1,964
513
272
313
245
472
486
481
450
1,416
456
110
274
1,774
2,058
7,414
—
2,108
2,195
1,348
1,963
1,540
316
688
712
701
664
2,066
670
201
912
3,684
4,116
7,414
—
4,218
4,391
3,053
3,927
2,053
391
646
735
658
617
1,890
615
170
435
3,684
4,116
11,879
—
4,217
4,389
3,044
3,926
2,053
429
626
754
637
690
1,926
623
196
516
3,684
4,116
11,879
68,964
4,216
4,388
3,044
3,926
2,053
468
649
760
661
680
1,866
623
220
599
3,684
4,116
9,647
—
4,218
4,390
3,044
3,926
2,053
507
652
778
664
678
1,936
620
251
695
3,684
4,116
7,414
—
4,218
4,389
3,044
3,926
2,053
10,803
8,577
9,226
8,735
9,574
26,062
9,381
10,294
31,886
20,396
22,640
46,183
—
29,522
30,726
21,551
27,484
16,425
12,598
11,150
12,253
11,355
12,239
33,680
11,862
11,131
34,131
35,132
39,104
87,002
68,964
46,391
48,282
33,727
43,188
24,637
816
1,088
1,088
1,088
1,088
1,088
8,432
12,784
939
1,252
1,253
1,253
1,253
1,253
13,152
18,164
608
1,825
2,433
2,434
2,434
2,434
2,434
18,861
28,597
261
865
1,126
1,136
1,291
1,408
1,536
12,079
17,450
478
1,435
1,913
1,914
1,914
1,914
1,914
20,092
27,748
2
6
8
7
8
8
9
64
96
460
1,380
1,840
1,840
1,840
1,840
1,840
16,563
23,923
429
1,286
1,715
1,714
1,714
1,714
1,714
15,428
22,284
811
2,434
3,245
3,245
3,245
3,245
3,245
26,502
39,482
130,089
536,561
666,650
360,499
569,653
276,871
361,173
668,855
2,237,051
Consolidated Financial Statements 455
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Taxpayer
ID No.
Foreign
Foreign
Foreign
Foreign
Foreign
Company
Enel Distribución
Río S.A.
Enel Distribución
Río S.A.
Enel Distribución
Río S.A.
Enel Distribución
Río S.A.
Enel Distribución
Río S.A.
Country
Brazil
Taxpayer
ID No.
Foreign
Financial Institution
BNP PARIBAS
Brazil
Brazil
Brazil
Brazil
Foreign
BNDES
Foreign
BNP PARIBAS
Foreign
ITAÚ
Foreign
CITIBANK
Country
Currency
U.S.A
Brazil
Brazil
Brazil
Brazil
US$
BRL
US$
US$
US$
Effective
Interest
Rate
8.73%
3.01%
2.72%
4.35%
1.76%
Foreign
Codensa
Colombia
Foreign
FINDETER
Colombia
COP
0.01%
Foreign
Codensa
Colombia
Foreign
FINDETER
Colombia
COP
0.01%
Foreign
Codensa
Colombia
Foreign
FINDETER
Colombia
COP
0.01%
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
94.271.000-3
94.271.000-3
94.271.000-3
94.271.000-3
94.271.000-3
94.271.000-3
Codensa
Codensa
Codensa
Codensa
Colombia
Colombia
Colombia
Colombia
Foreign
Foreign
Foreign
Foreign
BANCO BBVA COLOMBIA S.A.
BANCO DE BOGOTÁ
BANCO BBVA COLOMBIA S.A.
MUFG BANK LTD
Colombia
Colombia
Colombia
Japan
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Perú S.A.
Enel Distribución
Perú S.A.
Enel Distribución
Perú S.A.
Enel Distribución
Goias S.A.
Enel Distribución
Goias S.A.
Enel Distribución
Goias S.A.
Enel Américas
S.A.
Enel Américas
S.A.
Enel Américas
S.A.
Enel Américas
S.A.
Enel Américas
S.A.
Enel Américas
S.A.
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Peru
Peru
Peru
Brazil
Brazil
Brazil
Chile
Chile
Chile
Chile
Chile
Chile
Foreign
BNDES
Foreign
BANCO DO BRASIL (BOND D)
Foreign
BANCO DO BRASIL (BOND P)
Foreign
BNB Nº 16.2018.204.23875
Foreign
BNB Nº 16.2018.204.23875
Foreign
SCOTIABANK
Foreign
TOKIO
Foreign
TOKIO
Foreign
SCOTIABANK
Foreign
FINEP
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Foreign
BANCO DE CREDITO DEL PERÚ S.A.
Peru
Foreign
BANCO INTERCIONAL DEL PERÚ S.A.A.
Peru
Foreign
BANCO DE CREDITO DEL PERÚ S.A.
Peru
Foreign
BNDES CG
Foreign
SCOTIABANK
Foreign
BNP
Foreign
BNP PARIBAS NY
Foreign
CITIBANK N.A
Foreign
CREDIT AGRICOLE CIB
Foreign
JPMORGAN CHASE BANK
Foreign
SUMITOMO MITSUI BANKING
Foreign
SOCIETE GENERALE
Brazil
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
COP
COP
COP
COP
COP
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
PEN
PEN
PEN
BRL
US$
US$
US$
US$
US$
US$
US$
US$
2.63%
3.00%
3.16%
5.93%
3.01%
2.33%
6.31%
6.27%
6.27%
2.22%
1.69%
1.79%
2.18%
6.48%
4.16%
3.75%
2.61%
9.61%
2.98%
2.64%
4.99%
4.99%
4.99%
4.99%
4.99%
4.99%
456
Integrated Annual Report Enel Américas 2021
996
19,482
996
9,741
332
6.26%
Monthly
2,166
3,176
4,235
4,235
4,235
4,235
9,881
26,821
2,404
3,525
4,700
4,700
4,700
4,700
10,967
29,767
Nominal
Interest
Rate
Amortization
Secured
December 31, 2020
Non-Current
Total Non-
current
ThUS$
Three to
four years
ThUS$
Four to
More than
five years
five years
ThUS$
ThUS$
1.46%
Monthly
96,923
Current
Less than
More than
90 days
ThUS$
2,641
90 days
ThUS$
—
One to
two
years
ThUS$
77,010
Two to
three
years
ThUS$
—
402
1,192
1,590
662
14
—
39,235
1,575
75,656
—
—
—
290
596
362
—
996
19,482
—
—
—
316
715
543
2,435
996
7,914
—
—
237
537
407
4,880
664
—
121,194
595
793
397
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
18
—
—
—
—
—
—
—
—
—
—
127
30,014
20,731
1,990
5,604
7,471
3,113
46,989
—
38,698
48,504
26
119
136
—
11
142
—
201
3
21
37,251
31,769
10,637
—
38
58
62
390
33,124
45,000
15,000
15,035
15,000
30,000
15,000
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
No
No
No
Yes
Yes
Yes
Yes
Yes
No
No
No
No
Yes
No
No
No
Yes
Yes
Yes
No
No
No
No
No
No
1,143
1,636
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
18
—
—
—
—
—
—
—
—
—
—
—
—
8.40%
3.00%
2.71%
4.34%
0.01%
0.01%
0.01%
2.60%
2.97%
3.12%
5.80%
3.00%
1.67%
6.30%
6.26%
2.21%
1.68%
1.78%
2.17%
5.80%
4.10%
3.70%
2.58%
9.60%
2.30%
1.84%
0.85%
0.85%
0.85%
0.85%
0.85%
0.85%
Type of
Upon
expiration
Monthly
Upon
expiration
Monthly
Upon
expiration
Upon
expiration
Upon
expiration
Biannual
Monthly
Biannual
Upon
expiration
Monthly
Upon
expiration
Upon
expiration
Monthly
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Monthly
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
18
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
74
77,010
2,252
39,235
—
—
606
1,311
905
2,435
4,316
56,619
—
1,190
1,143
1,636
—
—
—
—
128
—
46,989
38,698
10,584
48,504
—
—
—
—
—
—
—
Nominal
Interest
Rate
8.40%
Type of
Amortization
Upon
expiration
3.00%
Monthly
2.71%
Upon
expiration
4.34%
Monthly
1.46%
Monthly
0.01%
0.01%
0.01%
2.60%
2.97%
3.12%
5.80%
Upon
expiration
Upon
expiration
Upon
expiration
Biannual
Monthly
Biannual
Upon
expiration
3.00%
Monthly
1.67%
6.30%
Upon
expiration
Upon
expiration
6.26%
Monthly
6.26%
Monthly
2.21%
1.68%
1.78%
2.17%
5.80%
4.10%
3.70%
2.58%
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Foreign
Enel Distribución
Brazil
Foreign
BNDES CG
9.60%
Monthly
2.30%
1.84%
0.85%
0.85%
0.85%
0.85%
0.85%
0.85%
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Taxpayer
ID No.
Foreign
Company
Country
Enel Distribución
Brazil
Taxpayer
ID No.
Foreign
Financial Institution
BNP PARIBAS
Country
Currency
Rate
Foreign
Enel Distribución
Brazil
Foreign
BNDES
Foreign
Enel Distribución
Brazil
Foreign
BNP PARIBAS
Foreign
Enel Distribución
Brazil
Foreign
ITAÚ
Foreign
Enel Distribución
Brazil
Foreign
CITIBANK
Foreign
Colombia
Foreign
FINDETER
Colombia
COP
0.01%
Foreign
Codensa
Colombia
Foreign
FINDETER
Colombia
COP
0.01%
Foreign
Codensa
Colombia
Foreign
FINDETER
Colombia
COP
0.01%
Foreign
Foreign
Foreign
Foreign
Colombia
Colombia
Colombia
Colombia
Foreign
Foreign
Foreign
Foreign
BANCO BBVA COLOMBIA S.A.
BANCO DE BOGOTÁ
BANCO BBVA COLOMBIA S.A.
MUFG BANK LTD
Colombia
Colombia
Colombia
Japan
Foreign
Enel Distribución
Brazil
Foreign
BNDES
Foreign
Enel Distribución
Brazil
Foreign
BANCO DO BRASIL (BOND D)
Foreign
Enel Distribución
Brazil
Foreign
BANCO DO BRASIL (BOND P)
Foreign
Enel Distribución
Brazil
Foreign
BNB Nº 16.2018.204.23875
Foreign
Enel Distribución
Brazil
Foreign
BNB Nº 16.2018.204.23875
Foreign
Enel Distribución
Brazil
Foreign
SCOTIABANK
Foreign
Enel Distribución
Brazil
Foreign
TOKIO
Foreign
Enel Distribución
Brazil
Foreign
TOKIO
Foreign
Enel Distribución
Brazil
Foreign
SCOTIABANK
Foreign
Enel Distribución
Brazil
Foreign
FINEP
Foreign
Enel Distribución
Peru
Foreign
BANCO DE CREDITO DEL PERÚ S.A.
Peru
Foreign
Enel Distribución
Peru
Foreign
BANCO INTERCIONAL DEL PERÚ S.A.A.
Peru
Foreign
Enel Distribución
Peru
Foreign
BANCO DE CREDITO DEL PERÚ S.A.
Peru
Foreign
Enel Distribución
Brazil
Foreign
SCOTIABANK
Foreign
Enel Distribución
Brazil
Foreign
BNP
94.271.000-3
Enel Américas
Chile
Foreign
BNP PARIBAS NY
94.271.000-3
Enel Américas
Chile
Foreign
CITIBANK N.A
94.271.000-3
Enel Américas
Chile
Foreign
CREDIT AGRICOLE CIB
94.271.000-3
Enel Américas
Chile
Foreign
JPMORGAN CHASE BANK
94.271.000-3
Enel Américas
Chile
Foreign
SUMITOMO MITSUI BANKING
94.271.000-3
Enel Américas
Chile
Foreign
SOCIETE GENERALE
Effective
Interest
8.73%
3.01%
2.72%
4.35%
1.76%
2.63%
3.00%
3.16%
5.93%
3.01%
2.33%
6.31%
6.27%
6.27%
2.22%
1.69%
1.79%
2.18%
6.48%
4.16%
3.75%
2.61%
9.61%
2.98%
2.64%
4.99%
4.99%
4.99%
4.99%
4.99%
4.99%
US$
BRL
US$
US$
US$
COP
COP
COP
COP
COP
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
PEN
PEN
PEN
BRL
US$
US$
US$
US$
US$
US$
US$
US$
U.S.A
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
Río S.A.
Río S.A.
Río S.A.
Río S.A.
Río S.A.
Codensa
Codensa
Codensa
Codensa
Codensa
Ceará S.A.
Ceará S.A.
Ceará S.A.
Ceará S.A.
Ceará S.A.
Ceará S.A.
Ceará S.A.
Ceará S.A.
Ceará S.A.
Ceará S.A.
Perú S.A.
Perú S.A.
Perú S.A.
Goias S.A.
Goias S.A.
Goias S.A.
S.A.
S.A.
S.A.
S.A.
S.A.
S.A.
Secured
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
No
No
No
Yes
Yes
Yes
Yes
Yes
No
No
No
No
Yes
No
No
No
Yes
Yes
Yes
No
No
No
No
No
No
Current
Less than
90 days
ThUS$
2,641
More than
90 days
ThUS$
—
One to
two
years
ThUS$
77,010
Two to
three
years
ThUS$
—
402
1,192
1,590
662
14
—
39,235
1,575
75,656
—
—
—
290
596
362
—
996
19,482
—
—
—
316
715
543
2,435
996
7,914
—
595
793
397
—
—
—
—
—
—
—
237
537
407
4,880
664
—
121,194
96,923
26
119
136
—
11
142
—
201
3
21
December 31, 2020
Three to
four years
ThUS$
Four to
five years
ThUS$
More than
five years
ThUS$
Non-Current
Total Non-
current
ThUS$
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
996
19,482
996
9,741
—
—
1,143
1,636
—
—
—
—
—
—
—
—
—
—
—
—
—
332
—
—
—
—
—
77,010
2,252
39,235
—
—
606
1,311
905
2,435
4,316
56,619
—
1,190
1,143
1,636
2,404
3,525
4,700
4,700
4,700
4,700
10,967
29,767
2,166
3,176
4,235
4,235
4,235
4,235
9,881
26,821
37,251
31,769
10,637
—
—
—
127
30,014
—
38
58
62
—
20,731
—
—
—
—
—
—
—
—
46,989
—
—
—
—
18
—
—
—
38,698
1,990
5,604
7,471
3,113
390
33,124
45,000
15,000
15,035
15,000
30,000
15,000
—
—
—
—
—
—
—
—
—
48,504
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
18
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
18
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
74
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
128
—
46,989
38,698
10,584
—
48,504
—
—
—
—
—
—
Consolidated Financial Statements 457
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Taxpayer
ID No.
94.271.000-3
94.271.000-3
94.271.000-3
94.271.000-3
94.271.000-3
94.271.000-3
94.271.000-3
94.271.000-3
94.271.000-3
94.271.000-3
94.271.000-3
94.271.000-3
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Total
Company
Enel Américas
S.A.
Enel Américas
S.A.
Enel Américas
S.A.
Enel Américas
S.A.
Enel Américas
S.A.
Enel Américas
S.A.
Enel Américas
S.A.
Enel Américas
S.A.
Enel Américas
S.A.
Enel Américas
S.A.
Enel Américas
S.A.
Enel Américas
S.A.
Enel Distribución
Sao Paulo
Enel Distribución
Sao Paulo
Enel Distribución
Sao Paulo
Enel Distribución
Sao Paulo
Enel Generación
Piura S.A
Country
Chile
Taxpayer
ID No.
Foreign
Financial Institution
BBVA NEW YORK BRANCH
Chile
Chile
Chile
Chile
Chile
Chile
Chile
Chile
Chile
Chile
Chile
Brazil
Brazil
Brazil
Brazil
Peru
Foreign
BBVA S.A NEW YORK BRANCH
Foreign
CREDIT AGRICOLE CIB
Foreign
THE BANK OF NOVA SCOTIA
Foreign
BNP PARIBAS NY
Foreign
CITIBANK N.A
Foreign
CREDIT AGRICOLE CIB
Foreign
JPMORGAN CHASE BANK
Foreign
SUMITOMO MITSUI BANKING
Foreign
SOCIETE GENERALE
Foreign
BBVA NEW YORK BRANCH
97036000-k
LINEA SOBREGIRO (BANCO
SANTANDER)
Foreign
FINEP - 2º PROTOCOLO
Foreign
TOKIO
Foreign
SCOTIABANK
Foreign
BNP
Foreign
SCOTIABANK
Enel Perú S.A.C
Peru
Foreign
BBVA
Country
Currency
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
Chile
Brazil
Brazil
Brazil
Brazil
Peru
Peru
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
CLP
BRL
BRL
BRL
US$
US$
PEN
Effective
Interest
Rate
4.99%
1.38%
1.38%
1.38%
0.84%
0.84%
0.84%
0.84%
0.84%
0.84%
0.84%
6.00%
3.96%
1.79%
2.15%
3.61%
2.62%
0.48%
Nominal
Interest
Rate
Amortization
Secured
Less than
More than
One to
two
years
ThUS$
Two to
three
years
ThUS$
Three to
four years
ThUS$
Four to
More than
five years
five years
ThUS$
ThUS$
December 31, 2020
Non-Current
Total Non-
current
ThUS$
Type of
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Monthly
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Biannual
0.85%
1.38%
1.38%
1.38%
0.84%
0.84%
0.84%
0.84%
0.84%
0.84%
0.84%
6.00%
3.95%
1.78%
2.14%
3.60%
2.59%
0.48%
Current
90 days
ThUS$
15,000
—
—
—
7,500
2,500
2,504
2,500
5,000
2,500
2,500
1
32,668
51,421
90 days
ThUS$
—
50,196
50,000
50,000
—
—
—
—
—
—
—
—
—
—
521
86,730
—
—
25,043
147,879
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
Yes
584
1,755
2,478
2,653
927
6,058
482,464
680,015
245,924
76,202
33,137
19,690
21,254
396,207
458
Integrated Annual Report Enel Américas 2021
Taxpayer
ID No.
Company
Country
94.271.000-3
Enel Américas
Chile
Taxpayer
ID No.
Foreign
Financial Institution
BBVA NEW YORK BRANCH
94.271.000-3
Enel Américas
Chile
Foreign
BBVA S.A NEW YORK BRANCH
94.271.000-3
Enel Américas
Chile
Foreign
CREDIT AGRICOLE CIB
94.271.000-3
Enel Américas
Chile
Foreign
THE BANK OF NOVA SCOTIA
94.271.000-3
Enel Américas
Chile
Foreign
BNP PARIBAS NY
94.271.000-3
Enel Américas
Chile
Foreign
CITIBANK N.A
94.271.000-3
Enel Américas
Chile
Foreign
CREDIT AGRICOLE CIB
94.271.000-3
Enel Américas
Chile
Foreign
JPMORGAN CHASE BANK
94.271.000-3
Enel Américas
Chile
Foreign
SUMITOMO MITSUI BANKING
94.271.000-3
Enel Américas
Chile
Foreign
SOCIETE GENERALE
94.271.000-3
Enel Américas
Chile
Foreign
BBVA NEW YORK BRANCH
94.271.000-3
Enel Américas
Chile
97036000-k
LINEA SOBREGIRO (BANCO
SANTANDER)
S.A.
S.A.
S.A.
S.A.
S.A.
S.A.
S.A.
S.A.
S.A.
S.A.
S.A.
S.A.
Foreign
Enel Distribución
Brazil
Foreign
TOKIO
Foreign
Enel Distribución
Brazil
Foreign
SCOTIABANK
Foreign
Enel Distribución
Brazil
Foreign
BNP
Foreign
Enel Generación
Peru
Foreign
SCOTIABANK
Sao Paulo
Sao Paulo
Sao Paulo
Sao Paulo
Piura S.A
Foreign
Total
Enel Perú S.A.C
Peru
Foreign
BBVA
Country
Currency
Rate
Effective
Interest
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
U.S.A
Chile
Brazil
Brazil
Brazil
Brazil
Peru
Peru
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
CLP
BRL
BRL
BRL
US$
US$
PEN
4.99%
1.38%
1.38%
1.38%
0.84%
0.84%
0.84%
0.84%
0.84%
0.84%
0.84%
6.00%
3.96%
1.79%
2.15%
3.61%
2.62%
0.48%
December 31, 2020
One to
two
years
ThUS$
Two to
three
years
ThUS$
Three to
four years
ThUS$
Four to
five years
ThUS$
More than
five years
ThUS$
Non-Current
Total Non-
current
ThUS$
Nominal
Interest
Rate
0.85%
1.38%
1.38%
1.38%
0.84%
0.84%
0.84%
0.84%
0.84%
0.84%
0.84%
6.00%
Type of
Amortization
Secured
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
No
No
No
No
No
No
No
No
No
No
No
No
Current
Less than
90 days
ThUS$
15,000
More than
90 days
ThUS$
—
—
—
—
7,500
2,500
2,504
2,500
5,000
2,500
2,500
1
50,196
50,000
50,000
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
6,058
—
—
—
—
—
Foreign
Enel Distribución
Brazil
Foreign
FINEP - 2º PROTOCOLO
3.95%
Monthly
Yes
584
1,755
2,478
2,653
927
1.78%
2.14%
3.60%
2.59%
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
0.48%
Biannual
No
No
No
No
No
32,668
51,421
—
—
521
86,730
—
—
25,043
147,879
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
482,464
680,015
245,924
76,202
33,137
19,690
21,254
396,207
Consolidated Financial Statements 459
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
b) Unsecured bonds
The detail of unsecured bonds by currency and maturity as of December 31, 2021 and 2020 is as follows:
Summary of Unsecured bonds by currency and maturity
Country
Currency
Chile
Chile
Peru
Peru
Brazil
Colombia
Total
US$
UF
US$
PEN
BRL
COP
Country
Currency
Chile
Chile
Peru
Peru
Brazil
Colombia
Total
US$
UF
US$
PEN
BRL
COP
Nominal
Interest
Rate
5,30%
5,75%
6,34%
6,02%
10,39%
8,24%
Nominal
Interest
Rate
5,30%
5,75%
6,34%
6,24%
6,24%
5,74%
Secured /
Unsecured
Unsecured
Unsecured
Unsecured
Unsecured
Unsecured
Unsecured
Secured /
Unsecured
Unsecured
Unsecured
Unsecured
Unsecured
Unsecured
Unsecured
Current
Maturity
One to three
months
ThUS$
Three to
twelve months
ThUS$
Total Current
12-31-2021
ThUS$
-
-
-
3,198
41,089
11,659
55,946
4,405
3,305
275
30,223
34,877
213,741
286,826
4,405
3,305
275
33,421
75,966
225,400
342,772
Current
Maturity
One to three
months
ThUS$
Three to
twelve months
ThUS$
Total Current
12-31-2020
ThUS$
-
-
-
3,531
5,425
245,073
254,029
4,405
7,103
275
29,344
33,691
80,240
155,058
4,405
7,103
275
32,875
39,116
325,313
409,087
One to two
Two to three
Non-Current
Maturity
Three to
four years
ThUS$
-
-
-
35,047
85,741
185,806
306,594
Three to
four years
ThUS$
-
-
-
42,126
361,796
202,170
606,092
Non-Current
Maturity
years
ThUS$
-
-
-
38,153
174,791
169,988
382,932
Two to three
-
-
-
44,225
62,493
223,554
330,272
years
ThUS$
-
-
-
40,054
58,317
187,978
286,349
One to two
years
ThUS$
3,611
-
-
31,787
67,383
254,173
356,954
Four to
five years
ThUS$
590,081
-
-
-
25,034
159,548
774,663
Four to
five years
ThUS$
-
-
-
38,697
92,308
220,981
351,986
More than
five years
ThUS$
-
-
10,008
148,575
232,860
238,890
630,333
More than
five years
ThUS$
588,112
-
10,017
161,837
175,405
284,119
1,219,490
Total Non-
Current
12-31-2021
ThUS$
590,081
-
10,008
286,863
711,257
782,662
2,380,871
Total Non-
Current
12-31-2020
ThUS$
588,112
3,611
10,017
318,672
759,385
1,184,997
2,864,794
460
Integrated Annual Report Enel Américas 2021
b) Unsecured bonds
The detail of unsecured bonds by currency and maturity as of December 31, 2021 and 2020 is as follows:
Summary of Unsecured bonds by currency and maturity
Country
Currency
Chile
Chile
Peru
Peru
Brazil
Colombia
Total
US$
UF
US$
PEN
BRL
COP
Country
Currency
Chile
Chile
Peru
Peru
Brazil
Colombia
Total
US$
UF
US$
PEN
BRL
COP
Current
Maturity
Three to
twelve months
Total Current
12-31-2021
Nominal
Interest
Rate
5,30%
5,75%
6,34%
6,02%
10,39%
8,24%
Nominal
Interest
Rate
5,30%
5,75%
6,34%
6,24%
6,24%
5,74%
Secured /
Unsecured
Unsecured
Unsecured
Unsecured
Unsecured
Unsecured
Unsecured
Secured /
Unsecured
Unsecured
Unsecured
Unsecured
Unsecured
Unsecured
Unsecured
One to three
months
ThUS$
-
-
-
3,198
41,089
11,659
55,946
-
-
-
3,531
5,425
245,073
254,029
Current
Maturity
One to three
months
ThUS$
Three to
twelve months
Total Current
12-31-2020
ThUS$
ThUS$
4,405
3,305
275
30,223
34,877
213,741
286,826
ThUS$
4,405
7,103
275
29,344
33,691
80,240
155,058
ThUS$
4,405
3,305
275
33,421
75,966
225,400
342,772
4,405
7,103
275
32,875
39,116
325,313
409,087
Non-Current
Maturity
Three to
four years
ThUS$
-
-
-
35,047
85,741
185,806
306,594
Non-Current
Maturity
Three to
four years
ThUS$
-
-
-
42,126
361,796
202,170
606,092
Two to three
years
ThUS$
-
-
-
38,153
174,791
169,988
382,932
Two to three
-
-
-
44,225
62,493
223,554
330,272
One to two
years
ThUS$
-
-
-
40,054
58,317
187,978
286,349
One to two
years
ThUS$
-
3,611
-
31,787
67,383
254,173
356,954
Four to
five years
ThUS$
590,081
-
-
25,034
159,548
-
774,663
Four to
five years
ThUS$
-
-
-
38,697
92,308
220,981
351,986
More than
five years
ThUS$
-
-
10,008
148,575
232,860
238,890
630,333
More than
five years
ThUS$
588,112
-
10,017
161,837
175,405
284,119
1,219,490
Total Non-
Current
12-31-2021
ThUS$
590,081
-
10,008
286,863
711,257
782,662
2,380,871
Total Non-
Current
12-31-2020
ThUS$
588,112
3,611
10,017
318,672
759,385
1,184,997
2,864,794
Consolidated Financial Statements 461
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Unsecured bonds by company
Taxpayer
ID No.
Foreign
Company
Codensa
Country
Colombia
Taxpayer
ID No.
Foreign
Name
Bonos B12-13
Foreign
Codensa
Colombia
Foreign
Bonos E5-17
Foreign
Codensa
Colombia
Foreign
Bonos E7-17
Foreign
Codensa
Colombia
Foreign
Bonos E7-18
Country
Colombia
Colombia
Colombia
Colombia
Foreign
Codensa
Colombia
Foreign
Bonos B12-18
Colombia
Foreign
Codensa
Colombia
Foreign
Bonos B5-18
Foreign
Codensa
Colombia
Foreign
Bonos E4-19
Colombia
Colombia
Foreign
Codensa
Colombia
Foreign
Bonos B10-19
Colombia
Foreign
Codensa
Colombia
Foreign
Bonos E4-2020
Colombia
Foreign
Codensa
Colombia
Foreign
Bonos B7-2020
Colombia
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Enel
Distribución
Ceará S.A.
Enel
Distribución
Ceará S.A.
Enel
Distribución
Ceará S.A.
Enel
Distribución
Ceará S.A.
Enel
Distribución
Ceará S.A.
Enel
Distribución
Ceará S.A.
Enel
Generación
Peru S.A.
Enel
Generación
Peru S.A.
Enel
Distribución
Peru S.A.
Enel
Distribución
Peru S.A.
Enel
Distribución
Peru S.A.
Enel
Distribución
Peru S.A.
Enel
Distribución
Peru S.A.
Enel
Distribución
Peru S.A.
Enel
Distribución
Peru S.A.
Enel
Distribución
Peru S.A.
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Brazil
Foreign
Brazil
Foreign
Brazil
Foreign
Brazil
Foreign
Brazil
Foreign
Brazil
Foreign
Foreign
Foreign
Foreign
Foreign
DEBÊNTURES 5ª EMISSÃO
- 1 SÉRIE (CEAR15)
Brazil
DEBÊNTURES 5ª EMISSÃO
- 2 SÉRIE (CEAR25)
Brazil
DEBÊNTURES 6ª EMISSÃO
- 1 SÉRIE (CEAR16)
Brazil
DEBÊNTURES 6ª EMISSÃO
- 2 SÉRIE (CEAR26)
Brazil
DEBÊNTURES 7ª EMISSÃO
- 1 SÉRIE (COCE17)
Brazil
DEBÊNTURES 7ª EMISSÃO
- 1 SÉRIE (COCE27)
Brazil
BBVA Terc Prog 8va
Emision Serie A
BBVA Terc Prog 1ra
Emision Serie A
Interseguro Cia de
Seguros
Rimac Internacional Cia
de Seguros
Peru
Peru
Peru
Peru
Foreign
FCR - Macrofondo
Peru
Foreign
Foreign
Foreign
Foreign
Foreign
Rimac Internacional Cia
de Seguros
Rimac Internacional Cia
de Seguros
Rimac Internacional Cia
de Seguros
Rimac Internacional Cia
de Seguros
Rimac Internacional Cia
de Seguros
Peru
Peru
Peru
Peru
Peru
462
Integrated Annual Report Enel Américas 2021
Currency
COP
Effective
Interest
Rate
10.31%
COP
COP
COP
COP
COP
COP
COP
COP
COP
BRL
BRL
BRL
BRL
BRL
BRL
US$
PEN
PEN
PEN
PEN
PEN
PEN
PEN
PEN
PEN
7.39%
6.46%
6.74%
9.04%
8.23%
6.30%
9.01%
4.70%
7.84%
5.29%
17.44%
5.44%
17.65%
4.97%
15.79%
6.44%
6.41%
6.38%
6.15%
5.64%
5.06%
5.19%
7.41%
7.51%
6.44%
Less
than
90 days
ThUS$
604
Current
More
than
90 days
ThUS$
—
Total
Current
ThUS$
604
3,976
66,339
70,315
December 31, 2021
Non-Current
One to
two
years
ThUS$
Two to
three
years
ThUS$
Three to
four years
ThUS$
47,504
More
than
Four to
five years
five years
ThUS$
ThUS$
Total Non-
Current
ThUS$
47,504
49,140
49,140
203
725
772
732
291
286
472
47,912
288
68,796
61,425
39,312
39,312
49,140
49,140
—
61,425
61,425
61,425
—
31,448
31,448
17.43%
Annual
93
19,967
13,352
5.43%
At
Maturity
33
7,181
—
17.64%
Annual
170
170
—
34,609
24,096
4.96%
Annual
32,623
—
32,623
31,169
—
15.78%
At
2,298
—
2,298
—
63,993
—
—
—
—
—
—
—
—
—
—
—
Nominal
Interest
Rate Maturity
9.94%
7.39%
6.31%
6.58%
8.75%
7.99%
6.16%
8.72%
4.62%
7.62%
5.28%
At
At
At
At
At
At
At
At
At
At
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Annual
6.34%
6.31%
6.28%
6.06%
5.56%
5.00%
5.13%
7.28%
7.38%
6.34%
Maturity
Maturity
At
At
At
At
At
At
At
At
At
At
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
203
725
772
732
288
291
286
472
93
33
—
—
278
230
—
—
11
6,258
6,269
10,150
10,150
108
108
248
12,517
12,765
—
—
278
230
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
49,140
49,140
47,912
68,796
—
33,319
7,181
58,705
31,169
63,993
—
—
—
12,517
12,517
12,517
12,517
8,887
8,887
126
126
—
15,020
15,020
50
50
15,020
—
—
15,020
—
75
75
10,013
10,013
—
275
275
—
10,008
10,008
Currency
Effective
Interest
Rate
10.31%
Country
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Taxpayer
ID No.
Foreign
Company
Codensa
Country
Colombia
Taxpayer
ID No.
Foreign
Name
Bonos B12-13
Foreign
Codensa
Colombia
Foreign
Bonos E5-17
Foreign
Codensa
Colombia
Foreign
Bonos E7-17
Foreign
Codensa
Colombia
Foreign
Bonos E7-18
Foreign
Codensa
Colombia
Foreign
Bonos B12-18
Colombia
Foreign
Codensa
Colombia
Foreign
Bonos B5-18
Foreign
Codensa
Colombia
Foreign
Bonos E4-19
Foreign
Codensa
Colombia
Foreign
Bonos B10-19
Colombia
Foreign
Codensa
Colombia
Foreign
Bonos E4-2020
Colombia
Foreign
Codensa
Colombia
Foreign
Bonos B7-2020
Colombia
Foreign
Enel
Brazil
Foreign
DEBÊNTURES 5ª EMISSÃO
Brazil
Foreign
Enel
Brazil
Foreign
DEBÊNTURES 5ª EMISSÃO
Brazil
Foreign
Enel
Brazil
Foreign
DEBÊNTURES 6ª EMISSÃO
Brazil
Foreign
Enel
Brazil
Foreign
DEBÊNTURES 6ª EMISSÃO
Brazil
- 1 SÉRIE (CEAR15)
- 2 SÉRIE (CEAR25)
- 1 SÉRIE (CEAR16)
- 2 SÉRIE (CEAR26)
- 1 SÉRIE (COCE17)
- 1 SÉRIE (COCE27)
Foreign
Enel
Brazil
Foreign
DEBÊNTURES 7ª EMISSÃO
Brazil
Foreign
Foreign
Foreign
BBVA Terc Prog 8va
Peru
Emision Serie A
Foreign
BBVA Terc Prog 1ra
Emision Serie A
Peru
Foreign
Enel
Foreign
Interseguro Cia de
Peru
Foreign
Enel
Foreign
Rimac Internacional Cia
Peru
Foreign
Enel
Foreign
FCR - Macrofondo
Peru
Foreign
Enel
Foreign
Rimac Internacional Cia
Peru
Foreign
Enel
Foreign
Rimac Internacional Cia
Peru
Foreign
Enel
Foreign
Rimac Internacional Cia
Peru
Foreign
Enel
Foreign
Rimac Internacional Cia
Peru
Foreign
Enel
Foreign
Rimac Internacional Cia
Peru
Seguros
de Seguros
de Seguros
de Seguros
de Seguros
de Seguros
de Seguros
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Distribución
Ceará S.A.
Distribución
Ceará S.A.
Distribución
Ceará S.A.
Distribución
Ceará S.A.
Distribución
Ceará S.A.
Distribución
Ceará S.A.
Enel
Generación
Peru S.A.
Enel
Generación
Peru S.A.
Distribución
Peru S.A.
Distribución
Peru S.A.
Distribución
Peru S.A.
Distribución
Peru S.A.
Distribución
Peru S.A.
Distribución
Peru S.A.
Distribución
Peru S.A.
Distribución
Peru S.A.
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
BRL
BRL
BRL
BRL
BRL
BRL
US$
PEN
PEN
PEN
PEN
PEN
PEN
PEN
PEN
PEN
7.39%
6.46%
6.74%
9.04%
8.23%
6.30%
9.01%
4.70%
7.84%
5.29%
17.44%
5.44%
17.65%
4.97%
15.79%
6.44%
6.41%
6.38%
6.15%
5.64%
5.06%
5.19%
7.41%
7.51%
6.44%
Foreign
Enel
Brazil
Foreign
DEBÊNTURES 7ª EMISSÃO
Brazil
4.96%
Annual
32,623
—
32,623
31,169
—
December 31, 2021
Non-Current
Three to
four years
ThUS$
47,504
Four to
five years
ThUS$
—
More
than
five years
ThUS$
—
Total Non-
Current
ThUS$
47,504
One to
two
years
ThUS$
—
—
—
—
—
47,912
288
68,796
Nominal
Interest
9.94%
6.58%
8.75%
7.99%
7.39%
6.31%
Rate Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
Annual
6.16%
8.72%
4.62%
7.62%
5.28%
Less
than
90 days
ThUS$
604
Current
More
than
90 days
ThUS$
—
Total
Current
ThUS$
604
3,976
66,339
70,315
203
725
772
732
288
291
286
472
—
—
—
—
—
—
—
—
203
725
772
732
291
286
472
—
31,448
31,448
Two to
three
years
ThUS$
—
—
49,140
—
—
—
—
—
61,425
—
—
17.43%
Annual
5.43%
At
Maturity
93
33
17.64%
Annual
170
—
—
—
93
19,967
13,352
33
7,181
—
170
—
34,609
24,096
15.78%
6.34%
6.31%
6.28%
6.06%
5.56%
5.00%
5.13%
7.28%
7.38%
6.34%
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
2,298
—
2,298
—
63,993
—
275
275
11
6,258
6,269
—
—
10,150
10,150
108
108
248
12,517
12,765
—
75
75
—
—
278
230
126
126
278
230
—
—
50
50
15,020
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
49,140
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
10,013
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
49,140
49,140
39,312
39,312
—
—
47,912
68,796
49,140
49,140
—
61,425
61,425
61,425
—
—
—
—
—
—
—
33,319
7,181
58,705
31,169
63,993
—
10,008
10,008
—
—
—
—
—
—
—
—
—
—
—
12,517
12,517
—
—
—
10,013
12,517
12,517
8,887
8,887
—
15,020
15,020
—
—
15,020
Consolidated Financial Statements 463
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Country
Peru
Taxpayer
ID No.
Foreign
Country
Peru
Currency
PEN
Effective
Interest
Rate
6.44%
Nominal
Interest
6.34%
Rate Maturity
Current
More
than
90 days
ThUS$
Less
than
90 days
ThUS$
363
December 31, 2021
Non-Current
One to
two
years
ThUS$
Two to
three
years
ThUS$
20,027
Three to
four years
ThUS$
Four to
ThUS$
—
five years
five years
More
than
ThUS$
—
Total Non-
Current
ThUS$
20,027
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Chile
Chile
Chile
Brazil
Taxpayer
ID No.
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
94.271.00-3
94.271.00-3
94.271.00-3
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Company
Enel
Distribución
Peru S.A.
Enel
Distribución
Peru S.A.
Enel
Distribución
Peru S.A.
Enel
Distribución
Peru S.A.
Enel
Distribución
Peru S.A.
Enel
Distribución
Peru S.A.
Enel
Distribución
Peru S.A.
Enel
Distribución
Peru S.A.
Enel
Distribución
Peru S.A.
Emgesa S.A.
E.S.P.
Emgesa S.A.
E.S.P.
Emgesa S.A.
E.S.P.
Emgesa S.A.
E.S.P.
Emgesa S.A.
E.S.P.
Emgesa S.A.
E.S.P.
Emgesa S.A.
E.S.P.
Emgesa S.A.
E.S.P.
Enel Américas
S.A.
Enel Américas
S.A.
Enel Américas
S.A.
Enel
Distribución
Sao Paulo
Enel
Distribución
Sao Paulo
Enel
Distribución
Sao Paulo
Enel
Distribución
Sao Paulo
Enel
Distribución
Sao Paulo
Enel
Distribución
Sao Paulo
Name
Rimac Internacional Cia
de Seguros
Rimac Internacional Cia
de Seguros
Rimac Internacional Cia
de Seguros
Rimac Internacional Cia
de Seguros
Rimac Internacional Cia
de Seguros
Rimac Internacional Cia
de Seguros
Peru
Peru
Peru
Peru
Peru
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Fondos de Gobierno
Peru
Foreign
AFP
Foreign
AFP, Fondos Gobierno,
Seguros
Peru
Peru
Colombia
Foreign
Bonos B15-09
Colombia
Colombia
Foreign
Bonos Quimbo B10
Colombia
Colombia
Foreign
Bonos Quimbo B15
Colombia
Colombia
Foreign
Bonos Quimbo B12-13
Colombia
Colombia
Foreign
Bonos Quimbo B16-14
Colombia
Colombia
Foreign
Bonos Quimbo B10-14
Colombia
Colombia
Foreign
Bonos B7-16
Colombia
Foreign
Bonos E6-16
Colombia
Colombia
Foreign
Yankee bonds due 2026
USA.
Foreign
Bonds UF 269
Foreign
Foreign
Yankee bonds unique
series US$600 millions
DEBÊNTURES - 24ª
EMISSÃO 1ª SÉRIE
Brazil
Foreign
Brazil
Foreign
Brazil
Foreign
Brazil
Foreign
Brazil
Foreign
DEBÊNTURES - 24ª
EMISSÃO 2ª SÉRIE
DEBÊNTURES - 25ª
EMISSÃO
DEBÊNTURES - 26ª
EMISSÃO
7ª emissão de Notas
Promissórias - 1ª série
7ª emissão de Notas
Promissórias - 2ª série
Chile
USA.
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
PEN
PEN
PEN
PEN
PEN
PEN
PEN
PEN
COP
COP
COP
COP
COP
COP
COP
COP
US$
UF
US$
BRL
BRL
BRL
BRL
BRL
BRL
8.29%
6.19%
6.09%
5.80%
5.45%
5.99%
5.13%
4.36%
11.67%
8.97%
9.09%
10.52%
9.63%
9.29%
10.20%
7.59%
7.76%
7.02%
4.21%
5.29%
15.24%
15.77%
9.31%
6.30%
6.30%
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
Maturity
At
At
At
At
At
At
At
At
At
At
At
At
At
At
At
At
At
At
Maturity
Biannual
At
Maturity
Annual
8.13%
6.09%
6.00%
5.72%
5.38%
5.91%
5.06%
4.31%
11.19%
8.68%
8.80%
10.13%
9.30%
8.99%
9.83%
7.38%
6.60%
5.75%
4.00%
5.28%
411
742
—
—
212
223
515
465
516
975
—
—
—
Total
Current
ThUS$
363
411
212
223
515
465
516
5
1,463
869
1,224
2,244
—
—
—
—
—
—
—
—
—
5
—
—
—
—
742
25,034
239
239
18,126
191
191
—
25,034
374
—
374
—
25,034
—
240
240
—
32,544
32,544
542
—
542
—
22,530
22,530
—
269
269
27,036
27,036
330
73,699
74,029
13,636
—
49,113
49,113
39,900
39,900
89,161
—
89,161
13,636
45,787
975
71,270
75
73,703
73,778
3,305
3,305
4,400
4,400
858
—
589,223
1,463
62,837
61,646
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
17,524
17,524
25,034
18,126
25,034
25,034
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
45,787
71,270
—
858
—
589,223
124,483
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
15.23%
At
869
Maturity
15.76%
Annual
1,224
—
159,548
—
159,548
—
129,755
129,755
9.30%
Annual
2,244
—
103,105
103,105
6.29%
6.29%
Maturity
At
At
Maturity
35
1,679
1,714
35
1,750
1,785
55,946
286,826
342,772
286,349
382,932
306,594
774,663
630,333
2,380,871
464
Integrated Annual Report Enel Américas 2021
Nominal
Interest
6.34%
Rate Maturity
At
Maturity
Less
than
90 days
ThUS$
363
Current
More
than
90 days
ThUS$
—
December 31, 2021
Non-Current
Total
Current
ThUS$
363
One to
two
years
ThUS$
—
Two to
three
years
ThUS$
20,027
Three to
four years
ThUS$
—
Four to
five years
ThUS$
—
More
than
five years
ThUS$
—
Total Non-
Current
ThUS$
20,027
—
—
411
—
742
25,034
—
—
18,126
—
—
—
—
25,034
—
—
—
—
—
25,034
17,524
17,524
—
—
—
—
25,034
18,126
25,034
25,034
8.13%
6.09%
6.00%
5.72%
5.38%
5.91%
5.06%
4.31%
11.19%
8.68%
8.80%
10.13%
9.30%
8.99%
9.83%
7.38%
6.60%
5.75%
4.00%
5.28%
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
At
Maturity
Biannual
At
Maturity
Annual
15.23%
At
Maturity
411
742
—
—
239
239
191
191
374
—
374
—
240
240
542
—
542
—
269
269
212
—
212
330
73,699
74,029
223
515
465
516
975
—
—
—
—
—
223
515
465
516
—
—
—
1,463
869
5
5
3,305
3,305
4,400
4,400
—
—
—
—
1,463
869
1,224
2,244
975
71,270
75
73,703
73,778
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
13,636
—
—
—
—
45,787
—
—
—
—
—
—
—
—
—
—
—
89,161
—
—
—
—
—
—
—
—
32,544
32,544
—
22,530
22,530
—
—
—
—
—
—
—
—
—
858
—
589,223
27,036
27,036
—
—
13,636
—
49,113
49,113
—
89,161
39,900
39,900
—
—
—
—
—
—
—
45,787
71,270
—
858
—
589,223
124,483
62,837
61,646
—
—
—
—
—
—
—
159,548
—
159,548
—
—
—
—
—
129,755
129,755
—
103,105
103,105
—
—
—
—
—
—
Foreign
Enel
Brazil
Foreign
DEBÊNTURES - 25ª
Brazil
15.76%
Annual
1,224
Foreign
Enel
Brazil
Foreign
DEBÊNTURES - 26ª
Brazil
9.30%
Annual
2,244
Foreign
Enel
Brazil
Foreign
Foreign
Enel
Brazil
Foreign
7ª emissão de Notas
Promissórias - 1ª série
7ª emissão de Notas
Promissórias - 2ª série
Brazil
Brazil
6.29%
6.29%
At
Maturity
At
Maturity
35
1,679
1,714
35
1,750
1,785
Taxpayer
ID No.
Foreign
Country
Peru
Taxpayer
ID No.
Foreign
Name
Country
Rimac Internacional Cia
Peru
Currency
PEN
Foreign
Enel
Foreign
Rimac Internacional Cia
Peru
Foreign
Enel
Foreign
Rimac Internacional Cia
Peru
Foreign
Enel
Foreign
Rimac Internacional Cia
Peru
Foreign
Enel
Foreign
Rimac Internacional Cia
Peru
Foreign
Enel
Foreign
Rimac Internacional Cia
Peru
Foreign
Enel
Foreign
Fondos de Gobierno
Peru
Foreign
Enel
Foreign
AFP
Peru
de Seguros
de Seguros
de Seguros
de Seguros
de Seguros
de Seguros
Company
Enel
Distribución
Peru S.A.
Distribución
Peru S.A.
Distribución
Peru S.A.
Distribución
Peru S.A.
Distribución
Peru S.A.
Distribución
Peru S.A.
Distribución
Peru S.A.
Distribución
Peru S.A.
Distribución
Peru S.A.
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Foreign
Enel
Foreign
AFP, Fondos Gobierno,
Peru
Seguros
Foreign
Emgesa S.A.
Colombia
Foreign
Bonos B15-09
Colombia
Foreign
Emgesa S.A.
Colombia
Foreign
Bonos Quimbo B10
Colombia
Foreign
Emgesa S.A.
Colombia
Foreign
Bonos Quimbo B15
Colombia
Foreign
Emgesa S.A.
Colombia
Foreign
Bonos Quimbo B12-13
Colombia
Foreign
Emgesa S.A.
Colombia
Foreign
Bonos Quimbo B16-14
Colombia
Foreign
Emgesa S.A.
Colombia
Foreign
Bonos Quimbo B10-14
Colombia
Foreign
Emgesa S.A.
Colombia
Foreign
Bonos B7-16
Foreign
Emgesa S.A.
Colombia
Foreign
Bonos E6-16
94.271.00-3
Enel Américas
Chile
Foreign
Yankee bonds due 2026
USA.
94.271.00-3
Enel Américas
Chile
Foreign
Bonds UF 269
94.271.00-3
Enel Américas
Chile
Foreign
Brazil
Foreign
Foreign
Foreign
Enel
Brazil
Foreign
Colombia
Colombia
Chile
USA.
Brazil
Brazil
Yankee bonds unique
series US$600 millions
DEBÊNTURES - 24ª
EMISSÃO 1ª SÉRIE
DEBÊNTURES - 24ª
EMISSÃO 2ª SÉRIE
EMISSÃO
EMISSÃO
E.S.P.
E.S.P.
E.S.P.
E.S.P.
E.S.P.
E.S.P.
E.S.P.
E.S.P.
S.A.
S.A.
S.A.
Enel
Distribución
Sao Paulo
Distribución
Sao Paulo
Distribución
Sao Paulo
Distribución
Sao Paulo
Distribución
Sao Paulo
Distribución
Sao Paulo
PEN
PEN
PEN
PEN
PEN
PEN
PEN
PEN
COP
COP
COP
COP
COP
COP
COP
COP
US$
UF
US$
BRL
BRL
BRL
BRL
BRL
BRL
Effective
Interest
Rate
6.44%
8.29%
6.19%
6.09%
5.80%
5.45%
5.99%
5.13%
4.36%
11.67%
8.97%
9.09%
10.52%
9.63%
9.29%
10.20%
7.59%
7.76%
7.02%
4.21%
5.29%
15.24%
15.77%
9.31%
6.30%
6.30%
55,946
286,826
342,772
286,349
382,932
306,594
774,663
630,333
2,380,871
Consolidated Financial Statements 465
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Taxpayer
ID No.
Foreign
Company
Codensa
Country
Colombia
Taxpayer
ID No.
Foreign
Name
Bonds B12013
Foreign
Codensa
Colombia
Foreign
Bonds B7014
Foreign
Codensa
Colombia
Foreign
Bonds E5017
Foreign
Codensa
Colombia
Foreign
Bonds E7017
Foreign
Codensa
Colombia
Foreign
Bonds E7018
Country
Colombia
Colombia
Colombia
Colombia
Colombia
Foreign
Codensa
Colombia
Foreign
Bonds B12018
Colombia
Foreign
Codensa
Colombia
Foreign
Bonds B5018
Foreign
Codensa
Colombia
Foreign
Bonds E4019
Colombia
Colombia
Foreign
Codensa
Colombia
Foreign
Bonds B10019
Colombia
Foreign
Codensa
Colombia
Foreign
Bonds E420
Foreign
Codensa
Colombia
Foreign
Bonds B720
Colombia
Colombia
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Enel
Distribución
Ceará S.A.
Enel
Distribución
Ceará S.A.
Enel
Distribución
Ceará S.A.
Enel
Distribución
Ceará S.A.
Enel
Distribución
Ceará S.A.
Enel
Distribución
Ceará S.A.
Enel
Generación
Perú S.A.
Enel
Generación
Perú S.A.
Enel
Distribución
Perú S.A.
Enel
Distribución
Perú S.A.
Enel
Distribución
Perú S.A.
Enel
Distribución
Perú S.A.
Enel
Distribución
Perú S.A.
Enel
Distribución
Perú S.A.
Enel
Distribución
Perú S.A.
Brazil
Foreign
DEBÊNTURES 5ª EMISSÃO
0 1 SÉRIE (CEAR15)
Brazil
Brazil
Foreign
DEBÊNTURES 5ª EMISSÃO
0 2 SÉRIE (CEAR25)
Brazil
Brazil
Foreign
DEBÊNTURES 6ª EMISSÃO
0 1 SÉRIE (CEAR16)
Brazil
Brazil
Foreign
DEBÊNTURES 6ª EMISSÃO
0 2 SÉRIE (CEAR26)
Brazil
Brazil
Foreign
DEBÊNTURES 7ª EMISSÃO
0 1 SÉRIE (COCE17)
Brazil
Brazil
Foreign
DEBÊNTURES 7ª EMISSÃO
0 1 SÉRIE (COCE27)
Brazil
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
BANCO CONTINENTAL
Terc Prog 8va Emision
Serie A
BANCO CONTINENTAL
Terc Prog 1ra Emision
Serie A
Bonds 4ta Programa 0
9na emisión Serie A
Bonds 4ta Programa 0
11ra emisión Serie A
Bonds 4ta Programa 0
13ra emisión Serie A
Bonds 4ta Programa 0
15va emision Serie A
Bonds 4ta Programa 0
12va emision Serie A
Bonds 5to Programa 0
5ta emision Serie A
Bonds 5to Programa 0
8va emision Serie A
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
466
Integrated Annual Report Enel Américas 2021
Currency
COP
Effective
Interest
Rate
6.36%
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
BRL
BRL
BRL
BRL
BRL
BRL
US$
PEN
PEN
PEN
PEN
PEN
PEN
PEN
PEN
5.07%
7.60%
6.46%
6.74%
5.14%
4.35%
6.29%
5.10%
4.69%
3.98%
3.60%
10.41%
3.76%
10.61%
3.29%
9.27%
6.44%
6.41%
6.48%
6.25%
5.72%
5.13%
5.26%
7.55%
7.65%
Current
Non Current
December 31, 2020
One to
two
years
ThUS$
Two to
three
years
ThUS$
Three to
Four to
four years
five years
ThUS$
More than
five years
ThUS$
ThUS$
56,499
Total Non-
Current
ThUS$
56,499
Less than
More than
90 days
ThUS$
450
90 days
ThUS$
—
Total
Current
ThUS$
450
51
54,062
54,113
7.39%
Upon
4,729
4,729
78,901
241
863
529
467
343
204
341
289
83
10
—
12
—
—
Nominal
Interest
Rate
6.22%
4.98%
6.31%
6.58%
5.04%
4.28%
6.15%
5.01%
4.61%
3.92%
Maturity
Upon
expiration
Upon
expiration
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
expiration
6.34%
Upon
expiration
6.31%
Upon
expiration
6.38%
Upon
expiration
6.15%
Upon
expiration
5.64%
Upon
expiration
5.06%
Upon
expiration
5.19%
Upon
expiration
7.41%
Upon
expiration
7.51%
Upon
expiration
3.59%
Annual
79
33,691
33,770
33,691
10.40%
Annual
—
17,550
14,439
3.75%
Upon
expiration
7,701
—
10.60%
Annual
151
—
31,524
25,017
3.28%
Annual
473
473
33,691
33,050
—
9.26%
Upon
2,202
2,202
4,193
57,703
241
863
529
467
343
204
341
289
83
10
151
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
78,901
58,445
58,445
56,984
81,823
33,691
31,989
7,701
56,541
66,741
61,896
6,910
11,056
13,820
11,056
56,984
81,823
58,445
58,445
46,756
46,756
73,057
—
73,057
58,445
58,445
73,057
73,057
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
275
275
10,017
10,017
—
12
6,910
150
150
11,056
119
119
—
13,820
13,820
273
—
273
13,820
—
83
83
—
11,056
307
254
—
—
307
254
13,820
13,820
9,813
9,813
—
139
139
16,585
16,585
Currency
Effective
Interest
Rate
6.36%
Taxpayer
ID No.
Foreign
Company
Codensa
Country
Colombia
Taxpayer
ID No.
Foreign
Name
Bonds B12013
Foreign
Codensa
Colombia
Foreign
Bonds B7014
Foreign
Codensa
Colombia
Foreign
Bonds E5017
Foreign
Codensa
Colombia
Foreign
Bonds E7017
Foreign
Codensa
Colombia
Foreign
Bonds E7018
Foreign
Codensa
Colombia
Foreign
Bonds B12018
Colombia
Foreign
Codensa
Colombia
Foreign
Bonds B5018
Foreign
Codensa
Colombia
Foreign
Bonds E4019
Foreign
Codensa
Colombia
Foreign
Bonds B10019
Colombia
Foreign
Codensa
Colombia
Foreign
Bonds E420
Foreign
Codensa
Colombia
Foreign
Bonds B720
Foreign
Enel
Brazil
Foreign
DEBÊNTURES 5ª EMISSÃO
Brazil
Foreign
Enel
Brazil
Foreign
DEBÊNTURES 5ª EMISSÃO
Brazil
Foreign
Enel
Brazil
Foreign
DEBÊNTURES 6ª EMISSÃO
Brazil
Foreign
Enel
Brazil
Foreign
DEBÊNTURES 6ª EMISSÃO
Brazil
Country
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
0 1 SÉRIE (CEAR15)
0 2 SÉRIE (CEAR25)
0 1 SÉRIE (CEAR16)
0 2 SÉRIE (CEAR26)
0 1 SÉRIE (COCE17)
0 1 SÉRIE (COCE27)
BANCO CONTINENTAL
Terc Prog 8va Emision
Serie A
Serie A
BANCO CONTINENTAL
Terc Prog 1ra Emision
9na emisión Serie A
11ra emisión Serie A
13ra emisión Serie A
15va emision Serie A
12va emision Serie A
5ta emision Serie A
8va emision Serie A
Foreign
Foreign
Peru
Peru
Foreign
Foreign
Peru
Peru
Foreign
Enel
Peru
Foreign
Bonds 4ta Programa 0
Peru
Foreign
Enel
Peru
Foreign
Bonds 4ta Programa 0
Peru
Foreign
Enel
Peru
Foreign
Bonds 4ta Programa 0
Peru
Foreign
Enel
Peru
Foreign
Bonds 4ta Programa 0
Peru
Foreign
Enel
Peru
Foreign
Bonds 4ta Programa 0
Peru
Foreign
Enel
Peru
Foreign
Bonds 5to Programa 0
Peru
Foreign
Enel
Peru
Foreign
Bonds 5to Programa 0
Peru
Distribución
Ceará S.A.
Distribución
Ceará S.A.
Distribución
Ceará S.A.
Distribución
Ceará S.A.
Distribución
Ceará S.A.
Distribución
Ceará S.A.
Enel
Generación
Perú S.A.
Enel
Generación
Perú S.A.
Distribución
Perú S.A.
Distribución
Perú S.A.
Distribución
Perú S.A.
Distribución
Perú S.A.
Distribución
Perú S.A.
Distribución
Perú S.A.
Distribución
Perú S.A.
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
BRL
BRL
BRL
BRL
BRL
BRL
US$
PEN
PEN
PEN
PEN
PEN
PEN
PEN
PEN
5.07%
7.60%
6.46%
6.74%
5.14%
4.35%
6.29%
5.10%
4.69%
3.98%
3.60%
10.41%
3.76%
10.61%
3.29%
9.27%
6.44%
6.41%
6.48%
6.25%
5.72%
5.13%
5.26%
7.55%
7.65%
Foreign
Enel
Brazil
Foreign
DEBÊNTURES 7ª EMISSÃO
Brazil
3.28%
Annual
473
Foreign
Enel
Brazil
Foreign
DEBÊNTURES 7ª EMISSÃO
Brazil
9.26%
Upon
expiration
2,202
10.40%
Annual
3.75%
Upon
expiration
83
10
10.60%
Annual
151
—
—
—
—
—
83
10
151
—
17,550
14,439
7,701
—
—
31,524
25,017
473
33,691
33,050
—
2,202
4,193
57,703
—
—
—
—
Current
Non Current
December 31, 2020
Less than
90 days
ThUS$
450
More than
90 days
ThUS$
—
Total
Current
ThUS$
450
One to
two
years
ThUS$
—
Two to
three
years
ThUS$
—
Three to
four years
ThUS$
—
Four to
five years
ThUS$
56,499
More than
five years
ThUS$
—
Total Non-
Current
ThUS$
56,499
Nominal
Interest
Rate
6.22%
4.98%
7.39%
6.31%
6.58%
5.04%
4.28%
6.15%
5.01%
4.61%
3.92%
3.59%
Maturity
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Annual
51
54,062
54,113
—
4,729
241
863
529
467
343
204
341
289
—
—
—
—
—
—
—
—
—
4,729
78,901
241
863
529
467
343
204
341
289
—
—
—
—
—
—
—
—
79
33,691
33,770
33,691
—
—
—
—
—
56,984
81,823
—
—
—
—
—
—
58,445
—
—
—
—
—
73,057
—
—
—
—
—
—
—
6.34%
Upon
expiration
6.31%
Upon
expiration
6.38%
Upon
expiration
6.15%
Upon
expiration
5.64%
Upon
expiration
5.06%
Upon
expiration
5.19%
Upon
expiration
7.41%
Upon
expiration
7.51%
Upon
expiration
—
12
—
—
275
275
—
12
6,910
150
150
11,056
119
119
—
273
—
273
13,820
—
83
83
307
254
—
—
307
254
—
139
139
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
58,445
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
78,901
58,445
58,445
46,756
46,756
—
—
56,984
81,823
58,445
58,445
—
73,057
73,057
73,057
—
—
—
—
—
—
33,691
31,989
7,701
56,541
66,741
61,896
10,017
10,017
—
—
6,910
11,056
13,820
13,820
—
—
13,820
11,056
—
11,056
—
—
—
—
—
—
13,820
13,820
9,813
9,813
16,585
16,585
Consolidated Financial Statements 467
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Taxpayer
ID No.
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
94.271.00-3
94.271.00-3
94.271.00-3
Foreign
Foreign
Foreign
Total
Company
Enel
Distribución
Perú S.A.
Enel
Distribución
Perú S.A.
Enel
Distribución
Perú S.A.
Enel
Distribución
Perú S.A.
Enel
Distribución
Perú S.A.
Enel
Distribución
Perú S.A.
Enel
Distribución
Perú S.A.
Enel
Distribución
Perú S.A.
Enel
Distribución
Perú S.A.
Enel
Distribución
Perú S.A.
Emgesa S.A.
E.S.P.
Emgesa S.A.
E.S.P.
Emgesa S.A.
E.S.P.
Emgesa S.A.
E.S.P.
Emgesa S.A.
E.S.P.
Emgesa S.A.
E.S.P.
Emgesa S.A.
E.S.P.
Emgesa S.A.
E.S.P.
Emgesa S.A.
E.S.P.
Emgesa S.A.
E.S.P.
Emgesa S.A.
E.S.P.
Enel Américas
S.A.
Enel Américas
S.A.
Enel Américas
S.A.
Enel
Distribución
Río S.A.
Enel
Distribución
Sao Paulo
Enel
Distribución
Sao Paulo
Country
Peru
Taxpayer
ID No.
Foreign
Name
Bonds 5to Programa 0
9na emision Serie A
Country
Peru
Currency
PEN
Effective
Interest
Rate
7.02%
Current
Non Current
December 31, 2020
Nominal
Interest
Rate
6.90%
Maturity
Upon
expiration
Less than
More than
90 days
ThUS$
90 days
ThUS$
28,057
Total
Current
ThUS$
28,057
One to
two
years
ThUS$
—
Two to
three
years
ThUS$
—
Three to
Four to
four years
five years
ThUS$
ThUS$
More than
five years
ThUS$
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Bonds 5to Programa 0
10ma emision Serie A
Peru
Bonds 5to Programa 0 2da
emision Serie A
Peru
Bonds 5to Programa 0
19na emision Serie A
Bonds 5to Programa 0
20da emision Serie A
Bonds 5to Programa 0
21ma emision Serie A
Bonds 6to Programa 0 1
emision Serie A
Bonds 6to Programa 0 2
emision Serie A
Bonds 6to Programa 0 3
emision Serie A
Bonds 6to Programa 0 4
emision Serie A
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Colombia
Foreign
B1509
Colombia
Foreign
Bonds B1209
Colombia
Colombia
Colombia
Foreign
Bonds Exterior
Colombia
Colombia
Foreign
Bonds quimbo
Colombia
Colombia
Foreign
Bonds B10
Colombia
Foreign
Bonds B15
Colombia
Colombia
Colombia
Foreign
Bonds Quimbo B12013
Colombia
Colombia
Foreign
Bonds Quimbo B16014
Colombia
Colombia
Foreign
Bonds Quimbo B10014
Colombia
Colombia
Foreign
Bonds B716
Colombia
Foreign
Bonds E616
Colombia
Colombia
Foreign
Yankee Bonds due 2026
U.S.A
Chile
Chile
Chile
Brazil
Foreign
Bonds UF 269
Foreign
Foreign
Yankee Bonds Unique
series US$ 600 millions
DEBENTURES 10
EMISSION (AMPL10)
Brazil
Foreign
Brazil
Foreign
DEBÊNTURES - 24ª
EMISSÃO 1ª SÉRIE
DEBÊNTURES - 24ª
EMISSÃO 2ª SÉRIE
Chile
U.S.A
Brazil
Brazil
Brazil
PEN
PEN
PEN
PEN
PEN
PEN
PEN
PEN
PEN
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
US$
UF
US$
BRL
BRL
BRL
6.55%
6.55%
8.46%
6.28%
6.18%
5.88%
5.52%
6.08%
5.19%
7.67%
6.10%
9.11%
9.11%
5.06%
5.18%
6.56%
5.70%
5.38%
6.25%
7.59%
7.76%
7.02%
4.21%
3.01%
3.61%
8.73%
6.44%
Upon
expiration
6.44%
Upon
expiration
8.29%
Upon
expiration
6.19%
Upon
expiration
6.09%
Upon
expiration
5.80%
Upon
expiration
5.45%
Upon
expiration
5.99%
Upon
expiration
5.13%
Upon
expiration
7.46%
0.00%
4.97%
5.09%
6.41%
5.58%
5.27%
6.11%
7.38%
6.60%
Upon
expiration
Upon
expiration
expiration
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
—
—
401
454
819
—
—
598
168
226
154
389
333
361
721
88
—
—
—
56
56
—
16,585
—
22,113
819
—
27,641
264
264
—
20,013
211
211
—
27,641
413
—
413
27,641
27,641
—
265
265
35,933
35,933
19,349
19,349
Total Non-
Current
ThUS$
—
16,585
22,113
27,641
20,013
27,641
—
—
—
87,644
54,450
84,745
87,630
—
—
—
—
—
—
—
—
—
—
—
—
—
—
858
858
—
3,611
587,253
587,253
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
58,408
58,408
106,036
—
106,036
47,453
47,453
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
24,877
24,877
16,219
16,219
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
5
—
—
—
401
454
598
168
154
389
333
361
721
5
459
816
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
54,450
84,745
88
87,630
5.75%
Biannual
7,103
7,103
3,611
4.00%
Upon
expiration
4,400
4,400
2.99%
Biannual
1,153
1,153
192,318
—
192,318
3.60%
Annual
459
—
65,811
67,292
—
133,103
8.72%
Upon
expiration
816
—
—
—
175,405
175,405
254,029
155,058
409,087
356,954
330,272
606,092
351,986
1,219,490
2,864,794
487
26,178
26,665
8.75%
Upon
28,540
8.75%
Upon
205,098
28,540
205,098
226
87,644
468
Integrated Annual Report Enel Américas 2021
Company
Enel
Distribución
Perú S.A.
Distribución
Perú S.A.
Distribución
Perú S.A.
Distribución
Perú S.A.
Distribución
Perú S.A.
Distribución
Perú S.A.
Distribución
Perú S.A.
Distribución
Perú S.A.
Distribución
Perú S.A.
Distribución
Perú S.A.
Foreign
Enel
Peru
Foreign
Bonds 5to Programa 0
10ma emision Serie A
Peru
Foreign
Enel
Peru
Foreign
Bonds 5to Programa 0 2da
Peru
Foreign
Enel
Peru
Foreign
Foreign
Enel
Peru
Foreign
Foreign
Enel
Peru
Foreign
emision Serie A
Bonds 5to Programa 0
19na emision Serie A
Bonds 5to Programa 0
20da emision Serie A
Bonds 5to Programa 0
21ma emision Serie A
Peru
Peru
Peru
Foreign
Enel
Peru
Foreign
Bonds 6to Programa 0 1
Peru
Foreign
Enel
Peru
Foreign
Bonds 6to Programa 0 2
Peru
Foreign
Enel
Peru
Foreign
Bonds 6to Programa 0 3
Peru
Foreign
Enel
Peru
Foreign
Bonds 6to Programa 0 4
Peru
emision Serie A
emision Serie A
emision Serie A
emision Serie A
Foreign
Emgesa S.A.
Colombia
Foreign
B1509
Foreign
Emgesa S.A.
Colombia
Foreign
Bonds B1209
Foreign
Emgesa S.A.
Colombia
Foreign
Bonds Exterior
Colombia
Foreign
Emgesa S.A.
Colombia
Foreign
Bonds quimbo
Colombia
Foreign
Emgesa S.A.
Colombia
Foreign
Bonds B10
Foreign
Emgesa S.A.
Colombia
Foreign
Bonds B15
Foreign
Emgesa S.A.
Colombia
Foreign
Bonds Quimbo B12013
Colombia
Foreign
Emgesa S.A.
Colombia
Foreign
Bonds Quimbo B16014
Colombia
Foreign
Emgesa S.A.
Colombia
Foreign
Bonds Quimbo B10014
Colombia
Foreign
Emgesa S.A.
Colombia
Foreign
Bonds B716
Foreign
Emgesa S.A.
Colombia
Foreign
Bonds E616
94.271.00-3
Enel Américas
Chile
Foreign
Yankee Bonds due 2026
U.S.A
94.271.00-3
Enel Américas
Chile
Foreign
Bonds UF 269
94.271.00-3
Enel Américas
Chile
E.S.P.
E.S.P.
E.S.P.
E.S.P.
E.S.P.
E.S.P.
E.S.P.
E.S.P.
E.S.P.
E.S.P.
E.S.P.
S.A.
S.A.
S.A.
Enel
Brazil
Foreign
Foreign
Yankee Bonds Unique
series US$ 600 millions
DEBENTURES 10
EMISSION (AMPL10)
Brazil
Foreign
DEBÊNTURES - 24ª
EMISSÃO 1ª SÉRIE
DEBÊNTURES - 24ª
EMISSÃO 2ª SÉRIE
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Chile
U.S.A
Brazil
Brazil
Brazil
Foreign
Foreign
Total
Distribución
Río S.A.
Enel
Distribución
Sao Paulo
Distribución
Sao Paulo
Foreign
Enel
Brazil
Foreign
PEN
PEN
PEN
PEN
PEN
PEN
PEN
PEN
PEN
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
US$
UF
US$
BRL
BRL
BRL
6.55%
6.55%
8.46%
6.28%
6.18%
5.88%
5.52%
6.08%
5.19%
7.67%
6.10%
9.11%
9.11%
5.06%
5.18%
6.56%
5.70%
5.38%
6.25%
7.59%
7.76%
7.02%
4.21%
3.01%
3.61%
8.73%
Taxpayer
ID No.
Foreign
Country
Peru
Taxpayer
ID No.
Foreign
Name
Country
Bonds 5to Programa 0
Peru
9na emision Serie A
Currency
PEN
Effective
Interest
Rate
7.02%
Current
Non Current
December 31, 2020
Nominal
Interest
Rate
6.90%
Maturity
Upon
expiration
Less than
90 days
ThUS$
—
More than
90 days
ThUS$
28,057
Total
Current
ThUS$
28,057
One to
two
years
ThUS$
—
Two to
three
years
ThUS$
—
Three to
four years
ThUS$
—
Four to
five years
ThUS$
—
More than
five years
ThUS$
—
Total Non-
Current
ThUS$
—
—
56
56
—
16,585
—
401
454
—
—
819
—
27,641
—
22,113
—
—
—
—
20,013
—
27,641
—
—
—
—
—
—
—
—
—
—
—
—
5
6.44%
Upon
expiration
6.44%
Upon
expiration
8.29%
Upon
expiration
6.19%
Upon
expiration
6.09%
Upon
expiration
5.80%
Upon
expiration
5.45%
Upon
expiration
5.99%
Upon
expiration
5.13%
Upon
expiration
7.46%
0.00%
8.75%
8.75%
4.97%
5.09%
6.41%
5.58%
5.27%
6.11%
7.38%
6.60%
5.75%
4.00%
2.99%
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Upon
expiration
Biannual
Upon
expiration
Biannual
401
454
819
—
—
28,540
205,098
226
154
389
333
361
721
88
—
—
—
1,153
3.60%
Annual
459
8.72%
Upon
expiration
816
264
264
211
211
413
—
413
—
265
265
598
168
—
—
598
168
487
26,178
26,665
28,540
205,098
—
—
—
—
—
—
—
—
—
226
87,644
154
389
333
361
721
—
—
—
—
—
88
87,630
5
—
7,103
7,103
3,611
4,400
4,400
—
—
—
1,153
459
816
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
16,585
22,113
19,349
19,349
—
—
—
27,641
20,013
27,641
27,641
27,641
35,933
35,933
24,877
24,877
—
—
—
—
—
16,219
—
—
—
87,644
58,408
58,408
106,036
—
106,036
—
—
—
—
—
—
—
—
47,453
47,453
—
—
—
54,450
84,745
87,630
858
858
—
3,611
587,253
587,253
—
192,318
—
—
—
—
—
—
—
—
—
—
—
—
—
84,745
—
—
—
—
—
—
—
—
16,219
—
—
—
—
—
—
—
54,450
—
—
—
—
—
192,318
—
65,811
67,292
—
133,103
—
—
—
175,405
175,405
254,029
155,058
409,087
356,954
330,272
606,092
351,986
1,219,490
2,864,794
Consolidated Financial Statements 469
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
c) Secured bonds
The detail of secured bonds by currency and maturity as for December 31, 2021 and 2020, is as follows.
• Summary of secured bonds by currency and maturity
Country
Brazil
Total
Country
Brazil
Total
Currency
BRL
Nominal
Interest Rate
14.40%
Secured /
Unsecured
Secured
Currency
BRL
Nominal
Interest Rate
Secured /
Unsecured
7.31%
Secured
• Secured liabilities by company
Current
Maturity
One to three
months
ThUS$
Three to twelve
months
ThUS$
6,800
6,800
142,081
142,081
Current
Maturity
One to three
months
ThUS$
Three to twelve
months
ThUS$
151,477
151,477
Non-Current
Maturity
Non-Current
Maturity
Total current
12-31-2021
ThUS$
148,881
148,881
One to two years
ThUS$
142,194
142,194
Two to three
Three to four
More than five
years
ThUS$
16,963
16,963
years
ThUS$
17,637
17,637
Four to five years
ThUS$
17,650
17,650
years
ThUS$
49,281
49,281
Total current
12-31-2020
ThUS$
154,955
154,955
One to two years
ThUS$
149,733
149,733
Two to three
Three to four
More than five
years
ThUS$
150,272
150,272
years
ThUS$
16,027
16,027
Four to five years
ThUS$
16,027
16,027
years
ThUS$
63,230
63,230
Taxpayer
ID No.
Foreign
Foreign
Foreign
Foreign
Foreign
Total
Taxpayer
ID No.
Foreign
Foreign
Foreign
Foreign
Total
Name
Country
Currency
Company
Enel Green Power
Volta Grande
Enel Green Power
Volta Grande
Country
Brazil
Taxpayer
ID No.
Foreign
Brazil
Foreign
Enel Distribución Sao
Paulo
Brazil
Foreign
DEBÊNTURES 1ª EMISSÃO (EGVG11)
- 1ª Série
DEBÊNTURES 1ª EMISSÃO (EGVG21)
- 2ª Série
DEBÊNTURES - 23ª EMISSÃO 2ª
SÉRIE
Grupo EGP Brasil
Grupo EGP Brasil
Brazil
Brazil
Foreign
Foreign
Itaú Unibanco S.A.
Itaú Unibanco S.A.
Brazil
Brazil
Brazil
Brazil
Brazil
BRL
BRL
BRL
BRL
BRL
Company
Enel Green Power
Volta Grande
Enel Green Power
Volta Grande
Enel Distribución Sao
Paulo
Enel Distribución Sao
Paulo
Country
Brazil
Brazil
Brazil
Brazil
Taxpayer
ID No.
Foreign
Foreign
Foreign
Foreign
Name
Country
Currency
DEBÊNTURES 1ª EMISSÃO (EGVG11)
- 1ª SÉRIE
DEBÊNTURES 1ª EMISSÃO (EGVG21)
- 2ª SÉRIE
DEBÊNTURES - 23ª EMISSÃO 1ª
SÉRIE
DEBÊNTURES - 23ª EMISSÃO 2ª
SÉRIE
Brazil
Brazil
Brazil
Brazil
BRL
BRL
BRL
BRL
Effective
Interest
Rate
14.92%
14.91%
4.94%
18.64%
18.63%
Effective
Interest
Rate
8.24%
8.22%
3.02%
3.10%
Current
More
than
90 days
ThUS$
Less than
90 days
ThUS$
December 31, 2021
Non-Current
One to
two
years
ThUS$
Two to
three
years
ThUS$
Three to
Four to
four years
five years
five years
ThUS$
ThUS$
ThUS$
More
than
Total
current
596
10,663
11,259
10,814
10,814
10,814
10,814
30,931
Nominal
Interest
Ratel Maturity
14.91% Annual
14.90% Annual
361
5,888
6,249
6,009
6,009
6,009
6,009
17,183
41,219
4.93% Annual
5,831
125,080
130,911
125,176
18.63% Biannual
18.62% Biannual
6
6
200
250
206
256
108
87
-
49
91
-
350
464
-
407
420
-
716
451
6,800
142,081
148,881
142,194
16,963
17,637
17,650
49,281
Nominal
Interest
Ratel Maturity
8.23% Annual
Less than
90 days
ThUS$
727
317
More
than
90 days
ThUS$
10,570
Total
current
One to
two
years
ThUS$
12.31.2020
Two to
Three to
three
years
ThUS$
four
years
ThUS$
11,297
10,620
10,595
10,595
five years
five years
Four to
ThUS$
10,595
More
than
ThUS$
41,778
Total Non-
Current
ThUS$
84,183
8.21% Annual
5,495
5,812
5,432
5,446
5,432
5,432
21,452
43,194
3.01% Upon
758
135,412
136,170
-
-
Expiration
3.08% Annual
1,676
-
1,676
133,681
134,231
-
-
-
-
-
-
-
267,912
3,478
151,477
154,955
149,733
150,272
16,027
16,027
63,230
395,289
Total Non-
Current
12-31-2021
ThUS$
243,725
243,725
Total Non-
Current
12-31-2020
ThUS$
395,289
395,289
Total Non-
Current
74,187
125,176
1,630
1,513
243,725
470
Integrated Annual Report Enel Américas 2021
Currency
BRL
Nominal
Interest Rate
14.40%
Secured /
Unsecured
Secured
Country
Brazil
Total
Country
Brazil
Total
Currency
BRL
Nominal
Interest Rate
Secured /
Unsecured
7.31%
Secured
• Secured liabilities by company
Taxpayer
ID No.
Foreign
Company
Country
Enel Green Power
Brazil
Taxpayer
ID No.
Foreign
DEBÊNTURES 1ª EMISSÃO (EGVG11)
Brazil
Country
Currency
Volta Grande
Volta Grande
Paulo
Foreign
Foreign
Total
Grupo EGP Brasil
Grupo EGP Brasil
Brazil
Brazil
Foreign
Foreign
Itaú Unibanco S.A.
Itaú Unibanco S.A.
Taxpayer
ID No.
Foreign
Company
Country
Enel Green Power
Brazil
Taxpayer
ID No.
Foreign
DEBÊNTURES 1ª EMISSÃO (EGVG11)
Brazil
Country
Currency
Foreign
Enel Green Power
Brazil
Foreign
DEBÊNTURES 1ª EMISSÃO (EGVG21)
Brazil
Volta Grande
Volta Grande
Paulo
Paulo
Total
Name
- 1ª Série
- 2ª Série
SÉRIE
Name
- 1ª SÉRIE
- 2ª SÉRIE
SÉRIE
SÉRIE
One to three
Three to twelve
months
ThUS$
142,081
142,081
Current
Maturity
months
ThUS$
6,800
6,800
Current
Maturity
One to three
months
ThUS$
Three to twelve
months
ThUS$
151,477
151,477
Effective
Interest
Rate
14.92%
14.91%
4.94%
18.64%
18.63%
Effective
Interest
Rate
8.24%
8.22%
3.02%
3.10%
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
Brazil
Brazil
Brazil
Brazil
Brazil
Total current
12-31-2021
ThUS$
148,881
148,881
One to two years
ThUS$
142,194
142,194
Two to three
years
ThUS$
16,963
16,963
Total current
12-31-2020
ThUS$
154,955
154,955
One to two years
ThUS$
149,733
149,733
Two to three
years
ThUS$
150,272
150,272
Non-Current
Maturity
Three to four
years
ThUS$
17,637
17,637
Non-Current
Maturity
Three to four
years
ThUS$
16,027
16,027
Four to five years
ThUS$
17,650
17,650
More than five
years
ThUS$
49,281
49,281
Four to five years
ThUS$
16,027
16,027
More than five
years
ThUS$
63,230
63,230
Total Non-
Current
12-31-2021
ThUS$
243,725
243,725
Total Non-
Current
12-31-2020
ThUS$
395,289
395,289
Current
More
than
90 days
ThUS$
Less than
90 days
ThUS$
December 31, 2021
Non-Current
One to
two
years
ThUS$
Two to
three
years
ThUS$
Three to
four years
ThUS$
Four to
five years
ThUS$
More
than
five years
ThUS$
Total
current
596
10,663
11,259
10,814
10,814
10,814
10,814
30,931
Total Non-
Current
74,187
Nominal
Interest
Ratel Maturity
14.91% Annual
Foreign
Enel Green Power
Brazil
Foreign
DEBÊNTURES 1ª EMISSÃO (EGVG21)
Brazil
14.90% Annual
361
5,888
6,249
6,009
6,009
6,009
6,009
17,183
41,219
Foreign
Enel Distribución Sao
Brazil
Foreign
DEBÊNTURES - 23ª EMISSÃO 2ª
4.93% Annual
5,831
125,080
130,911
125,176
18.63% Biannual
18.62% Biannual
6
6
200
250
206
256
108
87
-
49
91
-
350
464
-
407
420
-
716
451
6,800
142,081
148,881
142,194
16,963
17,637
17,650
49,281
125,176
1,630
1,513
243,725
Foreign
Enel Distribución Sao
Brazil
Foreign
DEBÊNTURES - 23ª EMISSÃO 1ª
3.01% Upon
758
135,412
136,170
-
-
Expiration
Foreign
Enel Distribución Sao
Brazil
Foreign
DEBÊNTURES - 23ª EMISSÃO 2ª
3.08% Annual
1,676
-
1,676
133,681
134,231
-
-
-
-
-
-
-
267,912
3,478
151,477
154,955
149,733
150,272
16,027
16,027
63,230
395,289
Nominal
Interest
Ratel Maturity
8.23% Annual
8.21% Annual
Less than
90 days
ThUS$
727
317
More
than
90 days
ThUS$
10,570
One to
two
years
ThUS$
12.31.2020
Two to
three
years
ThUS$
Three to
four
years
ThUS$
Four to
five years
ThUS$
More
than
five years
ThUS$
Total
current
11,297
10,620
10,595
10,595
10,595
41,778
Total Non-
Current
ThUS$
84,183
5,495
5,812
5,432
5,446
5,432
5,432
21,452
43,194
Consolidated Financial Statements 471
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
• Fair value measurement and hierarchy
The fair value of current and non-current secured and unsecured liabilities as of December 31, 2021 totaled ThUS$ 3,146,336
(ThUS$ 4,017,861 as of December 31, 2020). These liabilities have been classified as Level 2 fair value measurement based on
the entry data used in the valuation techniques used (see Note 3.h). It is important to note that these financial liabilities are
measured at amortized cost (see Note 3 g.4.)
• Detail of other obligations
Company
Country
Taxpayer
ID No.
Brazil
Foreign
Brazil
Foreign
Financial Institution
ECFS 0292/2010 (LUZ PARA TODOS
VI)
ECFS 0310/2010 (LUZ PARA TODOS
VII)
Country
Brazil
Brazil
Argentina
Foreign
Mitsubishi (deuda garantizada)
Argentina
Brazil
Foreign
FIDC Série A
Brazil
Foreign
FIDC Série B
Brazil
Foreign
Mútuo CelgPar 41211376/2014
Brazil
Foreign
Eletrobras
Colombia
Colombia
Foreign
Foreign
Bank of Nova Scotia
Bank of Nova Scotia
Brazil
Brazil
Brazil
Brazil
Canada
Canada
Currency
BRL
BRL
US$
BRL
BRL
BRL
BRL
US$
US$
December 31, 2021
One to
two
years
ThUS$
Two to
Three to
Four to
three
years
ThUS$
four
years
ThUS$
five
years
ThUS$
More
than
five
years
ThUS$
0.25%
Quarterly
1,434
4,314
5,748
8,235
4,741
4,787
7,394
11,053
36,210
Nominal
Interest
Ratel
6.00%
Maturity
Monthly
6.00%
Monthly
Less
than
90 days
ThUS$
More
than
90 days
ThUS$
Total
Current
ThUS$
149
291
85
218
7.57%
Monthly
7,304
8,279
21.68%
Monthly
5,020
5,836
242
761
160
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
6.80%
Monthly
604
1,729
2,333
398
1,860
2,050
1,862
6.00%
Monthly
105
316
421
80
0.30%
0.02%
Annual
Annual
13
-
-
19
13
19
4,084
19,005
23,089
9,398
5,219
6,647
9,444
12,915
43,623
December 31, 2020
Less
than
90 days
ThUS$
More
than
90 days
ThUS$
Total
Current
ThUS$
One to
two
years
ThUS$
Two to
Three to
Four to
three
years
ThUS$
four
years
ThUS$s
five
years
ThUS$
More
than
five
years
ThUS$
Total Non-
Current
ThUS$
Nominal
Interest
Rate
6,00%
Maturity
Monthly
6,00%
Monthly
6,00%
Monthly
6,00%
Monthly
-
165
206
233
21
247
275
311
160
311
259
6,15%
Monthly
1,670
7,240
8,910
7,493
3,141
12,32%
Monthly
1,033
4,245
5,278
3,563
777
6,80%
Monthly
1,736
2,349
1,630
1,797
1,975
2,165
4,506
12,073
6,00%
Monthly
339
452
318
318
159
0,30%
0,02%
9,47%
Quarterly
Monthly
Quarterly
-
-
49
45
51,685
12,929
64,614
34,477
34,477
34,477
8,619
112,050
55,458
33,181
88,639
54,446
48,363
44,105
18,278
16,215
181,407
Total Non-
Current
ThUS$
242
6,931
240
-
-
-
-
-
-
-
160
570
10,634
4,340
795
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
64
73
975
816
21
82
69
78
-
613
113
49
45
Country
Brazil
Brazil
Brazil
Brazil
Taxpayer
ID No.
Financial Institution
Foreign
ELETROBRAS 0244/2009
Foreign
ELETROBRAS 0265/2009
Foreign
ELETROBRAS 292/2010
Foreign
ELETROBRAS 310/2010
Country
Brazil
Brazil
Brazil
Brazil
Currency
BRL
BRL
BRL
BRL
Argentina
Foreign
MITSUBISHI (DEUDA GARANTIZADA)
Argentina
US$
0,25%
Biannual
6,088
6,088
6,494
7,594
7,494
7,494
11,709
40,785
Foreign
FIDC SÉRIE A
Foreign
FIDC SÉRIE B
Brazil
Brazil
Foreign
MÚTUO CELGPAR 41211376/2014
Brazil
Brazil
Brazil
Brazil
Brazil
Foreign
ELETROBRAS
Colombia
Colombia
Brazil
Foreign
Foreign
Foreign
BANK OF NOVA SCOTIA
BANK OF NOVA SCOTIA
FUNDAÇÃO CESP (*)
Brazil
Colombia
Colombia
Brazil
BRL
BRL
BRL
BRL
COP
COP
BRL
Taxpayer
ID No.
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Total
Taxpayer
ID No.
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Total
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Generación
Costanera S.A.
Enel Distribución
Goias S.A.
Enel Distribución
Goias S.A.
Enel Distribución
Goias S.A.
Enel Distribución
Goias S.A.
Emgesa S.A. E.S.P.
Codensa
Company
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Distribución
Ceará S.A.
Enel Generación
Costanera S.A.
Enel Distribución
Goias S.A.
Enel Distribución
Goias S.A.
Enel Distribución
Goias S.A.
Enel Distribución
Goias S.A.
Emgesa S.A. E.S.P.
Codensa
Enel Distribución Sao
Paulo
(*) See Note 25.2.c)
472
Integrated Annual Report Enel Américas 2021
Company
Country
Financial Institution
Country
Currency
Enel Distribución
Brazil
Foreign
ECFS 0292/2010 (LUZ PARA TODOS
Brazil
Taxpayer
ID No.
Enel Distribución
Brazil
Foreign
ECFS 0310/2010 (LUZ PARA TODOS
Brazil
VI)
VII)
December 31, 2021
Nominal
Interest
Ratel
Maturity
6.00%
Monthly
6.00%
Monthly
Less
than
90 days
ThUS$
More
than
90 days
ThUS$
64
73
85
218
Total
Current
ThUS$
149
291
One to
two
years
ThUS$
-
242
Two to
three
years
ThUS$
Three to
four
years
ThUS$
Four to
five
years
ThUS$
-
-
-
-
-
-
More
than
five
years
ThUS$
-
-
Total Non-
Current
ThUS$
-
242
Argentina
Foreign
Mitsubishi (deuda garantizada)
Argentina
0.25%
Quarterly
1,434
4,314
5,748
8,235
4,741
4,787
7,394
11,053
36,210
Enel Distribución
Brazil
Foreign
FIDC Série A
Enel Distribución
Brazil
Foreign
FIDC Série B
7.57%
Monthly
21.68%
Monthly
975
816
7,304
8,279
5,020
5,836
Enel Distribución
Brazil
Foreign
Mútuo CelgPar 41211376/2014
6.80%
Monthly
604
1,729
2,333
Enel Distribución
Brazil
Foreign
Eletrobras
6.00%
Monthly
105
316
421
Colombia
Colombia
Foreign
Foreign
Bank of Nova Scotia
Bank of Nova Scotia
0.30%
0.02%
Annual
Annual
13
-
-
19
13
19
-
-
761
160
-
-
-
-
-
-
-
-
-
-
398
1,860
2,050
1,862
80
-
-
-
-
-
-
-
-
-
-
-
-
-
6,931
240
-
-
4,084
19,005
23,089
9,398
5,219
6,647
9,444
12,915
43,623
Taxpayer
ID No.
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Total
Taxpayer
ID No.
Foreign
Ceará S.A.
Ceará S.A.
Enel Generación
Costanera S.A.
Goias S.A.
Goias S.A.
Goias S.A.
Goias S.A.
Emgesa S.A. E.S.P.
Codensa
Ceará S.A.
Ceará S.A.
Ceará S.A.
Ceará S.A.
Enel Generación
Costanera S.A.
Goias S.A.
Goias S.A.
Goias S.A.
BRL
BRL
US$
BRL
BRL
BRL
BRL
US$
US$
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
COP
COP
BRL
Brazil
Brazil
Brazil
Brazil
Canada
Canada
Country
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Colombia
Colombia
Brazil
Company
Country
Financial Institution
Currency
Enel Distribución
Brazil
Foreign
ELETROBRAS 0244/2009
Taxpayer
ID No.
Foreign
Enel Distribución
Brazil
Foreign
ELETROBRAS 0265/2009
Foreign
Enel Distribución
Brazil
Foreign
ELETROBRAS 292/2010
Foreign
Enel Distribución
Brazil
Foreign
ELETROBRAS 310/2010
Foreign
Argentina
Foreign
MITSUBISHI (DEUDA GARANTIZADA)
Argentina
US$
Nominal
Interest
Rate
6,00%
Maturity
Monthly
6,00%
Monthly
6,00%
Monthly
6,00%
Monthly
0,25%
Biannual
Foreign
Enel Distribución
Brazil
Foreign
MÚTUO CELGPAR 41211376/2014
Brazil
Foreign
Enel Distribución
Brazil
Foreign
ELETROBRAS
Goias S.A.
Emgesa S.A. E.S.P.
Codensa
Colombia
Colombia
Enel Distribución Sao
Brazil
Paulo
Foreign
Foreign
Foreign
Total
(*) See Note 25.2.c)
Foreign
Foreign
Foreign
BANK OF NOVA SCOTIA
BANK OF NOVA SCOTIA
FUNDAÇÃO CESP (*)
6,80%
Monthly
6,00%
Monthly
0,30%
0,02%
9,47%
Quarterly
Monthly
Quarterly
21
82
69
78
-
613
113
49
45
December 31, 2020
Less
than
90 days
ThUS$
More
than
90 days
ThUS$
Total
Current
ThUS$
One to
two
years
ThUS$
Two to
three
years
ThUS$
Three to
four
years
ThUS$s
Four to
five
years
ThUS$
-
165
206
233
21
247
275
311
-
-
160
311
-
-
-
259
-
-
-
-
-
-
-
-
More
than
five
years
ThUS$
-
-
-
-
Total Non-
Current
ThUS$
-
-
160
570
6,088
6,088
6,494
7,594
7,494
7,494
11,709
40,785
1,736
2,349
1,630
1,797
1,975
2,165
4,506
12,073
339
452
318
318
159
-
-
49
45
-
-
-
-
-
-
-
-
-
51,685
12,929
64,614
34,477
34,477
34,477
8,619
-
-
-
-
795
-
-
112,050
55,458
33,181
88,639
54,446
48,363
44,105
18,278
16,215
181,407
Consolidated Financial Statements 473
Foreign
Enel Distribución
Brazil
Foreign
FIDC SÉRIE A
6,15%
Monthly
1,670
7,240
8,910
7,493
3,141
Foreign
Enel Distribución
Brazil
Foreign
FIDC SÉRIE B
12,32%
Monthly
1,033
4,245
5,278
3,563
777
-
-
-
-
-
-
10,634
4,340
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
d) Hedged debt
The debt denominated in U.S. dollars for ThUS$ 74,313 held by the Group as of December 31, 2021, is related to future cash
flow hedges for the Group’s U.S. dollar-linked operating revenues (ThUS$ 35,064 and ThUS$ 29,474 as of December 31, 2020
and 2019, respectively) (see Note 3.n).
The following table details changes in “Reserve for cash flow hedges” for the years ended December 31, 2021, 2020 and 2019,
due to exchange differences from this debt:
Balance in hedging reserves (hedging revenues) at the beginning of the year, net
Foreign currency exchange differences recorded in equity, net
Recognition of foreign currency exchange differences revenue, net
Foreign currency translation differences
Balance in hedging reserves (hedging revenues) at the end of the year, net
e) Other information
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2019
ThUS$
(8,683)
(980)
1,601
790
(7,272)
(9,453)
(1,299)
1,268
801
(8,683)
(9,882)
424
189
(184)
(9,453)
As of December 31, 2021, the Group has unconditionally available long-term credit lines for an amount of ThUS$ 1,119,278
As of December 31, 2020, the Group did not have any unconditional long-term credit facilities available to it.
f) Future undiscounted debt flows
The following table shows the estimates of undiscounted cash flows by type of financial debt:
- Summary of bank loans by currencies and maturities
Country
Currency
Chile
Peru
Peru
Colombia
Brazil
Brazil
Brazil
Total
Country
Chile
Peru
Peru
Colombia
Brazil
Brazil
Total
US$
PEN
US$
COP
US$
BRL
EUR
Currency
US$
PEN
US$
COP
US$
BRL
Nominal
Interest
Rate
0.38%
2.28%
1.30%
2.97%
2.02%
8.61%
2.28%
Nominal
Interest
Rate
0.94%
2.71%
2.59%
3.62%
2.91%
3.80%
Current
Maturity
One to
three
months
ThUS$
5
1,293
2,611
7,075
41,603
96,750
550
Non-Current
Maturity
Three to
twelve
months
ThUS$
Total
Current
12-31-
2021
ThUS$
One to two
years
ThUS$
Two to
three years
ThUS$
Three to
four years
ThUS$
Four to five
years
ThUS$
More than
five years
ThUS$
-
5
-
-
200,052
201,345
57,665
60,276
156,036
163,111
37,653
13,877
51,808
58,427
51,341
48,058
-
-
-
-
-
13,009
12,882
78,632
169,741
38,699
246,968
117,657
503,190
77,727
119,330
246,664
304,125
206,988
106,540
203,290
9,009
9,559
80,745
13,817
163,539
13,539
63,860
11,035
84,277
61,281
8,607
168,004
1,010,058
477,728
847,153
49,641
96,639
Total Non-
Current
12-31-
2021
ThUS$
-
96,080
149,887
607,029
756,916
444,564
639,029
333,591
414,015
891,662
2,722,861
Current
Maturity
One to
three
months
ThUS$
Three to
twelve
months
ThUS$
Total
Current
12-31-
2020
ThUS
Non-Current
Maturity
One to two
years
ThUS$
Two to
three years
ThUS$
Three to
four years
ThUS$
Four to five
years
ThUS$
More than
five years
ThUS$
1,102
151
2,746
175,940
150,366
326,306
-
-
171,132
172,234
48,505
39,557
25,050
25,201
-
-
125,276
128,022
294,873
107,696
402,569
15,435
49,366
10,496
112,467
122,963
143,573
485,308
691,987
1,177,295
256,879
23,344
127
18,697
81,725
-
-
-
21,204
2,819
11,953
35,976
-
-
-
10,775
-
10,476
21,251
Total Non-
Current
12-31-
2020
ThUS$
-
88,062
-
71,092
52,312
-
-
-
334
-
22,414
207,113
22,748
418,579
474
Integrated Annual Report Enel Américas 2021
− Summary of secured and unsecured bonds by currency and maturity
Current
Maturity
Non-Current
Maturity
Country
Currency
Chile
Chile
Perú
Perú
Colombia
Brazil
Total
US$
UF
US$
PEN
COP
BRL
Country
Currency
Chile
Chile
Perú
Perú
Colombia
Brazil
Total
US$
UF
US$
PEN
COP
BRL
Nominal
Interest
Rate
One to three
months
ThUS$
5.30%
5.75%
6.34%
6.02%
8.24%
11.57%
51
6,265
158
4,666
85,917
61,728
158,785
Current
Maturity
Nominal
Interest
Rate
One to three
months
ThUS$
5.30%
5.75%
6.34%
6.24%
5.74%
5.94%
6,248
172
157
5,292
236,187
17,348
Three to
twelve
months
ThUS$
3,361
18,794
474
41,905
199,861
264,363
528,758
Three to
twelve
months
ThUS$
18,743
7,482
471
42,218
138,040
236,255
265,404
443,209
Total Current
12-31-2021
ThUS$
One to two
years
ThUS$
Two to three
years
ThUS$
Three to four
years
ThUS$
Four to five
years
ThUS$
More than
five years
ThUS$
-
-
-
-
Total Non-
Current
12-31-2021
ThUS$
-
696,927
13,212
374,420
964,062
-
-
10,684
185,393
278,596
25,059
632
52,073
211,135
275,037
25,059
621,750
632
46,951
217,630
172,368
632
34,166
16,894
227,997
563,936
462,640
901,439
852,593
3,407,976
377,920
1,359,355
3,412
25,059
632
46,571
285,778
326,091
687,543
25,059
632
55,837
239,807
306,033
627,368
Non-Current
Maturity
Total Current
12-31-2020
ThUS$
One to two
years
ThUS$
Two to three
years
ThUS$
Three to four
years
ThUS$
Four to five
years
ThUS$
More than
five years
ThUS$
Total Non-
Current
12-31-2020
ThUS$
24,991
7,654
628
47,510
374,227
253,603
708,613
24,991
3,807
628
50,087
321,820
278,779
680,112
24,991
24,991
24,991
621,693
721,657
-
628
60,314
270,759
393,232
749,924
-
628
56,162
238,759
312,535
-
628
-
11,309
3,807
13,821
50,510
209,399
426,472
247,208
106,090
332,765
1,411,311
261,456
1,352,092
633,075
429,427
1,436,622
3,929,160
- Summary of lease obligations by currency and maturity
Country
Currency
Argentina
Colombia
Brazil
Total
US$
US$
BRL
Country
Currency
Argentina
Colombia
Brazil
Total
US$
COP
BRL
Nominal
Interest
Rate
0.25%
0.16%
9.01%
Nominal
Interest
Rate
0.25%
0.32%
7.19%
Current
Maturity
Non-Current
Maturity
One to
three
months
ThUS$
1,435
13
5,842
7,290
Three to
twelve
months
ThUS$
4,483
19
16,657
21,159
Total
Current 12-
31-2021
ThUS$
5,918
32
22,499
28,449
One to two
years
ThUS$
Two to
three years
ThUS$
Three to
four years
ThUS$
Four to five
years
ThUS$
More than
five years
ThUS$
Total Non-
Current 12-
31-2021
ThUS$
8,235
-
12,406
20,641
4,741
-
2,203
6,944
4,787
-
2,182
6,969
7,394
-
2,243
9,637
11,881
37,038
-
1,915
13,796
-
20,949
57,987
Current
Maturity
Non-Current
Maturity
One to
three
months
ThUS$
1,946
94
58,113
60,153
Three to
twelve
months
ThUS$
4,296
-
34,017
38,313
Total
Current 12-
31-2020
ThUS$
6,242
94
92,130
98,466
One to two
years
ThUS$
Two to
three years
ThUS$
Three to
four years
ThUS$
Four to five
years
ThUS$
More than
five years
ThUS$
Total Non-
Current 12-
31-2020
ThUS$
3,781
-
56,158
59,939
4,374
-
44,720
49,094
7,494
-
37,124
44,618
7,494
-
11,104
18,598
18,590
41,733
-
4,796
23,386
-
153,902
195,635
NOTE. 20. Lease liabilities
As of December 31, 2021, and 2020, the balance of lease liabilities is as follows:
Lease liability
Total
December 31, 2020
December 31, 2020
Current
ThUS$
60,687
60,687
Non-Current
ThUS$
187,891
187,891
Current
ThUS$
51,495
51,495
Non-Current
ThUS$
91,070
91,070
Consolidated Financial Statements 475
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes 20.1 Individualization of Lease Liabilities
Individualized lease liabilities are detailed as follows:
Taxpayer
ID No.
Company
Taxpayer
ID No.
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Company
Codensa
Codensa
Codensa
Codensa
Codensa
Country
Colombia
Colombia
Colombia
Colombia
Colombia
Enel Distribución Peru S.A.
Peru
Enel Distribución Peru S.A.
Enel Distribución Peru S.A.
Enel Distribución Peru S.A.
Enel Distribución Peru S.A.
Enel Distribución Peru S.A.
Enel Generación Piura S.A.
Enel Generación Piura S.A.
Enel Generación Piura S.A.
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Emgesa S.A. E.S.P.
Emgesa S.A. E.S.P.
Colombia
Colombia
Enel Distribución Sao Paulo
Brazil
Enel Distribución Sao Paulo
Enel Distribución Sao Paulo
Enel Distribución Sao Paulo
Enel Distribución Sao Paulo
Enel Distribución Sao Paulo
EGP Cachoeira Dourada S.A.
Enel Generación Peru S.A.
Enel Generación Peru S.A.
Enel Generación Peru S.A.
Enel Generación Peru S.A.
ENEL X Brazil
Enel Distribución Ceará S.A.
Enel Distribución Ceará S.A.
Enel Cien S.A.
Enel Distribución Río S.A.
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Peru
Peru
Peru
Peru
Brazil
Brazil
Brazil
Brazil
Brazil
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Enel Distribución Río S.A.
Brazil
Foreign
Foreign
Foreign
Enel Distribución Río S.A.
Enel Distribución Goias S.A.
Brazil
Brazil
Foreign
Foreign
Various creditors
Colombia
C.I. ALLIANCE S.A.
TERRAPUERTO SAS
COMPAÑIA GENERAL
TRANSPORTES ESPECIALES
ALIADOS
BANCO INTERBANK DEL
PERU
BBVA Banco Continental
CORP MG
BuildingInmuebles
Panamericana S.A.
MAREAUTO PERU S.A
Various creditors
SCOTIABANK PERU
BBVA CONTINENTAL
Various creditors
BANCOLOMBIA
Various creditors
CASTELLO BRANCO
OFFICE PARK - FUNDO DE
INVESTIMENTO IMOBILIÁRIO
(50%) / CSHG REAL ESTATE
- FUNDO DE INVESTIMENTO
IMOBILIÁRIO (50%)
JSL
VAMOS
BR PROPERTIES S/A
LM TRANSPORTES
INTERESTADUAIS SERVICOS
E COMERCIO S A
Various creditors
Various creditors
BBVA
CORP MG
Various creditors
Various creditors
Various creditors
LM TRANSPORTES
INTERESTADUAIS SERVICOS
E COMERCIO S A
Various creditors
Various creditors
FUNDO DE INVESTIMENTO
IMOBILIÁRIO PATRIMONIAL III
LM TRANSPORTES
INTERESTADUAIS SERVICOS
E COMERCIO S A
Various creditors
ITA EMPRESA DE
TRANSPORTES LTDA FROTA
NOVA
Country
Colombia
Colombia
Colombia
Colombia
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Colombia
Colombia
Brazil
Brazil
Peru
Peru
Peru
Brazil
Brazil
Peru
Peru
Peru
Peru
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Foreign
Foreign
Foreign
Enel Distribución Goias S.A.
Enel Generación Fortaleza
Brazil
Brazil
Foreign
Foreign
Various creditors
Various creditors
EDESUR
Argentina
Foreign
Various creditors
Argentina
476
Integrated Annual Report Enel Américas 2021
Currency
COP
COP
COP
COP
COP
PEN
PEN
US$
PEN
PEN
US$
US$
US$
PEN
COP
COP
BRL
BRL
BRL
BRL
BRL
BRL
BRL
PEN
US$
PEN
US$
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
ARS
Nominal
Interest
Rate
7.50%
7.50%
7.50%
4.14%
8.16%
5.89%
2.99%
2.27%
5.19%
7.77%
2.61%
3.70%
2.84%
7.37%
7.89%
8.52%
14.20%
9.45%
7.28%
8.97%
8.97%
8.34%
12.42%
1.59%
2.23%
7.26%
2.82%
9.01%
11.61%
7.14%
9.33%
8.54%
11.61%
8.86%
11.49%
8.75%
11.73%
0.62%
Current
Non-Current
Less than
More than
90 days
ThUS$
90 days
ThUS$
Three to
four years
ThUS$
Four to
five years
ThUS$
More than
five years
Total Non-
Current
ThUS$
December 31, 2021
One to
two
years
ThUS$
Two to
three
years
ThUS$
Maturity
Monthly
Monthly
Monthly
Monthly
Monthly
Quarterly
Quarterly
Monthly
Monthly
Monthly
Monthly
Quarterly
Quarterly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Quarterly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
1,490
1,994
2,056
Total
Current
ThUS$
247
167
148
724
2,662
11,328
1,239
228
352
314
2,399
5,768
8
4,092
357
63
2,251
831
178
2,321
3,390
65
2,352
586
23
58
308
2,020
529
59
1,731
922
164
107
98
404
1,982
8,505
939
172
266
235
—
3,858
6
1,861
186
47
1,675
629
178
1,606
1,666
44
1,637
444
17
43
185
1,526
223
27
—
696
233
167
140
382
96
1,715
1,308
240
377
264
—
—
8
1,573
121
1,111
2,417
290
2,138
819
1,515
39
—
618
24
41
179
780
222
19
725
399
277
1,554
642
2,083
69
2,203
72
29
14
417
45
14
54
6
24
83
60
50
504
320
680
2,823
300
56
86
79
2,399
1,910
2
2,231
171
16
576
202
—
715
1,724
21
715
142
6
15
123
494
306
32
1,731
226
365
529
345
16
—
251
179
150
351
213
—
—
1,380
253
233
217
—
—
5
1,573
40
1,268
2,645
—
2,138
85
332
—
—
652
15
41
100
82
16
12
787
97
68
992
40
—
—
1,573
1,573
9,443
1,449
1,654
2,895
2,138
—
—
2,975
—
—
2,138
12,826
290
207
173
—
88
—
1,532
—
—
—
56
—
—
—
—
22
—
—
724
—
—
4
—
12
—
953
—
79
—
—
—
—
ThUS$
3,813
2,722
2,325
1,116
7,441
—
—
—
—
—
—
—
—
—
—
148
469
—
16
—
—
—
—
—
—
—
22
—
—
—
51
—
—
—
—
4,857
3,468
2,949
2,407
1,891
96
1,715
13,116
580
610
668
—
—
13
15,735
165
5,630
10,948
290
21,378
904
2,100
39
—
39
96
756
862
285
31
3,322
496
339
3,195
97
6
24
3,515
6,196
270
193
161
—
92
—
—
—
131
—
—
—
4
1,455
87
231
—
—
687
—
14
4
—
13
—
857
—
72
—
3
—
—
Current
Non-Current
December 31, 2021
Less than
90 days
ThUS$
More than
90 days
ThUS$
Three to
four years
ThUS$
Four to
five years
ThUS$
More than
five years
ThUS$
Total Non-
Current
ThUS$
Company
Codensa
Codensa
Codensa
Codensa
Codensa
Taxpayer
ID No.
Company
Currency
Country
Colombia
Colombia
Colombia
Colombia
Colombia
C.I. ALLIANCE S.A.
TERRAPUERTO SAS
COMPAÑIA GENERAL
Country
Colombia
Colombia
Colombia
TRANSPORTES ESPECIALES
Colombia
ALIADOS
Various creditors
Colombia
Enel Distribución Peru S.A.
Peru
BANCO INTERBANK DEL
Peru
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Enel Distribución Peru S.A.
Enel Distribución Peru S.A.
Enel Distribución Peru S.A.
Enel Distribución Peru S.A.
Enel Distribución Peru S.A.
Enel Generación Piura S.A.
Enel Generación Piura S.A.
Enel Generación Piura S.A.
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Emgesa S.A. E.S.P.
Emgesa S.A. E.S.P.
Colombia
Colombia
Enel Distribución Sao Paulo
Brazil
Enel Distribución Sao Paulo
Enel Distribución Sao Paulo
Enel Distribución Sao Paulo
Enel Distribución Sao Paulo
Enel Distribución Sao Paulo
EGP Cachoeira Dourada S.A.
Enel Generación Peru S.A.
Enel Generación Peru S.A.
Enel Generación Peru S.A.
Enel Generación Peru S.A.
ENEL X Brazil
Enel Distribución Ceará S.A.
Enel Distribución Ceará S.A.
Enel Cien S.A.
Enel Distribución Río S.A.
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Peru
Peru
Peru
Peru
Brazil
Brazil
Brazil
Brazil
Brazil
Taxpayer
ID No.
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Colombia
Colombia
Brazil
PERU
BBVA Banco Continental
CORP MG
BuildingInmuebles
Panamericana S.A.
MAREAUTO PERU S.A
Various creditors
SCOTIABANK PERU
BBVA CONTINENTAL
Various creditors
BANCOLOMBIA
Various creditors
CASTELLO BRANCO
OFFICE PARK - FUNDO DE
INVESTIMENTO IMOBILIÁRIO
(50%) / CSHG REAL ESTATE
- FUNDO DE INVESTIMENTO
IMOBILIÁRIO (50%)
JSL
VAMOS
BR PROPERTIES S/A
LM TRANSPORTES
INTERESTADUAIS SERVICOS
E COMERCIO S A
Various creditors
Various creditors
BBVA
CORP MG
Various creditors
Various creditors
Various creditors
E COMERCIO S A
Various creditors
Various creditors
LM TRANSPORTES
INTERESTADUAIS SERVICOS
FUNDO DE INVESTIMENTO
IMOBILIÁRIO PATRIMONIAL III
INTERESTADUAIS SERVICOS
E COMERCIO S A
Various creditors
ITA EMPRESA DE
TRANSPORTES LTDA FROTA
NOVA
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Brazil
Peru
Peru
Peru
Brazil
Brazil
Peru
Peru
Peru
Peru
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Foreign
Enel Distribución Río S.A.
Brazil
Foreign
LM TRANSPORTES
Foreign
Foreign
Enel Distribución Río S.A.
Enel Distribución Goias S.A.
Brazil
Brazil
Foreign
Foreign
Enel Distribución Goias S.A.
Enel Generación Fortaleza
Brazil
Brazil
Foreign
Foreign
Various creditors
Various creditors
EDESUR
Argentina
Foreign
Various creditors
Argentina
Nominal
Interest
Rate
7.50%
7.50%
7.50%
4.14%
8.16%
5.89%
2.99%
2.27%
5.19%
7.77%
2.61%
3.70%
2.84%
7.37%
7.89%
8.52%
14.20%
9.45%
7.28%
8.97%
8.97%
8.34%
12.42%
1.59%
2.23%
7.26%
2.82%
9.01%
11.61%
7.14%
9.33%
8.54%
11.61%
8.86%
11.49%
8.75%
11.73%
0.62%
COP
COP
COP
COP
COP
PEN
PEN
US$
PEN
PEN
US$
US$
US$
PEN
COP
COP
BRL
BRL
BRL
BRL
BRL
BRL
BRL
PEN
US$
PEN
US$
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
BRL
ARS
Maturity
Monthly
Monthly
Monthly
Monthly
Monthly
Quarterly
Quarterly
Monthly
Monthly
Monthly
Monthly
Quarterly
Quarterly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Quarterly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Total
Current
ThUS$
247
167
148
One to
two
years
ThUS$
233
167
140
164
107
98
1,490
1,994
2,056
404
1,982
8,505
939
172
266
235
—
3,858
6
1,861
186
47
1,675
629
178
1,606
1,666
44
1,637
444
17
43
185
1,526
223
27
—
696
724
2,662
11,328
1,239
228
352
314
2,399
5,768
8
4,092
357
63
2,251
831
178
2,321
3,390
65
2,352
586
23
58
308
2,020
529
59
1,731
922
382
96
1,715
1,308
240
377
264
—
—
8
1,573
121
1,111
2,417
290
2,138
819
1,515
39
—
618
24
41
179
780
222
19
725
399
277
1,554
642
2,083
69
2,203
72
29
14
417
45
14
54
6
24
Two to
three
years
ThUS$
251
179
150
351
213
—
—
1,380
253
233
217
—
—
5
1,573
40
1,268
2,645
—
2,138
85
332
—
—
652
15
41
100
82
16
12
787
97
68
992
40
—
—
83
60
50
504
320
680
2,823
300
56
86
79
2,399
1,910
2
2,231
171
16
576
202
—
715
1,724
21
715
142
6
15
123
494
306
32
1,731
226
365
529
345
16
—
270
193
161
—
92
—
—
1,455
87
—
131
—
—
—
1,573
4
1,449
2,895
—
2,138
—
231
—
—
687
—
14
4
—
13
—
857
—
72
—
3
—
—
4,857
3,468
2,949
2,407
1,891
96
1,715
13,116
580
610
668
—
—
13
15,735
165
5,630
10,948
290
21,378
904
2,100
39
—
290
207
173
—
88
—
—
3,813
2,722
2,325
—
1,116
—
—
1,532
7,441
—
—
—
—
—
—
9,443
—
148
16
—
12,826
—
—
—
—
—
—
56
—
—
—
1,573
—
1,654
2,975
—
2,138
—
22
—
—
724
—
—
4
—
12
—
953
—
79
—
—
—
—
3,515
6,196
—
—
469
—
22
—
—
—
51
—
—
—
—
39
96
756
862
285
31
3,322
496
339
3,195
97
6
24
Consolidated Financial Statements 477
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Currency
BRL
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
US$
US$
US$
US$
US$
US$
US$
US$
US$
PEN
US$
US$
US$
US$
BRL
BRL
BRL
BRL
BRL
BRL
BRL
Nominal
Interest
Rate
9.39%
8.58%
8.58%
9.25%
13.41%
11.98%
15.28%
11.27%
11.31%
11.31%
11.23%
4.95%
4.04%
7.20%
8.89%
7.20%
7.20%
9.68%
9.68%
9.68%
9.14%
10.10%
6.33%
6.75%
6.75%
15.92%
11.66%
13.18%
14.49%
13.25%
12.48%
12.47%
Current
Non-Current
December 31, 2021
Less than
More than
90 days
ThUS$
10
90 days
ThUS$
29
Total
Current
ThUS$
One to
two
years
ThUS$
40
Two to
three
years
ThUS$
Three to
four years
ThUS$
Four to
five years
ThUS$
More than
five years
ThUS$
Total Non-
Current
ThUS$
—
40
732
260
3
4
138
122
41
85
64
46
60
12
—
32
10
43
22
31
29
11
1
49
49
14
119
81
21
58
32
—
—
8
—
6
5
—
—
—
—
180
36
—
99
—
—
—
—
—
35
3
9
—
—
469
9
7
2
11
54
593
39
732
260
11
4
144
127
41
85
64
46
240
48
—
131
10
43
22
31
29
46
4
58
49
14
588
90
28
60
43
—
—
—
11
1
4
7
—
—
—
—
192
—
157
85
—
—
—
—
—
31
—
30
29
14
874
13
10
4
19
55
764
—
—
—
—
1
6
7
—
—
—
—
192
—
—
85
—
—
—
—
—
—
—
30
29
14
12
4
21
64
654
—
—
14
—
9
5
—
—
—
—
192
—
96
85
—
—
—
—
—
50
—
30
29
14
746
12
9
3
16
46
683
—
—
—
—
1
6
8
—
—
—
—
192
—
—
85
—
—
—
—
—
—
—
30
29
14
13
5
24
73
651
4,349
7,333
—
113
3,026
1,635
1,226
1,655
1,159
1,531
1,153
—
—
1,132
561
628
878
835
—
—
712
734
339
4,634
1,988
4,349
7,333
25
116
3,051
1,662
1,226
1,655
1,159
1,531
1,921
—
253
1,472
561
628
878
835
81
—
832
850
395
8,477
2,040
2,495
2,495
1,224
1,268
1,315
1,331
1,281
1,361
363
31,410
117,616
601
34,162
187,891
461
3,577
515
4,170
26,270
34,417
60,687
24,451
16,515
14,487
14,822
1,024
15
1,199
12
Maturity
Monthly
Monthly
Monthly
Monthly
Quarterly
Annual
Annual
Annual
Annual
Annual
Annual
Monthly
Monthly
Monthly
Monthly
Annual
Monthly
Monthly
Monthly
Annual
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Taxpayer
ID No.
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Company
Enel Green Power Volta
Grande
USME ZE S.A.S
FONTIBON ZE S.A.S
EGP Colombia SAS ESP
EGP Colombia SAS ESP
EGP Colombia SAS ESP
EGP Colombia SAS ESP
EGP Colombia SAS ESP
EGP Colombia SAS ESP
EGP Colombia SAS ESP
EGP Colombia SAS ESP
Enel Fortuna S.A.
Enel Fortuna S.A.
Country
Brazil
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Panama
Panama
Taxpayer
ID No.
Company
Foreign
Various creditors
Country
Brazil
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
TRAMI INVERSIONES S.A.S.
Colombia
Trami Inversiones S.A.S.
Various creditors
Various creditors
Various creditors
Carlos Enrique Giovanetti
Inversiones Macondal
Luz Charris de Manjares -
Sucesion
FBM SAS
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Rolando Manjarres Charris
Colombia
Inversiones Hayat
Various creditors
EGP Guatemala S.A.
Guatemala
Foreign
Various creditors
Enel Solar SRL
Panama
Foreign
Various creditors
Guatemala
Foreign
Various creditors
Guatemala
Foreign
Agricola Mamusa S.A.
Guatemala
Generadora de Occidente
Ltda.
Generadora de Occidente
Ltda.
Generadora Montecristo S.A. Guatemala
Foreign
Various creditors
Generadora Montecristo S.A. Guatemala
Foreign
Panama
Panama
Guatemala
Panama
Guatemala
Guatemala
Guatemala
Guatemala
Peru
Peru
Panama
Panama
Panama
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Agroindustria California,
S.A. (Pedro Rojas)
Agropecuaria San Antonio
Quenené
Various creditors
Various creditors
VALENTIN LEZCANO
CASTILLO
Ganadera Paldiva
Various creditors
CAMPO ALEGRE
EMPREENDIMENTOS
RURAIS LTDA.
CALCARIO IMAP AGRO
MINERAÇÃO LTDA.
ESPÓLIO DE CIRILO
BENVINDO DE SOUZA
MAGALHÃES E ELOY
GESTÃO DE RECEBÍVE
TS-19 PARTICIPAÇÕES LTDA Brazil
Foreign
Generadora Montecristo S.A. Guatemala
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
EGP Peru S.A.
EGP Peru S.A.
Peru
Peru
Progreso Solar S.A.
Panama
Generadora Solar Austral
Jaguito Solar 10MW, S.A.
Grupo EGP Brazil
Grupo EGP Brazil
Panama
Panama
Brazil
Brazil
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Grupo EGP Brazil
Brazil
Foreign
Foreign
Grupo EGP Brazil
Brazil
Foreign
Foreign
Grupo EGP Brazil
Brazil
Foreign
Foreign
Foreign
Total
Grupo EGP Brazil
Grupo EGP Brazil
Brazil
Brazil
Foreign
Foreign
JOÃO CARLOS RATAJCZYK
Various creditors
478
Integrated Annual Report Enel Américas 2021
Taxpayer
ID No.
Company
Taxpayer
ID No.
Company
Foreign
Enel Green Power Volta
Foreign
Various creditors
Currency
Nominal
Interest
Rate
9.39%
Country
Brazil
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Panama
Panama
Grande
USME ZE S.A.S
FONTIBON ZE S.A.S
EGP Colombia SAS ESP
EGP Colombia SAS ESP
EGP Colombia SAS ESP
EGP Colombia SAS ESP
EGP Colombia SAS ESP
EGP Colombia SAS ESP
EGP Colombia SAS ESP
EGP Colombia SAS ESP
Enel Fortuna S.A.
Enel Fortuna S.A.
Ltda.
Ltda.
EGP Peru S.A.
EGP Peru S.A.
Peru
Peru
Generadora Solar Austral
Jaguito Solar 10MW, S.A.
Grupo EGP Brazil
Grupo EGP Brazil
Panama
Panama
Brazil
Brazil
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
EGP Guatemala S.A.
Guatemala
Foreign
Various creditors
Enel Solar SRL
Panama
Foreign
Various creditors
Generadora de Occidente
Guatemala
Foreign
Various creditors
Foreign
Generadora de Occidente
Guatemala
Foreign
Agricola Mamusa S.A.
Guatemala
Generadora Montecristo S.A. Guatemala
Foreign
Various creditors
Generadora Montecristo S.A. Guatemala
Foreign
Agroindustria California,
Foreign
Generadora Montecristo S.A. Guatemala
Foreign
Agropecuaria San Antonio
Guatemala
Progreso Solar S.A.
Panama
VALENTIN LEZCANO
Panama
TRAMI INVERSIONES S.A.S.
Colombia
Trami Inversiones S.A.S.
Various creditors
Various creditors
Various creditors
Carlos Enrique Giovanetti
Inversiones Macondal
Sucesion
FBM SAS
Inversiones Hayat
Various creditors
Luz Charris de Manjares -
Colombia
Rolando Manjarres Charris
Colombia
S.A. (Pedro Rojas)
Quenené
Various creditors
Various creditors
CASTILLO
Ganadera Paldiva
Various creditors
TS-19 PARTICIPAÇÕES LTDA Brazil
CAMPO ALEGRE
EMPREENDIMENTOS
RURAIS LTDA.
MINERAÇÃO LTDA.
BENVINDO DE SOUZA
GESTÃO DE RECEBÍVE
JOÃO CARLOS RATAJCZYK
Various creditors
Country
Brazil
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Panama
Panama
Guatemala
Panama
Guatemala
Guatemala
Guatemala
Peru
Peru
Panama
Panama
Brazil
Brazil
Brazil
Brazil
Brazil
BRL
COP
COP
COP
COP
COP
COP
COP
COP
COP
COP
US$
US$
US$
US$
US$
US$
US$
US$
US$
PEN
US$
US$
US$
US$
BRL
BRL
BRL
BRL
BRL
BRL
BRL
Foreign
Grupo EGP Brazil
Brazil
Foreign
CALCARIO IMAP AGRO
Brazil
Foreign
Grupo EGP Brazil
Brazil
Foreign
ESPÓLIO DE CIRILO
Foreign
Grupo EGP Brazil
Brazil
Foreign
MAGALHÃES E ELOY
Grupo EGP Brazil
Grupo EGP Brazil
Brazil
Brazil
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Total
8.58%
8.58%
9.25%
13.41%
11.98%
15.28%
11.27%
11.31%
11.31%
11.23%
4.95%
4.04%
7.20%
8.89%
7.20%
7.20%
9.68%
9.68%
9.68%
9.14%
10.10%
6.33%
6.75%
6.75%
15.92%
11.66%
13.18%
14.49%
13.25%
12.48%
12.47%
Current
More than
90 days
ThUS$
29
—
—
8
—
6
5
—
—
—
—
180
36
—
99
—
—
—
—
—
35
3
9
—
—
469
9
7
2
11
54
593
Less than
90 days
ThUS$
10
732
260
3
4
138
122
41
85
64
46
60
12
—
32
10
43
22
31
29
11
1
49
49
14
119
81
21
58
32
461
3,577
Total
Current
ThUS$
39
732
260
11
4
144
127
41
85
64
46
240
48
—
131
10
43
22
31
29
46
4
58
49
14
588
90
28
60
43
515
4,170
Maturity
Monthly
Monthly
Monthly
Monthly
Quarterly
Annual
Annual
Annual
Annual
Annual
Annual
Monthly
Monthly
Monthly
Monthly
Annual
Monthly
Monthly
Monthly
Annual
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
One to
two
years
ThUS$
40
—
—
14
—
9
5
—
—
—
—
192
—
96
85
—
—
—
—
—
50
—
30
29
14
746
12
9
3
16
46
683
December 31, 2021
Non-Current
Two to
three
years
ThUS$
Three to
four years
ThUS$
Four to
five years
ThUS$
More than
five years
ThUS$
Total Non-
Current
ThUS$
—
—
—
11
1
4
7
—
—
—
—
192
—
157
85
—
—
—
—
—
31
—
30
29
14
874
13
10
4
19
55
764
—
—
—
—
1
6
7
—
—
—
—
192
—
—
85
—
—
—
—
—
—
—
30
29
14
—
—
—
—
1
6
8
—
—
—
—
192
—
—
85
—
—
—
—
—
—
—
30
29
14
1,024
15
1,199
12
12
4
21
64
654
13
5
24
73
651
—
40
4,349
7,333
—
113
3,026
1,635
1,226
1,655
1,159
1,531
1,153
—
—
1,132
561
4,349
7,333
25
116
3,051
1,662
1,226
1,655
1,159
1,531
1,921
—
253
1,472
561
2,495
2,495
628
878
835
—
—
712
734
339
4,634
1,988
628
878
835
81
—
832
850
395
8,477
2,040
1,224
1,268
1,315
1,331
1,281
1,361
363
31,410
117,616
601
34,162
187,891
26,270
34,417
60,687
24,451
16,515
14,487
14,822
Consolidated Financial Statements 479
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
20.1 Individualization of Lease Liabilities, continued
Taxpayer
ID No.
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
Company
Codensa
Codensa
Codensa
Codensa
Country
Colombia
Colombia
Colombia
Colombia
Enel Distribución Peru S.A.
Peru
Enel Distribución Peru S.A.
Enel Distribución Peru S.A.
Enel Distribución Peru S.A.
Enel Distribución Peru S.A.
Enel Generación Piura S.A.
Enel Generación Piura S.A.
Enel Generación Piura S.A.
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Emgesa S.A. E.S.P.
Colombia
Enel Distribución Sao Paulo
Brazil
Enel Distribución Sao Paulo
Enel Distribución Sao Paulo
EGP Cachoeira Dourada S.A.
Enel Generación Peru S.A.
Enel Generación Peru S.A.
Enel Generación Peru S.A.
Enel Generación Peru S.A.
Enel Generación Peru S.A.
Enel Generación Peru S.A.
ENEL Brazil S.A.
ENEL X Brazil
ENEL X Brazil
Enel Distribución Ceará S.A.
Enel Cien S.A.
Enel Distribución Río S.A.
Enel Distribución Río S.A.
Enel Distribución Goias S.A.
Enel Generación Fortaleza
EDESUR
Enel Green Power Volta
Grande
Brazil
Brazil
Brazil
Peru
Peru
Peru
Peru
Peru
Peru
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Argentina
Brazil
Taxpayer
ID No.
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
Company
C.I. ALLIANCE S.A.
TERRAPUERTO SAS
COMPAÑIA GENERAL DE
Various creditors
BANCO INTERBANK DEL
PERU
BANCO CONTINENTAL
CORP MG
Various creditors
Various creditors
SCOTIABANK PERU
Various creditors
Various creditors
Various creditors
CASTELLO BRANCO
OFFICE PARK - FUNDO DE
INVESTIMENTO IMOBILIÁRIO
(50%) / CSHG REAL ESTATE
- FUNDO DE INVESTIMENTO
IMOBILIÁRIO (50%)
JSL
Various creditors
Various creditors
BBVA
RENTAEQUIPOS LEASING
PERU S.A.
Various creditors
Various creditors
Various creditors
Various creditors
Various creditors
Various creditors
Various creditors
Various creditors
Various creditors
FUNDO DE INVESTIMENTO
IMOBILIÁRIO PATRIMONIAL
III
Various creditors
Various creditors
Various creditors
Various creditors
Various creditors
Country
Currency
Colombia
Colombia
Colombia
Colombia
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Colombia
Brazil
Brazil
Brazil
Brazil
Peru
Peru
Peru
Peru
Peru
Peru
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Argentina
Brazil
COP
COP
COP
COP
PEN
PEN
US$
PEN
US$
US$
US$
PEN
COP
BRL
BRL
BRL
BRL
US$
US$
PEN
US$
US$
PEN
BRL
EUR
BRL
BRL
BRL
BRL
BRL
BRL
BRL
ARS
BRL
94.271.000-3 Enel Américas S.A.
Chile
96.565.580-8
Various creditors
Chile
UF
Total
Nominal
Interest
Rate
7.50%
7.50%
7.50%
8.08%
5.89%
2.99%
2.27%
4.92%
3.94%
3.70%
3.23%
7.57%
7.87%
10.55%
9.45%
6.96%
12.42%
2.81%
3.37%
1.59%
4.12%
2.23%
5.45%
10.93%
9.31%
9.02%
7.05%
7.86%
8.54%
8.75%
7.93%
12.42%
0.62%
7.09%
0.01%
480
Integrated Annual Report Enel Américas 2021
Current
Non-Current
December 31, 2020
Less than
More than
90 days
ThUS$
90 days
ThUS$
Total
Current
ThUS$
Three to
four years
ThUS$
Four to
five years
ThUS$
More than
five years
Total Non-
Current
ThUS$
Quarterly
1,758
5,423
Maturity
Monthly
Monthly
Monthly
Monthly
Quarterly
Monthly
Monthly
Monthly
Quarterly
Quarterly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Quarterly
Monthly
Quarterly
Monthly
Quarterly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
95
67
57
975
716
1
65
48
2,418
627
8
528
622
1,228
2,886
12
2,233
7
—
3
6
2
9
15
63
315
27
1,851
416
879
11
—
2
11
224
113
107
1,362
2,161
766
164
177
7,268
2,060
11
1,263
1,040
1,641
3,370
36
4,529
383
45
3
14
3
27
2
51
251
13
—
626
278
34
78
3
8
319
180
164
2,337
2,877
7,181
767
229
225
9,686
2,687
19
1,791
1,662
2,869
6,256
48
6,762
390
45
6
20
5
36
17
114
566
40
1,851
1,042
1,157
45
78
5
19
One to
two
years
ThUS$
254
178
152
201
2,931
7,756
1,697
229
200
2,397
1,463
—
364
1,515
2,368
3,582
31
—
828
181
—
—
—
22
3
41
154
11
717
501
106
29
45
11
—
Two to
three
years
ThUS$
273
192
163
154
106
1,988
1,697
240
93
—
—
—
122
1,674
2,592
1,858
—
—
802
45
—
—
—
—
4
3
32
—
778
74
44
—
—
1
—
1,851
2,046
2,461
294
206
176
102
—
—
1,697
253
46
—
—
—
28
2,836
310
—
—
802
—
—
—
—
—
4
—
18
—
844
73
33
—
—
—
—
316
221
189
33
—
—
1,697
87
—
—
—
—
—
3,104
214
—
—
802
—
—
—
—
—
4
—
14
—
919
77
3
—
—
—
—
ThUS$
4,802
3,368
2,904
942
7,778
—
—
—
—
—
—
—
—
—
—
—
—
—
371
146
36
—
137
—
—
—
—
—
5,939
4,165
3,584
1,432
3,037
9,744
14,566
809
339
2,397
1,463
—
514
9,547
226
—
—
—
22
386
190
254
11
862
186
29
45
12
—
3,207
20
—
—
14,107
5,984
31
—
3,674
6,908
1,023
4,281
17,961
33,534
51,495
27,967
12,935
9,573
9,726
30,869
91,070
Enel Distribución Peru S.A.
Peru
BANCO INTERBANK DEL
Peru
Company
Codensa
Codensa
Codensa
Codensa
Country
Colombia
Colombia
Colombia
Colombia
Enel Distribución Peru S.A.
Enel Distribución Peru S.A.
Enel Distribución Peru S.A.
Enel Distribución Peru S.A.
Enel Generación Piura S.A.
Enel Generación Piura S.A.
Enel Generación Piura S.A.
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Emgesa S.A. E.S.P.
Colombia
Enel Distribución Sao Paulo
Brazil
Enel Distribución Sao Paulo
Enel Distribución Sao Paulo
EGP Cachoeira Dourada S.A.
Enel Generación Peru S.A.
Enel Generación Peru S.A.
Enel Generación Peru S.A.
Enel Generación Peru S.A.
Enel Generación Peru S.A.
Enel Generación Peru S.A.
ENEL Brazil S.A.
ENEL X Brazil
ENEL X Brazil
Enel Distribución Ceará S.A.
Enel Cien S.A.
Enel Distribución Río S.A.
Brazil
Brazil
Brazil
Peru
Peru
Peru
Peru
Peru
Peru
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Enel Distribución Río S.A.
Enel Distribución Goias S.A.
Enel Generación Fortaleza
Enel Green Power Volta
Brazil
Argentina
EDESUR
Grande
Taxpayer
ID No.
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
Taxpayer
ID No.
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
foreign
Total
Country
Currency
Company
C.I. ALLIANCE S.A.
TERRAPUERTO SAS
COMPAÑIA GENERAL DE
Various creditors
PERU
BANCO CONTINENTAL
CORP MG
Various creditors
Various creditors
SCOTIABANK PERU
Various creditors
Various creditors
Various creditors
CASTELLO BRANCO
OFFICE PARK - FUNDO DE
INVESTIMENTO IMOBILIÁRIO
(50%) / CSHG REAL ESTATE
- FUNDO DE INVESTIMENTO
IMOBILIÁRIO (50%)
Colombia
Colombia
Colombia
Colombia
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Colombia
Brazil
RENTAEQUIPOS LEASING
JSL
Various creditors
Various creditors
BBVA
PERU S.A.
Various creditors
Various creditors
Various creditors
Various creditors
Various creditors
Various creditors
Various creditors
Various creditors
Various creditors
III
Various creditors
Various creditors
Various creditors
Various creditors
Various creditors
FUNDO DE INVESTIMENTO
IMOBILIÁRIO PATRIMONIAL
Brazil
Brazil
Brazil
Peru
Peru
Peru
Peru
Peru
Peru
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Argentina
Brazil
COP
COP
COP
COP
PEN
PEN
US$
PEN
US$
US$
US$
PEN
COP
BRL
BRL
BRL
BRL
US$
US$
PEN
US$
US$
PEN
BRL
EUR
BRL
BRL
BRL
BRL
BRL
BRL
BRL
ARS
BRL
Nominal
Interest
Rate
7.50%
7.50%
7.50%
8.08%
5.89%
2.99%
2.27%
4.92%
3.94%
3.70%
3.23%
7.57%
7.87%
10.55%
9.45%
6.96%
12.42%
2.81%
3.37%
1.59%
4.12%
2.23%
5.45%
10.93%
9.31%
9.02%
7.05%
7.86%
8.54%
8.75%
7.93%
12.42%
0.62%
7.09%
0.01%
94.271.000-3 Enel Américas S.A.
Chile
96.565.580-8
Various creditors
Chile
UF
Current
Non-Current
December 31, 2020
Less than
90 days
ThUS$
More than
90 days
ThUS$
Total
Current
ThUS$
Maturity
Monthly
Monthly
Monthly
Monthly
Quarterly
95
67
57
975
716
224
113
107
1,362
2,161
Quarterly
1,758
5,423
Monthly
Monthly
Monthly
Quarterly
Quarterly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Quarterly
Monthly
Quarterly
Monthly
Quarterly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
Monthly
1
65
48
2,418
627
8
528
622
1,228
2,886
12
2,233
7
—
3
6
2
9
15
63
315
27
1,851
416
879
11
—
2
11
766
164
177
7,268
2,060
11
1,263
1,040
1,641
3,370
36
4,529
383
45
3
14
3
27
2
51
251
13
—
626
278
34
78
3
8
319
180
164
2,337
2,877
7,181
767
229
225
9,686
2,687
19
1,791
1,662
2,869
6,256
48
6,762
390
45
6
20
5
36
17
114
566
40
1,851
1,042
1,157
45
78
5
19
One to
two
years
ThUS$
254
178
152
201
2,931
7,756
1,697
229
200
2,397
1,463
—
364
1,515
2,368
3,582
31
—
828
181
—
—
—
22
3
41
154
11
717
501
106
29
45
11
—
Two to
three
years
ThUS$
273
192
163
154
106
1,988
1,697
240
93
—
—
—
122
1,674
2,592
1,858
—
—
802
45
—
—
—
—
4
3
32
—
778
74
44
—
—
1
—
Three to
four years
ThUS$
Four to
five years
ThUS$
More than
five years
ThUS$
Total Non-
Current
ThUS$
294
206
176
102
—
—
1,697
253
46
—
—
—
28
316
221
189
33
—
—
1,697
87
—
—
—
—
—
4,802
3,368
2,904
942
—
—
7,778
—
—
—
—
—
—
1,851
2,046
2,461
5,939
4,165
3,584
1,432
3,037
9,744
14,566
809
339
2,397
1,463
—
514
9,547
2,836
310
—
—
802
—
—
—
—
—
4
—
18
—
844
73
33
—
—
—
—
3,104
214
—
—
802
3,207
20
—
—
14,107
5,984
31
—
3,674
6,908
—
—
—
—
—
4
—
14
—
919
77
3
—
—
—
—
—
—
—
—
—
371
146
36
—
226
—
—
—
22
386
190
254
11
1,023
4,281
137
—
—
—
—
—
862
186
29
45
12
—
17,961
33,534
51,495
27,967
12,935
9,573
9,726
30,869
91,070
Consolidated Financial Statements 481
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
20.2 Undiscounted debt cash flows
Undiscounted debt cash flows are detailed as follows:
Country
Currency
Argentina
Peru
Peru
Colombia
Brazil
Panamá
Guatemala
Total
ARS
US$
PEN
COP
BRL
US$
US$
Country
Currency
Argentina
Peru
Per
Colombia
Brazil
Brazil
Chile
Total
ARS
US$
PEN
COP
BRL
BRL
UF
Nominal
Interest
Rate
0.62%
3.38%
5.25%
8.47%
11.84%
7.78%
8.26%
Nominal
Interest
Rate
0.62%
3.29%
4.69%
8.00%
7.75%
9.31%
0.01%
Current
Maturity
Three to
twelve
months
ThUS$
7,608
11,237
7,949
Total
Current
12-31-
2021
ThUS$
8
13,216
15,061
13,576
22,589
34,003
764
362
844
482
One to
three
months
ThUS$
2
5,608
3,824
5,627
11,414
80
120
One to
two years
ThUS$
22
2,715
2,603
10,888
22,917
674
1,710
Two to
three
years
ThUS$
11
2,719
556
8,466
17,467
658
925
Non-Current
Maturity
Three to
four years
ThUS$
Four to
five years
ThUS$
More than
five years
ThUS$
Total Non-
Current
12-31-
2021
ThUS$
33
22,299
3,247
93,970
-
2,659
88
7,589
15,434
638
877
-
-
2,625
11,581
-
59,773
-
7,254
14,662
618
827
150,720
221,200
8,806
4,578
11,394
8,917
26,675
50,515
77,190
41,529
30,802
27,285
25,986
235,458
361,060
Current
Maturity
One to
three
months
ThUS$
25
7,031
2,787
1,836
7,332
29
10
Three to
twelve
months
75
13,852
8,399
3,984
15,333
86
10
Total
Current
12-31-
2020
ThUS$
100
20,883
11,186
5,820
22,665
115
20
Non-Current
Maturity
One to
two
years
ThUS$
22
6,804
11,328
2,644
14,310
56
-
Two to
three
years
ThUS$
29
2,634
2,383
2,254
11,040
56
-
Three to
four years
ThUS$
Four to
five years
ThUS$
More than
five years
ThUS$
14
2,541
264
2,016
8,874
56
-
-
2,494
88
1,836
8,194
56
-
-
11,431
-
14,460
7,278
1,794
-
Total Non-
Current
12-31-
2020
ThUS$
65
25,904
14,063
23,210
49,696
2,018
-
19,050
41,739
60,789
35,164
18,396
13,765
12,668
34,963
114,956
NOTE 21. Risk management policy
The Group companies follow the guidelines of the Risk Management Control System (SCGR) defined at the Holding level (Enel
S.p.A.), which establishes rules for managing risks through the respective standards, procedures, systems, etc., applicable to
the different levels of the Group companies in the ongoing business risk identification, analysis, evaluation, treatment, and
communication processes. These are approved by the Enel S.p.A. Board of Directors, which includes a Risk and Controls
Committee responsible for supporting the Enel Américas Board’s evaluation and decisions regarding internal control and risk
management system, as well as those related to the approval of periodic financial statements.
To comply with this, each Company has its own specific Control Management and Risk Management policy, which is reviewed and
approved at the beginning of each year by the Enel Américas Board of Directors, observing and applying all local requirements
in terms of the risk culture.
The Company seeks protection against all risks that could affect the achievement of the business objectives. In January 2020,
a new risk taxonomy has been approved for the Enel Group, which considers 6 macro-categories and 37 sub-categories.
The Enel Group risk management system considers three lines of action (defense) to obtain effective and efficient risk
management and controls. Each of these three “lines” plays a different role within the organization’s broader governance
structure (Business and Internal Control areas acting as the first line, Risk Control as the second line, and Internal Audit as
the third line of defense). Each line of defense has the obligation to report to and keep senior management and the Directors
up-to-date on risk management. In this sense, the first and second lines of defense report to the senior management, and
the second and third lines report to the Enel Américas Board of Directors.
Within each of the Group’s companies, the risk management is decentralized. Each manager responsible for the operating
process in which the risk arises is also responsible for treating the risk and adopting risk control and mitigating measures.
482
Integrated Annual Report Enel Américas 2021
21.1 Interest rate risk
Changes in interest rates affect the fair value of assets and liabilities bearing fixed interest rates, as well as the expected future
cash flows of assets and liabilities subject to floating interest rates.
The objective of managing interest rate risk exposure is to achieve a balance in the debt structure to minimize the cost of
debt with reduced volatility in profit or loss.
Depending on the Group’s estimates and the objectives of the debt structure, hedging transactions are performed by
entering into derivatives contracts that mitigate interest rate risk. Derivative instruments currently used to comply with the
risk management policy are interest rate swaps to set floating rate to a fixed rate.
The Group’s financial debt structure per fixed and /or hedged interest rate on gross debt, net of hedging derivative instruments
engaged, is as follows:
12.31.2021
%
31%
12.31.2020
%
38%
Fixed interest rate
Risk control through specific processes and indicators allows companies to limit possible adverse financial impacts and at the
same time, optimize the debt structure with an adequate degree of flexibility. In this sense, the volatility that characterized
the financial markets during the first phase of the pandemic, in many cases went back to pre-COVID-19 levels and was offset
by effective risk mitigation actions using derivative financial instruments.
21.2 Exchange rate risk
Exchange rate risks involve basically the following transactions:
− Debt taken on by the Group’s companies that is denominated in a currency other than the currency in which its cash
flows are indexed.
− Payments to be made in a currency other than that in which its cash flows are indexed for the acquisition of project-
related materials and for corporate insurance policies.
− Income in Group companies directly linked to changes in currencies other than the currency of its cash flows.
− Cash flows from foreign subsidiaries to the Chilean Parent Company which are exposed to exchange rate fluctuations
.
In order to mitigate foreign currency risk, the Group’s foreign currency risk management policy is based on cash flows and
includes maintaining a balance between U.S. dollar flows and the levels of assets and liabilities denominated in such currency.
The objective is to minimize the exposure to variability in cash flows that are attributable to foreign exchange risk.
The hedging instruments currently being used to comply with the policy are currency swaps and forward exchange contracts.
In addition, the policy works to refinance debt in the functional currency of each of the Group’s companies.
During the fourth quarter of 2021, exchange rate risk management continued in the context of complying with the
aforementioned risk management policy, without difficulty to access the derivatives market. It should be noted that the volatility
that characterized the financial markets during the first phase of the pandemic, in many cases went back to pre-COVID-19
levels and was offset by risk mitigation actions through derivative financial instruments.
21.3 Commodities risk
The Group has a risk exposure to price fluctuations in certain commodities, basically due to:
− Purchases of fuel used to generate electricity.
− Energy purchase/sale transactions that take place in local markets.
In order to reduce the risk in situations of extreme drought, the Group has designed a commercial policy that defines the
levels of sales commitments in line with the capacity of its generating power plants in a dry year. It also includes risk mitigation
terms in certain contracts with unregulated customers and with regulated customers subject to long-term tender processes,
establishing indexation polynomials that allow for reducing commodities exposure risk.
Consolidated Financial Statements 483
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Considering the operating conditions faced by the power generation market, with drought and highly volatile commodity
prices on international markets, the Company is constantly evaluating the use of hedging to minimize the impacts that these
price fluctuations have on its results.
As of December 31, 2021, there are no current transactions for the purpose of hedging the contracting portfolio.
As of December 31, 2020, there are no current transactions for the purpose of hedging the contracting portfolio.
Thanks to the mitigation strategies implemented, the Group was able to minimize the effects of basic product price volatility
on the results for the fourth quarter of 2021.
21.4 Liquidity risk
The Group maintains a liquidity risk management policy that consists of entering into long-term committed banking facilities
and temporary financial investments for amounts that cover the projected needs over a period of time that is determined
based on the situation and expectations for debt and capital markets.
Despite the negative working capital existing at the end of 2021, the Company has the capacity to overcome this situation
and mitigate the risk through its liquidity risk policy and actions described herein.
The projected needs mentioned above include maturities of financial debt net of financial derivatives. For further details
regarding the features and conditions of financial obligations and financial derivatives (see Notes 19 and 22).
As of December 31, 2021, the Enel Américas Group has liquidity in the amount of ThUS$ 1,396,253 in cash and other equivalents
and ThUS$ 1,119,278 in unconditionally available long-term credit facilities. As of December 31, 2020, the Enel Américas Group
has liquidity in the amount of ThUS$ 1,506,993 in cash and other equivalents.
21.5 Credit risk
The Group closely monitors its credit risk.
Trade receivables:
The credit risk for receivables from the Group’s commercial activity has historically been very low, due to the short-term
period of collections from customers, resulting in non-significant cumulative receivables amounts. This situation applies to
the electricity generating and distribution lines of business.
In our electricity generating business, some countries’ regulations allow suspending the energy service to customers with
outstanding payments, and most contracts have termination clauses for payment default. The Company monitors its credit
risk on an ongoing basis and measures quantitatively its maximum exposure to payment default risk, which, as stated above,
is very low.
Regarding our electricity distribution companies, the companies always have the right to cut off supply to customers for non-
compliance. This is performed in accordance with local regulations by each country, which facilitates the process of evaluation
and monitoring of credit risk, which is low. However, the supply cutoff due to lack of payment by vulnerable customers was
suspended during the COVID-19 pandemic in all the countries where Enel Américas operates. In Argentina, in accordance
with to Decree 311/2020 of March 24, 2020, supply cuts are still suspended. In Brazil, cuts have resumed by the 4 distribution
companies, including in Rio de Janeiro, where supply cuts were resumed on July 1, 2021 (when Law No. 8,769/20 expired).
However, in accordance with Resolutions No. 878 dated March 24, 2020, and ANEEL No. 928 dated March 26, 2020, electricity
cuts to low-income customers were prohibited until December 31, 2021. In Colombia, cutoffs to low-income customers were
prohibited in accordance with Decrees Nos. 417 and 457, dated March 17, 2020. In Peru, this was also the case, in accordance
with Decree 35/20 dated April 3, 2020. Through the present date, in both countries, supply cutoffs for non-compliance by
customers have resumed as usual.
Regarding the impact of COVID-19, the results of specific internal analysis did not reveal significant statistical correlations
between the main economic indicators (GDP, unemployment rate, etc.) and solvency.
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Financial assets:
Cash surpluses are invested in the highest-rated local and foreign financial entities (with risk rating equivalent to investment
grade where possible) with thresholds established for each entity.
Banks that have received investment grade ratings from the three major international rating agencies (Moody’s, S&P, and Fitch)
are selected for making investments.
Investments may be backed with treasury bonds from the countries in which the company operates and/or with commercial
papers issued by the highest rated banks; the latter are preferable as they offer higher returns (always in line with current
investment policies).
It is noted that the downturn in the macroeconomic scenario due to COVID-19 had no significant impact on the counterparties’
credit quality.
21.6 Risk measurement
The Group measures the Value at Risk (VaR) of its debt positions and financial derivatives in order to monitor the risk assumed
by the Company, thereby reducing volatility in the statement of income.
The portfolio of positions included for purposes of calculating the present Value at Risk include:
− Financial debt.
− Hedging derivatives for debt.
The VaR determined represents the potential variation in value of the portfolio of positions described above in a quarter with
a 95% confidence level. To determine the VaR, we take into account the volatility of the risk variables affecting the value of
the portfolio of positions, including:
− U.S. dollar LIBOR interest rate.
− The different currencies with which our companies operate and the customary local indices used in the banking industry.
− The exchange rates of the various currencies used in the calculation.
The calculation of VaR is based on generating possible future scenarios (one quarter) of market values for the risk variables
based on scenarios based on actual observations for the same period (one quarter) during five years.
The quarter 95% confidence VaR number is calculated as the 5% percentile most adverse of the quarterly possible fluctuations.
Taking into consideration the assumptions previously described, the quarter VaR of the previously discussed positions was
ThUS$ 559,901.
This value represents the potential increase of the Debt and Derivatives’ Portfolio, thus these VaR are inherently related, among
other factors, to the Portfolio’s value at each quarter end.
Consolidated Financial Statements 485
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NOTE 22. Financial instruments
22.1 Financial instruments, classified by type and category
a) The detail of financial assets, classified by type and category, as of December 31, 2021 and 2020, is as follows:
December 31, 2021
Financial assets at
fair value through
profit or loss
ThUS$
-
2,483
156,174
158,657
-
-
48,426
3,004,421
3,052,847
3,211,504
Financial assets
measured at
amortized cost
ThUS$
3,784,900
-
123,167
3,908,067
-
724,877
-
294,695
1,019,572
4,927,639
Financial assets
at fair value
through other
comprehensive
income
ThUS$
Hedging financial
derivatives
ThUS$
-
-
-
-
2,155
-
-
-
2,155
2,155
-
30,206
-
30,206
-
-
123,479
-
123,479
153,685
December 31, 2020
Financial assets at
fair value through
profit or loss
ThUS$
Financial assets
measured at
amortized cost
ThUS$
Financial assets
at fair value
through other
comprehensive
income
ThUS$
Hedging financial
derivatives
ThUS$
-
37,420
119,704
157,124
-
-
148
2,493,609
2,493,757
2,650,881
3,281,885
-
24,110
3,305,995
-
578,556
-
267,351
845,907
4,151,902
-
-
-
-
268
-
-
-
268
268
-
49,045
-
49,045
-
-
29,487
-
29,487
78,532
Trade and other accounts receivable
Derivative instruments
Other financial assets
Total Current
Equity instruments
Trade and other accounts receivable
Derivative instruments
Other financial assets
Total Non-Current
Total
Trade and other accounts receivable
Derivative instruments
Other financial assets
Total Current
Equity instruments
Trade and other accounts receivable
Derivative instruments
Other financial assets
Total Non-Current
Total
b) The detail of financial liabilities, classified by type and category, as of December 31, 2021 and 2020, is as follows:
Interest-bearing loans
Trade and other accounts payable
Derivative instruments
Other financial liabilities
Total Current
Interest-bearing loans
Trade and other accounts payable
Derivative instruments
Other financial liabilities
Total Non-Current
Total
Financial liabilities at fair value
through profit or loss
ThUS$
-
-
4,457
2,197
6,654
-
-
5,015
-
5,015
11,669
December 31, 2021
Financial liabilities measured at
amortized cost
ThUS$
1,181,392
5,806,997
-
60,687
7,049,076
4,905,270
3,836,795
-
187,891
8,929,956
15,979,032
Hedging financial derivatives
ThUS$
-
-
44,788
-
44,788
-
-
7,298
-
7,298
52,086
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Financial liabilities at fair value
through profit or loss
ThUS$
Financial liabilities measured at
amortized cost
ThUS$
Hedging financial derivatives
ThUS$
December 31, 2020
Interest-bearing loans
Trade and other accounts payable
Derivative instruments
Other financial liabilities
Total Current
Interest-bearing loans
Trade and other accounts payable
Other financial liabilities
Total Non-Current
Total Non-current
Total
-
-
6,202
3,240
9,442
-
-
-
-
-
9,442
1,815,160
4,649,782
-
51,495
6,516,437
3,837,697
2,205,194
-
91,070
6,133,961
12,650,398
-
-
528
-
528
-
-
9
-
9
537
22.2 Derivative instruments
The risk management policy of the Group uses primarily interest rate and foreign exchange rate derivatives to hedge its
exposure to interest rate and foreign currency risks.
The Company classifies its hedges as follows:
− Cash flow hedges: Those that hedge the cash flows of the underlying hedged item.
− Fair value hedges: Those that hedge the fair value of the underlying hedged item.
− Non-hedge derivatives: Financial derivatives that do not meet the requirements established by IFRS to be designated as
hedging instruments are recognized at fair value through profit or loss (financial assets held for trading).
a) Assets and liabilities for hedge derivative instruments
As of December 31, 2021 and 2020, financial derivative operations, which qualify as hedging instruments, involved recognizing
assets and liabilities in the statement of financial position according to the following detail:
December 31, 2021
Current
ThUS$
Non-Current
ThUS$
Current
ThUS$
December 31, 2020
Current
ThUS$
Non-
Current
ThUS$
Current
ThUS$
Non-
Current
ThUS$
Non-
Current
ThUS$
4,473
18
18
-
18,866
5,369
306
18,416
4,671
5,369
-
-
-
14,195
-
4,473
306
18,416
-
-
-
32,671
153,039
43,876
7,840
86,159
11,219
6,730
32,671
119,354
43,876
7,314
51,661
11,219
6,716
-
33,685
-
526
34,498
-
14
32,689
171,905
49,245
12,313
86,465
29,635
6,730
-
-
-
9
9
-
9
Interest rate
hedge:
Cash flow
hedge
Fair value
hedge
Exchange
rate hedge:
Cash flow
hedge
Fair value
hedge
Total
Consolidated Financial Statements 487
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- General Information Related to Hedging Derivative Instruments
Hedging derivative instruments and their corresponding hedged instruments are shown in the following table:
Type of hedge instrument
SWAP
SWAP
SWAP
SWAP
SWAP
FORWARD
FORWARD
FORWARD
FORWARD
FORWARD
Description of
hedged risk
Interest rate
Interest rate
Exchange rate
Exchange rate
Exchange rate
Exchange rate
Exchange rate
Exchange rate
Exchange rate
Exchange rate
Description of hedged
item
Bank loans
Unsecured obligations
(bonds)
Unsecured obligations
(bonds)
Bank loans
Dividends receivable
Operational Income
Bank loans
Unsecured obligations
(bonds)
Factoring
Investments in Property,
Plant and Equipment
Fair value of
hedged item
12-31-2021
ThUS$
Fair value of
hedged item
12-31-2020
ThUS$
15,450
-
(2,463)
118,202
1,470
(2,832)
12,118
8
1,083
53,221
-
3,682
56,494
-
(2,725)
(802)
(509)
-
-
As of December 31, 2021 and 2020, the Group has not recognized significant gains or losses for ineffective cash flow hedges.
For fair value hedges, the gain or losses on the hedging derivative instrument and on the underlying hedged item recognized
for the years ended December 31, 2021, 2020 and 2019, is detailed in the following table:
Hedging derivative
instrument
Underlying
hedged item
Total
December 31, 2021
December 31, 2020
December 31, 2019
Gains
ThUS$
43,715
-
43,715
Losses
ThUS$
-
400
400
Gains
ThUS$
26,570
-
26,570
Losses
ThUS$
-
316
316
Gains
ThUS$
1,618
381
1,999
Losses
ThUS$
-
-
-
b) Financial derivative instruments assets and liabilities at fair value through profit or loss
As of December 31, 2021 and 2020, financial derivative transactions recognized at fair value through profit or loss, resulted
in the recognition of the following assets and liabilities in the statement of financial position:
December 31, 2021
December 31, 2020
Assets
Liabilities
Assets
Liabilities
Current
ThUS$
3
Non-
Current
ThUS$
-
Current
ThUS$
2,197
Non-
Current
ThUS$
-
Current
ThUS$
1,321
Non-
Current
ThUS$
-
Current
ThUS$
3,240
Non-
Current
ThUS$
-
Non-hedging derivative
instrument (1)
(1) Correspond to forward contracts entered into by the Group mainly to hedge foreign exchange risk related to dividends received or to be received
from its foreign subsidiaries. Although, the hedge relationship has economic substance, they do not comply with all the hedging documentation
requirements set forth by IFRS 9 Financial Instruments to qualify for hedge accounting. c)
The following table sets forth the fair value of hedging and non-hedging derivatives entered into by the Group as well as the remaining contractual
maturities as of December 31, 2021 and 2020:
Other information on derivatives:
488
Integrated Annual Report Enel Américas 2021
c) Other information on derivatives:
The following table sets forth the fair value of hedging and non-hedging derivatives entered into by the Group as well as the remaining contractual
maturities as of December 31, 2021 and 2020:
Financial Derivatives
Interest rate hedge:
Cash flow hedge
Fair value hedge
December 31, 2021
Notional amount
Fair value
ThUS$
Less than 1
year
ThUS$
1 - 2 years
ThUS$
2 - 3 years
ThUS$
3 - 4 years
ThUS$
9,042
(680)
9,722
8,000
8,000
-
8,000
8,000
-
59,967
59,967
-
Exchange rate hedge:
133,994 1,060,472
331,249
669,209
Cash flow hedge
Fair value hedge
Derivatives not designated for
hedge accounting
100,835
1,060,472
319,504
661,977
33,159
(2,194)
-
11,745
289,404
-
7,232
-
More than
five years
ThUS$
251,830
251,830
-
73,595
69,081
4,514
-
Subsequent
ThUS$
177,021
177,021
-
Total
ThUS$
512,818
512,818
-
125,454
2,447,647
100,629
2,393,458
24,825
54,189
-
289,404
8,000
8,000
-
187,668
181,795
5,873
-
Total
140,842
1,357,876
339,249
729,176
195,668
325,425
302,475 3,249,869
December 31, 2020
Notional Amount
1 - 2 years
ThUS$
2 - 3 years
ThUS$
3 - 4 years
ThUS$
More than
five years
ThUS$
Financial Derivatives
Interest rate hedge:
Cash flow hedge
Fair value hedge
Exchange rate hedge:
Cash flow hedge
Fair value hedge
Derivatives not designated for
hedge accounting
Fair value
ThUS$
18,722
-
18,722
90,639
56,155
34,484
(1,919)
Less than 1
year
ThUS$
-
-
-
833,438
771,860
61,578
50,601
-
-
-
-
-
-
87,972
87,972
76,972
76,972
-
-
-
-
Total
107,442
884,039
87,972
76,972
Subsequent
ThUS$
Total
ThUS$
153,944
153,944
153,944
153,944
-
-
-
-
-
-
998,382
936,804
61,578
50,601
153,944 1,202,927
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
The contractual maturities of hedging and non-hedging derivatives do not represent the Group’s total risk exposure, as the amounts presented in
the above tables have been drawn upon based on undiscounted contractual cash inflows and outflows for their settlement.
22.3 Fair value hierarchies
Financial instruments recognized at fair value in the consolidated statement of financial position are classified based on the hierarchies described in
Note 3.h.
The following table presents financial assets and liabilities measured at fair value as of December 31, 2021 and 2020:
Financial Instruments Measured at Fair Value
Financial Assets :
Financial derivatives designated as cash flow hedge
Financial derivatives designated as fair value hedge
Financial derivatives not designated for hedge accounting
Financial assets at fair value through other comprehensive income
Financial assets at fair value through profit or loss
Total
Financial Liabilities:
Financial derivatives designated as cash flow hedge
Financial derivatives designated as fair value hedge
Financial derivatives not designated for hedge accounting
Total
Fair Value Measured at End of Reporting Period Using:
12-31-2021
ThUS$
Level 1
ThUS$
156,712
47,882
3
2,155
-
-
-
-
Level 2
ThUS$
156,712
47,882
3
2,155
3,160,593
3,367,345
182,365
182,365
2,978,228
3,184,980
56,559
4,999
2,197
63,755
-
-
-
-
56,559
4,999
2,197
63,755
Level 3
ThUS$
-
-
-
-
-
-
-
-
-
-
Consolidated Financial Statements 489
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Financial Instruments Measured at Fair Value
Financial Assets :
Financial derivatives designated as cash flow hedge
Financial derivatives designated as fair value hedge
Financial derivatives not designated for hedge accounting
Financial assets at fair value through other comprehensive income
Financial assets at fair value through profit or loss
Total
Financial Liabilities:
Financial derivatives designated as cash flow hedge
Financial derivatives designated as fair value hedge
Financial derivatives not designated for hedge accounting
Total
Fair Value Measured at End of Reporting Period Using:
12-31-2020
ThUS$
Level 1
ThUS$
Level 2
ThUS$
62,878
53,222
1,321
268
-
-
-
-
143,843
143,843
2,468,149
2,585,838
-
-
-
-
6,725
14
3,240
9,979
Level 3
ThUS$
-
-
-
-
-
-
-
-
-
-
62,878
53,222
1,321
268
2,611,992
2,729,681
6,725
14
3,240
9,979
NOTE 23. Current and non-current payables
The detail of Trade and Other Current Payables as of December 31, 2021 and 2020 is as follows:
Trade and Other Payables
Trade payables
Energy suppliers
Fuel and gas suppliers
Payables for goods and services
Payables for assets acquisitions
Sub total
Other payables
Dividends payable to third parties
Payables to CAMMESA (1)
Penalties and complaints (2)
Research and development obligations
Taxes payables other than income tax
Accounts payables to employees
PIS/COFINS on VAT (payable to consumers) (3)
Regulatory Liabilities Brazilian Subsidiaries (4)
Agreement Enel Distribución Sao Paulo with Eletrobras (5)
Other payables
Sub total
Total
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
1,175,753
9,619
1,484,387
147,574
2,817,333
43,302
626,696
23,109
112,083
60,840
150,627
411,066
399,238
67,351
200,485
2,094,797
4,912,130
1,323,617
24,621
1,071,248
49,332
2,468,818
145,875
337,317
18,817
154,595
40,916
154,269
211,611
418,680
68,501
74,177
1,624,758
4,093,576
77,349
-
20,921
-
98,270
-
14,996
37,638
31,411
210
874
2,252,434
170,147
65,310
17,777
2,590,797
2,689,067
100,517
-
3,155
10,990
114,662
-
27,475
56,013
40,925
672
1,136
1,474,165
186,946
134,925
24,556
1,946,813
2,061,475
Note 21.4 for the description of the liquidity risk management policy.
(1) As of December 31, 2021 our subsidiary Edesur includes ThUS$ 614,171 of accounts payable for purchases of electricity from CAMMESA (ThUS$
320,918 as of December 31, 2020). Additionally, a total of ThUS$ 27,521 (ThUS$ 43,874 as of December 31, 2020) is included for mutual contracts
and assignment of collateral credits signed with CAMMESA for (i) financing of operational needs that cannot be postponed for the operation and
of the generating plant in our subsidiary Enel Generación Costanera; (ii) financing the maintenance needs of the turbo generators at our subsidiary
Dock Sud; and (iii) the financing of the extraordinary investment plan in our subsidiary Edesur.
(2) Correspond mainly to fines and complaints for the current and previous years, that our subsidiary Edesur S.A. has received from the regulating
entity due to commercial service quality, quality of the technical product and public road safety. These fines have not been paid, since some are
suspended by the Agreement Declaration signed in 2007 with the Argentine government. The value of these fines is updated in line with the
changes in Distribution Added Value due to the tariff adjustments. As of December 31, 2021, ThUS$ 31,328 (ThUS$ 38,007 as of December 31, 2020)
is included as a result of the application of ENRE Resolution No. 1/2016.
(3) See Note 8, discussing the recoverable PIS/COFINS Taxes.
(4) See Note 8(ii).
(5) This corresponds to an agreement between Enel Distribución Sao Paulo and Eletrobrás ending a lawsuit between both parties dating from 1986.
This agreement will be paid over a five-year period ending in June 2023.
The detail of trade payables, both up to date and past due as of December 31, 2021 and 2020 are presented in Appendix 4.
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Integrated Annual Report Enel Américas 2021
NOTE 24. Provisions
a) The detail of provisions as of December 31, 2021 and 2020, is as follows:
Provisions
Provisions for legal proceedings (*)
Decommissioning or restoration (**)
Provision for environmental issues
Other provisions (***)
Total
(*) The main contingencies are disclosed in Note 34,3,
Current
Non-Current
12.31.2021
ThUS$
12.31.2020
ThUS$
12.31.2021
ThUS$
12.31.2020
ThUS$
132,850
18,736
720
12,538
164,844
192,411
22,635
600
4,779
220,425
698,346
95,300
440
44,733
838,819
748,640
69,959
7,072
8,229
833,900
(**) As of December 31, the decommissioning provisions arise mainly from the effects of the Colombian subsidiary Emgesa, for the electrical
appliances of the Quimbo plant with a dismantling date of 2066, and other effects from companies of renewable energy from Brazil,
(***) The increase noted in 2021 is mainly due to the recognition of provisions of US$12,901 associated with a restructuring plan in our subsidiaries
in Brazil and Colombia, in accordance with the Group’s digitization strategy, These provisions were recognized under the item “Other employee
expenses” (see Note 29),
The expected timing and amount of any cash outflows related to the above provisions is uncertain and depends on the final
resolution of the related matters
b) Movements in provisions as of December 31, 2021 and 2020, are as follows:
Provisions
Movements in Provisions
Balance as of January 1, 2021
Increase (decrease) in existing provisions
Acquisition through business combinations
Provision used
Increase from adjustment to time value of
money
Foreign currency translation
Transfer to P&L
Total Movements in Provisions
Balance as of December 31, 2021
Provisions
Movements in Provisions
Balance as of January 1, 2020
Increase (decrease) in existing provisions
Provision used
Increase from adjustment to time value of
money
Foreign currency translation
Transfer to P&L
Total Movements in Provisions
Balance as of December 31, 2020
Legal Proceedings
ThUS$
Decommissioning
or Restoration
ThUS$
Environmental
Issues and Other
Provisions
ThUS$
941,051
100,104
437
(141,022)
83,700
(84,135)
(68,939)
(109,855)
831,196
92,594
22,773
24,966
(11,771)
(179)
(14,347)
-
21,442
114,036
20,680
38,913
4,747
-
119
(6,028)
-
37,751
58,431
Legal Proceedings
ThUS$
Decommissioning
or Restoration
ThUS$
Environmental
Issues and Other
Provisions
ThUS$
1,122,551
199,922
(120,184)
84,576
(243,627)
(102,187)
(181,500)
941,051
129,309
(26,906)
(6,654)
3,514
(6,529)
(140)
(36,715)
92,594
10,519
8,860
(748)
1,623
441
(15)
10,161
20,680
Total
1,054,325
161,790
30,150
(152,793)
83,640
(104,510)
(68,939)
(50,662)
1,003,663
Total
1,262,379
181,876
(127,586)
89,713
(249,715)
(102,342)
(208,054)
1,054,325
Consolidated Financial Statements 491
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NOTE 25. Post-employment benefit obligations
25.1 General information
The Company and certain of its subsidiaries in Brazil, Colombia, Peru and Argentina granted various post-employment benefits
for all or certain of their active or retired employees. These benefits are calculated and recognized in the financial statements
according to the policy described in Note 3.m.1, and include primarily the following:
a) Defined benefit plans:
• Complementary pension: The beneficiary is entitled to receive a monthly amount that supplements the pension obtained
from the respective social security system.
• Health Plan: Pursuant to collective bargaining agreements, the companies provide a health plan to their employees. This
benefit is granted to employees in the Brazilian (Enel Distribución Goiás, Enel Distribución Rio and Enel Distribución Ceará)
and Colombian (Emgesa and Codensa) companies.
b) Other benefits
Five-year benefit: A benefit certain employees receive after 5 years and which begins to accrue from the second year onwards.
This benefit is provided to Emgesa and Codensa employees.
Employee severance indemnities: The beneficiary receives a certain number of contractual salaries upon retirement. Such benefit
is subject to a vesting minimum service requirement period of 5 years. This benefit is provided to Enel Américas employees.
Unemployment: A benefit paid regardless of whether the employee is fired or leaves voluntarily. This benefit is accrued on
a daily basis and is paid at the time of contract termination (although the law allows for partial withdrawals for housing and
education). This benefit is provided to Emgesa and Codensa employees.
Seniority bonuses in Peru: There is an agreement to give employees (“subject to the collective bargaining agreement”) an
extraordinary bonus for years of service upon completion of the equivalent of five years of actual work based on the following:
Years of Service
For completing 5, 10 and 15 years
For completing 20 years
For completing 25, 30, 35 & 40 years
Benefit
1 basic monthly remuneration
1 ½ basic monthly remuneration
2 ½ basic monthly remunerations
Education and Energy Plans: According to the collective bargaining Agreement, the Colombian companies Emgesa and
Codensa grant education and electricity discount rates to their employees.
c) Defined contribution benefits:
The Group makes contributions to a retirement benefit plan where the beneficiary receives additional pension supplements
upon his/her retirement, disability or death.
492
Integrated Annual Report Enel Américas 2021
25.2 Details, changes and presentation in financial statements
a) The post-employment obligations associated with defined benefits plans and the related plan assets as of December 31,
2021 and 2020:
General ledger accounts:
Post-employment obligations
(-) Plan assets (*)
Total
Amount not recognized due to limit on Plan Assets Ceiling (**)
Minimum funding required (IFRIC 14) (***)
Total Post-Employment Obligations, Net (i)
Reconciliation with general ledger accounts:
Pension plans
Health plans
Other plans
Total Post-Employment Obligations, Net
Balance as of
12-31-2021
ThUS$
3,357,838
(1,962,668)
1,395,170
23,804
4,507
12-31-2020
ThUS$
3,706,545
(2,097,081)
1,609,464
14,753
-
1,423,481
1,624,217
Balance as of
12-31-2021
ThUS$
1,323,388
73,080
27,013
12.31.2020
ThUS$
1,489,472
106,242
28,503
1,423,481
1,624,217
(*) Plan assets to fund defined benefit plans only in our Brazilian subsidiaries (Enel Distribución Rio S.A., Enel Distribución Ceará S.A., Enel
Distribución Sao Paulo S.A. and Enel Distribución Goiás).
(**) In Enel Distribución Ceará S.A., certain pension plans currently have an actuarial surplus amounting to ThUS$ 23,804 as of December 31, 2021
(ThUS$ 14,753 as of December 31, 2020), which actuarial surplus was not recognized as an asset in accordance with IFRIC 14 - The Limit on a
Defined Benefit Asset, Minimum Funding Requirements and their Interaction, because the Complementary Social Security (SPC) regulations - CGPC
Resolution No. 26/2008 states that the surplus can only be used by the sponsor if the contingency reserve on the balance sheet of Faelce (an
institution providing pension funds exclusively to employees and retired employees of Enel Distribución Ceará S.A.) is at the maximum percentage
(25% of reserves). This ensures the financial stability of the plan based on the volatility of these obligations. If the surplus exceeds this limit, it may be
used by the sponsor to reduce future contributions or be reimbursed to the sponsor.
(***) In Enel Distribución Rio S.A., an additional liability has been recognized in accordance with the provisions of IFRIC 14 - The Limit on a Defined
Benefit Asset, Minimum Funding Requirements and their Interaction as of December 31, 2021 in the amount of ThUS$ 4,507. This corresponds
to actuarial debt contracts that the company signed with Brasiletros (an institution providing pension funds exclusively to employees and retired
employees of Enel Distribución Rio S.A.). This was done to equalize deficits on certain pension plans, since the sponsor assumes responsibility for
these plans, in accordance with current legislation.
b) The following amounts were recognized in the consolidated statement of comprehensive income for the years ended
December 31, 2021, 2020 and 2019:
Expense Recognized in the Statement of Comprehensive Income
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2019
ThUS$
Current service cost for defined benefits plan
Interest cost for defined benefits plan
Interest income from the plan assets
Past Service Costs
Defined benefit plan obligation reductions
Interest cost on asset ceiling components
Total expenses recognized in Profit or Loss
(Gains) losses from remeasurement of defined benefit plans
Total expense recognized in Comprehensive Income
383
248,864
(139,319)
-
-
1,032
110,960
(9,312)
101,648
6,278
276,103
(174,136)
(18,949)
(69,859)
2,936
22,373
476,805
499,178
11,255
357,751
(251,095)
(8,643)
-
2,016
111,284
576,143
687,427
The gain from specific benefit plans is mainly due to an adjustment of the discount rate that the Group applied at the end of
the fourth quarter of 2021. This change in actuarial assumptions (of more than 100 basis points in Brazil and Colombia) arose
from changes in the macroeconomic and financial environment due to the COVID-19 pandemic (see Notes 2.3 and 34.5)
Consolidated Financial Statements 493
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c) The rollforward of net actuarial liabilities as of December 31, 2021 and 2020, are as follows:
Net Actuarial Liability
Opening balance as of 01-01-2020
Net interest cost
Service cost
Benefits paid
Contributions paid
Actuarial (gains) losses from changes in financial assumptions
Actuarial (gains) losses from changes in experience adjustments
Return on plan assets, excluding interest
Changes in the asset limit
Minimum finding required (IFRIC 14)
Past service credit defined benefit plan obligations (*)
Transfer of employees
Foreign currency translation differences
Transfer to financial debt (*)
Defined benefit plan obligation reductions (*)
Closing balance as of 12-31-2020
Net interest cost
Service cost
Benefits paid
Contributions paid
Actuarial (gains) losses from changes in financial assumptions
Actuarial (gains) losses from changes in experience adjustments
Return on plan assets, excluding interest
Changes in the asset limit
Minimum finding required (IFRIC 14)
Defined benefit plan obligations from business combinations
Transfer of employees
Foreign currency translation differences
Transfer to financial debt (*)
Closing balance as of 12-31-2021
(*) Voluntary Pension migration to the new defined contribution plan.
ThUS$
1,836,362
104,903
6,278
(10,602)
(133,195)
33,096
568,564
(97,592)
(26,886)
(377)
(18,949)
226
(390,993)
(176,759)
(69,859)
1,624,217
110,577
383
(5,412)
(174,315)
(709,016)
678,492
7,213
9,344
4,655
1,237
1,439
(119,699)
(5,634)
1,423,481
On April 13, 2020, our subsidiary Enel Distribución Sao Paulo approved the regulatory reform to the complementary retirement
and pensions plan (hereinafter “PSAP”), which was effective from May 1, 2020, for the purpose of closing access to new plan
participants. Additionally, and together with the National Superintendence of Complementary Pensions (“PREVIC”), it approved
of a voluntary migration process to a new Defined Contribution Plan (hereinafter, “CD II plan”), exclusively for the employees
belonging to the PSAP. The migration consisted of the transfer of participants from a defined benefit plan (PSAP) to a defined
contribution plan (CD II plan), which also generates a programmed withdrawal option (as opposed to life annuities as in the
PSAP). This voluntary migration process ended on December 31, 2020.
At the end of the process, 21.4% of the PSAP plan participants agreed to voluntarily transfer their savings to the CD II plan.
This migration generated a reduction in the net actuarial liability in the amount of ThUS$ 271,358, which is explained as follows:
• ThUS$ 182,393 (ThUS$ 176,759 registered in December 2020 and ThUS$ 5,634 in December 2021) corresponding to
the portion of the obligation that was transferred to the CD II plan, in the same ratio as the mathematical reserves of the
participants who opted for migration. This transfer was instrumentalized through a new debt contract of an exclusively
financial nature and was reclassified to Other financial liabilities (current and non-current).
• ThUS$ 88,965 corresponding to (i) the net effect of the liquidation produced as a result of the migration, in the amount of
ThUS$ 69,859; and (ii) ThUS$ 19,106 related to past service costs. With the partial migration, all future legal or constructive
obligations, in relation to all or part of the benefits offered by the defined benefits plan, in proportion to the migrated
participants. This effect was recognized as lower personnel expenses in the consolidated statement of income.
The Company will analyze the next steps in the restructuring plan with the final results of the plan, to be authorized by the
competent regulatory authority.
494
Integrated Annual Report Enel Américas 2021
d) The balance and movements in post-employment defined benefit obligations as of December 31, 2021 and 2020 are as
follows:
Actuarial Value of Post-employment Obligations
Opening balance as of 01-01-2020
Current service cost
Interest cost
Contributions from plan participants
Foreign currency translation
Contributions paid
Past service credit defined benefit plan obligations
Transfer of employees
Actuarial (gains) losses from changes in financial assumptions
Actuarial (gains) losses from changes in experience adjustments
Defined benefit plan obligation reductions
Closing balance as of 12-31-2020
Current service cost
Interest cost
Contributions from plan participants
Foreign currency translation
Contributions paid
Past service credit defined benefit plan obligations
Defined benefit plan obligations from business combinations
Transfer of employees
Actuarial (gains) losses from movements in financial assumptions (*)
Closing balance as of 12-31-2021
ThUS$
4,876,960
6,278
276,103
778
(1,075,063)
(294,910)
(18,949)
226
33,096
568,564
(666,538)
3,706,545
383
248,864
271
(259,935)
(310,442)
1,237
1,439
(709,016)
678,492
3,357,838
As of December 31, 2021, the total amount of the actuarial liability corresponds to 0.07% with defined benefit plans in the
Chilean companies (0.08% as of December 31, 2020), 96.67% is from defined benefit plans in Brazilian companies (96.02%
as of December 31, 2020), 2.61% with defined benefit plans in Colombian companies (3.35% as of December 31, 2020), in a
0.51% with defined benefit plans in Argentine companies (0.38% as of December 31, 2020), 0.13% with defined benefit plans
in Peruvian companies (0.17% as of December 31, 2020), and the remaining 0.01% with defined benefit plans in EGP Panama
companies.
Movements in the fair value of the benefit plan assets are as follows:
Fair Value of Plan Assets
Balance as of January 1, 2020
Interest income
Return on plan assets, excluding interest
Foreign currency translation differences
Employer contributions
Benefit paid
Contributions paid
Transfer to financial Debt
Defined benefit plan obligations reductions
Balance as of December 31, 2020
Interest income
Return on plan assets, excluding interest
Foreign currency translation differences
Employer contributions
Benefits paid
Contributions paid
Transfer to Financial Debt
Balance as of December 31, 2021
ThUS$
(3,090,862)
(174,136)
(97,592)
695,254
(133,195)
(778)
284,308
(176,759)
596,679
(2,097,081)
(139,319)
7,213
141,709
(174,315)
(271)
305,030
(5,634)
(1,962,668)
Consolidated Financial Statements 495
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e) The main categories of benefit plan assets are as follows:
12-31-2021
12-31-2020
Category of Plan Assets
Equity instruments
(variable income)
Fixed-income assets
Real estate investments
Other
Total
ThUS$
217,259
1,441,373
67,610
236,426
1,962,668
%
14.50%
74.22%
3.48%
7.80%
100%
ThUS$
206,176
1,774,894
62,392
53,619
2,097,081
%
9.83%
84.64%
2.98%
2.56%
100%
The plans for retirement benefits and pension funds held by our Brazilian subsidiaries, Enel Distribución Rio S.A., Enel Distribución
Ceará, Enel Distribución Goias and Enel Distribución Sao Paulo, maintain investments as determined by the resolutions of
the National Monetary Council, ranked in fixed income, equities and real estate. Fixed income investments are predominantly
invested in federal securities. Regarding equities, i) Faelce (an institution providing pension funds exclusively to employees
and retired employees of Enel Distribución Ceará) holds common shares of Enel Distribución Ceará, ii) Brasiletros (a similar
institution for employees of Enel Distribución Rio), Eletra (an institution pension fund exclusively for employees and retired
staff of Enel Distribución Goias) and Funcesp, (the private pension entity responsible for the administration of the benefit plans
sponsored by Enel Distribución Sao Paulo) hold shares in investment funds with a portfolio traded on Bovespa (the São Paulo
Stock Exchange). Finally, with regard to real estate, the foundations Faelce and Brasiletros have properties that are currently
leased to Enel Distribución Rio and Enel Distribución Ceará, while in Eletra the real estate investments are exclusively for the
own use of the foundation.
The following table sets forth the assets affected by the plans and invested in shares, leases and real estate owned by the Group.
Real Estate
Total
f) Reconciliation of asset ceiling:
Reconciliation of Asset Ceiling
Balance as of January 1, 2020
Interest on assets not recognized
Other changes in assets not recognized due to asset limit
Foreign currency translation differences
Balance as of December 31, 2020
Interest on assets not recognized
Other changes in assets not recognized due to asset limit
Foreign currency translation differences
Total asset ceiling as of December 31, 2021
25.3 Other disclosures:
Actuarial assumptions:
12-31-2021
ThUS$
20,564
20,564
12-31-2020
ThUS$
20,522
20,522
ThUS$
49,780
2,936
(26,886)
(11,077)
14,753
1,032
9,344
(1,325)
23,804
As of December 31, 2021 and 2020, the following assumptions were used in the actuarial calculation of defined benefit plans:
Chile
Brazil
Colombia
Argentina
Perú
12-31-2021
12-31 2020
12-31-2021
12-31 2020
12-31-2021
12-31 2020
12-31-2021
12-31 2020
12-31-2021
12-31 2020
Discount rates used
5.6%
2.55%
Expected rate of salary
increases
Mortality tables
3.80%
3.80%
CB-H-2014 y
RV-M-2014
CB-H-2014 y
RV-M-2014
9.30% -
9.67%
4.52% -
5.04%
4.88% -
7.95%
4.52% -
5.04%
6.94%
5.74%
4.95%
4.85%
50.68% -
51.23%
43.5% -
56.22%
49.36% -
54.46%
37.68% -
42.25%
5.90%
3.50%
4.00%
4.00%
AT 2000
AT 2000
RV 2008
RV 2008 CB-H-2014 y
RV-M-2014
CB-H-2014 y
RV-M-2014
SPP-S-2017
SPP-S-2017
Turnover rate
7.03%
7.25%
6.50%
5.19%
0.29%
0.46%
1.11%
1.26%
5.39%
5.20%
496
Integrated Annual Report Enel Américas 2021
• Sensitivity:
As of December 31, 2021, the sensitivity of the value of the actuarial liability for post-employment benefits to variations of
100 basis points in the discount rate assumes a decrease of ThUS$ 263,184 (ThUS$ 319,395 as of December 31, 2020) in the
event of an increase in the rate and an increase of ThUS$ 287,916 (ThUS$ 379,682 as of December 31, 2020) in the event of
a rate drop.
• Defined contribution:
Contributions made to defined contribution plans are recorded directly under “personnel expenses” in the consolidated
income statement. The amounts recorded for this concept as of December 31, 2021, 2020 and 2019 were ThUS$ 10,619,
ThUS$ 10,689, and ThUS$ 13,419, respectively.
• Future disbursements:
According to the available estimate, the disbursements foreseen (net of assets) to cover the defined benefits plans for next
year amount to ThUS$ 168,397.
• Length of commitments:
The Group’s obligations have a weighted average length of 8-10 years, and the outflows of benefits for the next 10 years and
more is expected to be as follows:
Years
1
2
3
4
5
6 a 10
ThUS$
312,277
301,047
295,841
288,736
284,030
1,317,844
• Multi-employer plans of Enel Distribución Sao Paulo:
FUNCESP is the entity in charge of the benefit plans sponsored by Enel Distribución Sao Paulo. Through negotiations with
representative trade unions, the Company reformulated the plan in 1997, considering as its main characteristic a mixed model
made up by 70% of the actual wage contributed as defined benefit and 30% of the actual wage contributed as established
contribution. The purpose of this reformulation was to consider the actuarial technical deficit and to reduce the risk of future
deficits.
The cost of the defined benefit plan is parity between Enel Distribución Sao Paulo and the employees, according to the
proportions mentioned above. Cost rates vary from 1.45% to 4.22%, depending on the salary range, and are reassessed annually
by an independent actuary. The cost of the defined contribution is based on the percentage freely chosen by the participant
(from 1% to 100% over 30% of the real contribution salary), with a contribution from Enel Distribución Sao Paulo up to the limit
of 5% on the basis 30% of the remuneration of the contribution. (The contributions paid by Enel Distribución Sao Paulo were
ThUS$ 137,917 and ThUS$ 113,203 for the years ended December 31, 2021 and 2020, respectively).
The Settled Proportional Supplementary Benefit (BSPS) guarantees the plan participating employees that adhered to the model
implemented in the Company’s privatization. This benefit will ensure the proportional value corresponding to the previous
service period to the adherence date to the new mixed plan. This benefit will be paid from the date in which the participant
completes the minimum times required under the regulation of the new plan.
Consolidated Financial Statements 497
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NOTE 26. Equity
26.1 Equity attributable to the shareholders of Enel Américas
26.1.1 Subscribed and paid capital and number of shares
The issued capital of the Company for the year ended December 31, 2021 is ThUS$ 15,799,499 divided into 107,281,698,561
authorized, subscribed and paid shares. The issued capital as of December 31, 2020 was ThUS$ 9,763,078 divided into
76,086,311,036 authorized, subscribed and paid shares. All of the shares issued by the Company are subscribed and paid,
and they are listed for trade on the Bolsa de Comercio de Santiago de Chile, the Bolsa Electrónica de Chile, and the New York
Stock Exchange (NYSE).
Treasury shares in portfolio
As of December 31, 2021, the value of treasury shares (1,809,031 shares) amounts to ThUS$272. These shares were acquired
as a result of the merger detailed in Note 5.
Changes in Issued Capital
- Capital Increase in 2019
At an Extraordinary Shareholders’ Meeting of Company held on April 30, 2019, shareholders approved a capital increase for
an amount of ThUS$ 3,000,000 by issuing 18,729,788,686 common shares, no-par value, of the same series. The purpose of
this capital increase was to enable the Company’s subsidiary Enel Brasil to repay a loan provided by Enel Finance International
N.V., which replaced bank debt incurred by Enel Brasil for the acquisition of the Brazilian company Eletropaulo Metropolitana
Eletricidade de Sao Paulo S.A. (currently Enel Distribución Sao Paulo), and to restructure the liabilities of the Enel Distribución
Sao Paulo’s pension funds.
All new common shares were offered preferably to shareholders on a pro rata basis based on the shares they own as of
record in the Enel Américas shareholders registry, over two subscription periods. On June 26, 2019, the Company’s Board of
Directors agreed that the subscription price of the 18,729,788,686 new shares, both in the first and second preemptive right
subscription periods, would be US$ 0.162108214203236 per share.
During the first preemptive rights offering period held between June 27 and July 26, 2019, a total of 18,224,843,129 shares
were subscribed and paid, representing 97.3% of the total of the new shares authorized for issuance under the capital increase
mentioned above, for a total amount of ThUS$ 2,954,397.
During the subsequent rights offering period held between August 6 and August 29, 2019, a total of 408,826,391 shares were
subscribed and paid, representing 80.96% of the total shares not subscribed in the first preemptive rights offer period and
offered in the subsequent period, for a total amount of ThUS$ 66,274.
On September 12, 2019, the Company’s Board of Directors agreed not to place the remaining 96,119,166 shares and charged
them to the capital increase which approximately amounted to 0.51% of the total shares which were pending subscription
and payment after the end of the subsequent rights offering period. Therefore, and in accordance with the agreement of
the Board, once the one-year period beginning April 30, 2019 has elapsed, the Company’s capital will be fully reduced to the
amount actually paid at the expiration of the offerings indicated above.
As a result, during the capital increase process, a total of 18,633,669,520 shares were subscribed and paid for a total amount
of ThUS$ 3,020,671.
- Corporate integration operation of non-conventional, renewable energy generating companies in
Central and South America (except for Chile)
At the extraordinary shareholders’ meeting held on December 18, 2020, the Company approved the following:
(i) The subtraction from the capital raised in the share issuance the placement expenses in the amount of ThUS$ 20,797 (see
Note 26.5.c.8), related to the capital increase process performed in 2019; and
498
Integrated Annual Report Enel Américas 2021
(ii) The proposed merger by incorporation of EGP Américas SpA (“EGP Américas”) into Enel Américas (the “Merger”). By virtue of
this Merger, Enel Américas would acquire all of EGP Américas’ assets and liabilities and succeed into all of EGP Américas’ rights
and obligations, allowing the Company to control and consolidate the ownership of the business and the non-conventional
renewable energy generation assets developed and held by Enel Green Power S.p.A. in Central and South America (except Chile)
.
In order to complete the Merger, the Board approved a capital increase for Enel Américas in the amount of ThUS$ 6,036,421,
through the issuance of 31,195,387,525 new common shares of a single series as existing shares and with no par value. These
shares were subscribed and fully paid for in exchange for the incorporation of the EGP Américas equity, as an absorbed
company, once the Merger becomes effective. For such purpose, 0.41 Enel Américas shares were delivered for each share in
EGP Américas held by EGP Américas’ single shareholder, not considering fractions of shares.
The Merger was effective on April 1, 2021, after all the suspensive and connected conditions precedent agreed upon by the
Shareholders’ Meeting were fulfilled (see Note 5).
Movements in the number of shares of Enel Américas resulting from the corporate reorganization process described above
are detailed as follows:
Number of outstanding shares of the Company prior the Merger
76,086,311,036
Merger with EGP Américas (1)
Shares issued to Enel SpA
Repurchase of shares (2):
Exercise of the right to withdraw by minority shareholders of Enel
Américas
Number of Enel Américas shares outstanding after the merger
Total number of capital shares issued
Total number of treasury shares in portfolio
Number of outstanding shares of the Company after the Merger
Number of shares
Merger Exchange
Ratio
Number of shares
76,086,311,039
0.41
31,195,387,525
(1,809,031)
(1,809,031)
107,219,889,530
107,281,698,561
(1,809,031)
107,279,889,530
(1) The valuation of the capital increase resulting from the merger was ThUS$6,036,421.
(2) The total amount paid for the repurchase of shares was ThUS$272.
26.1.2 Dividends
The following table sets forth the dividends paid in the last three years:
Dividend No.
98
99
100
101
102
103
104
Type of
Dividend
Interim
Final
Interim
Final
Interim
Final
Interim
Agreement
Date
11-26-2018
04-30-2019
11-25-2019
04-30-2020
11-26-2020
04-29-2021
11-25-2021
Payment
Date
01-25-2019
05-17-2019
01-24-2020
05-29-2020
01-29-2021
05-28-2021
01-28-2022
Total ThUS$
76,900
403,652
123,254
683,789
72,992
339,607
93,319
Dollar per
Share
0,00134
0,00703
0,00162
0,00899
0,00096
0,00317
0,00087
Charged to
2018
2018
2019
2019
2020
2020
2021
Consolidated Financial Statements 499
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26.2 Foreign currency translation reserves
The following table sets forth foreign currency translation differences attributable to the shareholders of the Company for the
years ended December 31, 2021, 2020 and 2019:
Reserves for Accumulated Currency Translation Differences (*)
Empresa Distribuidora Sur S.A.
Compañía Distribuidora y Comercializadora de Energía S.A.
Enel Distribución Peru S.A.
Dock Sud S.A.
Enel Brazil S.A.
Enel Generación Costanera S.A.
Emgesa S.A. E.S.P.
Enel Generación El Chocón S.A.
Enel Peru S.A.
Enel Generación Peru S.A.
Enel Generación Piura S.A.
Enel Green Power Brazil Participacoes Ltda
Enel Green Power Colombia
Others
Total
(*) See Note 2.9
26.3 Capital Management
Balance as of December 31,
2021
ThUS$
(807,898)
7,284
(71,619)
(140,018)
(3,299,765)
(149,360)
(195,058)
(414,358)
200,693
(241,258)
(16,933)
54,671
(26,341)
(90,234)
2020
ThUS$
(715,165)
87,339
(7,279)
(122,728)
(2,924,373)
(124,781)
(74,309)
(377,364)
190,007
(168,547)
(4,854)
-
-
2019
ThUS$
(548,877)
111,815
50,466
(93,738)
(1,430,604)
(88,477)
(38,296)
(318,303)
190,030
(94,082)
7,583
-
-
(66,242)
(30,672)
(5,190,194)
(4,308,296)
(2,283,155)
The Company’s objective is to maintain an adequate level of capitalization in order to be able to secure its access to the financial
markets, so as to fulfill its medium- and long-term goals while maximizing the return to its shareholders and maintaining a
robust financial position.
26.4 Restrictions on subsidiaries transferring funds to the parent (equity
note)
The Company has certain subsidiaries that must comply with certain financial ratios or covenants, which require a minimum
level of equity or contain other characteristics that restrict the transfer of assets to the Parent Company. As of December 31,
2021, the company’s participation in the net restricted assets of its subsidiaries Enel Brasil and Enel Perú amount to ThUS$
287,096, ThUS$ 355,286, respectively.
26.5 Other reserves
Other reserves for the years ended December 31, 2021, 2020 and 2019, are as follows:
Foreign currency translation difference (a)
Cash flow hedges (b)
Financial assets at fair value with changes in other comprehensive income
Other miscellaneous reserves (c)
Total
Balance as of
January 1, 2021
ThUS$
Changes in 2021
ThUS$
Balance as of
December 31,
2021
ThUS$
(4,308,296)
(881,898)
(5,190,194)
(9,383)
(692)
(2,754,546)
(7,072,917)
9,809
(5)
(790,250)
(1,662,344)
426
(697)
(3,544,796)
(8,735,261)
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Integrated Annual Report Enel Américas 2021
Foreign currency translation difference (a)
Cash flow hedges (b)
Financial assets at fair value with changes in other comprehensive income
Other miscellaneous reserves (c)
Total
Balance as of
January 1, 2020
ThUS$
Changes in 2020
ThUS$
Balance as of
December 31,
2020
ThUS$
(2,283,155)
(2,025,141)
(4,308,296)
(1,334)
(687)
(3,006,823)
(5,291,999)
(8,049)
(5)
252,277
(1,780,918)
Balance as of
January 1, 2019
ThUS$
Changes in 2019
ThUS$
(9,383)
(692)
(2,754,546)
(7,072,917)
Balance as of
December 31,
2019
ThUS$
Foreign currency translation difference (a)
Cash flow hedges (b)
Financial assets at fair value with changes in other comprehensive income
Other miscellaneous reserves (c)
Total
(1,666,109)
(617,046)
(2,283,155)
(5,094)
(397)
(3,209,283)
(4,880,883)
3,760
(290)
202,460
(411,116)
(1,334)
(687)
(3,006,823)
(5,291,999)
a) Reserves for foreign currency translation differences: These reserves arise primarily from exchange differences relating to:
− Translation of the financial statements of our subsidiaries with functional currencies other than the U.S. dollar (see Note
2.9); and
− Translation of goodwill arising from the acquisition of companies with functional currencies other than the U.S. dollar
(see Note 3.c).
b) Cash flow hedge reserves: These reserves represent the cumulative effective portion of gains and losses on cash flow
hedges (see Note 3.g.5).
c) Other miscellaneous reserves.
− The main items and their effects are the following:
Other Miscellaneous Reserves
Reserve for capital increase in 2013 (1)
Company restructuring reserve (Division) (2)
Reserve for subsidiaries transactions (3)
Reserve for transition to IFRS (4)
Reserve for merger of Endesa Américas and Chilectra Américas with Enel
Américas (5)
Reserve for Tender Offer of Endesa Américas and withdrawal rights (6)
Argentine hyperinflation (7)
Reserve for capital increase in 2019 (8)
Other miscellaneous reserves (9)
Reserve for merger of EGP Américas with Enel Américas (10)
Other miscellaneous reserves (11)
Total
12-31-2021
ThUS$
(1,345,368)
716,712
(456,349)
(1,490,605)
(730,748)
(57,101)
1,149,319
-
(13,944)
(1,259,422)
(57,290)
12-31-2020
ThUS$
(1,345,368)
716,712
(456,349)
(1,490,605)
(730,748)
(57,101)
675,139
-
-
-
12-31-2019
ThUS$
(1,345,368)
716,712
(456,349)
(1,490,605)
(730,748)
(57,101)
446,196
(20,797)
-
-
(66,226)
(68,763)
(3,544,796)
(2,754,546)
(3,006,823)
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1) Reserve originated from the capital increase that the Company made during the first quarter of 2013.
2) Reserve for corporate reorganization (Spin-Offs of companies) completed on March 1, 2016. Corresponds to the effects
from the reorganization of Enersis Américas and the separation of the Chilean business into a new entity, Enel Chile S.A.
3) Reserve from transactions with our subsidiaries. It corresponds to the effect of purchases of equity interests in subsidiaries
that were accounted for as transactions between entities under common control.
4) Reserve for transition to IFRS. In accordance with Official Bulletin No. 456 from the SVS (Superintendencia de Valores y
Seguros de Chile), included in this line item is the price-level restatement of paid-in capital from the date of transition to IFRS,
January 1, 2004 to December 31, 2008.
5) Reserve for merger of Endesa Américas and Chilectra Américas with and into the Company, completed on December 1,
2016. This represents the recognition of the difference between the capital increase in the Company and the carrying amount
of the non-controlling interests that became part of the equity attributable to the owners of Enel Américas after completion
of the Merger. The difference between the fair market value of the consideration received or paid and the amount by which
the non-controlling interests is adjusted is being recognized in equity attributable to the owners of Enel Américas.
6) Reserve for Tender Offer of Endesa Américas and withdrawal rights. This represents the recognition of the difference
between the carrying amount and the price paid for the non-controlling interests acquired in the Tender Offer on Endesa
Américas, which resulted in a charge to other reserves for ThUS$ 56,578. It also, includes ThUS$ 523 related to the recognition
of the difference between the carrying amount and the price paid for the shares of those shareholders who exercised their
withdrawal rights.
7) Corresponds to the effect that our subsidiaries in Argentina have recognized through the application of IAS 29 on equity
accounts.
8) Reserve for capital increase in 2019: As of December 31, 2019, the Company has recorded a charge of ThUS$ 20,797, which
corresponds to expenses for the issuance and placement of shares, determined according to the accounting criteria described
in Note 3.t). In December 2020, this reserve was reclassified and the Company’s capital was reduced (see Note 26.1.1).
9) Reserve for capital increase in 2021: During 2021, the Company recognized a debit in the item “Shared capital and paid-in
capital” of Equity of ThUS$13,944, from share issuance and placement expenses. This debit was calculated according to the
accounting criteria described in Note 3.t). For further information, see Note 26.1.1.
10) Reserve for the merger of EGP Américas with Enel Americas: During 2021, the Company recognized a debit in “Other
miscellaneous reserves” (in Consolidated Equity) of ThUS$1,259,422 as a result of the merger of EGP Americas with Enel
Américas. This referred to business combinations under common control.
11) Other miscellaneous reserves from transactions made in prior years.
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Integrated Annual Report Enel Américas 2021
26.6 Non-controlling Interests
The detail of non-controlling interests as of December 31, 2021, 2020 and 2019, is as follows:
Companies
Enel Distribución Ceará S.A.
Enel Distribución Sao Paulo
Compañía Distribuidora y Comercializadora
de Energía S.A.
Emgesa S.A. E.S.P.
Enel Distribución Perú S.A.
Enel Generacion Perú S.A.
Chinango S.A.C.
Empresa Distribuidora Sur S.A.
Enel Generacion Costanera S.A.
Enel Generacion El Chocón S.A.
Inversora Dock Sud S.A.
Central Dock Sud S.A.
Enel Generacion Piura S.A.
Enel Fortuna S.A.
Tecnoguat, S.A.
Other
Total
Non-controlling interests
Equity
12-31-2021
%
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
Profit (Loss)
12-31-2020
ThUS$
12-31-2019
ThUS$
25.95%
0.00%
51.59%
51.52%
16.85%
16.40%
33.12%
27.91%
24.38%
34.31%
42.86%
29.76%
3.50%
49.95%
25.00%
169,243
170,552
-
-
23,672
-
413,048
513,182
135,660
648,228
117,080
102,212
19,512
194,835
39,390
84,731
79,566
72,396
3,618
242,923
4,276
6,378
779,121
123,704
133,466
20,888
198,054
43,751
97,986
71,077
64,709
4,905
-
-
6,409
235,623
14,350
19,949
7,368
(51,226)
(14,814)
(7,003)
(2,132)
(1,970)
567
33,293
265
50
13,387
-
117,923
178,980
13,131
20,705
6,076
(20,297)
4,248
18,141
1,130
1,271
373
-
-
987
26,753
26,366
129,624
193,449
21,651
20,091
6,318
50,352
14,125
28,142
18,723
18,486
778
-
-
820
2,197,436
2,227,804
393,652
356,055
555,678
NOTE 27. Revenue and other operating income
The detail of revenue presented in the statement of comprehensive income for the years ended December 31, 2021, 2020
and 2019, is as follows:
Revenues
Energy sales (1)
Generation
Regulated customers
Unregulated customers
Spot market sales
Other customers
Distribution
Residential
Business
Industrial
Other customers
Other sales
Gas sales
Other fuel sales
Sales of goods and services
Revenue from other services
Tolls and transmission
Metering equipment leases
Services and Business Advisories provided (Public lighting, connections and
electrical advisories)
Other services
Total revenues
For the years ended December 31,
2021
ThUS$
12,807,702
3,850,268
763,612
1,401,833
1,678,503
6,320
8,957,434
5,477,397
1,978,044
683,424
818,569
48,589
20,690
10,647
17,252
1,678,733
1,393,406
116
187,532
2020
ThUS$
9,655,212
2,144,039
397,653
883,045
852,363
10,978
7,511,173
4,334,457
1,760,922
685,246
730,548
36,968
24,145
6,861
5,962
1,546,796
1,280,994
126
177,818
97,679
14,535,024
87,858
11,238,976
2019
ThUS$
11,282,254
2,091,002
450,145
1,045,965
577,579
17,313
9,191,252
5,038,300
2,302,100
872,531
978,321
58,752
39,815
9,037
9,900
1,712,370
1,433,538
118
191,392
87,322
13,053,376
Consolidated Financial Statements 503
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Other Income
Revenue from construction contracts
Income from Regulatory agreement (2)
Updating of financial assets related to electricity distribution concessions in Brazil
(*)
Other
Total other income
(*)
See Note 2.2.c.
For the years ended December 31,
2021
ThUS$
1,203,370
-
246,750
207,192
1,657,312
2020
ThUS$
807,671
17,842
99,071
2019
ThUS$
770,356
261,185
73,345
128,185
1,052,769
229,195
1,334,081
As of December 31, 2021, an amount of ThUS$ 945,395 is included within this item, which corresponds to estimated and unbilled sales,
(1)
which are related to estimates of energy sold in December 2021. As of December 31, 2020 and 2019, these amounts correspond to ThUS$ 1,051,011
and ThUS$ 803,499, respectively.
(2)
2020: see Note 34.6 (ii) Framework Agreement.
NOTE 28. Raw materials and consumables used
The detail of raw materials and consumables used presented in profit or loss for the years ended December 31, 2021, 2020 and 2019, is as follows:
Raw Materials and Consumables Used
Energy purchases
Fuel consumption
Gas
Oil
Coal
Transportation costs
Costs from construction contracts
Other variable supplies and services
Total Raw Materials and Consumables Used
For the years ended December 31,
2021
ThUS$
(7,711,330)
2020
ThUS$
(5,337,887)
(116,666)
(104,941)
(9,927)
(1,798)
(1,020,192)
(1,186,239)
(416,956)
(10,451,383)
(137,850)
(113,992)
(3,587)
(20,271)
(1,016,486)
(807,671)
(256,021)
(7,555,915)
2019
ThUS$
(6,096,863)
(277,117)
(246,044)
(13,101)
(17,972)
(1,110,921)
(770,356)
(285,766)
(8,541,023)
NOTE 29. Employee benefits expense
The detail of employee expenses for the years ended December 31, 2021, 2020 and 2019, are as follows:
Employee Benefits Expenses
Wages and salaries
Post-employment benefit expense
Social security and other contributions
Other employee expenses (*)
Total Employee Benefits Expenses
(*) See Note 24.
For the years ended December 31,
2021
ThUS$
(438,205)
(11,002)
(238,993)
(41,702)
(729,902)
2020
ThUS$
(390,791)
71,841
(219,754)
(26,342)
(565,046)
2019
ThUS$
(482,009)
(16,031)
(286,459)
(25,254)
(809,753)
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Integrated Annual Report Enel Américas 2021
Assets and groups held for
sale
Reversal (Losses) due to
impairment of Intangibles (see
Note 14)
Reversal (Losses) due to
goodwill impairment (see
Note 15)
Property, plants and
equipment (see Note 16)
Total Reversal of impairment
losses (impairment losses)
recognized in income for the
period
Trade accounts receivable and
other accounts receivable (see
Note 9)
Other assets
Impairment gains and
reversal of impairment
losses (Impairment losses)
determined in accordance
with IFRS 9
Total reversal (losses) due to
Impairment
NOTE 30. Depreciation, amortization and impairment losses of
property, plant and equipment and financial assets under-ifrs 9
a) The detail of depreciation and amortization for the years ended December 31, 2021, 2020 and 2019, is as follows:
Depreciation
Amortization
Total
For the years ended December 31,
2021
ThUS$
(584,723)
(408,373)
(993,096)
2020
ThUS$
(481,634)
(376,465)
(858,099)
2019
ThUS$
(498,867)
(449,463)
(948,330)
b) The detail of the items related to impairment for the years ended December 31, 2021, 2020 and 2019, is as follows:
Information on Impairment
Losses by Reportable Segment
2021
ThUS$
2020
ThUS$
2019
ThUS$
2021
ThUS$
2020
ThUS$
Generation
Distribución
Otros
2020
ThUS$
2019
ThUS$
-
-
-
(89,344)
(89,344)
-
-
-
-
-
-
-
-
(1,307)
(1,307)
-
-
-
-
-
-
-
-
-
-
2019
ThUS$
3,433
-
-
-
2021
ThUS$
-
(750)
(9,963)
-
3,433
(10,713)
-
-
-
-
-
2021
ThUS$
-
(750)
(9,963)
-
-
-
-
(89,344)
-
(100,057)
Total
2020
ThUS$
-
-
-
-
-
2019
ThUS$
3,433
-
-
(1,307)
2,126
(7,207)
(349)
645
(308,439)
(211,289)
(159,909)
(358)
102
14
(316,004)
(211,536)
(159,250)
(1,723)
(8,930)
(585)
(934)
-
(27,117)
(30,251)
(119,325)
645
(335,556)
(241,540)
(279,234)
(328)
(686)
-
102
(550)
(536)
(29,168)
(30,836)
(119,875)
(345,172)
(242,372)
(279,125)
(98,274)
(934)
(662)
(335,556)
(241,540)
(275,801)
(11,399)
102
(536)
(445,229)
(242,372)
(276,999)
NOTE 31. Other expense, by nature
Other miscellaneous operating expenses for the years ended December 31, 2021, 2020 and 2019, are as follows:
Other expenses
Professional, outsourced and other services
Administrative expenses
Repairs and maintenance
Indemnities and fines
Taxes and charges
Insurance premiums
Leases and rental costs
Public relations and advertising
Other supplies and services
Travel expenses
Environmental expenses
Total
For the years ended December 31,
2021
ThUS$
(563,796)
(101,574)
(195,566)
(5,162)
(28,648)
(52,198)
(2,728)
(12,049)
(151,588)
(4,133)
(1,790)
2020
ThUS$
(473,655)
(99,813)
(232,305)
(8,886)
(24,470)
(39,525)
(10,641)
(9,175)
(161,673)
(2,892)
(2,243)
2019
ThUS$
(518,101)
(106,433)
(253,036)
(11,535)
(25,673)
(38,755)
(10,341)
(11,811)
(155,940)
(16,324)
(2,760)
(1,119,232)
(1,065,278)
(1,150,709)
Research expenses are recognized directly in income for the year. The amount of these expenses for the years ended December
31, 2021, 2020 and 2019, amounted to ThUS$ 154, ThUS$ 54 and ThUS$ 86, respectively.
Consolidated Financial Statements 505
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NOTE 32. Financial results
Finance income and costs for the years ended December 31, 2021, 2020 and 2019, are as follows:
Finance Income
Cash and cash equivalents
Financial income on plan assets (Brazil) (1)
Interest collected to customers on energy bills and invoices
Other financial income (2)
Total financial income
Finance Costs
Finance Costs
Bank loans
Bonds payable
Lease obligations
Valuation of financial derivatives
Financial restatement of provisions (3)
Capitalized finance expenses
Post-employment benefit obligations (1)
Formalization of debt and other associated expenses
Financial expenses - related parties (4)
Other financial costs (5)
Gains (losses) from indexed assets and liabilities (*)
For the years ended December 31,
2021
ThUS$
64,812
3
97,028
133,599
295,442
2020
ThUS$
59,510
15
66,080
96,801
222,406
For the years ended December 31,
2021
ThUS$
(1,052,065)
(126,357)
(224,733)
(2,918)
(107,027)
(83,640)
19,628
(110,580)
(10,505)
(64,094)
(341,839)
30,667
2020
ThUS$
(768,453)
(70,023)
(208,630)
(9,396)
(10,207)
(89,713)
7,561
(104,918)
(7,134)
(2,441)
(273,552)
76,698
2019
ThUS$
64,794
27
76,122
235,373
376,316
2019
ThUS$
(1,088,631)
(134,024)
(281,359)
(11,712)
(18,610)
(119,966)
15,703
(108,699)
(11,323)
(127,977)
(290,664)
124,477
Foreign currency exchange differences (**)
(1,686)
57,171
136,960
Total financial costs
Total financial results
(*) Restated: See Note 2.2.c
(1) See Note 25.2. c).
(1,023,084)
(727,642)
(634,584)
(412,178)
(827,194)
(450,878)
(2) For the year ended December 31, 2021, this includes finance income from the regulatory assets of the Brazilian subsidiaries
of ThUS$ 38,220 (ThUS$ 32,715 and ThUS$ 48,228 as of December 31, 2020 and 2019, respectively), finance income from the
financial update of PIS/Cofins taxes receivable of Enel Generación Fortaleza of ThUS$ 3,076 (ThUS$ 546 and ThUS$ 14,330
as of December 31, 2020 and 2019, respectively), finance income from VOSA accounts receivable of Argentine generation
subsidiaries of ThUS$ 11,470 (ThUS$ 12,387 and ThUS$ 80,738 as of December 31, 2020 and 2019, respectively), income from
the revaluation of investments after the change in ownership of the Manuel Belgrano Thermal Power Plant and San Martin
Thermal Power Plant of ThUS$ 5,064 (ThUS$24,893 and ThUS$0 as of December 31, 2020 and 2019, respectively) (see Note
13) and other income of ThUS$ 75,769 (ThUS$ 26,260 and ThUS$ 92,077 as of December 31, 2020 and 2019, respectively).
(3) For the year ended December 31, 2021, the Company included ThUS$ 27,870 (ThUS$ 13,754 and ThUS$ 56,225 as of
December 31, 2020 and 2019, respectively) from our subsidiary Edesur, related to the finance cost generated by the update
of the penalty for service quality due to the application of ENRE Resolution No. 1/2016 (See Note 23). Additionally, our Brazilian
subsidiaries have recognized ThUS$ 57,389, ThUS$ 70,622 and ThUS$54,002 during the years ended December 31, 2021,
2020 and 2019, respectively, for accounting update of legal claims.
(4) For the year ended December 31, 2021, this item records interest on the debt with Enel Finance International NV of
ThUS$39,181 (ThUS$ 2,441 and ThUS$ 127,977 as of December 31, 2020 and 2019, respectively) and finance costs related to
guarantees granted by Enel SpA of ThUS$ 24,913 (ThUS$ 0 as of December 31, 2020 and 2019) (see Note 10.d).
(5) For the year ended December 31, 2021, this item records interest from CAMMESA’s debt of ThUS$ 187,277 (ThUS$ 88,415
and ThUS$ 91,864 as of December 31, 2020 and 2019, respectively), banking costs of ThUS$16,050 (ThUS$ 32,533 and ThUS$
53,458 as of December 31, 2020 and 2019, respectively) and Others of ThUS$ 138,512 (ThUS$ 152,604 and ThUS$ 145,342
as of December 31, 2020 and 2019, respectively).
(**) The origins of the effects on financial results by adjustment units and exchange differences are detailed as follows:
506
Integrated Annual Report Enel Américas 2021
Gains (losses) from Indexed Assets and Liabilities (*)
Inventories
Investments accounted for using the equity method
Intangible assets other than goodwill
Goodwill
Property, plant and equipment
Deferred tax assets
Deferred tax liabilities
Total Equity
Revenues
Raw materials and consumables used
Financial results
Other Expenses
Corporate tax
Hiperinflation Result (1)
Total Result by Readjustment Units
Foreign Currency Exchange Differences (**)
Cash and cash equivalents
Other financial assets
Other non-financial assets
Trade accounts receivable and other accounts receivable
Investment property
Other financial liabilities (financial debt and derivative instruments)
Trade and other payables
Other non-financial liabilities
Total
For the years ended December 31,
2021
ThUS$
31,336
55
26,844
10,263
755,603
29,002
(137,607)
(670,974)
(162,558)
137,615
14,725
(576)
(3,061)
30,667
30,667
2020
ThUS$
27,150
48
11,601
6,530
485,353
14,665
(89,669)
(355,914)
(150,056)
126,134
2,818
(3,317)
1,355
76,698
76,698
For the years ended December 31,
2021
ThUS$
(7,767)
270,329
14,618
42,099
6,222
(240,245)
(66,775)
(20,167)
(1,686)
2020
ThUS$
8,277
130,570
27,195
57,226
—
(30,988)
(46,073)
(89,036)
57,171
2019
ThUS$
25,670
79
8,867
8,858
646,811
20,861
(119,471)
(382,962)
(346,360)
241,081
(1,559)
95
22,507
124,477
124,477
2019
ThUS$
3,553
57,818
379
210,587
—
(43,692)
(45,142)
(46,543)
136,960
1) Corresponds to the financial effect derived from the application of IAS 29 "Financial Reporting in Hyperinflationary Economies". (See Note 2.9).
Consolidated Financial Statements 507
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
NOTE 33. Information by segment
33.1 Basis of segmentation
The Group’s activities operate under a matrix management structure with dual and cross management responsibilities (based on
business and geographical areas of responsibility), and its subsidiaries are engaged in either the Generation and Transmission
Business or the Distribution Business.
The Group adopted a “bottom-up” approach to determine its reportable segments. The Generation and Transmission and
the Distribution reportable segments have been defined based on IFRS 8.9 and on the criteria described in IFRS 8.12, taking
into account the aggregation of the operating segments having similar economic drivers that are common in all countries.
Generation and Transmission Business: The Generation and Transmission Reportable Segment is comprised of a group of
electricity companies that own electricity generating plants, whose energy is transmitted and distributed to end customers.
The following five operating segments have been aggregated into one combined set of information for the Generation and
Transmission Reportable Segment:
Generation and Transmission Reportable Segment:
• Generation and Transmission Business in Argentina
• Generation and Transmission Business in Brazil
• Generation and Transmission Business in Colombia
• Generation and Transmission Business in Peru
• Generation and Transmission Business in Central America
The Generation and Transmission Business is conducted: in Argentina through Enel Trading Argentina (formerly Cemsa), Central
Dock Sud, Enel Generación Costanera, Enel Generación El Chocón and Enel Green Power Argentina S.A.; in Brazil through our
subsidiaries, EGP Cachoeira Dourada, Enel CIEN, Enel Green Power Proyectos I (Volta Grande), Fortaleza, Enel Trading Brasil
S.A. and the EGP Group companies; in Colombia through our subsidiary Emgesa and Enel Green Power Colombia S.A.S ESP;
in Peru through our subsidiaries Enel Generación Perú, Enel Generación Piura, Chinango and Enel Green Power Peru S.A.C and
in Central America by our subsidiaries Enel Green Power Costa Rica S.A., Enel Green Power Guatemala S.A. and Enel Power
Panamá S.R.L.
Distribution Business: The Distribution Reportable Segment is comprised of a group of electricity companies operating under
a public utility concession, with service obligations and regulated tariffs for supplying regulated customers in four different
countries.
The following four operating segments have been aggregated into one combined set of information for the Distribution
Reportable Segment:
Distribution Reportable Segment:
− Distribution Business in Argentina
− Distribution Business in Brazil
− Distribution Business in Colombia
− Distribution Business in Peru
508
Integrated Annual Report Enel Américas 2021
The Distribution Business is conducted: in Argentina through Edesur; in Brazil through Enel Distribución Río S.A., Enel Distribución
Ceará S.A., Enel Distribución Goias and Enel Distribución Sao Paulo (formerly Eletropaulo); in Colombia through Codensa; and
in Peru through Enel Distribución Perú.
Each of the operating segments generates separate financial information, which is aggregated into one combined set of
information for the Generation and Transmission Business, and another set of combined information for the Distribution
Business at the reportable segment level. In addition, in order to assist the decision maker process, the Planning & Control
Department at the parent company level prepares internal reports containing combined information at the reportable segment
level about the main key performance indicators (KPIs), such as: Gross Operating Result, Gross Margin, Total Capex, Total Opex,
profit or loss, Total Energy Generation and Transmission, among others. The presentation of information under this business/
country approach has been made taking into consideration that the KPIs are similar and comparable in all countries, in each
of the following aspects:
a) the nature of the activities: generation and transmission, on one hand, and distribution on the other;
b) the nature of the production processes: The Generation and Transmission Business deals with the generation of electricity
and its transmission to dispatch centers, while the Distribution Business does not generate electricity, but distributes electricity
to end customers;
c) the type or class of customer for their products and services: The Generation and Transmission Business provides services
mainly to unregulated customers, while the Distribution Business provides energy to regulated customers;
d) the methods used to distribute their products or provide their services: generators generally sell the energy through energy
auctions, while distributors provide energy in their concession area; and
e) the nature of the regulatory environment (public utilities): the regulatory frameworks differs in the Generation and Transmission
Business and Distribution Business.
The Company’s chief operating decision maker (“CODM”) in conjunction with the country managers reviews on a monthly basis
these internal reports and uses the KPI information to make decisions on the allocation of resources and the assessment of
the performance of the operating segments for each reportable segment.
The information disclosed in the following tables is based on the financial information of the companies forming each segment.
The accounting policies used to determine the segment information are the same as those used in the preparation of the
Group’s consolidated financial statements.
Consolidated Financial Statements 509
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33.2 Generation and transmission, distribution and others
Line of business
ASSETS
CURRENT ASSETS
Cash and cash equivalents
Other current financial assets
Other current non-financial assets
Trade and other current receivables
Current accounts receivable from related parties
Inventories
Current tax assets
Generation and Transmission
12-31-2021
ThUS$
1,940,708
764,320
157,768
142,715
468,470
220,992
108,127
78,316
12-31-2020
ThUS$
1,752,168
678,856
77,146
70,693
699,288
110,101
86,375
29,709
Non-current assets or disposal groups held-for-sale or held for distribution to owners
-
-
520
-
-
-
520
-
NON-CURRENT ASSETS
Other non-current financial assets
Other non-current non-financial assets
Trade and other non-current receivables
Non-current accounts receivable from related parties
Investments accounted for using the equity method
Intangible assets other than goodwill
Goodwill
Property, plant and equipment
Investment properties
Right-of-use asset
Deferred tax assets
TOTAL ASSETS
Line of business
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Other current financial liabilities
Current lease liability
Trade and other current payables
Current accounts payable to related parties
Other current provisions
Current tax liabilities
Other current non-financial liabilities
NON-CURRENT LIABILITIES
Other non-current financial liabilities
Non-current lease liability
Trade and other non-current payables
Non-current accounts payable to related parties
Other long-term provisions
Deferred tax liabilities
Non-current provisions for employee benefits
Other non-current non-financial liabilities
EQUITY
Equity attributable to shareholders of Enel Américas
Share and paid-in capital
Retained earnings (losses)
Issuance premiums
Treasury shares in portfolio
Other reserves
Non-controlling interests
Total Liabilities and Equity
10,275,479
506,387
125,676
244,390
53,410
402,308
409,293
3,833
8,269,946
-
191,230
69,006
12,216,187
5,023,349
293,011
44,772
280,119
43,945
111,027
136,560
-
3,953,188
-
127,537
33,190
6,775,517
Generation and Transmission
12-31-2021
ThUS$
1,942,219
286,850
21,519
966,843
419,864
29,711
157,031
60,401
12-31-2020
ThUS$
1,652,616
317,285
21,478
881,993
155,817
79,356
150,727
45,960
2,170,984
1,304,390
84,031
9,746
104,447
132,432
443,996
25,503
66,439
8,102,984
8,102,984
5,636,230
1,195,679
337,107
(50)
934,018
1,280,831
727,682
11,591
979
19,252
84,179
335,101
32,753
69,294
3,842,070
3,842,070
1,821,697
1,122,697
37,138
(54)
860,592
-
-
12,216,187
6,775,517
21,081,091
19,142,891
1,661,660
1,015,150
-
-
2,197,436
34,958,938
2,227,804
26,933,558
Distribution
Holdings, Eliminations and Others
Total
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
16,146,273
14,821,340
1,474,707
909,613
27,896,459
4,205,651
4,370,876
-
-
4,626,574
4,396,560
6,272
112,756
789,782
7,942
94,180
870,360
21,081,091
19,142,891
1,661,660
1,015,150
34,958,938
26,933,558
Distribution
Holdings, Eliminations and Others
Total
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
ThUS$
4,934,818
466,372
77,710
640,755
3,216,126
30,074
429,395
73,866
2,911,429
3,013,019
467,016
26
13,748
12-31-2021
ThUS$
6,242,563
753,298
36,795
3,767,621
1,342,862
134,918
22,685
184,384
9,154,908
2,782,559
82,232
2,678,438
998,873
705,375
443,742
1,395,556
68,133
5,683,620
5,683,620
2,972,017
(270,485)
46,819
ThUS$
4,321,551
748,245
151,746
430,800
2,524,640
19,689
384,790
61,641
2,497,735
2,284,187
297,872
32
1,596
ThUS$
5,178,351
1,020,125
29,753
3,081,693
651,021
141,067
69,379
185,313
7,759,713
2,518,301
78,882
2,049,498
444,950
749,514
282,397
1,588,504
47,667
6,204,827
6,204,827
2,902,092
(82,505)
55,685
ThUS$
186,953
165,561
76,552
45,290
26,545
(177,307)
754
49,558
55,360
6,726
13,445
(53,410)
(413,687)
141,326
1,466,392
101,008
-
23,967
133,580
ThUS$
(389,248)
192,686
2,373
177,666
(807,019)
215
3,344
41,487
807,419
830,634
21,628
883
(40,822)
1,012
(8,338)
2,422
1,243,489
1,243,489
7,191,252
4,843,497
(383,926)
(222)
ThUS$
105,537
79,892
1,387
59,293
11,007
(82,840)
268
36,530
117
3,897
533
(43,945)
(110,350)
17,390
945,512
4,924
-
703
90,832
ThUS$
446,255
487,720
264
129,890
(209,716)
2
2,764
35,331
282,129
591,723
597
10,998
(319,811)
207
(4,545)
2,960
286,766
286,766
5,039,289
4,375,506
(92,823)
54
ThUS$
7,062,479
1,396,253
312,030
828,760
3,711,141
73,759
538,276
201,740
3,473,176
3,145,421
724,851
26
2,369
4,756,270
1,470,225
12,997,528
6,272
327,953
992,368
ThUS$
7,795,534
1,232,834
60,687
4,912,130
955,707
164,844
183,060
286,272
12,133,311
4,917,583
187,891
2,689,067
1,062,498
838,819
879,400
1,423,481
134,572
15,030,093
12,832,657
15,799,499
5,768,691
-
(272)
ThUS$
6,179,256
1,506,993
230,279
560,786
3,234,935
46,950
471,433
127,880
20,754,302
2,790,863
2,332,856
578,524
32
2,273
4,524,826
945,512
8,354,672
7,942
222,420
994,382
ThUS$
7,277,222
1,825,130
51,495
4,093,576
597,122
220,425
222,870
266,604
9,322,673
3,837,706
91,070
2,061,475
144,391
833,900
612,953
1,624,217
116,961
10,333,663
8,105,859
9,763,078
5,415,698
-
-
-
-
2,935,269
3,329,555
(10,407,112)
(9,035,260)
(8,735,261)
(7,072,917)
-
-
-
-
The Holding, Eliminations and Other column corresponds to transactions between companies in different lines of business
and country, primarily purchases and sales of energy and services.
510
Integrated Annual Report Enel Américas 2021
Line of business
ASSETS
CURRENT ASSETS
Cash and cash equivalents
Other current financial assets
Other current non-financial assets
Trade and other current receivables
Current accounts receivable from related parties
Inventories
Current tax assets
NON-CURRENT ASSETS
Other non-current financial assets
Other non-current non-financial assets
Trade and other non-current receivables
Non-current accounts receivable from related parties
Investments accounted for using the equity method
Intangible assets other than goodwill
Goodwill
Property, plant and equipment
Investment properties
Right-of-use asset
Deferred tax assets
TOTAL ASSETS
Line of business
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Other current financial liabilities
Current lease liability
Trade and other current payables
Current accounts payable to related parties
Other current provisions
Current tax liabilities
Other current non-financial liabilities
NON-CURRENT LIABILITIES
Other non-current financial liabilities
Non-current lease liability
Trade and other non-current payables
Non-current accounts payable to related parties
Other long-term provisions
Deferred tax liabilities
Non-current provisions for employee benefits
Other non-current non-financial liabilities
EQUITY
Equity attributable to shareholders of Enel Américas
Share and paid-in capital
Retained earnings (losses)
Issuance premiums
Treasury shares in portfolio
Other reserves
Non-controlling interests
Total Liabilities and Equity
12-31-2021
ThUS$
1,940,708
764,320
157,768
142,715
468,470
220,992
108,127
78,316
12-31-2020
ThUS$
1,752,168
678,856
77,146
70,693
699,288
110,101
86,375
29,709
10,275,479
5,023,349
506,387
125,676
244,390
53,410
402,308
409,293
3,833
-
191,230
69,006
12,216,187
293,011
44,772
280,119
43,945
111,027
136,560
-
-
127,537
33,190
6,775,517
8,269,946
3,953,188
Generation and Transmission
12-31-2021
ThUS$
1,942,219
12-31-2020
ThUS$
1,652,616
286,850
21,519
966,843
419,864
29,711
157,031
60,401
2,170,984
1,304,390
84,031
9,746
104,447
132,432
443,996
25,503
66,439
8,102,984
8,102,984
5,636,230
1,195,679
337,107
(50)
934,018
317,285
21,478
881,993
155,817
79,356
150,727
45,960
1,280,831
727,682
11,591
979
19,252
84,179
335,101
32,753
69,294
3,842,070
3,842,070
1,821,697
1,122,697
37,138
(54)
860,592
33.2 Generation and transmission, distribution and others
Generation and Transmission
Distribution
12-31-2021
ThUS$
4,934,818
466,372
77,710
640,755
3,216,126
30,074
429,395
73,866
12-31-2020
ThUS$
4,321,551
748,245
151,746
430,800
2,524,640
19,689
384,790
61,641
Holdings, Eliminations and Others
12-31-2020
ThUS$
105,537
79,892
1,387
59,293
11,007
(82,840)
268
36,530
12-31-2021
ThUS$
186,953
165,561
76,552
45,290
26,545
(177,307)
754
49,558
Total
12-31-2021
ThUS$
7,062,479
1,396,253
312,030
828,760
3,711,141
73,759
538,276
201,740
12-31-2020
ThUS$
6,179,256
1,506,993
230,279
560,786
3,234,935
46,950
471,433
127,880
Non-current assets or disposal groups held-for-sale or held for distribution to owners
-
-
520
-
-
-
520
-
16,146,273
2,911,429
3,013,019
467,016
26
13,748
4,205,651
14,821,340
2,497,735
2,284,187
297,872
32
1,596
4,370,876
-
-
4,626,574
6,272
112,756
789,782
21,081,091
4,396,560
7,942
94,180
870,360
19,142,891
Distribution
12-31-2021
ThUS$
6,242,563
753,298
36,795
3,767,621
1,342,862
134,918
22,685
184,384
9,154,908
2,782,559
82,232
2,678,438
998,873
705,375
443,742
1,395,556
68,133
5,683,620
5,683,620
2,972,017
(270,485)
46,819
12-31-2020
ThUS$
5,178,351
1,020,125
29,753
3,081,693
651,021
141,067
69,379
185,313
7,759,713
2,518,301
78,882
2,049,498
444,950
749,514
282,397
1,588,504
47,667
6,204,827
6,204,827
2,902,092
(82,505)
55,685
-
-
2,935,269
3,329,555
1,474,707
55,360
6,726
13,445
(53,410)
(413,687)
141,326
1,466,392
101,008
909,613
117
3,897
533
(43,945)
(110,350)
17,390
945,512
4,924
-
-
23,967
133,580
1,661,660
703
90,832
1,015,150
27,896,459
3,473,176
3,145,421
724,851
26
2,369
4,756,270
1,470,225
12,997,528
6,272
327,953
992,368
34,958,938
Holdings, Eliminations and Others
12-31-2020
ThUS$
446,255
487,720
264
129,890
(209,716)
2
2,764
35,331
12-31-2021
ThUS$
(389,248)
192,686
2,373
177,666
(807,019)
215
3,344
41,487
807,419
830,634
21,628
883
(40,822)
1,012
(8,338)
2,422
282,129
591,723
597
10,998
(319,811)
207
(4,545)
2,960
-
-
1,243,489
1,243,489
7,191,252
4,843,497
(383,926)
(222)
(10,407,112)
286,766
286,766
5,039,289
4,375,506
(92,823)
54
(9,035,260)
Total
12-31-2021
ThUS$
7,795,534
1,232,834
60,687
4,912,130
955,707
164,844
183,060
286,272
12,133,311
4,917,583
187,891
2,689,067
1,062,498
838,819
879,400
1,423,481
134,572
15,030,093
12,832,657
15,799,499
5,768,691
-
(272)
(8,735,261)
20,754,302
2,790,863
2,332,856
578,524
32
2,273
4,524,826
945,512
8,354,672
7,942
222,420
994,382
26,933,558
12-31-2020
ThUS$
7,277,222
1,825,130
51,495
4,093,576
597,122
220,425
222,870
266,604
9,322,673
3,837,706
91,070
2,061,475
144,391
833,900
612,953
1,624,217
116,961
10,333,663
8,105,859
9,763,078
5,415,698
-
-
(7,072,917)
The Holding, Eliminations and Other column corresponds to transactions between companies in different lines of business
and country, primarily purchases and sales of energy and services.
-
-
12,216,187
6,775,517
-
-
-
-
21,081,091
19,142,891
1,661,660
1,015,150
2,197,436
34,958,938
2,227,804
26,933,558
Consolidated Financial Statements 511
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Line of business
STATEMENTS OF PROIT (LOSS)
REVENUE AND OTHER OPERATING INCOME
Revenues
Energy sales
Other sales
Other services rendered
Other income
RAW MATERIALS AND CONSUMABLES USED
Energy purchases
Fuel consumption
Transportation expenses
Other miscellaneous supplies and services
CONTRIBUTION MARGIN
Other work performed by the entity and capitalized
Employee benefits expense
Other expenses
GROSS OPERATING RESULT
Depreciation and amortization expense
Impairment (losses) reversals recognized in profit or loss
Gains (losses) for impairment in accordance with IFRS 9
OPERATING INCOME
FINANCIAL RESULT
Financial income
Cash and cash equivalents
Other financial income
Financial costs
Bank borrowings
Secured and unsecured obligations
Other
Income from indexation units
Foreign exchange profits (losses)
Share of profit (loss) of associates and joint ventures accounted for using the equity method
Other gains (losses)
Gain (loss) from other investments
Gain (loss) from the sale of assets
12-31-2021
ThUS$
Generation
12-31-2020
ThUS$
12-31-2019
ThUS$
4,850,694
3,000,829
3,057,056
4,774,522
2,977,178
3,007,419
4,670,098
2,880,510
2,885,369
42,610
61,814
76,172
32,291
64,377
23,651
48,946
73,104
49,637
(2,550,453)
(1,375,163)
(1,218,451)
(2,004,478)
(116,682)
(297,568)
(131,725)
(918,086)
(137,850)
(226,531)
(92,696)
(578,373)
(277,116)
(260,281)
(102,681)
2,300,241
1,625,666
1,838,605
15,431
(144,033)
(206,453)
3,946
(101,339)
(145,700)
10,023
(114,226)
(136,526)
1,965,186
1,382,573
1,597,876
(354,523)
(240,241)
(261,958)
(89,344)
(8,930)
-
(934)
(1,307)
645
1,512,389
1,141,398
1,335,256
(189,740)
(56,160)
96,341
33,709
62,632
93,720
32,879
60,841
4,788
153,668
99,237
54,431
(167,536)
(149,750)
(178,978)
(37,419)
(63,195)
(66,922)
(164,888)
46,343
982
2,100
-
2,100
(3,945)
(70,317)
(75,488)
(85,734)
85,604
2,630
3,764
50
3,714
(12,603)
(80,638)
(85,737)
(83,759)
113,857
790
1,287
1,042
245
Distribution
Holdings, Eliminations and Others
Total
12-31-2021
12-31-2020
12-31-2019
12-31-2021
12-31-2020
12-31-2019
12-31-2021
12-31-2020
12-31-2019
-
-
-
-
(1)
(116,666)
(137,850)
(277,117)
ThUS$
(815,507)
(886,793)
(823,736)
250
(63,307)
71,286
817,889
817,410
60,005
(59,526)
2,382
2,728
(26,748)
(69,443)
(91,081)
(3,022)
(10,713)
(686)
(105,502)
(120,961)
(300)
11,440
(11,740)
(6,788)
(2,363)
(24,531)
20,106
(83,819)
ThUS$
(777,969)
(777,486)
(736,505)
(544)
(40,437)
(483)
772,503
729,245
49,041
(5,783)
(5,466)
59
(21,490)
(59,709)
(86,606)
(3,634)
(90,138)
(37,040)
4,737
11,944
(7,207)
(20,407)
(9,402)
(24,808)
13,803
846
ThUS$
ThUS$
ThUS$
12,157,149
10,068,885
12,189,594
10,647,295
9,039,284
10,905,824
8,961,340
7,511,207
9,217,909
5,729
1,680,226
1,509,854
5,221
1,522,856
1,029,601
9,805
1,678,110
1,283,770
(8,718,819)
(6,953,255)
(8,175,432)
(6,524,262)
(5,149,046)
(6,323,836)
16
(782,629)
(1,411,944)
(838,996)
(965,213)
(903,489)
(948,107)
3,438,330
3,115,630
4,014,162
192,393
(559,121)
(843,336)
143,146
(442,217)
(859,869)
171,479
(671,025)
(937,650)
2,228,266
1,956,690
2,576,966
(635,551)
(614,224)
(683,668)
-
-
3,433
(335,556)
(241,540)
1,257,159
1,100,926
(416,941)
199,401
19,663
179,738
(86,575)
(137,007)
(654,159)
279,374
(17,975)
32
1,118
543
575
(318,978)
123,949
14,687
109,262
(56,676)
(113,505)
(428,115)
161,586
(6,217)
28
903
-
903
(279,234)
1,617,497
(334,982)
212,375
26,372
186,003
(92,211)
(175,496)
(477,695)
206,845
(8,800)
12,909
20
6
12,903
ThUS$
ThUS$
ThUS$
ThUS$
(859,193)
16,192,336
12,291,745
14,387,457
(859,867)
14,535,024
11,238,976
13,053,376
(821,024)
12,807,702
9,655,212
11,282,254
1
48,589
36,968
58,752
(38,844)
1,678,733
1,546,796
1,712,370
674
1,657,312
1,052,769
1,334,081
852,860
(10,451,383)
(7,555,915)
(8,541,023)
805,346
(7,711,330)
(5,337,887)
(6,096,863)
52,849
(1,020,192)
(1,016,486)
(1,110,921)
(5,334)
(6,333)
63
(24,502)
(76,533)
(1,603,195)
(1,063,692)
(1,056,122)
5,740,953
4,735,830
5,846,434
210,552
(729,902)
147,151
(565,046)
181,565
(809,753)
(1,119,232)
(1,065,278)
(1,150,709)
(107,305)
4,102,371
3,252,657
4,067,537
(2,704)
(993,096)
(858,099)
(948,330)
-
102
-
(536)
(100,057)
(345,172)
-
2,126
(242,372)
(279,125)
(110,545)
2,664,046
2,152,186
2,842,208
(120,684)
10,273
19,923
(9,650)
(29,210)
(25,225)
(109,816)
1,391
31,903
(727,642)
295,442
64,812
230,630
(126,357)
(224,733)
(700,975)
30,667
(1,686)
1,181
3,218
543
2,675
(412,178)
222,406
59,510
162,896
(70,023)
(208,630)
(489,800)
76,698
57,171
3,133
4,671
54
4,617
(450,878)
376,316
145,532
230,784
(134,024)
(281,359)
(673,248)
124,477
136,960
583
14,196
1,048
13,148
(30,054)
(22,216)
167
475
(227)
-
-
-
4
4
-
-
-
-
(877,741)
(598,296)
(745,402)
(164,251)
(1,052,065)
(768,453)
(1,088,631)
Profit (loss) before taxes
1,325,731
1,091,632
1,342,121
841,368
782,879
1,295,444
(226,296)
(126,699)
(231,456)
1,940,803
1,747,812
2,406,109
Income tax expense (income)
(446,211)
(326,573)
(419,338)
(396,085)
(278,107)
160,650
36,004
38,120
22,342
(806,292)
(566,560)
(236,346)
Profit (loss) from continuing operations
PROFIT (LOSS)
Profit (loss) attributable to
Profit (loss) attributable to owners of the parent
Profit (loss) attributable to non-controlling interests
Line of Business
STATEMENT OF CASH FLOWS
Net cash flows from (used in) operating activities
Net cash flows from (used in) investing activities
Net cash flows from (used in) financing activities
879,520
879,520
765,059
765,059
922,783
922,783
879,520
765,059
922,783
-
-
-
-
-
-
Generation y transmission
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2019
ThUS$
1,845,460
1,109,985
1,052,312
(1,272,200)
(738,729)
(164,687)
(797,743)
(84,523)
(1,039,947)
445,283
445,283
504,772
504,772
1,456,094
1,456,094
(190,292)
(190,292)
(88,579)
(88,579)
(209,114)
(209,114)
1,134,511
1,134,511
1,181,252
1,181,252
2,169,763
2,169,763
445,283
504,772
1,456,094
(190,292)
(88,579)
(209,114)
1,134,511
1,181,252
2,169,763
-
-
-
-
-
-
-
-
-
-
-
-
740,859
393,652
825,197
356,055
1,614,085
555,678
Distribution
Holdings, Eliminations and Others
Total
12-31-2021
12-31-2020
12-31-2019
12-31-2021
12-31-2020
12-31-2019
12-31-2021
12-31-2020
12-31-2019
ThUS$
ThUS$
855,641
1,448,867
(1,711,211)
(1,364,627)
627,354
40,508
ThUS$
1,603,242
(1,471,137)
(64,693)
ThUS$
(85,525)
1,049,114
(483,375)
ThUS$
(133,342)
(6,302)
(429,300)
ThUS$
ThUS$
ThUS$
ThUS$
(128,043)
2,615,576
2,425,510
2,527,511
(44,138)
281,736
(1,934,297)
(1,535,616)
(1,599,798)
(594,750)
(1,186,535)
(822,904)
The Holding, Eliminations and Other column corresponds to transactions between companies in different lines of business
and country, primarily purchases and sales of energy and services.
512
Integrated Annual Report Enel Américas 2021
16
(782,629)
(1,411,944)
(838,996)
(965,213)
(903,489)
(948,107)
-
-
-
-
(1)
(116,666)
(137,850)
(277,117)
49,041
(5,783)
(5,466)
59
(21,490)
(59,709)
(86,606)
(3,634)
52,849
(1,020,192)
(1,016,486)
(1,110,921)
(5,334)
(6,333)
63
(24,502)
(76,533)
(1,603,195)
(1,063,692)
(1,056,122)
5,740,953
4,735,830
5,846,434
210,552
(729,902)
147,151
(565,046)
181,565
(809,753)
(1,119,232)
(1,065,278)
(1,150,709)
(107,305)
4,102,371
3,252,657
4,067,537
(2,704)
(993,096)
(858,099)
(948,330)
-
102
-
(536)
(100,057)
(345,172)
-
2,126
(242,372)
(279,125)
RAW MATERIALS AND CONSUMABLES USED
(2,550,453)
(1,375,163)
(1,218,451)
Distribution
Holdings, Eliminations and Others
Total
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2019
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2019
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2019
ThUS$
12,157,149
10,068,885
12,189,594
10,647,295
9,039,284
10,905,824
8,961,340
7,511,207
9,217,909
5,729
1,680,226
1,509,854
5,221
1,522,856
1,029,601
9,805
1,678,110
1,283,770
(8,718,819)
(6,953,255)
(8,175,432)
(6,524,262)
(5,149,046)
(6,323,836)
(815,507)
(886,793)
(823,736)
250
(63,307)
71,286
817,889
817,410
(777,969)
(777,486)
(736,505)
(544)
(40,437)
(483)
772,503
729,245
(859,193)
16,192,336
12,291,745
14,387,457
(859,867)
14,535,024
11,238,976
13,053,376
(821,024)
12,807,702
9,655,212
11,282,254
1
48,589
36,968
58,752
(38,844)
1,678,733
1,546,796
1,712,370
674
1,657,312
1,052,769
1,334,081
852,860
(10,451,383)
(7,555,915)
(8,541,023)
805,346
(7,711,330)
(5,337,887)
(6,096,863)
3,438,330
3,115,630
4,014,162
192,393
(559,121)
(843,336)
143,146
(442,217)
(859,869)
171,479
(671,025)
(937,650)
2,228,266
1,956,690
2,576,966
(635,551)
(614,224)
(683,668)
-
-
3,433
(335,556)
(241,540)
1,257,159
1,100,926
(416,941)
199,401
19,663
179,738
(318,978)
123,949
14,687
109,262
(279,234)
1,617,497
(334,982)
212,375
26,372
186,003
Share of profit (loss) of associates and joint ventures accounted for using the equity method
(167,536)
(149,750)
(178,978)
(877,741)
(598,296)
(745,402)
(86,575)
(137,007)
(654,159)
279,374
(17,975)
32
1,118
543
575
(56,676)
(113,505)
(428,115)
161,586
(6,217)
28
903
-
903
(92,211)
(175,496)
(477,695)
206,845
(8,800)
20
12,909
6
12,903
Line of business
STATEMENTS OF PROIT (LOSS)
REVENUE AND OTHER OPERATING INCOME
Revenues
Energy sales
Other sales
Other services rendered
Other income
Energy purchases
Fuel consumption
Transportation expenses
Other miscellaneous supplies and services
CONTRIBUTION MARGIN
Other work performed by the entity and capitalized
Employee benefits expense
Other expenses
GROSS OPERATING RESULT
Depreciation and amortization expense
Impairment (losses) reversals recognized in profit or loss
Gains (losses) for impairment in accordance with IFRS 9
OPERATING INCOME
FINANCIAL RESULT
Financial income
Cash and cash equivalents
Other financial income
Financial costs
Bank borrowings
Secured and unsecured obligations
Other
Income from indexation units
Foreign exchange profits (losses)
Other gains (losses)
Gain (loss) from other investments
Gain (loss) from the sale of assets
Profit (loss) from continuing operations
PROFIT (LOSS)
Profit (loss) attributable to
Profit (loss) attributable to owners of the parent
Profit (loss) attributable to non-controlling interests
Line of Business
STATEMENT OF CASH FLOWS
Net cash flows from (used in) operating activities
Net cash flows from (used in) investing activities
Net cash flows from (used in) financing activities
Generation
12-31-2021
12-31-2020
12-31-2019
ThUS$
ThUS$
ThUS$
4,850,694
3,000,829
3,057,056
4,774,522
2,977,178
3,007,419
4,670,098
2,880,510
2,885,369
2,300,241
1,625,666
1,838,605
1,965,186
1,382,573
1,597,876
(354,523)
(240,241)
(261,958)
(89,344)
(8,930)
-
(934)
(1,307)
645
1,512,389
1,141,398
1,335,256
(189,740)
(56,160)
42,610
61,814
76,172
(2,004,478)
(116,682)
(297,568)
(131,725)
15,431
(144,033)
(206,453)
96,341
33,709
62,632
(37,419)
(63,195)
(66,922)
(164,888)
46,343
982
2,100
-
2,100
32,291
64,377
23,651
(918,086)
(137,850)
(226,531)
(92,696)
3,946
(101,339)
(145,700)
93,720
32,879
60,841
(3,945)
(70,317)
(75,488)
(85,734)
85,604
2,630
3,764
50
3,714
48,946
73,104
49,637
(578,373)
(277,116)
(260,281)
(102,681)
10,023
(114,226)
(136,526)
4,788
153,668
99,237
54,431
(12,603)
(80,638)
(85,737)
(83,759)
113,857
790
1,287
1,042
245
879,520
879,520
765,059
765,059
922,783
922,783
879,520
765,059
922,783
-
-
-
-
-
-
Generation y transmission
12-31-2021
12-31-2020
12-31-2019
ThUS$
ThUS$
ThUS$
1,845,460
1,109,985
1,052,312
(1,272,200)
(738,729)
(164,687)
(797,743)
(84,523)
(1,039,947)
The Holding, Eliminations and Other column corresponds to transactions between companies in different lines of business
and country, primarily purchases and sales of energy and services.
Profit (loss) before taxes
1,325,731
1,091,632
1,342,121
841,368
782,879
1,295,444
(226,296)
(126,699)
(231,456)
1,940,803
1,747,812
2,406,109
Income tax expense (income)
(446,211)
(326,573)
(419,338)
(396,085)
(278,107)
160,650
36,004
38,120
22,342
(806,292)
(566,560)
(236,346)
445,283
445,283
504,772
504,772
1,456,094
1,456,094
(190,292)
(190,292)
(88,579)
(88,579)
(209,114)
(209,114)
1,134,511
1,134,511
1,181,252
1,181,252
2,169,763
2,169,763
445,283
504,772
1,456,094
(190,292)
(88,579)
(209,114)
1,134,511
1,181,252
2,169,763
-
-
-
-
-
-
-
-
-
-
-
-
740,859
393,652
825,197
356,055
1,614,085
555,678
Distribution
Holdings, Eliminations and Others
Total
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2019
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2019
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2019
ThUS$
855,641
1,448,867
(1,711,211)
(1,364,627)
627,354
40,508
1,603,242
(1,471,137)
(64,693)
(85,525)
1,049,114
(483,375)
(133,342)
(6,302)
(429,300)
(128,043)
2,615,576
2,425,510
2,527,511
(44,138)
281,736
(1,934,297)
(1,535,616)
(1,599,798)
(594,750)
(1,186,535)
(822,904)
Consolidated Financial Statements 513
(126,357)
(224,733)
(700,975)
30,667
(1,686)
1,181
3,218
543
2,675
(70,023)
(208,630)
(489,800)
76,698
57,171
3,133
4,671
54
4,617
(134,024)
(281,359)
(673,248)
124,477
136,960
583
14,196
1,048
13,148
(110,545)
2,664,046
2,152,186
2,842,208
(120,684)
10,273
19,923
(9,650)
(727,642)
295,442
64,812
230,630
(412,178)
222,406
59,510
162,896
(450,878)
376,316
145,532
230,784
(164,251)
(1,052,065)
(768,453)
(1,088,631)
60,005
(59,526)
2,382
2,728
(26,748)
(69,443)
(91,081)
(3,022)
(10,713)
(686)
(105,502)
(120,961)
(300)
11,440
(11,740)
(6,788)
(2,363)
(24,531)
20,106
(83,819)
167
475
(227)
-
-
-
4
4
-
-
-
-
(90,138)
(37,040)
4,737
11,944
(7,207)
(20,407)
(9,402)
(24,808)
13,803
846
(29,210)
(25,225)
(109,816)
1,391
31,903
(30,054)
(22,216)
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
33.3 Segment information by country
Country
ASSETS
CURRENT ASSETS
Cash and cash equivalents
Other current financial assets
Other current non-financial assets
Trade and other current receivables
Current accounts receivable from related
parties
Inventories
Current tax assets
Non-current assets or disposal groups
held-for-sale or held for distribution to
owners
NON-CURRENT ASSETS
Other non-current financial assets
Other non-current non-financial assets
Trade and other non-current receivables
Non-current accounts receivable from
related parties
Investments accounted for using the equity
method
Intangible assets other than goodwill
Goodwill
Property, plant and equipment
Investment properties
Right-of-use asset
Deferred tax assets
TOTAL ASSETS
Chile ( Holding and Others)
12-31-2020
ThUS$
249,106
8,050
116
16,730
1,587
213,077
12-31-2021
ThUS$
445,620
124,187
146
4,484
1,585
305,735
Argentina
Brazil
Colombia
12-31-2021
ThUS$
617,133
63,620
145,102
30,526
312,034
1,694
12-31-2020
ThUS$
603,494
139,448
65,382
42,123
310,882
148
12-31-2021
ThUS$
4,804,124
757,875
89,881
655,856
2,822,353
6,885
12-31-2020
ThUS$
4,138,518
741,381
160,734
411,573
2,407,709
38,761
12-31-2021
ThUS$
657,247
156,714
76,750
13,731
328,827
1,662
12-31-2020
ThUS$
850,472
383,257
4,047
27,496
331,070
1,790
-
9,483
-
9,546
55,911
8,246
42,883
2,628
342,555
128,719
272,754
105,606
76,415
2,628
102,781
31
Peru
Central America
Eliminations
Total
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
ThUS$
550,690
140,835
61
115,248
182,201
4,930
56,516
50,899
ThUS$
546,260
234,857
-
62,864
182,959
2,496
53,015
10,069
ThUS$
290,651
153,022
90
8,915
64,015
55,965
6,879
1,765
ThUS$
ThUS$
(302,986)
ThUS$
(208,594)
126
(303,112)
728
(209,322)
-
-
-
-
-
-
520
-
-
-
-
16,425,543
10,473,781
-
-
5,157
43
245,049
2,980
77
225,000
2,810,065
26,194
831
226,424
26
2,468,259
25,461
898
268,536
32
16,172,024
10,245,701
309,908
315,981
16,352,912
3,326,017
3,041,765
470,304
11,374,761
2,765,194
2,272,857
276,346
4,253,624
6,718
27,954
20,201
4,397,892
153
33,029
33,565
-
-
-
-
-
118
-
127
-
-
-
-
-
3,270
16,871,163
-
-
-
-
24
(1)
10,722,887
86,948
-
2,143,757
-
49
15,928
3,427,198
61,159
4,523
1,762,799
-
124
28,746
3,071,753
4,322,605
460,793
3,670,373
6,272
117,760
937,023
21,157,036
4,256,831
494,129
304,256
7,942
43,099
954,107
15,513,279
165,571
4,709
3,963,160
135,881
5,601
4,158,620
-
-
60,872
4,321
4,910,871
19,639
11,277
5,248,364
2,670,200
2,382,886
1,406,373
(16,022,258)
(10,343,277)
27,896,459
20,754,302
288,385
-
(16,778,099)
(10,559,536)
2,369
2,273
(245,049)
(225,000)
1,000,890
441,259
3,220,890
2,929,146
1,697,024
(16,325,244)
(10,551,871)
34,958,938
26,933,558
Non-current assets or disposal groups held-for-sale or held for distribution to owners
Country
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Other current financial liabilities
Current lease liability
Trade and other current payables
Current accounts payable to related parties
Other current provisions
Current tax liabilities
Other current non-financial liabilities
NON-CURRENT LIABILITIES
Other non-current financial liabilities
Non-current lease liability
Trade and other non-current payables
Non-current accounts payable to related
parties
Other long-term provisions
Deferred tax liabilities
Non-current provisions for employee
benefits
Other non-current non-financial liabilities
EQUITY
Equity attributable to shareholders of Enel
Américas
Share and paid-in capital
Retained earnings (losses)
Issuance premium
Treasury shares in portfolio
Other reserves
Non-controlling interests
Total Liabilities and Equity
Argentina
Brazil
Colombia
Peru
Central America
Eliminations
Total
12-31-2021
ThUS$
130,647
9,914
Chile ( Holdings and others)
12-31-2020
ThUS$
595,828
339,842
19
46,970
208,628
-
25,629
94,134
54
-
916
-
-
369
12-31-2021
ThUS$
1,010,729
5,756
14
866,558
38,322
49,900
13,882
36,297
12-31-2020
ThUS$
689,017
6,088
78
527,729
31,787
45,167
44,383
33,785
594,560
590,081
597,203
591,722
-
-
-
-
-
-
-
-
2,057
2,422
2,521
2,960
651,831
36,210
24
53,914
509,899
40,785
45
86,559
-
-
19,116
459,883
17,231
19,760
286,936
13,920
12-31-2021
ThUS$
4,979,138
552,177
23,393
3,230,087
897,617
76,248
13,703
185,913
8,551,717
2,525,836
99,943
2,633,688
1,203,492
685,669
41,194
1,311,654
12-31-2020
ThUS$
4,192,739
797,217
15,702
2,758,445
337,202
77,844
33,986
172,343
6,168,982
1,539,623
35,901
1,962,061
369,498
714,757
40,030
1,476,884
12-31-2021
ThUS$
1,026,528
372,308
9,246
467,335
27,518
30,974
87,273
31,874
12-31-2020
ThUS$
1,206,026
454,167
4,792
492,040
72,213
40,176
110,724
31,914
1,513,850
1,213,912
53,588
874
1,537,229
1,251,199
15,639
1,136
-
-
74,773
83,284
87,419
78,504
63,683
124,248
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
ThUS$
ThUS$
(173,656)
ThUS$
(33,920)
23,733
(197,389)
61,365
(95,285)
(245,441)
(225,107)
12,133,311
-
96,643
(245,441)
(225,107)
-
-
65,453
61,894
50,241
30,228
-
2,820
18,878
22,019
-
134,572
116,961
16,145,956
16,145,956
9,529,856
9,529,856
1,764,638
1,764,638
1,872,837
1,872,837
7,626,181
7,626,181
5,151,558
5,151,558
2,370,493
2,370,493
2,505,109
2,505,109
1,567,147
1,567,147
1,467,562
1,467,562
(15,906,147)
(15,906,147)
(10,292,844)
(10,292,844)
15,030,093
12,832,657
10,333,663
8,105,859
16,512,785
3,290,142
9,763,079
3,008,390
1,733,076
(1,075,881)
953,561
(121,454)
-
(272)
(3,656,699)
-
-
-
-
-
-
(3,241,613)
1,107,443
1,040,730
5,830,987
726,440
536,514
(19,933)
552,173
3,695,565
197,561
575,327
(21,375)
704,480
167,712
843,648
380,242
195,415
972,249
88,781
-
-
978,891
1,248,664
-
-
-
-
-
-
-
-
-
-
2,197,436
2,227,804
16,871,163
10,722,887
3,427,198
3,071,753
21,157,036
15,513,279
4,910,871
5,248,364
3,220,890
2,929,146
1,697,024
(16,325,244)
(10,551,871)
34,958,938
26,933,558
(188,997)
(190,625)
62,647
(5,393,283)
(4,406,749)
(8,735,261)
(7,072,917)
(11,074,582)
1,460,024
(918,239)
19,933
(6,327,894)
1,086,144
(665,720)
21,375
15,799,499
5,768,691
9,763,078
5,415,698
-
(272)
-
-
1,483,352
272,808
1,612
-
-
-
-
997,095
407,820
-
-
-
ThUS$
7,062,479
1,396,253
312,030
828,760
3,711,141
73,759
ThUS$
6,179,256
1,506,993
230,279
560,786
3,234,935
46,950
538,276
201,740
471,433
127,880
520
-
3,473,176
3,145,421
724,851
26
2,790,863
2,332,856
578,524
32
4,756,270
1,470,225
12,997,528
6,272
327,953
992,368
4,524,826
945,512
8,354,672
7,942
222,420
994,382
ThUS$
7,795,534
1,232,834
60,687
4,912,130
955,707
164,844
183,060
286,272
4,917,583
187,891
2,689,067
1,062,498
838,819
879,400
1,423,481
ThUS$
7,277,222
1,825,130
51,495
4,093,576
597,122
220,425
222,870
266,604
9,322,673
3,837,706
91,070
2,061,475
144,391
833,900
612,953
1,624,217
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
114,235
33,646
7,879
-
98,274
1,158
849,117
-
10,977
2,702
ThUS$
72,238
-
668
22,601
33,030
-
14,559
1,380
157,224
11,124
-
-
7,442
41,695
320
12
36,068
-
-
10,033
82,872
2,675
-
138,295
29,124
55
23,092
-
-
-
-
-
70,955
159,534
253
2,371,121
2,128,997
ThUS$
627,532
227,816
30,904
207,027
42,577
57,238
33,777
28,193
734,467
414,377
39,485
11,719
20,879
219,783
6,205
ThUS$
749,910
292,679
27,366
276,187
62,475
7,668
53,643
29,892
909,570
551,544
23,212
591
7,804
51,819
251,287
4,435
1,561,410
1,561,410
1,632,426
116,498
1,483
The Eliminations column corresponds to transactions between companies in different lines of business and country,
primarily purchases and sales of energy and services.
514
Integrated Annual Report Enel Américas 2021
Peru
Central America
Eliminations
Total
12-31-2020
ThUS$
-
-
-
-
-
-
-
-
-
-
-
-
-
-
12-31-2021
ThUS$
(302,986)
12-31-2020
ThUS$
(208,594)
-
-
-
-
-
-
126
(303,112)
728
(209,322)
12-31-2021
ThUS$
7,062,479
1,396,253
312,030
828,760
3,711,141
73,759
12-31-2020
ThUS$
6,179,256
1,506,993
230,279
560,786
3,234,935
46,950
-
-
-
-
-
-
538,276
201,740
471,433
127,880
520
-
(16,022,258)
(10,343,277)
-
-
-
-
-
-
(245,049)
(225,000)
27,896,459
3,473,176
3,145,421
724,851
26
20,754,302
2,790,863
2,332,856
578,524
32
288,385
-
(16,778,099)
(10,559,536)
2,369
2,273
70,955
-
2,128,997
-
159,534
253
2,929,146
98,274
1,158
849,117
-
10,977
2,702
1,697,024
-
-
-
-
-
-
-
-
-
1,000,890
441,259
-
-
-
-
-
-
-
-
(16,325,244)
(10,551,871)
4,756,270
1,470,225
12,997,528
6,272
327,953
992,368
34,958,938
4,524,826
945,512
8,354,672
7,942
222,420
994,382
26,933,558
Peru
Central America
Eliminations
1,406,373
114,235
33,646
7,879
-
2,670,200
12
36,068
2,382,886
55
23,092
-
-
-
-
520
-
-
-
-
12-31-2021
ThUS$
550,690
140,835
61
115,248
182,201
4,930
56,516
50,899
12-31-2020
ThUS$
546,260
234,857
-
62,864
182,959
2,496
53,015
10,069
12-31-2021
ThUS$
290,651
153,022
90
8,915
64,015
55,965
6,879
1,765
33.3 Segment information by country
Country
ASSETS
CURRENT ASSETS
Cash and cash equivalents
Other current financial assets
Other current non-financial assets
Trade and other current receivables
parties
Inventories
Current tax assets
Non-current assets or disposal groups
held-for-sale or held for distribution to
owners
Current accounts receivable from related
305,735
Chile ( Holding and Others)
Argentina
Brazil
Colombia
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
ThUS$
445,620
124,187
146
4,484
1,585
-
9,483
-
ThUS$
249,106
8,050
116
16,730
1,587
213,077
9,546
-
-
ThUS$
617,133
63,620
145,102
30,526
312,034
1,694
55,911
8,246
ThUS$
603,494
139,448
65,382
42,123
310,882
148
42,883
2,628
ThUS$
ThUS$
4,804,124
4,138,518
757,875
89,881
655,856
2,822,353
6,885
342,555
128,719
741,381
160,734
411,573
2,407,709
38,761
272,754
105,606
ThUS$
657,247
156,714
76,750
13,731
328,827
1,662
76,415
2,628
ThUS$
850,472
383,257
4,047
27,496
331,070
1,790
102,781
31
NON-CURRENT ASSETS
16,425,543
10,473,781
2,810,065
2,468,259
16,352,912
11,374,761
4,253,624
4,397,892
Other non-current financial assets
Other non-current non-financial assets
Trade and other non-current receivables
-
5,157
43
-
2,980
77
Non-current accounts receivable from
245,049
225,000
26,194
831
226,424
26
25,461
898
268,536
32
Investments accounted for using the equity
16,172,024
10,245,701
309,908
315,981
3,326,017
3,041,765
470,304
2,765,194
2,272,857
276,346
-
-
-
-
6,718
27,954
20,201
-
118
153
33,029
33,565
-
127
related parties
method
Goodwill
Intangible assets other than goodwill
Investment properties
Right-of-use asset
Deferred tax assets
TOTAL ASSETS
Property, plant and equipment
2,143,757
1,762,799
-
-
-
-
-
3,270
-
-
-
-
24
(1)
86,948
-
-
49
15,928
61,159
4,523
-
124
28,746
4,322,605
460,793
3,670,373
6,272
117,760
937,023
4,256,831
494,129
304,256
7,942
43,099
954,107
165,571
4,709
135,881
5,601
3,963,160
4,158,620
-
60,872
4,321
-
19,639
11,277
16,871,163
10,722,887
3,427,198
3,071,753
21,157,036
15,513,279
4,910,871
5,248,364
Non-current assets or disposal groups held-for-sale or held for distribution to owners
Country
LIABILITIES AND EQUITY
Chile ( Holdings and others)
Argentina
Brazil
Colombia
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
CURRENT LIABILITIES
Other current financial liabilities
Current lease liability
Trade and other current payables
Current accounts payable to related parties
Other current provisions
Current tax liabilities
Other current non-financial liabilities
NON-CURRENT LIABILITIES
Other non-current financial liabilities
Non-current lease liability
Trade and other non-current payables
Non-current accounts payable to related
parties
Other long-term provisions
Deferred tax liabilities
Non-current provisions for employee
benefits
EQUITY
Américas
Equity attributable to shareholders of Enel
Share and paid-in capital
Retained earnings (losses)
Issuance premium
Treasury shares in portfolio
Other reserves
Non-controlling interests
Total Liabilities and Equity
ThUS$
130,647
9,914
-
25,629
94,134
54
-
916
ThUS$
595,828
339,842
19
46,970
208,628
-
-
369
594,560
590,081
597,203
591,722
2,057
2,422
2,521
2,960
ThUS$
1,010,729
5,756
14
866,558
38,322
49,900
13,882
36,297
651,831
36,210
24
53,914
ThUS$
689,017
6,088
78
527,729
31,787
45,167
44,383
33,785
509,899
40,785
45
86,559
-
-
19,116
459,883
17,231
19,760
286,936
13,920
ThUS$
ThUS$
ThUS$
ThUS$
4,979,138
4,192,739
1,026,528
1,206,026
3,230,087
2,758,445
552,177
23,393
897,617
76,248
13,703
185,913
8,551,717
2,525,836
99,943
2,633,688
1,203,492
685,669
41,194
1,311,654
797,217
15,702
337,202
77,844
33,986
172,343
6,168,982
1,539,623
35,901
1,962,061
369,498
714,757
40,030
1,476,884
372,308
9,246
467,335
27,518
30,974
87,273
31,874
454,167
4,792
492,040
72,213
40,176
110,724
31,914
1,513,850
1,213,912
53,588
874
-
1,537,229
1,251,199
15,639
1,136
-
74,773
83,284
87,419
78,504
63,683
124,248
16,145,956
16,145,956
9,529,856
9,529,856
1,764,638
1,764,638
1,872,837
1,872,837
7,626,181
7,626,181
5,151,558
5,151,558
2,370,493
2,370,493
2,505,109
2,505,109
16,512,785
3,290,142
9,763,079
3,008,390
1,733,076
(1,075,881)
953,561
(121,454)
5,830,987
3,695,565
726,440
536,514
(19,933)
552,173
197,561
575,327
(21,375)
704,480
-
-
-
-
-
167,712
843,648
380,242
195,415
972,249
88,781
-
-
-
-
-
-
-
16,871,163
10,722,887
3,427,198
3,071,753
21,157,036
15,513,279
4,910,871
5,248,364
-
-
-
-
-
-
(272)
-
-
-
-
-
-
-
-
The Eliminations column corresponds to transactions between companies in different lines of business and country,
primarily purchases and sales of energy and services.
Other non-current non-financial liabilities
-
65,453
61,894
50,241
30,228
-
2,820
18,878
22,019
-
12-31-2021
ThUS$
749,910
292,679
27,366
276,187
62,475
7,668
53,643
29,892
909,570
551,544
23,212
591
7,804
51,819
251,287
4,435
12-31-2020
ThUS$
627,532
227,816
30,904
207,027
42,577
57,238
33,777
28,193
734,467
414,377
39,485
11,719
12-31-2021
ThUS$
72,238
-
668
22,601
33,030
-
14,559
1,380
157,224
-
11,124
-
-
96,643
20,879
219,783
6,205
7,442
41,695
320
(3,656,699)
(3,241,613)
1,107,443
1,040,730
978,891
1,248,664
(188,997)
(190,625)
62,647
-
-
-
3,220,890
2,929,146
1,697,024
1,561,410
1,561,410
1,632,426
116,498
1,483
1,567,147
1,567,147
1,467,562
1,467,562
1,483,352
272,808
1,612
-
-
997,095
407,820
-
-
12-31-2020
ThUS$
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
10,033
82,872
2,675
2,371,121
-
138,295
29,124
3,220,890
-
-
-
12-31-2021
ThUS$
(173,656)
12-31-2020
ThUS$
(33,920)
-
-
-
-
23,733
(197,389)
61,365
(95,285)
-
-
-
-
-
-
(245,441)
(225,107)
-
-
-
-
-
-
(245,441)
(225,107)
-
-
-
-
-
-
-
-
Total
12-31-2021
ThUS$
7,795,534
1,232,834
60,687
4,912,130
955,707
164,844
183,060
286,272
12,133,311
4,917,583
187,891
2,689,067
1,062,498
838,819
879,400
1,423,481
12-31-2020
ThUS$
7,277,222
1,825,130
51,495
4,093,576
597,122
220,425
222,870
266,604
9,322,673
3,837,706
91,070
2,061,475
144,391
833,900
612,953
1,624,217
134,572
116,961
(15,906,147)
(15,906,147)
(10,292,844)
(10,292,844)
15,030,093
12,832,657
10,333,663
8,105,859
(11,074,582)
1,460,024
(918,239)
19,933
(5,393,283)
(6,327,894)
1,086,144
(665,720)
21,375
(4,406,749)
15,799,499
5,768,691
9,763,078
5,415,698
-
(272)
(8,735,261)
-
-
(7,072,917)
-
-
(16,325,244)
(10,551,871)
2,197,436
34,958,938
2,227,804
26,933,558
Consolidated Financial Statements 515
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Colombia
12-31-
2020
ThUS$
12-31-
2021
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Peru
12-31-
2020
ThUS$
Central America
Eliminations
12-31-
2019
ThUS$
12-31-
2021
ThUS$
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
(289)
12-31-
2020
ThUS$
(39)
2,611,405
2,337,750 2,538,922
1,316,723 1,243,993 1,382,940
232,548
2,525,043
2,311,045
2,513,971
1,304,744
1,235,836
1,372,801
1,732,425
1,564,664
1,734,645
1,241,473
1,187,354
1,306,624
30,159
762,459
86,362
23,990
722,391
26,705
28,737
750,589
24,951
15,273
47,998
11,979
9,849
38,633
8,157
23,489
42,688
10,139
(1,047,352)
(930,528)
(1,054,749)
(652,394)
(622,866)
(537,258)
(500,924)
(596,652)
(453,791)
(449,500)
(20,599)
(39,785)
(49,225)
(273,634)
(247,325)
(261,082)
(215,861)
(142,494)
(147,790)
(62,583)
(77,002)
(59,018)
(55,522)
(69,419)
(48,425)
(676,173)
(473,129)
(68,807)
(84,128)
(50,109)
216,619
214,056
-
2,563
15,929
(43,057)
(21,986)
-
(12,176)
(8,895)
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Total
12-31-
2020
12-31-2019
ThUS$
ThUS$
(74) 16,192,336 12,291,745
14,387,457
- 14,535,024 11,238,976
13,053,376
- 12,807,702
9,655,212
11,282,254
-
-
48,589
36,968
58,752
1,678,733
1,546,796
1,712,370
-
(10,451,383)
(7,555,915)
(8,541,023)
543
(7,711,330)
(5,337,887)
(6,096,863)
-
(116,666)
(137,850)
(277,117)
(543)
(1,020,192)
(1,016,486)
(1,110,921)
-
(1,603,195)
(1,063,692)
(1,056,122)
(305)
(39)
(74)
1,657,312
1,052,769
1,334,081
Country
Chile (Holding and Others)
Argentina
Brasil
STATEMENTS OF PROIT (LOSS)
REVENUE AND OTHER OPERATING INCOME
Revenues
Energy sales
Other sales
Other services rendered
Other income
RAW MATERIALS AND CONSUMABLES USED
Energy purchases
Fuel consumption
Transportation expenses
Other miscellaneous supplies and services
CONTRIBUTION MARGIN
12-31-2021
ThUS$
459
147
-
-
147
312
12-31-2020
ThUS$
165
-
-
-
-
165
12-31-2019
ThUS$
902
-
-
-
-
902
12-31-2021
ThUS$
1,020,808
1,002,520
959,343
3,007
40,170
18,288
12-31-2020
ThUS$
1,030,361
995,970
958,852
2,431
34,687
34,391
12-31-2019
ThUS$
1,782,532
1,481,493
1,435,040
2,771
43,682
301,039
12-31-2021
ThUS$
11,010,682
9,485,935
8,660,405
152
825,378
1,524,747
12-31-2020
ThUS$
7,679,515
6,696,125
5,944,342
698
751,085
983,390
12-31-2019
ThUS$
8,682,235
7,685,111
6,805,945
3,755
875,411
997,124
(44)
-
-
-
(44)
415
(99)
-
-
-
(99)
66
-
-
-
-
-
(547,878)
(492,225)
(1,170)
(18,016)
(36,467)
(551,514)
(490,953)
(1,180)
(24,348)
(35,033)
(903,365)
(715,723)
(100,579)
(25,949)
(61,114)
(8,160,658)
(6,206,070)
(32,314)
(639,364)
(1,282,910)
(5,450,908)
(3,896,510)
(41,363)
(675,394)
(837,641)
(5,906,736)
(4,311,902)
(58,506)
(739,219)
(797,109)
902
472,930
478,847
879,167
2,850,024
2,228,607
2,775,499
1,564,053
1,407,222
1,484,173
664,329
621,127
706,767
189,491
(289)
(39)
(74)
5,740,953 4,735,830
5,846,434
Other work performed by the entity and capitalized
Employee benefits expense
Other expenses
-
(7,532)
(24,059)
-
(5,957)
(21,054)
-
(7,695)
(23,211)
50,036
(194,075)
(175,618)
31,296
(154,984)
(169,255)
48,095
(200,284)
(175,437)
114,189
(353,816)
(662,059)
76,744
(234,994)
(632,746)
89,871
(434,266)
(713,637)
31,984
28,877
32,179
14,343
10,234
11,420
(98,364)
(107,827)
(145,507)
(148,088)
(102,834)
(146,478)
(63,957)
(93,137)
(61,284)
(94,174)
(64,674)
(92,020)
-
(12,158)
(19,156)
210,552
147,151
181,565
(729,902)
(565,046)
(809,753)
74
(1,119,232)
(1,065,278)
(1,150,709)
GROSS OPERATING RESULT
(31,176)
(26,945)
(30,004)
153,273
185,904
551,541
1,948,338
1,437,611
1,717,467
1,352,166
1,180,184
1,267,040
521,578
475,903
561,493
158,177
- 4,102,371 3,252,657
4,067,537
Depreciation and amortization expense
Impairment (losses) reversals recognized in profit or loss
Gains (losses) for impairment in accordance with IFRS 9
-
-
(110)
-
-
-
-
-
-
(191,590)
(87,492)
(8,957)
(160,424)
-
(44,434)
(143,179)
-
(42,541)
(462,945)
-
(314,155)
(393,848)
-
(167,469)
(488,163)
-
(225,557)
(192,774)
(181,986)
(195,488)
(118,166)
(121,841)
(121,500)
(27,621)
-
-
(14,354)
(16,442)
3,433
(6,609)
(8,193)
(7,653)
-
(14,027)
(1,307)
(4,418)
-
57
(993,096)
(858,099)
(948,330)
(100,057)
(345,172)
-
2,126
(242,372)
(279,125)
OPERATING INCOME
(31,286)
(26,945)
(30,004)
(134,766)
(18,954)
365,821
1,171,238
876,294
1,003,747
1,145,038
981,756
1,068,376
387,566
340,035
434,268
130,613
-
-
(4,357)
-
-
2,664,046
2,152,186
2,842,208
FINANCIAL RESULT
Financial income
Cash and cash equivalents
Other financial income
Financial costs
Bank borrowings
Income from indexation units
Other
Income from indexation units
Foreign exchange profits (losses)
(118,049)
21,333
495
20,838
(64,235)
(1,616)
(24,530)
(38,089)
-
(75,147)
(21,872)
25,063
4,066
20,997
(62,972)
(9,190)
(24,809)
(28,973)
-
16,037
(31,514)
37,675
16,018
21,657
(50,740)
(11,379)
(25,225)
(14,136)
-
(18,449)
(33,872)
90,274
50,182
40,092
(247,098)
(723)
-
(246,375)
30,667
92,285
65,733
85,954
40,218
45,736
(148,439)
(3,334)
(1)
(145,104)
76,698
51,520
160,817
122,200
90,691
31,509
(189,401)
(4,019)
-
(185,382)
124,477
103,541
Share of profit (loss) of associates and joint ventures
accounted for using the equity method
Other gains (losses)
Gain (loss) from other investments
Gain (loss) from the sale of assets
168
475
(227)
1,013
2,658
810
-
-
-
-
-
-
-
-
-
1,602
-
1,602
61
54
7
1,080
1,041
39
(478,215)
181,403
9,074
172,329
(617,330)
(104,414)
(98,599)
(414,317)
-
(42,288)
-
523
543
(20)
(391,757)
112,030
4,727
107,303
(414,707)
(45,544)
(67,717)
(301,446)
-
(89,080)
-
870
-
870
(447,507)
217,917
25,405
192,512
(679,377)
(106,312)
(112,770)
(460,295)
-
13,953
2,144
1
2,143
(97,679)
(119,660)
(140,101)
(29,964)
(26,007)
(30,553)
37,980
(727,642)
(412,178)
(450,878)
14,675
4,431
10,244
13,848
7,743
6,105
11,548
8,573
2,975
(109,145)
(132,205)
(151,500)
(12,641)
(81,574)
(14,930)
(8,732)
(91,178)
(32,295)
(10,896)
(116,309)
(24,295)
5,803
572
5,231
(28,767)
(6,963)
(20,030)
(1,774)
6,508
2,756
3,752
(31,127)
(3,223)
(24,925)
(2,979)
-
-
-
640
640
-
-
124
-
124
-
(149)
308
6
302
-
-
26
-
26
-
-
-
3,616
10,664
-
3,616
10,664
8,632
4,845
3,787
(39,268)
(1,418)
(27,055)
(10,795)
-
83
(3,111)
2,792
58
2,734
(6,328)
(6,328)
425
-
-
-
-
427
-
427
33,248
(20,838)
81,385
(20,997)
(20,838)
20,838
(20,997)
20,997
(21,656)
295,442
222,406
64,812
59,510
(21,656)
230,630
162,896
21,655
(1,052,065)
(768,453)
(1,088,631)
376,316
145,532
230,784
(134,024)
(281,359)
(673,248)
124,477
136,960
(126,357)
(70,023)
(224,733)
(208,630)
30,667
(1,686)
76,698
57,171
20,838
20,997
21,655
(700,975)
(489,800)
1,181
3,133
583
3,218
543
2,675
4,671
54
4,617
14,196
1,048
13,148
(3,209)
(1,303)
(7,000)
(1,388)
33,248
81,385
37,981
Profit (loss) before taxes
(149,167)
(48,342)
(61,745)
(166,023)
49,498
528,528
693,546
485,407
558,384
1,047,999
862,220
928,583
357,628
317,644
414,379
127,929
28,891
81,385
37,980 1,940,803
1,747,812
2,406,109
Income tax expense (income)
1,101
(3,840)
9,598
(138,296)
(36,154)
(132,137)
(183,498)
(147,963)
313,730
(327,227)
(286,707)
(302,350)
(125,751)
(91,896)
(125,187)
(32,621)
-
(806,292)
(566,560)
(236,346)
Profit (loss) from continuing operations
PROFIT (LOSS)
(148,066)
(148,066)
(52,182)
(52,182)
(52,147)
(52,147)
(304,319)
(304,319)
13,344
13,344
396,391
396,391
510,048
510,048
337,444
337,444
872,114
872,114
720,772
720,772
575,513
626,233
575,513
626,233
231,877
231,877
225,748
225,748
289,192
289,192
95,308
95,308
28,891
28,891
81,385
81,385
37,980
1,134,511
1,181,252
2,169,763
37,980 1,134,511 1,181,252
2,169,763
Profit (loss) attributable to
Profit (loss) attributable to owners of the parent
Profit (loss) attributable to non-controlling interests
(148,066)
(52,182)
(52,147)
(304,319)
13,344
396,391
510,048
337,444
872,114
720,772
575,513
626,233
231,877
225,748
289,192
95,308
28,891
81,385
37,980
1,134,511
1,181,252
2,169,763
740,859
393,652
825,197
1,614,085
356,055
555,678
Line of Business
Chile ( Holdings and others)
Argentina
Brazil
Colombia
Central America
Eliminations
Total
STATEMENT OF CASH FLOWS
Net cash flows from (used in) operating activities
Net cash flows from (used in) investing activities
Net cash flows from (used in) financing activities
12-31-2021
ThUS$
(64,071)
391,298
(920,387)
12-31-2020
ThUS$
(52,803)
175,657
(719,042)
12-31-2019
ThUS$
(49,135)
(2,220,047)
2,475,888
12-31-2021
ThUS$
396,787
(263,820)
(140,081)
12-31-2020
ThUS$
272,134
(169,918)
(59,659)
12-31-2019
ThUS$
241,095
(175,679)
(47,566)
12-31-2021
ThUS$
679,753
(1,868,087)
1,087,188
12-31-2020
ThUS$
922,297
(755,047)
(55,832)
12-31-2019
ThUS$
999,122
(855,965)
(66,875)
The Eliminations column corresponds to transactions between companies in different lines of business and country,
primarily purchases and sales of energy and services.
516
Integrated Annual Report Enel Américas 2021
304
15
(4,372)
16
-
(2)
18
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
39
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
12-31-
2021
ThUS$
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
12-31-
2020
ThUS$
12-31-
2021
ThUS$
12-31-
2020
ThUS$
12-31-
2019
ThUS$
Peru
12-31-
2019
ThUS$
12-31-
2021
ThUS$
4,077
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
12-31-
2020
12-31-2019
ThUS$
ThUS$
1,028,000
939,651
865,922
448,032
342,021
454,719
122,998
2,210
15,788
2,615,576
2,425,510
2,527,511
(587,280)
(464,647)
(386,559)
(241,946)
(176,299)
(208,685)
1,168
634,370
(145,362)
2,247,137
(1,934,297)
(1,535,616)
(1,599,798)
(641,850)
(303,393)
(705,497)
(283,804)
(192,090)
(215,929)
(85,426)
389,610
143,481
(2,262,925)
(594,750)
(1,186,535)
(822,904)
Country
Chile (Holding and Others)
Argentina
Brasil
12-31-2021
12-31-2020
12-31-2019
12-31-2021
12-31-2020
12-31-2019
12-31-2021
12-31-2020
12-31-2019
ThUS$
ThUS$
ThUS$
ThUS$
ThUS$
ThUS$
ThUS$
ThUS$
STATEMENTS OF PROIT (LOSS)
REVENUE AND OTHER OPERATING INCOME
Revenues
Energy sales
Other sales
Other services rendered
Other income
Energy purchases
Fuel consumption
Transportation expenses
RAW MATERIALS AND CONSUMABLES USED
Other miscellaneous supplies and services
902
1,020,808
1,030,361
1,782,532
11,010,682
7,679,515
8,682,235
1,002,520
995,970
1,481,493
9,485,935
6,696,125
7,685,111
959,343
958,852
1,435,040
8,660,405
5,944,342
6,805,945
3,007
40,170
18,288
2,431
34,687
34,391
2,771
43,682
152
825,378
301,039
1,524,747
698
751,085
983,390
3,755
875,411
997,124
902
(547,878)
(492,225)
(1,170)
(18,016)
(36,467)
(551,514)
(490,953)
(1,180)
(24,348)
(35,033)
(903,365)
(8,160,658)
(5,450,908)
(5,906,736)
(715,723)
(6,206,070)
(3,896,510)
(4,311,902)
(100,579)
(25,949)
(32,314)
(639,364)
(61,114)
(1,282,910)
(41,363)
(675,394)
(837,641)
(58,506)
(739,219)
(797,109)
459
147
-
-
147
312
(44)
-
-
-
-
(44)
415
-
-
(110)
-
-
-
-
ThUS$
165
-
-
-
-
-
-
-
165
(99)
(99)
66
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
CONTRIBUTION MARGIN
902
472,930
478,847
879,167
2,850,024
2,228,607
2,775,499
1,564,053
1,407,222
1,484,173
664,329
621,127
706,767
189,491
Other work performed by the entity and capitalized
-
50,036
31,296
48,095
114,189
76,744
89,871
Employee benefits expense
Other expenses
(7,532)
(24,059)
(5,957)
(21,054)
(7,695)
(23,211)
(194,075)
(175,618)
(154,984)
(169,255)
(200,284)
(175,437)
(353,816)
(662,059)
(234,994)
(632,746)
(434,266)
(713,637)
31,984
(98,364)
(145,507)
28,877
(107,827)
(148,088)
32,179
(102,834)
(146,478)
14,343
(63,957)
(93,137)
10,234
(61,284)
(94,174)
11,420
(64,674)
(92,020)
-
(12,158)
(19,156)
GROSS OPERATING RESULT
(31,176)
(26,945)
(30,004)
153,273
185,904
551,541
1,948,338
1,437,611
1,717,467
1,352,166
1,180,184
1,267,040
521,578
475,903
561,493
158,177
Depreciation and amortization expense
Impairment (losses) reversals recognized in profit or loss
Gains (losses) for impairment in accordance with IFRS 9
(191,590)
(160,424)
(143,179)
(462,945)
(393,848)
(488,163)
(87,492)
(8,957)
-
-
-
-
-
(44,434)
(42,541)
(314,155)
(167,469)
(225,557)
(192,774)
-
(14,354)
(181,986)
-
(16,442)
(195,488)
3,433
(6,609)
(118,166)
(8,193)
(7,653)
(121,841)
-
(14,027)
(121,500)
(1,307)
(4,418)
(27,621)
-
57
12-31-
2021
ThUS$
2,611,405
2,525,043
1,732,425
30,159
762,459
86,362
Colombia
12-31-
2020
ThUS$
12-31-
2019
ThUS$
2,337,750 2,538,922
2,513,971
2,311,045
1,734,645
1,564,664
28,737
23,990
750,589
722,391
24,951
26,705
Peru
12-31-
2020
ThUS$
12-31-
2021
ThUS$
12-31-
2019
ThUS$
1,316,723 1,243,993 1,382,940
1,372,801
1,235,836
1,304,744
1,306,624
1,187,354
1,241,473
23,489
9,849
15,273
42,688
38,633
47,998
10,139
8,157
11,979
(1,047,352)
(537,258)
(20,599)
(273,634)
(215,861)
(930,528)
(500,924)
(39,785)
(247,325)
(142,494)
(1,054,749)
(596,652)
(49,225)
(261,082)
(147,790)
(652,394)
(453,791)
(62,583)
(77,002)
(59,018)
(622,866)
(449,500)
(55,522)
(69,419)
(48,425)
(676,173)
(473,129)
(68,807)
(84,128)
(50,109)
12-31-
2021
ThUS$
232,548
216,619
214,056
-
2,563
15,929
(43,057)
(21,986)
-
(12,176)
(8,895)
Central America
12-31-
2020
ThUS$
-
-
-
-
-
-
12-31-
2019
ThUS$
-
-
-
-
-
-
Eliminations
12-31-
2020
ThUS$
(39)
-
-
-
-
(39)
12-31-
2021
ThUS$
(289)
16
-
(2)
18
(305)
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Total
12-31-
2020
ThUS$
(74) 16,192,336 12,291,745
- 14,535,024 11,238,976
9,655,212
- 12,807,702
36,968
48,589
-
1,546,796
1,678,733
-
1,052,769
1,657,312
(74)
12-31-2019
ThUS$
14,387,457
13,053,376
11,282,254
58,752
1,712,370
1,334,081
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
543
-
(543)
-
(10,451,383)
(7,711,330)
(116,666)
(1,020,192)
(1,603,195)
(7,555,915)
(5,337,887)
(137,850)
(1,016,486)
(1,063,692)
(8,541,023)
(6,096,863)
(277,117)
(1,110,921)
(1,056,122)
(289)
(39)
(74)
5,740,953 4,735,830
5,846,434
-
-
304
15
-
(4,372)
-
-
-
39
-
-
-
-
-
-
74
210,552
(729,902)
(1,119,232)
147,151
(565,046)
(1,065,278)
181,565
(809,753)
(1,150,709)
- 4,102,371 3,252,657
4,067,537
-
-
-
(993,096)
(100,057)
(345,172)
(858,099)
-
(242,372)
(948,330)
2,126
(279,125)
OPERATING INCOME
(31,286)
(26,945)
(30,004)
(134,766)
(18,954)
365,821
1,171,238
876,294
1,003,747
1,145,038
981,756
1,068,376
387,566
340,035
434,268
130,613
-
-
(4,357)
-
-
2,664,046
2,152,186
2,842,208
FINANCIAL RESULT
Financial income
Cash and cash equivalents
Other financial income
Financial costs
Bank borrowings
Income from indexation units
Other
Income from indexation units
Foreign exchange profits (losses)
accounted for using the equity method
Other gains (losses)
Gain (loss) from other investments
Gain (loss) from the sale of assets
(118,049)
(21,872)
(31,514)
(33,872)
(478,215)
(391,757)
(447,507)
21,333
495
20,838
(64,235)
(1,616)
(24,530)
(38,089)
25,063
4,066
20,997
(62,972)
(9,190)
(24,809)
(28,973)
37,675
16,018
21,657
(50,740)
(11,379)
(25,225)
(14,136)
(246,375)
(145,104)
(185,382)
(301,446)
(460,295)
90,274
50,182
40,092
65,733
85,954
40,218
45,736
160,817
122,200
90,691
31,509
(247,098)
(148,439)
(189,401)
(723)
-
(3,334)
(1)
(4,019)
-
30,667
92,285
76,698
51,520
124,477
103,541
1,602
-
1,602
61
54
7
1,080
1,041
39
181,403
9,074
172,329
(617,330)
(104,414)
(98,599)
(414,317)
-
-
523
543
(20)
112,030
4,727
107,303
(414,707)
(45,544)
(67,717)
-
-
870
-
870
217,917
25,405
192,512
(679,377)
(106,312)
(112,770)
-
2,144
1
2,143
Share of profit (loss) of associates and joint ventures
168
475
(227)
1,013
2,658
810
(75,147)
16,037
(18,449)
(42,288)
(89,080)
13,953
(97,679)
14,675
4,431
10,244
(109,145)
(12,641)
(81,574)
(14,930)
-
(3,209)
(119,660)
13,848
7,743
6,105
(132,205)
(8,732)
(91,178)
(32,295)
-
(1,303)
(140,101)
11,548
8,573
2,975
(151,500)
(10,896)
(116,309)
(24,295)
-
(149)
-
640
-
640
-
124
-
124
308
6
302
(29,964)
5,803
572
5,231
(28,767)
(6,963)
(20,030)
(1,774)
-
(7,000)
-
26
-
26
(26,007)
6,508
2,756
3,752
(31,127)
(3,223)
(24,925)
(2,979)
-
(1,388)
-
3,616
-
3,616
(30,553)
8,632
4,845
3,787
(39,268)
(1,418)
(27,055)
(10,795)
-
83
10,664
-
10,664
(3,111)
2,792
58
2,734
(6,328)
-
-
(6,328)
-
425
-
427
-
427
Profit (loss) before taxes
(149,167)
(48,342)
(61,745)
(166,023)
49,498
528,528
693,546
485,407
558,384
1,047,999
862,220
928,583
357,628
317,644
414,379
127,929
Income tax expense (income)
1,101
(3,840)
9,598
(138,296)
(36,154)
(132,137)
(183,498)
(147,963)
313,730
(327,227)
(286,707)
(302,350)
(125,751)
(91,896)
(125,187)
(32,621)
Profit (loss) from continuing operations
PROFIT (LOSS)
(148,066)
(148,066)
(52,182)
(52,182)
(52,147)
(52,147)
(304,319)
(304,319)
13,344
13,344
396,391
396,391
510,048
510,048
337,444
337,444
872,114
872,114
720,772
720,772
575,513
575,513
626,233
626,233
231,877
231,877
225,748
225,748
289,192
289,192
95,308
95,308
Profit (loss) attributable to
(148,066)
(52,182)
(52,147)
(304,319)
13,344
396,391
510,048
337,444
872,114
720,772
575,513
626,233
231,877
225,748
289,192
95,308
Profit (loss) attributable to owners of the parent
Profit (loss) attributable to non-controlling interests
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
33,248
(20,838)
-
(20,838)
20,838
-
-
20,838
-
33,248
-
-
-
-
81,385
(20,997)
-
(20,997)
20,997
-
-
20,997
-
81,385
-
-
-
-
37,980
(21,656)
-
(21,656)
21,655
-
-
21,655
-
37,981
(727,642)
295,442
64,812
230,630
(1,052,065)
(126,357)
(224,733)
(700,975)
30,667
(1,686)
(412,178)
222,406
59,510
162,896
(768,453)
(70,023)
(208,630)
(489,800)
76,698
57,171
(450,878)
376,316
145,532
230,784
(1,088,631)
(134,024)
(281,359)
(673,248)
124,477
136,960
1,181
3,133
583
-
-
-
3,218
543
2,675
4,671
54
4,617
14,196
1,048
13,148
28,891
81,385
37,980 1,940,803
1,747,812
2,406,109
-
-
-
(806,292)
(566,560)
(236,346)
28,891
28,891
81,385
81,385
37,980
1,181,252
37,980 1,134,511 1,181,252
1,134,511
2,169,763
2,169,763
28,891
81,385
37,980
1,134,511
740,859
393,652
1,181,252
825,197
356,055
2,169,763
1,614,085
555,678
Line of Business
Chile ( Holdings and others)
Argentina
Brazil
STATEMENT OF CASH FLOWS
Net cash flows from (used in) operating activities
ThUS$
(64,071)
ThUS$
(52,803)
ThUS$
(49,135)
Net cash flows from (used in) investing activities
391,298
175,657
(2,220,047)
Net cash flows from (used in) financing activities
(920,387)
(719,042)
2,475,888
ThUS$
396,787
(263,820)
(140,081)
ThUS$
272,134
(169,918)
(59,659)
ThUS$
241,095
ThUS$
679,753
(175,679)
(1,868,087)
(47,566)
1,087,188
ThUS$
922,297
(755,047)
(55,832)
ThUS$
999,122
(855,965)
(66,875)
12-31-2021
12-31-2020
12-31-2019
12-31-2021
12-31-2020
12-31-2019
12-31-2021
12-31-2020
12-31-2019
The Eliminations column corresponds to transactions between companies in different lines of business and country,
primarily purchases and sales of energy and services.
12-31-
2021
ThUS$
1,028,000
(587,280)
(641,850)
12-31-
2020
ThUS$
939,651
(464,647)
(303,393)
Colombia
12-31-
2019
ThUS$
865,922
(386,559)
(705,497)
Peru
Central America
Eliminations
Total
12-31-
2021
ThUS$
448,032
(241,946)
(283,804)
12-31-
2020
ThUS$
342,021
(176,299)
(192,090)
12-31-
2019
ThUS$
454,719
(208,685)
(215,929)
12-31-
2021
ThUS$
122,998
1,168
(85,426)
12-31-
2020
ThUS$
-
-
-
12-31-
2019
ThUS$
-
-
-
12-31-
2021
ThUS$
4,077
634,370
389,610
12-31-
2020
ThUS$
2,210
(145,362)
143,481
12-31-
2019
ThUS$
15,788
2,247,137
(2,262,925)
12-31-
2021
ThUS$
2,615,576
(1,934,297)
(594,750)
12-31-
2020
ThUS$
2,425,510
(1,535,616)
(1,186,535)
12-31-2019
ThUS$
2,527,511
(1,599,798)
(822,904)
Consolidated Financial Statements 517
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
33.4 Generation and Transmission, and Distribution by Country
a) Generation and transmission
Line of business
Country
ASSETS
CURRENT ASSETS
Cash and cash equivalents
Other current financial assets
Other current non-financial assets
Trade and other current receivables
Current accounts receivable from related parties
Inventories
Current tax assets
NON-CURRENT ASSETS
Other non-current financial assets
Other non-current non-financial assets
Trade and other non-current receivables
Non-current accounts receivable from related parties
Investments accounted for using the equity method
Intangible assets other than goodwill
Goodwill
Property, plant and equipment
Right-of-use asset
Deferred tax assets
TOTAL ASSETS
Line of business
Country
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Other current financial liabilities
Current lease liability
Trade and other current payables
Current accounts payable to related parties
Other current provisions
Current tax liabilities
Other current non-financial liabilities
NON-CURRENT LIABILITIES
Other non-current financial liabilities
Non-current lease liability
Trade and other non-current payables
Non-current accounts payable to related parties
Other long-term provisions
Deferred tax liabilities
Non-current provisions for employee benefits
Other non-current non-financial liabilities
EQUITY
Equity attributable to shareholders of Enel Américas
Share and paid-in capital
Retained earnings (losses)
Issuance premiums
Treasury shares
Other reserves
TOTAL LIABILITIES AND EQUITY
Argentina
Brazil
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
341,299
50,719
110,340
13,328
98,619
19,263
43,587
5,443
618,490
26,189
782
297,094
80,741
41,991
12,401
111,216
18,509
29,608
2,628
715,591
25,454
839
226,047
268,076
11,199
1,158
12,963
-
18,411
1,145
11,092
-
786,002
417,963
34,053
34,081
155,202
117,535
8,613
18,555
725,298
167,713
31,382
25,705
444,478
38,033
320
17,667
4,292,782
693,610
2,438,355
2,420,482
1,519,479
1,193,666
1,406,373
10,275,479
5,023,349
365,845
46,944
6,515
-
53,658
205,812
-
267,351
12,463
8,020
-
55,520
69,410
-
331,081
371,322
3,542,071
266,974
2,330,673
2,373,206
1,217,004
8,269,946
3,953,188
-
9,071
-
19,252
43,822
28,115
184
13,688
30,073
2,136
959,789
1,012,685
5,078,784
1,418,908
2,625,357
2,774,428
1,855,448
1,569,496
1,697,024
(215)
12,216,187
6,775,517
Argentina
Brazil
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
Colombia
Peru
Centro America
Eliminations
Total
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
ThUS$
ThUS$
ThUS$
147,137
5,756
-
68,361
34,873
6,629
13,775
17,743
161,117
6,088
-
60,088
29,041
1,380
41,620
22,900
133,970
36,210
144,807
40,785
-
-
-
54
54,384
4,034
39,288
678,682
678,682
623,259
(126,251)
-
-
-
-
-
62
52,504
3,190
48,266
706,761
706,761
561,138
11,406
-
-
971,751
61,544
4,633
594,020
280,513
163
13,672
17,206
779,011
676,689
40,152
9,103
-
8,569
34,870
-
9,628
3,328,022
3,328,022
2,887,438
283,482
-
(50)
665,046
21,768
138
578,444
49,014
(3)
7,071
8,614
179,215
127,378
83
215
19,252
1,730
29,787
-
770
574,647
574,647
215,930
237,270
-
(54)
181,674
134,217
157,152
121,501
959,789
1,012,685
5,078,784
1,418,908
542,365
616,292
(11,418)
62,647
2,625,357
2,774,428
1,855,448
1,569,496
1,697,024
(215)
Colombia
Peru
Centro America
Eliminations
Total
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
ThUS$
ThUS$
ThUS$
ThUS$
1,940,708
1,752,168
ThUS$
(215)
ThUS$
375,830
190,853
-
23,333
73,008
52,641
26,581
9,414
55
23,092
25,534
51,887
25,945
-
-
941,686
125,217
250
ThUS$
255,734
26,187
19,547
89,995
32,579
48,883
31,538
7,005
16,927
10,993
-
-
20,420
189,127
1,906
20,258
ThUS$
290,651
153,022
90
8,915
64,015
55,965
6,879
1,765
114,235
33,646
7,879
-
288,385
98,274
1,158
849,117
10,977
2,702
ThUS$
72,238
-
668
22,601
33,030
-
14,559
1,380
11,124
-
-
96,643
7,442
41,695
320
-
ThUS$
187,002
62,443
13,267
4,393
80,857
1,024
23,135
1,883
118
8,236
3,949
2,081
63,225
-
-
-
ThUS$
444,371
151,919
4,974
172,812
16,305
20,259
67,973
10,129
614,399
419,434
26,329
643
-
64,963
83,284
19,746
-
164,398
526,401
333,423
-
ThUS$
353,946
239,549
3,773
9,254
70,578
926
29,866
-
151
8,378
4,023
2,475
30,113
-
-
-
ThUS$
570,719
263,242
1,793
153,466
45,183
29,096
70,498
7,441
697,178
542,592
515
764
-
61,967
63,683
27,657
-
191,473
665,670
33,096
-
ThUS$
335,969
80,173
18
81,998
69,769
27,428
25,913
50,670
36,068
-
-
42,211
57,026
29,019
2,675
106,358
29,118
ThUS$
306,937
67,631
11,244
109,049
55,358
2,660
47,052
13,943
172,057
6,426
-
7,804
51,404
229,763
1,403
17,523
1,062,131
1,062,131
964,040
104,227
3,684
-
(9,820)
1,566,587
1,506,531
1,566,587
1,506,531
1,054,131
1,054,131
853,156
208,351
4,042
-
1,467,562
1,467,562
997,095
407,820
-
-
486,380
259,631
157,224
(223)
(8)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
8
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
ThUS$
(215)
(215)
-
-
-
-
8
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
764,320
157,768
142,715
468,470
220,992
108,127
78,316
506,387
125,676
244,390
53,410
402,308
409,293
3,833
191,230
69,006
1,942,219
286,850
21,519
966,843
419,864
29,711
157,031
60,401
2,170,984
1,304,390
84,031
9,746
104,447
132,432
443,996
25,503
66,439
8,102,984
8,102,984
5,636,230
1,195,679
337,107
(50)
934,018
12,216,187
678,856
77,146
70,693
699,288
110,101
86,375
29,709
293,011
44,772
280,119
43,945
111,027
136,560
-
127,537
33,190
12-31-2020
ThUS$
1,652,616
317,285
21,478
881,993
155,817
79,356
150,727
45,960
1,280,831
727,682
11,591
979
19,252
84,179
335,101
32,753
69,294
3,842,070
3,842,070
1,821,697
1,122,697
37,138
(54)
860,592
6,775,517
The Eliminations column corresponds to transactions between companies in different lines of business and country,
primarily purchases and sales of energy and services.
518
Integrated Annual Report Enel Américas 2021
33.4 Generation and Transmission, and Distribution by Country
a) Generation and transmission
Line of business
Country
ASSETS
CURRENT ASSETS
Cash and cash equivalents
Other current financial assets
Other current non-financial assets
Trade and other current receivables
Current accounts receivable from related parties
Inventories
Current tax assets
NON-CURRENT ASSETS
Other non-current financial assets
Other non-current non-financial assets
Trade and other non-current receivables
Non-current accounts receivable from related parties
Investments accounted for using the equity method
Intangible assets other than goodwill
Goodwill
Property, plant and equipment
Right-of-use asset
Deferred tax assets
TOTAL ASSETS
Line of business
Country
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Other current financial liabilities
Current lease liability
Trade and other current payables
Current accounts payable to related parties
Other current provisions
Current tax liabilities
Other current non-financial liabilities
NON-CURRENT LIABILITIES
Other non-current financial liabilities
Non-current lease liability
Trade and other non-current payables
Non-current accounts payable to related parties
Other long-term provisions
Deferred tax liabilities
Non-current provisions for employee benefits
Other non-current non-financial liabilities
EQUITY
Equity attributable to shareholders of Enel Américas
Share and paid-in capital
Retained earnings (losses)
Issuance premiums
Treasury shares
Other reserves
TOTAL LIABILITIES AND EQUITY
226,047
268,076
331,081
371,322
3,542,071
266,974
9,071
19,252
Argentina
Brazil
12-31-2021
12-31-2020
12-31-2021
12-31-2020
ThUS$
297,094
80,741
41,991
12,401
111,216
18,509
29,608
2,628
715,591
25,454
839
18,411
1,145
11,092
-
-
ThUS$
161,117
6,088
-
60,088
29,041
1,380
41,620
22,900
-
-
-
62
52,504
3,190
48,266
706,761
706,761
561,138
11,406
-
-
ThUS$
786,002
417,963
34,053
34,081
155,202
117,535
8,613
18,555
365,845
46,944
6,515
53,658
205,812
-
-
43,822
28,115
ThUS$
971,751
61,544
4,633
594,020
280,513
163
13,672
17,206
779,011
676,689
40,152
9,103
8,569
34,870
-
-
9,628
3,328,022
3,328,022
2,887,438
283,482
-
(50)
ThUS$
725,298
167,713
31,382
25,705
444,478
38,033
320
17,667
267,351
12,463
8,020
55,520
69,410
-
-
184
13,688
ThUS$
665,046
21,768
138
578,444
49,014
(3)
7,071
8,614
179,215
127,378
83
215
19,252
1,730
29,787
-
770
574,647
574,647
215,930
237,270
-
(54)
ThUS$
341,299
50,719
110,340
13,328
98,619
19,263
43,587
5,443
618,490
26,189
782
11,199
1,158
12,963
-
-
ThUS$
147,137
5,756
-
68,361
34,873
6,629
13,775
17,743
-
-
-
54
54,384
4,034
39,288
678,682
678,682
623,259
(126,251)
-
-
133,970
36,210
144,807
40,785
The Eliminations column corresponds to transactions between companies in different lines of business and country,
primarily purchases and sales of energy and services.
181,674
134,217
157,152
121,501
959,789
1,012,685
5,078,784
1,418,908
Argentina
Brazil
12-31-2021
12-31-2020
12-31-2021
12-31-2020
Colombia
Peru
Centro America
Eliminations
Total
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
187,002
62,443
13,267
4,393
80,857
1,024
23,135
1,883
353,946
239,549
3,773
9,254
70,578
926
29,866
-
335,969
80,173
18
81,998
69,769
27,428
25,913
50,670
375,830
190,853
-
23,333
73,008
52,641
26,581
9,414
290,651
153,022
90
8,915
64,015
55,965
6,879
1,765
4,292,782
693,610
2,438,355
2,420,482
1,519,479
1,193,666
1,406,373
118
8,236
3,949
-
2,081
63,225
-
151
8,378
4,023
-
2,475
30,113
-
-
36,068
-
42,211
57,026
29,019
2,675
2,330,673
2,373,206
1,217,004
30,073
-
2,136
-
106,358
29,118
55
23,092
-
25,534
51,887
25,945
-
941,686
125,217
250
114,235
33,646
7,879
-
288,385
98,274
1,158
849,117
10,977
2,702
959,789
1,012,685
5,078,784
1,418,908
2,625,357
2,774,428
1,855,448
1,569,496
1,697,024
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(215)
-
-
-
8
(223)
-
-
-
-
-
-
-
-
-
-
-
-
-
(215)
-
-
-
-
8
(8)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,940,708
1,752,168
764,320
157,768
142,715
468,470
220,992
108,127
78,316
678,856
77,146
70,693
699,288
110,101
86,375
29,709
10,275,479
5,023,349
506,387
125,676
244,390
53,410
402,308
409,293
3,833
293,011
44,772
280,119
43,945
111,027
136,560
-
8,269,946
3,953,188
191,230
69,006
127,537
33,190
12,216,187
6,775,517
Colombia
Peru
Centro America
Eliminations
Total
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
12-31-2021
ThUS$
12-31-2020
ThUS$
444,371
151,919
4,974
172,812
16,305
20,259
67,973
10,129
614,399
419,434
26,329
643
-
64,963
83,284
19,746
-
570,719
263,242
1,793
153,466
45,183
29,096
70,498
7,441
697,178
542,592
515
764
-
61,967
63,683
27,657
-
1,566,587
1,506,531
1,566,587
1,506,531
164,398
526,401
333,423
-
191,473
665,670
33,096
-
542,365
616,292
306,937
255,734
72,238
67,631
11,244
109,049
55,358
2,660
47,052
13,943
26,187
19,547
89,995
32,579
48,883
31,538
7,005
-
668
22,601
33,030
-
14,559
1,380
486,380
259,631
157,224
172,057
6,426
-
7,804
51,404
229,763
1,403
17,523
1,062,131
1,062,131
964,040
104,227
3,684
-
(9,820)
16,927
10,993
-
-
20,420
189,127
1,906
20,258
1,054,131
1,054,131
853,156
208,351
4,042
-
-
11,124
-
96,643
7,442
41,695
320
-
1,467,562
1,467,562
997,095
407,820
-
-
(11,418)
62,647
2,625,357
2,774,428
1,855,448
1,569,496
1,697,024
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(215)
-
-
-
(215)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(215)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
12-31-2021
ThUS$
1,942,219
12-31-2020
ThUS$
1,652,616
286,850
21,519
966,843
419,864
29,711
157,031
60,401
2,170,984
1,304,390
84,031
9,746
104,447
132,432
443,996
25,503
66,439
8,102,984
8,102,984
5,636,230
1,195,679
337,107
(50)
934,018
12,216,187
317,285
21,478
881,993
155,817
79,356
150,727
45,960
1,280,831
727,682
11,591
979
19,252
84,179
335,101
32,753
69,294
3,842,070
3,842,070
1,821,697
1,122,697
37,138
(54)
860,592
6,775,517
Consolidated Financial Statements 519
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
12-31-
2021
ThUS$
Peru
12-31-
2020
ThUS$
12-31-
2019
ThUS$
565,687
500,821
590,425
547,793
490,576
566,368
14,005
3,889
7,468
(20,243)
(62,583)
(77,002)
(15,285)
(27,700)
(48,108)
323,475
(59,696)
(7,442)
(1,270)
(5,716)
1,897
334
1,563
(5,801)
(1,988)
(1,057)
(2,756)
-
(1,812)
50,020
-
-
-
-
9,032
1,213
4,425
(27,014)
(55,522)
(69,419)
(10,383)
22,467
1,590
5,815
(39,851)
(68,807)
(84,128)
(11,618)
(26,958)
(44,949)
(27,851)
(44,023)
271,919
321,539
(64,032)
-
12
5,087
4,787
2,331
2,456
(411)
(1,547)
(2,896)
-
5,154
31,653
-
-
3,611
3,611
(65,767)
(1,307)
(10)
(6,146)
7,373
4,137
3,236
(94)
(1,965)
(10,030)
-
(1,430)
21,311
(22,741)
-
10
-
10
12-31-
2021
ThUS$
216,619
214,056
-
2,563
15,929
(43,057)
(21,986)
(12,176)
(8,895)
-
-
(12,158)
(19,156)
158,177
(27,621)
-
57
(3,111)
2,792
58
2,734
(6,328)
425
1,667
(1,242)
-
-
-
-
427
-
427
Central America
Eliminations
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
(235)
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Total
12-31-
2020
ThUS$
12-31-
2019
ThUS$
(235)
(49)
4,774,522
2,977,178
3,007,419
4,670,098
2,880,510
2,885,369
42,610
61,814
76,172
32,291
64,377
23,651
48,946
73,104
49,637
(2,550,453)
(1,375,163)
(1,218,451)
543
(2,004,478)
(918,086)
(578,373)
(116,682)
(137,850)
(277,116)
(543)
(297,568)
(226,531)
(260,281)
(131,725)
(92,696)
(102,681)
235
49
(206,453)
(145,700)
(136,526)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(2,705)
(30,010)
27,305
(1,208)
1,208
15,431
3,946
10,023
(144,033)
(101,339)
(114,226)
1,965,186
1,382,573
1,597,876
(354,523)
(240,241)
(261,958)
(89,344)
-
(1,307)
(8,930)
(934)
645
1,512,389
1,141,398
1,335,256
96,341
33,709
62,632
(37,419)
(63,195)
(66,922)
(164,888)
46,343
248,665
93,720
32,879
60,841
(3,945)
(70,317)
(75,488)
(85,734)
85,604
230,275
4,788
153,668
99,237
54,431
(12,603)
(80,638)
(85,737)
(83,759)
113,857
325,816
(202,322)
(144,671)
(211,959)
982
2,630
790
2,100
-
2,100
3,764
50
3,714
1,287
1,042
245
255,067
207,899
254,455
130,613
(2,705)
(189,740)
(56,160)
(4,854)
(12,089)
(6,328)
(167,536)
(149,750)
(178,978)
Line of business
Country
STATEMENTS OF PROIT (LOSS)
REVENUE AND OTHER OPERATING INCOME
Revenues
Energy sales
Other sales
Other services rendered
Other income
12-31-
2021
ThUS$
227,924
223,247
Argentina
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Brazil
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Colombia
12-31-
2020
ThUS$
12-31-
2019
ThUS$
230,575
436,376
2,551,440
1,105,875
777,501
1,265,862
1,159,133
1,246,988
573,155
505,246
596,240
232,548
(49)
4,850,694
3,000,829
3,057,056
224,081
415,055
2,503,577
1,102,091
761,534
1,265,392
1,150,185
1,240,405
221,484
220,869
413,343
2,449,812
1,040,995
691,904
1,236,953
1,128,070
1,213,754
354
1,409
4,677
1,281
1,931
6,494
-
1,712
21,321
-
53,765
47,863
-
61,096
3,784
-
28,251
21,978
69,630
15,967
188
470
137
8,948
26,479
172
6,583
RAW MATERIALS AND CONSUMABLES USED
(17,329)
(19,110)
(129,661)
(1,906,531)
(781,186)
(418,618)
(408,423)
(412,529)
(465,768)
(175,113)
(162,338)
(204,404)
Energy purchases
Fuel consumption
Transportation expenses
(2,020)
(1,170)
(3,578)
(969)
(1,180)
(6,542)
Other miscellaneous supplies and services
(10,561)
(10,419)
(877)
(1,807,435)
(710,206)
(328,984)
(152,794)
(179,897)
(209,204)
(100,579)
(8,959)
(19,246)
(32,330)
(51,486)
(15,280)
(41,363)
(58,505)
(20,599)
(39,785)
(49,225)
(23,874)
(28,107)
(153,326)
(126,696)
(138,544)
(5,743)
(3,022)
(81,704)
(66,151)
(68,795)
CONTRIBUTION MARGIN
210,595
211,465
306,715
644,909
324,689
358,883
857,439
746,604
781,220
398,042
342,908
391,836
189,491
(235)
(49)
2,300,241
1,625,666
1,838,605
Other work performed by the entity and
capitalized
2,566
375
4,785
8,387
215
653
3,237
2,438
3,008
1,241
918
1,577
Employee benefits expense
Other expenses
(38,733)
(39,649)
(30,398)
(41,328)
(38,147)
(28,259)
(34,062)
(57,537)
(12,934)
(14,876)
(16,422)
(22,191)
(31,380)
(42,238)
(31,049)
(44,547)
(31,806)
(42,102)
GROSS OPERATING RESULT
134,779
140,114
245,094
561,697
297,094
320,923
787,058
673,446
710,320
Depreciation and amortization expense
(108,849)
(86,575)
(89,645)
(90,077)
(23,371)
(32,785)
(68,280)
(66,263)
(73,761)
Impairment (losses) reversals recognized in
profit or loss
Gains (losses) for impairment in
accordance with IFRS 9
(81,902)
-
-
-
-
(380)
(96)
(40)
(5,910)
(535)
-
32
-
-
-
(1,427)
(315)
663
OPERATING INCOME
FINANCIAL RESULT
Financial income
Cash and cash equivalents
Other financial income
Financial costs
Bank borrowings
Secured and unsecured obligations
Other
Income from indexation units
Foreign exchange profits (losses)
Positive
Negative
Share of profit (loss) of associates and joint
ventures accounted for using the equity
method
Other gains (losses)
Gain (loss) from other investments
Gain (loss) from the sale of assets
(56,352)
(38,372)
66,576
27,211
39,365
(8,318)
53,443
155,409
465,710
273,188
288,170
717,351
606,868
6,766
72,368
27,765
44,603
73,292
98,572
82,760
15,812
(100,239)
5,214
19,427
(42,302)
(70,522)
21,434
11,100
41,484
3,699
17,735
(1,009)
12,109
7,644
33,840
3,642
2,407
1,235
5,465
3,792
1,673
(29,397)
(47,784)
(100,262)
(39,278)
(31,209)
(46,827)
(76,221)
637,222
(81,785)
6,239
4,696
1,543
(87,896)
(2,522)
(76,258)
(9,116)
-
(128)
8,167
(579)
(13,088)
(25,611)
-
33,392
48,805
(9,925)
(2,415)
(18,869)
-
9,152
62,728
(3,112)
-
(41,015)
(55,682)
(2,700)
(20,539)
-
883
23,440
-
234
5,594
49,529
106,263
(21,411)
(318)
(2,955)
-
-
(62)
-
(26,442)
(85,734)
(47,722)
(83,759)
(8,000)
(164,888)
68,258
96,832
174,233
234,818
(28,574)
(124,704)
(128,555)
982
2,630
790
1,602
-
1,602
50
50
-
1,042
1,042
-
(32,001)
(21,123)
(47,138)
-
76,706
(98,117)
-
5
-
5
(15,413)
(53,576)
(22,557)
(5,360)
(8,295)
(51,832)
(26,499)
-
-
-
-
-
-
-
-
-
-
-
66
-
66
103
-
103
235
-
235
Profit (loss) before taxes
(92,140)
62,889
230,533
365,476
278,402
307,597
675,115
536,449
555,672
249,351
216,597
248,319
127,929
(2,705)
1,325,731
1,091,632
1,342,121
Income tax expense (income)
2,238
(15,129)
(48,085)
(114,871)
(66,505)
(116,746)
(216,981)
(188,883)
(180,207)
(83,976)
(56,056)
(74,300)
(32,621)
(446,211)
(326,573)
(419,338)
Profit (loss) from continuing operations
PROFIT (LOSS)
(89,902)
(89,902)
47,760
182,448
250,605
211,897
190,851
458,134
347,566
375,465
47,760
182,448
250,605
211,897
190,851
458,134
347,566
375,465
165,375
160,541
165,375
160,541
174,019
174,019
95,308
95,308
(2,705)
(2,705)
879,520
765,059
922,783
879,520
765,059
922,783
Country
STATEMENT OF CASH FLOWS
Net cash flows from (used in) operating
activities
Net cash flows from (used in) investing
activities
Net cash flows from (used in) financing
activities
12-31-
2021
ThUS$
Argentina
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Brazil
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Colombia
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Peru
12-31-
2020
ThUS$
Central America
Eliminations
12-31-
2019
ThUS$
12-31-
2021
ThUS$
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Total
12-31-
2020
ThUS$
12-31-
2019
ThUS$
142,938
125,114
128,806
741,313
193,848
206,616
606,661
549,006
509,622
231,550
242,006
207,268
122,998
1,845,460
1,109,985
1,052,312
(66,607)
(59,107)
6,478
(882,706)
(9,470)
34,463
(262,588)
(54,430)
(85,078)
(61,467)
(41,680)
(40,386)
1,168
(96,806)
(54,520)
(115,161)
237,780
(162,012)
(221,809)
(516,366)
(353,785)
(545,075)
(277,911)
(227,426)
(157,902)
(85,426)
-
-
-
-
-
-
-
-
-
11
-
-
-
-
-
(1,272,200)
(164,687)
(84,523)
(738,729)
(797,743)
(1,039,947)
The Eliminations column corresponds to transactions between companies in different lines of business and country,
primarily purchases and sales of energy and services.
520
Integrated Annual Report Enel Américas 2021
Central America
Eliminations
12-31-
2019
ThUS$
12-31-
2021
ThUS$
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Total
12-31-
2020
ThUS$
12-31-
2019
ThUS$
Argentina
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Brazil
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Colombia
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Peru
12-31-
2020
ThUS$
REVENUE AND OTHER OPERATING INCOME
230,575
436,376
2,551,440
1,105,875
777,501
1,265,862
1,159,133
1,246,988
573,155
505,246
596,240
232,548
565,687
500,821
590,425
547,793
490,576
566,368
14,005
3,889
7,468
9,032
1,213
4,425
22,467
1,590
5,815
(175,113)
(162,338)
(204,404)
(20,243)
(62,583)
(77,002)
(15,285)
(27,014)
(55,522)
(69,419)
(10,383)
(39,851)
(68,807)
(84,128)
(11,618)
216,619
214,056
-
2,563
15,929
(43,057)
(21,986)
-
(12,176)
(8,895)
398,042
342,908
391,836
189,491
1,241
918
1,577
-
(27,700)
(48,108)
323,475
(59,696)
(7,442)
(1,270)
(26,958)
(44,949)
(27,851)
(44,023)
271,919
321,539
(64,032)
-
12
(65,767)
(1,307)
(10)
(12,158)
(19,156)
158,177
(27,621)
-
57
53,443
155,409
465,710
273,188
288,170
717,351
606,868
255,067
207,899
254,455
130,613
Line of business
Country
STATEMENTS OF PROIT (LOSS)
Revenues
Energy sales
Other sales
Other services rendered
Other income
Energy purchases
Fuel consumption
Transportation expenses
capitalized
Employee benefits expense
Other expenses
profit or loss
Gains (losses) for impairment in
accordance with IFRS 9
OPERATING INCOME
FINANCIAL RESULT
Financial income
Cash and cash equivalents
Other financial income
Financial costs
Bank borrowings
Secured and unsecured obligations
Income from indexation units
Foreign exchange profits (losses)
Other
Positive
Negative
12-31-
2021
ThUS$
227,924
223,247
354
1,409
4,677
(2,020)
(1,170)
(3,578)
1,281
1,931
6,494
(969)
(1,180)
(6,542)
224,081
415,055
2,503,577
1,102,091
761,534
1,265,392
1,150,185
1,240,405
221,484
220,869
413,343
2,449,812
1,040,995
691,904
1,236,953
1,128,070
1,213,754
-
1,712
21,321
-
53,765
47,863
-
61,096
3,784
-
28,251
21,978
69,630
15,967
188
470
137
8,948
26,479
172
6,583
RAW MATERIALS AND CONSUMABLES USED
(17,329)
(19,110)
(129,661)
(1,906,531)
(781,186)
(418,618)
(408,423)
(412,529)
(465,768)
Other miscellaneous supplies and services
(10,561)
(10,419)
(5,743)
(3,022)
(81,704)
(66,151)
(68,795)
CONTRIBUTION MARGIN
210,595
211,465
306,715
644,909
324,689
358,883
857,439
746,604
781,220
Other work performed by the entity and
2,566
375
4,785
8,387
215
653
3,237
2,438
3,008
(877)
(1,807,435)
(710,206)
(328,984)
(152,794)
(179,897)
(209,204)
(41,363)
(58,505)
(20,599)
(39,785)
(49,225)
(23,874)
(28,107)
(153,326)
(126,696)
(138,544)
(100,579)
(8,959)
(19,246)
(32,330)
(51,486)
(15,280)
(38,733)
(39,649)
(30,398)
(41,328)
(38,147)
(28,259)
(34,062)
(57,537)
(12,934)
(14,876)
(16,422)
(22,191)
(31,380)
(42,238)
(31,049)
(44,547)
(31,806)
(42,102)
GROSS OPERATING RESULT
134,779
140,114
245,094
561,697
297,094
320,923
787,058
673,446
710,320
Depreciation and amortization expense
(108,849)
(86,575)
(89,645)
(90,077)
(23,371)
(32,785)
(68,280)
(66,263)
(73,761)
Impairment (losses) reversals recognized in
(81,902)
-
-
-
-
-
-
-
(380)
(96)
(40)
(5,910)
(535)
(1,427)
(315)
663
(100,239)
5,214
19,427
(42,302)
(70,522)
21,434
11,100
41,484
3,699
17,735
(1,009)
12,109
7,644
33,840
(29,397)
(47,784)
(100,262)
(39,278)
(31,209)
(46,827)
(76,221)
6,766
72,368
27,765
44,603
73,292
98,572
82,760
15,812
(62)
-
(318)
(2,955)
-
-
(56,352)
(38,372)
66,576
27,211
39,365
(8,318)
(8,000)
(164,888)
68,258
96,832
(26,442)
(85,734)
(47,722)
(83,759)
49,529
106,263
(21,411)
174,233
234,818
(579)
(13,088)
(25,611)
-
33,392
48,805
(9,925)
(2,415)
(18,869)
-
9,152
62,728
-
32
-
-
-
-
(41,015)
(55,682)
(2,700)
(20,539)
3,642
2,407
1,235
(3,112)
-
883
23,440
-
66
-
66
5,465
3,792
1,673
-
-
-
234
5,594
103
-
103
637,222
(81,785)
6,239
4,696
1,543
(87,896)
(2,522)
(76,258)
(9,116)
-
(128)
8,167
-
235
-
235
(32,001)
(21,123)
(47,138)
76,706
(98,117)
-
-
5
-
5
Share of profit (loss) of associates and joint
982
2,630
790
ventures accounted for using the equity
method
Other gains (losses)
Gain (loss) from other investments
Gain (loss) from the sale of assets
1,602
-
1,602
50
50
-
1,042
1,042
-
-
-
-
-
(28,574)
(124,704)
(128,555)
(15,413)
(53,576)
(22,557)
(5,360)
(8,295)
(51,832)
(26,499)
-
-
-
-
-
3,611
-
3,611
(94)
(1,965)
(10,030)
-
(1,430)
21,311
(22,741)
-
10
-
10
-
-
(6,328)
-
425
1,667
(1,242)
-
427
-
427
5,087
4,787
2,331
2,456
(6,146)
7,373
4,137
3,236
(3,111)
2,792
58
2,734
(4,854)
(12,089)
(6,328)
(5,716)
1,897
334
1,563
(5,801)
(1,988)
(1,057)
(2,756)
-
(1,812)
50,020
(411)
(1,547)
(2,896)
-
5,154
31,653
Profit (loss) before taxes
(92,140)
62,889
230,533
365,476
278,402
307,597
675,115
536,449
555,672
249,351
216,597
248,319
127,929
Income tax expense (income)
2,238
(15,129)
(48,085)
(114,871)
(66,505)
(116,746)
(216,981)
(188,883)
(180,207)
(83,976)
(56,056)
(74,300)
(32,621)
Profit (loss) from continuing operations
47,760
182,448
250,605
211,897
190,851
458,134
347,566
375,465
PROFIT (LOSS)
47,760
182,448
250,605
211,897
190,851
458,134
347,566
375,465
(89,902)
(89,902)
165,375
160,541
165,375
160,541
174,019
174,019
95,308
95,308
12-31-
2021
ThUS$
(235)
-
-
-
-
(235)
-
-
-
-
-
(235)
-
-
235
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(2,705)
-
-
-
-
-
-
-
-
(2,705)
(30,010)
27,305
-
-
-
-
(2,705)
-
(2,705)
(2,705)
(49)
4,850,694
3,000,829
3,057,056
-
-
-
-
(49)
4,774,522
2,977,178
3,007,419
4,670,098
2,880,510
2,885,369
42,610
61,814
76,172
32,291
64,377
23,651
48,946
73,104
49,637
-
(2,550,453)
(1,375,163)
(1,218,451)
543
(2,004,478)
(918,086)
(578,373)
-
(116,682)
(137,850)
(277,116)
(543)
(297,568)
(226,531)
(260,281)
-
(131,725)
(92,696)
(102,681)
(49)
2,300,241
1,625,666
1,838,605
-
-
15,431
3,946
10,023
(144,033)
(101,339)
(114,226)
49
(206,453)
(145,700)
(136,526)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(1,208)
1,208
-
-
-
-
-
-
-
-
1,965,186
1,382,573
1,597,876
(354,523)
(240,241)
(261,958)
(89,344)
-
(1,307)
(8,930)
(934)
645
1,512,389
1,141,398
1,335,256
(189,740)
(56,160)
96,341
33,709
62,632
93,720
32,879
60,841
4,788
153,668
99,237
54,431
(167,536)
(149,750)
(178,978)
(37,419)
(63,195)
(66,922)
(164,888)
46,343
248,665
(3,945)
(70,317)
(75,488)
(85,734)
85,604
230,275
(12,603)
(80,638)
(85,737)
(83,759)
113,857
325,816
(202,322)
(144,671)
(211,959)
982
2,630
790
2,100
-
2,100
3,764
50
3,714
1,287
1,042
245
1,325,731
1,091,632
1,342,121
(446,211)
(326,573)
(419,338)
879,520
765,059
922,783
879,520
765,059
922,783
12-31-
2021
ThUS$
Argentina
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Brazil
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Colombia
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Peru
12-31-
2020
ThUS$
Central America
Eliminations
12-31-
2019
ThUS$
12-31-
2021
ThUS$
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Total
12-31-
2020
ThUS$
12-31-
2019
ThUS$
Net cash flows from (used in) operating
142,938
125,114
128,806
741,313
193,848
206,616
606,661
549,006
509,622
231,550
242,006
207,268
122,998
Net cash flows from (used in) investing
(66,607)
(59,107)
6,478
(882,706)
(9,470)
34,463
(262,588)
(54,430)
(85,078)
(61,467)
(41,680)
(40,386)
1,168
Net cash flows from (used in) financing
(96,806)
(54,520)
(115,161)
237,780
(162,012)
(221,809)
(516,366)
(353,785)
(545,075)
(277,911)
(227,426)
(157,902)
(85,426)
-
-
-
-
-
-
-
-
-
11
-
-
-
-
-
1,845,460
1,109,985
1,052,312
(1,272,200)
(164,687)
(84,523)
(738,729)
(797,743)
(1,039,947)
STATEMENT OF CASH FLOWS
Country
activities
activities
activities
The Eliminations column corresponds to transactions between companies in different lines of business and country,
primarily purchases and sales of energy and services.
Consolidated Financial Statements 521
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
b) Distribution
Line of business
Country
ASSETS
CURRENT ASSETS
Cash and cash equivalents
Other current financial assets
Other current non-financial assets
Trade and other current receivables
Current accounts receivable from related parties
Inventories
Current tax assets
Non-current assets or disposal groups held-for-sale or held for
distribution to owners
NON-CURRENT ASSETS
Other non-current financial assets
Other non-current non-financial assets
Trade and other non-current receivables
Non-current accounts receivable from related parties
Investments accounted for using the equity method
Intangible assets other than goodwill
Property, plant and equipment
Investment properties
Right-of-use asset
Deferred tax assets
TOTAL ASSETS
Line of business
Country
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Other current financial liabilities
Current lease liability
Trade and other current payables
Current accounts payable to related parties
Other current provisions
Current tax liabilities
Other current non-financial liabilities
NON-CURRENT LIABILITIES
Other non-current financial liabilities
Non-current lease liability
Trade and other non-current payables
Non-current accounts payable to related parties
Other long-term provisions
Deferred tax liabilities
Non-current provisions for employee benefits
Other non-current non-financial liabilities
EQUITY
Equity attributable to shareholders of Enel Américas
Share and paid-in capital
Retained earnings (losses)
Issuance premiums
Other reserves
TOTAL LIABILITIES AND EQUITY
Distribution
Argentina
Brazil
12-31-2021
ThUS$
272,122
6,404
22,482
17,087
213,415
410
12,324
-
-
1,887,183
5
49
377
26
135
73,985
1,812,557
-
49
-
2,159,305
12-31-2020
ThUS$
274,170
8,016
23,383
29,464
199,667
364
13,276
-
-
1,442,359
6
60
460
32
133
50,067
1,391,477
-
124
-
1,716,529
12-31-2021
ThUS$
4,033,868
310,415
53,501
609,241
2,642,513
11,118
333,214
73,866
-
11,210,471
2,904,813
2,993,253
450,387
-
-
3,978,918
28,059
6,272
62,826
785,943
15,244,339
12.31.2020
ThUS$
3,356,268
557,280
128,089
374,088
1,954,523
8,480
272,167
61,641
-
10,141,977
2,497,727
2,259,476
267,871
-
-
4,174,705
32,860
7,942
42,236
859,160
13,498,245
Distribution
Argentina
Brasil
12-31-2021
ThUS$
902,066
-
14
797,949
42,444
43,269
-
18,390
558,266
-
24
53,914
40,821
19,063
405,082
13,197
26,165
698,973
698,973
652,952
(262,208)
-
308,229
2,159,305
12-31-2020
ThUS$
591,523
-
78
467,412
69,660
43,785
-
10,588
415,192
-
45
86,559
50,566
19,698
233,966
10,730
13,628
12-31-2021
ThUS$
4,474,546
463,072
17,378
2,538,667
1,249,196
75,926
-
130,307
7,273,663
1,608,594
49,844
2,623,702
958,052
676,518
4,684
1,311,655
40,614
12-31-2020
ThUS$
3,697,032
775,450
15,396
2,159,212
513,115
77,846
26,914
129,099
6,033,093
1,412,245
35,221
1,961,838
394,384
712,820
10,243
1,476,884
29,458
709,814
709,814
528,339
(67,928)
-
249,403
1,716,529
3,496,130
3,496,130
2,182,599
(758,693)
-
2,072,224
15,244,339
3,768,120
3,768,120
2,222,793
(882,158)
-
2,427,485
13,498,245
The Eliminations column corresponds to transactions between companies in different lines of business and country,
primarily purchases and sales of energy and services.
522
Integrated Annual Report Enel Américas 2021
Colombia
Peru
Eliminations
Total
12-31-2021
ThUS$
12-31-2021
ThUS$
12-31-2021
ThUS$
12-31-2021
12-31-2020
12-31-2020
12-31-2020
12-31-2020
ThUS$
Distribution
ThUS$
(49)
(48)
4,934,818
4,321,551
ThUS$
208,451
57,197
43
5,132
112,269
3,233
30,577
191,178
41,228
9,057
109,912
4,550
26,431
45
(94)
53
(101)
1,811,019
1,973,507
1,237,600
1,263,497
16,146,273
14,821,340
1,632,486
1,785,402
52,179
1,153,472
42,359
1,186,821
31,937
34,317
2,231,445
2,473,490
1,446,051
1,454,675
(49)
(48)
21,081,091
19,142,891
Colombia
12-31-2020
Peru
Distribution
12-31-2020
Eliminations
12-31-2020
12-31-2021
ThUS$
12-31-2021
ThUS$
12-31-2021
ThUS$
12-31-2021
Total
12-31-2020
ThUS$
ThUS$
(49)
(48)
6,242,563
(49)
(50)
ThUS$
420,426
92,356
1,684
9,295
247,884
15,407
53,280
-
520
6,599
19,717
16,252
13,613
100,569
-
-
17,944
3,839
ThUS$
550,502
220,389
3,281
264,665
15,602
10,715
16,094
19,756
887,339
794,478
15,578
231
-
-
-
67,673
793,604
793,604
3,314
248,707
46,819
494,764
499,983
141,721
274
18,191
260,485
6,396
72,916
-
-
2
-
-
24,651
29,541
1,463
103,745
17,503
11,200
640,775
190,925
2,999
338,490
32,604
11,080
40,226
24,451
840,051
708,607
15,124
372
-
-
96,591
2,820
992,664
992,664
3,941
346,671
55,685
586,367
9,379
16,537
-
-
-
-
-
-
-
-
-
-
249,069
53,750
11,280
116,577
35,692
8,356
2,239
21,175
471,377
397,449
28,492
729
-
459
38,188
4,299
1,761
734,229
734,229
147,019
520,910
-
66,300
12
-
-
-
-
-
-
-
-
ThUS$
315,498
69,837
16,122
166,340
35,669
5,008
6,591
15,931
435,640
379,487
16,786
591
-
415
33,976
3,031
1,354
694,913
694,913
133,152
501,709
-
60,052
ThUS$
466,372
77,710
640,755
3,216,126
30,074
429,395
73,866
520
2,911,429
3,013,019
467,016
26
13,748
4,205,651
4,626,574
6,272
112,756
789,782
ThUS$
753,298
36,795
3,767,621
1,342,862
134,918
22,685
184,384
9,154,908
2,782,559
82,232
2,678,438
998,873
705,375
443,742
1,395,556
68,133
5,683,620
5,683,620
2,972,017
(270,485)
46,819
2,935,269
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
748,245
151,746
430,800
2,524,640
19,689
384,790
61,641
-
2,497,735
2,284,187
297,872
32
1,596
4,370,876
4,396,560
7,942
94,180
870,360
5,178,351
1,020,125
29,753
3,081,693
651,021
141,067
69,379
185,313
7,759,713
2,518,301
78,882
2,049,498
444,950
749,514
282,397
1,588,504
47,667
6,204,827
6,204,827
2,902,092
(82,505)
55,685
3,329,555
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,231,445
2,473,490
1,446,051
1,454,675
(49)
(48)
21,081,091
19,142,891
NON-CURRENT ASSETS
1,887,183
1,442,359
b) Distribution
Line of business
Country
ASSETS
CURRENT ASSETS
Cash and cash equivalents
Other current financial assets
Other current non-financial assets
Trade and other current receivables
Current accounts receivable from related parties
Inventories
Current tax assets
distribution to owners
Non-current assets or disposal groups held-for-sale or held for
Other non-current financial assets
Other non-current non-financial assets
Trade and other non-current receivables
Non-current accounts receivable from related parties
Investments accounted for using the equity method
Intangible assets other than goodwill
Property, plant and equipment
Investment properties
Right-of-use asset
Deferred tax assets
TOTAL ASSETS
Line of business
Country
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Other current financial liabilities
Current lease liability
Trade and other current payables
Current accounts payable to related parties
Other current provisions
Current tax liabilities
Other current non-financial liabilities
NON-CURRENT LIABILITIES
Other non-current financial liabilities
Non-current lease liability
Trade and other non-current payables
Non-current accounts payable to related parties
Other long-term provisions
Deferred tax liabilities
Non-current provisions for employee benefits
Other non-current non-financial liabilities
EQUITY
Equity attributable to shareholders of Enel Américas
Share and paid-in capital
Retained earnings (losses)
Issuance premiums
Other reserves
TOTAL LIABILITIES AND EQUITY
Distribution
Brazil
Argentina
12-31-2020
12-31-2021
ThUS$
12-31-2021
12.31.2020
ThUS$
ThUS$
4,033,868
3,356,268
73,985
1,812,557
50,067
1,391,477
3,978,918
4,174,705
2,159,305
1,716,529
15,244,339
13,498,245
Distribution
Argentina
12-31-2021
ThUS$
12-31-2021
12-31-2020
Brasil
12-31-2020
ThUS$
591,523
4,474,546
3,697,032
2,642,513
1,954,523
310,415
53,501
609,241
11,118
333,214
73,866
-
11,210,471
2,904,813
2,993,253
450,387
-
-
28,059
6,272
62,826
785,943
ThUS$
463,072
17,378
2,538,667
1,249,196
75,926
-
130,307
7,273,663
1,608,594
49,844
2,623,702
958,052
676,518
4,684
557,280
128,089
374,088
8,480
272,167
61,641
-
10,141,977
2,497,727
2,259,476
267,871
-
-
32,860
7,942
42,236
859,160
775,450
15,396
2,159,212
513,115
77,846
26,914
129,099
6,033,093
1,412,245
35,221
1,961,838
394,384
712,820
10,243
ThUS$
272,122
6,404
22,482
17,087
213,415
410
12,324
-
-
5
49
377
26
135
49
-
-
ThUS$
902,066
-
14
797,949
42,444
43,269
-
18,390
-
24
53,914
40,821
19,063
405,082
13,197
26,165
698,973
698,973
652,952
(262,208)
-
308,229
2,159,305
274,170
8,016
23,383
29,464
199,667
364
13,276
-
-
6
60
460
32
133
124
-
-
-
78
467,412
69,660
43,785
-
10,588
-
45
86,559
50,566
19,698
233,966
10,730
13,628
709,814
709,814
528,339
(67,928)
-
558,266
415,192
1,311,655
1,476,884
40,614
29,458
3,496,130
3,496,130
2,182,599
(758,693)
-
3,768,120
3,768,120
2,222,793
(882,158)
-
249,403
2,072,224
2,427,485
1,716,529
15,244,339
13,498,245
The Eliminations column corresponds to transactions between companies in different lines of business and country,
primarily purchases and sales of energy and services.
Colombia
Peru
Eliminations
Total
Distribution
12-31-2021
ThUS$
420,426
92,356
1,684
9,295
247,884
15,407
53,280
-
520
1,811,019
6,599
19,717
16,252
-
13,613
100,569
1,632,486
-
17,944
3,839
2,231,445
12-31-2020
ThUS$
499,983
141,721
274
18,191
260,485
6,396
72,916
-
-
1,973,507
2
24,651
29,541
-
1,463
103,745
1,785,402
-
17,503
11,200
2,473,490
12-31-2021
ThUS$
208,451
57,197
43
5,132
112,269
3,233
30,577
-
-
1,237,600
12
-
-
-
-
52,179
1,153,472
-
31,937
-
1,446,051
Colombia
Peru
12-31-2021
ThUS$
550,502
220,389
3,281
264,665
15,602
10,715
16,094
19,756
887,339
794,478
15,578
231
-
9,379
-
67,673
-
793,604
793,604
3,314
248,707
46,819
494,764
2,231,445
12-31-2020
ThUS$
640,775
190,925
2,999
338,490
32,604
11,080
40,226
24,451
840,051
708,607
15,124
372
-
16,537
-
96,591
2,820
992,664
992,664
3,941
346,671
55,685
586,367
2,473,490
12-31-2021
ThUS$
315,498
69,837
16,122
166,340
35,669
5,008
6,591
15,931
435,640
379,487
16,786
591
-
415
33,976
3,031
1,354
694,913
694,913
133,152
501,709
-
60,052
1,446,051
12-31-2020
ThUS$
191,178
41,228
-
9,057
109,912
4,550
26,431
-
-
1,263,497
-
-
-
-
-
42,359
1,186,821
-
34,317
-
1,454,675
Distribution
12-31-2020
ThUS$
249,069
53,750
11,280
116,577
35,692
8,356
2,239
21,175
471,377
397,449
28,492
729
-
459
38,188
4,299
1,761
734,229
734,229
147,019
520,910
-
66,300
1,454,675
12-31-2021
ThUS$
(49)
-
-
-
45
(94)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(49)
12-31-2020
ThUS$
(48)
-
-
-
53
(101)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(48)
12-31-2021
ThUS$
4,934,818
466,372
77,710
640,755
3,216,126
30,074
429,395
73,866
520
16,146,273
2,911,429
3,013,019
467,016
26
13,748
4,205,651
4,626,574
6,272
112,756
789,782
21,081,091
Eliminations
Total
12-31-2021
ThUS$
(49)
-
-
-
(49)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(49)
12-31-2020
ThUS$
(48)
-
-
2
(50)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(48)
12-31-2021
ThUS$
6,242,563
753,298
36,795
3,767,621
1,342,862
134,918
22,685
184,384
9,154,908
2,782,559
82,232
2,678,438
998,873
705,375
443,742
1,395,556
68,133
5,683,620
5,683,620
2,972,017
(270,485)
46,819
2,935,269
21,081,091
12-31-2020
ThUS$
4,321,551
748,245
151,746
430,800
2,524,640
19,689
384,790
61,641
-
14,821,340
2,497,735
2,284,187
297,872
32
1,596
4,370,876
4,396,560
7,942
94,180
870,360
19,142,891
12-31-2020
ThUS$
5,178,351
1,020,125
29,753
3,081,693
651,021
141,067
69,379
185,313
7,759,713
2,518,301
78,882
2,049,498
444,950
749,514
282,397
1,588,504
47,667
6,204,827
6,204,827
2,902,092
(82,505)
55,685
3,329,555
19,142,891
Consolidated Financial Statements 523
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Line of business
Country
STATEMENTS OF PROIT (LOSS)
REVENUE AND OTHER OPERATING INCOME
Revenues
Energy sales
Other sales
Other services rendered
Other income
12-31-
2021
ThUS$
793,771
779,524
737,859
2,689
38,976
14,247
Argentina
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Brazil
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Colombia
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Eliminations
Total
12-31-
2020
ThUS$
12-31-
2019
ThUS$
801,228
1,346,888
8,761,513
6,834,057
8,227,064
1,706,530
1,546,964
1,665,317
895,367
886,663
950,349
(32)
(27)
(24)
12,157,149
10,068,885
12,189,594
772,583
1,066,437
7,291,539
5,855,047
7,246,928
737,983
1,021,696
6,522,617
5,168,342
6,441,861
1,695
32,905
28,645
2,771
41,970
-
768,922
280,451
1,469,974
698
686,007
979,010
3,755
801,312
980,136
1,685,480
1,529,090
1,646,864
859,847
760,540
850,524
1,906
823,727
21,050
2,011
2,257
766,539
794,083
17,874
18,453
890,752
841,017
1,134
48,601
4,615
945,595
903,828
1,022
40,745
4,754
Peru
12-31-
2020
ThUS$
882,564
844,342
817
37,405
4,099
RAW MATERIALS AND CONSUMABLES USED
(528,448)
(530,338)
(773,693)
(6,573,470)
(4,937,646)
(5,820,384)
(1,011,914)
(886,155)
(962,174)
(604,987)
(599,116)
(619,181)
Energy purchases
Fuel consumption
Transportation expenses
Other miscellaneous supplies and services
CONTRIBUTION MARGIN
(490,205)
(489,984)
(714,844)
(4,722,860)
(3,451,265)
(4,310,694)
(749,941)
(646,721)
(717,608)
(561,256)
(561,076)
(580,690)
-
-
-
16
-
-
(14,438)
(23,805)
(17,806)
(22,548)
(16,990)
(593,753)
(658,797)
(720,945)
(41,859)
(1,256,873)
(827,584)
(788,745)
-
-
-
(174,438)
(162,393)
(165,554)
-
-
-
-
-
-
(87,535)
(77,041)
(79,012)
(43,731)
(38,040)
(38,491)
265,323
270,890
573,195
2,188,043
1,896,411
2,406,680
694,616
660,809
703,143
290,380
287,547
331,168
(32)
(27)
(24)
3,438,330
3,115,630
4,014,162
(32)
(27)
(24)
1,509,854
1,029,601
1,283,770
10,647,295
9,039,284
10,905,824
8,961,340
7,511,207
9,217,909
5,729
5,221
9,805
1,680,226
1,522,856
1,678,110
(8,718,819)
(6,953,255)
(8,175,432)
(6,524,262)
(5,149,046)
(6,323,836)
16
-
-
(782,629)
(838,996)
(903,489)
(1,411,944)
(965,213)
(948,107)
Other work performed by the entity and capitalized
47,471
30,921
43,311
103,072
76,469
89,154
Employee benefits expense
Other expenses
(154,220)
(135,942)
(123,792)
(128,108)
(162,137)
(147,303)
(302,308)
(556,744)
(207,724)
(401,264)
(579,070)
(638,654)
28,747
(66,732)
26,439
(76,778)
29,171
(71,028)
(102,054)
(103,675)
(104,774)
13,103
(35,861)
(48,628)
9,317
9,843
(33,923)
(49,043)
(36,596)
(46,943)
-
-
32
-
-
27
192,393
143,146
171,479
(559,121)
(442,217)
(671,025)
24
(843,336)
(859,869)
(937,650)
GROSS OPERATING RESULT
22,632
49,911
307,066
1,432,063
1,186,086
1,455,916
554,577
506,795
556,512
218,994
213,898
257,472
-
2,228,266
1,956,690
2,576,966
Depreciation and amortization expense
Gains (losses) for impairment in accordance with IFRS 9
(82,711)
(8,551)
(73,850)
(44,338)
(53,534)
(42,501)
(370,763)
(366,439)
(307,815)
(167,035)
(451,835)
(225,053)
(123,631)
(115,540)
(121,669)
(12,807)
(16,127)
(7,272)
(58,446)
(6,383)
(58,395)
(14,040)
(56,630)
(4,408)
(635,551)
(614,224)
(683,668)
(335,556)
(241,540)
(279,234)
OPERATING INCOME
FINANCIAL RESULT
Financial income
Cash and cash equivalents
Other financial income
Financial costs
Bank borrowings
Secured and unsecured obligations
Other
Income from indexation units
Foreign exchange profits (losses)
Positive
Negative
(68,630)
(68,277)
211,031
753,485
652,612
779,028
418,139
375,128
431,004
154,165
141,463
196,434
1,257,159
1,100,926
1,617,497
28,590
19,930
12,274
7,656
22,606
10,657
4,422
6,235
54,470
(369,355)
(267,371)
(308,117)
22,964
164,114
100,950
179,304
1,908
21,056
5,167
158,947
5,954
94,996
19,928
159,376
(262,785)
(148,619)
(168,782)
(531,140)
(366,558)
(484,231)
(61,476)
(56,225)
(64,047)
(22,340)
(26,894)
(28,342)
(405)
-
(379)
(1)
(3,957)
-
(72,414)
(77,476)
(44,964)
(54,629)
(262,380)
(148,239)
(164,825)
(381,250)
(266,965)
(78,675)
(110,355)
(295,201)
279,374
161,586
206,845
-
-
-
(7,929)
(705)
(7,224)
(1,018)
1,777
(2,795)
(6,557)
(2,329)
(1,763)
(3,190)
86
323,815
173,425
126,129
(6,643)
(326,144)
(175,188)
(129,319)
Share of profit (loss) of associates and joint ventures accounted for using the
equity method
Other gains (losses)
Gain (loss) from other investments
Gain (loss) from the sale of assets
32
28
-
-
-
7
-
7
20
39
-
39
-
-
-
519
543
(24)
870
-
870
2,143
-
2,143
Profit (loss) before taxes
(40,008)
(45,636)
265,560
384,649
386,111
473,054
364,127
325,978
372,680
132,586
116,426
184,150
-
841,368
782,879
1,295,444
Income tax expense (income)
(138,481)
(22,866)
(76,548)
(102,921)
(118,872)
414,913
(107,270)
(97,881)
(122,066)
(47,413)
(38,488)
(55,649)
-
(396,085)
(278,107)
160,650
Profit (loss) from continuing operations
PROFIT (LOSS)
(178,489)
(178,489)
(68,502)
(68,502)
189,012
189,012
281,728
281,728
267,239
267,239
887,967
887,967
256,857
256,857
228,097
228,097
250,614
250,614
85,173
85,173
77,938
77,938
128,501
128,501
-
-
445,283
504,772
1,456,094
445,283
504,772
1,456,094
Line of Business
STATEMENT OF CASH FLOWS
12-31-
2021
ThUS$
Argentina
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Brazil
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Colombia
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Peru
12-31-
2020
ThUS$
Eliminations
12-31-
2019
ThUS$
12-31-
2021
ThUS$
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Total
12-31-
2020
ThUS$
12-31-
2019
ThUS$
Net cash flows from (used in) operating activities
Net cash flows from (used in) investing activities
Net cash flows from (used in) financing activities
266,871
159,556
116,487
(53,565)
797,144
877,694
421,301
391,312
357,362
221,034
100,855
251,699
(187,632)
(76,665)
(115,347)
(184,578)
(1,043,563)
(740,848)
(818,838)
(326,150)
(381,939)
(303,833)
(153,866)
(126,493)
(163,888)
(54,133)
75,332
878,164
56,395
84,704
(125,249)
22,061
(158,135)
(48,896)
16,185
(66,594)
-
-
-
855,641
1,448,867
1,603,242
(1,711,211)
(1,364,627)
(1,471,137)
627,354
40,508
(64,693)
The Eliminations column corresponds to transactions between companies in different lines of business and country,
primarily purchases and sales of energy and services.
(49,171)
(58,397)
(21,605)
(25,042)
(22,938)
14
(54,585)
10,984
1,993
8,991
(9,528)
(40,559)
(11,389)
-
(4,093)
4,218
(8,311)
-
573
-
573
8,571
3,894
4,677
(8,732)
(35,496)
(11,997)
-
(1,517)
5,834
(7,351)
-
21
-
21
5,668
3,859
1,809
(8,375)
(40,051)
(15,621)
-
(18)
8,389
(8,407)
-
73
6
67
4,373
229
4,144
(4,228)
(18,972)
860
-
(3,638)
9,328
(12,966)
-
26
-
26
3,771
417
3,354
(2,601)
(23,379)
(914)
-
(1,919)
3,726
(5,645)
-
5
-
5
4,439
677
3,762
(1,204)
(25,090)
(2,048)
-
965
2,217
(1,252)
-
-
10,654
10,654
(416,941)
(318,978)
(334,982)
199,401
123,949
212,375
19,663
179,738
14,687
26,372
109,262
186,003
(877,741)
(598,296)
(745,402)
(86,575)
(137,007)
(56,676)
(92,211)
(113,505)
(175,496)
(654,159)
(428,115)
(477,695)
279,374
161,586
206,845
(17,975)
(6,217)
(8,800)
336,661
184,760
136,819
(354,636)
(190,977)
(145,619)
32
1,118
543
575
28
903
-
903
20
12,909
6
12,903
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(2)
2
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
14
5
9
-
-
-
-
14
-
14
14
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(2)
2
-
-
-
-
-
-
-
-
-
-
-
524
Integrated Annual Report Enel Américas 2021
Line of business
Country
STATEMENTS OF PROIT (LOSS)
Revenues
Energy sales
Other sales
Other services rendered
Other income
Energy purchases
Fuel consumption
Transportation expenses
Other miscellaneous supplies and services
CONTRIBUTION MARGIN
OPERATING INCOME
FINANCIAL RESULT
Financial income
Cash and cash equivalents
Other financial income
Financial costs
Bank borrowings
Secured and unsecured obligations
Income from indexation units
Foreign exchange profits (losses)
Other
Positive
Negative
equity method
Other gains (losses)
Gain (loss) from other investments
Gain (loss) from the sale of assets
54,470
(369,355)
(267,371)
(308,117)
22,964
164,114
100,950
179,304
5,167
158,947
5,954
94,996
19,928
159,376
28,590
19,930
12,274
7,656
(405)
-
(7,929)
(705)
(7,224)
22,606
10,657
4,422
6,235
(379)
(1)
(1,018)
1,777
(2,795)
(262,380)
(148,239)
(164,825)
(381,250)
(266,965)
279,374
161,586
206,845
-
-
-
(72,414)
(77,476)
(44,964)
(54,629)
(78,675)
(110,355)
(295,201)
(6,557)
(2,329)
(1,763)
(3,190)
86
323,815
173,425
126,129
(6,643)
(326,144)
(175,188)
(129,319)
-
-
-
7
-
7
519
543
(24)
870
-
870
-
-
2,143
2,143
1,908
21,056
(3,957)
-
20
39
-
39
Share of profit (loss) of associates and joint ventures accounted for using the
32
28
-
-
Argentina
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Brazil
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Colombia
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Peru
12-31-
2020
ThUS$
Eliminations
12-31-
2019
ThUS$
12-31-
2021
ThUS$
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Total
12-31-
2020
ThUS$
12-31-
2019
ThUS$
REVENUE AND OTHER OPERATING INCOME
801,228
1,346,888
8,761,513
6,834,057
8,227,064
1,706,530
1,546,964
1,665,317
895,367
886,663
950,349
(32)
(27)
(24)
12,157,149
10,068,885
12,189,594
772,583
1,066,437
7,291,539
5,855,047
7,246,928
737,983
1,021,696
6,522,617
5,168,342
6,441,861
1,695
32,905
28,645
2,771
41,970
-
768,922
280,451
1,469,974
698
686,007
979,010
3,755
801,312
980,136
1,685,480
1,529,090
1,646,864
859,847
760,540
850,524
1,906
823,727
21,050
2,011
2,257
766,539
794,083
17,874
18,453
890,752
841,017
1,134
48,601
4,615
882,564
844,342
817
37,405
4,099
945,595
903,828
1,022
40,745
4,754
-
-
-
-
-
-
-
-
-
-
-
-
10,647,295
9,039,284
10,905,824
8,961,340
7,511,207
9,217,909
5,729
5,221
9,805
1,680,226
1,522,856
1,678,110
(32)
(27)
(24)
1,509,854
1,029,601
1,283,770
RAW MATERIALS AND CONSUMABLES USED
(528,448)
(530,338)
(773,693)
(6,573,470)
(4,937,646)
(5,820,384)
(1,011,914)
(886,155)
(962,174)
(604,987)
(599,116)
(619,181)
(490,205)
(489,984)
(714,844)
(4,722,860)
(3,451,265)
(4,310,694)
(749,941)
(646,721)
(717,608)
(561,256)
(561,076)
(580,690)
-
-
-
16
-
-
(14,438)
(23,805)
(17,806)
(22,548)
(16,990)
(593,753)
(658,797)
(720,945)
(41,859)
(1,256,873)
(827,584)
(788,745)
-
-
-
(174,438)
(162,393)
(165,554)
-
-
-
-
-
-
(87,535)
(77,041)
(79,012)
(43,731)
(38,040)
(38,491)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(8,718,819)
(6,953,255)
(8,175,432)
(6,524,262)
(5,149,046)
(6,323,836)
16
-
-
(782,629)
(838,996)
(903,489)
(1,411,944)
(965,213)
(948,107)
265,323
270,890
573,195
2,188,043
1,896,411
2,406,680
694,616
660,809
703,143
290,380
287,547
331,168
(32)
(27)
(24)
3,438,330
3,115,630
4,014,162
12-31-
2021
ThUS$
793,771
779,524
737,859
2,689
38,976
14,247
Other work performed by the entity and capitalized
47,471
30,921
43,311
103,072
76,469
89,154
Employee benefits expense
Other expenses
(154,220)
(135,942)
(123,792)
(128,108)
(162,137)
(147,303)
(302,308)
(556,744)
(207,724)
(401,264)
(579,070)
(638,654)
28,747
(66,732)
26,439
(76,778)
29,171
(71,028)
(102,054)
(103,675)
(104,774)
13,103
(35,861)
(48,628)
9,317
9,843
(33,923)
(49,043)
(36,596)
(46,943)
GROSS OPERATING RESULT
22,632
49,911
307,066
1,432,063
1,186,086
1,455,916
554,577
506,795
556,512
218,994
213,898
257,472
Depreciation and amortization expense
Gains (losses) for impairment in accordance with IFRS 9
(82,711)
(8,551)
(73,850)
(44,338)
(53,534)
(42,501)
(370,763)
(366,439)
(307,815)
(167,035)
(451,835)
(225,053)
(123,631)
(115,540)
(121,669)
(12,807)
(16,127)
(7,272)
(58,446)
(6,383)
(58,395)
(14,040)
(56,630)
(4,408)
(68,630)
(68,277)
211,031
753,485
652,612
779,028
418,139
375,128
431,004
154,165
141,463
196,434
-
-
32
-
-
-
-
(54,585)
10,984
1,993
8,991
(49,171)
(58,397)
(21,605)
(25,042)
(22,938)
14
8,571
3,894
4,677
5,668
3,859
1,809
4,373
229
4,144
3,771
417
3,354
4,439
677
3,762
(262,785)
(148,619)
(168,782)
(531,140)
(366,558)
(484,231)
(61,476)
(56,225)
(64,047)
(22,340)
(26,894)
(28,342)
(9,528)
(40,559)
(11,389)
-
(4,093)
4,218
(8,311)
-
573
-
573
(8,732)
(35,496)
(11,997)
-
(1,517)
5,834
(7,351)
-
21
-
21
(8,375)
(40,051)
(15,621)
-
(18)
8,389
(8,407)
-
73
6
67
(4,228)
(18,972)
860
-
(3,638)
9,328
(12,966)
-
26
-
26
(2,601)
(23,379)
(914)
-
(1,919)
3,726
(5,645)
-
5
-
5
(1,204)
(25,090)
(2,048)
-
965
2,217
(1,252)
-
10,654
-
10,654
Profit (loss) before taxes
(40,008)
(45,636)
265,560
384,649
386,111
473,054
364,127
325,978
372,680
132,586
116,426
184,150
Income tax expense (income)
(138,481)
(22,866)
(76,548)
(102,921)
(118,872)
414,913
(107,270)
(97,881)
(122,066)
(47,413)
(38,488)
(55,649)
Profit (loss) from continuing operations
PROFIT (LOSS)
(178,489)
(178,489)
(68,502)
(68,502)
189,012
189,012
281,728
281,728
267,239
267,239
887,967
887,967
256,857
256,857
228,097
228,097
250,614
250,614
85,173
85,173
77,938
77,938
128,501
128,501
-
-
27
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(2)
2
-
-
-
-
-
-
-
-
-
-
192,393
143,146
171,479
(559,121)
(442,217)
(671,025)
24
(843,336)
(859,869)
(937,650)
-
2,228,266
1,956,690
2,576,966
-
-
-
-
-
-
-
-
-
-
-
-
-
(2)
2
-
-
-
-
(635,551)
(614,224)
(683,668)
(335,556)
(241,540)
(279,234)
1,257,159
1,100,926
1,617,497
(416,941)
(318,978)
(334,982)
199,401
123,949
212,375
19,663
179,738
14,687
26,372
109,262
186,003
(877,741)
(598,296)
(745,402)
(86,575)
(137,007)
(56,676)
(92,211)
(113,505)
(175,496)
(654,159)
(428,115)
(477,695)
279,374
161,586
206,845
(17,975)
(6,217)
(8,800)
336,661
184,760
136,819
(354,636)
(190,977)
(145,619)
32
1,118
543
575
28
903
-
903
20
12,909
6
12,903
-
841,368
782,879
1,295,444
-
(396,085)
(278,107)
160,650
-
-
445,283
504,772
1,456,094
445,283
504,772
1,456,094
-
-
-
-
-
-
-
-
14
5
9
-
-
-
-
14
-
14
14
Line of Business
STATEMENT OF CASH FLOWS
Argentina
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Brazil
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Colombia
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Peru
12-31-
2020
ThUS$
Eliminations
12-31-
2019
ThUS$
12-31-
2021
ThUS$
12-31-
2020
ThUS$
12-31-
2019
ThUS$
12-31-
2021
ThUS$
Total
12-31-
2020
ThUS$
12-31-
2019
ThUS$
Net cash flows from (used in) operating activities
Net cash flows from (used in) investing activities
Net cash flows from (used in) financing activities
266,871
159,556
116,487
(53,565)
797,144
877,694
421,301
391,312
357,362
221,034
100,855
251,699
(115,347)
(184,578)
(1,043,563)
(740,848)
(818,838)
(326,150)
(381,939)
(303,833)
(153,866)
(126,493)
(163,888)
(54,133)
75,332
878,164
56,395
84,704
(125,249)
22,061
(158,135)
(48,896)
16,185
(66,594)
-
-
-
-
-
-
-
-
-
855,641
1,448,867
1,603,242
(1,711,211)
(1,364,627)
(1,471,137)
627,354
40,508
(64,693)
12-31-
2021
ThUS$
(187,632)
(76,665)
The Eliminations column corresponds to transactions between companies in different lines of business and country,
primarily purchases and sales of energy and services.
Consolidated Financial Statements 525
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NOTE 34. Guarantees with third parties, contingent assets
and, liabilities, and other commitments
34.1 Direct guarantees
Debtor
Assets Committed
Type
Currency
Outstanding balance as of
Company
Relationship
Type of
Guarantee
Creditor
Pledge
Combined cycle US$
Creditor of
Guarantee
Mitsubishi
Corporation
BNDES
Enel Generación
Costanera S.A.
Enel Distribución
Rio S.A.
Creditor
Collections
US$
4,603
Carrying
Amount
30,341
Currency
12.31.2021
12.31.2020
US$
US$
41,953
46,802
2,099
3,845
Miscellaneous
creditors
Enel Distribución
Ceará S.A.
Creditor
Banco
Bradesco
Enel Distribución
Goiás S.A.
Creditor
Collections
US$
11,823
US$
59,626
74,198
Collections
US$
19,316
US$
26,096
43,802
Pledge on
collection
and others
Pledge on
collection
and others
Pledge on
collection
and others
Miscellaneous
creditors
Enel Distribuicao
Sao Paulo S.A.
Creditor
Various
Down Payment
US$
-
Miscellaneous
creditors
EGP Brasil
Creditor
Various
Escrow Account US$
501,277
Creditor
Mortgage
Fixed Assets
US$
20,065
Creditor
Mortgage
Fixed Assets
US$
32,713
Creditor
Mortgage
Fixed Assets
US$
2,198
Miscellaneous
creditors
Enel Generación
Piura S.A.
Miscellaneous
creditors
Enel Distribución
Peru S.A.
Enel Generación
Peru S.A.
Banco
Continental
SA
Total
US$
US$
US$
US$
US$
-
816,798
321,352
-
8,638
16,933
16,520
24,065
2,221
7,129
622,336
478,505
1,033,574
As of December 31, 2021 and 2020, the carrying amount of property, plant and equipment pledged as security for liabilities
amounted to ThUS$ 85,317 and ThUS$ 104,577, respectively (see Note 16.c.ii).
As of December 31, 2021 and 2020, the Company had future energy purchase commitments amounting to ThUS$ 68,628,702
and ThUS$ 71,322,737, respectively
526
Integrated Annual Report Enel Américas 2021
34.2 Indirect guarantees
Type
Joint &
Several
Contract Name
Ending Date
Bono H
October 2028
Creditor of
Guarantee
Bondholders Enel
Generación Chile
Bonds Program
(formerly Endesa
Chile)
Joint &
Several
Bono M
December 2029 Bondholders Enel
Generación Chile
Bonds Program
(formerly Endesa
Chile)
Enel
Generación Chile
Debtor
Outstanding balance as of
Company
Relationship
Type of Guarantee Currency
12-31-2021
12-31-2020
Enel
Generación Chile
Joint co-debtor
US$
55,893
70,897
Joint co-debtor
US$
267,394
335,240
Divided companies
of the original debtor,
Endesa Chile (joint
debtor Endesa Américas
and post-merger Enel
Américas) *
Divided companies
of the original debtor,
Endesa Chile (joint
debtor Endesa Américas
and post-merger Enel
Américas) *
Bank Loan
BNP PARIBAS 4131
February 2022
BNP PARIBAS
Bank Loan
BNP PARIBAS 4131 II
December 2022 BNP PARIBAS
Bank Loan CITIBANK 4131 II
March 2021
CITIBANK
Bank Loan
ITAÚ 4131
July 2021
ITAÚ
Bank Loan
SCOTIABANK 4131 III
February 2025
SCOTIABANK
Bank Loan
SCOTIABANK 4131 IV February 2025
SCOTIABANK
Bank Loan
BNDES FINAME GIRO May 2023
BNDES
Bank Loan
SCOTIABANK 4131
CELG
August 2022
SCOTIABANK
Bank Loan
BNP PARIBAS 4131 II March 2021
Bonds
Bonds
DEBÊNTURES - 23ª
EMISSÃO – 1st series
September
2021
DEBÊNTURES - 23ª
EMISSÃO – 2nd
series
September
2023
BNP PARIBAS-
CREDIT AGREEMENT
DEBENTURES
DEBENTURES
Bank Loan
SCOTIABANK 4131
April 2023
SCOTIABANK
Enel
Distribución Río
Enel
Distribución Río
Enel
Distribución Río
Enel
Distribución Río
Enel
Distribución Río
Enel Distribución
Río
Enel Distribución
Goiás S.A.
Enel Distribución
Goiás S.A.
Enel Distribución
Goias
(former-CELG)
Enel Distribución
Sao Paulo
Enel Distribución
Sao Paulo
EGP Cachoeira
Dourada
Enel Brasil
Guarantor
Enel Brasil
Guarantor
Enel Brasil
Guarantor
Enel Brasil
Guarantor
Enel Brasil
Guarantor
Enel Brasil
Guarantor
Enel Brasil
Guarantor
Enel Brasil
Guarantor
Enel Brasil
Guarantor
Enel Brasil
Guarantor
Enel Brasil
Guarantor
Enel Brasil
Guarantor
Bank Loan
BNDES BOA VISTA
B1, B2 e B3
December 2034 BNDES
EGP BOA VISTA
EGP BRASIL
Guarantor
Bank Loan
SAN 4131 EGP- 1
August 2033
Bank Loan CHINA 4131 EGP- 1
August 2033
Bank Loan
SAN 4131 EGP- 2
August 2033
Bank Loan CHINA 4131 EGP- 2
August 2033
BANCO SANTANDER
(BRASIL) S.A.
BANK OF CHINA LTD
- MILAN BRANCH
BANCO SANTANDER
(BRASIL) S.A.
BANK OF CHINA LTD
- MILAN BRANCH
Bank Loan
Bank Loan
Bank Loan
Bank Loan
BNDES DELFINA B
A1, A2 e A3
BNDES DELFINA C
B1, B2 e B3
BNDES DELFINA D
A1, A2, A3, C1 e C2
BNDES DELFINA E
A1, A2, A3, D1 e D2
September
2034
September
2034
September
2034
September
2034
BNDES
BNDES
BNDES
BNDES
EGP Brasil
Enel SPA
Guarantor
EGP Brasil
Enel SPA
Guarantor
EGP Brasil
Enel SPA
Guarantor
EGP Brasil
Enel SPA
Guarantor
EGP DELFINA B
EGP BRASIL
Guarantor
EGP DELFINA C
EGP BRASIL
Guarantor
EGP DELFINA D
EGP BRASIL
Guarantor
EGP DELFINA E
EGP BRASIL
Guarantor
Bank Loan CHINA 4131
ITUVERAVA N
Bank Loan
Bank Loan
SAN 4131 ITUVERAVA
N
PROPARCO 4131
ITUVERAVA N
Bank Loan CHINA 4131
ITUVERAVA N
Bank Loan
Bank Loan
SAN 4131 ITUVERAVA
N
PROPARCO 4131
ITUVERAVA N
Bank Loan CHINA 4131
ITUVERAVA N
Bank Loan
Bank Loan
Bank Loan
SAN 4131 ITUVERAVA
N
PROPARCO 4131
ITUVERAVA N
BNDES SÂO ABRAÂO
A1, A2 e A3
December 2031 BANK OF CHINA
December 2031 BANCO SANTANDER
BRASIL
December 2031 PROPARCO
December 2031 BANK OF CHINA
December 2031 BANCO SANTANDER
BRASIL
June 2032
PROPARCO
EGP ITUVERAVA
NORTE
EGP ITUVERAVA
NORTE
EGP ITUVERAVA
NORTE
EGP ITUVERAVA
SUL
EGP ITUVERAVA
SUL
EGP ITUVERAVA
SUL
ENEL SPA
Guarantor
ENEL SPA
Guarantor
ENEL SPA
Guarantor
ENEL SPA
Guarantor
ENEL SPA
Guarantor
ENEL SPA
Guarantor
December 2031 BANK OF CHINA
EGP ITUVERAVA
ENEL SPA
Guarantor
December 2031 BANCO SANTANDER
EGP ITUVERAVA
ENEL SPA
Guarantor
BRASIL
June 2032
PROPARCO
EGP ITUVERAVA
ENEL SPA
Guarantor
December 2034 BNDES
Bank Loan
BEI 1 PERGEIBPTMO1 December 2032 European
Bank Loan
BEI 1 PERGEIBPTMO2 July 2033
Investment Bank
European
Investment Bank
EGP SAO
ABRAAO
EGP Perú
EGP BRASIL
Guarantor
Enel SPA
Guarantor
EGP Perú
Enel SPA
Guarantor
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
US$
74,137
79,612
39,458
39,230
-
-
37,115
22,249
96,461
77,194
-
-
9,927
18,170
49,336
48,870
33,108
136,305
-
-
256,055
270,297
31,363
13,344
51,014
53,096
45,631
47,493
13,865
3,247
13,888
13,954
12,448
11,960
26,951
18,673
17,941
40,427
12,448
11,960
26,951
13,377
88,970
48,469
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(*) Upon the demerger of the original issuer into Endesa Chile (currently Enel Generación Chile S.A.) and Endesa Américas, and in accordance with
the bond indenture, all entities arising from the demerger are liable for the debt, regardless that the payment obligation remains in Enel Generación
Chile S.A. After the merger carried out in 2016, the Company became liable for the obligations of Endesa Américas.
Total
1,429,034
1,205,384
Consolidated Financial Statements 527
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34.3 Litigation and Arbitration Proceedings
As of the date of these consolidated financial statements, the most relevant litigation and arbitration proceedings of Enel
Américas and its subsidiaries are the following:
a) Enel Américas´pending lawsuits:
The Chilean Tax Authority (SII) carried out a regular audit for the 2012 business year (Tax Year 2013). On September 4, 2015,
it provided notice of a tax assessment for the additional tax due, based on article 74 of the Income Tax Act, justifying its
position on the ground that a modification of the Taxable Profits Fund (Fondo Utilidad Tributaria or FUT) allegedly entailed a
modification of the base for the additional tax. The company responded that the SII had accepted the income rectification
and the income tax return it had filed, thereby accepting the declared tax amounts. On December 23, 2015, Enel Américas
(formerly named Enersis S.A.) filed a tax claim before the Tax and Customs Courts (TTA), claiming that the tax obligation had
been fully complied with, since the additional tax had been paid provisionally on a monthly basis, and the tax obligation had
been fully settled and resolved when the income rectification was made on May 8, 2014, which included the rectification of
the FUT amount. Following an unfavorable ruling by the TTA and several appeals, on August 3, 2021, the Supreme Court (the
court of first instance) rendered an unfavorable ruling was rendered against Enel Américas. On August 5, 2021, a letter of
notification of the judgment was sent. On August 20, 2021, Enel Américas filed an appeal. On September 8, 2021 the Supreme
Court admitted the appeal for processing. On September 30, 2021, Enel Américas became a party to the appeal before the
Court of Appeals and requested the suspension of the tax collection. On November 23, 2021, the suspension of the tax
collection was granted for the maximum legal term of 6 months. As of December 31, 2021, the amount involved in the lawsuit
was ThCh$5,023,208 (ThUS$ 5,898).
b) Subsidiaries´pending lawsuits
Argentina
Edesur S.A.
1. On February 14, 2019, Edesur S.A. filed an administrative claim against the Argentine National Government for damages derived
from the non-compliance of the works related to the "Renewal and Repowering Plan for Conventional Lines and Extension of
Public Lighting" (Plan Más Cerca Eléctrico) that should have been paid by the Federal Authority and implemented by the local
jurisdictions in which Edesur S.A. provides services. The financing of such partially performed and/or non-performed works
implied a tariff revenue replacement prior to the entry into force of the Comprehensive Tariff Review on February 1, 2017. The
damages are related to the costs of the execution of the works and the claim against the penalties for poor service quality
that Edesur S.A. had to face in the areas where the aforementioned electric infrastructure plan was not properly carried out.
The claim continues to be analyzed by the Administration. To date, no ruling has been issued by the National Government on
the merits of the claim. As of December 31, 2021, the amount involved in the lawsuit was ThARS$3,100,000 (ThUS$30,189).
Brazil:
Enel Distribución Ceará (Companhia Energética do Ceará S.A. or “Coelce”)
2. The Public Prosecutor’s Office filed a public civil action against Enel Distribución Ceará, Enel Generación Fortaleza and the
Brazilian Electricity Regulatory Agency (ANEEL) alleging that a) the electric power purchase agreement (PPA) signed between
Enel Distribución Ceará and Enel Generación Fortaleza (companies of the same economic group) was illegal, the price of the
contracted energy being very high, with excessive costs in the final consumers’ tariff and b) the tariff review conducted by
ANEEL since 2002 was wrong, since it took into consideration inaccurate data in the process. The Public Prosecutor’s Office is
seeking the exclusion of these components from the tariff and the return of the sums unduly collected by the concessionaire.
The PPA’s legality was confirmed at the judicial courts of first and second instances, but the tariff review process (item b) was
held to be erroneous at these rulings. On December 8, 2020, a special appeal filed by Enel Distribución Ceará, was summarily
dismissed. Enel Distribución Ceará filed motions for clarification of the decision, and to date they remain pending. The amount
involved in this lawsuit cannot be estimated.
3. The Public Prosecutor’s Office for Labor Matters filed a public civil action against Enel Distribución Ceará in the Brazilian
Superior Labor Court alleging that the company was hiring third parties for the provision of final services (“outsourcing”), which
was contrary to Brazilian law (Ruling 331 of the Brazilian Superior Labor Court), which allegedly only allows the provision of non-
essential services by third parties. The Superior Labor Court issued a ruling declaring the outsourcing illegal. An appeal filed by
Enel Distribución Ceará is currently pending before the Collective Bargaining Section (the reviewing section of the Superior
528
Integrated Annual Report Enel Américas 2021
Labor Court). Enel Distribución Ceará submitted a complaint to the Federal Supreme Court due to procedural irregularities
(under the plenary reservation clause of the Federal Constitution), which was accepted by the court. The Federal Supreme
Court has vacated the ruling of the Superior Labor Court that prohibited the outsourcing of activities by Enel Distribución
Ceará), and the lawsuit will return to the Superior Labor Court for the trial of Enel Distribución Ceará’s appeal. The amount
involved in this lawsuit cannot be estimated.
4. Several rural electricity cooperatives have filed lawsuits to review the lease fee for the energy supply network in the rural
area of the State of Ceará allegedly owned by them. Although Enel Distribución Ceará regularly pays the network lease fee to
13 rural electricity companies, a discussion on the ownership of these assets is pending decision, since they allegedly have
already been directly replaced by Enel Distribución Ceará throughout the more than 30 years of these lease contracts.
• Cooperativa de Eletrificação Rural do Vale do Acaraú (COPERVA) versus Enel Distribución Ceará (collection action): There is
no preliminary injunction and there is still no first instance decision from the Ceará state court; and
• Cooperativa de Eletrificação Rural do Vale do Acaraú (COPERVA) versus Enel Distribución Ceará (action to review the sums
charged by Enel Distribución Ceará): The Court of Justice (court of second instance) ruled in favor of Enel Distribución
Ceará, rejecting the request for lease review, and a special appeal was filed by COPERVA and is currently pending before the
Superior Court of Justice (court of third instance). On November 5, 2018, the Superior Court of Justice rendered a single-
judge decision on a special appeal filed by COPERVA and vacated the ruling on the clarification attachments requested. In
summary, the ruling judge held that the decision by the Court of Justice failed to provide satisfactory clarification on the
facts claimed in COPERVA’s clarification attachment petitions and declared a retrial to hear this appeal. Enel Distribución
Ceará filed an appeal against this decision on December 3, 2018 with the Superior Court of Justice requesting that an en-
banc decision be rendered (since the ruling had been issued by a single judge), which is pending. As of December 31, 2021
the amount involved in the two COPERVA lawsuits was ThBRL 374,370 (ThUS$ 67,211).
• Cooperativa de Energia, Telefonia e Desenvolvimento Rural (COERCE) versus Enel Distribución Ceará: There is no preliminary
injunction and there is still no first instance decision from the Ceará state court. As of December 31, 2021, the amount
involved in this lawsuit was ThBRL 224,580 (ThUS$ 40,319).
• Cooperativa de Energia, Telefonia e Desenvolvimento Rural (COPERCA) versus Enel Distribución Ceará: On June 13, 2019, the
judge in the Ceará state court issued a decision ordering the transfer of the claim to the federal courts, considering Brazilian
Electricity Regulatory Agency’s (ANEEL) interest in the claim, which transfer occurred on November 28, 2019. On April 24,
2020, the federal court judge issued a decision excluding ANEEL, as it would not be an interested party in the lawsuit and
the lawsuit returned to the Ceará state court on June 1, 2020. On August 8, 2021, a decision was issued for the parties to
indicate the evidence they still wish to produce in the lawsuit. As of December 31, 2021, the amount involved in this lawsuit
was ThBRL 195,080 (ThUS$ 35,023).
5. Fiação Nordeste do Brasil S/A (FINOBRASA), which has now been succeeded by Vicunha, filed a lawsuit against Enel Distribución
Ceará claiming that the readjustment of electricity tariffs made through Decrees Nos. 38 and 45 (DNAEE) in February 1986 are
illegal. FINOBRASA is seeking the declaration of illegality of the readjustments and an order that its effects be reflected in all
subsequent readjustments and the return of amounts inappropriately collected. The Court of Justice (court of second instance)
rendered a decision declaring the readjustment made in 1986 illegal, but rejected the reflection of its effects in the subsequent
readjustments (cascade effect). A special appeal filed by FINOBRASA is currently pending before the Superior Court of Justice
(court of third instance). As of December 31, 2021, the amount involved in the lawsuit was ThBRL 139,270 (ThUS$ 25,003).
6. Endicon Engenharia de Instalações e Construções S/A has filed a lawsuit for material and reputational damages against
Enel Distribución Rio and Enel Distribución Ceará for alleged contractual breaches. On December 2, 2021, the defendants filed
their defenses. As of December 31, 2021, the amount involved in the lawsuit in relation to the contracts of Enel Distribución
Ceará was ThBRL 215,408 (ThUS$38,673).
7. Due to the differences that arose in the interpretation of the ICMS tax laws, Enel Distribución Ceará has a total of 10 lawsuits
covering the years 2005 to 2014 brought by the Brazilian Tax Authority. Enel Distribución Ceará must apply the “pro rata”
rule to calculate the amount of the ICMS deductible with respect to the total ICMS included in energy purchases. The rule
stipulates that the percentage represented by the income taxed by ICMS over the total income (whether or not subject to
ICMS) is deductible. For the purposes of its inclusion in the pro rata denominator, Enel Distribución Ceará’s position is that the
untaxed income is the result of applying the energy’s final selling price (the price after deducting the State of Ceará subsidy
for low-income consumers) and the Brazilian Tax Authority maintains that the untaxed income is the price of the normal
tariff (without deducting the State of Ceará subsidy for low-income consumers). The company continues its defense in the
administrative and judicial proceedings. As of December 31, 2021, the total amount involved in these lawsuits was estimated
at ThBRL 250,000 (ThUS$ 44,883).
Consolidated Financial Statements 529
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8. The State of Ceará issued assessments to Enel Distribución Ceará for 2003, and the period from 2004 to 2014, claiming
that the ICMS for the acquisition of fixed assets had been incorrectly deducted. Enel Distribución Ceará filed its administrative
defenses in all administrative proceedings and is awaiting final decisions. As of December 31, 2021, the total amount involved
in these lawsuits was estimated at ThBRL 215,000 (ThUS$ 38,599).
9. The State of Ceará filed proceedings against Enel Distribución Ceará to demand ICMS on the subsidy paid by the Federal
Government to Enel Distribución Ceará (and all distributors in Brazil) for regulatory discounts applied to certain consumers,
such as rural producers and others for 2015 and 2016. For the 2015 proceedings, Enel Distribución Ceará filed an appeal
with the second administrative instance, after an unfavorable decision in the first administrative instance, and for the 2016
proceedings, the decision of the first administrative instance is pending. As of December 31, 2021, the total amount involved
in these proceedings was estimated at ThBRL 129,000 (ThUS$23,159).
Enel Distribución Goiás S.A. (formerly CELG Distribuição S.A.)
10. Several municipalities have filed lawsuits against Enel Distribución Goiás claiming that an agreement made with the State
of Goiás and the Goiana Association of Municipalities (AGM) which provides for the direct transfer to Enel Distribución Goiás of
ICMS amounts owed to the municipalities by the State of Goiás is illegal. The amounts transferred were used to pay late electric
bills. Enel Distribución Goiás responded that despite the potential illegality of the agreement, the amounts were effectively
due and it would not be possible to return them to the municipalities. The Court of Justice of Goiás is divided and there is still
no decision, which will only be rendered by the Superior Court of Justice (the court of third instance).
− Municipality of Aparecida de Goiânia versus Enel Distribución Goiás. As of December 31, 2021, the amount involved in
the claim was ThBRL 715,977 (ThUS$ 128,540).
− Municipality of Quirinópolis versus Enel Distribución Goiás. As of December 31, 2021, the amount involved in the claim
was ThBRL 387,930 (ThUS$ 69,646).
− Municipality of Anápolis versus Enel Distribución Goiás. As of December 31, 2021, the amount involved in the claim was
ThBRL 368,690 (ThUS$ 66,192).
− Municipality of Cezarina versus Enel Distribución Goiás. As of December 31, 2021, the amount involved in the claim was
ThBRL 162,490 (ThUS$ 29,172).
11.Enel Brasil S.A. and Enel Distribución Goiás filed a security order against the tax authority of the State of Goiás so that the
process for restitution of the amounts paid by Enel Distribución Goiás in relation to the claims guaranteed by Laws Nos. 17,555
(reimbursement for FUNAC) and 19,473 (reimbursement for ICMS – IVA Tax Credits) continues normally. The judge previously
rejected a request for an injunction. Enel Brasil and Enel Distribución Goiás filed an appeal against the decision, which was
accepted by the Court of Justice of the State of Goiás, suspending the application of the new law and upholding the validity
of Laws Nos. 17,555 (FUNAC) and 19,473 (Tax Credits). The injunction was subsequently revoked by the Court, as the Court did
not recognize the urgency that justified an injunctive measure. Enel Brasil S.A. and Enel Distribución Goiás have filed an appeal
against the decision, arguing that the right to the guaranty is legal and contractual, and the actions of the State of Goiás
with the goal of suspending the integral application of the laws are clearly illegal. On June 14, 2021 a decision in the merits
of the claims was rendered and an unconstitutionality motion was proposed, which by the procedural rules must be judged
by a special part of the court. On November 9, 2021 a summary decision was rendered and dismissed the unconstitutionality
motion. The claim returned for trial by the ordinary part of the court. There is no decision on the merits. The amount involved
in the lawsuit is indeterminate.
12. Enel Brasil S.A. and Enel Distribución Goiás filed an ordinary action against the State of Goiás requesting that Law No. 20,648
and all its effects be suspended. In summary, Law No. 20,648 completely revoked Law No. 19,473 (Tax Credits), which grants
Enel Distribución Goiás, as an alternative to cash payment, the right to offset payments made by the company for litigation
whose events arose before 2015 by means of ICMS (IVA) tax credits. The judge rejected the injunction request. Enel Brasil S.A.
and Enel Distribución Goiás have filed an appeal against the decision, arguing that the repeal of Law No. 19,473 (Tax Credits)
is unconstitutional, since the tax incentive provided in the Law was established in full conformity with applicable legislation
and was characterized as an acquired right, which is inviolable in accordance with Article XXXVI of the Brazilian Constitution.
In addition to characterizing the acquired right, article 178 of the Brazilian Tax Code establishes the impossibility of revocation of
a tax incentive granted by certain conditions, an understanding confirmed by repeated statements of the Federal Supreme Court
(STF Precedent 544). There has not been a decision in the first instance. The amount involved in the lawsuit is indeterminate.
13. The Public Prosecutor’s Office for Labor Matters filed a public civil action against Enel Distribución Goiás alleging that the
company was hiring third parties for the provision of final services (“outsourcing”), contrary to Brazilian law (Ruling 331 of the
Brazilian Superior Labor Court). In the court of first instance, the labor judge declared the sub-contracting legal. The Regional
Labor Court accepted the appeal filed by the Public Prosecutor’s Office for Labor Matters, reversed the decision of the labor
judge in the court of first instance and has declared the sub-contracting illegal. Enel Distribución Goiás filed an appeal with the
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Brazilian Superior Labor Court, which upheld the Regional Labor Court decision. The decision was suspended by the Federal
Supreme Court until judgment of the constitutional complaint relating to the matter is decided by the Federal Supreme Court.
The appeals by the Public Prosecutor’s Office for Labor Matters were dismissed and the decision was rendered final. The
amount involved in the lawsuit is indeterminate.
14. A union representing 1,715 employees filed a lawsuit against Enel Distribución Goiás questioning the legal nature of the
"food aid". The legal issue is the inclusion of this benefit in the compensation of the employees who received it before the
company’s adhesion to the PAT (Food Program for Workers) in 2008. A judgment was issued ordering the company to pay the
difference (integration of food aid to compensation of employees prior to May 7, 2008). Enel Distribución Goiás’ appeal was
rejected by the Regional Labor Court of the 18th Region (Goiás). Enel Distribución Goiás filed an appeal with the Superior Labor
Court, which was preliminarily rejected. Enel Distribución Goiás filed a clarification request against the decision, which the
court has dismissed and the decision was rendered final. Enel Distribución Goiás filed a request to annul the court’s decision.
In parallel, the union started to enforce the decision. As of December 31, 2021, the estimated amount involved in the lawsuit
was ThBRL 231,650 (ThUS$ 41,588).
15. Enel Distribución Goiás was audited by the Brazilian Tax Authority due to its position on the exclusion of ICMS amounts
from the Social Contributions base (PIS/COFINS). The company excluded the ICMS before a final decision was made, and
consequently the Brazilian Tax Authority issued four assessments against Enel Distribución Goiás, arguing that exclusion was
not permitted. In an unrelated case with precedential value, the decision by the Superior Court acknowledged that ICMS should
not be part of the PIS and COFINS tax base. In the specific case of Enel Distribución Goiás, the company learned in March 2021
about the final decision by the court on the right of Enel Distribución Goiás not to include the ICMS in the Social Contributions
base. The company obtained a firm and definitive decision in an annulment action for the cancellation of two assessments
collected in tax foreclosure. Because of that the Brazilian Tax Authority canceled a large part of the assessment, which was
reduced from ThBRL 398,447 (ThUS$ 71,534) to ThBRL 12,943 (ThUS$ 2,324). The company will continue to challenge judicially
the remaining assessments. The other assessments remain suspended. As of December 31, the total amount involved in these
lawsuits (including the reduction) was ThBRL 240,000 (ThUS$ 43,088).
16. In March 2017, the Federal Supreme Court resolved a matter of general applicability, related to the calculation of PIS and
COFINS taxes. The Federal Supreme Court confirmed the theory that the ICMS tax should not be part of the base for calculation
of PIS and COFINS taxes; however, the Brazilian federal government filed an appeal, in order to determine the temporary effects
and make some clarifications. On May 2021 the Federal Supreme Court ruled on the appeal and confirmed that the invoiced
ICMS should be considered in these credits and not the ICMS paid. In addition, the Federal Supreme Court established that
the effects will apply as of the March 2017 ruling, except for taxpayers who filed individual claims prior to that date.
Enel Brasil’s subsidiaries in Brazil that were affected by the Federal Supreme Court decision filed legal actions to this effect in
the respective Federal Regional Courts. During 2019 and 2020, Enel Distribución São Paulo was notified, Enel Distribución Ceará
was notified in 2019, and Enel Distribución Goiás was notified in March 2021, as well as Enel Distribución Rio in September 2021,
regarding the final judgments issued by their respective Federal Regional Courts, recognizing their right to deduct the ICMS
applied to their own operations from the base for calculation of PIS and COFINS taxes (for the periods between December
2003 and December 2014 for Enel Distribución São Paulo, May 2001 onwards for Enel Distribución Ceará, for Enel Distribución
Goiás the action was filed in 2003 and December 2003 onwards for Enel Distribución Rio).
Considering various internal analyses and the advice of legal advisors, as well as the best available estimates, Enel Distribución
São Paulo, Enel Distribución Ceará, Enel Distribución Goiás, and Enel Distribución Rio recognized assets amounting to ThBRL
5,931,750 (ThUS$ 1,064,948), ThBRL 1,045,643 (ThUS$ 187,727), ThBRL 2,973,397 (ThUS$533,824), and ThBRL 3,211,470
(ThUS$576,566), respectively, as of December 2021. As the overpayment of PIS and COFINS taxes was passed on to end
customers at the time, simultaneously with the recognition of these taxes to be recovered, Enel Brasil’s subsidiaries have
recognized a liability of a regulatory nature for the same amounts indicated above, net of any costs incurred or to be incurred
by the companies in these legal proceedings. These liabilities represent the obligation to refund to the end customers the
taxes that are recovered.
The Enel Américas Group will adopt tax credit recovery procedures in accordance with legal requirements. The transfer to
end customers will depend on the effective use of the tax credit by the companies and will be carried out in accordance with
the regulations of the Brazilian Electricity Regulatory Agency (ANEEL).
Enel Distribución Río (formerly Ampla Energia e Serviços S.A.)
17. Companhia Brasileira de Antibióticos (CIBRAN) filed a lawsuit against Enel Distribución Río seeking compensation for energy
supply failures in the years 1987 to 1994. The courts have dismissed another lawsuit filed by CIBRAN for similar failures that
occurred between 1995 and 1999.
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The judge in the court of first instance, ruled in favor of CIBRAN, against which Enel Distribución Rio has filed an appeal. On
November 6, 2019, the Court of Justice of the State of Rio de Janeiro (court of second instance) issued a decision accepting
Enel Distribución Rio’s appeal and dismissing all of CIBRAN’s requests. CIBRAN filed several appeals to the Superior Court of
Justice, the last one was dismissed on June 8, 2021. On June 22, 2021, CIBRAN filed a new appeal to the Superior Court of Justice,
which to date is pending. As of December 31, 2021, the amount involved in the claim was ThBRL 612,100 (ThUS$ 109,892).
18. Indústria de Papel e Embalagens S.A. (CIBRAPEL) filed a lawsuit against Enel Distribución Rio seeking compensation due to
energy supply failures. A final decision was rendered against Enel Distribución Río. The expert opinion fixed the compensation
at ThBRL 21,500 (ThUS$ 3,860), but the amount has been challenged by Enel Distribución Río, and the appeal is pending
resolution. As of December 31, 2021, the amount involved in the claim was ThBRL 256,600 (ThUS$ 46,068).
19. Endicon Engenharia de Instalações e Construções S/A filed a lawsuit for material and reputational damages against Enel
Distribución Rio and Enel Distribución Ceará for alleged contractual breaches. On December 2, 2021, the two companies filed
their defenses. As of December 31, 2021, the amount involved in the lawsuit in relation to the contracts of Enel Distribución
Rio was ThBRL 152,864 (ThUS$27,444).
20. The Niterói Workers Union filed a labor claim against Enel Distribución Rio demanding the payment of a 26.05% wage
differential from February 1989, by virtue of the Economic Plan instituted by Decree Law No. 2,335/87. The claim was adjudicated
against Enel Distribución Rio in all of the preceding court instances, and became final. Currently, an action for rescission filed
by Enel Distribución Rio is pending before the Superior Labor Court. In parallel, 887 former employees filed 543 lawsuits for
enforcement of the judgment against Enel Distribución Rio. On December 31, 2021, the amount involved in the lawsuit was
ThBRL 127,379 (ThUS$ 22,868).
21. The Brazilian Tax Authority served a notice of violation in 2003 against Enel Distribución Río to collect alleged COFINS
tax deficiencies for the period from December 2001 until March 2002. After adverse rulings in the courts of first and second
instance, Enel Distribución Río filed an extraordinary appeal with the Federal Supreme Court and received an unfavorable
decision. Enel Distribución Río submitted a new appeal to the Federal Supreme Court. The appeal was decided against the
company. Furthermore, in the view of the judge, the appeal filed was intended to cause a delay in the end of the litigation and,
therefore, the court applied a penalty of 5% on the value of the tax deficiency. The company filed an appeal to void the fine
applied and the decision reduced the penalty from 5% to 1% of the amount involved in June 2021. The litigation will be paid.
On December 31, 2021, the debt and fine amount involved in the lawsuit was ThBRL 175,000 (ThUS$ 31,418).
22. In 2005, the Brazilian Tax Authority notified Enel Distribución Río on the non-applicability of the special tax treatment that
had reduced to zero the withholding tax rate on interest paid abroad on the Fixed Rate Notes (FRN) issued by the company
in 1998. Enel Distribución Río is still litigating this issue in the judicial court of the first instance. As of December 31, 2021, the
total amount of this dispute is estimated at ThBRL 1,332,000 (ThUS$ 239,138).
23. The State of Río de Janeiro levied a tax assessment against Enel Distribución Río for the periods from 1996 to 1999 and
from 2007 to 2017, since it believed that the ICMS recorded on the acquisition of fixed assets had been incorrectly deducted.
Enel Distribución Río filed its administrative and judicial defenses in all proceedings. Part of the administrative proceedings was
resolved in Enel Distribución Río’s favor and the remaining part was appealed and the judicial proceedings await final decisions.
As of December 31, 2021, the total amount of this litigation is estimated at ThBRL 133,000 (ThUS$ 23,977).
Enel Distribución São Paulo (Eletropaulo)
24. Enel Distribución São Paulo filed an action seeking the annulment of Brazilian Electricity Regulatory Agency’s (ANEEL)
administrative decision, which determined the retroactive exclusion of the tariffs applied by Enel Distribución São Paulo before
the date of its third periodic review, with the refund of sums associated with a possibly non-existent network and rejected
a subsidiary request (made by Enel Distribución São Paulo) for inclusion of other existing service assets (network), but not
recorded in the company’s remuneration base. There is no first instance decision yet, and the lawsuit is in its initial phase. As
of December 31, 2021, the amount involved in the lawsuit was ThBRL 1,288,000 (ThUS$ 231,239).
25. The São Paulo electric power industry workers’ union filed five class-actions seeking the payment of hazard allowance for all
employees (except management positions) of Enel Distribución São Paulo located in the Barueri office until the decommissioning
of the generating unit that was in the attic (below the heliport), during the period from February 2012 to February 2016, the time
of the decommissioning of the generator unit and its installation outside the building. On July 11, 2019, a decision favorable
to Enel Distribución São Paulo was issued. The union filed an appeal with the court, which was dismissed on August 13, 2020.
As of December 31, 2021, the amount involved in the lawsuit was ThBRL 139,730 (ThUS$ 25,086).
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26. The Federal Public Prosecutor’s Office filed a public civil action against Enel Distribución São Paulo and Brazilian Electricity
Regulatory Agency (ANEEL) seeking to block the inclusion in consumers’ tariffs of amounts contracted with affiliated parties
(AES Tietê, at that time) and the reimbursement of double the amounts already collected. The court ruled in Enel Distribución
São Paulo’s favor, rejecting the actions, but the Federal Regional Court admitted the Federal Public Prosecutor’s Office’s appeal
and overturned the decision. An Enel Distribución São Paulo appeal against the Federal Regional Court’s decision is currently
pending in the Superior Court of Justice. The amount involved in the claim is indeterminate.
27. The Public Prosecutor’s Office for Labor Matters filed a public civil action against Enel Distribución São Paulo alleging that
the company was hiring third parties for the provision of final services (“outsourcing”), which is contrary to Brazilian law (Ruling
331 of the Brazilian Superior Labor Court), which allegedly only allows the provision of non-essential services by third parties.
On April 5, 2019, the judge issued a judgment rejecting (i) the request for a declaration of the existence of outsourcing fraud
and (ii) a link between the employees of the suppliers with Enel Distribución São Paulo, nevertheless, the judgment has ordered
Enel Distribución São Paulo to pay compensation for collective punitive damages in an amount of ThBRL 5,000 (ThUS$ 898),
and to align remuneration between Enel Distribución São Paulo’s own employees and the suppliers’ employees, with a fine
of ThBRL 1,000 (ThUS$179) for non-compliance. Enel Distribución São Paulo filed an appeal against the judgment with the
Regional Labor Court. On February 11, 2021, the Regional Labor Court accepted the appeal and dismissed all claims. The
amount involved in the claim is indeterminate.
28. Enel Distribución São Paulo filed a complaint requesting a declaration that the amounts of COFINS paid by the company
were paid in accordance with the rules of the Amnesty Program of the Brazilian Federal Government (reduction of fines and
interest) created in 1999. The complaint was filed by the company in September 1999. Following the decision in the court of
second instance that decided partly in its favor regarding the principal amount, interest and fine, in April 2018, the company
filed appeals with the Superior Court of Justice and the Federal Supreme Court which are currently pending. Of the total amount
of ThBRL 818,000 (ThUS$ 146,858) ThBRL 163,000 (ThUS$ 29,264) comprise the attorneys’ fees (20%) paid by the Brazilian
Tax Authority. The balance of ThBRL 654,000 (ThUS$ 117,415) is related to the capital (tax) paid with amnesty benefits. As of
December 31, 2021, the amount of possible loss involved in the litigation is ThBRL 163,000 (ThUS$ 29,264).
29. In May 2008, the Brazilian Tax Authority filed a lawsuit against Enel Distribución São Paulo seeking payment of the PIS
tax, corresponding to the rate increase for the period from March 1996 to December 1998. After unfavorable rulings in the
courts of first and second instances with respect to statute of limitation claims and not on the merits, Enel Distribución São
Paulo filed appeals with the Superior Court of Justice and the Federal Supreme Court. The amounts subject to dispute have
been covered by a bank guarantee. In this regard, while awaiting the outcome of this proceeding, the Attorney General of the
Department of the National Treasury of Brazil requested the replacement of the bank guarantee letter with a legal deposit.
This request was rejected and the Attorney General’s Office appealed this decision. In June 2019, the court of first instance
upheld the Attorney General’s appeal. Prior to the decision, the company made a legal deposit in the amount involved and,
in opposition to the decision, filed a petition for clarification of the decision which is currently pending. As of December 31,
2021, the amount in dispute was ThBRL 245,000 (ThUS$ 43,986).
30. In accordance with a final decision issued after a trial, Enel Distribución São Paulo was granted the right to offset claims for
FINSOCIAL (the social contribution system established in March 1992 before COFINS) related to amounts paid from September
1989 to March 1992. However, due to differences in the calculation of the credits stipulated by the Brazilian Tax Authority, part
of the offsets requested by the company were not accepted and were determined to be due by the Tax Authority. Following
a decision unfavorable to the company in the court of first instance, the company appealed this decision and this appeal is
pending before the administrative court of second instance. As of December 31, 2021, the amount in dispute was ThBRL
230,000 (ThUS$ 41,293).
31. The Brazilian Tax Authority issued a tax assessment to Enel Distribución São Paulo, based on the alleged non-payment
of Personal Income Tax (IRPJ) and Social Contribution on Net Profit (CSLL) for the 2001 and 2002 fiscal years, because the
company allegedly deducted integrated amounts paid to its pension fund from both the IRPJ and the CSLL, when the specific
regulation establishes a 20% limit for such deductions. After the unfavorable final ruling in the administrative proceeding in
October 2017, the dispute was submitted to the courts of law. In June 2019, a ruling favorable to Enel Distribución São Paulo
was issued in the court of first instance for re-adjudication of the company’s appeal in the Administrative Court. The Attorney
General’s Office appealed this decision. As of December 31, 2021, the amount in dispute was ThBRL 175,000 (ThUS$ 31,418).
32. The Brazilian Tax Authority issued a tax assessment to Enel Distribución São Paulo which rejected the offset related to
the credits of the PIS originated by legislative changes introduced by Decrees 2,445 and 2,449/1988, which were declared
unconstitutional by the Federal Supreme Court, that were offset against other federal taxes due in April and May 2013. The
company filed its defense in September 2014. In January 2019, following a partially favorable ruling in the court of first instance,
the company filed an appeal, which is pending before the Administrative Court of the second administrative instance. As of
December 31, 2021, the amount in dispute was ThBRL 162,000 (ThUS$ 29,084).
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33. Enel Distribución São Paulo filed a lawsuit seeking recognition of the right to offset the total tax credits resulting from
Enel Distribución São Paulo’s division against the Social Contribution on Net Profit (CSLL). Favorable rulings were issued in
the courts of first and second instance. In May 2017, the Tax Authority filed an interlocutory appeal with the Superior Court of
Justice, which is pending. As of December 31, 2021, the amount in dispute was ThBRL 155,000 (ThUS$ 27,828).
34. In July 2000, Enel Distribución São Paulo filed a lawsuit seeking the recognition of credits arising from improper payments
of PIS made pursuant to Decrees 2,445 and 2,449/1988, which were declared unconstitutional by the Federal Supreme Court.
In May 2012, a final decision was issued in favor of the company recognizing the right to the credits. However, tax assessments
were made on Enel Distribución São Paulo by the Brazilian Tax Authority because the offsets were rejected due to the fact that
they had been made before the legal action had ended, using federal tax debits in addition to PIS. The company claims that the
offsets were made on the basis of the favorable court ruling and that the adopted procedure was correct. After unfavorable
decisions were rendered in the court of first instance, the company filed appeals with the court of second instance. As of
December 31, 2021, the amount in dispute was ThBRL 667,000 (ThUS$ 119,749).
35. Enel Distribución São Paulo filed a complaint against the tax assessment issued by the Tax Authority of the Municipality of
São Paulo, seeking payment of the Public Lighting Contribution (COSIP) related to the period from March 2011 to December
2015. These tax assessments are based on the alleged irregularities attributed to the company: (i) incorrect classification of
customers, (ii) illegally applied tax exemption, and (iii) non-payment of the penalty for non-payment of contributions past due.
In August 2021, the Municipality of São Paulo filed 26 assessments against Enel Distribución São Paulo. Enel Distribución São
Paulo filed a guarantee and will present its defense. Enel Distribución São Paulo filed another guarantee in order to dispute
two other debts related to the same subject that the company is awaiting the collection acts. As of December 31, 2021, the
amount in dispute was ThBRL 181,000 (ThUS$ 32,496).
36. The Tax Authority of the State of São Paulo issued five tax assessments seeking payment of ICMS due to allegedly invalid
setoffs in which the company used assigned credits in the acquisition of fixed assets, and which the Tax Authority believed
was not appropriate. The company filed its administrative defenses in all the administrative procedures and is awaiting the
final decisions. As of December 31, 2021, the amount in dispute was ThBRL 156,000 (ThUS$ 28,008)
37. Enel Distribución São Paulo filed a complaint against Federal Decree No. 8,426/2015, which reinstated the PIS/PASEP and
COFINS taxes on financial income earned by companies subject to the non-cumulative PIS/PASEP and COFINS regime, at a
rate of 4.65%, as of July 1, 2015. The status of the litigation is that unfavorable decisions were rendered in the court of first
instance (November 2015) and at the court of second judicial instance (August 2017). In December 2017, the company filed
appeals with the Superior Court of Justice and the Federal Supreme Court. The Federal Supreme Court confirmed in a general
impact procedure the constitutionality of the PIS and COFINS tax on financial income. Therefore, the Enel Distribución São
Paulo considered it more appropriate to desist from discussing this litigation in September 2021. In November 2021, the
desistance was approved, and it was determined that the reports of the judicial deposits must be submitted in order to convert
the deposited securities into tax revenue. As of December 31, 2021, Enel Distribución São Paulo is awaiting approval of the
conversion of the deposited securities into tax revenue. The amounts involved in the matter are judicially deposited and will be
converted for the Federal Government. As of December 31, 2021, the amount in dispute was ThBRL 159,000 (ThUS$ 28,546).
38. Enel Distribución São Paulo filed a complaint claiming the right not to consider in its bases of calculation of Personal
Income Tax (IRPJ) and Social Contribution on Net Profit (CSLL), the amounts related to interest derived from the delay in fulfilling
contractual obligations on the part of third parties that maintain contractual relations of any type with the company (interest
as an advance valuation of damages). In March 2012, the court of first instance issued a decision favorable to Enel Distribución
São Paulo. The Brazilian Tax Authority appealed this decision, and the appeal is awaiting decision. Since the decision of the
court of first instance was rendered, the company has not paid the disputed taxes to the federal government. As of December
31, 2021, the amount in dispute was ThBRL 176,000 (ThUS$ 31,598).
39. Enel Distribución São Paulo filed lawsuits against several tax assessments issued by the Tax Authority of the State of São
Paulo claiming the payment of ICMS due to alleged irregularities in the debt reversal transactions. The company is presently
challenging five tax assessments and two administrative proceedings, for which final decisions are pending. As of December
31, 2021, the amount in dispute was ThBRL 193,000 (ThUS$ 34,650)
40. The Brazilian Tax Authority issued tax assessments to Enel Distribución São Paulo based on the alleged non-payment
of PIS/PASEP and COFINS taxes for the period from 2013 to 2015, arising from the disallowance of credits assigned in the
acquisition of goods and services. In 2020, Enel Distribución São Paulo received two more violation notices indicating credits
of said contributions, taken advantage of from August 2016 to December 2018, for not excluding credits related to the value
of non-technical energy losses. The company filed its defenses in the two administrative proceedings and is awaiting the final
decisions. As of December 31, 2021, the amount in dispute was ThBRL 252,000 (ThUS$ 45,242).
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41. Tax assessment issued by the Brazilian Tax Authority against Enel Distribución São Paulo, based on the alleged non-payment
of Personal Income Tax (IRPJ) and Social Contribution on Net Profit (CSLL) for the fiscal years 2017, 2018 and 2019, due to the
fact that the company allegedly deducted premium amounts from the IRPJ and from the CSLL. The tax use of the premium
amortization was initiated after the corporate reorganizations carried out by the former controlling company in 2016. Enel
Distribución São Paulo filed its defense in the administrative proceedings and is awaiting the final decisions. As of December
31, 2020, the amount in dispute was ThBRL 751,000 (ThUS$134,830).
Enel CIEN S.A.
42. Enel CIEN S.A. is an Enel Américas group transmission company in Brazil. Its network connects the electrical system of
Brazil and Argentina. Enel CIEN has signed a contract with Tractebel Energia S.A. for the purchase and sale of energy with firm
power and associated energy from Argentina. In 2005, due to the energy and economy crisis in Argentina, it was no longer
possible to fulfill the terms of the contract. Tractebel Energia S.A. filed actions for declaration of contractual termination,
imposition of contractual penalties and claims for compensation (not estimable to date).
There is no injunction and there is still no first instance decision. The case is currently in the production of evidence stage
(expert opinions). As of December 31, 2021, the amount involved in the lawsuit was ThBRL 597,480 (ThUS$ 107,269).
Enel Brasil S.A.
43. In 2014, the Brazilian Tax Authority issued an assessment to Enel Brasil claiming violations in the collection of income
tax on dividends allegedly distributed in an amount larger than owed in 2009 and 2010. After adverse rulings at the first and
second administrative instances, the company appealed to the third administrative level (special body) and the decision was
unfavorable. Enel Brasil appealed to the judiciary and the interim decision was unfavorable. The company appealed to the
court of second instance, but the decision was also unfavorable. The company posted bond in the collection lawsuit, and it
was accepted. Enel Brasil submitted its defense within the legal deadline. As of December 31, 2021, the total amount involved
in this litigation is estimated at ThBRL 365,000 (ThUS$ 65,530)
Colombia:
Emgesa S.A. ESP
44. José Rodrigo Alvarez and approximately 1,400 other individuals — all of them residents of the municipality of Garzón — filed
a class-action lawsuit, currently pending in the Fourth Civil Court of the Circuit of Bogotá, against Emgesa S.A. ESP. It is claimed
that, as a consequence of the construction of El Quimbo hydroelectric project, their income from artisanal and business activities
was reduced by an average of 30% even though the socioeconomic study of the project had taken this into account. The case has
been in the evidentiary stage since 2016. Emgesa S.A. ESP. is waiting for the Court to decide whether this production of evidence
is deemed waived, in order to proceed to the closing arguments. The amount of the claim is ThCOP 30,619,930 (ThUS$ 7,523).
45. A class action lawsuit filed against Emgesa S.A. ESP, the Colombian Ministry of Environment and Development and the
Colombian Ministry of Mines and Energy, Comepez S.A. and other fish farm and artisanal fishermen companies, is currently
under review by the Huila Administrative Court. Fishermen are seeking the protection of collective rights and a healthy
environment, public health, and food safety. Furthermore, the plaintiffs are seeking the issuance of an order compelling the
entities to immediately take the necessary corrective and preventive measures to halt the imminent danger of massive fish
mortality in the Betania reservoir fish farming projects, relating to the filling of the reservoir and the operation of the El Quimbo
hydroelectric project. This lawsuit does not have a specified monetary amount because of its nature of protection of collective
rights. On February 1, 2021, the Huila Administrative Court, which, while recognizing that the oxygenation system implemented
by Emgesa S.A. ESP mitigated the risks associated with the protection of wildlife in the Betania basin, required the company
to implement a project to decontaminate the river basin, which will be subject to verification by the Colombian environmental
authority, ANLA, as well as to permanently ensure the operation of the oxygenation system already implemented. Emgesa S.A.
ESP filed an appeal on March 4, 2021. It is expected that a second instance ruling will be issued in 2025.
46. An action for nullity and reinstatement of rights filed by Emgesa S.A. ESP against the Corporación Autónoma Regional de
Cundinamarca (CAR). CAR by means of Resolutions No. 506 of March 28, 2005 and 1189 of July 8, 2005, ordered Emgesa S.A.
ESP, EEB and Empresa de Acueducto y Alcantarillado de Bogotá (EEAB) to carry out works in the El Muña reservoir. Emgesa S.A.
ESP filed a lawsuit against the resolution seeking their reversal. Regarding the procedural status, a first instance judgment was
issued rejecting the reversal of these resolutions. Appeals were filed by Emgesa S.A. ESP, EEB and EEAB, which are currently
pending resolution. There is also a parallel action for nullity and reinstatement of rights brought by Emgesa S.A. ESP against CAR,
seeking the nullity of Article 2 of Resolution No. 1318 of 2007 and Article 2 of Resolution No. 2000 of 2009, whereby Emgesa
S.A. ESP has been required to implement a "Contingency Plan" and to carry out an "Air Quality" study in case the pumping of
Consolidated Financial Statements 535
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water from the reservoir is suspended. The evidentiary stage was completed and closing arguments were presented and, as
of this date, the ruling of the court of first instance is pending. The amount involved in this litigation is indeterminate.
Codensa S.A.
47. In a class-action lawsuit filed by several residential complexes — including the Sabana Medical Center — against Codensa
S.A. in the First Administrative Court of the Bogotá Capital District, the plaintiffs demand the refund of an alleged tariff cost
excess that they were charged due to a failure to apply a tariff benefit to which the plaintiffs argue they are entitled as Voltage
Level One users and infrastructure owners, as established in Resolution No. 082 of 2002, modified by Resolution No. 097 of
2008. The proceedings are in the evidentiary stage since May 15, 201. The estimated value of this lawsuit is approximately
COP 337 million (ThUS$ 82,800).
48. Henry Andrew Barbosa filed a class-action lawsuit against Codensa S.A. and the Special Public Services Administrative
Unit (UAESP) of the Bogotá Capital District before the Tenth Administrative Judge of the Bogotá Capital District. Subsequently,
Codensa S.A. filed an action for nullification and restoration of rights against the UAESP, which is currently pending before
the Administrative Court of Cundinamarca. In the class action, the judge ordered Codensa S.A. and the UAESP to reassess
the 1997 Public Lighting Agreement signed between them, since it was determined that there were 8,661 fewer street lights
than Codensa S.A. had taken into account in its billing. In 2014, the parties agreed to the reassessment and carried out a
transaction for the period from 1998 to 2004, resulting in a debt of COP 14,433 million (ThUS$ 3,546) owed by Codensa S.A.
to the UAESP. By an order of June 1, 2017, the Court refused to consider the above-mentioned 2014 agreement and instead
ordered the UAESP to carry out a unilateral assessment. In compliance with the order, the UAEPS issued Resolution No.
000730 of December 18, 2017, where it determined that Codensa S.A. should pay COP 113,082 million (ThUS$ 34,426). An
action for nullification and reinstatement of rights was filed against the UAESP. On August 21, 2019, the Administrative Court
of Cundinamarca determined that no further evidence was needed and ruled against Codensa S.A., subtracting any value
from the reassessment agreed by the parties in 2014. An appeal was filed and submitted to the Council of State. The UAESP
had begun the collection process, but the collection was suspended with the admission of the nullification action. Codensa
S.A. paid COP 24,400 million (ThUS$ 5,995), which it considers its obligation to pay under the 2014 reassessment agreements.
In total, the nullification action has an approximate value of COP 88,698 million (ThUS$ 21,793).
49. The Administrative Court of Cundinamarca notified Carlos Mario Restrepo Molina, as liquidator of Sociedad Luz de
Bogotá S.A. (to which Enel Américas is the successor) of a writ of mandamus against him in the amount of COP 35,073
million (ThUS$ 8,617). The enforcement process was initiated by the Chamber of Commerce of Bogota against the liquidator
because when registering act No. 26 of July 9, 2004, (whereby the final liquidation account and the act of distribution of
remainders were approved) no registration tax was generated in favor of the Governor’s Office of Cundinamarca. This led
the Revenue Directorate of the Treasury Department of the Department of Cundinamarca to issue Revision Settlement No.
0001 of 2007, whereby it modified the registration tax return filed by the Chamber of Commerce of Bogotá and imposed
a penalty for inaccuracy on the latter as the collecting entity. After a nullification proceeding instituted by the Chamber of
Commerce of Bogotá against the Government of Cundinamarca for this action, the State Council decided that indeed the
registration tax should have been paid and the Chamber of Commerce of Bogotá, through Resolution no. 061 of April 21,
2016, issued an order to pay the registration tax in the amount of COP 35,073 million (ThUS$ 8,617). Currently, an appeal
for reconsideration was filed against the writ that issued the payment order; however, the Court decreed the nullification
on the grounds that the liquidator had been improperly notified. Once the notification has been served, the appeal against
the writ issuing the payment order will be filed again.
Costa Rica:
P.H. Chucás S.A.
50. On May 19, 2021, P.H. Chucás S.A. initiated an arbitration proceeding filed with the Costa Rican-North American Chamber
of Commerce (AMCHAM CICA) against the Instituto Costarricense de Electricidad (ICE) for an approximate amount of US$362
million in order to obtain recognition of the higher costs incurred for the construction of the Chucás plant and of the extension
of the deadline to complete the construction work, in order to vacate the penalty imposed by ICE on P.H. Chucás S.A. for an
alleged delay in the completion of the construction.
On June 23, 2021, ICE filed its response to P.H. Chucás S.A.’s claims, formally objecting to the jurisdiction of the arbitral tribunal.
The arbitral tribunal rejected ICE’s objection in a resolution dated August 4, 2020, to which ICE filed a motion for revocation
with a subsidiary appeal. The arbitral tribunal once again rejected the appeal for revocation and referred the appeal to the
First Chamber of the Supreme Court of Justice, determining the suspension of the arbitration process until the First Chamber
resolves ICE’s appeal. The arbitration process is currently suspended.
536
Integrated Annual Report Enel Américas 2021
EGP Costa Rica S.A. and ESSA2 SpA (Chile):
51. On September 30, 2021, in view of the systematic blocking of alternatives by Costa Rican entities, and in the absence
of solutions and concrete actions by the Government of Costa Rica that would allow the resumption of operations of the
P.H. Don Pedro and P.H. Rio Volcán hydroelectric projects, ESSA2 SpA and EGP Costa Rica S.A. filed a request for arbitration
with the International Centre for Settlement of Investment Disputes (ICSID) against the Government of Costa Rica, claiming
violation of the provisions of the Treaty regarding (i) expropriation (Article 6 of the Treaty) and (ii) fair and equitable treatment
(Article 4 of the Treaty).
On October 13, 2021, ICSID formally and officially registered the request for arbitration, and the parties are currently in the
process of appointing the arbitral tribunal.
In relation to the litigation proceedings described above, the Group has established provisions for ThUS$88,973 as of December
31, 2021 (see Note 24). There are other lawsuits that also have associated provisions, but they are not described in this note
since they individually represent immaterial amounts. Management believes that the provisions recorded adequately cover
the risks of litigation. Therefore, they do not expect additional liabilities to arise from other than those already registered.
34.4 Financial restrictions
Several debt contracts of the Company, and of some of its subsidiaries include the obligation to comply with certain financial
ratios, which is common in contracts of this nature. There are also affirmative and negative covenants that require monitoring
of these commitments. In addition, there are restrictions in the sections of events of default that must be fulfilled to avoid
acceleration of the debt.
Financial restrictions
Enel Américas
Enel Américas
Revolving credit facility
Yankee Bonds
Enel Américas
Yankee Bonds
Enel Américas
B2 Series Bonds
Type of restricted
instrument
Restriction to be met by
the Reporting Entity or
Subsidiary
Any debt held by Enel
Américas for any financial
debt in default, and where
the principal owed leading
to cross default exceeds
US$150 million in a single
debt.
Any financial debt held
by Enel Américas or any
Significant Subsidiary, for
any amount in default, and
where the principal owed
leading to cross default
exceeds US$150 million in
a single debt.
Any financial debt held
by Enel Américas, for any
amount in default, and
where the principal owed
leading to cross default
exceeds US$30 million in a
single debt.
Creditor
BBVA, S.A. New York
Branch
BNY Mellon (representative
of bond holders)
BNY Mellon (representative
of bond holders)
Registration number
-
ISIN: US29274FAF18
ISIN: US29274FAC86
Indicator or financial ratio
name
Frequency of
measurement
Cross default
Cross default
Cross default
Cross default
Quarterly
Quarterly
Quarterly
Quarterly
Mechanism to calculate
or define the indicator or
ratio
Debt in default exceeding
US$150 million in principal
owed, individually.
Debt in default exceeding
US$150 million in principal
owed, individually.
Debt in default exceeding
US$30 million in principal
owed, individually.
Debt in default exceeding
3% of Total Consolidated
Assets, individually or in
aggregate.
Restriction must be
met (Range, Value,
Measurement Unit)
Indicator or ratio
determined by the
Company
Having no individual debts
in default exceeding
US$150 million.
Having no individual debts
in default exceeding
US$150 million.
Having no individual debts
in default exceeding
US$30 million.
Having no individual debts
in default exceeding 3% of
Total Consolidated Assets.
There are no individual
debts in default exceeding
US$150 million.
There are no individual
debts in default exceeding
US$150 million.
There are no individual
debts in default exceeding
US$30 million.
Any financial debt held
by Enel Américas, for any
amount in default, and
where the principal owed
leading to cross default
exceeds 3% of Total
Consolidated Assets, at
stand-alone or aggregate
level.
Banco Santander
(representative of bond
holders)
BENER-B2 Registration
No. 269
There are no debts in
default exceeding 3%
of Total Consolidated
Assets, individually or in
aggregate.
Yes
-
Compliance YES/ NO
Accounts used to calculate
the indicator or ratio
Yes
-
Yes
-
Yes
-
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Financial covenants
Financial covenants are contractual commitments with respect to minimum or maximum financial ratios that the Company
is obliged to meet at certain years of time (quarterly, annually, etc.) and in some cases only when certain conditions are met.
Most of the financial covenants of the Company limit leverage and track the ability to generate cash flow that will service the
companies’ indebtedness. Certain companies are also required to periodically certify these covenants. The types of covenants
and their respective limits vary according to the type of debt and contract.
The Series B2 Chilean bonds of the Company include the following financial covenants, whose definitions and calculation
formulas are set out in the respective contract. On the other hand, the “Yankee Bonds” and any other debt of Enel Américas
at an individual level, are not subject to compliance with financial covenants.
The debts of Enel Américas’ subsidiaries include the following financial covenants. The definitions and calculation formulas
of these covenants are established in each relevant contract.
Financial restrictions
Enel Américas
Type of restricted
instrument
Restriction to be met by
the Reporting Entity or
Subsidiary
B2 Series Bonds
A Minimum Equity of
Ch$718,262 million must
be maintained, and this
limit is updated at the
close of each year, as
established by contract.
Enel Américas
B2 Series Bonds
Enel Américas
B2 Series Bonds
Enel Distribución Perú
IV Program Bonds
An Indebtedness Ratio,
defined as the ratio of
Current Liabilities to
Equity, must remain lower
or equal to 2.24.
Assets that may constitute
collateral or Total Free
Assets must be kept
at a ratio greater or of
equal than 1 with respect
to Unsecured Current
Liabilities.
A Net Indebtedness to
Equity ratio must remain of
less than or equal to 1.70.
Creditor
Banco Santander Chile
(Representative of Bond
Holders)
Banco Santander Chile
(Representative of Bond
Holders)
Banco Santander Chile
(Representative of Bond
Holders)
Banco Continental S.A.
(Representative of Bond
Holders)
Registration number
BENER-B2 Registration
No. 269
BENER-B2 Registration
No. 269
BENER-B2 Registration
No. 269
ISIN: PEP70101M498;
PEP70101M506;
PEP70101M514;
PEP70101M522;
PEP70101M530
Indebtedness Ratio
Indicator or financial ratio
name
Frequency of
measurement
Mechanism to calculate
or define the indicator or
ratio
Minimum Equity
Indebtedness Ratio
Assets that can Constitute
Collateral
Quarterly
Quarterly
Quarterly
Quarterly
The Current Liabilities is
the sum of total current
liabilities and total non-
current liabilities.
Equity corresponds to
Equity attributable to
the controller’s owners,
which is different from the
Minimum Equity level to be
adjusted by a percentage,
as long as it is positive,
of the annual variation
in the Consumer Price
Index, multiplied by the
difference between 1 less
than the Non-Monetary
Assets in Chile recorded
in Chilean pesos and the
Equity attributable to the
Controlling Company.
If the annual variation
in the Consumer Price
Index is negative or the
ratio of Non-Monetary
Assets in Chile recorded
in Chilean pesos to
Equity Attributable to the
Controlling Company is
greater than one, there
will be no adjustment that
year.
538
Integrated Annual Report Enel Américas 2021
The Equity is the sum of
Equity attributable to the
controller’s owners and the
Non-controlling interest.
Restriction must be
met (Range, Value,
Measurement Unit)
Indicator or ratio
determined by the
Company
The Total Free Assets is
the difference between
Total Net Assets and Total
Encumbered Assets. Total
Net Assets considers the
Total Assets minus the
sum of cash on hand,
bank balances, current
accounts receivable from
related companies, current
prepayments, non-current
accounts receivable
from related companies,
and identifiable gross
intangible assets, while
Total Encumbered
Assets corresponds
to assets committed
as direct guarantees.
The Unsecured Current
Liabilities correspond to
the sum of total current
liabilities and total
non-current liabilities,
minus Secured Liabilities
through direct and indirect
guarantees.
A Minimum Equity of
Ch$718,262 million must
be maintained, and this
limit is updated at the
close of each year, as
established by contract.
The sume of Total
Liabilities minus Cash
divided by Equity.
An Indebtedness Ratio,
defined as the ratio of
Current Liabilities to
Equity, must remain of
lower or equal to 2.24.
Assets that may constitute
collateral must be kept
at a ratio of greater or
equal than 1 with respect
to Unsecured Current
Liabilities.
An Indebtedness Ratio of
less than or equal to 1.70
must be kept.
ThCh$12,695,769,256
1.33
Compliance YES/ NO
Yes
Yes
Accounts used to calculate
the indicator or ratio
Equity attributable to the
controller’s owners and the
Non-controlling interest
Total Current Liabilities;
Total Non-Current
Liabilities; Equity
attributable to the
controller’s owners; Non-
controlling interest
1.01
Yes
Total Liabilities; Deferred
Liabilities; Cash; Equity
1.35
Yes
Total Assets; Cash on
Hand; Bank Balances;
Current accounts
receivable from related
companies; Current
prepayments; Non-current
accounts receivable
from related companies;
identifiable gross
intangible assets; Assets
committed through direct
guarantees; Total current
liabilities; Total non-
current liabilities; Secured
Liabilities through direct
and indirect guarantees.
Consolidated Financial Statements 539
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Financial restrictions
Type of restricted instrument
Restriction to be met by the
Reporting Entity or Subsidiary
Enel Generación Perú
III Program Bonds
An Indebtedness Ratio of less
than or equal to 1.50 must
be kept.
Enel Distribución Rio
Cred. with Fin. Inst.
Must maintain a ratio of debt
payment capacity to EBITDA
of less than or equal to 3.50.
Enel Distribución Rio
Cred. with Fin. Inst.
A relationship must be
maintained between Debt
payment capacity over the
sum of debt and Equity of
less than or equal to 0.60.
Enel Distribución Ceará
Bonds 5th, 6th and 7th Issues
A ratio between Debt
payment capacity over
EBITDA must be maintained
of less than or equal to 3.50.
Banco de Desarrollo de Brasil Banco de Desarrollo de Brasil Oliveira Trust Distribuidora de
Creditor
Banco Continental S.A.
(Representative of Bond
Holders)
Registration number
ISIN: PEP70051M198;
PEP70051M354
-
-
Indebtedness Ratio
Net Financial Debt / EBITDA
Quarterly
The sum of Financial Debt
minus Cash is divided by
Consolidated Net Equity.
An Indebtedness Ratio of less
than or equal to 1.50 must
be kept.
Annual
The sum of Bank Debt minus
Cash is divided by EBITDA.
Must maintain a ratio of debt
payment capacity to EBITDA
of less than or equal to 3.50.
0.06
1.16
Total Financial Debt net of
cash / (Total Bank Debt net of
cash + Equity)
Annual
Divide the sum of Bank Debt
less Cash by the sum of this
and Equity.
A relationship must be
maintained between Debt
payment capacity over the
sum of debt and Equity of
less than or equal to 0.60.
0.14
Indicator or financial ratio
name
Frequency of measurement
Mechanism to calculate or
define the indicator or ratio
Restriction must be met
(Range, Value, Measurement
Unit)
Indicator or ratio determined
by the company
Compliance YES/ NO
Accounts used to calculate
the indicator or ratio
Yes
Financial debt; Cash;
Consolidated equity
Yes
Bank Debt, Cash, EBITDA
Yes
Bank Debt, Cash, Equity
Yes
Financial Debt, Cash, EBITDA
Financial restrictions
Type of restricted instrument Cred. with Fin. Inst.
Restriction to be met by the
Reporting Entity or Subsidiary
Enel Distribución Ceará
Must maintain a ratio of debt
payment capacity to EBITDA
of less than or equal to 3.50.
Creditor
Scotiabank, BNP Paribas,
SMBC
Enel Distribución Ceará
Cred. with Fin. Inst.
Must maintain a ratio of debt
payment capacity to EBITDA
of less than or equal to 3.50.
Enel Distribución Ceará
Cred. with Fin. Inst.
A relationship must be
maintained between Debt
payment capacity over the
sum of debt and Equity of
less than or equal to 0.60.
Enel Distribución Sao Paulo
23rd Issue Bonds
A ratio between Debt
Payment Capacity over
Adjusted EBITDA must be
maintained of less than or
equal to 3.50.
Banco de Desarrollo de Brasil Banco de Desarrollo de Brasil Oliveira Trust Distribuidora de
Registration number
-
-
-
Indicator or financial ratio
name
Frequency of measurement
Mechanism to calculate or
define the indicator or ratio
Net Financial Debt / EBITDA
Net Financial Debt / EBITDA
Quarterly
The sum of Financial Debt
minus Cash is divided by
EBITDA.
Annual
The sum of Financial Debt
minus Cash is divided by
EBITDA.
Restriction must be met
(Range, Value, Measurement
Unit)
A ratio between Debt
payment capacity over
EBITDA must be maintained
of less than or equal to 3.50.
A ratio between Debt
payment capacity over
EBITDA must be maintained
of less than or equal to 3.50.
Total Financial Debt net of
cash / (Total Bank Debt net of
cash + Equity)
Annual
Divide the sum of Bank Debt
less Cash by the sum of this
and Equity.
A relationship must be
maintained between Debt
payment capacity over the
sum of debt and Equity of
less than or equal to 0.60.
0.26
Indicator or ratio determined
by the Company
Compliance YES/ NO
Accounts used to calculate
the indicator or ratio
2.89
1.34
Yes
Financial Debt, Cash, EBITDA
Yes
Financial Debt, Cash, EBITDA
Yes
Bank Debt, Cash, Equity
540
Integrated Annual Report Enel Américas 2021
Títulos E Valores Mobiliarios
S.A. (Representative of
Bondholders)
ISIN: BRCOCEDBS077;
BRCOCEDBS085;
BRCOCEDBS0A3;
BRCOCEDBS0B1;
BRCOCEDBS0C9;
BRCOCEDBS0D7
Net Financial Debt / EBITDA
Quarterly
The sum of Financial Debt
minus Cash is divided by
EBITDA.
A ratio between Debt
payment capacity over
EBITDA must be maintained
of less than or equal to 3.50.
2.89
Títulos E Valores Mobiliarios
S.A. (Representative of
Bondholders)
ISIN: BRELPLDBS0V6;
BRELPLDBS001
Net Financial Debt / Adjusted
EBITDA
Quarterly
The sum of Financial
Debt less Cash is divided
by Adjusted EBITDA less
Financial Leasing Expenses
A ratio between Debt
Payment Capacity over
Adjusted EBITDA must be
maintained of less than or
equal to 3.50.
1.38
Yes
Financial Debt, Cash, EBITDA;
Finance leases
Financial restrictions
Type of restricted
instrument
Restriction to be met by
the Reporting Entity or
Subsidiary
Creditor
Registration number
Enel Distribución Sao
Paulo
24th and 25th Issuance
Bonds
Enel Distribución Sao
Paulo
Enel Distribución Sao
Paulo
EGP Volta Grande
Cred. with Fin. Inst.
Cred. with Fin. Inst.
1st Issue Bonds
A ratio between Debt
Payment Capacity over
Adjusted EBITDA must be
maintained of less than or
equal to 3.50.
A ratio between Debt
Payment Capacity over
Adjusted EBITDA must be
maintained of less than or
equal to 3.50.
A ratio between Debt
Payment Capacity over
Adjusted EBITDA must be
maintained of less than or
equal to 3.50.
A ratio between Debt
payment capacity
over EBITDA must be
maintained of less than or
equal to 4.00.
Oliveira Trust
Distribuidora de Títulos
E Valores Mobiliarios
S.A. (Representative of
Bondholders)
ISIN: BRELPLDBS0X2;
BRELPLDBS0Y0;
BRELPLDBS100
BNP Paribas and MUFG
Scotiabank
Oliveira Trust
Distribuidora de Títulos
E Valores Mobiliarios
S.A. (Representative of
Bondholders)
Indicator or financial ratio
name
Net Financial Debt /
Adjusted EBITDA
Net Financial Debt /
Adjusted EBITDA
Net Financial Debt /
Adjusted EBITDA
Net Financial Debt /
EBITDA
Frequency of
measurement
Mechanism to calculate
or define the indicator or
ratio
Restriction must be
met (Range, Value,
Measurement Unit)
Quarterly
Quarterly
Quarterly
Quarterly
The sum of Financial Debt
minus Cash is divided
by Adjusted EBITDA plus
Losses due to deactivation
of assets and rights
The sum of Financial Debt
minus Cash is divided
by Adjusted EBITDA plus
Losses due to deactivation
of assets and rights
The sum of Financial Debt
minus Cash is divided
by EBITDA plus sectoral
adjustments
The sum of Financial Debt
minus Cash is divided by
EBITDA.
A ratio between Debt
Payment Capacity over
Adjusted EBITDA must be
maintained of less than or
equal to 3.50.
A ratio between Debt
Payment Capacity over
Adjusted EBITDA must be
maintained of less than or
equal to 3.50.
A ratio between Debt
Payment Capacity over
Adjusted EBITDA must be
maintained of less than or
equal to 3.50.
A ratio between Debt
payment capacity
over EBITDA must be
maintained of less than or
equal to 4.00.
Indicator or ratio
determined by the
Company
1.35
Compliance YES/ NO
Yes
1.36
Yes
1.36
Yes
1.97
Yes
Accounts used to calculate
the indicator or ratio
Financial Debt, Cash,
EBITDA
Financial Debt, Cash,
EBITDA
Financial Debt, Cash,
EBITDA
Financial Debt, Cash,
EBITDA
The rest of the subsidiaries not mentioned in this Note are not subject to compliance with financial covenants.
Lastly, in most of the contracts, debt acceleration due to non-compliance with these covenants is not automatic, and certain
conditions must be met, such as expiration of the cure period, among other conditions.
As of December 31, 2021, none of the subsidiaries of Enel Américas was in compliance with its financial obligations summarized
herein, or other financial obligations whose compliance might result in the early maturity of their financial commitments.
34.5 COVID-19 contingency
On January 30, 2020, the World Health Organization (WHO) declared the outbreak of the new coronavirus 2019, or COVID-19,
to be a "Public Health Emergency of International Concern". On March 11, 2020, the WHO confirmed that the outbreak of
COVID-19 had reached the level of a pandemic, which could significantly affect all the countries in which the Group operates,
as well as the Group’s trade partners within and outside these countries.
To address this international public health emergency due to COVID-19, the governments of all the countries in which Group
operates, have adopted various measures, essentially designed to restrict free movement of individuals, which include
quarantines, social isolation and temporary closure of companies and businesses, among other measures. Governments
have also taken measures to preserve access to essential services such as water and electricity during the health emergency,
especially directed to residential customers with lower income, small and medium sized companies and institutions that
provide other essential services such as health establishments.
These measures refer basically to the temporary suspension of disruption of electric supply due to customers recording
payment defaults and deferral of the payment of electricity bills for a certain number of months, without interest or penalties
charged to customers. In this sense, the Group issued guidelines intended to guarantee compliance with the measures
introduced by the governments of the countries in which the Group operates and has taken a number of actions to adopt the
most adequate procedures to prevent and/or mitigate the effects of COVID-19 infection in the workplace, while guaranteeing
business continuity.
Consolidated Financial Statements 541
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The above has been possible mainly due to:
• The use of telework for all employees whose jobs can be performed remotely (50% of the staff). This work mode was introduced
in the Group a few years ago, which thanks to investment in digitalization, allows work to be performed remotely with the
same level of efficiency and effectiveness;
• Digitalization of processes and infrastructure, which ensures the normal operation of our generation assets, continuity of
the electrical service and remote management of all activities related to the market and customer relations.
• All the company’s efforts continue to focus on guaranteeing the correct and safe operation of our businesses, while at the
same time safeguarding the health and safety of our collaborators and helping the community with various solidary measures.
• In relation to the degree of uncertainty generated in the macroeconomic and financial environment in which the Group
operates and their effect on the Company’s income as of December 31, 2021, these are fundamentally related to an increase
in the impairment loss on trade accounts regarding the pre COVID 2019 situation (see Notes 2.3, 3.g.3 and 9.c).
34.6 Other Information
(i) Enel Generación Costanera S.A. – Enel Generación El Chocón S.A. – Central Dock Sud S.A.
Fund for necessary investments to increase the supply of electricity in the MEM “FONINVEMEM”
January 7, 2020 and February 10, 2020 were the ten-year anniversaries of the start of Commercial Operation of Central Térmica
Manuel de Belgrano (TMB) and Central Térmica San Martin (TSM), respectively, ending the electric energy supply contracts signed
between the respective Trusts and CAMMESA at the time. Likewise, on the indicated dates, the respective Trust Agreements
and Contracts for the Operation and Maintenance Management (CO&M) of both power plants came to an end. TMB and TSM,
as managing companies, together with their current shareholders (which include the Company as a guarantor) must perform
the company actions necessary to allow the entry of the Argentine national government in the equity of both companies. The
corresponding ownership interest of the Argentine national government is a controversial matter, since the government claims
a higher share percentage of both thermoelectric plants. In order to ensure the operation and maintenance of the power
plants, the term of the respective CO&M contracts has been extended, with the corresponding extensions being signed on
January 7 and January 9, 2020, respectively.
On May 4 and May 8, 2020 the Extraordinary Shareholders’ Meetings of TMB and TSM were held, respectively, whereby the
shareholders agreed to increase the share capital in order for the Argentine national government to be able to subscribe to the
capital increase, and in this manner, become the holder of 65.006% and 68.826 % of the shares of TMB and TSM, respectively,
thus complying on time and in the proper manner with the condition precedent established in articles 1.01 and 7.03 of the
Trust Agreements. Notwithstanding the above, the Company and the rest of the shareholders that participated in the meetings
ratified the request (dated April 22, 2020) addressed to the Ministry of Productive Development by the Company together with
other shareholders of TMB and TSM for the implementation of the share concentration scheme foreseen in the “Agreement
for the Management and Operation of Projects, Increase in Thermoelectric Generation and Adaptation of the 2008-2011
Generation Remuneration”, and established a reserve for the damage claim actions in case such request was not accepted.
During November 2020, BICE, acting as trustee, confirmed fulfillment of the suspensive condition mentioned above, upon
valid performance of the corporate acts for the inclusion of the Argentine national government in the equity of TMB and TSM.
Consequently, the Group holdings were reduced from 25.6% to 8.59% for the Manuel Belgrano Thermal Power Plant and 25.6%
to 7.7% for the San Martín Thermal Power Plant.
Finally, on March 18, 2021, the Ministry of Energy notified TMB and TSM of the subscription of the shares resulting from the
capital increase in both companies on behalf of the Argentine government. Consequently, the Trusts must transfer the trust
assets to TMB and TSM. This transfer is still in progress.
Central Vuelta Obligado (VOSA)
On March 20, 2018, CAMMESA enabled the commercial operations of the TGs and TV units in the Wholesale Electricity Market,
operating as a combined cycle of the Vuelta de Obligado Plant (VOSA), for up to 778,884 MW (net capacity). On February 7,
2019, VOSA entered into a Supply Contract, Operations Contract, and Management Contract, as well as pledge and assignment
as collateral contracts, with CAMMESA. From March 2019, the companies have been collecting monthly payments. As of
December 31, 2021, the companies have collected 44 of the 120 installments agreed in the contracts.
The outstanding balance as of December 31, 2021 amounts to ThUS$ 270,945 (ThUS$ 311,875 as of December 31, 2020). The
542
Integrated Annual Report Enel Américas 2021
breakdown by company is detailed as follows: (i) Enel Generación El Chocón S.A. amounting to ThUS$ 180,601 (ThUS$ 208,941
as of December 31, 2020), (ii) Central Dock Sud S.A. amounting to ThUS$ 72,566 (ThUS$ 82,438 as of December 31, 2020)
and (iii) Enel Generación Costanera S.A. amounting to ThUS$ 17,778 (ThUS$ 20,496 as of December 31, 2020) (See Note 9).
(ii) Edesur:
2019 Regulatory Agreement
On May 10, 2019, Edesur entered into an Obligations Regularization Agreement with the Secretariat of Energy, on behalf of the
Argentine State, which puts an end to the reciprocal claims arising during the transition period between 2006 and January 2017.
On one hand, Edesur agrees to: (i) credit penalties to customers within a period of 3 years, adjusted at the prevailing rate of the
Bank of the Argentine Nation (BNA); (ii) credit the fines contained in Appendix VIII of the 2006 Memorandum of Agreement, in up
to 14 biannual installments, recalculated up to the date of effective payment according to the average increase registered by the
own cost of distribution; (iii) based on the provisions of clause 5.4 of the Memorandum of Agreement, allocate the amounts of
penalties for regular quality measurements during the transition period, to make additional investments over those established
in the Integral Rate Review (RTI), which are intended to contribute to service improvement, reliability, and security. Moreover, new
conditions were agreed upon in relation to the consumption loans granted by CAMMESA. Meanwhile, the Argentine State offset,
in favor of Edesur, commercial debts with CAMMESA for energy purchases performed in the Wholesale Electricity Market (MEM)
prior to the effective date of the resolution issued by the National Electricity Regulatory Body (ENRE) No. 1/2016, and the Argentine
State’s debts generated in 2017 and 2018 related to consumption in settlements measured by community meters, between July
2017 and December 31, 2018, in the proportion established in the New Framework Agreement and its successive renewals, and
with the differences generated by the application of the maximum limit in the invoices issued to beneficiaries of the social rate.
Moreover, the Argentine State forgave the sanctions owed to the Public Administration (see Note 23).
The effects of this agreement generated a reduction in liabilities recorded in operating revenue for 2019 in the amount of
MARS 12,183 (approximately ThUS$ 203,433). As a result of the application of IAS 29 “Financial Reporting in Hyperinflationary
Economies,” these amounts at the year end of December 2019 amounted MARS 15,641 (approximately ThUS$ 261,185).
2020 Framework Agreement
The Province of Buenos Aires requested that the Argentine Ministry of Economy initiate a bid process to correct the situation related
to the electricity supply in low income neighborhoods between October 2017 and December 2020. On December 22, 2020, the
Argentine national government, through the Ministry of Economy and Secretariat of Energy, the National Electricity Regulatory Body
(ENRE), and the companies Edenor and Edesur, entered into an agreement to develop a mechanism to pay off debt corresponding
to the Framework Agreement for such period, while the companies assumed the commitment to allocate said funds to improve
electric service works and the status of the network supplying these neighborhoods with collective meters and other sensitive zones
in the concessions area, without implying that there would be an extension of downstream responsibility for those collective meters,
according to the applicable regulations. Through this agreement, during December 2020, ARS 1,500 million (ThUS $ 17,842) were
recognized and the related collection was perfected on January 15, 2021. During 2021, the Company advanced with the committed
works, while the monitoring and verification by the ENRE. On December 9, 2021, through Resolution SE No. 1199, the second
milestone was approved and, on December 29, 2021, MARS 500 (ThUS$ 4,869) were collected, which is disclosed in “Revenue from
the sale of energy”. As of the date of these financial statements, the amount related to the last milestone remains pending receipt.
Economic-financial situation
The Covid-19 pandemic and the extension of compulsory social isolation have triggered an economic recession in Argentina, which,
together with the continuity of the rate freeze and the fact that no economic compensation has been implemented for electricity
distributors through the present date, has led Edesur to negative working capital of ThARS$64,762,256 (ThUS$630,680), as of December
31, 2021. Based on an analysis of projected cash flow, the Company’s Management believes that Edesur will not have difficulty in
meeting its financial obligations as of December 31, 2021 and thereafter. The key assumptions used for this cash flow projection are
based on operating variables such as electricity demand, tariffs/subsidies, costs, collectability, debt renegotiation and macroeconomic
assumptions such as inflation, exchange and interest rates, and the probable results of negotiations with the authorities.
Edesur’s Management believes that actions taken by the Special Regime for Regularization of Obligations (DNU No. 40/2021),
Resolution No. 371/2021, the Transition Tariff Regime (2021 Budget Law and PEN Decree No.1020/2020) and the Final
Renegotiation Agreement will allow it to rebuild the economic and financial equation provided by the law and by the Concession
Agreement, thanks to joint work with the Argentine authorities that will allow companies to continue to provide essential
services such as electric energy distribution. For further details see Note 4.i.a, where the Argentine regulatory framework is
established (in the subheadings “Tariff reviews” and “Other regulatory aspects”).
Consolidated Financial Statements 543
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NOTE 35. Headcount
The Group personnel, including that of subsidiaries in the eight Latin American countries where the Group operates, is
distributed as follows as of December 31, 2021 and 2020:
Country
Argentina
Brazil
Colombia
Costa Rica
Chile
Guatemala
Panamá
Peru
Total
Average
País
Chile
Argentina
Brazil
Peru
Colombia
Total
Average
Managers
and key
executives
12-31-2021
Professionals
and
Technicians
Staff and others
31
65
41
5
8
9
21
29
209
199
Managers
and key
executives
8
35
51
35
39
168
170
1,883
5,613
2,218
18
46
85
35
960
10,858
10,943
2,150
3,192
-
11
3
-
38
-
5,394
5,638
12-31-2020
Professionals
and
Technicians
Staff and others
39
1,850
5,726
908
2,111
10,634
10,679
4
2,179
3,746
-
-
5,929
6,120
Total
4,064
8,870
2,259
34
57
94
94
989
16,461
16,780
Total
51
4,064
9,523
943
2,150
16,731
16,969
NOTE 36. Sanctions
The main sanctions received by Group companies are described below:
Subsidiaries
1. Enel Distribución Río S.A. (Formerly Ampla Energia e Serviços S.A. or “Ampla”)
Tax sanctions
− The Brazilian Tax Authority imposed a fine on Enel Distribución Rio after denying the authorization to offset federal taxes.
Individual fines have been imposed on the company for 50% of the compensation requested and denied by the Brazilian
Tax Authority. The company filed its administrative defenses against the fines and is awaiting a ruling. There are also late
penalties on federal tax offsets. The principal of the offset was accepted by the Brazilian Tax Authority, but it asserted
that there was a payment delay, resulting in the imposition of the fines. In December 2021 the company was successful
in overturning two of the fines, having paid the total amount of ThBRL 1,204 (ThUS$216). As of December 31, 2021, the
total amount involved in all other fines was ThBRL 12,337 (ThUS$ 2,215).
2. Enel Distribución Ceará S.A. (Formerly Companhia Energetica do Ceará or Coelce)
Tax sanctions
− The Brazilian Tax Authority imposed a fine on Enel Distribución Ceará after denying the authorization to offset federal
taxes. Individual fines have been imposed on the company for 50% of the compensation requested. The company filed
its administrative defenses against the fines and is awaiting a ruling. There are also late penalties on federal tax offsets.
The principal of the offset was accepted by the Brazilian Tax Authority, but it asserted that there was a payment delay,
resulting in the imposition of the fines. In December 2021 the company received two more fines for delay in the payment
544
Integrated Annual Report Enel Américas 2021
of service tax (Imposto sobre Serviços de Qualquer Natureza – ISS) from the Municipalities of Iguatu and Pereiro. As of
December 31, 2021, the total amount involved in all fines was ThBRL 1,958 (ThUS$ 351).
− In 2018, the Tax Authority of the State Treasury of Ceará imposed a fine of ThBRL 1,029 (ThUS$ 185) on Enel Distribución
Ceará for alleged non-compliance with tax rules related to obligations to issue and register transit invoices. The company
filed its administrative defenses against the fine and is awaiting a ruling.
Regulatory sanctions
− In 2021, the Brazilian National Electricity Regulatory Agency (ANEEL) imposed a fine of BRL 35.9 million on Enel Distribución
Ceará for non-compliances with maintenance and violations of quality indicators (SAIDI/SAIFI) for the year of 2020. The
company filed an appeal against the fine, which was accepted by ANEEL, reducing the value of the fine to the ThBRL
31,800 (ThUS$ 5,709). On November 23, 2021, the company’s administrative appeal was judged, and the fine was reduced.
As of December 31, 2021 the amount involved in the fine was ThBRL 26,500 (ThUS$ 4,759).
3. Enel Distribución Goiás (Formerly CELG Distribuição S.A)
Regulatory sanctions
− In 2016, the Brazilian National Electricity Regulatory Agency (ANEEL) imposed a fine of BRL 62 million on Enel Distribución
Goiás for failure to fulfill a sector obligation linked to the Account for the Development of Energy (Conta de Desenvolvimento
Energético or CDE). The company filed an appeal to reduce the fine to BRL 25 million. The company also posted a bond
and filed a lawsuit for the fine’s total nullification, which is still pending resolution. As of December 31, 2021, the amount
involved in the fine was ThBRL 41,645 (ThUS$ 7,476).
− In 2019, ANEEL imposed a fine of BRL 61 million on Enel Distribución Goiás for breaches of customer service and energy
supply quality indicators. The company filed an appeal against the fine, which was accepted by ANEEL, reducing the fine
from BRL 62 million to BRL 45 million. A new motion for reconsideration was filed, as a result of which ANEEL reduced the
fine amount to BRL 31 million. As of December 31, 2021, the amount involved in the fine was ThBRL 34,180 (ThUS$ 6,136).
− In 2020, the Agência Goiana de Regulação (AGR) imposed a fine of BRL 44 million (ThUS$ 7,899) on Enel Distribución Goiás
for breaches of maintenance and quality indicators (SAIDI/SAIFI). The company filed an appeal against the fine with ANEEL,
which was accepted by ANEEL, reducing the amount of the fine by BRL 1 million. A new motion for reconsideration was filed,
which is pending resolution. As of December 31, 2021, the amount involved in the fine was ThBRL 45,750 (ThUS$ 8,214).
4. Enel Distribución Sao Paulo (Formerly Eletropaulo)
Regulatory sanctions
− The Brazilian National Electricity Regulatory Agency (ANEEL) imposed a fine on Enel Distribución São Paulo for alleged
errors in the records of the company’s asset base. The company filed an appeal which was dismissed. The company filed
a lawsuit seeking the total nullification of the fine. The judge in the court of first instance issued a decision dismissing the
company’s claims. The company has filed an appeal with the Court of Justice (court of second instance), which is pending
resolution. There is an injunction in place, suspending all the effects of the fines. As of December 31, 2021 the amount
involved in the fines was ThBRL 190,120 (ThUS$ 34,132).
− ANEEL imposed a fine on Enel Distribución São Paulo for alleged formal inconsistencies of asset accounting records.
The company asserted that the errors have not generated any negative practical consequences for tariffs, and even less
for the service provided by the company. The company’s administrative appeal was dismissed, and the company filed
a lawsuit for the total nullification of the fine. On May 29, 2019, the judge in the court of first instance issued a decision
dismissing the company’s claims. The company filed an appeal with the Court of Justice (court of second instance) which
is pending resolution. As of December 31, 2021, the amount involved in the fines was ThBRL 94,200 (ThUS$ 16,912).
− In 2012, ANEEL imposed a fine on Enel Distribución São Paulo for alleged formal inconsistencies of records of consumer
supply quality indices, as well as the payment of compensation to customers for non-compliance with these indices. The
company filed its administrative defenses. In April 2020, the company filed a lawsuit with the court seeking nullification of
the fine and a decision was issued suspending all the effects of the fines. As of December 31, 2021 the amount involved
in the fines was ThBRL 30,770 (ThUS$ 5,524).
Consolidated Financial Statements 545
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− ANEEL imposed a fine on Enel Distribución São Paulo for non-compliance with consumer supply quality indices during
2013. The company filed its administrative defenses against the fine, which was decided unfavorably to the company. On
July 24, 2018, the company filed a lawsuit seeking the nullification of the fine. On October 8, 2021 the judge in the court
of first instance issued a decision dismissing the company’s claim. The company filed an appeal with the Court of Justice
(court of second instance) against such decision, which is pending resolution. There is an injunction in place suspending
all effects of the sanctions. As of December 31, 2021, the amount involved in the fines was ThBRL 70,530 (ThUS$ 12,662).
− ANEEL imposed a fine on Enel Distribución São Paulo for non-compliance with consumer supply quality indices during
2014. The company filed its administrative defenses against the fine, which was decided unfavorably to the company.
On July 31, 2018, the company filed a lawsuit seeking the nullification or reduction of the fine. On October 17, 2019, the
judge in the court of first instance denied the company’s request for nullification. The company filed an appeal with the
Court of Justice (court of second instance) against such decision, which is pending resolution. As of December 31, 2021,
the amount involved in the fines was ThBRL 35,970 (ThUS$ 6,457).
− ANEEL imposed a fine on Enel Distribución São Paulo for nonconformity in the Budgetary Liquidation process. The company
filed its administrative defenses against the fine, which was decided unfavorably to the company. The company filed a
lawsuit seeking the nullification or reduction of the fine. The first instance ruling was unfavorable to the company, which
filed an appeal with the Court of Justice (court of second instance) against such decision, which is pending resolution.
As of December 31, 2021, the amount involved in the fines was ThBRL 28,350 (ThUS$ 5,089).
− ANEEL imposed a fine on Enel Distribución São Paulo for nonconformity in the Budgetary Liquidation process. The
company filed its administrative defenses against the fine, which was decided unfavorably to the company. The company
filed a lawsuit seeking the nullification or reduction of the fine. The first instance ruling was favorable to the company.
ANEEL filed an appeal which is pending resolution. As of December 31, 2021, the amount involved in the fines was ThBRL
89,654 (ThUS$ 16,095).
− In July 2002, the Municipality of Jandira imposed a fine on Enel Distribución São Paulo for violation of municipal laws with
respect to the road network in the municipality. The company’s administrative defenses against the fines were decided
unfavorably to the company. The company filed a lawsuit seeking the nullification of the fine. The first instance ruling was
unfavorable to the company, which filed an appeal against it and succeeded having the decision reversed in its favor.
The Municipality of Jandira filed appeals with the Superior Court of Justice and the Federal Court of Justice. The Superior
Court of Justice dismissed the Municipality’s appeal. The Municipality of Jandira filed a subsequent appeal for review
by the panel of judges, who dismissed the appeal. The Municipality of Jandira filed a subsequent appeal to standardize
the internal ruling of the Superior Court of Justice. The reporting judge determined the suspension of the appeal until
the Superior Court of Justice decides the leading cases about the same matter. As of December 31, 2021 the amount
involved in the fines was ThBRL 30,100 (ThUS$ 5,404).
− The Municipality of Sao Paulo imposed a fine on Enel Distribución São Paulo for violation of municipal traffic laws involving
a restricted area of circulation. The company’s administrative defenses against the fines were decided unfavorably to the
company. In 2011, the company filed a lawsuit seeking the nullification of the fine. The first instance ruling was unfavorable
to the company, which filed an appeal, which is pending. As of December 31, 2021, the amount involved in the fines was
ThBRL 41,370 (ThUS$ 7,428).
− In February 2012, the Municipality of Itapevi imposed a fine on Enel Distribución São Paulo for violation of municipal laws
with respect to the road network in the municipality. The company’s administrative defenses against the fines were decided
unfavorably to the company. The company filed a lawsuit seeking the nullification of the fine. The first and second instance
rulings were unfavorable to the company, which filed appeals with the Superior Court of Justice and the Federal Supreme
Court, both of which were dismissed in August 2021. The City Council of the Municipality of Itapevi has filed a request for
payment of the amounts. In parallel, the Brazilian Association of Electric Energy Distributors (ABRADEE) filed a direct action
of unconstitutionality (ADIN) against the municipal legislation that created the fines and the Court of Justice of the State of
São Paulo suspended the effects of the municipal legislation by means of a preliminary injunction. The lawsuit is suspended
until a final decision on the ADIN. As of December 31, 2021, the amount involved in the fines was ThBRL 31,300 (ThUS$ 5,619).
Tax sanctions
− The Brazilian Tax Authority imposed a fine on Enel Distribución São Paulo after denying the authorization to offset federal
taxes. Individual fines have been imposed on the company for 50% of the compensation requested. The company filed
its administrative defense against the fines and is awaiting a ruling. As of December 31, 2021, the amount involved in the
fines was ThBRL 71,397 (ThUS$ 12,818).
546
Integrated Annual Report Enel Américas 2021
5. Apiacás Energia S.A.
Environmental sanctions
− On October 1, 2020, Apiacás Energia S.A. was notified of two sanctions imposed by the municipal environmental body
of Chapada dos Guimarães, in the State of Mato Grosso for alleged non-compliance with the obligation to release and
repopulate fry from the Casca II and Casca III hydroelectric plants. On October 21, 2020, the company filed its administrative
defense. In November 2021, the judicial collection of the fine was initiated before the settlement received by the Casca
III hydroelectric plant in the amount of ThBRL 53,810 (ThUS$9,661). As of December 31, 2021, the amount involved on
the two fines was ThBRL 92,250 (ThUS$16,562).
6. Enel Generación Perú S.A.A. (Formerly Edegel S.A.A.)
Tax sanctions
As of December 31, 2021, Enel Generación Perú S.A.A. has incurred the following tax fines:
− As part of a corporate tax audit procedure for the 1999 fiscal year, SUNAT issued Fine Resolution No. 0120020004919 to
the company by means of which it imposed a fine of ThPEN 2,077 (ThUS$520) by way of annual corporate income tax,
whose default interest as of the payment date amounted to ThPEN 10,502 (ThUS$ 2,629). The imposition of this penalty
is being challenged in the judicial courts.
− As part of a corporate tax audit procedure for the 2000 and 2001 fiscal years, SUNAT issued Fine Resolution No.
0120020008723 to the company by means of which it imposed a fine by way of annual corporate income tax for the year
2000. Considering several payments made and the reassessment made by SUNAT, to date, this penalty qualifies as probable
and amounts to ThPEN 3,915 (ThUS$ 980), and the default interest to date amounts to ThPEN 5,710 (ThUS$ 1,429). The
company is currently waiting for SUNAT to offset the amount of this tax debt against the credits recognized by the Tax Court.
− As part of an audit procedure for the Ad Valorem General Sales Tax (IGV) and Municipal Promotion Tax (IPM) on imports
for 2008 and 2009, SUNAT issued Division Resolution No. 0003X4100/2013-000440 to Banco Scotiabank del Perú (legal
owner of Central Santa Rosa under a finance lease agreement, whereby the company is responsible for all contingencies
arising therefrom), whereby a fine amounting to ThUS$ 2,974 was imposed (the customs fines were paid in U.S. dollars).
The imposition of this fine is being challenged in the judicial courts, for which ThPEN 5,832 (ThUS$ 1,459) had to be paid,
the default interest of which, to date, amounted to ThPEN 3,395 (ThUS$ 850). The full amount of the tax debt related to
the aforementioned fine was not paid, since part of it was barred by the statute of limitations.
7. Enel Perú S.A.C. (Formerly Generandes Perú)
Tax sanctions
As of December 31, 2021, Enel Perú had incurred the following tax fine:
− As part of an audit procedure for corporate tax and IGV for fiscal year 2000, SUNAT issued a Fine Resolution to the company
by means of which it imposed a fine of PEN 2,920,104 (ThUS$ 731) by way of annual corporate income tax and whose default
interest as of the payment date amounted to PEN 14,053,695 (ThUS$ 3,885). Similarly, SUNAT issued a Fine Resolution to
the company by means of which it imposed fines of ThPEN 1,772 (ThUS$ 518) for the improper application of the IGV for
the periods of April, June and October 2000, which total ThPEN 1,772 (ThUS$444), whose default interest as of the payment
date amounted to ThPEN 10,231 (ThUS$ 2,561). The imposition of these penalties is being challenged in the judicial courts.
8. Enel Generación Piura (Formerly EEPSA)
Tax sanctions
As of December 31, 2021, Enel Generación Piura has incurred the following tax fine:
− As part of a tax audit procedure for the IGV and IPM on imports for the 2011 fiscal year, SUNAT issued a Fine Resolution to
the company by means of which it imposed a penalty of ThPEN 6,868 (ThUS$ 1,719), whose current default interest to date
amounts to ThPEN 4,844 (ThUS$ 1,212). Note that the imposition of this penalty is being challenged in the judicial courts.
Consolidated Financial Statements 547
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− As part of the audit procedure for the IGV and IPM on imports for 2016, SUNAT issued Division Resolution No.
253-2020-SUNAT-323100 to Banco Scotiabank del Perú (legal owner of the Power Replacement Project of the Malacas
Power Station - Unit TG6, under a finance lease agreement, whereby the company is responsible for all contingencies
arising therefrom), whereby it imposed a fine amounting to ThPEN 4,552 (ThUS$ 1,140), which was paid with a 60%
reduction: (i) fine of ThPEN 1,821 (ThUS$ 456) ; and (ii) default interest of PEN 1,165,075 (ThUS$ 292), as of the date of
payment. The imposition of the aforementioned fine is being challenged before the Tax Court.
In relation to the sanctions described above, the Group has established provisions for ThUS$ 43,887 as of December 31, 2021
(see Note 24). There are other sanctions that also have associated provisions but they are not described in this note, since they
individually represent immaterial amounts. Management believes that the provisions recorded adequately cover the risks due
to penalties, Therefore, they do not expect additional liabilities to arise from those already registered.
NOTE 37. Environment
Environmental expenses for the years ended December 31, 2021, 2020 and 2019 are as follows:
Disbursing Company
Project Name
Environmental Description
Emgesa S.A. E.S.P.
El Quimbo Hydroelectric
Power Plant Project
Empresa Distribuidora Sur S.A. Polluting material
Monitoring & hydrometeorological studies
Law 99
Handling of Polluting Material
Pcbs Decommissioning
Nueva Esperanza
Environmental
Compensation
Prevention Activities
Environmental Studies
Waste Management
Under Law 1196 of 2008, Colombia adopted the Stockholm Convention and this
was regulated with the Ministry of the Environment’s Resolution 222 of December
15, 2011, recognizing the provision for the decommissioning of transformers
contaminated with PCBs.
Compensations included in Resolution 1061 and Agreement 017 of 2013 issued
by the Ministry of the Environment and the Autonomous Regional Corporation of
Cundinamarca, respectively, which approves the substitution of the protecting and
producing forestry reserve of the upper basin of the Bogota River, committing the
Company to undertaking a compensation and reforestation plan in the construction
zone of the Nueva Esperanza, Gran Sabana and share substations
Protection of environmental biodiversity, treatment of waste waters
Studies of environmental aspects
Studies of environmental aspects
Handling of hazardous waste
Environmental Monitoring
Protection of the air and climate, noise reduction, protection against radiation
Landscaping and Green
Areas
Legal Services
Mitigation and Restoration
Prevention Activities
Environmental Studies
Waste Management
Environmental Monitoring
Landscaping and Green
Areas
Prevention Activities
Environmental Studies
Waste Management
Maintaining green areas and small fauna
Legal Services
Protection and recovery of soil and water
Protection of environmental biodiversity, treatment of waste waters
Environmental aspect studies
Handling of hazardous waste
Protection of the air and climate, noise reduction
Maintaining green areas and small fauna
Protection of the air and climate, noise reduction, protection against radiation
Environmental aspect studies
Handling of hazardous waste
Environmental Monitoring
Protection of the air and climate, noise reduction, protection against radiation
Compañía Distribuidora
y Comercializadora de
Energía S.A.
Enel Generación Perú S.A.
Enel Generación Piura S.A.
Chinango S.A.C.
Total
548
Integrated Annual Report Enel Américas 2021
Project Status
Disbursement
Capitalized
Expense
disbursement
[Finished,
in progress]
In progress
In progress
In progress
amount
ThUS$
343
-
87
amount
ThUS$
Future
amount
ThUS$
Estimated
date of future
disbursement
ThUS$
12-31-22
4,268
12-31-22
12-31-2021
12-31-2020
Total
disbursements
Amount of
prior period
ThUS$
disbursement
343
4,268
87
480
4,221
74
In progress
272
267
5,623
12-31-27
5,896
7,716
In progress
84
82
2
240
12-31-22
324
391
-
-
-
-
-
-
-
-
-
-
334
52
189
172
79
3
-
38
40
31
52
43
33
5
17
-
-
-
-
-
-
-
-
amount
ThUS$
343
-
87
5
334
52
189
172
79
3
-
38
40
31
52
43
33
5
17
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
334
223
52
189
172
79
3
-
38
40
31
52
43
33
5
17
103
204
111
89
-
-
55
22
37
28
42
72
31
115
108
265
-
2,139
349
265
1,790
10,131
-
14,122
265
12,271
Disbursing Company
Project Name
Environmental Description
Emgesa S.A. E.S.P.
El Quimbo Hydroelectric
Power Plant Project
Empresa Distribuidora Sur S.A. Polluting material
Monitoring & hydrometeorological studies
Law 99
Handling of Polluting Material
Compañía Distribuidora
y Comercializadora de
Energía S.A.
Pcbs Decommissioning
Nueva Esperanza
Environmental
Compensation
Under Law 1196 of 2008, Colombia adopted the Stockholm Convention and this
was regulated with the Ministry of the Environment’s Resolution 222 of December
15, 2011, recognizing the provision for the decommissioning of transformers
contaminated with PCBs.
Compensations included in Resolution 1061 and Agreement 017 of 2013 issued
by the Ministry of the Environment and the Autonomous Regional Corporation of
Cundinamarca, respectively, which approves the substitution of the protecting and
producing forestry reserve of the upper basin of the Bogota River, committing the
Company to undertaking a compensation and reforestation plan in the construction
zone of the Nueva Esperanza, Gran Sabana and share substations
Protection of environmental biodiversity, treatment of waste waters
Prevention Activities
Studies of environmental aspects
Enel Generación Perú S.A.
Environmental Monitoring
Protection of the air and climate, noise reduction, protection against radiation
Mitigation and Restoration
Protection and recovery of soil and water
Protection of environmental biodiversity, treatment of waste waters
Studies of environmental aspects
Handling of hazardous waste
Maintaining green areas and small fauna
Legal Services
Environmental aspect studies
Handling of hazardous waste
Protection of the air and climate, noise reduction
Maintaining green areas and small fauna
Environmental Studies
Waste Management
Landscaping and Green
Areas
Legal Services
Prevention Activities
Environmental Studies
Waste Management
Environmental Monitoring
Landscaping and Green
Areas
Prevention Activities
Environmental Studies
Waste Management
Enel Generación Piura S.A.
Chinango S.A.C.
Total
Protection of the air and climate, noise reduction, protection against radiation
Environmental aspect studies
Handling of hazardous waste
Environmental Monitoring
Protection of the air and climate, noise reduction, protection against radiation
Project Status
[Finished,
in progress]
In progress
In progress
In progress
In progress
Disbursement
amount
ThUS$
Capitalized
amount
ThUS$
343
-
87
272
-
-
-
267
-
87
5
Expense
amount
ThUS$
343
Future
disbursement
amount
ThUS$
Estimated
date of future
disbursement
ThUS$
-
12-31-22
4,268
-
12-31-22
12-31-2021
12-31-2020
Total
disbursements
ThUS$
Amount of
prior period
disbursement
343
4,268
87
480
4,221
74
5,623
12-31-27
5,896
7,716
In progress
84
82
2
240
12-31-22
324
391
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
334
52
189
172
79
3
-
38
40
31
52
43
33
5
17
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
334
52
189
172
79
3
-
38
40
31
52
43
33
5
17
265
-
2,139
349
265
1,790
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
10,131
-
334
223
52
189
172
79
3
-
38
40
31
52
43
33
5
17
265
12,271
103
204
111
89
-
-
55
22
37
28
42
72
31
115
108
14,122
Consolidated Financial Statements 549
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Disbursing Company
Project Name
Environmental Description
Emgesa S.A. E.S.P.
Empresa
Distribuidora Sur S.A.
El Quimbo Hydroelectric
Power Plant Project
Monitoring & hydrometeorological studies
Others
Law 99
Polluting material
Handling of Polluting Material
Compañía Distribuidora
y Comercializadora de
Energía S.A.
Pcbs Decommissioning
Nueva Esperanza
Environmental
Compensation
Under Law 1196 of 2008, Colombia adopted the Stockholm Convention and this
was regulated with the Ministry of the Environment’s Resolution 222 of December
15, 2011, recognizing the provision for the decommissioning of transformers
contaminated with PCBs.
Compensations included in Resolution 1061 and Agreement 017 of 2013 issued
by the Ministry of the Environment and the Autonomous Regional Corporation of
Cundinamarca, respectively, which approves the substitution of the protecting and
producing forestry reserve of the upper basin of the Bogota River, committing the
Company to undertaking a compensation and reforestation plan in the construction
zone of the Nueva Esperanza, Gran Sabana and share substations
Prevention Activities
Protection of environmental biodiversity, treatment of waste waters
Studies of environmental aspects
Enel Generación Perú S.A.
Environmental Studies
Studies of environmental aspects
Waste Management
Handling of hazardous waste
Mitigation and Restoration
Protection and recovery of soil and water
Environmental Monitoring
Protection of the air and climate, noise reduction, protection against radiation
Landscaping and Green
Areas
Maintaining green areas and small fauna
Prevention Activities
Protection of environmental biodiversity, treatment of waste waters
Enel Generación Piura S.A.
Environmental Studies
Environmental aspect studies
Waste Management
Handling of hazardous waste
Environmental Monitoring
Protection of the air and climate, noise reduction
Landscaping and Green
Areas
Maintaining green areas and small fauna
Environmental Studies
Environmental aspect studies
Waste Management
Handling of hazardous waste
Chinango S.A.C.
Environmental Monitoring
Protection of the air and climate, noise reduction, protection against radiation
Mitigations & Restorations
Protection and Recovery of Soil and Water
Environmental monitoring
Air and climate protection, noise reduction, radiation protection
Total
Project Status
Disbursement
Capitalized
12-31-2020
amount
ThUS$
Expense amount
ThUS$
Future
disbursement
amount
ThUS$
Estimated
date of future
disbursement
ThUS$
-
-
4,221
12-31-22
disbursements
Total
ThUS$
480
276
4,221
74
7,716
2,341
2,180
5,375
12-31-27
83
83
-
309
12-31-22
392
[Finished,
in progress]
In progress
In progress
In progress
In progress
In progress
In progress
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
amount
ThUS$
480
276
-
74
223
103
204
6
111
89
55
22
37
28
42
72
31
115
7
108
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
480
276
-
74
161
223
103
204
6
111
89
55
22
37
28
42
72
31
115
7
108
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
222
103
204
6
111
89
55
22
37
28
42
72
31
115
7
108
4,506
2,263
2,243
9,905
-
14,411
550
Integrated Annual Report Enel Américas 2021
Disbursing Company
Project Name
Environmental Description
Monitoring & hydrometeorological studies
Emgesa S.A. E.S.P.
Empresa
Distribuidora Sur S.A.
El Quimbo Hydroelectric
Power Plant Project
Others
Law 99
Polluting material
Handling of Polluting Material
Compañía Distribuidora
y Comercializadora de
Energía S.A.
Pcbs Decommissioning
Nueva Esperanza
Environmental
Compensation
Prevention Activities
Under Law 1196 of 2008, Colombia adopted the Stockholm Convention and this
was regulated with the Ministry of the Environment’s Resolution 222 of December
15, 2011, recognizing the provision for the decommissioning of transformers
contaminated with PCBs.
Compensations included in Resolution 1061 and Agreement 017 of 2013 issued
by the Ministry of the Environment and the Autonomous Regional Corporation of
Cundinamarca, respectively, which approves the substitution of the protecting and
producing forestry reserve of the upper basin of the Bogota River, committing the
Company to undertaking a compensation and reforestation plan in the construction
zone of the Nueva Esperanza, Gran Sabana and share substations
Protection of environmental biodiversity, treatment of waste waters
Studies of environmental aspects
Enel Generación Perú S.A.
Environmental Studies
Studies of environmental aspects
Waste Management
Handling of hazardous waste
Mitigation and Restoration
Protection and recovery of soil and water
Environmental Monitoring
Protection of the air and climate, noise reduction, protection against radiation
Landscaping and Green
Areas
Maintaining green areas and small fauna
Prevention Activities
Protection of environmental biodiversity, treatment of waste waters
Enel Generación Piura S.A.
Environmental Studies
Environmental aspect studies
Waste Management
Handling of hazardous waste
Environmental Monitoring
Protection of the air and climate, noise reduction
Landscaping and Green
Areas
Maintaining green areas and small fauna
Environmental Studies
Environmental aspect studies
Waste Management
Handling of hazardous waste
Chinango S.A.C.
Environmental Monitoring
Protection of the air and climate, noise reduction, protection against radiation
Mitigations & Restorations
Protection and Recovery of Soil and Water
Environmental monitoring
Air and climate protection, noise reduction, radiation protection
Total
Project Status
[Finished,
in progress]
Disbursement
amount
ThUS$
Capitalized
amount
ThUS$
Expense amount
ThUS$
Future
disbursement
amount
ThUS$
Estimated
date of future
disbursement
ThUS$
Total
disbursements
ThUS$
12-31-2020
In progress
In progress
In progress
In progress
In progress
In progress
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
Finished
480
276
-
74
-
-
-
-
2,341
2,180
480
276
-
74
161
-
-
4,221
-
5,375
-
-
12-31-22
12-31-27
480
276
4,221
74
7,716
83
83
-
309
12-31-22
392
223
103
204
6
111
89
55
22
37
28
42
72
31
115
7
108
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
223
103
204
6
111
89
55
22
37
28
42
72
31
115
7
108
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
222
103
204
6
111
89
55
22
37
28
42
72
31
115
7
108
4,506
2,263
2,243
9,905
-
14,411
Consolidated Financial Statements 551
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Disbursing Company
Project Name
Environmental Description
Emgesa S.A. E.S.P.
Empresa Distribuidora
Sur S.A.
Central Hidroelectrica El
Quimbo
Project
Monitoring & hydrometeorological studies
Other
Law 99
Polluting material
Handling of Polluting Material
Compañía Distribuidora
y Comercializadora de
Energía S.A.
Pcbs Decommissioning
Nueva Esperanza
Environmental
Compensation
Under Law 1196 of 2008, Colombia adopted the Stockholm Convention and this
was regulated with the Ministry of the Environment’s Resolution 222 of December
15, 2011, recognizing the provision for the decommissioning of transformers
contaminated with PCBs.
Compensations included in Resolution 1061 and Agreement 017 of 2013 issued
by the Ministry of the Environment and the Autonomous Regional Corporation of
Cundinamarca, respectively, which approves the substitution of the protecting and
producing forestry reserve of the upper basin of the Bogota River, committing the
Company to undertaking a compensation and reforestation plan in the construction
zone of the Nueva Esperanza, Gran Sabana and share substations
Prevention Activities
Protection of environmental biodiversity, treatment of waste waters
Enel Generación Perú S.A.
Environmental Studies
Environmental aspect studies
Waste Management
Handling of hazardous waste
Mitigation and Restoration
Protection and recovery of soil and water
Environmental Monitoring
Protection of the air and climate, noise reduction, protection against radiation
Landscaping and Green
Areas
Maintaining green areas and small fauna
Prevention Activities
Protection of environmental biodiversity, treatment of waste waters
Enel Generación Piura S.A.
Waste Management
Handling of hazardous waste
Environmental Studies
Environmental aspect studies
Environmental Monitoring
Protection of the air and climate, noise reduction.
Landscaping and Green
Areas
Maintaining green areas and small fauna
Environmental Studies
Environmental aspect studies
Chinango S.A.C.
Waste Management
Handling of hazardous waste
Mitigation and Restoration
Protection and recovery of soil and water
Enel Distribución S.A.
Waste Management
Elimination of particles and other special waste
Environmental Monitoring
Protection of the air and climate, noise reduction, protection against radiation
Total
Project Status
Disbursement
Capitalized
Expense amount
disbursement
amount
ThUS$
amount
ThUS$
12-31-2019
ThUS$
522
208
-
133
Future
amount
ThUS$
Estimated
date of future
disbursement
ThUS$
4,588
12-31-2021
disbursements
Total
ThUS$
522
208
4,588
133
In progress
1,693
1,399
294
6,145
12-31-2027
7,838
In progress
203
189
15
105
12-31-2019
308
522
208
-
133
78
116
342
29
86
90
35
29
76
42
49
24
53
19
277
243
4,347
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
78
116
342
29
86
90
35
29
76
42
49
24
53
19
277
243
2,760
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
78
116
342
29
86
90
35
29
76
42
49
24
53
19
277
243
15,185
[Finished,
in progress]
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
Completed
1,588
10,838
552
Integrated Annual Report Enel Américas 2021
Disbursing Company
Project Name
Environmental Description
Emgesa S.A. E.S.P.
Empresa Distribuidora
Sur S.A.
Central Hidroelectrica El
Monitoring & hydrometeorological studies
Quimbo
Project
Other
Law 99
Polluting material
Handling of Polluting Material
Compañía Distribuidora
y Comercializadora de
Energía S.A.
Pcbs Decommissioning
Nueva Esperanza
Environmental
Compensation
Under Law 1196 of 2008, Colombia adopted the Stockholm Convention and this
was regulated with the Ministry of the Environment’s Resolution 222 of December
15, 2011, recognizing the provision for the decommissioning of transformers
contaminated with PCBs.
Compensations included in Resolution 1061 and Agreement 017 of 2013 issued
by the Ministry of the Environment and the Autonomous Regional Corporation of
Cundinamarca, respectively, which approves the substitution of the protecting and
producing forestry reserve of the upper basin of the Bogota River, committing the
Company to undertaking a compensation and reforestation plan in the construction
zone of the Nueva Esperanza, Gran Sabana and share substations
Prevention Activities
Protection of environmental biodiversity, treatment of waste waters
Enel Generación Perú S.A.
Environmental Studies
Environmental aspect studies
Waste Management
Handling of hazardous waste
Mitigation and Restoration
Protection and recovery of soil and water
Environmental Monitoring
Protection of the air and climate, noise reduction, protection against radiation
Landscaping and Green
Areas
Maintaining green areas and small fauna
Prevention Activities
Protection of environmental biodiversity, treatment of waste waters
Enel Generación Piura S.A.
Waste Management
Handling of hazardous waste
Environmental Studies
Environmental aspect studies
Environmental Monitoring
Protection of the air and climate, noise reduction.
Landscaping and Green
Areas
Maintaining green areas and small fauna
Environmental Studies
Environmental aspect studies
Chinango S.A.C.
Waste Management
Handling of hazardous waste
Mitigation and Restoration
Protection and recovery of soil and water
Enel Distribución S.A.
Waste Management
Elimination of particles and other special waste
Environmental Monitoring
Protection of the air and climate, noise reduction, protection against radiation
Total
12-31-2019
Project Status
[Finished,
in progress]
Disbursement
amount
ThUS$
Capitalized
amount
ThUS$
Expense amount
ThUS$
In progress
In progress
In progress
In progress
522
208
-
133
-
-
-
-
522
208
-
133
Future
disbursement
amount
ThUS$
Estimated
date of future
disbursement
ThUS$
Total
disbursements
ThUS$
-
-
-
-
4,588
12-31-2021
-
-
522
208
4,588
133
In progress
1,693
1,399
294
6,145
12-31-2027
7,838
In progress
203
189
15
105
12-31-2019
308
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
In progress
Completed
78
116
342
29
86
90
35
29
76
42
49
24
53
19
277
243
4,347
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,588
78
116
342
29
86
90
35
29
76
42
49
24
53
19
277
243
2,760
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
10,838
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
78
116
342
29
86
90
35
29
76
42
49
24
53
19
277
243
15,185
Consolidated Financial Statements 553
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
NOTE 38. Financial information on subsidiaries, summarized
As of and December 31, 2021, 2020 and 2019, summarized financial information of our main subsidiaries prepared under
IFRS is as follows:
Enel Argentina S.A.
Financial
Statements
Separate
Current
Assets
ThUS$
Non-
Current
Assets
ThUS$
Total Assets
ThUS$
Current
Liabilities
ThUS$
Non-
Current
Liabilities
ThUS$
Equity
ThUS$
6,684
464,053
470,737
234
-
470,503
Enel Generación Costanera S.A.
Separate
Enel Generación El Chocón S.A.
Separate
98,322
90,473
214,098
227,094
312,420
103,366
317,567
15,831
48,267
54,753
160,787
246,983
Total
Liabilities
and Equity
ThUS$
470,737
312,420
317,567
12-31-2021
Raw
Materials and
Consumables
Contribution
Operating
Operating
Financial
Used
ThUS$
(481)
Margin
ThUS$
(481)
Income
ThUS$
(2,376)
Results
ThUS$
(7,959)
Gross
Income
ThUS$
(2,321)
Income
Before
Taxes
ThUS$
40,593
Income
ThUS$
(1,167)
Taxes
Profit (Loss)
ThUS$
39,426
(4,698)
100,376
53,487
(85,458)
8,782
(75,119)
14,352
(60,767)
(3,787)
37,753
27,188
10,081
(26,108)
(15,000)
(5,414)
(20,414)
Other
Total
Comprehensive
Comprehensive
Empresa Distribuidora Sur S.A.
Enel Trading Argentina S.R.L
Dock Sud S.A.
Separate
Separate
Separate
272,120
1,887,184
2,159,304
902,066
558,266
698,972
2,159,304
793,771
(528,448)
265,323
22,631
(68,632)
28,590
(40,010)
(138,481)
(178,491)
(128,698)
(307,189)
15,049
1,585
16,634
134,881
165,382
300,263
13,676
15,407
-
2,958
16,634
26,196
258,660
300,263
(60)
1,553
(721)
(902)
(555)
(8,783)
70,854
55,096
23,190
(27,150)
(1,456)
(3,960)
-
(3,078)
(1,456)
(7,038)
Grupo Enel Argentina
Consolidated
258,643
751,345
1,009,988
117,486
103,021
789,481
1,009,988
146,282
(10,581)
135,701
76,676
(85,023)
(47,245)
(207,280)
6,960
(200,320)
Grupo EGP Brasil
Consolidated
317,994
3,656,821
3,974,815
627,146
592,180
2,755,489
3,974,815
538,380
(293,468)
244,912
199,332
134,891
(44,388)
90,507
(23,533)
66,974
367,175
434,149
Enel Generación Fortaleza S.A.
EGP Cachoeira Dourada S.A.
EGP Volta Grande
Enel Cien S.A.
Compañía de Transmisión del
Mercosur S.A.
Separate
Separate
Separate
Separate
Separate
107,101
118,995
226,096
262,713
112,859
375,572
27,698
27,289
2,554
275,045
302,743
126,169
153,458
3,857
6,411
Transportadora de Energía S.A.
Separate
1,984
5,955
7,939
63,916
247,881
28,297
15,518
170
273
254
161,926
226,096
326,889
(209,590)
117,299
107,714
97,079
1,848
98,927
(32,524)
66,403
47,416
80,275
134,477
139,969
239
4,605
137,701
1,636
375,572
302,743
153,458
6,411
1,428,553
(1,351,052)
77,501
64,205
51,686
(43,147)
8,539
(3,077)
(13,624)
67,432
63,608
63,458
(19,344)
44,114
(14,116)
(14)
54,605
47,255
41,826
926
42,752
(14,113)
481
(56)
(560)
3,838
3,277
(4,373)
(1,096)
149
7,517
7,939
487
(109)
(1,980)
2,818
838
751
-
-
Enel Distribución Ceará S.A.
Enel Distribución Rio S.A.
Enel Distribución Goiás S.A.
Enel X Brasil S.A.
Separate
Separate
Separate
Separate
709,815
1,396,726
2,106,541
649,178
805,148
652,215
2,106,541
1,511,849
(1,099,328)
412,521
280,045
168,549
(49,867)
119,092
(27,906)
780,471
2,205,682
2,986,153
1,045,797
1,255,747
684,609
2,986,153
1,581,080
(1,147,521)
433,559
282,304
98,040
(78,981)
19,179
(3,027)
870,735
2,613,350
3,484,085
1,182,729
1,239,900
1,061,456
3,484,085
1,820,216
(1,468,987)
351,229
162,818
55,439
(83,657)
(27,959)
5,999
(21,960)
41,242
36,962
78,204
32,759
771
44,674
78,204
17,471
(5,925)
11,546
(2,806)
(2,920)
51
(2,869)
3,427
558
Enel Distribuicao Sao Paulo S.A.
Separate
1,680,174
4,994,713
6,674,887
1,604,168
3,972,867
1,097,852
6,674,887
3,848,367
(2,857,634)
990,733
706,896
431,456
(156,850)
274,607
(77,987)
196,620
Grupo Enel Brasil
Emgesa S.A. E.S.P.
Compañía Distribuidora y
Comercializadora de Energía S.A.
Enel Perú S.A.C.
Enel Generación Perú S.A.
Chinango S.A.C.
Enel Generación Piura S.A.
Enel Distribución Perú S.A.
Consolidated
4,810,195
16,362,724
21,172,919
4,981,114
8,554,845
7,636,960
21,172,919
10,970,586
(8,316,744)
2,653,842
1,791,111
1,061,569
(430,128)
631,964
(167,187)
464,777
(459,066)
Separate
Separate
Separate
Separate
Separate
Separate
Separate
163,479
2,056,524
2,220,003
371,669
595,042
1,253,292
2,220,003
1,262,495
(409,074)
853,421
788,778
721,673
(47,100)
674,639
(217,507)
457,132
420,427
1,811,019
2,231,446
550,502
887,338
793,606
2,231,446
1,706,529
(1,011,914)
694,615
554,576
418,138
(54,584)
364,128
(107,270)
256,858
38,474
1,074,700
1,113,174
160,808
-
952,366
1,113,174
-
-
-
(547)
(2,505)
(2,646)
208,633
(161)
208,472
193,318
836,620
1,029,938
202,454
212,314
615,170
1,029,938
430,578
(150,735)
279,843
223,756
185,249
5,025
205,952
(58,121)
11,011
41,703
131,687
142,698
149,223
190,926
5,229
23,527
36,288
60,834
101,181
106,565
142,698
190,926
(4,837)
42,090
37,273
33,863
86
33,949
(23,569)
50,673
41,269
31,196
(5,315)
25,881
(9,990)
(8,109)
208,451
1,237,600
1,446,051
315,498
435,640
694,913
1,446,051
895,367
(604,987)
290,380
218,993
154,164
(21,604)
132,586
(47,413)
Grupo Enel Perú
Consolidated
457,824
2,284,464
2,742,288
679,706
732,624
1,329,958
2,742,288
1,286,952
(651,370)
635,582
500,382
381,992
(24,677)
357,340
(117,996)
239,344
Enel Green Power Colombia S.A.S
Esp
Separate
28,486
381,808
410,294
77,666
18,672
313,956
410,294
27,902
(23,733)
4,169
(1,721)
(4,324)
2,393
(1,932)
1,272
(659)
Revenue
ThUS$
-
105,074
41,540
1,613
79,637
81,056
54,619
481
487
46,927
74,242
2,955
14,513
48,821
12,300
1,300
3,388
2,196
426
268
1,045
10,507
6,455
(2,974)
-
-
(41,766)
2,955
14,513
7,055
(1,345)
10,955
70
1,370
(361)
(51)
3,027
2,145
1,088
8,034
(139)
1,776
1,693
833
7,072
(576)
1,250
1,112
39,604
(6,986)
32,618
25,188
18,715
4,921
(484)
4,437
1,756
1,409
135,202
(19,318)
115,884
102,333
92,745
7,461
33,000
(734)
6,727
5,389
2,487
(2,906)
30,093
21,361
12,338
1,313
3,481
732
6,888
(645)
18,743
1,284
1,104
(67)
(56)
(207)
(906)
(238)
(543)
(223)
(158)
33,162
(3,259)
93,712
(27,055)
1,104
7,187
(309)
(7,755)
(149)
(191)
(76)
(2)
21
(7)
529
967
(1,383)
(5,151)
Income
ThUS$
2,367
(32,536)
(44,420)
(647)
(37,686)
(133,351)
(7,431)
(4,088)
(8,874)
(8,636)
(399)
(884)
(41,696)
(37,703)
(71,438)
(2,239)
(107,521)
(228,708)
(136,905)
(73,523)
(56,161)
(7,626)
(8,218)
(64,160)
(112,424)
(6,118)
-
-
-
-
-
-
-
-
-
-
-
(810)
Income
ThUS$
41,793
(93,303)
(64,834)
(2,103)
(44,724)
(333,671)
58,972
1,374
21,124
20,003
(1,495)
705
49,490
(21,551)
(93,398)
(1,681)
89,099
5,711
228,424
119,953
134,949
91,670
16,333
9,554
21,013
126,920
(6,778)
1,246
3,425
525
5,982
(883)
18,200
1,061
946
29,903
66,657
795
(1,377)
5,462
29,998
28,639
1,589
91,186
16,152
147,831
23,959
17,772
85,173
1,246
3,425
525
5,982
(883)
18,200
1,061
946
29,903
66,657
795
(568)
PH Chucas S.A.
Separate
Enel Green Power Guatemala S.A.
Separate
Generadora de Occidente Ltda.
Separate
Generadora Montecristo S.A.
Separate
Renovables de Guatemala S.A.
Separate
Tecnoguat S.A.
Transmisora de Energia Renovable
S.A.
Enel Green Power Panama S.A.
Enel Fortuna S.A.
Enel Solar S.R.L
Enel Green Power Peru S.A.
Separate
Separate
Separate
Separate
Separate
Separate
181,759
216,064
397,823
138,733
176,198
367,868
544,066
2,732
68,919
71,651
123,483
380,781
504,264
17,879
53,048
71,765
152,740
174,330
11,556
83,435
112,058
372,514
17,531
37,527
6,100
83,123
12,253
1,380
80,495
3,688
429
640
6,621
9,331
47,367
92,338
46,489
1,071
15,522
167,709
2,225
36,068
19,720
326,025
16,460
22,005
254
3,056
9,287
-
-
-
33,765
39,805
3,230
225,325
397,823
486,382
544,066
15,373
71,651
152,740
174,330
11,556
83,435
112,058
372,514
17,531
37,527
(951)
78,999
22,276
368,826
17,102
36,887
Enel Green Power Costa Rica S.A.
Separate
44,186
108,554
-
146,640
55,985
35,222
176,945
255,554
504,264
554
Integrated Annual Report Enel Américas 2021
Enel Argentina S.A.
6,684
464,053
470,737
234
-
470,503
-
(481)
(481)
(2,321)
(2,376)
(7,959)
12-31-2021
Raw
Materials and
Consumables
Used
ThUS$
Revenue
ThUS$
Contribution
Margin
ThUS$
Gross
Operating
Income
ThUS$
Operating
Income
ThUS$
Financial
Results
ThUS$
Income
Before
Taxes
ThUS$
40,593
Income
Taxes
ThUS$
(1,167)
Profit (Loss)
ThUS$
39,426
Enel Generación Costanera S.A.
Separate
Enel Generación El Chocón S.A.
Separate
98,322
90,473
214,098
227,094
312,420
103,366
317,567
15,831
48,267
54,753
160,787
246,983
105,074
41,540
(4,698)
100,376
53,487
(85,458)
8,782
(75,119)
14,352
(60,767)
(3,787)
37,753
27,188
10,081
(26,108)
(15,000)
(5,414)
(20,414)
Other
Comprehensive
Income
ThUS$
Total
Comprehensive
Income
ThUS$
2,367
(32,536)
(44,420)
41,793
(93,303)
(64,834)
272,120
1,887,184
2,159,304
902,066
558,266
698,972
2,159,304
793,771
(528,448)
265,323
22,631
(68,632)
28,590
(40,010)
(138,481)
(178,491)
(128,698)
(307,189)
Grupo Enel Argentina
Consolidated
258,643
751,345
1,009,988
117,486
103,021
789,481
1,009,988
146,282
(10,581)
135,701
76,676
(85,023)
(47,245)
(207,280)
6,960
(200,320)
15,049
1,585
16,634
-
2,958
16,634
134,881
165,382
300,263
26,196
258,660
300,263
1,613
79,637
(60)
1,553
(721)
(902)
(555)
(8,783)
70,854
55,096
23,190
(27,150)
(1,456)
(3,960)
-
(3,078)
(1,456)
(7,038)
(647)
(37,686)
(133,351)
(2,103)
(44,724)
(333,671)
Grupo EGP Brasil
Consolidated
317,994
3,656,821
3,974,815
627,146
592,180
2,755,489
3,974,815
538,380
(293,468)
244,912
199,332
134,891
(44,388)
90,507
(23,533)
66,974
367,175
434,149
107,101
118,995
226,096
254
161,926
226,096
326,889
(209,590)
117,299
107,714
97,079
1,848
98,927
(32,524)
66,403
709,815
1,396,726
2,106,541
649,178
805,148
652,215
2,106,541
1,511,849
(1,099,328)
412,521
280,045
168,549
(49,867)
119,092
(27,906)
780,471
2,205,682
2,986,153
1,045,797
1,255,747
684,609
2,986,153
1,581,080
(1,147,521)
433,559
282,304
98,040
(78,981)
19,179
(3,027)
1,428,553
(1,351,052)
77,501
64,205
51,686
(43,147)
8,539
(3,077)
(13,624)
67,432
63,608
63,458
(19,344)
44,114
(14,116)
(14)
54,605
47,255
41,826
926
42,752
(14,113)
481
(56)
(560)
3,838
3,277
(4,373)
(1,096)
487
(109)
(1,980)
2,818
838
751
81,056
54,619
481
487
-
-
5,462
29,998
28,639
1,589
91,186
16,152
Enel Distribuicao Sao Paulo S.A.
Separate
1,680,174
4,994,713
6,674,887
1,604,168
3,972,867
1,097,852
6,674,887
3,848,367
(2,857,634)
990,733
706,896
431,456
(156,850)
274,607
(77,987)
196,620
870,735
2,613,350
3,484,085
1,182,729
1,239,900
1,061,456
3,484,085
1,820,216
(1,468,987)
351,229
162,818
55,439
(83,657)
(27,959)
5,999
(21,960)
41,242
36,962
78,204
32,759
771
44,674
78,204
17,471
(5,925)
11,546
(2,806)
(2,920)
51
(2,869)
3,427
558
Current
Assets
ThUS$
Non-
Current
Assets
ThUS$
Total Assets
ThUS$
Current
Liabilities
ThUS$
Non-
Current
Liabilities
ThUS$
Equity
ThUS$
Total
Liabilities
and Equity
ThUS$
470,737
312,420
317,567
262,713
112,859
375,572
27,698
27,289
2,554
275,045
302,743
126,169
153,458
3,857
6,411
47,416
80,275
134,477
139,969
239
4,605
137,701
1,636
375,572
302,743
153,458
6,411
Transportadora de Energía S.A.
Separate
1,984
5,955
7,939
149
7,517
7,939
13,676
15,407
63,916
247,881
28,297
15,518
170
273
Financial
Statements
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Empresa Distribuidora Sur S.A.
Enel Trading Argentina S.R.L
Dock Sud S.A.
Enel Generación Fortaleza S.A.
EGP Cachoeira Dourada S.A.
EGP Volta Grande
Enel Cien S.A.
Compañía de Transmisión del
Mercosur S.A.
Enel Distribución Ceará S.A.
Enel Distribución Rio S.A.
Enel Distribución Goiás S.A.
Enel X Brasil S.A.
Grupo Enel Brasil
Emgesa S.A. E.S.P.
Compañía Distribuidora y
Comercializadora de Energía S.A.
Enel Perú S.A.C.
Enel Generación Perú S.A.
Chinango S.A.C.
Enel Generación Piura S.A.
Enel Distribución Perú S.A.
Esp
Enel Green Power Costa Rica S.A.
Separate
44,186
108,554
PH Chucas S.A.
Separate
Enel Green Power Guatemala S.A.
Separate
Generadora de Occidente Ltda.
Separate
Generadora Montecristo S.A.
Separate
Renovables de Guatemala S.A.
Separate
Tecnoguat S.A.
Separate
Transmisora de Energia Renovable
Separate
S.A.
6,621
9,331
47,367
92,338
46,489
1,071
15,522
167,709
2,225
36,068
19,720
326,025
16,460
22,005
152,740
174,330
11,556
83,435
112,058
372,514
17,531
37,527
6,100
83,123
12,253
1,380
80,495
3,688
429
640
17,879
53,048
71,765
-
146,640
55,985
35,222
152,740
174,330
11,556
83,435
112,058
372,514
17,531
37,527
(951)
78,999
22,276
368,826
17,102
36,887
254
3,056
9,287
-
-
-
33,765
39,805
3,230
Enel Green Power Panama S.A.
181,759
216,064
397,823
138,733
Enel Fortuna S.A.
Enel Solar S.R.L
176,198
367,868
544,066
2,732
68,919
71,651
225,325
397,823
486,382
544,066
15,373
71,651
Enel Green Power Peru S.A.
123,483
380,781
504,264
176,945
255,554
504,264
Separate
Separate
Separate
Separate
163,479
2,056,524
2,220,003
371,669
595,042
1,253,292
2,220,003
1,262,495
(409,074)
853,421
788,778
721,673
(47,100)
674,639
(217,507)
457,132
420,427
1,811,019
2,231,446
550,502
887,338
793,606
2,231,446
1,706,529
(1,011,914)
694,615
554,576
418,138
(54,584)
364,128
(107,270)
256,858
38,474
1,074,700
1,113,174
160,808
-
952,366
1,113,174
-
-
-
(547)
(2,505)
(2,646)
208,633
(161)
208,472
193,318
836,620
1,029,938
202,454
212,314
615,170
1,029,938
430,578
(150,735)
279,843
223,756
185,249
5,025
205,952
(58,121)
11,011
41,703
131,687
142,698
149,223
190,926
5,229
23,527
36,288
60,834
101,181
106,565
142,698
190,926
46,927
74,242
(4,837)
42,090
37,273
33,863
86
33,949
(23,569)
50,673
41,269
31,196
(5,315)
25,881
(9,990)
(8,109)
208,451
1,237,600
1,446,051
315,498
435,640
694,913
1,446,051
895,367
(604,987)
290,380
218,993
154,164
(21,604)
132,586
(47,413)
147,831
23,959
17,772
85,173
Grupo Enel Perú
Consolidated
457,824
2,284,464
2,742,288
679,706
732,624
1,329,958
2,742,288
1,286,952
(651,370)
635,582
500,382
381,992
(24,677)
357,340
(117,996)
239,344
Enel Green Power Colombia S.A.S
Separate
28,486
381,808
410,294
77,666
18,672
313,956
410,294
27,902
(23,733)
4,169
(1,721)
(4,324)
2,393
(1,932)
1,272
(659)
2,955
14,513
48,821
12,300
1,300
-
-
(41,766)
2,955
14,513
7,055
(1,345)
10,955
70
1,370
426
268
1,045
10,507
6,455
(2,974)
1,088
8,034
(139)
833
7,072
(576)
39,604
(6,986)
32,618
25,188
18,715
3,388
2,196
(361)
(51)
3,027
2,145
1,776
1,693
1,250
1,112
4,921
(484)
4,437
1,756
1,409
135,202
(19,318)
115,884
102,333
92,745
7,461
33,000
(734)
6,727
5,389
2,487
(2,906)
30,093
21,361
12,338
1,313
3,481
732
6,888
(645)
18,743
1,284
1,104
(67)
(56)
(207)
(906)
(238)
(543)
(223)
(158)
33,162
(3,259)
93,712
(27,055)
1,104
7,187
(309)
(7,755)
1,246
3,425
525
5,982
(883)
18,200
1,061
946
29,903
66,657
795
(568)
(149)
(191)
(76)
(2)
21
(7)
529
967
(1,383)
(5,151)
(7,431)
(4,088)
(8,874)
(8,636)
(399)
(884)
(41,696)
(37,703)
(71,438)
(2,239)
(107,521)
(228,708)
(136,905)
(73,523)
(56,161)
(7,626)
(8,218)
(64,160)
(112,424)
(6,118)
-
-
-
-
-
-
-
-
-
-
-
(810)
58,972
1,374
21,124
20,003
(1,495)
705
49,490
(21,551)
(93,398)
(1,681)
89,099
5,711
228,424
119,953
134,949
91,670
16,333
9,554
21,013
126,920
(6,778)
1,246
3,425
525
5,982
(883)
18,200
1,061
946
29,903
66,657
795
(1,377)
Consolidated
4,810,195
16,362,724
21,172,919
4,981,114
8,554,845
7,636,960
21,172,919
10,970,586
(8,316,744)
2,653,842
1,791,111
1,061,569
(430,128)
631,964
(167,187)
464,777
(459,066)
Consolidated Financial Statements 555
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Grupo Enel Argentina
Consolidated
312,760
841,974
1,154,734
124,270
12,882
97,880
1,263
172,641
14,145
270,521
10,573
10,749
-
3,572
14,145
28,575
115,750
231,197
270,521
914,714
1,154,734
Enel Argentina S.A.
Financial
Statements
Separate
Enel Generación Costanera S.A.
Separate
Enel Generación El Chocón S.A.
Separate
Empresa Distribuidora Sur S.A.
Enel Trading Argentina S.R.L
Dock Sud S.A.
Separate
Separate
Separate
Enel Brasil S.A.
Enel Generación Fortaleza S.A.
EGP Cachoeira Dourada S.A.
EGP Volta Grande
Enel Cien S.A.
Compañía de Transmisión del
Mercosur S.A.
Separate
Separate
Separate
Separate
Separate
Separate
Current
Assets
ThUS$
40,432
96,321
91,441
Non-
Current
Assets
ThUS$
65,563
253,484
268,572
Total Assets
ThUS$
105,995
349,805
360,013
Current
Liabilities
ThUS$
1,293
96,132
30,857
Non-
Current
Liabilities
ThUS$
-
74,375
43,537
Total
Liabilities
and Equity
ThUS$
105,995
349,805
360,013
Equity
ThUS$
104,702
179,298
285,619
274,169
1,442,360
1,716,529
591,523
415,191
709,815
1,716,529
801,229
(530,338)
49,912
(68,276)
22,605
(45,636)
(22,866)
(68,502)
12-31-2020
Raw
Materials and
Consumables
Contribution
Operating
Operating
Financial
Other
Total
Comprehensive
Comprehensive
Gross
Income
ThUS$
(2,459)
60,965
35,964
706
42,590
92,860
Margin
ThUS$
(600)
107,968
43,962
270,891
2,897
56,309
149,521
Income
ThUS$
(2,459)
18,811
21,800
414
14,445
36,542
Results
ThUS$
11,264
(9,445)
37,910
(130)
3,472
61,778
Revenue
ThUS$
-
112,931
48,505
3,086
66,334
161,093
502
62,398
52,705
45,439
37,973
Used
ThUS$
(600)
(4,963)
(4,543)
(189)
(10,025)
(11,572)
(139)
(10,548)
(83,694)
-
-
Income
Before
Taxes
ThUS$
12,146
9,497
62,211
284
17,968
71,522
22,450
70,014
16,145
Income
Taxes
ThUS$
874
7,928
(9,332)
(103)
(13,426)
1,130
7,275
(996)
801
(18,464)
(5,706)
Profit
(Loss)
ThUS$
13,020
17,425
52,879
181
4,542
72,652
31,027
81,994
24,214
(14,337)
26,201
23,251
51,550
10,439
26,077
(7,747)
19,080
11,397
77,939
Income
ThUS$
(37,029)
(47,631)
(66,592)
(230,171)
(1,006)
(68,182)
(258,557)
(31,881)
(15,502)
(32,034)
(48,724)
14,795
(178,829)
(229,670)
(306,258)
(4,323)
(19,348)
(14,970)
(96,339)
(66,777)
(8,334)
(12,361)
(62,468)
Income
ThUS$
(24,009)
(30,206)
(13,713)
(298,673)
(825)
(63,640)
(185,905)
(883,893)
(854)
66,492
(7,820)
(63,061)
40,996
(127,279)
(219,231)
(280,181)
(12,070)
(498,712)
328,218
213,126
59,799
77,988
10,746
(964)
15,471
567,492
4,484,221
5,051,713
344,060
225,338
4,482,315
5,051,713
363
(41,809)
(42,724)
(127,544)
168,090
36,441
204,531
(1,088,424)
76,390
584,030
31,525
31,496
2,554
133,672
130,285
274,019
141,069
10,089
210,062
714,315
305,544
172,565
12,643
52,283
563,242
31,433
17,527
10,443
19,535
20,520
138,557
407
-
482
138,244
130,553
135,554
154,631
210,062
714,315
305,544
172,565
2,200
12,643
4,877
13,849
187,227
(118,673)
68,554
61,986
51,176
(521)
50,655
(19,628)
812,275
(666,295)
145,980
134,715
129,601
(6,103)
123,498
(41,504)
51,850
48,505
48,484
(11,785)
36,700
(12,486)
(30,989)
(37,406)
(45,046)
23,435
(21,612)
45,439
44,911
44,472
(17,275)
27,197
37,973
37,284
35,806
(13,356)
15,236
38,487
Transportadora de Energía S.A.
Separate
2,144
11,705
13,849
8,490
Enel Distribución Ceará S.A.
Enel Distribución Rio S.A.
Enel Distribución Goiás S.A.
Enel X Brasil S.A.
Separate
Separate
Separate
Separate
575,851
1,322,709
1,898,560
589,631
651,669
657,260
1,898,560
1,166,240
(835,325)
330,915
191,873
98,900
(29,125)
705,578
1,588,563
2,294,141
574,409
1,011,309
708,423
2,294,141
1,253,027
(869,354)
383,673
231,938
566,168
2,032,002
2,598,170
925,334
517,983
1,154,853
2,598,170
1,394,049
(1,026,859)
367,190
169,277
19,617
22,477
42,094
20,560
583
20,951
42,094
13,357
(4,454)
8,903
(3,705)
94,515
85,106
(6,711)
(78,528)
(42,774)
(2,009)
42,806
(16,729)
(8,720)
973
Enel Distribuicao Sao Paulo S.A.
Separate
1,515,162
5,198,704
6,713,866
1,614,149
3,852,132
1,247,585
6,713,866
3,020,740
(2,206,107)
814,633
592,998
374,091
(116,943)
257,148
(77,974)
179,174
(677,886)
Grupo Enel Brasil
Emgesa S.A. E.S.P.
Compañía Distribuidora y
Comercializadora de Energía S.A.
Enel Perú S.A.C.
Enel Generación Perú S.A.A.
Chinango S.A.C.
Enel Generación Piura S.A.
Enel Distribución Perú S.A.A.
Consolidated
4,143,213
11,396,553
15,539,766
4,211,671
6,169,465
5,158,630
15,539,766
7,680,106
(5,450,909)
2,229,197
1,436,985
873,753
(420,461)
454,162
(148,157)
306,005
(1,678,028)
(1,372,023)
Separate
Separate
Separate
Separate
Separate
Separate
Separate
353,946
2,420,483
2,774,429
499,983
1,973,507
2,473,490
34,757
1,288,805
1,323,562
315,244
880,207
1,195,451
8,892
60,425
131,158
164,399
140,050
224,824
570,718
640,774
180,490
191,039
7,061
58,135
697,179
1,506,532
2,774,429
840,051
992,665
2,473,490
10,990
1,132,082
1,323,562
208,495
795,917
1,195,451
26,392
24,746
106,597
141,943
140,050
224,824
1,159,134
(412,530)
746,604
673,446
606,868
(70,522)
536,449
(188,883)
347,566
1,546,963
(886,155)
660,808
506,794
375,127
(49,171)
325,977
(97,881)
228,096
-
-
-
(215)
(215)
156,138
-
156,138
408,604
(140,350)
268,254
210,702
162,140
186,817
(42,052)
144,765
41,000
63,874
(4,496)
(23,435)
36,504
40,439
31,273
30,016
27,319
18,512
27,232
17,249
(8,152)
(5,852)
(6,072)
10,361
(87)
(4,873)
191,178
1,263,496
1,454,674
249,068
471,377
734,229
1,454,674
886,663
(598,157)
288,506
213,898
141,464
(25,042)
116,427
(38,488)
Grupo Enel Perú
Consolidated
546,260
2,382,886
2,929,146
627,532
734,466
1,567,148
2,929,146
1,243,994
(621,907)
622,087
475,905
339,421
(26,007)
317,029
(91,896)
225,133
(246,279)
(21,146)
556
Integrated Annual Report Enel Américas 2021
12-31-2020
Contribution
Margin
ThUS$
(600)
107,968
43,962
270,891
2,897
56,309
149,521
Gross
Operating
Income
ThUS$
(2,459)
60,965
35,964
Operating
Income
ThUS$
Financial
Results
ThUS$
(2,459)
18,811
21,800
11,264
(9,445)
37,910
Income
Before
Taxes
ThUS$
12,146
9,497
62,211
Income
Taxes
ThUS$
874
7,928
(9,332)
Profit
(Loss)
ThUS$
13,020
17,425
52,879
49,912
(68,276)
22,605
(45,636)
(22,866)
(68,502)
706
42,590
92,860
414
14,445
36,542
(130)
3,472
61,778
284
17,968
71,522
(103)
(13,426)
1,130
181
4,542
72,652
363
(41,809)
(42,724)
(127,544)
168,090
36,441
204,531
(1,088,424)
187,227
(118,673)
68,554
61,986
51,176
(521)
50,655
(19,628)
812,275
(666,295)
145,980
134,715
129,601
(6,103)
123,498
(41,504)
51,850
48,505
48,484
(11,785)
36,700
(12,486)
(30,989)
(37,406)
(45,046)
23,435
(21,612)
45,439
44,911
44,472
(17,275)
27,197
37,973
37,284
35,806
(13,356)
15,236
38,487
Other
Comprehensive
Income
ThUS$
Total
Comprehensive
Income
ThUS$
(37,029)
(47,631)
(66,592)
(230,171)
(1,006)
(68,182)
(258,557)
(31,881)
(15,502)
(32,034)
(48,724)
14,795
(178,829)
(229,670)
(306,258)
(4,323)
(24,009)
(30,206)
(13,713)
(298,673)
(825)
(63,640)
(185,905)
(883,893)
(854)
66,492
(7,820)
(63,061)
40,996
(127,279)
(219,231)
(280,181)
(12,070)
(498,712)
(19,348)
(14,970)
(96,339)
(66,777)
(8,334)
(12,361)
(62,468)
328,218
213,126
59,799
77,988
10,746
(964)
15,471
31,027
81,994
24,214
(14,337)
26,201
23,251
51,550
10,439
26,077
(7,747)
7,275
(996)
801
(18,464)
(5,706)
22,450
70,014
16,145
42,806
(16,729)
(8,720)
973
156,138
-
156,138
186,817
(42,052)
144,765
27,232
17,249
(8,152)
(5,852)
19,080
11,397
77,939
274,169
1,442,360
1,716,529
591,523
415,191
709,815
1,716,529
801,229
(530,338)
Grupo Enel Argentina
Consolidated
312,760
841,974
1,154,734
124,270
567,492
4,484,221
5,051,713
344,060
225,338
4,482,315
5,051,713
3,086
66,334
161,093
502
(189)
(10,025)
(11,572)
(139)
Raw
Materials and
Consumables
Used
ThUS$
(600)
(4,963)
(4,543)
Revenue
ThUS$
-
112,931
48,505
Financial
Statements
Separate
Enel Argentina S.A.
Enel Generación Costanera S.A.
Separate
Enel Generación El Chocón S.A.
Separate
Empresa Distribuidora Sur S.A.
Enel Trading Argentina S.R.L
Dock Sud S.A.
Enel Brasil S.A.
Enel Generación Fortaleza S.A.
EGP Cachoeira Dourada S.A.
EGP Volta Grande
Enel Cien S.A.
Compañía de Transmisión del
Mercosur S.A.
Enel Distribución Ceará S.A.
Enel Distribución Rio S.A.
Enel Distribución Goiás S.A.
Enel X Brasil S.A.
Grupo Enel Brasil
Emgesa S.A. E.S.P.
Compañía Distribuidora y
Comercializadora de Energía S.A.
Enel Perú S.A.C.
Chinango S.A.C.
Enel Generación Piura S.A.
Enel Distribución Perú S.A.A.
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Current
Assets
ThUS$
40,432
96,321
91,441
Non-
Current
Assets
ThUS$
65,563
253,484
268,572
Total Assets
ThUS$
105,995
349,805
360,013
12,882
97,880
1,263
172,641
14,145
270,521
76,390
584,030
31,525
31,496
2,554
133,672
130,285
274,019
141,069
10,089
210,062
714,315
305,544
172,565
12,643
Total
Liabilities
and Equity
ThUS$
105,995
349,805
360,013
Equity
ThUS$
104,702
179,298
285,619
3,572
14,145
231,197
270,521
914,714
1,154,734
138,244
130,553
135,554
154,631
210,062
714,315
305,544
172,565
2,200
12,643
Non-
Current
Liabilities
ThUS$
74,375
43,537
-
-
28,575
115,750
19,535
20,520
138,557
407
-
482
Current
Liabilities
ThUS$
1,293
96,132
30,857
10,573
10,749
52,283
563,242
31,433
17,527
10,443
570,718
640,774
180,490
191,039
7,061
58,135
Transportadora de Energía S.A.
Separate
2,144
11,705
13,849
8,490
4,877
13,849
62,398
52,705
45,439
37,973
(10,548)
(83,694)
-
-
575,851
1,322,709
1,898,560
589,631
651,669
657,260
1,898,560
1,166,240
(835,325)
330,915
191,873
98,900
(29,125)
705,578
1,588,563
2,294,141
574,409
1,011,309
708,423
2,294,141
1,253,027
(869,354)
383,673
231,938
566,168
2,032,002
2,598,170
925,334
517,983
1,154,853
2,598,170
1,394,049
(1,026,859)
367,190
169,277
19,617
22,477
42,094
20,560
583
20,951
42,094
13,357
(4,454)
8,903
(3,705)
94,515
85,106
(6,711)
(78,528)
(42,774)
(2,009)
Enel Distribuicao Sao Paulo S.A.
Separate
1,515,162
5,198,704
6,713,866
1,614,149
3,852,132
1,247,585
6,713,866
3,020,740
(2,206,107)
814,633
592,998
374,091
(116,943)
257,148
(77,974)
179,174
(677,886)
Consolidated
4,143,213
11,396,553
15,539,766
4,211,671
6,169,465
5,158,630
15,539,766
7,680,106
(5,450,909)
2,229,197
1,436,985
873,753
(420,461)
454,162
(148,157)
306,005
(1,678,028)
(1,372,023)
353,946
2,420,483
2,774,429
697,179
1,506,532
2,774,429
1,159,134
(412,530)
746,604
673,446
606,868
(70,522)
536,449
(188,883)
347,566
499,983
1,973,507
2,473,490
840,051
992,665
2,473,490
1,546,963
(886,155)
660,808
506,794
375,127
(49,171)
325,977
(97,881)
228,096
Enel Generación Perú S.A.A.
315,244
880,207
1,195,451
208,495
795,917
1,195,451
408,604
(140,350)
268,254
210,702
162,140
34,757
1,288,805
1,323,562
10,990
1,132,082
1,323,562
-
-
-
(215)
(215)
8,892
60,425
131,158
164,399
140,050
224,824
26,392
24,746
106,597
141,943
140,050
224,824
41,000
63,874
(4,496)
(23,435)
36,504
40,439
31,273
30,016
27,319
18,512
(6,072)
10,361
(87)
(4,873)
191,178
1,263,496
1,454,674
249,068
471,377
734,229
1,454,674
886,663
(598,157)
288,506
213,898
141,464
(25,042)
116,427
(38,488)
Grupo Enel Perú
Consolidated
546,260
2,382,886
2,929,146
627,532
734,466
1,567,148
2,929,146
1,243,994
(621,907)
622,087
475,905
339,421
(26,007)
317,029
(91,896)
225,133
(246,279)
(21,146)
Consolidated Financial Statements 557
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Gross
Income
ThUS$
(463)
81,806
157,774
(57,320)
114,170
85,746
59,632
61,376
789
Income
ThUS$
(463)
59,860
42,906
99,940
79,065
59,607
49,598
23,971
(4,677)
(10,288)
(42,897)
(67,167)
(61,111)
(81,785)
(58,397)
(1,473)
(4,886)
(723)
(317)
(22,938)
(30,553)
Income
ThUS$
(53,938)
(41,288)
(70,096)
(74,649)
(270,493)
(149,216)
(5,465)
2,285
(844)
(4,600)
15,634
16,154
(26,723)
(46,182)
(59,597)
(679)
(412,571)
(559,512)
7,209
(615)
27,105
18,483
2,791
2,948
13,065
64,392
Income
ThUS$
(16,677)
16,652
11,934
(48,173)
1,334
(12,524)
(25,515)
(45,333)
71,734
55,579
30,007
24,947
4,931
5,275
76,339
25,914
(84,879)
(5,128)
325,520
329,001
382,674
249,999
154,386
163,120
23,251
26,268
141,569
352,685
Enel Argentina S.A.
Financial
Statements
Separate
Enel Generación Costanera S.A.
Separate
Enel Generación El Chocón S.A.
Separate
Empresa Distribuidora Sur S.A.
Enel Trading Argentina S.R.L
Separate
Separate
Current
Assets
ThUS$
43,219
113,909
101,114
Non-
Current
Assets
ThUS$
87,644
270,423
315,842
Total Assets
ThUS$
130,863
384,332
416,956
Current
Liabilities
ThUS$
2,152
112,412
75,003
Non-
Current
Liabilities
ThUS$
-
105,047
56,983
Total
Liabilities
and Equity
ThUS$
130,863
384,332
416,956
Equity
ThUS$
128,711
166,873
284,970
284,126
1,456,918
1,741,044
509,223
429,766
802,055
1,741,044
1,346,888
(773,693)
573,195
307,066
211,031
265,560
(76,548)
189,012
(237,185)
23,432
1,551
24,983
21,486
-
3,497
24,983
7,497
(950)
6,547
3,599
3,321
(92)
3,229
(1,295)
1,934
(600)
Raw
Materials and
Consumables
Contribution
Operating
Operating
Financial
Income
Other
Total
Comprehensive
Comprehensive
12-31-2019
Revenue
ThUS$
-
Used
ThUS$
-
Margin
ThUS$
-
213,606
(68,969)
144,637
100,244
71,807
(5,957)
65,850
58,055
Results
Before Taxes
ThUS$
Income
Taxes
ThUS$
39,714
(2,453)
82,582
(24,642)
103,800
(21,770)
ThUS$
8,963
22,628
59,477
54,470
Profit
(Loss)
ThUS$
37,261
57,940
82,030
Dock Sud S.A.
Grupo Enel Argentina
Enel Brasil S.A.
Enel Generación Fortaleza S.A.
EGP Cachoeira Dourada S.A.
EGP Volta Grande
Enel Cien S.A.
Compañía de Transmisión del
Mercosur S.A.
Separate
Consolidated
105,726
326,191
256,881
362,607
927,948
1,254,139
Separate
Separate
Separate
Separate
Separate
Separate
371,174
5,186,673
5,557,847
119,719
213,201
42,230
113,996
6,856
193,438
98,107
345,708
151,707
701
313,157
311,308
387,938
265,703
7,557
Transportadora de Energía S.A.
Separate
4,914
3,924
8,838
629,655
1,624,665
2,254,320
722,394
1,962,608
2,685,002
52,678
185,096
145,721
108,806
193,295
29,751
13,358
50,954
52,590
525,921
910,507
52,732
151,167
257,197
362,607
917,876
1,254,139
376,140
5,035,986
5,557,847
737
3,280
185,505
16,240
8,030
203,614
114,733
172,682
236,105
(51,427)
313,157
311,308
387,938
265,703
7,557
9,207
(52,959)
8,838
902,000
830,069
826,399
2,254,320
944,426
2,685,002
309,525
(183,394)
126,131
13,389
113,329
(36,130)
77,199
494,303
(394,776)
146,958
285,277
977
106,792
70,295
1,142
1,112
(54,326)
(74,927)
(85)
(42,895)
(967)
-
-
92,632
210,350
892
99,527
63,897
69,328
1,142
50,775
12,036
63,132
(1,007)
62,125
102,242
112,784
299,022
(54,044)
244,978
(58,076)
(85,784)
88,858
15,025
103,883
(100)
78,965
(25,671)
53,294
(13,583)
46,024
(15,173)
19,722
69,320
(39,773)
30,851
29,547
(530)
(10,469)
(10,999)
296
(10,703)
1,397,853
(991,979)
405,874
248,917
165,346
122,937
(19,875)
103,062
1,526,019
(1,029,220)
496,799
310,962
175,012
109,105
(37,009)
72,096
1,112
601
(923)
(11,212)
333
(10,879)
665,187
2,355,246
3,020,433
795,562
903,997
1,320,874
3,020,433
1,546,302
(1,100,077)
446,225
221,433
(36,744)
11,462
(25,282)
17,886
15,089
32,975
13,676
307
18,992
32,975
19,359
(6,434)
12,925
(1,373)
(311)
(4,988)
539
(4,449)
Enel Distribuicao Sao Paulo S.A.
Separate
1,701,300
6,062,310
7,763,610
1,474,482
4,310,495
1,978,633
7,763,610
3,756,890
(2,699,108)
1,057,782
674,604
414,699
(136,943)
277,756
460,335
738,091
4,211,380
13,471,236
17,682,616
3,919,122
7,528,800
6,234,694
17,682,616
8,684,491
(5,906,735)
2,777,756
1,718,861
1,002,297
(430,285)
574,154
314,359
888,513
251,413
2,524,074
2,775,487
387,804
943,882
1,443,801
2,775,487
1,246,989
(465,768)
781,221
710,320
637,221
555,672
(180,207)
375,465
363,838
1,842,861
2,206,699
545,689
704,527
956,483
2,206,699
1,665,318
(962,174)
703,144
556,513
431,004
372,680
(122,066)
250,614
37,589
1,403,189
1,440,778
361,697
974,784
1,336,481
6,346
75,118
153,370
180,365
159,716
255,483
153,382
1,305,567
1,458,949
41,359
172,150
6,349
64,559
272,268
482,477
10,868
1,388,551
1,440,778
259,367
904,964
1,336,481
38,766
33,669
114,601
157,255
159,716
255,483
467,924
718,757
1,458,949
805,168
1,826,282
3,113,927
11
-
11
(1,155)
(1,155)
127,289
(8)
127,281
478,155
(178,102)
300,053
243,359
191,690
200,977
(56,340)
144,637
45,030
82,155
(5,081)
(27,861)
39,949
54,294
34,113
44,074
29,868
32,902
29,145
32,595
(8,685)
(9,275)
20,460
23,320
950,350
(619,181)
331,169
257,473
196,436
184,153
(55,649)
128,504
1,382,941
(676,173)
706,768
561,494
433,368
413,480
(125,187)
288,293
Enel Distribución Ceará S.A.
Enel Distribución Rio S.A.
Enel Distribución Goiás S.A.
Enel X Brasil S.A.
Separate
Separate
Separate
Separate
Grupo Enel Brasil
Emgesa S.A. E.S.P.
Compañía Distribuidora y
Comercializadora de Energía S.A.
Enel Perú S.A.C.
Enel Generación Perú S.A.A.
Chinango S.A.C.
Enel Generación Piura S.A.
Enel Distribución Perú S.A.A.
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Grupo Enel Perú
Consolidated
551,844
2,562,083
3,113,927
NOTE 39. Subsequent events
1. Edesur
On February 22, 2022, the National Executive Power issued Decree No. 88/2022, which, in its Article 16, extends until December
31, 2022 the implementation of the "Special Regime for Regularization of Obligations" for the debts held with Compañía
Administradora del Mercado Mayorista Eléctrico S.A. (CAMMESA) of the electricity distributors agents of the Wholesale
Electricity Market (MEM, in its Spanish acronym) and of the "Special Credit Regime" established by the Secretariat of Energy
(SE) under Article 87 of Law No. 27,591 and in resolutions SE No. 40/2021 and No. 371/2021. The Secretariat of Energy, in its
capacity as enforcement authority, may establish for the obligations pending payment generated after April 30, 2021 and
until December 31, 2021, a special regime for the regularization of obligations under terms and conditions similar to those set
forth in the "Special Regime for the Regularization of Obligations", providing, in particular for the remaining debts, a payment
plan with a term of up to 96 monthly installments, up to 6 months of grace and an interest rate equivalent to up to 50% of the
rate in force in the MEM. Distributors that adhere to this regime will have to keep their payments up to date with CAMMESA’s
current invoicing beginning on the date established by the Secretariat of Energy for each case.
Finally, as a result of the public hearing mentioned above, on February 22, 2022, the Secretariat of Energy and the ENRE issued Joint
Resolution No. 1/2022, approving the final report and, on February 23, 2022, the Secretariat of Energy issued Resolution No. 105/2022,
updating the stabilized seasonal prices of energy and transportation that will be applicable beginning on March 1, 2022 (See Note 4.i.a)).
Except as described above, between January 1, 2022 and the date of issuance of these consolidated financial statements, we
are not aware of other events of a financial or any other nature that could significantly affect the financial position and the
results presented herein..
558
Integrated Annual Report Enel Américas 2021
284,126
1,456,918
1,741,044
509,223
429,766
802,055
1,741,044
1,346,888
(773,693)
573,195
307,066
211,031
265,560
(76,548)
189,012
(237,185)
23,432
1,551
24,983
21,486
3,497
24,983
7,497
(950)
6,547
3,599
3,321
(92)
3,229
(1,295)
1,934
(600)
Raw
Materials and
Consumables
Used
ThUS$
Revenue
ThUS$
Contribution
Margin
ThUS$
Gross
Operating
Income
ThUS$
-
-
-
(463)
213,606
(68,969)
144,637
100,244
71,807
(5,957)
65,850
58,055
12-31-2019
Operating
Income
ThUS$
Financial
Results
ThUS$
Income
Before Taxes
ThUS$
Income
Taxes
ThUS$
(463)
59,860
42,906
8,963
22,628
59,477
54,470
39,714
(2,453)
82,582
(24,642)
103,800
(21,770)
Profit
(Loss)
ThUS$
37,261
57,940
82,030
Current
Assets
ThUS$
43,219
113,909
101,114
Non-
Current
Assets
ThUS$
87,644
270,423
315,842
Total Assets
ThUS$
130,863
384,332
416,956
Current
Liabilities
ThUS$
2,152
112,412
75,003
Total
Liabilities
and Equity
ThUS$
130,863
384,332
416,956
Equity
ThUS$
128,711
166,873
284,970
Non-
Current
Liabilities
ThUS$
105,047
56,983
-
-
Separate
Consolidated
105,726
326,191
256,881
362,607
927,948
1,254,139
52,732
151,167
257,197
362,607
917,876
1,254,139
371,174
5,186,673
5,557,847
376,140
5,035,986
5,557,847
119,719
213,201
42,230
113,996
6,856
193,438
98,107
345,708
151,707
701
313,157
311,308
387,938
265,703
7,557
737
3,280
185,505
16,240
8,030
203,614
114,733
172,682
236,105
(51,427)
313,157
311,308
387,938
265,703
7,557
Transportadora de Energía S.A.
Separate
4,914
3,924
8,838
9,207
(52,959)
8,838
Financial
Statements
Separate
Enel Argentina S.A.
Enel Generación Costanera S.A.
Separate
Enel Generación El Chocón S.A.
Separate
Empresa Distribuidora Sur S.A.
Enel Trading Argentina S.R.L
Separate
Separate
Dock Sud S.A.
Grupo Enel Argentina
Enel Brasil S.A.
Enel Generación Fortaleza S.A.
EGP Cachoeira Dourada S.A.
EGP Volta Grande
Enel Cien S.A.
Compañía de Transmisión del
Mercosur S.A.
Enel Distribución Ceará S.A.
Enel Distribución Rio S.A.
Enel Distribución Goiás S.A.
Enel X Brasil S.A.
Grupo Enel Brasil
Emgesa S.A. E.S.P.
Compañía Distribuidora y
Comercializadora de Energía S.A.
Enel Perú S.A.C.
Chinango S.A.C.
Enel Generación Piura S.A.
Enel Distribución Perú S.A.A.
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
Separate
52,678
185,096
145,721
108,806
193,295
29,751
13,358
50,954
52,590
525,921
910,507
41,359
172,150
6,349
64,559
272,268
482,477
629,655
1,624,665
2,254,320
722,394
1,962,608
2,685,002
902,000
830,069
826,399
2,254,320
944,426
2,685,002
1,397,853
(991,979)
405,874
248,917
165,346
1,526,019
(1,029,220)
496,799
310,962
175,012
665,187
2,355,246
3,020,433
795,562
903,997
1,320,874
3,020,433
1,546,302
(1,100,077)
446,225
221,433
17,886
15,089
32,975
13,676
307
18,992
32,975
19,359
(6,434)
12,925
(1,373)
23,971
(4,677)
1,112
601
(923)
(10,288)
(42,897)
(67,167)
(61,111)
(11,212)
333
(10,879)
122,937
(19,875)
103,062
109,105
(37,009)
72,096
(36,744)
11,462
(25,282)
(311)
(4,988)
539
(4,449)
146,958
285,277
977
(54,326)
(74,927)
(85)
92,632
210,350
892
309,525
(183,394)
126,131
494,303
(394,776)
106,792
70,295
1,142
1,112
(42,895)
(967)
-
-
99,527
63,897
69,328
1,142
81,806
157,774
(57,320)
114,170
85,746
59,632
61,376
789
50,775
12,036
63,132
(1,007)
62,125
102,242
112,784
299,022
(54,044)
244,978
(58,076)
(85,784)
88,858
15,025
103,883
99,940
79,065
59,607
49,598
13,389
113,329
(36,130)
77,199
(100)
78,965
(25,671)
53,294
(13,583)
46,024
(15,173)
19,722
69,320
(39,773)
30,851
29,547
(530)
(10,469)
(10,999)
296
(10,703)
Enel Distribuicao Sao Paulo S.A.
Separate
1,701,300
6,062,310
7,763,610
1,474,482
4,310,495
1,978,633
7,763,610
3,756,890
(2,699,108)
1,057,782
674,604
414,699
(136,943)
277,756
460,335
738,091
4,211,380
13,471,236
17,682,616
3,919,122
7,528,800
6,234,694
17,682,616
8,684,491
(5,906,735)
2,777,756
1,718,861
1,002,297
(430,285)
574,154
314,359
888,513
251,413
2,524,074
2,775,487
387,804
943,882
1,443,801
2,775,487
1,246,989
(465,768)
781,221
710,320
637,221
363,838
1,842,861
2,206,699
545,689
704,527
956,483
2,206,699
1,665,318
(962,174)
703,144
556,513
431,004
Enel Generación Perú S.A.A.
361,697
974,784
1,336,481
259,367
904,964
1,336,481
478,155
(178,102)
300,053
243,359
191,690
37,589
1,403,189
1,440,778
10,868
1,388,551
1,440,778
11
-
11
(1,155)
(1,155)
Grupo Enel Perú
Consolidated
551,844
2,562,083
3,113,927
805,168
1,826,282
3,113,927
1,382,941
(676,173)
706,768
561,494
433,368
6,346
75,118
153,370
180,365
159,716
255,483
38,766
33,669
114,601
157,255
159,716
255,483
45,030
82,155
(5,081)
(27,861)
39,949
54,294
34,113
44,074
29,868
32,902
153,382
1,305,567
1,458,949
467,924
718,757
1,458,949
950,350
(619,181)
331,169
257,473
196,436
(81,785)
(58,397)
(1,473)
(4,886)
(723)
(317)
(22,938)
(30,553)
555,672
(180,207)
375,465
372,680
(122,066)
250,614
127,289
(8)
127,281
200,977
(56,340)
144,637
29,145
32,595
(8,685)
(9,275)
20,460
23,320
184,153
(55,649)
128,504
413,480
(125,187)
288,293
(53,938)
(41,288)
(70,096)
(74,649)
(270,493)
(149,216)
(5,465)
2,285
(844)
(4,600)
15,634
16,154
(26,723)
(46,182)
(59,597)
(679)
(412,571)
(559,512)
7,209
(615)
27,105
18,483
2,791
2,948
13,065
64,392
(16,677)
16,652
11,934
(48,173)
1,334
(12,524)
(25,515)
(45,333)
71,734
55,579
30,007
24,947
4,931
5,275
76,339
25,914
(84,879)
(5,128)
325,520
329,001
382,674
249,999
154,386
163,120
23,251
26,268
141,569
352,685
Other
Comprehensive
Income
ThUS$
Total
Comprehensive
Income
ThUS$
Consolidated Financial Statements 559
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
APPENDIX No. 1 Companies from the enel americas group
Compañía Distribuidora y Comercializadora de Energía
S.A. - Codensa
Colombia
Colombian Peso
48.30%
48.48%
48.48%
100.00%
100.00%
This appendix is part of Note 2.4 "Subsidiaries".
Taxpayer ID
No.
Company
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Central Dock Sud S.A.
Compañía de Transmisión del Mercosur S.A. - CTM
Distrilec Inversora S.A.
Empresa Distribuidora Sur S.A. - Edesur
Enel Argentina S.A.
Enel Trading Argentina S.R.L.
Enel Generación Costanera S.A.
Enel Generación El Chocón S.A.
Hidroinvest S.A.
Inversora Dock Sud S.A.
Transportadora de Energía S.A. - TESA
Enel Green Power Argentina S.A.
77.333.234-7
ESSA2 S.P.A.
76.802.942-3
Energia y Servicios South America S.P.A.
Country
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Argentina
Chile
Chile
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Emgesa S.A. E.S.P.
Inversora Codensa S.A.S.
Sociedad Portuaria Central Cartagena S.A.
Enel X Colombia S.A.S
Bogotá ZE S.A.S.
Fontibon ZE S.A.S.
USME ZE S.A.S
Enel Green Power Colombia S.A.S E.S.P.
EGP Fotovoltaica La Loma S.A.S under liquidation
Guayepo Solar S.A.S.
Latamsolar Fotovoltaica Fundación S.A.S.
Atlantico Photovoltaic S.A.S. ESP
Enel Peru S.A.C.
Chinango S.A.C.
Enel Generación Peru S.A.A.
Enel Distribución Peru S.A.A.
Enel Generación Piura S.A.
Enel X Peru S.A.C.
Compañía Energética Veracruz S.A.C.
Enel Green Power Peru S.A. (USD)
Empresa de Generación Eléctrica Los Pinos S.A.
Empresa De Generacion Electrica Marcona S.A.C.
Energetica Monzón S.A.C.
Enel Green Power Guatemala, S.A.
Generadora de Occidente, Ltda.
Generadora Montecristo, S.A.
Renovables de Guatemala, S.A.
Transmisora de Energia Renovable, S.A.
Tecnoguat, S.A.
Enel Green Power Panamá, S.R.L.
Enel Fortuna S.A.
Enel Solar, S.R.L.
Generadora Eolica Alto Pacora, S.A.
Generadora Solar Tole, S.A.
Llano Sanchez Solar Power One, S.A.
Generadora Solar Austral, S.A.
Jaguito Solar 10MW, S.A.
Progreso Solar 20MW, S.A.
Generadora Solar El Puerto, S.A.
Generadora Solar de Occidente, S.A.
Enel Green Power Costa Rica S.A.
Energia Global Operaciones S.A.
PH Chucás S.A. (2)
PH Don Pedro S.A. (2)
PH Rio Volcan S.A. (2)
Enel Uruguay S.A. (1)
Enel Distribución Río S.A.
EGP Cachoeira Dourada S.A.
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Colombia
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Peru
Colombian Peso
Colombian Peso
Colombian Peso
Colombian Peso
Peruvian Sol
Peruvian Sol
Peruvian Sol
Peruvian Sol
Peruvian Sol
Peruvian Sol
Peruvian Sol
U.S. Dollar
Peruvian Sol
U.S. Dollar
U.S. Dollar
Guatemala
U.S. Dollar
Guatemala
U.S. Dollar
Guatemala
U.S. Dollar
Guatemala
U.S. Dollar
Guatemala
U.S. Dollar
Guatemala
U.S. Dollar
Panama
Panama
Panama
Panama
Panama
Panama
Panama
Panama
Panama
Panama
Panama
U.S. Dollar
U.S. Dollar
U.S. Dollar
U.S. Dollar
U.S. Dollar
U.S. Dollar
U.S. Dollar
U.S. Dollar
U.S. Dollar
U.S. Dollar
U.S. Dollar
Costa Rica
U.S. Dollar
Costa Rica
U.S. Dollar
Costa Rica
U.S. Dollar
Costa Rica
U.S. Dollar
Costa Rica
U.S. Dollar
Uruguay
U.S. Dollar
Brazil
Brazil
Brazilian Real
Brazilian Real
-
-
-
-
100.00%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
0.03%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(1)
In 2020, Nuxer Trading S.A. changed its name to Enel Uruguay S.A.
560
Integrated Annual Report Enel Américas 2021
Functional
Currency
12-31-2021
12-31-2020
Direct
Indirect
Total
Direct
Indirect
Total
Argentine peso
Argentine peso
-
-
70.24%
70.24%
100.00%
100.00%
-
-
70.24%
70.24%
100.00%
100.00%
51.50%
-
-
99.45%
Argentine peso
51.50%
-
Argentine peso
Argentine peso
Argentine peso
Argentine peso
Argentine peso
Argentine peso
Argentine peso
Argentine peso
Argentine peso
U.S. Dollar
U.S. Dollar
-
99.45%
99.92%
55.00%
-
-
41.94%
57.14%
-
45.00%
75.68%
67.67%
54.76%
-
-
100.00%
99.24%
100.00%
100.00%
Colombian Peso
48.48%
Colombian Peso
Colombian Peso
Colombian Peso
Colombian Peso
Colombian Peso
Colombian Peso
-
-
-
-
-
-
Colombian Peso
100.00%
100.00%
-
51.50%
99.45%
99.92%
100.00%
75.68%
67.67%
96.70%
57.14%
100.00%
100.00%
100.00%
100.00%
48.30%
99.99%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
80.00%
83.60%
83.15%
96.50%
99.99%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
75.00%
100.00%
50.06%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
65.00%
33.44%
34.32%
51.50%
99.45%
99.92%
100.00%
75.68%
67.67%
96.70%
57.14%
-
45.00%
75.68%
67.67%
54.76%
-
100.00%
100.00%
-
-
-
-
-
-
-
-
48.30%
48.48%
100.00%
100.00%
99.99%
100.00%
100.00%
99.99%
100.00%
100.00%
-
-
-
-
-
-
-
-
80.00%
83.60%
83.15%
96.50%
99.99%
-
-
-
-
-
-
-
100.00%
80.00%
83.60%
83.15%
96.50%
99.99%
100.00%
100.00%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
100.00%
99.73%
99.75%
99.73%
99.75%
99.92%
55.00%
-
-
41.94%
57.14%
-
-
-
-
48.30%
-
-
-
-
-
-
-
-
-
-
-
100.00%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
0.76%
-
-
-
-
99.99%
100.00%
100.00%
100.00%
100.00%
-
100.00%
100.00%
100.00%
100.00%
-
80.00%
83.60%
83.15%
96.50%
99.99%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
75.00%
99.97%
50.06%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
65.00%
33.44%
34.32%
100.00%
100.00%
99.73%
99.75%
99.73%
99.75%
As a result of its distribution of shares and structure, Enel Américas has a controlling interest in the companies PH
(2)
Chucás S.A. of 99,50%, PH Don Pedro S.A. of 99,46% and PH Volcán S.A. of 99.15%.
Taxpayer ID
No.
Company
Country
Functional
Currency
12-31-2021
12-31-2020
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Enel Generación Fortaleza S.A.
Enel Cien S.A.
Enel Distribución Ceará S.A.
Enel Brazil S.A.
Enel X Brazil S.A.
Enel Distribución Goias S.A.
Enel Distribución Sao Paulo S.A.
Enel Green Power Proyectos I (Volta Grande) S.A.
Luz de Angra Energía S.A.
Central Generadora Fotovoltaica Sao Francisco Ltda.
Enel Tecnología de Redes S.A.
Enel Trading Brazil S.A.
Enel Green Power Desenvolvimento Ltda.
Alvorada Energia S.A.
Apiacas Energia S.A.
Alba Energia Ltda.
Bondia Energia Ltda.
Enel Green Power São Gonçalo 4 S.A.
Enel Green Power São Gonçalo 2 S.A.
Enel Green Power Sao Gonçalo 22 S.A.
Enel Green Power São Gonçalo 5 S.A.
Enel Green Power São Gonçalo 1 S.A.
Enel Green Power São Gonçalo 21 S.A.
Enel Green Power São Gonçalo 10 S.A.
Enel Green Power São Gonçalo 3 S.A.
Enel Green Power Ventos De Santa Ângela 4 S.A.
Enel Green Power Ventos De Santa Ângela 19 S.A.
Enel Green Power Ventos De Santa Esperança 13 S.A.
Enel Green Power Ventos De Santa Ângela 5 S.A.
Enel Green Power Ventos De Santa Ângela 8 S.A.
Enel Green Power Ventos De Santa Ângela 3 S.A.
Enel Green Power Ventos De Santa Ângela 11 S.A.
Enel Green Power Ventos De Santa Ângela 7 S.A.
Enel Green Power Ventos De Santa Ângela 6 S.A.
Enel Green Power Ventos De Santa Ângela 15 S.A.
Enel Green Power Ventos De Santa Ângela 14 S.A.
Enel Green Power Ventos De Santa Ângela 9 S.A.
Enel Green Power Ventos De Santa Ângela 17 S.A.
Enel Green Power Ventos De Santa Ângela 21 S.A.
Enel Green Power Ventos De Santa Angela 1 S.A.
Enel Green Power Ventos De Santa Angela 2 S.A
Enel Green Power Ventos De Santa Ângela 10 S.A.
Enel Green Power Ventos De Santa Ângela 20 S.A.
Enel Green Power Zeus II - Delfina 8 S.A.
Enel Green Power Ventos De Santa Esperanca 15 S.A.
Enel Green Power Ventos De Santa Esperança 17 S.A.
Central Geradora Fotovoltaica Bom Nome Ltda.
Parque Eolico Palmas Dos Ventos Ltda.
Enel Green Power Boa Vista 01 Ltda.
Enel Green Power Zeus Sul 1 Ltda.
Enelpower do Brazil Ltda.
Enel Green Power São Gonçalo 6 S.A.
Enel Green Power Ventos De Santa Ângela Energias
Renováveis S.A.
Enel Green Power Cumaru 01 S.A.
Enel Green Power Cumaru 02 S.A.
Enel Green Power Cumaru 03 S.A.
Enel Green Power Cumaru 04 S.A.
Enel Green Power Cumaru 05 S.A.
Enel Green Power São Gonçalo 07 S.A.
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Direct
Indirect
Total
Direct
- 100.00%
- 100.00%
-
74.05%
100.00%
-
- 100.00%
- 99.96%
- 100.00%
- 100.00%
-
51.00%
100.00%
100.00%
74.05%
100.00%
100.00%
99.96%
100.00%
100.00%
51.00%
- 100.00%
100.00%
-
-
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
- 100.00%
-
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
-
-
-
100.00%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Indirect
100.00%
100.00%
74.05%
-
100.00%
99.96%
100.00%
100.00%
51.00%
100.00%
100.00%
100.00%
Total
100.00%
100.00%
74.05%
100.00%
100.00%
99.96%
100.00%
100.00%
51.00%
100.00%
100.00%
100.00%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Consolidated Financial Statements 561
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Taxpayer ID
No.
Company
Country
Functional
Currency
12-31-2021
12-31-2020
Direct
Indirect
Total
Direct
Indirect
Total
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Enel Green Power São Gonçalo 08 S.A.
Enel Green Power São Gonçalo 11 S.A.
Enel Green Power São Gonçalo 12 S.A.
Enel Green Power Ventos De Santa Esperança 08 S.A.
Brazil
Brazil
Brazil
Brazil
Enel Green Power Ventos De Santa Esperança 16 S.A.
Brazil
Enel Green Power Ventos De Santa Esperança 21 S.A.
Brazil
Enel Green Power Ventos De Santa Esperança 22 S.A.
Brazil
Enel Green Power Ventos De Santa Esperança 25 S.A.
Brazil
Enel Green Power Ventos De Santa Esperança 26 S.A.
Brazil
Enel Green Power Ventos De Santa Ângela ACL 12 S.A.
Brazil
Enel Green Power Ventos De Santa Angela Acl 13 S.A
Enel Green Power Ventos De Santa Angela Acl 16 S.A
Enel Green Power Ventos De Santa Angela Acl 18 S.A.
Isamu Ikeda Energia S.A.
Enel Green Power Cumaru Participacoes S.A.
Enel Green Power Lagoa Participações S.A.
Enel Green Power Aroeira 09 S.A.
Enel Green Power Ventos De Santa Esperança
Participações S.A.
Primavera Energia S.A.
Quatiara Energia S.A.
Enel Green Power Ventos de São Roque 01 S.A.
Enel Green Power Ventos de São Roque 02 S.A.
Enel Green Power Ventos de São Roque 04 S.A.
Enel Green Power Ventos de São Roque 08 S.A.
Enel Green Power Ventos de São Roque 11 S.A.
Enel Green Power Ventos de São Roque 16 S.A.
Enel Green Power Ventos de São Roque 17 S.A.
Enel Green Power Ventos de São Roque 18 S.A.
Enel Green Power Sao Goncalo 14 S.A.
Enel Green Power Sao Goncalo 15 S.A.
Enel Green Power Sao Goncalo 19 S.A
Enel Green Power São Gonçalo 18 S.A.
Enel Green Power Sao Goncalo 17 S.A
Enel Green Power Fontes dos Ventos 2 S.A.
Socibe Energia S.A.
Enel Green Power Fontes Dos Ventos 3 S.A.
Enel Green Power Ventos de São Roque 22 S.A.
Enel Green Power Ventos de São Roque 26 S.A.
Enel Green Power Ventos de São Roque 29 S.A.
Enel Green Power Ventos de São Roque 13 S.A.
Enel Green Power Ventos de São Roque 19 S.A.
Enel Green Power São Micael 04 S.A.
Enel Green Power Ventos De Santa Esperança 1 S.A.
Enel Green Power Ventos De Santa Esperança
Energias Renováveis S.A.
Enel Green Power São Micael 02 S.A.
Enel Green Power Ventos de Santa Esperança 7 S.A.
Enel Green Power São Micael 03 S.A.
Enel Green Power São Micael 01 S.A.
Enel Green Power Cumaru Solar 01 S.A.
Enel Green Power Cumaru Solar 02 S.A.
Enel Green Power Ventos de Santa Esperanca 3 S.A.
Enel Green Power Cristal Eolica S.A.
Ventos de Sao Roque Energias Renovaveis S.A.
Enel Green Power Sao Judas Eolica S.A.
Fotons de Santo Anchieta Energias Renovaveis S.A.
Enel Green Power Primavera Eolica S.A
Enel Green Power Ventos de Santo Orestes 1 S.A.
Enel Green Power Ventos de Santo Orestes 2 S.A.
Enel Green Power Zeus Sul 2 S.A.
Enel Green Power Lagoa Do Sol 01 S.A.
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
562
Integrated Annual Report Enel Américas 2021
Taxpayer ID
No.
Company
Country
Functional
Currency
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Foreign
Enel Green Power Ventos de Sao Roque 03 S.A.
Enel Green Power Lagoa Do Sol 03 S.A.
Enel Green Power Ventos de Sao Roque 05 S.A.
Enel Green Power Lagoa Do Sol 04 S.A.
Enel Green Power Emiliana Eolica S.A
Enel Green Power Ventos de Sao Roque 07 S.A.
Enel Green Power Joana Eolica S.A.
Enel Green Power Sao Micael 05 S.A.
Enel Green Power Pau Ferro Eolica S.A.
Enel Green Power Pedra Do Geronimo Eolica S.A.
Enel Green Power Tacaico Eolica S.A.
Jade Energia Ltda.
Enel Green Power Lagoa Do Sol 02 S.A.
Enel Green Power Cerrado Solar S.A.
Enel Green Power Brejolandia Solar S.A.
Enel Green Power Esperanca Solar S.A.
Enel Green Power Fontes Solar S.A.
Enel Green Power Ventos de Sao Roque 06 S.A.
Enel Green Power Lagoa II Participacoes S.A.
Enel Green Power Morro do Chapéu Solar 01 S.A.
Enel Green Power Lagoa III Participacoes S.A.
Enel Green Power Lagoa do Sol 05 S.A
Enel Green Power Lagoa do Sol 06 S.A
Enel Green Power Lagoa do Sol 07 S.A
Ventos De Santo Orestes Energias Renovaveis S.A.
Enel Green Power Modelo I Eolica S.A.
Enel Green Power Modelo II Eolica S.A.
Enel Green Power Aroeira 04 S.A.
Enel Green Power Aroeira 03 S.A.
Enel Green Power Aroeira 08 S.A.
Enel Green Power Fontes II Participacoes S.A.
Enel Green Power Cabeca De Boi S.A.
Enel Green Power Dois Riachos Eolica S.A.
Enel Green Power Fazenda S.A.
Enel Green Power Salto Apiacás S.A.
Enel Green Power Aroeira 07 S.A.
Enel Green Power Aroeira 06 S.A.
Enel Green Power Aroeira 05 S.A.
Enel Green Power Aroeira 01 S.A.
Enel Green Power Aroeira 02 S.A.
Enel Green Power Damascena Eolica S.A.
Enel Green Power Esperanca Eolica S.A.
Enel Green Power Manicoba Eolica S.A.
Enel Solucoes Energeticas Ltda.
Enel Green Power Delfina A Eolica S.A.
Enel Green Power Delfina B Eolica S.A.
Enel Green Power Delfina C Eolica S.A.
Enel Green Power Delfina D Eolica S.A.
Enel Green Power Delfina E Eolica S.A.
Enel Green Power Ituverava Norte Solar S.A.
Enel Green Power Ituverava Sul Solar S.A.
Enel Green Power Ituverava Solar S.A.
Enel Green Power Boa Vista Eolica S.A.
Enel Green Power Morro Do Chapeu I Eolica S.A.
Enel Green Power Morro Do Chapeu II Eolica S.A.
Enel Green Power Sao Abraao Eolica S.A.
Enel Green Power Mourao S.A.
Enel Green Power Paranapanema S.A.
Enel Green Power Horizonte MP Solar S.A.
Enel Green Power Novo Lapa 03 S.A.
Enel Green Power Novo Lapa 06 S.A.
Enel Green Power Novo Lapa 07 S.A.
Enel Green Power Novo Lapa 08 S.A.
Enel Green Power Novo Lapa 01 S.A.
Enel Green Power Novo Lapa 02 S.A.
Enel Green Power Novo Lapa 04 S.A.
Enel Green Power Novo Lapa 05 S.A
Enel Green Power Lagoa do Sol 08 S.A
Enel Green Power Lagoa do Sol 09 S.A
Fazenda Aroeira Empreendimento de Energia Ltda.
Enel Green Power Nova Olinda 01 S.A.
Enel Green Power Nova Olinda 07 S.A.
Enel Green Power Nova Olinda 05 S.A.
Enel Green Power Nova Olinda 09 S.A.
Enel Green Power Nova Olinda 04 S.A.
Enel Green Power Nova Olinda 02 S.A.
Enel Green Power Nova Olinda 03 S.A.
Enel Green Power Nova Olinda 06 S.A
Enel Green Power Nova Olinda 08 S.A
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazil
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
Brazilian Real
12-31-2021
Indirect
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
Direct
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Total
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
12-31-2020
Indirect
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Direct
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Total
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Consolidated Financial Statements 563
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
APPENDIX No. 2 Detail of assets and liabilities in foreign
currency
This appendix forms an integral part of these consolidated financial statements.
The detail of assets and liabilities denominated in foreign currency is as follows:
ASSETS
Current Assets
UF
ThUS$
Chilean
Peso
ThUS$
Dollar
ThUS$
Euro
ThUS$
Colombian
Peso
ThUS$
Peruvian
Sol
ThUS$
Argentine
Peso
ThUS$
Brazilian
Real
ThUS$
Other
Currency
ThUS$
12-31-2021
Cash and cash equivalents
Other current financial assets
Other current non-financial assets
Trade and other current receivables
Current accounts receivable from
related parties
Inventories
Current tax assets
Current assets other than assets or
groups of assets for disposal classified
as held for sale
-
-
-
-
-
-
-
-
1,588
348,413
162
150,799
129,607
8,025
76,750
13,731
61
143,685
37,715
27,748
757,659
89,881
654,913
1,532
89,825
71,132
-
-
-
328,825
175,163
312,025
2,822,475
64,787
3,693
503
273
27
784
8,131
1,765
-
-
-
-
76,415
2,628
520
55,296
50,899
-
55,911
8,246
-
342,523
128,719
-
121
4,481
1,521
3,692
-
9,483
-
-
-
347
-
-
-
-
-
Total
ThUS$
1,396,253
312,030
828,760
3,711,141
73,759
538,276
201,740
520
Total Current Assets
-
20,886
585,585
3,855
650,171
449,014
555,667
4,796,954
347
7,062,479
Non-Current Assets
Other non-current financial assets
Other non-current non-financial assets
Trade and other non-current
receivables
Non-current accounts receivable from
related parties
Investments accounted for using the
equity method
Intangible assets other than goodwill
Goodwill
Property, plant and equipment
Investment property
Right-of-use asset
Deferred tax assets
Total Non-Current Assets
Total Assets
-
-
-
-
-
-
-
-
-
-
-
-
-
-
195,661
5,157
33,645
43
211,205
-
-
-
-
-
-
-
-
-
105,554
28,215
1,187,248
-
11,109
726
196,941
5,926
1,969,578
-
-
-
-
-
-
-
-
-
-
-
-
6,717
27,954
20,201
-
-
12
26,193
3,244,593
36,068
830
3,041,767
-
-
-
23,097
470,305
26
2,369
-
-
165,571
75,592
86,948
4,322,605
66,068
263,426
2,015
1,110,501
3,962,716
2,033,436
2,143,756
3,670,372
-
60,872
4,322
-
138,163
29,124
-
49
15,928
6,272
117,760
745,291
4,314,421
2,575,821
2,301,211
16,729,466
-
-
-
-
-
-
-
-
-
-
36
36
3,473,176
3,145,421
724,851
26
2,369
4,756,270
1,470,225
12,997,528
6,272
327,953
992,368
27,896,459
26,812
2,555,163
3,855
4,964,592
3,024,835
2,856,878
21,526,420
383
34,958,938
UF
ThUS$
Chilean
Peso
ThUS$
Dollar
ThUS$
Euro
ThUS$
Colombian
Peso
ThUS$
Peruvian
Sol
ThUS$
Argentine
Peso
ThUS$
Brazilian
Real
ThUS$
Other
Currency
ThUS$
12-31-2020
ASSETS
Current Assets
Cash and cash equivalents
Other current financial assets
Other current non-financial assets
Trade and other current receivables
Current accounts receivable from
related parties
Inventories
Current tax assets
Total Current Assets
Non-Current Assets
-
-
-
-
-
-
-
-
Trade and other non-current
receivables
Non-current accounts receivable from
related parties
Investments accounted for using the
equity method
Intangible assets other than goodwill
Goodwill
Property, plant and equipment
Investment property
Right-of-use asset
Deferred tax assets
Total Non-Current Assets
Total Assets
-
-
-
-
-
-
-
24
-
24
24
637
116
16,730
1,587
3,271
-
9,546
170,335
95
2,177
22,201
47
-
36
81
381,754
147,458
4,047
27,088
-
62,864
65,480
65,287
40,572
741,282
160,734
411,220
330,871
165,342
306,606
2,408,247
547
3,566
716
2,480
29
36,341
1,035
11,457
987
-
102,781
31
53,015
10,069
40,892
2,628
272,723
94,149
-
-
99
-
-
-
-
31,887
207,847
4,717
847,288
441,228
521,494
4,124,696
99
6,179,256
77
244,126
-
-
-
-
-
-
-
-
-
-
-
-
176
-
-
192,057
3,057
436,359
55
25,461
2,765,194
23,092
898
2,272,857
24,410
276,346
153
33,029
33,565
-
-
-
-
-
32
2,273
61,160
24,603
135,881
18,264
70,955
184,037
4,158,620
2,128,830
1,762,799
-
19,639
11,277
-
159,534
-
124
253
28,746
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,256,830
718,608
304,247
7,942
43,099
762,049
34,944
644,206
4,717
5,257,716
3,007,984
2,452,000
15,531,868
99
26,933,558
4,410,428
2,566,756
1,930,506
11,407,172
Total
ThUS$
1,506,993
230,279
560,786
3,234,935
46,950
471,433
127,880
-
-
-
-
-
-
-
-
-
-
-
-
2,790,863
2,332,856
578,524
32
2,273
4,524,826
945,512
8,354,672
7,942
222,420
994,382
20,754,302
Other non-current financial assets
-
Other non-current non-financial assets
-
-
2,980
-
-
564
Integrated Annual Report Enel Américas 2021
LIABILITIES
Current Liabilities
UF
ThUS$
Chilean
Peso
ThUS$
Dollar
ThUS$
Euro
ThUS$
Colombian
Peso
ThUS$
Peruvian
Sol
ThUS$
Argentine
Peso
ThUS$
Brazilian
Real
ThUS$
Other
Currency
ThUS$
Total
ThUS$
12-31-2021
Other current financial liabilities
3,305
Current lease liability
Trade and other current payables
Current accounts payable to related
parties
Other current provisions
Current tax liabilities
Other current non-financial liabilities
-
6
-
-
-
-
-
-
191,159
11,038
7,414
371,171
-
9,246
277,357
16,996
8
14
382,294
23,393
24,991
187,299
8,172
422,272
240,035
857,048
3,172,285
189,421
46,878
518,069
2,148
2,001
207
196,983
54
-
916
2
14,558
17,340
-
-
-
30,974
87,275
31,874
7,666
53,643
24,132
49,900
13,881
26,096
76,248
13,703
185,408
Total Current Liabilities
3,311
215,382
468,274
533,655
954,960
621,830
947,154
4,050,314
Non-Current Liabilities
Other non-current financial liabilities
Non-current lease liability
Trade and other non-current
payables
Non-current accounts receivable
from related parties
Other long-term provisions
Deferred tax liabilities
Non-current provisions for employee
benefits
Other non-current non-financial
liabilities
Total Non-Current Liabilities
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,057
2,422
31,200
-
96,643
11,756
44,008
1,723
-
26,305
-
-
-
-
-
-
-
1,748,465
87,003
1,213,912
379,487
53,588
874
3,135
591
-
24
1,488,716
99,944
53,914
2,633,688
7,804
-
-
958,051
74,773
47,505
19,116
685,669
223,420
110,465
459,883
39,567
87,419
3,031
17,231
1,311,655
15,679
3,199
39,149
50,240
Total Liabilities
3,311
219,861
2,428,374
620,658
2,632,429
1,169,243
1,536,471
11,317,844
654
19,928,845
4,479
1,960,100
87,003
1,677,469
547,413
589,317
7,267,530
-
12,133,311
LIABILITIES
Current Liabilities
Other current financial liabilities
Current lease liability
Trade and other current payables
Current accounts payable to related parties
Other current provisions
Current tax liabilities
Other current non-financial liabilities
Liabilities associated with disposal groups
held for sale
Total Current Liabilities
UF
ThUS$
7,103
19
-
-
-
-
-
Chilean
Peso
ThUS$
Dollar
ThUS$
Euro
ThUS$
Colombian
Peso
ThUS$
Peruvian
Sol
ThUS$
Argentine
Peso
ThUS$
Brazilian
Real
ThUS$
Other
Currency
ThUS$
Total
ThUS$
12-31-2020
-
-
789,559
20,470
-
17
453,666
201,641
4,792
10,434
36
78
373,125
15,685
-
-
1,825,130
51,495
46,970
206,653
12,519
471,331
194,903
517,715
2,643,452
33
4,093,576
167,003
152,956
236,546
-
-
44,308
-
369
11,908
-
-
-
2,652
40,176
110,724
31,914
1,643
12,931
33,777
28,193
177
45,167
44,383
21,876
36,145
77,843
33,986
172,249
7,122
214,342
1,225,854
249,082
1,115,255
483,522
629,432
3,352,485
Non-Current Liabilities
3,611
Other non-current financial liabilities
Non-current lease liability
Trade and other non-current payables
Other long-term provisions
Deferred tax liabilities
Non-current provisions for employee
benefits
Other non-current non-financial liabilities
-
-
-
-
-
-
-
-
-
-
-
-
2,521
2,960
806,446
-
1,251,190
404,359
-
1,372,100
25,668
10,990
-
-
-
1,906
386
-
144,391
-
-
-
-
15,639
1,136
-
78,504
208,618
124,248
13,816
45
35,516
729
-
20,879
74,847
4,299
86,559
1,962,061
-
19,760
286,936
-
714,757
40,031
13,920
1,476,884
19,707
5,132
30,294
30,228
-
31,600
Total Non-Current Liabilities
3,611
5,481
876,610
144,777
1,699,042
524,061
437,514
5,631,577
Total Liabilities
10,733
219,823
2,102,464
393,859
2,814,297
1,007,583
1,066,946
8,984,062
-
128
126
1,232,834
-
22
-
-
-
506
654
-
-
-
-
-
-
-
-
60,687
4,912,130
955,707
164,844
183,060
286,272
7,795,534
4,917,583
187,891
2,689,067
1,062,498
838,819
879,400
1,423,481
134,572
-
-
-
95
128
597,122
220,425
222,870
266,604
7,277,222
-
-
-
-
-
-
-
-
3,837,706
91,070
2,061,475
144,391
833,900
612,953
1,624,217
116,961
9,322,673
16,599,895
Consolidated Financial Statements 565
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
APPENDIX No.3 Additional information official bulletin no. 715
Of february 3, 2012
This appendix forms an integral part of these consolidated financial statements.
a) Portfolio stratification
- Trade and other receivables by maturity:
Trade and other receivables, current
Up-to-date
Trade receivables, gross
Allowance for impairment
Accounts receivable for finance lease
Allowance for impairment
Other receivables, gross
Allowance for impairment
2,598,215
(27,829)
913
(24)
241,477
(833)
12-31-2021
1 - 90 days in
arrears
91 - 180 days in
arrears
More than 181
days in arrears
Total Current
Total Non-
Current
569,756
(30,264)
164,762
(40,749)
975,238
(739,521)
-
-
-
-
-
-
-
-
-
-
-
-
4,307,971
(838,363)
913
(24)
241,477
(833)
497,193
(32,338)
13,742
(365)
273,419
(26,800)
724,851
Total
2,811,919
539,492
124,013
235,717
3,711,141
Trade and other receivables, current
Up-to-date
12-31-2020
1 - 90 days in
arrears
91 - 180 days
in
arrears
More than 181
days in arrears
Total Current
Total Non-
Current
Trade receivables, gross
Allowance for impairment
Accounts receivable for finance lease
Allowance for impairment
Other receivables, gross
Allowance for impairment
Total
- By type of portfolio:
2,135,722
(19,775)
584
(16)
231,310
(5,487)
580,640
(25,636)
124,262
(31,925)
852,428
(607,172)
-
-
-
-
-
-
-
-
-
-
-
-
3,693,052
(684,508)
584
(16)
231,310
(5,487)
2,342,338
555,004
92,337
245,256
3,234,935
354,376
(65,015)
8,214
(214)
281,333
(170)
578,524
Time in Arrears
Up-to-date
1 to 30 days
31 to 60 days
61 to 90 days
91 to 120 days
121 to 150 days
151 to 180 days
181 to 210 days
211 to 250 days
More than 251 days
Total
Non-renegotiated portfolio
Renegotiated portfolio
Total Gross Portfolio
12-31-2021
Number of
customers
10,206,080
10,068,327
3,768,651
2,184,046
2,003,370
1,775,294
1,444,114
1,111,566
706,328
17,923,445
51,191,221
Gross amount
2,846,359
Number of
customers
5,767,598
Gross amount
249,049
357,910
111,707
52,203
62,975
38,225
33,018
101,997
33,300
722,336
458,333
319,522
236,723
236,769
221,348
206,498
195,652
176,952
594,230
21,645
15,224
11,067
10,908
10,002
9,634
9,567
8,251
99,787
Number of
customers
15,973,678
10,526,660
4,088,173
2,420,769
2,240,139
1,996,642
1,650,612
1,307,218
883,280
18,517,675
Gross amount
3,095,408
379,555
126,931
63,270
73,883
48,227
42,652
111,564
41,551
822,123
4,360,030
8,413,625
445,134
59,604,846
4,805,164
566
Integrated Annual Report Enel Américas 2021
Time in Arrears
Up-to-date
Up-to-date
1 to 30 days
31 to 60 days
61 to 90 days
121 to 150 days
151 to 180 days
181 to 210 days
211 to 250 days
12.31.2020
Non-renegotiated portfolio
Renegotiated portfolio
Total Gross Portfolio
Number of
customers
9,945,761
9,176,101
3,701,107
2,534,180
1,724,446
1,523,287
1,139,659
775,377
504,524
Gross amount
2,211,900
Number of
customers
6,354,193
Gross amount
Number of
customers
Gross amount
278,198
16,299,954
2,490,098
314,733
108,544
106,748
35,933
33,667
27,439
58,020
23,907
659,102
323,324
202,523
193,115
177,697
140,387
132,352
167,038
24,711
15,590
10,314
9,759
9,147
8,317
6,387
6,891
9,835,203
4,024,431
2,736,703
1,917,561
1,700,984
1,280,046
907,729
671,562
339,444
124,134
117,062
45,692
42,814
35,756
64,407
30,798
More than 251 days
Total
13,507,750
44,532,192
670,403
1,701,673
3,591,294
10,051,404
86,820
456,134
15,209,423
54,583,596
757,223
4,047,428
b) Portfolio in default and in legal collection process.
Portfolio in Default and in Legal Collection
Process
Notes receivable in default
Notes receivable in legal collection process (*)
Total
Number of
customers
660,033
13,985
674,018
Amount
112,258
51,461
Number of
customers
1,218,370
13,661
163,719
1,232,031
Amount
252,488
54,986
307,474
Number of
customers
907,062
9,399
916,461
Amount
111,016
44,329
155,345
2021
2020
2019
(*) Legal collections are included in the portfolio in arrears.
c) Provisions and write-offs
Allowances and write-offs
Provisions for non-renegotiated portfolio
Provisions for renegotiated portfolio
Recoveries
Total
d) Number and amount of operations
12-31-2021
295,574
21,950
(1,520)
316,004
12-31-2020
204,419
38,529
(576)
242,372
Number and Amount of
Transactions
Allowance for impairment
and recoveries:
Number of transactions
Amount of the
transactions
12-31-2021
12-31-2020
Total detail by type of
transaction Last
Total detail by type of
operation Year-to- date
Total detail by type of
transaction Last
Quarter
Total detail by type of
operation Year-to- date
1,025,520
199,315
3,830,580
316,004
377,287
49,648
3,800,417
242,372
Consolidated Financial Statements 567
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
APPENDIX No. 3.1 Supplementary information on trade
receivables
This appendix forms an integral part of these consolidated financial statements.
a) Portfolio stratification
- Trade receivables by time in arrears:
Trade receivables
Trade receivables, Generation and Transmission
- Large Clients
- Institutional Clients
- Other
Allowance for impairment
Unbilled services
Billed services
Trade receivables, Distribution
- Mass-market Clients
- Large Clients
- Institutional Clients
Allowance for impairment
Unbilled services
Billed services
Total trade receivables, gross
Total Allowance for impairment
Total trade receivables, net
Trade receivables
Trade receivables, Generation and Transmission
- Large Clients
- Institutional Clients
- Other
Allowance for impairment
Unbilled services
Billed services
Trade receivables, Distribution
- Mass-market Clients
- Large Clients
- Institutional Clients
Allowance for impairment
Unbilled services
Billed services
Total trade receivables, gross
Total Allowance for impairment
Total trade receivables, net
568
Integrated Annual Report Enel Américas 2021
12-31-2021
12.31.2021
Up-to-date
portfolio
1 - 30 days
in arrears
31 - 60 days
in arrears
61 - 90 days
in arrears
91 - 120 days
in arrears
121 - 150
151 - 180
181 - 210
211 - 250
More than
More than
days
in arrears
days
in arrears
days
in arrears
in arrears
days in arrears
days in arrears
Total Current
251
365
380,941
132,533
44,046
204,362
(2,317)
285,640
95,301
2,217,274
1,580,451
475,627
161,196
(25,512)
610,303
1,606,971
5,453
3,657
162
1,634
(23)
-
5,453
374,102
296,626
58,619
18,857
(6,285)
1,751
1,226
-
525
(2)
-
1,751
125,180
97,130
20,012
8,038
(12,611)
-
-
374,102
125,180
2,598,215
(27,829)
2,570,386
379,555
(6,308)
373,247
126,931
(12,613)
114,318
449
305
-
144
-
-
1,176
333
-
843
-
-
449
1,176
62,821
46,331
11,091
5,399
72,707
41,075
9,923
21,709
(11,343)
(12,984)
-
62,821
63,270
(11,343)
51,927
12-31-2020
Up-to-date
portfolio
1 - 30 days
in arrears
31 - 60 days
in arrears
61 - 90 days
in arrears
570,481
76,662
55,544
438,275
(455)
514,703
55,778
1,565,241
1,069,469
374,227
121,545
(19,320)
506,230
1,059,011
2,135,722
(19,775)
2,115,947
20,280
20,098
-
182
(6)
-
20,280
319,164
238,880
58,211
22,073
(4,185)
886
863
-
23
(3)
-
886
123,248
90,411
20,058
12,779
(10,913)
43,848
3,946
-
39,902
-
-
43,848
73,214
42,427
10,984
19,803
(10,529)
-
-
-
-
319,164
123,248
73,214
45,643
339,444
(4,191)
335,253
124,134
(10,916)
113,218
117,062
(10,529)
106,533
45,692
(9,644)
36,048
-
72,707
73,883
(12,984)
60,899
91 - 120
days
in arrears
49
-
-
49
(1)
-
49
45,643
31,033
8,380
6,230
(9,643)
326
-
-
326
(4)
-
326
42,326
29,167
9,274
3,885
(12,531)
476
225
-
251
(539)
-
476
111,088
60,987
17,843
32,258
(68,246)
8,708
2,924
-
5,784
(3,709)
-
8,708
112,178
83,825
19,685
8,668
8,119
1,424
-
6,695
(6,117)
-
8,119
693,118
496,112
140,337
56,669
408,233
142,928
44,208
221,097
(13,200)
285,640
122,593
3,899,738
2,797,570
777,474
324,694
(825,163)
(69,702)
(562,771)
Total Non-
Current
12,193
6,351
5,842
-
-
-
12,193
485,000
432,688
18,822
33,490
(32,338)
-
-
-
-
-
610,303
-
42,326
111,088
41,064
112,178
693,118
3,289,435
485,000
42,652
(12,535)
30,117
111,564
(68,785)
42,779
41,551
(28,437)
13,114
120,886
(73,411)
47,475
701,237
(568,888)
4,307,971
(838,363)
132,349
3,469,608
497,193
(32,338)
464,855
121 - 150
151 - 180
181 - 210
211 - 250
More than
More than
days
in arrears
days
in arrears
days
in arrears
in arrears
days in arrears
days in arrears
Total Current
251
365
Total Non-
Current
12.31.2020
79
-
-
79
-
-
79
35,677
24,545
7,364
3,768
(9,225)
2,325
2,065
-
260
(307)
-
2,325
62,082
47,689
10,669
3,724
-
-
35,677
62,082
35,756
(9,225)
26,531
64,407
(40,980)
23,427
(40,673)
(18,550)
3,042
2,968
-
74
(2,968)
-
3,042
91,245
61,763
20,894
8,588
(51,215)
2,665
643,944
2,665
(2,456)
-
-
-
2,665
660,271
438,879
142,121
79,271
(491,003)
106,602
55,544
481,798
(6,196)
514,703
129,241
3,049,108
2,094,845
666,505
287,758
(678,312)
29,555
29,536
-
19
(29,103)
-
29,555
324,821
262,530
15,498
46,793
(35,912)
-
-
506,230
-
91,245
660,271
2,542,878
324,821
94,287
(54,183)
40,104
662,936
3,693,052
(493,459)
(684,508)
169,477
3,008,544
354,376
(65,015)
289,361
days
487
-
-
487
(482)
-
487
41,064
30,209
6,856
3,999
(27,955)
days
288
288
-
-
-
-
288
30,510
19,323
6,000
5,187
-
30,510
30,798
(18,550)
12,248
347
301
-
46
(7)
-
347
47,880
35,657
8,207
4,016
(15,223)
-
47,880
48,227
(15,230)
32,997
1
-
-
1
-
-
1
42,813
30,426
7,597
4,790
(13,056)
-
42,813
42,814
(13,056)
29,758
Trade receivables
Trade receivables, Generation and Transmission
- Large Clients
- Institutional Clients
- Other
Allowance for impairment
Unbilled services
Billed services
Trade receivables, Distribution
- Mass-market Clients
- Large Clients
- Institutional Clients
Allowance for impairment
Unbilled services
Billed services
Total trade receivables, gross
Total Allowance for impairment
Total trade receivables, net
- Large Clients
- Institutional Clients
- Other
Allowance for impairment
Unbilled services
Billed services
Trade receivables, Distribution
- Mass-market Clients
- Large Clients
- Institutional Clients
Allowance for impairment
Unbilled services
Billed services
Total trade receivables, gross
Total Allowance for impairment
Total trade receivables, net
Trade receivables
Trade receivables, Generation and Transmission
5,453
3,657
162
1,634
(23)
-
5,453
374,102
296,626
58,619
18,857
(6,285)
1,751
1,226
-
525
(2)
-
1,751
125,180
97,130
20,012
8,038
(12,611)
-
-
374,102
125,180
2,598,215
(27,829)
2,570,386
379,555
(6,308)
373,247
126,931
(12,613)
114,318
449
305
144
-
-
-
449
62,821
46,331
11,091
5,399
-
62,821
63,270
(11,343)
51,927
(11,343)
(12,984)
1,176
333
843
-
-
-
1,176
72,707
41,075
9,923
21,709
-
72,707
73,883
(12,984)
60,899
91 - 120
days
49
-
-
49
(1)
-
49
45,643
31,033
8,380
6,230
(9,643)
20,280
20,098
-
182
(6)
-
20,280
319,164
238,880
58,211
22,073
(4,185)
886
863
-
23
(3)
-
886
123,248
90,411
20,058
12,779
(10,913)
43,848
3,946
39,902
-
-
-
43,848
73,214
42,427
10,984
19,803
(10,529)
-
-
-
-
319,164
123,248
73,214
45,643
339,444
(4,191)
335,253
124,134
(10,916)
113,218
117,062
(10,529)
106,533
45,692
(9,644)
36,048
380,941
132,533
44,046
204,362
(2,317)
285,640
95,301
2,217,274
1,580,451
475,627
161,196
(25,512)
610,303
1,606,971
570,481
76,662
55,544
438,275
(455)
514,703
55,778
1,565,241
1,069,469
374,227
121,545
(19,320)
506,230
1,059,011
2,135,722
(19,775)
2,115,947
12-31-2021
12.31.2021
Up-to-date
portfolio
1 - 30 days
in arrears
31 - 60 days
61 - 90 days
91 - 120 days
in arrears
in arrears
in arrears
121 - 150
days
in arrears
151 - 180
days
in arrears
181 - 210
days
in arrears
211 - 250
days
in arrears
More than
251
days in arrears
More than
365
days in arrears
Total Current
Total Non-
Current
347
301
-
46
(7)
-
347
47,880
35,657
8,207
4,016
(15,223)
-
47,880
48,227
(15,230)
32,997
326
-
-
326
(4)
-
326
42,326
29,167
9,274
3,885
(12,531)
476
225
-
251
(539)
-
476
111,088
60,987
17,843
32,258
(68,246)
487
-
-
487
(482)
-
487
41,064
30,209
6,856
3,999
(27,955)
8,708
2,924
-
5,784
(3,709)
-
8,708
112,178
83,825
19,685
8,668
8,119
1,424
-
6,695
(6,117)
-
8,119
693,118
496,112
140,337
56,669
(69,702)
(562,771)
408,233
142,928
44,208
221,097
(13,200)
285,640
122,593
3,899,738
2,797,570
777,474
324,694
(825,163)
12,193
6,351
-
5,842
-
-
12,193
485,000
432,688
18,822
33,490
(32,338)
-
-
-
-
-
610,303
-
42,326
111,088
41,064
112,178
693,118
3,289,435
485,000
42,652
(12,535)
30,117
111,564
(68,785)
42,779
41,551
(28,437)
13,114
120,886
(73,411)
47,475
701,237
(568,888)
4,307,971
(838,363)
132,349
3,469,608
497,193
(32,338)
464,855
12-31-2020
12.31.2020
Up-to-date
portfolio
1 - 30 days
in arrears
31 - 60 days
61 - 90 days
in arrears
in arrears
in arrears
121 - 150
days
in arrears
151 - 180
days
in arrears
181 - 210
days
in arrears
211 - 250
days
in arrears
More than
251
days in arrears
More than
365
days in arrears
Total Current
Total Non-
Current
1
-
-
1
-
-
1
42,813
30,426
7,597
4,790
(13,056)
-
42,813
42,814
(13,056)
29,758
79
-
-
79
-
-
79
35,677
24,545
7,364
3,768
(9,225)
2,325
2,065
-
260
(307)
-
2,325
62,082
47,689
10,669
3,724
288
-
-
288
-
-
288
30,510
19,323
6,000
5,187
(40,673)
(18,550)
3,042
2,968
-
74
(2,968)
-
3,042
91,245
61,763
20,894
8,588
(51,215)
2,665
643,944
-
-
2,665
(2,456)
-
2,665
106,602
55,544
481,798
(6,196)
514,703
129,241
660,271
438,879
142,121
79,271
(491,003)
3,049,108
2,094,845
666,505
287,758
(678,312)
29,555
29,536
-
19
(29,103)
-
29,555
324,821
262,530
15,498
46,793
(35,912)
-
-
35,677
62,082
35,756
(9,225)
26,531
64,407
(40,980)
23,427
-
30,510
30,798
(18,550)
12,248
-
-
506,230
-
91,245
660,271
2,542,878
324,821
94,287
(54,183)
40,104
662,936
3,693,052
(493,459)
(684,508)
169,477
3,008,544
354,376
(65,015)
289,361
Consolidated Financial Statements 569
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Since not all of our commercial databases in our Group’s different consolidated entities distinguish whether the final electricity
service consumer is an individual or legal entity, the main management segmentation used by all consolidated entities to
monitor and follow up on trade receivables is the following:
− - Mass-market customers
− - Large customers
− - Institutional customers
- By type of portfolio:
Type of Portfolio
GENERATION AND TRANSMISSION
Non-renegotiated portfolio
- Large Clients
- Institutional Clients
- Other
Renegotiated portfolio
- Large Clients
- Institutional Clients
- Other
DISTRIBUTION
Non-renegotiated portfolio
- Mass-market Clients
- Large Clients
- Institutional Clients
Renegotiated portfolio
- Mass-market Clients
- Large Clients
- Institutional Clients
Total gross portfolio
Type of Portfolio
GENERATION AND TRANSMISSION
Non-renegotiated portfolio
- Large Clients
- Institutional Clients
- Other
Renegotiated portfolio
- Large Clients
- Institutional Clients
- Other
DISTRIBUTION
Non-renegotiated portfolio
- Mass-market Clients
- Large Clients
- Institutional Clients
Renegotiated portfolio
- Mass-market Clients
- Large Clients
- Institutional Clients
Total gross portfolio
570
Integrated Annual Report Enel Américas 2021
12-31-2021
12-31-2021
Up-to-date
portfolio
1 - 30 days
in arrears
31 - 60 days
in arrears
61 - 90 days
in arrears
91 - 120 days
in arrears
121 - 150
151 - 180
181 - 210
211 - 250
More than
days
in arrears
days
in arrears
days
in arrears
days
in arrears
251
days in arrears Total Current
Current
Total Non-
380,941
133,912
43,486
203,543
-
-
-
-
2,113,807
1,510,037
452,614
151,156
103,467
70,415
23,012
10,040
5,453
3,657
162
1,634
-
-
-
-
352,457
278,741
56,132
17,584
21,645
17,885
2,487
1,273
1,751
1,226
-
525
-
-
-
-
109,956
84,853
18,135
6,968
15,224
12,276
1,878
1,070
449
305
-
144
-
-
-
-
51,754
36,992
10,079
4,683
11,067
9,339
1,012
716
1,176
333
-
843
-
-
-
-
61,799
31,769
8,856
21,174
10,908
9,305
1,068
535
2,598,215
379,555
126,931
63,270
73,883
48,227
42,652
111,564
41,551
822,123
4,307,971
497,193
12-31-2020
12-31-2020
Up-to-date
portfolio
1 - 30 days
in arrears
31 - 60 days
in arrears
61 - 90 days
in arrears
570,481
76,662
55,544
438,275
-
-
-
-
1,444,504
979,330
349,489
115,685
120,737
90,140
24,737
5,860
20,280
20,098
-
182
-
-
-
-
294,453
221,045
53,788
19,620
24,711
17,835
4,423
2,453
886
863
-
23
-
-
-
-
107,658
79,769
17,629
10,260
15,590
10,642
2,429
2,519
43,848
3,946
-
39,902
-
-
-
-
62,900
34,801
9,207
18,892
10,314
7,626
1,777
911
91 - 120
days
in arrears
49
-
-
49
-
-
-
-
35,884
23,547
7,070
5,267
9,759
7,484
1,311
964
2,135,722
339,444
124,134
117,062
45,692
42,814
35,756
64,407
30,798
757,223
347
301
-
46
-
-
-
-
37,878
27,271
7,018
3,589
10,002
8,386
1,189
427
326
326
-
-
-
-
-
-
32,692
22,000
7,561
3,131
9,634
7,755
1,394
485
476
225
251
-
-
-
-
-
101,521
53,562
16,147
31,812
9,567
7,095
1,872
600
487
16,827
4,347
487
12,480
408,233
144,306
43,648
220,279
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
32,813
23,352
5,794
3,667
8,251
6,358
1,222
671
705,509
512,046
143,181
50,282
99,787
67,891
16,841
15,055
3,600,186
2,580,623
725,517
294,046
299,552
216,705
51,975
30,872
12,193
12,163
-
30
-
-
-
-
339,418
335,099
4,137
182
145,582
118,050
9,094
18,438
121 - 150
151 - 180
181 - 210
211 - 250
More than
days
in arrears
days
in arrears
days
in arrears
days
in arrears
251
days in arrears Total Current
Total Non-
Current
79
260
288
2,739
1
-
-
1
-
-
-
-
33,666
23,670
6,316
3,680
9,147
6,755
1,282
1,110
79
-
-
-
-
-
-
27,360
19,382
5,195
2,783
8,317
5,164
2,169
984
2,325
2,065
-
-
-
-
-
55,695
43,181
9,579
2,935
6,387
4,508
1,090
789
288
-
-
-
-
-
-
23,619
14,971
4,769
3,879
6,891
4,353
1,230
1,308
5,707
2,968
-
-
-
-
-
147,615
73,748
86,820
57,309
15,400
14,111
643,944
106,602
55,544
481,798
-
-
-
-
610,657
256,749
298,673
211,816
55,848
31,009
3,693,052
664,696
2,750,435
443,333
1,883,029
628
-
-
628
28,927
28,927
-
-
196,287
191,559
4,512
216
128,534
99,922
8,561
20,051
354,376
Type of Portfolio
GENERATION AND TRANSMISSION
Non-renegotiated portfolio
- Large Clients
- Institutional Clients
- Other
Renegotiated portfolio
- Large Clients
- Institutional Clients
- Other
DISTRIBUTION
Non-renegotiated portfolio
- Mass-market Clients
- Large Clients
- Institutional Clients
Renegotiated portfolio
- Mass-market Clients
- Large Clients
- Institutional Clients
Total gross portfolio
Type of Portfolio
GENERATION AND TRANSMISSION
Non-renegotiated portfolio
- Large Clients
- Institutional Clients
- Other
Renegotiated portfolio
- Large Clients
- Institutional Clients
- Other
DISTRIBUTION
Non-renegotiated portfolio
- Mass-market Clients
- Large Clients
- Institutional Clients
Renegotiated portfolio
- Mass-market Clients
- Large Clients
- Institutional Clients
Total gross portfolio
Up-to-date
portfolio
1 - 30 days
in arrears
31 - 60 days
61 - 90 days
91 - 120 days
in arrears
in arrears
in arrears
12-31-2021
1,751
1,226
525
-
-
-
-
-
109,956
84,853
18,135
6,968
15,224
12,276
1,878
1,070
449
305
144
-
-
-
-
-
51,754
36,992
10,079
4,683
11,067
9,339
1,012
716
1,176
333
843
-
-
-
-
-
61,799
31,769
8,856
21,174
10,908
9,305
1,068
535
886
863
-
23
-
-
-
-
107,658
79,769
17,629
10,260
15,590
10,642
2,429
2,519
39,902
49
43,848
3,946
-
-
-
-
-
62,900
34,801
9,207
18,892
10,314
7,626
1,777
911
49
-
-
-
-
-
-
35,884
23,547
7,070
5,267
9,759
7,484
1,311
964
380,941
133,912
43,486
203,543
-
-
-
-
2,113,807
1,510,037
452,614
151,156
103,467
70,415
23,012
10,040
570,481
76,662
55,544
438,275
-
-
-
-
1,444,504
979,330
349,489
115,685
120,737
90,140
24,737
5,860
5,453
3,657
162
1,634
-
-
-
-
352,457
278,741
56,132
17,584
21,645
17,885
2,487
1,273
20,280
20,098
182
-
-
-
-
-
294,453
221,045
53,788
19,620
24,711
17,835
4,423
2,453
121 - 150
days
in arrears
151 - 180
days
in arrears
181 - 210
days
in arrears
12-31-2021
211 - 250
days
in arrears
More than
251
days in arrears Total Current
Total Non-
Current
347
301
-
46
-
-
-
-
37,878
27,271
7,018
3,589
10,002
8,386
1,189
427
326
-
-
326
-
-
-
-
32,692
22,000
7,561
3,131
9,634
7,755
1,394
485
476
225
-
251
-
-
-
-
101,521
53,562
16,147
31,812
9,567
7,095
1,872
600
487
-
-
16,827
4,347
-
487
12,480
408,233
144,306
43,648
220,279
-
-
-
-
32,813
23,352
5,794
3,667
8,251
6,358
1,222
671
-
-
-
-
-
-
-
-
705,509
512,046
143,181
50,282
99,787
67,891
16,841
15,055
3,600,186
2,580,623
725,517
294,046
299,552
216,705
51,975
30,872
12,193
12,163
-
30
-
-
-
-
339,418
335,099
4,137
182
145,582
118,050
9,094
18,438
2,598,215
379,555
126,931
63,270
73,883
48,227
42,652
111,564
41,551
822,123
4,307,971
497,193
12-31-2020
Up-to-date
portfolio
1 - 30 days
in arrears
31 - 60 days
61 - 90 days
days
in arrears
in arrears
in arrears
91 - 120
121 - 150
days
in arrears
151 - 180
days
in arrears
181 - 210
days
in arrears
12-31-2020
211 - 250
days
in arrears
More than
251
days in arrears Total Current
Total Non-
Current
1
-
-
1
-
-
-
-
33,666
23,670
6,316
3,680
9,147
6,755
1,282
1,110
79
-
-
79
-
-
-
-
27,360
19,382
5,195
2,783
8,317
5,164
2,169
984
2,325
2,065
-
260
-
-
-
-
55,695
43,181
9,579
2,935
6,387
4,508
1,090
789
288
-
-
288
-
-
-
-
23,619
14,971
4,769
3,879
6,891
4,353
1,230
1,308
5,707
2,968
-
2,739
-
-
-
-
643,944
106,602
55,544
481,798
-
-
-
-
664,696
2,750,435
443,333
1,883,029
147,615
73,748
86,820
57,309
15,400
14,111
610,657
256,749
298,673
211,816
55,848
31,009
3,693,052
628
-
-
628
28,927
28,927
-
-
196,287
191,559
4,512
216
128,534
99,922
8,561
20,051
354,376
Consolidated Financial Statements 571
2,135,722
339,444
124,134
117,062
45,692
42,814
35,756
64,407
30,798
757,223
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
COLOMBIA
PERÚ
ARGENTINA
BRAZIL
CENTROAMERICA
TOTAL
12.31.2021
12-31-2020
12.31.2021
12-31-2020
12.31.2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
Tolls
-
-
-
-
-
-
-
Tolls
-
-
Tolls Energy and
Tolls Energy and
Peajes
Tolls Energy and
Peajes Energy and
Tolls
capacity
Energía y
Potencia
585,845
4,554
3,952
16,876
894,789
17,941
971,272
585,845
4,556
812,333
3,971
16,876
895,147
17,943
1,082,282
Energy and
capacity
-
-
-
capacity
32,823
779,510
-
33,420
2
-
-
19
-
-
701,646
701,646
54,772
1,120,722
54,772
1,154,142
59,673
59,673
-
-
-
-
-
capacity
358
-
-
-
-
-
-
-
-
-
capacity
32,823
78,187
34,097
2
-
-
19
16,192
11,961
28,172
-
81,682
81,682
886,744
886,744
76,323
1,241,783
76,323 1,275,880
BRAZIL
CENTROAMERICA
TOTAL
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
Energy and
Tolls Energy and
Tolls Energy and
Tolls
Tolls Energy and
Tolls Energy and
Tolls
capacity
604,872
723,648
capacity
4,708
817,439
56,572
1,167,098
4,193
60,048
capacity
16,876
-
capacity
945,395
856,123
-
-
capacity
18,664
1,078,725
79,461
1,288,374
27,937
81,493
Energía y
Potencia
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
APPENDIX 3.2 Estimated sales and purchases of capacity and toll
This appendix forms an integral part of these consolidated financial statements.
Country
BALANCE
Current accounts receivable from related parties
Trade and other receivables, current
Trade and other receivables, non-current
Total Asset Estimate
Current accounts payable to related parties
Trade and other payables, current
Total Liability Estimate
Energy and
capacity
-
142,612
358
142,970
-
102,729
102,729
Tolls Energy and
capacity
-
61,067
78,187
139,254
677
30,139
30,816
-
3,069
-
3,069
-
12,218
12,218
Tolls Energy and
capacity
-
61,208
-
61,208
-
37,500
37,500
-
-
11,961
11,961
-
12,246
12,246
Tolls Energy and
capacity
-
61,975
-
61,975
-
52,233
52,233
-
10,318
-
10,318
-
9,333
9,333
Tolls Energy and
capacity
-
88,248
-
88,248
-
44,869
44,869
-
12,240
-
12,240
-
9,763
9,763
Tolls Energy and
capacity
-
68,720
-
68,720
-
38,689
38,689
-
-
-
-
-
-
-
País
INCOME STATEMENT
Energy sales
Energy purchases
COLOMBIA
PERU
ARGENTINA
12.31.2021
12-31-2020
12.31.2021
12-31-2020
12-31-2021
12-31-2020
Energy and
capacity
173,022
49,010
Tolls Energy and
capacity
129,017
28,552
3,336
13,282
Tolls Energy and
capacity
63,003
38,600
11,081
11,345
Tolls Energy and
capacity
64,115
54,038
10,620
9,607
Tolls Energy and
capacity
87,622
44,865
12,663
10,100
Tolls Energy and
capacity
68,154
38,686
-
-
572
Integrated Annual Report Enel Américas 2021
Country
BALANCE
Tolls Energy and
Tolls Energy and
Tolls Energy and
Tolls Energy and
Tolls Energy and
Tolls
Current accounts receivable from related parties
Trade and other receivables, current
Trade and other receivables, non-current
Total Asset Estimate
Current accounts payable to related parties
Trade and other payables, current
Total Liability Estimate
Energy and
capacity
358
-
-
-
-
-
capacity
-
61,067
78,187
677
30,139
30,816
142,612
3,069
61,208
10,318
61,975
12,240
88,248
142,970
3,069
139,254
61,208
10,318
61,975
12,240
88,248
capacity
capacity
capacity
-
-
-
11,961
11,961
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
102,729
102,729
12,218
12,218
12,246
12,246
37,500
37,500
9,333
9,333
52,233
52,233
9,763
9,763
44,869
44,869
capacity
68,720
68,720
-
-
-
38,689
38,689
-
-
-
-
-
-
-
COLOMBIA
PERÚ
ARGENTINA
BRAZIL
CENTROAMERICA
TOTAL
12.31.2021
12-31-2020
12.31.2021
12-31-2020
12.31.2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
Energy and
capacity
-
585,845
-
585,845
-
701,646
701,646
Tolls Energy and
capacity
32,823
779,510
-
812,333
33,420
1,120,722
1,154,142
2
4,554
-
4,556
-
54,772
54,772
Tolls Energy and
capacity
-
16,876
-
16,876
-
-
-
19
3,952
-
3,971
-
59,673
59,673
Peajes
-
-
-
-
-
-
-
Energía y
Potencia
-
-
-
-
-
-
-
Tolls Energy and
capacity
-
894,789
358
895,147
-
886,744
886,744
-
-
-
-
-
-
-
Peajes Energy and
capacity
32,823
2
971,272
17,941
78,187
-
1,082,282
17,943
34,097
-
1,241,783
76,323
76,323 1,275,880
Tolls
19
16,192
11,961
28,172
-
81,682
81,682
País
INCOME STATEMENT
Energy sales
Energy purchases
COLOMBIA
PERU
ARGENTINA
BRAZIL
CENTROAMERICA
TOTAL
12.31.2021
12-31-2020
12.31.2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
12-31-2021
12-31-2020
Energy and
capacity
173,022
49,010
Tolls Energy and
Tolls Energy and
Tolls Energy and
Tolls Energy and
Tolls Energy and
Tolls
3,336
13,282
capacity
129,017
28,552
11,081
11,345
capacity
63,003
38,600
10,620
9,607
capacity
64,115
54,038
12,663
10,100
capacity
87,622
44,865
capacity
68,154
38,686
-
-
Energy and
capacity
604,872
723,648
Tolls Energy and
capacity
817,439
1,167,098
4,708
56,572
Tolls Energy and
capacity
16,876
-
4,193
60,048
Tolls
-
-
Energía y
Potencia
-
-
Tolls Energy and
capacity
945,395
856,123
-
-
Tolls Energy and
capacity
1,078,725
1,288,374
18,664
79,461
Tolls
27,937
81,493
-
-
-
-
-
-
-
-
-
Consolidated Financial Statements 573
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APPENDIX No. 4 Detail of due dates of payments to suppliers
This appendix forms an integral part of these consolidated financial statements.
Balance as of
12-31-2021
Services
817,048
581,141
82,550
20,119
65,861
20,915
Other
Total
1,062,435
1,942,550
48,616
4,599
2,535
18,718
77,355
695,715
106,662
25,852
84,611
98,270
Goods
63,067
65,958
19,513
3,198
32
-
151,768
1,587,634
1,214,258
2,953,660
1,689,558
2,634,780
Balance as of
12-31-2021
Services
42,170
-
-
-
-
-
Goods
2,092
-
-
-
-
-
2,092
42,170
Other
26,389
20,731
25,277
25,690
46,273
387,492
531,852
Total
70,651
20,731
25,277
25,690
46,273
387,492
576,114
Balance as of
12-31-2021
Services
129,069
9,619
97,856
1,393,260
1,629,804
Other
Total
1,730,335
1,867,272
-
-
15,775
1,746,110
9,619
147,574
1,505,309
3,529,774
Goods
7,868
-
49,718
96,274
153,860
Balance as of
12-31-2020
Services
469,913
233,753
30,449
23,619
16,912
3,075
777,721
Other
1,321,209
96,755
15,620
124,617
19,770
111,587
Balance as of
12-31-2020
Services
56,933
7,211
34,671
703,458
802,273
Other
1,627,935
-
12,958
292,823
1,933,716
Total
1,895,904
382,515
49,946
148,609
43,144
114,662
Total
42,499
16,401
18,485
39,312
152,921
-
Total
1,745,052
24,621
60,322
1,074,403
2,904,398
Balance as of
12-31-2020
Goods
908
Services
24,552
Other
17,039
16,401
18,485
39,312
152,921
-
-
-
-
-
-
908
24,552
244,158
269,618
Goods
104,782
52,007
3,877
373
6,462
-
167,501
-
-
-
-
-
Goods
60,184
17,410
12,693
78,122
168,409
Suppliers with Payments Up-to-Date
Up to 30 days
From 31 to 60 days
From 61 to 90 days
Entre 91 y 120 días
From 121 to 365 days
More than 365 days
Total
Suppliers with Payments Overdue
Up to 30 days
From 31 to 60 days
From 61 to 90 days
From 91 to 120 days
From 121 to 365 days
More than 365 days
Total
Suppliers Detail
Energy suppliers
Fuel and gas suppliers
Asset acquisitions
Payables due for goods and services
Total
574
Integrated Annual Report Enel Américas 2021
Suppliers with Payments Up-to-Date
Up to 30 days
From 31 to 60 days
From 61 to 90 days
Entre 91 y 120 días
From 121 to 365 days
More than 365 days
Total
Suppliers with Payments Overdue
Up to 30 days
From 31 to 60 days
From 61 to 90 days
From 91 to 120 days
From 121 to 365 days
More than 365 days
Total
Suppliers Detail
Energy suppliers
Fuel and gas suppliers
Asset acquisitions
Payables due for goods and services
Total
151,768
1,587,634
1,214,258
2,953,660
Balance as of
12-31-2021
Services
817,048
581,141
82,550
20,119
65,861
20,915
Balance as of
12-31-2021
Services
42,170
-
-
-
-
-
Other
Total
1,062,435
1,942,550
48,616
4,599
2,535
18,718
77,355
695,715
106,662
25,852
84,611
98,270
Other
26,389
20,731
25,277
25,690
46,273
387,492
531,852
Total
70,651
20,731
25,277
25,690
46,273
387,492
576,114
Balance as of
12-31-2021
Services
129,069
9,619
97,856
1,393,260
1,629,804
Other
Total
1,730,335
1,867,272
-
-
15,775
1,746,110
9,619
147,574
1,505,309
3,529,774
Goods
63,067
65,958
19,513
3,198
32
-
Goods
2,092
-
-
-
-
-
Goods
7,868
-
49,718
96,274
153,860
Goods
104,782
52,007
3,877
373
6,462
-
167,501
Balance as of
12-31-2020
Services
469,913
233,753
30,449
23,619
16,912
3,075
777,721
Other
1,321,209
96,755
15,620
124,617
19,770
111,587
Total
1,895,904
382,515
49,946
148,609
43,144
114,662
1,689,558
2,634,780
Balance as of
12-31-2020
Goods
908
Services
24,552
-
-
-
-
-
-
-
-
-
-
Other
17,039
16,401
18,485
39,312
152,921
-
Total
42,499
16,401
18,485
39,312
152,921
-
2,092
42,170
908
24,552
244,158
269,618
Goods
60,184
17,410
12,693
78,122
168,409
Balance as of
12-31-2020
Services
56,933
7,211
34,671
703,458
802,273
Other
1,627,935
-
12,958
292,823
1,933,716
Total
1,745,052
24,621
60,322
1,074,403
2,904,398
Consolidated Financial Statements 575
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Press Release
Consolidated Financial Statements of Enel Américas group
AS OF DECEMBER 31, 2021
(Numbers expressed in millions of US dollars)
Cumulative revenues as of December 2021 showed a 31.7% increase compared to 2020, reaching US$16,192 million, mainly
explained by higher revenues in Brazil and, to a lesser extent, in Colombia and Peru, and also by the consolidation of EGP
Americas (EGPA) as of April 1, 2021. This was partially offset by lower revenues in Argentina.
In quarterly terms, revenues in the 4th quarter increased by 20.6% to US$4,514 million, explained by higher revenues in the 4
countries and the contribution of EGPA.
• EBITDA in 2021 increased by 26.1% as compared to 2020, reaching US$4,102 million. This increase includes US$247 million
(US$99 million in 2020) linked to a change in the presentation of certain revenues related to the Distribution business in
Brazil 1, which previously formed part of the financial result. Excluding this effect, EBITDA would have increased by 22.3%.
This is explained by EGPA's contribution of US$374 million and better results in Brazil, Colombia, and Peru, partially offset by
lower EBITDA in Argentina and a negative impact of US$185 million due to the exchange rate.
In quarterly terms, EBITDA for the 4th quarter of 2021 increased by 14.7% compared to the same period of the previous year
reaching US$1,179 million, explained by the aforementioned EGPA contribution and higher EBITDA in Brazil, Colombia, and
Peru, partially offset by lower EBITDA in Argentina and a negative impact of US$59 million due to exchange rate.
Without EGPA's contribution, EBITDA would have increased by 14.6% in cumulative terms and by 3.8% in quarterly terms.
Country
Argentina
Brazil
Colombia
Peru
Central America
Enel Américas (*)
Cumulative
FY 2021
FY 2020
153
1,948
1,352
522
158
4,102
186
1,438
1,180
476
-
3,253
EBITDA (million US$)
%
(17.6%)
35.5%
14.6%
9.6%
-
26.1%
Quarterly
Q4 2021
Q4 2020
40
607
352
131
54
48
580
289
118
-
1,179
1,027
%
(16.6%)
4.8%
22.0%
10.8%
-
14.7%
(*) Includes Holding and Adjustments
• Operating Income (EBIT) increased by 23.8% to US$ 2,664 million in cumulative terms as of December explained by higher EBITDA,
partially offset by higher depreciation and amortization, and greater impairment loss. In the 4th quarter, EBIT decreased by 5.3%
to US$701 million, which is mainly explained by higher recognition of the accounting asset impairment in Argentina and Brazil.
• In cumulative terms Net Income attributable to the parent company reached US$741 million as of December, 10.2% less
than in the same period of 2020. In quarterly terms, net income attributable to the parent company reached US$119 million,
a 64.9% decrease as compared to the 4th quarter of 2020. This is mainly explained by higher asset impairment losses in
Argentina, Brazil and Peru, higher financial expenses in Brazil and Argentina, and higher taxes due to better performance of
operations and tax rate changes in Argentina and Colombia.
• Financial debt reached US$5,870 million, which represents 32.6% more than at the end of 2020, mainly explained by higher
net debt in Enel Brasil, in the distribution companies in Brazil, in Enel Generación Perú and in Codensa which was partially
offset by a decrease in Enel Américas Holding net debt.
• CAPEX in 2021 reached US$2,971 million, which includes US$1,033 million from EGPA. Without considering the latter, CAPEX increased
by 36.1% compared to the same period of the previous year, mainly explained by increases in Enel Goiás and Enel Sao Paulo.
• In quarterly terms, CAPEX reached US$1,163 million including EGPA and US$639 million excluding it, representing increases
of 163% and 44% respectively.
1 See section II “Change in Accounting Policy” of this Press Release.
576
Integrated Annual Report Enel Américas 2021
Information relevant to the analysis of
these Financial Statements
I. Perimeter Change, incorporation of EGP Américas
On September 21, 2020, the Board of Directors of Enel Américas unanimously resolved to initiate a merger process aimed
at the acquisition by Enel Américas of EGP Américas SpA ("EGP Américas") through a merger with and into Enel Américas
(hereinafter the "Merger"). Immediately prior to the Merger, EGP Américas, a newly formed company, would keep Enel Green
Power S.p.A.'s renewable energy generation business in Central and South America, excluding Chile.
The Merger, which entered into force on April 1, 2021, is in line with the Group's strategy and development plans, considering
the high priority in the promotion of renewable energies carried out in the region, which makes it possible to accelerate the
positioning of Enel Américas within the energy transition scenario and turn it into the leading company in Central and South
America in energy generation and distribution. As a result of the Merger, Enel Américas has strengthened its renewable energy
generation business, as well as diversified geographically, through the incorporation of assets in Costa Rica, Guatemala, and
Panama, in addition to acquiring new assets in South American countries where it was already present, increasing its installed
capacity in the region by 5 GW of operating and construction capacity, in addition to a pipeline that will be evaluated during
the operation.
In an extraordinary meeting of shareholders held on December 18, 2020, the shareholders of Enel Américas approved the
Merger, subject to the compliance with certain conditions precedent.
Finally, the Merger was completed on April 1, 2021, incorporating the following main companies from that date on:
• Enel Green Power Brasil Participacoes Ltda.
• Enel Green Power Costa Rica S.A.
• Enel Green Power Colombia S.A.S ESP
• Enel Green Power Guatemala S.A.
• Enel Green Power Panamá S.R.L.
• Enel Green Power Perú S.A.C.
• Enel Green Power Argentina S.A.
• Energía y Servicios South América SpA
• ESSA2 SpA.
On the same date, April 1, 2021, all the amendments to the bylaws of Enel Américas approved by the Shareholders Meeting,
consisting of the respective capital increase and the elimination of the limitations and restrictions established in the bylaws by
application of Title XII of Decree Law No. 3,500 of 1980 – with the sole exception of the Investment and Financing Policy that
remains – became effective, in particular, in the case of a shareholder and his related persons not being able to concentrate
more than 65% of the voting capital in Enel Américas.
Consolidated Financial Statements 577
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II. Change in Accounting Policy
As a result of the review of the accounting policies applied, it was concluded that in order to achieve a better presentation of
the operational and financial performance of the electric power distribution business developed by its subsidiaries in Brazil,
the updating of the financial assets, which represent the value to be recovered at the end of the corresponding concessions
(compensation value) and originally presented as financial income, could be more appropriately classified as operating
revenues, along with other revenues related to its core business.
The justification of this change in criteria is detailed in Note 2.2. c) of the consolidated financial statements.
In accordance with the provisions of IAS 8 "Accounting Policies, Changes in Accounting Estimates and Errors", as a result of the
accounting change explained in the preceding paragraphs, the Group made retrospective reclassifications to the comprehensive
consolidated income statements for the years ended December 31, 2020, and 2019, originally issued on February 25, 2021.
The reclassifications carried out did not change the total assets, equity, net result, and cash flows.
For the purposes of this Press Release all the figures presented in consolidated terms, as well as those individual figures that
affect each of the Distribution Companies in Brazil, have been reclassified to achieve adequate comparability for the years
2021 and 2020, and for their respective last quarters ended on those dates.
To get a better analysis, the amounts by which financial income has decreased and other operating income has increased are
shown in the figures presented in this Press Release.
Affected Income
Statements Lines
Other operating income
Financial income
Net effect on results
FY 2020
Q4 2020 (million US$)
9M 2021
99
(99)
-
70
(70)
-
165
(165)
-
Summary by business segment
Generation and transmission
The generation and transmission business showed a 42.1% EBITDA increase as compared to the previous year, reaching
US$1,965 million. This is mainly explained by the incorporation of EGPA into the consolidation perimeter whose contribution
at EBITDA level was US$ 374 million. Without this effect, EBITDA would have increased by 15.1%.
On a quarterly basis, EBITDA increased by 42.4% also mainly due to the contribution of EGPA. Without this, EBITDA would
have increased by 13.3% explained by better results in in the 4 countries.
Generation business
FY 2021
71,254
48,739
FY 2020
59,232
40,455
Var %
20.3%
20.5%
Q4 2021
18,547
12,052
Q4 2020
15,755
10,237
Var %
17.7%
17.7%
Total Sales (GWh)
Total Generation
(GWh)
Distribution
In distribution, EBITDA increased by 13.9% in 2021 compared to the previous year, reaching US$2,228 million. This is mainly
explained by improved results in Brazil, Colombia and Peru, partially offset by worse performance in Argentina and a negative
impact from the exchange rate of US$ 97 million.
On a quarterly basis, EBITDA in Distribution business decreased by 2.8% to US$641 million. This is mainly explained by lower
results in Brazil, Peru and Argentina affected by the negative conversion effect of the devaluation of local currencies in relation
to the US dollar.
At the end of 2021, the number of consolidated clients showed an increase of 541 thousand clients or 2.1% as compared
to the previous year, reaching nearly 26.2 million, while cumulative physical sales increased by 4.0% and 0.4% in the quarter.
578
Integrated Annual Report Enel Américas 2021
Distribution business
Total Sales (GWh)
FY 2021
119,845
FY 2020
115,213
Number of Clients
26,180,129
25,639,531
Var %
4.0%
2.1%
Q4 2021
30,372
Q4 2020
30,254
26,180,129
25,639,531
Var %
0.4%
2.1%
Financial summary
The Company’s available liquidity has remained strong, as shown below:
• Cash and cash equivalents
• Cash and cash equiv. + cash investments over 90 days
• Available committed lines of credit(*)
US$1,396 million
US$1,531 million
US$1,547 million
(*) It includes four credit lines committed between parties related to Enel Finance International (EFI). One of them from Enel Américas for an available
amount of US$500 million, another from Enel Brasil for an available balance of US$143 million, another from EGP Peru for an available balance of
US$24 million, and another from EGP Costa Rica for an available balance of US$10 million.
The average nominal interest rate in December 2021 increased to 6.1% from 4.9 % in December 2020, mainly influenced by
the inclusion of debt from the merger of Enel Green Power companies and an upward trend in the indices associated with
variable rates of debts in Brazil. This is partially offset by better rate conditions in the refinancing of debts in Colombia and Peru.
Hedging and protection:
To mitigate the financial risks associated with foreign exchange rate and interest rate fluctuations, Enel Américas S.A. has
established policies and procedures aimed at protecting its financial statements against the volatility of these variables.
• Enel Américas Group´s foreign exchange rate risk hedging policy establishes that there must be a balance between the
index currency of the flows generated by each company and the currency in which they assume any type of debt. Therefore,
the Enel Américas Group has entered into cross currency swaps of US$ 1,662 million and forwards of US$ 1,074 million.
• To reduce the volatility of the financial statements stemming from interest rate changes, Enel Américas Group keeps an
adequate debt structure balance. To achieve the above, we have entered into interest rate swaps totaling US$513 million.
Markets in which the company operates
Enel Américas owns and operates generation, transmission and distribution companies in Argentina, Brazil, Colombia, Costa
Rica, Guatemala, Panama, and Peru. Virtually all the revenues and cash flows come from the operations of our subsidiaries
and associates in these seven countries.
Generation and Transmission Business Segment
In total, the net installed capacity of the Enel Américas Group reached 15,926 MW as of December 31, 2021. 68.6% of the
consolidated generation capacity comes from hydroelectric, wind and solar sources and 31.4% from thermal sources. This
capacity and the mix of energy sources are achieved thanks to the recent incorporation of EGPA, which is expected to continue
growing in the future, increasing over time the percentage of renewable generation sources.
The Group carries out the generation business through the subsidiaries Enel Generación Costanera, Enel Generación el Chocón,
Central Dock Sud and Enel Green Power Argentina S.A. in Argentina, EGP Cachoeira Dourada, Enel Generación Fortaleza,
EGP Volta Grande, and Enel Green Power Brasil Participacoes Ltda. in Brazil, Enel Green Power Costa Rica S.A. in Costa Rica,
Emgesa and Enel Green Power Colombia S.A.S ESP in Colombia, Enel Green Power Guatemala S.A. in Guatemala, Enel Green
Power Panama S.R.L. in Panama and Enel Generación Perú, Enel Generación Piura, and Enel Green Power Perú S.A.C. in Peru.
The electric power transmission business is mainly carried out through an interconnection line between Argentina and Brazil,
through Enel CIEN, a subsidiary of Enel Brasil, with a 2,200 MW transmission capacity.
Consolidated Financial Statements 579
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The following table shows the key physical indicators for the generation segment, in cumulative and quarterly terms, as of
December 31, 2021, and 2020 for each subsidiary.
Markets in
which operates
Energy Sales (GWh)
Market Share
Cumulative
Quarterly
Company
FY 2021
FY 2020
% Q4 2021 Q4 2020
December
2021
December
2020
%
Enel Generación Costanera S.A.
SIN Argentina
Enel Generación El Chocón S.A.
SIN Argentina
Central Dock Sud
SIN Argentina
Enel Generación Perú S.A. (Edegel)
SICN Peru
Enel Generación Piura S.A. (Piura)
SICN Peru
Emgesa S.A.
EGP Cachoeira Dourada S.A. (*)
Enel Generación Fortaleza S.A.
EGP Volta Grande S.A.
EGP Brasil
EGP Colombia
EGP PERÚ
SIN Colombia
SICN Brasil
SICN Brasil
SICN Brasil
SICN Brasil
SIN Colombia
SICN Peru
EGP Centroamérica
(**)
5,695
2,028
5,378
9,905
715
17,589
7,389
5,014
1,512
12,481
97
814
2,637
6,518
2,924
4,461
9,642
616
17,539
11,896
3,636
2,000
-
-
-
-
(12.6%)
(30.6%)
20.6%
2.7%
16.1%
0.3%
(37.9%)
37.9%
(24.4%)
-
-
-
-
739
427
1,447
2,457
189
4,582
1,686
1,207
314
4,336
36
294
833
1,523
535
1,376
2,465
198
4,238
3,540
1,333
547
-
-
-
-
(51.5%)
(20.2%)
5.2%
(0.3%)
(4.5%)
8.1%
(52.4%)
(9.5%)
(42.6%)
-
-
-
-
4,3%
1,5%
4,0%
18,3%
1,3%
23,8%
1,5%
1,0%
0,3%
(***)
(***)
(***)
(***)
5.1%
2.3%
3.5%
19.6%
1.3%
24.9%
4.2%
0.8%
0.4%
-
-
-
-
Total
71,254
59,232
20.3%
18,547
15,755
17.7%
(*) As of December 31, 2020, the reported figure was 19,660 GWh and 5,402 GWh in cumulative terms and for the fourth quarter, respectively, which
included 7,764 GWh in cumulative terms and 1,862 GWh for the fourth quarter, corresponding to the energy that EGP Cachoeira Dourada S.A.
intermediated in the Brazilian electricity market. As of this year, this intermediation business is carried out by Enel Trading Brasil, so for comparative
purposes the aforementioned figures have been excluded from the physical sales of 2020.
(**) Companies from Costa Rica, Guatemala, and Panama, participate in their local SEN (Costa Rica), SEN (Guatemala) and SIN (Panama) markets
respectively, and additionally are part of the MER (Regional Electricity Market), which is a global market that covers the 6 Central American countries.
(***) The market share of the EGP Américas Companies that were incorporated on April 1, 2021, has not been incorporated, as nine months of
operation are not representative of the actual market share held in each of their countries.
Distribution business segment
The distribution business is carried out through the following subsidiaries: Edesur in Argentina, Enel Distribución Río, Enel
Distribución Ceará, Enel Distribución Goiás and Enel Distribución Sao Paulo in Brazil, Codensa in Colombia, and Enel Distribución
Perú in Peru. These companies serve the main cities in Latin America, delivering electric service to more than 26 million
customers.
The following tables show some key indicators of the distribution segment by subsidiary, in cumulative and quarterly terms
as of December 31 of 2021, and 2020:
Cumulative
Quarterly
Energy Sales (GWh) (*)
Energy losses (%)
Company
FY 2021
FY 2020
%
Q4 2021
Q4 2020
(**)
Empresa Distribuidora Sur
(Edesur)
Enel Distribución Perú
Enel Distribución Río
Enel Distribución Ceará
Enel Distribución Goiás
Enel Distribución Sao Paulo
Codensa
Total
16,735
15,888
5.3%
4,132
3,770
8,130
11,489
12,731
15,076
41,086
14,598
7,578
11,228
11,866
14,469
40,350
13,834
119,845
115,213
7.3%
2.3%
7.3%
4.2%
1.8%
5.5%
4.0%
2,069
2,883
3,372
3,822
10,279
3,815
30,372
1,994
3,027
3,286
3,868
10,643
3,666
30,254
%
9.6%
3.8%
(4.8%)
2.6%
(1.2%)
(3.4%)
4.1%
0.4%
December
2021
December
2020
18.0%
18.9%
8.5%
20.5%
16.1%
11.3%
10.3%
7.5%
12.6%
8.8%
22.1%
15.9%
11.4%
10.6%
7.6%
13.0%
(*) Sales to end customers and tolls are included.
(**) The energy sales data reported for the cumulative period and fourth quarter ended December 31, 2020, were 30,501 GWh and have been modi-
fied to standardize slight improvements in the criteria considerations used to obtain figures in the Brazilian distribution subsidiaries.
580
Integrated Annual Report Enel Américas 2021
Company
Empresa Distribuidora Sur
(Edesur)
Enel Distribución Perú
Enel Distribución Río
Enel Distribución Ceará
Enel Distribución Goiás
Enel Distribución Sao Paulo
Codensa
Total
December
2021
2.549
Clients (th)
December
2020
2.508
1.491
3.030
4.057
3.291
8.053
3.709
1.455
2.948
4.011
3.207
7.896
3.615
26.180
25.640
Clients/Employess
December
2021
729
December
2020
720
2.424
3.150
3.652
2.491
1.813
2.358
1.937
2.462
2.957
3.575
2.856
1.350
2.352
1.744
%
1.6%
2.5%
2.8%
1.1%
2.6%
2.0%
2.6%
2.1%
%
1.3%
(1.5%)
6.5%
2.2%
(12.8%)
34.3%
0.3%
11.1%
The following table shows revenues from energy sales by business segment, customer category, and country, in cumulative
and quarterly terms as of December 31 of 2021 and 2020:
Argentina
Brazil
Colombia
Peru
Central
America
Total Segments
Structure and
adjustments
Total
Cumulative figures (million US$)
FY
2021
FY
2020
FY
2021
FY
2020
FY
2021
FY
2020
221
221
2,451
1,041 1,237 1,129
388
214
756
637
FY
2021
547
279
FY
2020
490
274
FY
2021
214
160
791
351
415
353
196
189
-
-
-
-
-
221
221
1,272
468
Other Customers
-
-
-
8
Distribution
Residential
Commercial
Industrial
Other
738
310
205
139
84
738
360
254
68
56
6,522
5,168
3,865
3,045
1,539
1,239
452
666
370
514
66
-
860
512
204
91
53
139
-
760
455
181
79
45
66
6
841
790
34
1
16
845
474
87
168
116
24
3
54
-
-
-
(313)
(265)
(364)
(324)
(147)
(148)
FY
2020 FY 2021
FY
2020
FY
2021
FY
2020 FY 2021
FY
2020
-
-
-
-
-
-
-
-
-
-
-
4,670
2.881
(820)
1,583
1,125
(820)
(737)
(727)
3.850
2.144
763
398
1,402
893
1,679
6
852
11
8,961
7,511
5,477
4,334
1,982
1,761
683
819
685
731
-
-
-
(4)
-
(4)
-
-
(10)
1,402
883
-
-
-
-
-
-
-
1,679
6
852
11
8,957
7,511
5,477
1,978
683
819
4,334
1,761
685
731
(824)
(737)
824
737
-
-
-
-
-
-
-
-
959
959
8,660
5,944 1,733
1,565 1,241
1,187
214
-
12,807
9,655
-
-
2,715
45.7%
168 10.7%
54
4.5%
214
-
3.152
32.7%
-
-
-
-
12,807
9,655
3.152
32.7%
Quarterly figures (million US$)
Argentina
Brazil
Colombia
Peru
Central
America
Total Segments
Structure and
adjustments
Total
Q4
2021
Q4
2020
Q4
2021
Q4
2020
Q4
2021
Q4
2020
Q4
2021
Q4
2020
Q4
2021
Q4
2020
Q4
2021
Q4
2020
Q4
2021
Q4
2020
Q4
2021
Q4
2020
57
44
-
-
57
-
202
85
56
38
23
-
-
44
-
159
100
33
20
6
757
124
650
50
328
200
275
162
151
78
132
73
251
152
111
98
49
52
382
440
-
8
1,682
1,508
1,145
463
143
(69)
782
414
96
216
17
-
226
134
57
26
9
15
-
200
107
56
26
11
23
1
210
199
8
-
3
6
1
214
114
25
50
25
-
-
(82)
(66)
(94)
(83)
(41)
(41)
78
62
-
16
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,371
1,101
464
285
(215)
(215)
(189)
(179)
1,156
249
912
106
411
302
495
1
505
9
2,320
2,081
1,563
1,103
584
207
(34)
528
192
258
-
-
-
(1)
-
(1)
-
-
(10)
411
292
-
-
-
-
-
-
-
495
1
505
9
2,319
2,081
1,563
1,103
583
207
(34)
528
192
258
(216)
(189)
216
189
-
-
259
203
2,357
2,092
460
392
320
305
78
-
3,475
2,993
56
27.6%
265
12.7%
68
17.3%
15
4.9%
78
-
482
16.1%
-
-
-
3,475
2,993
-
482
16.1%
Consolidated Financial Statements 581
Energy Sales
Revenues
Generation
Regulated
customers
Non regulated
customers
Spot Market
Less: Consolidation
adjustments
Energy Sales
Revenues
Variation in million
US$ and %.
Energy Sales
Revenues
Generation
Regulated
customers
Non regulated
customers
Spot Market
Other Customers
Distribution
Residential
Commercial
Industrial
Other
Less: Consolidation
adjustments
Energy Sales
Revenues
Variation in million
US$ and %.
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
I.- Analysis of the financial statements
1. Analysis of income statement
The income attributable to Enel Américas shareholders for the period ended on December 31, 2021 was US$741 million,
representing a 10.2% decrease in relation to the US$825 million income registered in the same period of the previous year.
During the fourth quarter of 2021, the income attributable to the shareholders of Enel Américas reached US$119 million,
registering a US$220 million decrease as compared to the fourth quarter of 2020, equivalent to a 64.9% decrease.
Below we present an item-by-item comparison of the income statement in cumulative and quarterly terms as of December
31, of 2021 and 2020:
CONSOLIDATED INCOME STATEMENT
(million US$)
FY 2021
FY 2020
Change
Change Q4 2021 Q4 2020
Change
%
Cumulative figures
Quarterly figures
Revenues
Sales
Other operating income
Procurements and Services
Energy purchases
Fuel consumption
Transportation expenses
Other variable costs
Contribution Margin
Personnel costs
Other fixed operating expenses
Gross Operating Income (EBITDA)
Depreciation and amortization
Impairment gains and impairment losses
reversal (Impairment losses) determined in
accordance with IFRS 9
Operating Income
Net Financial Income
Financial income
Financial expenses
Results by units of adjustments
(hyperinflation - Argentina)
Foreign currency exchange differences, net
Other Non Operating Income
Other gains (losses)
Results of companies accounted for by
participation method
Net Income Before Taxes
Income Tax
Net Income from Continuing Operations
Net Income attributable to owners of
parent
Net income attributable to non-
controlling interest
16,192
12,807
3,385
(10,451)
(7,711)
(117)
(1,020)
(1,603)
5,741
(730)
(909)
4,102
(993)
(445)
2,664
(728)
295
(1,052)
31
(2)
5
3
1
1,941
(806)
1,135
741
12,292
9,655
2,637
(7,556)
(5,338)
(138)
(1,016)
(1,064)
4,736
(565)
(918)
3,253
(858)
(243)
2,152
(412)
222
(768)
77
57
8
5
3
1,748
(567)
1,181
825
3,900
3,152
748
(2,895)
(2,373)
21
(4)
(539)
1,005
(165)
9
849
(135)
(202)
512
(316)
73
(284)
(46)
(59)
(3)
(2)
(2)
193
(239)
(46)
(84)
31.7%
32.7%
28.4%
(38.3%)
(44.5%)
15.4%
(0.4%)
(50.7%)
21.2%
(29.2%)
1.0%
26.1%
(15.7%)
(83.6%)
23.8%
(76.5%)
32.8%
(36.9%)
(60.0%)
(103.0%)
(42.2%)
(31.1%)
(62.3%)
11.0%
(42.3%)
(4.0%)
(10.2%)
4.514
3.475
1.039
(2.940)
(2.183)
(28)
(221)
(508)
1.574
(189)
(206)
1.179
(280)
(198)
701
(336)
86
(338)
(65)
(19)
3
3
0
368
(147)
221
119
3.742
2.993
749
(2.413)
(1.851)
(31)
(268)
(263)
1.329
(81)
(221)
1.027
(224)
(63)
740
(98)
71
(238)
19
50
0
0
(0)
642
(210)
432
339
%
Change
20.6%
16.1%
38.7%
(21.9%)
17.9%
(8.2%)
(17.5%)
93.1%
18.4%
134.3%
(6.9%)
14.7%
25.2%
772
482
290
(527)
(332)
3
47
(245)
245
(108)
15
152
(56)
(135)
211.9%
(39)
(5.3%)
(238)
(241.4%)
15
(100)
(84)
21.9%
42.1%
(433.7%)
(69)
(138.5%)
3
3
0
946.9%
508.3%
(293.1%)
(274)
(42.6%)
63
(211)
(220)
(29.9%)
(48.8%)
(64.9%)
394
356
38
10.6%
102
93
9
9.6%
Earning per share US$ (*)
0,00744
0,01085
(0,00341)
(31.4%)
0,00111
0,00445
(0,00334)
(75.1%)
(*) As of December 31, 2021, and 2020, the average number of outstanding common shares totaled 99,587,960,424 and
76,086,311,036 respectively.
582
Integrated Annual Report Enel Américas 2021
Ebitda
EBITDA for the period ended on December 31, 2021, was US$4,102 million, which shows a US$849 million increase, equivalent
to a 26.1% growth regarding the EBITDA of US$3,253 million compared to the same period which ended on December 31, 2020.
During the fourth quarter of 2021, Enel Américas' EBITDA reached US$1,179 million, presenting a US$152 million increase
as compared to the fourth quarter of 2020, equivalent to a 14.7% increase.
The growth in these figures can be mainly attributed to the improved economic performance of the Brazilian operations,
and the incorporation, on April 1, 2021, of the operations of EGP Central and South America, which, with a US$374 million
contribution as of December 31, 2021, and US$113 million in the fourth quarter ended on the same date, neutralize the
negative effect of conversion effects resulting from the devaluation of currencies totaling US$185 million and US$59 million
in cumulative and quarterly terms, respectively.
Operating revenues, operating costs, staff costs and other expenses by nature for the operations that determine our EBITDA,
broken down for each business segment, in cumulative and quarterly terms, are presented below for the period that ended
on December 31, 2021.
EBITDA BY BUSINESS SEGMENT /
COUNTRY
(million US$)
Generation and Transmission
businesses:
Argentina
Brazil
Colombia
Peru
Central America
Revenues Generation and
Transmission businesses
Distribution business:
Argentina
Brazil
Colombia
Peru
Revenues Distribution business
Less: consolidation adjustments
and other activities
Total consolidated Revenues Enel
Américas
Generation and Transmission
businesses:
Argentina
Brazil
Colombia
Peru
Central America
Procurement and Services
Generation and Transmission
businesses
Distribution business:
Argentina
Brazil
Colombia
Peru
Procurement and Services
Distribution business
Less: consolidation adjustments
and other activities
Total consolidated Procurement
and Services Enel Américas
Cumulative figures
Quarterly figures
FY 2021
FY 2020
Change
% Change
Q4 2021
Q4 2020
Change
% Change
228
2,551
1,266
573
233
4,851
794
8,761
1,707
895
12,157
231
1,106
1,159
505
-
3,001
801
6,834
1,547
887
10,069
(3)
1,445
107
68
233
1,850
(7)
1,927
160
8
2,088
(1.2%)
130.7%
9.2%
13.4%
-
61.7%
(0.9%)
28.2%
10.3%
1.0%
20.7%
60
810
335
156
88
1,449
225
2,345
448
226
3,244
50
664
288
140
-
1,142
192
1,965
413
232
2,802
10
146
47
16
88
307
33
380
35
(6)
442
19.3%
22.1%
16.3%
11.6%
-
26.9%
17.1%
19.3%
8.6%
(2.6%)
15.8%
(816)
(778)
(38)
4.8%
(179)
(202)
23
(11.3%)
16,192
12,292
3,900
31.7%
4,514
3,742
772
20.6%
(17)
(1,907)
(408)
(175)
(43)
(2,550)
(529)
(6,573)
(1,012)
(605)
(8,719)
(19)
(781)
(413)
(162)
-
(1,375)
(530)
(4,938)
(886)
(599)
(6,953)
2
(1,126)
5
(13)
(43)
(1,175)
1
(1,635)
(126)
(6)
(1,766)
(9.3%)
144.1%
(1.0%)
7.9%
-
85.5%
(0.4%)
33.1%
14.2%
1.0%
25.4%
(4)
(618)
(112)
(48)
(20)
(802)
(142)
(1,748)
(271)
(161)
(2,322)
(3)
(526)
(106)
(48)
-
(683)
(108)
(1,421)
(238)
(161)
(1,928)
(1)
(92)
(6)
0
(20)
(119)
(34)
(327)
(33)
(0)
(394)
45.4%
17.6%
5.3%
(0.4%)
-
17.5%
31.6%
23.0%
13.9%
0.1%
20.5%
818
772
46
5.9%
184
198
(14)
(7.3%)
(10,451)
(7,556)
(2,895)
38.3%
(2,940)
(2,413)
(527)
21.9%
Consolidated Financial Statements 583
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Cumulative figures
Quarterly figures
FY 2021
FY 2020
Change
% Change
Q4 2021
Q4 2020
Change
% Change
(39)
(34)
(31)
(28)
(12)
(144)
(154)
(302)
(67)
(36)
(559)
(30)
(13)
(31)
(27)
-
(101)
(124)
(208)
(77)
(34)
(443)
(9)
(21)
(0)
(1)
(12)
(43)
(30)
(94)
10
(2)
(116)
27.4%
163.4%
1.1%
2.8%
-
42.1%
24.6%
45.5%
(13.1%)
5.7%
26.4%
(13)
(7)
(8)
(6)
(5)
(39)
(50)
(67)
(16)
(8)
(141)
(9)
(3)
(10)
(6)
-
(28)
(33)
21
(27)
(9)
(48)
(4)
(4)
2
0
(5)
(11)
(17)
(88)
11
1
(93)
44.8%
135.7%
0.0%
(0.4%)
-
40.2%
48.1%
(415.2%)
(39.7%)
(8.9%)
194.1%
(27)
(21)
(6)
24.5%
(9)
(5)
(4)
71.8%
(730)
(565)
(165)
29.2%
(189)
(81)
(108)
134.3%
(37)
(49)
(39)
(47)
(19)
(191)
(88)
(454)
(73)
(36)
(651)
(41)
(15)
(42)
(44)
-
(142)
(97)
(503)
(77)
(40)
(717)
4
(34)
3
(3)
(19)
(49)
9
49
4
4
66
(9.5%)
235.2%
(7.4%)
6.4%
-
34.9%
(9.0%)
(9.7%)
(5.1%)
(10.6%)
(9.2%)
(10)
(14)
(12)
(10)
(8)
(54)
(26)
(87)
(20)
(8)
(141)
(13)
(4)
(12)
(13)
-
(42)
(28)
(108)
(20)
(11)
(167)
3
(10)
0
3
(8)
(12)
2
21
0
3
26
(21.7%)
215.9%
(0.5%)
(25.9%)
-
27.5%
(7.8%)
(19.8%)
(0.6%)
(24.5%)
(15.8%)
(67)
(59)
(8)
12.6%
(11)
(12)
1
(4.0%)
(909)
(918)
9
(1.0%)
(206)
(221)
15
(6.9%)
EBITDA BY BUSINESS SEGMENT /
COUNTRY
(million US$)
Generation and Transmission
businesses:
Argentina
Brazil
Colombia
Peru
Central America
Personnel Expenses Generation and
Transmission businesses
Distribution business:
Argentina
Brazil
Colombia
Peru
Personnel Expenses Distribution
business
Less: consolidation adjustments and
other activities
Total consolidated Personnel Expen-
ses Enel Américas
Generation and Transmission
businesses:
Argentina
Brazil
Colombia
Peru
Central America
Other Expenses Generation and
Transmission businesses
Distribution business:
Argentina
Brazil
Colombia
Peru
Other Expenses Distribution
business
Less: consolidation adjustments and
other activities
Total consolidated Other Expenses
Enel Américas
EBITDA
Generation and Transmission
businesses:
Argentina
Brazil
Colombia
Peru
Central America
EBITDA Generation and Transmission
businesses
Distribution business:
Argentina
Brazil
Colombia
Peru
EBITDA Distribution business
135
562
787
323
158
1,965
23
1,432
554
219
2,228
140
297
673
272
-
1,382
50
1,186
507
214
1,957
(5)
265
114
51
158
583
(27)
246
47
5
271
(5)
(3.7%)
89.1%
16.9%
19.0%
-
42.1%
(54.8%)
20.7%
9.4%
2.4%
13.9%
5.6%
33
171
203
92
54
553
8
443
142
48
641
(15)
25
131
160
72
-
388
23
457
128
51
659
(20)
8
40
43
20
54
165
(15)
(14)
14
(3)
(18)
29.3%
30.7%
26.8%
27.4%
-
42.4%
(65.3%)
(3.1%)
10.2%
(5.3%)
(2.8%)
5
(26.1%)
Less: consolidation adjustments and
other activities
(91)
(86)
Total consolidated EBITDA Enel
Américas
4,102
3,253
849
26.1%
1,179
1,027
152
14.7%
584
Integrated Annual Report Enel Américas 2021
Ebitda of the generation and transmission segment
ARGENTINA
Subsidiaries
FY 2021
FY 2020
Change
% Change
Q4 2021
Q4 2020
Change
% Change
Cumulative figures
Quarterly figures
EBITDA (million US$)
Enel Generación
Costanera
Enel Generación Chocón
Central Dock Sud
53
27
55
61
36
43
EBITDA Generation
Business
135
140
(8)
(9)
12
(5)
(12.3%)
(24.4%)
29.4%
(3.7%)
11
7
15
33
6
5
14
25
5
2
1
8
75.6%
24.5%
5.8%
29.3%
EBITDA of our generation subsidiaries in Argentina reached US$135 million as of December 2021, representing a US$5 million
decrease as compared to last year. The main variables, by subsidiary, that explain these effects as of December 2021, are
described below:
Enel Generación Costanera S.A.: Lower EBITDA of US$8 million mainly due to the conversion effects of the Argentine peso
against the US dollar, partially offset by improved performance at local level as a result of the readjustment of rates agreed
by Resolution No. 440/2021.
Operating revenues of Enel Generación Costanera's decreased by US$8 million or 7.0%, in cumulative terms as December
2021 with respect to the previous year. The decrease is mainly explained by: (i) US$23 million lower revenues as a result of
the devaluation of the Argentine peso against the US dollar; (ii) US$14 million lower sales revenues mainly due to lower
energy sales (-823 GWh), as a result of lower generation stemming from lower dispatch requirement of CAMMESA, mainly
for combined cycles; and (iii) US$1 million lower sales revenues as a result of the effects of Resolution No. 12/2019, which
established that the company's own fuel supply would again be in charge of CAMMESA. This was partially offset by US$ 26
million higher revenues due to the application of the new Resolution No. 440/2021, which established that the values of
energy and power that are maintained in Argentine pesos can be readjusted by 29% retroactively from February 2021, and
US$ 4 million due to the effect of inflation.
Enel Generación Costanera’s operating costs were in line with last year.
Staff costs increased by US$7 million and are explained by US$13 million wage increases, partially offset by a US$ 6 million
decrease as a result of the devaluation of the Argentine peso against the US dollar.
Other expenses by nature decreased by US$5 million and are explained by the devaluation of the Argentine peso against
the U.S. dollar.
Regarding the fourth quarter of 2021, our subsidiary Enel Generación Costanera reached an EBITDA of US$11 million, increasing
by US$5 million the amount reached as of December 31, 2020. This increase is explained by: (i) US$10 million higher revenues due
to the application of the new Resolution No. 440/2021, which established that the values of energy and power that are maintained
in Argentine pesos can be readjusted by 29%; (ii) higher revenues from inflation effects equivalent to US$2 million; (iii) US$3 million
lower costs related to third-party services. All this partially offset by: (i) lower volume of energy sold in the fourth quarter of 2021
(-784 GWh), which led to lower revenues of US$ 6 million, and (ii) US$4 million higher staff costs due to salary increases.
Enel Generación El Chocón: US$ 9 million lower EBITDA mainly due to lower revenues resulting from the devaluation of the
Argentine peso and higher fixed costs due to inflation
Operating revenues decreased by US$7 million compared to the same period of the previous year, mainly due to (i) US$9
million lower conversion income as a result of the devaluation of the Argentine peso against the US dollar; and (ii) US$3 million
lower revenues from sales as a result of the effects of Resolution No. 12/2019, which established that the company's own fuel
supply would again be in charge of CAMMESA. All this partially offset by US$5 million higher revenues from the application
of the new regulation Resolution No. 440/2021, which established that the values of energy and power that are maintained
in Argentine pesos can be readjusted by 29% retroactively as of February 2021.
Operating costs were in line with the same period of the year before.
Consolidated Financial Statements 585
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Staff costs were in line with the same period of the year before.
Other expenses by nature in Enel Generación El Chocón increased by US$2 million as a result of higher fixed costs stemming
from the Argentine inflation and the devaluation of the Argentine peso against the US dollar, which affects some dollarized costs.
Regarding the fourth quarter of 2021, our subsidiary Enel Generación Chocón reached a US$7 million EBITDA increasing by
US$2 million in the same period of 2020. This decrease is explained by:
US$3 million higher revenues due to the application of the new Resolution No. 440/2021, which established that the values
of energy and power that are maintained in Argentine pesos can be readjusted by 29%, offset by US$1 million of lower income
as a result of the effects of Resolution No. 12/2019 that established that the supply of fuel of the company was again left in
charge of CAMMESA.
Central Dock Sud: US$12 million higher EBITDA mainly due to higher sales volumes and better sale prices resulting from the
application of resolution 440/21 as of February 2021.
Central Dock Sud’s operating revenues increased by US$13 million or 20.1%, as of December 2021 compared to the same
period of the previous year, which is mainly explained by US$31 million higher revenues due to the increase in sales volume
(+917 GWh) in conjunction with the increase of tariffs caused because of the application of the new regulation established
by Resolution No. 440/2021, which established that the values of energy and power that were maintained in Argentine pesos
can be readjusted by 29% retroactively from February of 2021. This is partially offset by US$18 million lower revenues as a
result of the devaluation of the Argentine peso against the US dollar.
Operating costs were in line with the same period of the previous year.
Staff costs were in line with the same period of the previous year.
Other expenses by nature increased by US$1 million as a result of higher fixed costs resulting from the inflation in Argentina
and the devaluation of the Argentine peso against the US dollar that affects some dollarized costs.
In the fourth quarter of 2021, Central Dock Sud had an EBITDA of US$15 million as of December 31, 2021, exceeding by
US$1 million the one registered in 2020. This increase is mainly due to US$3 million stemming from an increase in physical
sales (+71 GWh), and the recognition of the provisions of Resolution No. 440/21 that establishes a 29% readjustment of
rates retroactively from February 1, 2021, partially offset by the US$2 million negative effect related to the conversion effect
stemming from the devaluation of the Argentine peso against the US dollar.
Brazil
Subsidiaries
FY 2021
FY 2020
Change
% Change
Q4 2021
Q4 2020
Change
% Change
Cumulative figures
Quarterly figures
EBITDA (millions of US$)
EGP Cachoeira Dourada
Enel Generación
Fortaleza
EGP Volta Grande
Enel Cien
Enel Trading
EGP Brasil
Central Geradora Sao
Francisco
EBITDA Generation and
Transmission Businesses
64
108
64
47
80
199
-
135
62
49
46
-
-
5
(71)
46
15
1
80
199
(5)
(52.3%)
74.0%
31.1%
3.5%
-
-
-
47
33
17
11
12
51
-
80
19
20
12
-
-
-
(33)
14
(3)
(1)
12
51
-
(41.4%)
79.5%
(14.3%)
(14.8%)
-
-
-
562
297
265
89.1%
171
131
40
30.7%
The EBITDA of our generation and transmission subsidiaries in Brazil reached US$562 million as of December 2021, representing
an increase of US$265 million compared to the previous year. This increase is driven by the incorporation of EGP Brasil
Companies and also by the good 2021 performance of Enel Trading, our subsidiary in charge of contracts intermediation,
which contributes US$199 million and US$12 million of the cumulative and quarterly growth respectively. The main variables,
by subsidiary, that explain this increase in results as of December 2021, are described below:
586
Integrated Annual Report Enel Américas 2021
EGP Cachoeira Dourada S.A.: US$71 million lower EBITDA mainly due to energy purchases at a higher cost than the those
registered in the same period of the previous year.
Operating revenues increased by US$616 million, or 75.9%, as of December 2021. The increase is mainly explained by US$854
million due to higher sales to Brazil's interconnected system as a result of the import of energy from Argentina and Uruguay,
partially offset by: (i) US$174 million of lower physical sales to the regulated market (-4,507 GWh), mainly due to the COVID-19
pandemic and hydrological crisis, and (ii) US$64 million of lower revenues as a result of the devaluation of the Brazilian real
in relation to the US dollar.
Operating costs increased by US$685 million, or 102.8%, as of December 2021, mainly explained by: (i) US$831 million higher
import energy purchase, and (ii) additional GSF (Generation Scaling Factor) compensatory benefits for hydrological risk granted
in 2020 and not present in 2021 for US$60 million. This was partially offset by (i) US$146 million from lower energy purchases,
because of lower customer demand in the regulated market, mainly due to the effect of COVID-19; and (ii) US$60 million due
to lower conversion effect stemming from the devaluation of the Brazilian real.
Staff costs were in line with the same period of the previous year.
Other expenses by nature increased by US$2 million as a result of higher costs of legal services and other services.
In the fourth quarter of 2021, Enel Cachoeira Dourada S.A. reached an EBITDA of US$47 million, which represents a US$33
million decrease as compared to the same period of the previous year. The main effects of this decrease are explained by (i)
US$84 million lower revenues due to a lower sales volume (-1,854 GWh), and (ii) additional GSF (Generation Scaling Factor)
compensatory benefits for hydrological risk granted in 2020 and not present in 2021 of US$60 million. This was partially
offset by US$97 million lower energy purchases. It must deduct from the above US$14 million related to higher net revenues
obtained from the import and injection of energy from Argentina and Uruguay to the Brazilian SIN.
Enel Generación Fortaleza: US$46 million higher EBITDA mainly due to higher revenues from the sale of energy partially
offset by the devaluation effect of the Brazilian real against the US dollar.
Enel Generación Fortaleza's operating revenues increased by US$140 million, mainly by: (i) US$80 million higher energy
sales due to a higher demand (+1,378 GWh) that motivated a greater generation of the Fortaleza plant, generating a surplus
of energy that was finally placed on the free market; (ii) US$68 million for price readjustments; and (iii) US$7 million recovery
of PIS-COFINS taxes. This was partially offset by US$15 million for conversion effects, due to the devaluation of the Brazilian
real in relation to the US dollar.
Operating costs increased by US$91 million, mainly explained by US$108 million due to higher purchases to meet additional
energy demand, which were partially offset by: (i) US$8 million lower fuel cost from a better fit of fixed supply contracts,
compared to those in force in the previous year; and (ii) US$9 million lower cost due to the devaluation of the Brazilian real
in relation to the US dollar.
Enel Generación Fortaleza’s Staff costs were in line with the same period of the previous year.
Other expenses by nature increased by US$3 million mainly due to higher payments for insurance and third-party services.
In the fourth quarter, Enel Generación Fortaleza achieved an EBITDA of US$33 million, exceeding US$14 million the one
reached in 2020.
This increase is mainly due to (i) US$12 million for readjustments of energy sales rates and (ii) US$ 5 million due to insurance
reimbursement. This was partially offset by US$3 million related to the conversion effects as a result of the devaluation of the
real against the US dollar.
Enel Green Power Volta Grande: Higher EBITDA of US$15 million mainly explained by readjustment of revenues due to the
harmonized CPI (HICP).
Enel Green Power Volta Grande's operating revenues increased by US$19 million mainly due to: (i) US$17 million update of
concession assets (RBO), stemming from an HICP that in 2021 reached 10% versus 5% in 2020; (ii) US$5 million positive effect
from better sales prices. This was partially offset by the US$3 million negative effects of the conversion of figures resulting
from the devaluation of the Brazilian real against the US dollar.
Consolidated Financial Statements 587
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Enel Green Power Volta Grande’s operating costs increased by US$4 million due to higher prices of purchased energy.
Enel Green Power Volta Grande’s staff costs were in line with the same period of the year before.
Enel Green Power Volta Grande’s other expenses by nature were in line with the same period of the year before.
In the fourth quarter of 2021, Enel Green Power Volta Grande's EBITDA reached US$17 million, US$3 million below the figure
reached in the same period of the previous year. This decrease is mainly due to: (i) US$1 million higher cost for higher prices
of purchased energy and US$2 million for additional GSF (Generation Scaling Factor) compensatory benefits for hydrological
risk granted in 2020 and not present in 2021.
Enel Cien S.A.: EBITDA in line with the same period of the previous year,
In the fourth quarter of 2021, Enel CIEN S.A. remains in line with the figure recorded in 2020.
Enel Trading Brasil S.A. (Start of operations in 2021): Positive EBITDA of US$80 million as a result of the net margin due to
the purchase and sale of a total of Energy for 21.4TWh.
The positive EBITDA is generated by revenues from the sale of electricity at spot prices offered by the market, driven upwards
in the second half of 2021, as a result of the water crisis that Brazil is going through. On the other hand, the costs of energy
sales are determined by prices set in short- and long-term contracts set with customers and that have been much lower than
the spot prices in the last quarter of 2021.
In the fourth quarter of 2021, Enel Trading Brasil S.A. reached a US$ 12 million EBITDA as a result of the net margin achieved
in energy purchase and sale for a total of 5.9 TWh, which is generated by the sale margin from a purchase price at fixed
prices and a sale price determined by the spot market, which has been higher than the energy purchase prices for the last
quarter ended December 31 of 2021.
Central Geradora Sao Francisco decreased EBITDA from extraordinary revenues of US$ 5 million generated in 2020,
Enel Green Power Brasil Participacoes Ltda and subsidiaries ("Enel Green Power Brasil"):Group of Companies that entered
the consolidation perimeter as of April 2021: EBITDA of US$199 million mainly due to physical sales.
Operating revenues at Enel Green Power Brasil reached US$540 million corresponding to the sale of 12,481 GWh.
Operating costs at Enel Green Power Brasil reached US$294 million, explained as follows: (i) US$267 million energy purchases
to cover higher demand, (ii) US$26 million transport costs, and (iii) US$1 million other variable supplies and services.
Staff costs at Enel Green Power Brasil totaled US$25 million mainly explained by salaries and social security of workers.
Other expenses by nature in Enel Green Power Brasil reached US$22 million, mainly for independent outsourced services
totaling US$15 million and US$7 million maintenance and repair costs.
During the fourth quarter of 2021, Enel Green Power Brasil's EBITDA contribution was US$51 million associated with revenues
obtained from physical energy sales of 4,336 GWh, which reported US$135 million revenues, US$71 million operating costs,
US$8 million staff costs, and US$5 million in other expenses by nature.
588
Integrated Annual Report Enel Américas 2021
Colombia
Subsidiaries
Emgesa
EGP Colombia
EBITDA Generation
Business
EBITDA (millions of US$)
Cumulative figures
Quarterly figures
FY 2021
FY 2020
Change
% Change
Q4 2021
Q4 2020
Change
% Change
789
(2)
787
673
-
673
116
(2)
114
17.1%
-
16.9%
204
(1)
203
160
-
160
44
(1)
43
27.7%
-
26.8%
EBITDA of our generation subsidiaries in Colombia reached US$787 million as of December 2021, representing a US$114
million increase as compared to December 2020. The main variables that explain this situation are described below:
Emgesa S.A.: US$116 million higher EBITDA mainly due to better prices in the sale of electricity, and more favorable prices
in the purchase of energy to comply with contracts.
Emgesa's operating revenues increased by US$103 million or 8.9% as of December 2021. This increase is mainly explained by:
(i) US$119 million higher revenue effect due to better average sales prices; (ii) higher revenue from higher sales volume (+50
GWh) equivalent to US$3 million as compared to the previous year. All this partially offset by: (i) US$ 3 million lower General
Electric insurance indemnity income received in 2020 not present in the current year, and (ii) US$16 million lower revenues
stemming from the negative conversion effect due to the devaluation of the Colombian peso against the US dollar.
Operating costs decreased by US$4 million mainly explained by: (i) US$24 million decrease related to energy purchases as a
result of lower purchase price of US$60 million, less US$36 million effect caused by higher physical purchases (+887 GWh);
(ii) US$14 million lower fuel consumption mainly due to lower generation of the Termozipa Power Plant, due to the decrease
in the spot price, and (iii) US$6 million positive effect due to the conversion effect of the devaluation of the Colombian peso
against the US dollar. All of the above was partially offset by: (i) US$29 million higher transportation expenditure due to an
increase in unit costs; (ii) US$11 million higher expense of other variable supplies and services.
Staff expenses had a positive effect of US$3 million mainly due to the scheduled retirement plan of workers in 2020 and the
subsequent lower number of staff members during 2021.
Other expenses by nature had a positive effect of US$6 million related to tax contingencies that had to be covered in 2020
not present in the current year.
In the fourth quarter of 2021, Emgesa's EBITDA reached US$204 million, 27.7% higher than the one registered in 2020. The
US$44 million growth is mainly explained by the effect of higher revenues of (i) US$45 million for better average sales prices;
(ii) US$25 million higher revenues due to increased sales volume in the fourth quarter as a result of the reactivation of the
economy (+344 GWh). All of the above partially offset by: (i) US$4 million higher sales costs for energy purchases at a higher
price on the spot market; (ii) US$4 million higher transportation costs due to increased unit costs, mainly PPI; (iii) US$2 million
higher costs for increased fuel consumption due to greater generation in the quarter; (iv) US$5 million lower revenues from
transactions that occurred in 2020 not present in the current year, mainly the sale of carbon credits and receipt of compensation
from General Electric; and (v) US$11 million negative effect from conversion effects resulting from the devaluation of the
Colombian peso against the US dollar.
Consolidated Financial Statements 589
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Peru
Subsidiaries
FY 2021
FY 2020
Change
% Change
Q4 2021
Q4 2020
Change
% Change
Cumulative figures
Quarterly figures
EBITDA (millions of US$)
Enel Generación Perú
Enel Generación Piura
Chinango
EGP Perú
EBITDA Generation
Business
224
41
37
21
323
211
30
31
-
272
13
11
6
21
51
6.2%
37.5%
19.2%
-
19.0%
60
11
12
9
92
57
7
8
-
72
3
4
4
9
6.7%
63.4%
36.7%
-
20
27.4%
EBITDA of our generation subsidiaries in Peru reached US$323 million as of December 2021, representing a US$51 million
increase in relation to the previous year. The main variables, by subsidiary, that explain the increase in the result to December
2021, are described below:
Enel Generación Perú S.A.: US$13 million higher EBITDA mainly due to higher revenues from an increased volume of physical
sales and better average sales prices, partially offset by the negative effect of the conversion effects resulting from the
devaluation of the new Peruvian sol against the US dollar.
Operating revenues increased by US$23 million, or 5.4% as of December 2021. This increase is mainly explained by higher
revenues for (i) US$64 million higher sales volume (+263 GWh) and (ii) US$4 million better average sale prices, partially offset
by a US$45 million decrease due to the conversion effects caused by the devaluation of the new Peruvian sol in relation to
the US dollar.
Operating costs increased by US$10 million, or 7.4%, as of December 2021, mainly due to (i) US$12 million higher fuel
consumption given the higher thermal generation as a result of the increased demand, (ii) US$15 million for higher transportation
costs. This was partially offset by a lower cost associated with the US$17 million conversion effect as a result of the devaluation
of the new Peruvian sol against the US dollar.
Staff costs of Enel Generación Perú in cumulative terms were practically in line with the figures registered in the previous year.
Other expenses by nature in cumulative terms were in line with the figures registered in 2020.
In the fourth quarter of 2021, Enel Generación Perú had a US$60 million EBITDA, a 6.7% increase as compared to the US$57
million registered in 2020.
The US$3 million increase in EBITDA is mainly explained by lower third-party services in 2021 compared to 2020.
Enel Generación Piura S.A.: US$11 million higher EBITDA due to greater sales revenues due to increases in physical energy sales.
Operating revenues increased by US$11 million, mainly due to (i) US$12 million increase due to an increase in physical sales
(+99 GWh), and (ii) US$6 million higher revenues from the sale of gas to the Talara refinery. All of the above partially offset
by a US$7 million decrease due to the conversion effect caused by the devaluation registered by the new Peruvian nuevo
against the US dollar.
Operating costs as of December 31, 2021, were in line with the previous year.
In the fourth quarter of 2021, EBITDA of Enel Generación Piura reached US$11 million, exceeding by US$4 million the figure
registered in the same period of the previous year. The main effect of this growth is due to the higher average sales prices of
US$3 million and US$1 million for gas sales to the Talara refinery.
Chinango S.A.: US$6 million higher EBITDA as compared to the previous year, as a result of higher sales revenues stemming
from better average sales prices, partially offset by the negative conversion effect caused by the devaluation of the new
Peruvian sol against the US dollar.
In the fourth quarter Chinango S.A. reached US$12 million, exceeding US$3 million the figure registered in 2020. The main
explanation for this increase is better sale prices that are partially offset by the negative effects associated with the conversion
effects caused by the devaluation of the new Peruvian sol against the US dollar.
590
Integrated Annual Report Enel Américas 2021
Enel Green Power Peru S.A.C. and subsidiaries ("Enel Green Power Peru"):
Group of Companies entered into the consolidation perimeter as of April 1, 2021: US$21 million EBITDA mainly due to physical sales.
Operating revenues at Enel Green Power Peru and subsidiaries totaled US$33 million corresponding to physical sales of 814 GWh.
Operating costs at Enel Green Power Peru and subsidiaries totaled US$3 million, basically explained by the transport cost of energy.
Other expenses by nature in Enel Green Power Peru and subsidiaries totaled US$9 million, mainly US$5 million for externalized
independent services and US$4 million repair and maintenance costs.
During the fourth quarter of 2021, the contribution to Enel Green Power Peru's EBITDA was US$9 million associated with the
revenues from physical energy sales of 294 GWh, which reported a US$13 million revenues, US$1 million operating costs,
and US$3 million other expenses by nature.
Central america
EGP Costa Rica
EGP Guatemala
EGP Panamá
EBITDA Generation
Business
EBITDA (millions of US$)
Cumulative figures
Quarterly figures
FY 2021
FY 2020
Change
% Change
Q4 2021
Q4 2020
Change
% Change
10
38
110
158
-
-
-
-
10
38
110
158
-
-
-
-
3
15
36
54
-
-
-
-
3
15
36
54
-
-
-
-
Enel Green Power Costa Rica S.A. and subsidiaries (“EGP Costa Rica”): Group of Companies incorporated into the consolidation
perimeter as of April 2021. EBITDA of US$10 million mainly from physical sales
Operating revenues at Enel Green Power Costa Rica reached US$17 million, corresponding to US$13 million from the sale
of energy equivalent to 168 GWh, and US$4 million from other operating revenues and other services.
Staff costs at Enel Green Power Costa Rica totaled US$2 million and are mainly explained by salaries and social security
costs of workers.
Other expenses by nature in Enel Green Power Costa Rica reached US$5 million, mainly for outsourced independent services.
During the fourth quarter of 2021, Enel Green Power Costa Rica's EBITDA contribution was US$3 million associated with the revenues
from physical energy sales of 61 GWh, which reported US$6 million revenues, and US$3 million in other expenses by nature.
Enel Green Power Guatemala: Group of companies incorporated into the consolidation perimeter as of April 2021. EBITDA
of US$ 38 million mainly from physical sales
Operating revenues at Enel Green Power Guatemala reached US$108 million, mainly by US$86 million corresponding to the
sale of energy equivalent to 950 GWh, and US$22 million from other operating revenues and other services.
Operating costs at Enel Green Power Guatemala totaled US$50 million, explained as follows (i) US$37 million energy purchases
to cover higher demand, and (ii) US$13 million transportation and other services costs.
Staff expenses at Enel Green Power Guatemala totaled US$4 million mainly explained by salaries and social security of workers.
Other expenses by nature in Enel Green Power Guatemala reached US$16 million, mainly by US$13 million for greater
independent, outsourced, and other services, and US$3 million higher repair and maintenance costs.
During the fourth quarter of 2021, the contribution to Enel Green Power Guatemala's EBITDA was US$15 million associated
with revenues from physical energy sales of 291 GWh, which reported US$45 million revenues, US$22 million operating costs,
US$1 million staff expenses, and US$7 million other expenses by nature.
Consolidated Financial Statements 591
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Enel Green Power Panamá S.R.L. and subsidiaries (Enel Green Power Panamá) Group of companies incorporated into the
consolidation perimeter as of April 2021. EBITDA of US$110 million mainly from physical sales
Operating revenues at Enel Green Power Panama reached US$149 million corresponding to US$142 million from energy
sales equivalent to 1,519 GWh, and US$7 million from other operating revenues and other services.
Operating costs at Enel Green Power Panama reached US$21 million, explained as follows: (i) US$12 million energy purchases
to cover higher demand, (ii) US$6 million transportation costs, and (iii) US$3 million other variable supplies and services.
Staff costs at Enel Green Power Panamá totaled US$7 million mainly explained by salaries and social security of workers.
Other expenses by nature at Enel Green Power Panamá totaled US$11 million mainly for outsourced independent services.
During the fourth quarter of 2021, the contribution to Enel Green Power Panama's EBITDA was US$36 million associated with
the revenues from physical energy sales totaling 481 GWh, which reported revenues of US$52 million, US$9 million operating
costs, US$2 million personnel expenses, and US$5 million other expenses by nature.
Distribution segment ebitda
Argentina
Subsidiaries
Edesur
Cumulative figures
Quarterly figures
FY 2021
FY 2020
23
50
Change
(27)
% Change
(54.8%)
Q4 2021
Q4 2020
8
23
Change
(15)
% Change
(65.3%)
EBITDA (million US$)
EBITDA of our distribution subsidiary in Argentina reached US$23 million for the period ended on December 31, 2021,
representing a US$27 million decrease as compared to the same period of the previous year. The main variables, which explain
this decrease as of December 2021, are described below:
Operating revenues decreased by US$7 million, or 0.9% as of December 2021, which is mainly explained by US$171 million due to
lower revenues from the conversion effect as a result of the devaluation of the Argentine peso against the U.S. dollar; partially offset by:
(i) US$118 million for tariff readjustments approved by the regulatory authority on a temporary basis, pending the next comprehensive
tariff review. The readjustment established in the ENRE resolution No. 106 established an average readjustment of 9%, which led to a
21.8% increase in the added value of distribution as of May 1, 2021; (ii) US$46 million higher physical volume sold (+847 GWh).
Operating costs decreased by US$ 2 million, or 0.4%, which are mainly explained by a US$117 million decrease as a result of
the devaluation of the Argentine peso against the US dollar, which is partially offset by: (i) US$90 million higher costs associated
with higher energy purchased price; (ii) US$19 million higher volume of energy purchased, and (iii) a US$6 million increase
due to other supplies and variable services associated with the increase in sales volume.
Staff expenses increased by US$14 million, mainly due to a US$49 million increase stemming from salary increases, explained
by the recognition of inflation and by increased overtime; a US$35 million decrease due to lower conversion effects as a result
of the devaluation of the Argentine peso against the US dollar.
Other expenses by nature increased by US$8 million compared to the previous year, basically due to higher expenses to hire
outsourced services.
Regarding the fourth quarter of 2021, EBITDA of our distribution segment in Argentina reached US$8 million, US$15 million
less as compared to the previous year. This decrease is mainly explained by: (i) US$11 million higher cost for an increased
volume of energy purchased to meet demand; (ii) US$32 million higher price of energy purchased; (iii) $22 million for salary
adjustments and staff overtime, and (iv) $8 million for increases in network maintenance services. All of the above partially
offset by higher revenues from: (i) US$23 million due to higher energy sold (+362 GWh); (ii) US$35 million higher price for
tariff readjustments approved by the regulatory authority on a temporary basis pending the next comprehensive tariff review.
Subsidiaries
Edesur
Total Distribution Business
Energy Losses (%)
Clients (million)
December 2021
December 2020
% Change
December 2021
December 2020
% Change
18.0%
18.0%
18.9%
18.9%
(4.8%)
(4.8%)
2,55
2,55
2,51
2,51
1.6%
1.6%
592
Integrated Annual Report Enel Américas 2021
Brazil
EBITDA (million US$)
Cumulative figures
Quarterly figures
Subsidiaries
FY 2021
FY 2020
Change
% Change
Q4 2021
Q4 2020
Change
% Change
Enel Distribución Río
Enel Distribución Ceará
Enel Distribución Goiás
Enel Distribución Sao
Paulo
EBITDA Distribution
Business
282
280
163
707
232
192
169
593
50
88
(6)
114
21.7%
45.9%
(3.8%)
19.2%
76
90
52
225
77
64
65
251
(1)
26
(13)
(26)
(0.8%)
39.5%
(20.2%)
(10.2%)
1,432
1,186
246
20.7%
443
457
(14)
(3.1%)
EBITDA of our distribution subsidiaries in Brazil reached US$1,432 million as of December 2021, representing a US$ 246
million increase over the previous year. The main variables by subsidiary, which explain the increase as of December 2021,
are described below:
Enel Distribución Rio: US$50 million higher EBITDA due to a higher sales volume in 2021 and better average sale prices
partially offset by the negative effect of the devaluation of the Brazilian real against the US dollar
Operating revenues in Enel Distribución Río increased by US$328 million, or 26.2% as of December 2021, which is mainly
explained by: (i) US$131 million higher revenues as a result of increased physical sales volumes (+ 261 GWh); (ii) US$141
million higher revenues due to a better sale price as a result of inflation and tariff readjustments; (iii) US$16 million higher
toll revenues; (iv) US$53 million higher revenues due to the recognition of construction revenues under IFRIC 12 "Service
Concession Agreements" (IFRIC 12); and (v) US$53 million increased readjustments due to the update of the financial assets
associated with IFRIC 12, as a result of a higher CPI registered in 2021 (10%), compared to the one registered in 2020 (5%). All
of the above is offset by US$66 million conversion effects caused by the devaluation of the Brazilian real against the US dollar.
Operating costs increased by US$278 million, or 32.0% as of December 2021, compared to the previous year and are mainly
explained by: (i) US$261 million higher costs for energy purchases, which incorporate US$176 million due to higher physical
purchases and US$85 million explained by increased average prices stemming from readjustments related to inflation and
worsening hydrology; (ii) US$2 million higher energy transportation cost due to increased tariffs in the use of networks; (iii)
US$53 million higher construction costs according to IFRIC 12, and (iv) US$13 million higher costs for disconnections and
reconnection services. This was partially offset by US$51 million lower costs as a result of the conversion effects due to the
devaluation of the Brazilian real against the US dollar.
Staff expenses increased by US$4 million compared to the previous year, mainly as a result of a US$6 million increase
corresponding to provisions due to a restructuring plan associated with the Group's digitalization strategy, offset by US$2
million conversion effect resulting from the devaluation of the Brazilian real against the US dollar.
Other expenses by nature decreased by US$4 million, mainly due to the conversion effects caused by the devaluation of the
Brazilian real against the US dollar.
Regarding the fourth quarter of 2021, EBITDA at the subsidiary Enel Distribución Rio reached US$76 million practically in line
with the result of US$77 million recorded in 2020. The variation in EBITDA is due to the following offset effects: (i) US$26 million
higher revenues from the sale of energy, composed of a US$46 million positive effect due to better average sale prices as a
result of the tariff readjustment, partially offset by US$20 million lower revenues as a result of the lower sales volume registered
in the last quarter of 2021; (ii) US$7 million from higher toll revenues; (iii) US$33 million higher revenues due to the recognition
of construction revenues under IFRIC 12 "Service Concession Agreements" (IFRIC 12); (iv) US$5 million higher readjustments
due to the update of the financial asset associated with IFRIC 12, as a result of a higher CPI registered in 2021 (10%), compared
to the one registered in 2020 (5%); (v) US$9 million from other revenues associated with fines charged to clients.
Subsidiaries
Enel Distribución Río
Energy Losses (%)
December
2021
20.5%
December
2020
22.1%
% Change
(7.2%)
December
2021
3.03
Clients (million)
December
2020
2.95
% Change
2.8%
Consolidated Financial Statements 593
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Enel Distribución Ceará S.A.: US$88 million higher EBITDA mainly due to the effects of economic recovery that led to
an increased physical sales volume and better average sales prices, partially offset by the devaluation of the Brazilian real
against the US dollar.
Operating revenues at Enel Distribución Ceará increased by US$346 million, or 29.6% as of December 2021, which is mainly
explained by: (i) US$87 million higher revenues as a result of a higher sales volume (+865 GWh); (ii) US$221 million higher
revenues due to a better sale price as a result of inflation and tariff readjustments; (iii) US$27 million higher toll revenues; (iv)
US$37 million higher revenues due to the recognition of construction revenues under IFRIC 12; and (v) US$37 million higher
readjustments due to an update of the financial asset associated with IFRIC 12, as a result of a higher CPI registered in 2021
(10%), compared to the one registered in 2020 (5%). All this is partially offset by the US$63 million conversion effects caused
by the devaluation of the Brazilian real against the US dollar.
Operating costs increased by US$264 million, or 31.6% as of December 2021, compared to the previous year and are mainly
explained by (i) US$263 million for higher energy purchase costs, which incorporate US$89 million due to higher physical
purchases and US$174 million explained by higher average prices due to readjustment because of inflation; (ii) US$13
million higher energy transportation cost due to increased tariffs in the use of networks; and (iii) US$37 million from higher
construction costs under IFRIC 12. All partially offset by US$49 million lower costs as a result of the conversion effects due
to the devaluation of the Brazilian real.
Staff costs remained in line with the previous year.
Other expenses by nature decreased by US$6 million mainly from the US$3 million reversal in 2021 due to provisions for
regulatory contingency provisioned in 2020, and a US$3 million positive effect due to the conversion of figures resulting from
the devaluation of the Brazilian real against the US dollar.
Regarding the fourth quarter of 2021, EBITDA in the subsidiary Enel Distribución Ceará S.A. reached US$90 million, exceeding
by US$26 million the amount reached in the fourth quarter of 2020. This increase is mainly due to: (i) US$6 million for higher
physical sales volume (+86 GWh); (ii) US$47 million for a better sale price as a result of inflation and tariff readjustments; (iii)
US$7 million from higher toll revenues; (iv) US$20 million lower costs related to repairs, maintenance, and energy transportation
services. The above offset by higher costs by: (i) US$49 million for higher costs in the purchase of energy given the tariff
readjustments and the corresponding inflation; and (ii) US$5 million related to the negative effect of conversion of figures
resulting from the devaluation of the Brazilian real against the US dollar.
Subsidiaries
Enel Distribución Ceará
Energy Losses (%)
December
2021
16.1%
December
2020
15.9%
% Change
1.3%
December
2021
4,06
Clients (million)
December
2020
4,01
% Change
1.2%
Enel Distribución Goias.: EBITDA in 2021 was US$6 million lower than in 2020, mainly due to the negative conversion effect
stemming from the devaluation of the Brazilian real against the US dollar.
Operating revenues in Enel Distribución Goiás increased by US$426 million, which is mainly explained by: (i) US$272 million
higher energy sales which correspond mainly to US$86 million higher physical sales by (+607 GWh), due to the country's
economic recovery, US$186 million better average sale prices due to the effects of inflation adjustments related to a 4.6%
higher tariff adjustment in force since October 2020; (ii) US$72 million recognition as a result of the compensatory CVA
revenues (Compensation of Values of Lot A) received because of regulations in Brazil in water crisis cases; and (iii) US$163
million other operating income, explained mainly by higher construction revenues under the application of IFRIC 12. This was
partially offset by US$81 million lower revenues due to the conversion effects of the devaluation of the Brazilian real.
Operating costs increased by US$442 million, explained by: (i) US$332 million higher energy purchase expenditure, higher
average prices, and a higher volume; (ii) US$13 million higher costs for interruptions and reconnections; and (iii) US$163 million
higher other variable supplies and services which correspond mainly to higher construction costs due to the application of IFRIC
12. This is partially offset by US$66 million lower revenues as a result of the devaluation of the Brazilian real against the US dollar.
Staff expenses increased by US$2 million, mainly due to a US$4 million increase related to a higher number of staff and the
set-up of retirement funds, partially offset by US$2 million related to the positive conversion effect caused by the devaluation
of the Brazilian real against the US dollar.
Other expenses by nature decreased by US$12 million, explained by US$7 million due to the conversion effects because of
the devaluation of the Brazilian real, and US$5 million for lower fines and maintenance costs compared to the previous year.
594
Integrated Annual Report Enel Américas 2021
Regarding the fourth quarter of 2021, EBITDA in Enel Distribución Goiás reached US$52 million, US$13 million less than the
figure reached in the fourth quarter of 2020. This decrease is mainly due to: (i) US$70 million higher energy purchase expenditure
due to higher average prices; and (ii) US$5 million due to higher costs to be reimbursed to clients for quality of service. All the
above is partially offset by: (i) US$ 45 million higher sales revenues composed of US$63 million due to a better sales price as a
result of inflation effect and tariff readjustments by 4,6% in force since October 2020, and US$17 million lower revenues due
to a lower sales volume in the last quarter (-46 GWh), and (ii) US$17 million lower transportation costs.
Subsidiaries
Enel Distribución Goiás
Energy Losses (%)
December
2021
11.3%
December
2020
11.4%
% Change
(0.9%)
December
2021
3,29
Clients (million)
December
2020
3,21
% Change
2.6%
Enel Distribución Sao Paulo: US$114 million higher EBITDA mainly due to the effects of economic recovery that led to higher
physical sales volume and better average sales prices, partially offset by the devaluation of the Brazilian real against the US dollar.
Operating revenues in Enel Distribución Sao Paulo increased by US$828 million, compared to last year. The main variations
explained by these higher revenues are: (i) US$215 million higher sale revenues due to better average sales prices because of
a 9.44% tariff adjustment in force since 2020, and a higher volume of physical sales (+736 GWh); (ii) higher revenues due to
an increase in tariffs as a result of the water crisis in Brazil, generating, as a counterpart, sectoral assets of US$598 million;
(iii) US$128 million increased other operating income mainly explained by higher construction revenues under IFRIC 12; and
(iv) US$55 million higher readjustments due to an update of the financial asset associated with IFRIC 12, as a result of a higher
CPI registered in 2021 (10%), compared to the one registered in 2020 (5%). All the above is partially offset by US$168 million
as a result of the conversion effects due to the devaluation of the Brazilian real.
Operating costs increased by US$652 million, compared to the previous year, mainly explained by: (i) US$620 million higher
energy purchases as a result of lower hydrology and higher purchases at higher prices from thermal generation companies;
(ii) US$50 million higher interruptions and reconnections costs; and (iii) US$128 million higher other operating costs, mainly
explained by higher construction costs, due to the application of IFRIC 12. This was partially offset by: (i) US$19 million lower
transportation costs, and (ii) US$127 million lower costs as a result of the conversion effects due to the devaluation of the
Brazilian real.
Staff expenses increased by US$62 million compared to the previous year, mainly due to: (i) US$18 million higher expenses
for provisions for the restructuring plan associated with the digitalization strategy, and (ii) US$89 million corresponding to the
effects of voluntary migration by employees to a defined contribution plan in 2020, absent in the current year. All the above is
partially offset by: (i) US$11 million lower expenses due to higher efficiency and digitalization process, (ii) US$8 million related
to the conversion effect resulting from the devaluation of the Brazilian real, and (iii) US$25 million labor activation for fixed
asset projects.
Other expenses by nature were in line with the figures registered last year.
Regarding the fourth quarter of 2021, EBITDA at the subsidiary Enel Distribución Sao Paulo reached US$225 million, US$26
million less than the figure reached in the fourth quarter of 2020. This decrease is mainly due to: (i) US$89 million corresponding
to the effects of voluntary migration by employees to a defined contribution plan in 2020, not present in the current year; (ii)
US$91 million higher energy purchase costs due to higher average prices, and US$13 million negative conversion effects
related to the devaluation of the Brazilian real against the US dollar. All of the above is compensated by: (i) US$52 million
higher revenues from higher average sales prices, and (ii) US$115 million higher revenues associated with regulatory assets
related to the water crisis.
Subsidiaries
Enel Distribución Sao Paulo
Energy Losses (%)
December
2021
10.3%
December
2020
10.6%
% Change
(2.8%)
December
2021
8,05
Clients (million)
December
2020
7,90
% Change
2.0%
Consolidated Financial Statements 595
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Colombia
Subsidiaries
Cumulative figures
Quarterly figures
Codensa
554
507
47
9.4%
142
128
14
10.2%
FY 2021
FY 2020
Change
% Change
Q4 2021
Q4 2020
Change
% Change
EBITDA (million US$)
EBITDA of our subsidiary Codensa in Colombia reached US$554 million as of December 2021, representing a US$47 million
increase compared to the previous year. The main variables, which explain this increase to December 2021, are described below:
Codensa: US$47 million higher EBITDA mainly due to higher physical sales, higher average sales prices, and higher remuneration
for assets.
Operating revenues at Codensa increased by US$160 million, or 10.3% as of December 2021, and is mainly explained by: (i)
US$113 million higher revenues due to better average sales prices stemming from an increase in the Producer Price Index
- PPI (to which sales prices are indexed), and higher physical sales (+764 GWh); (ii) US$54 million increased revenues due
to higher revenues from investment recognition which are remunerated at a higher rate due to a greater regulatory base
of assets; and (iii) US$13 million higher revenues from operations contracts related to clean-up, suspension of service and
reconnections contracts. All this is offset by the US$20 million negative conversion effect related to the devaluation of the
Colombian peso against the US dollar.
Operating costs increased by US$126 million or 14.2% as of December 2021 and are mainly explained by: (i) US$115 million
higher energy purchases, due to higher average sales prices; (ii) US$15 million higher energy transportation costs, caused by
the increased payment that Codensa had to make for the incorporation of new construction units (assets used directly in
the transmission system and that must be prorated proportionally among the system operators); and (iii) US$13 million higher
costs of other supplies and services. All the above is partially offset by the US$17 million positive effect of cost reductions
related to the conversion effects as a result of the devaluation of the Colombian peso against the US dollar.
Staff expenses decreased by US$11 million mainly due to restructuring costs registered in 2020, not present during 2021.
Other expenses by nature decreased by US$2 million compared to the previous year due to lower contracting of outsourced
services.
In the fourth quarter of 2021, EBITDA of our distribution segment in Colombia reached US$142 million, exceeding by US$14
million the figure reached in the fourth quarter of 2020. This increase is mainly due to: (i) US$37 million for higher physical
sales volume (+149 GWh) and better average sales prices; (ii) US$20 million due to higher revenues from recognition of
investments, which are remunerated at a higher rate due to a greater regulatory base of the assets; and (iii) US$7 million
for higher Colpatria contract revenues linked with the recovery of clients who are in payment arrears. The foregoing partially
offset by: (i) US$42 million higher costs primarily from energy purchases at higher prices as compared to the same quarter
of the previous year; and (ii) US$8 million negative effect due to the conversion of figures, caused by the devaluation of the
Colombian peso against the US dollar.
Subsidiaries
Codensa
Energy Losses (%)
December
2021
7.5%
December
2020
7.6%
% Change
(1.3%)
December
2021
3.71
Clients (million)
December
2020
3.62
% Change
2.6%
596
Integrated Annual Report Enel Américas 2021
Peru
Subsidiaries
Cumulative figures
Quarterly figures
Enel Distribución Perú
219
214
5
2.4%
48
51
(3)
(5.3%)
FY 2021
FY 2020
Change
% Change
Q4 2021
Q4 2020
Change
% Change
EBITDA (million US$)
EBITDA of our subsidiary Enel Distribución Perú S.A. reached US$219 million as of December 2021, which represents an
increase of US$5 million compared to the previous year.
Enel Distribución Perú: US$5 million higher EBITDA mainly due to an increase in sales prices offset by lower results due to
the conversion effects related to the new Peruvian sol against the US dollar.
Operating revenues at Enel Distribución Perú increased by US$9 million, mainly explained by: (i) US$89 million higher energy
sales due to an increase in average sales prices, combined with an increase in physical sales (+552 GWh); (ii) US$18 million
other services such as connections, maintenance, and reconnections. All this offset by US$98 million due to the conversion
effects of the devaluation of the new Peruvian sol against the US dollar.
Operating costs increased by US$6 million which is mainly explained by: (i) US$62 million for higher energy purchase costs
both in physical volume and in higher average purchase price; (ii) US$10 million costs of other services such as connections,
reconnections and maintenance. We must deduct from the number the US$66 million positive effect of reducing sale costs
as a result of the conversion effect caused by the devaluation of the new Peruvian sol against the US dollar.
Enel Distribución Peru's staff expenses decreased by US$2 million as a result of the activation of labor in fixed asset projects.
Enel Distribución Perú's other expenses by nature remained in line with the previous year.
Regarding the fourth quarter of 2021, the EBITDA of our distribution segment in the subsidiary Enel Distribución Perú reached
US$48 million, US$3 million less than the figure reached in the fourth quarter of 2020, which is mainly explained by: (i) US$18
million higher costs related to increase of energy purchased, partially offset by a lower average purchase price; and (ii) a US$6
million net negative effect related to the conversion of figures by the devaluation of the new Peruvian against the US dollar.
All above is partially offset by: (i) US$19 million higher revenues of energy sales due to an increase in average sales prices, and
higher volumes of physical energy (+75 GWh); and (ii) US$2 million higher revenues from other services such as connections,
maintenance, and reconnections.
Subsidiaries
Enel Distribución Perú
Energy Losses (%)
December
2021
8.5%
December
2020
8.8%
% Change
(3.4%)
December
2021
1,49
Clients (million)
December
2020
1,46
% Change
2.5%
Consolidated Financial Statements 597
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Depreciation, Amortization, Impairment
Below we present by segment and by country a summary of EBITDA, Depreciation, Amortization and Impairment costs and
EBIT for Enel Américas Group’s subsidiaries for the periods ended on December 31, 2021 and 2020.
Segment
Generation and Transmission:
Argentina
Brazil
Colombia
Peru
Central America
EBITDA
135
562
787
323
158
Total Generation and Transmission
1,965
Distribution:
Argentina
Brazil
Colombia
Peru
Total Distribution
Less: consolidation adjustments
and other activities
23
1,432
554
219
2,228
(91)
Depreciation,
amortization
and
impairment
FY 2021
(191)
(96)
(70)
(68)
(28)
(453)
(91)
(679)
(136)
(65)
(971)
(14)
Cumulative figures (million US$)
EBIT
EBITDA
(56)
466
717
255
130
140
297
673
272
-
1,512
1,382
(68)
753
418
154
1,257
(105)
50
1,186
507
214
1,957
(86)
Depreciation,
amortization
and
impairment
FY 2020
(86)
(24)
(67)
(64)
-
(241)
(118)
(534)
(132)
(72)
(856)
(4)
EBIT
54
273
606
208
-
1,141
(68)
652
375
142
1,101
(90)
Total Consolidated Enel Américas
4,102
(1,438)
2,664
3,253
(1,101)
2,152
Segment
Generation and Transmission:
EBITDA
Argentina
Brazil
Colombia
Peru
Central America
Total Generation and Transmission
Distribution:
Argentina
Brazil
Colombia
Peru
Total Distribution
Less: consolidation adjustments
and other activities
33
171
203
92
54
553
8
443
142
48
641
(15)
Quarterly figures (million US$)
EBIT
EBITDA
Depreciation,
amortization
and
impairment
Q4 2021
Depreciation,
amortization
and
impairment
Q4 2020
EBIT
(122)
(27)
(18)
(24)
(9)
(200)
(31)
(180)
(37)
(16)
(264)
(14)
(89)
144
185
68
45
353
(23)
263
105
32
377
(29)
25
131
160
72
-
388
23
457
128
51
659
(20)
(19)
(5)
(18)
(18)
-
(60)
(49)
(126)
(28)
(20)
(223)
(4)
6
126
142
54
-
328
(26)
331
100
31
436
(24)
Total Consolidated Enel Américas
1,179
(478)
701
1,027
(287)
740
598
Integrated Annual Report Enel Américas 2021
Depreciation, amortization, and impairment reached US$1,438 million as of December 2021, increasing by US$337 million
in net terms as compared to the year 2020.
Depreciation and amortization reached US$993 million as of December 2021, representing a US$135 million increase compared
to the same period of the previous year. This is mainly explained by the following effects: increments of (i) US$99 million from
EGP Américas companies which were incorporated into the consolidation perimeter as of April 1, 2021; (ii) US$9 million in Edesur
composed of the US$27 million greater depreciation due to new investments, less US$18 million as a result of the devaluation
of the Argentine peso against the US dollar; (iii) US$2 million in Enel Distribución Rio composed of US$6 million for greater
depreciation due to higher activations, offset by US$4 million due to the conversion effects resulting from the devaluation of
the Brazilian real against the US dollar; (iv) US$2 million in Enel Distribución Ceará composed of US$5 million due to higher
depreciations due to higher activations, offset by US$3 million due to the conversion effects resulting from the devaluation of
the Brazilian real against the US dollar; (v) US$8 million in Enel Distribución Goias, composed of US$11 million due to higher
depreciations resulting from higher activations, offset by US$3 million due to the conversion effects from the devaluation of
the Brazilian real against the US dollar; (vi) US$8 million in Codensa, composed of US$10 million for greater depreciations due
to higher activations, offset by US$2 million due to the conversion effects from the devaluation of the Colombian peso against
the US dollar; (vii) US$6 million in Enel Cachoeira Dourada, composed of US$7 million for greater depreciation due to higher
activations, offset by US$1 million due to the conversion effects resulting from the devaluation of the Brazilian real against the
US dollar; and (viii) US$21 million higher depreciation in Argentinean generation companies due to the effect of the higher
depreciable base resulting from hyperinflation.
All of these increases are partially offset by the following decreases (i) US$9 million in Enel Distribución Sao Paulo, due to the
conversion effects from the devaluation of the Brazilian real against the US dollar; and (ii) US$11 million in Enel Generación
Perú composed of US$7 million lower depreciable base in 2021 and US$4 million conversion effect due to devaluation of the
new Peruvian sol against the US dollar.
On the other hand, the impairment losses under IFRS 9 "Financial Instruments" and IAS 36 "Impairment of Assets" totaled
US$445 million as of December 2021, which represents a US$ 202 million increase compared to the previous year, which
is mainly explained by: (i) US$102 million composed of increases in impairment caused by the evaluation of financial assets,
in distribution companies in Brazil totaling US$112 million, mainly in Enel Distribución Sao Paulo and Enel Distribución Rio,
partially offset by reversals of provisions for impairment of financial assets set up in 2020 in Edesur totaling US$10 million,
due to lower expected credit losses; (ii) US$100 million for recognition of impairment in long-lived assets, highlighting the
US$82 million loss due to the application of recoverability tests recognized in Enel Generación Costanera.
In the fourth quarter ended December 31, 2021, depreciation, amortization, and impairment totaled US$478 million, increasing
by US$191 million in net terms compared to 2020. Of this increase, US$56 million correspond to higher depreciation and
amortization, explained by: (i) US$33 million higher depreciation due to the incorporation of EGP Américas; (ii) US$9 million
in Edesur composed of a US$ 14 million increase due to higher depreciations because of new investments, less US$5 million
as a result of the devaluation of the Argentine peso against the US dollar; and (iii) US$5 million for Enel Cachoeira Dourada
for a larger base of depreciable assets.
In relation to impairment losses in accounts receivable and cash-generating units in the October-December 2021 quarter,
there was a US$135 million increase as compared to the same period of 2020, composed of: (i) US$47 million increase in the
recognized impairment on the financial assets receivable of distribution companies in Brazil; and (ii) US$82 million recognition
of loss due to the application of a recoverability test on long-lived assets in the subsidiary Enel Generación Costanera.
Consolidated Financial Statements 599
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Non-operating income
The following table presents the non-operating consolidated income for the periods ended on December 31, 2021, and 2020:
Cumulative figures (million US$)
Quarterly figures (million US$)
FY 2021
FY 2020
Change % Change
Q4 2021 Q4 2020
Change
NON OPERATING INCOME CONTINUING
OPERATIONS
Financial Income
Argentina
Brazil
Colombia
Peru
Central America
Consolidation adjustments and other activities
Total Financial Income
Financial Expenses
Argentina
Brazil
Colombia
Peru
Central America
Consolidation adjustments and other activities
Total Financial Expenses
Foreign currency exchange differences, net
Argentina
Brazil
Colombia
Peru
Consolidation adjustments and other activities
Total Foreign currency exchange differences, net
Total results by adjustment units (hyperinfla-
tion - Argentina)
90
181
15
6
3
-
295
(247)
(618)
(109)
(29)
(6)
(43)
(1,052)
92
(42)
(3)
(7)
(42)
(2)
31
86
112
14
6
-
4
222
(148)
(415)
(132)
(31)
-
(42)
(768)
51
(89)
(1)
(1)
97
57
4
69
1
(0)
3
(4)
73
(99)
(203)
23
2
(6)
(1)
(284)
41
47
(2)
(6)
(139)
(59)
5.0%
61.9%
6.0%
(10.8%)
-
(87.8%)
32.8%
66.5%
48.9%
(17.4%)
(7.6%)
-
3.4%
36.9%
79.2%
(52.5%)
146.3%
404.3%
(143.0%)
(103.0%)
28
51
4
2
1
-
86
(79)
(208)
(28)
(5)
(2)
(16)
(338)
82
(35)
0
1
(67)
(19)
45
21
3
2
-
-
71
(71)
(117)
(28)
(7)
-
(15)
(238)
21
56
3
(2)
(28)
50
%
Change
(39.0%)
146.9%
64.4%
14.4%
-
-
21.9%
10.3%
77.1%
2.0%
(25.1%)
-
9.4%
42.1%
(17)
30
1
-
1
-
15
(8)
(91)
(0)
2
(2)
(1)
(100)
61
(91)
(3)
3
(39)
(69)
287.6%
(163.3%)
(83.1%)
(144.1%)
136.7%
(138.5%)
77
(46)
(60.0%)
(65)
19
(84)
(433.7%)
Net Financial Income Enel Américas
(728)
(412)
(316)
76.5%
(336)
(98)
(239)
(241.4%)
Other gains (losses)
Argentina
Brazil
Colombia
Peru
Central America
Consolidation adjustments and other activities
Total Other gains (losses)
Share of profit (loss) of associates accounted
for using the equity method:
Argentina
Total Share of profit (loss) of associates
accounted for using the equity method
Total Non Operating Income
1
1
1
0
-
-
3
1
1
4
(0)
1
0
4
-
-
5
3
3
8
1
(0)
1
(4)
-
-
(2)
(2526.2%)
(39.9%)
416.1%
(99.3%)
-
-
(31.1%)
(2)
(2)
(62.3%)
(62.3%)
(4)
(43.9%)
2
0
1
0
-
-
3
-
-
3
0
0
0
(0)
-
-
0
-
-
0
1
(0)
1
0
-
-
3
-
-
960.7%
(66.5%)
539.2%
-
-
-
508.3%
-
-
3
946.9%
Net Income Before Taxes
1,941
1,748
193
11.0%
368
642
(274)
(42.6%)
Income Tax
Argentina
Brazil
Colombia
Peru
Central America
Consolidation adjustments and other activities
Total Income Tax
Net Income after taxes
Net Income attributable to owners of parent
Net income attributable to non-controlling
interest
(138)
(183)
(327)
(126)
(33)
1
(806)
1,135
741
394
(36)
(148)
(287)
(92)
-
(4)
(567)
1,181
825
356
(102)
(35)
(40)
(34)
(33)
5
(239)
(47)
(84)
38
282.5%
24.0%
14.1%
36.8%
-
(128.7%)
42.3%
(4.0%)
(10.2%)
10.6%
5
(30)
(82)
(31)
(11)
2
(147)
221
119
102
5
(116)
(73)
(25)
-
(1)
(210)
432
339
93
(0)
86
(9)
(6)
(11)
3
63
(10.0%)
(74.5%)
12.4%
21.3%
-
(421.8%)
(29.9%)
(211)
(220)
9
(48.8%)
(64.9%)
9.6%
600
Integrated Annual Report Enel Américas 2021
Financial Income
Financial income was a US$728 million loss as of December 2021, which represents a US$316 million increase as compared
to the loss registered in the previous year. This variation is explained as follows:
(a) US$ 73 million higher financial income, mainly explained by: (i) US$10 million increased interest receivable associated with
clients for the sale of energy mainly in distribution subsidiaries in Brazil; (ii) US$25 million higher income from the updating
of financial investments in Argentinean subsidiaries; (iii) US$28 million for the monetary update of the regulatory assets of
distribution companies in Brazil due to a CPI that in 2021 reached 10% as compared to 5% registered in 2020; (iv) US$25 million
for recognition of revenues from derivative operations in Enel Distribución Sao Paulo during 2021 not present the previous
year; and (v) US$10 million associated with the financial income from the incorporation of the EGP Américas subsidiaries. All
the above is partially offset by the US$25 million negative effect of extraordinary income recognized in 2020 due to a change
in the valuation of investments in Termoeléctrica Belgrano and Termoeléctrica San Martin.
In the fourth quarter ended December 31, 2021, the variation in financial income with respect to the same period of 2020
reached US$15 million, corresponding to: (i) US$21 million for the monetary update of the regulatory assets of the Distribution
Companies in Brazil; (ii) US$3 million associated with the financial income from the incorporation of the EGP Américas
subsidiaries; (iii) US$8 million from derivative operations; and (iv) US$8 million higher updating of financial investments in
Argentinean subsidiaries. All of the above partially offset by the US$25 million negative effect of extraordinary income recognized
in 2020 due to a change in the valuation of investments in Termoeléctrica Belgrano and Termoeléctrica San Martin.
(b) US$284 million higher financial expenses mainly attributable to: (i) US$99 million in Edesur, mainly explained by financial
update for debt with energy purchasing supplier (CAMMESA); (ii) US$56 million higher financial expenses associated with
an increased level of bank indebtedness, mainly in the subsidiaries Enel Distribución Sao Paulo (US$ 37 million) and the
incorporation of the EGP Américas Companies totaling US$19 million; (iii) US$16 million higher net financial expense on
unguaranteed obligations, mainly Enel Distribución Ceará (US$12 million), Enel Distribución Goiás (US$12 million), Codensa
(US$6 million), offset by lower expenses associated with net payments of unguaranteed obligations made by Emgesa (US$14
million); (iv) US$97 million higher financial expenses for derivative transactions, mainly in Brazilian companies; and (v) US$16
million higher financial expense due to increased indebtedness with related companies outside the consolidation perimeter;
mainly Enel Distribución Goias (US$12 million) and the EGP Américas incorporated companie (US$4 million).
In the fourth quarter of 2021, the variation in financial expenses had a US$100 million increase compared to the same period
of the previous year, which is explained by: (i) Edesur with US$6 million, originated mainly in the financial update for debt with
the supplier of energy purchases and provisions update (CAMMESA); (ii) US$44 million higher financial expenses for the
recognition of derivative operations, mainly in our distribution subsidiaries in Brazil; (iii) US$10 million for updating sectoral
liabilities in Brazil; (iv) US$14 million for increased financing with related companies outside the consolidation perimeter, mainly
Enel Distribución Rio and Enel Distribución Goias; (v) US$11 million higher financial costs due to a higher level of bank debt,
mainly in the subsidiary Enel Distribución Sao Paulo; and (vi) US$15 million higher financial expense due to higher unguaranteed
obligations mainly in our distribution subsidiaries in Brazil.
(c) The results from readjustments decreased by US$46 million and correspond to the financial result stemming from the
application of IAS 29 Financial Information in Hyperinflationary Economies in Argentina. They reflect the net balance arising
from applying inflation to non-cash assets and liabilities and income statements that are not determined on an updated
basis, converted to U.S. dollar at closing exchange rates. The decrease in 2021 compared to the previous year is explained by
a decrease in the position of net liabilities exposed to the inflationary process in Argentina.
In the fourth quarter of 2021, the effect of hyperinflation in Argentina led to an US$84 million decrease in the income statement
by readjustment units, for the same reason explained in the previous paragraph.
(d) The exchange differences led to a US$59 million negative variation compared to the previous year, mainly explained by: (i)
US$34 million higher losses in the subsidiary Cachoeira Dourada due to the update of accounts payable in foreign currency
for the import of energy from Argentina and Uruguay, as a result of the devaluation of the Brazilian real against the US dollar in
2021, compared with a small profit in 2020, given that when import operations began in the last quarter of 2020, the Brazilian
real showed an appreciation against the US dollar; (ii) US$11 million lower profit due to the update of the VOSA credits, given
the lower devaluation experienced by the Argentine peso against the US dollar in 2021 compared to 2020, and lower capital
in dollars due to amortization; and (iii) US$14 million, for updating debts held by our subsidiaries in Brazil with related entities
outside the consolidation perimeter of Enel Americas.
Consolidated Financial Statements 601
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In terms of the fourth quarter ended on December 31, 2021, there was a US$69 million negative variation which is mainly
explained by higher losses due to updates related to debts maintained by our subsidiaries in Brazil with related entities outside
the consolidation perimeter of Enel Américas, as a result of the devaluation of the Brazilian real against the US dollar, which is
compared with profits registered in 2020 on the same group of debts that benefited from the appreciation experienced by
the Brazilian real against the US dollar.
(e) Corporate Income Tax reached US$806 million as of December 31, 2021, which represents a US$239 million increase as
compared to the expense registered in the previous year, mainly explained by: (i) higher tax expenses for better financial results
(EBT) in: Enel Brasil with US$7 million, Enel Generación Fortaleza with US$13 million, Enel Generación Perú with US$14 million,
Enel Distribución Codensa with US$9 million, Enel Distribución Ceará with US$9 million, Emgesa with US$17 million, Edesur
with US$15 million, Enel Distribución Peru with US$9 million and Enel Trading Brasil with US$26 million; (ii) higher expenses
related to income taxes and deferred taxes in subsidiaries in Argentina, due to the adaptation of deferred taxes because of
the tax reform approved by the Argentine Government, where the nominal rate increased from 30% to 35%, detailed as follows:
Edesur with US$101 million, Enel Generación Costanera with US$11 million, Central Dock Sud with US$4 million, offset by
Enel Generación El Chocón with US$7 million; (iii) a tax increase in the Colombian subsidiaries due to the modification of the
tax rate from 30% to 35% for the income taxed as of 2022, but that because of the recognition of deferred taxes according to
the current rate on the reversal was supposed to be recognized in 2021 an increased charge to the results by US$13 million,
composed of: Emgesa with US$12 million and Codensa with US$1 million; and (iv) US$59 million higher expenses due to
variation in the consolidation perimeter as of April 1, 2021 as a result of the merger with EGP Américas.
This was partially offset by lower taxes due to lower income in the subsidiaries Enel Distribución Goiás with US$23 million and
Cachoeira Dourada with US$38 million.
Corporate Income Tax reached US$147 million in the fourth quarter of 2021, which represents a US$63 million decrease as
compared to the figure registered in the same quarter of the previous year, mainly explained by: lower tax expenses due to
worse financial results (EBT) in Enel Generación Costanera with US$36 million, Enel Brasil with US$42 million, Enel Distribución
Sao Paulo with US$38 million, and Cachoeira Dourada with US$18 million.
This was partially offset by higher taxes due to better financial results (EBT) in Edesur with US$23 million, Emgesa with US$12
million, and in Enel Cien with US$36 million.
Analysis of the financial statement
Assets
December 2021
December 2020
Change
% Change
Current Assets
Non current Assets
Total Assets
7,062
27,897
34,959
(million US$)
6,179
20,755
26,934
883
7,142
8,025
14.3%
34.4%
29.8%
Enel Américas' total assets as of December 31, 2021, increased by US$8,025 million compared to total assets as of December
31, 2020, mainly as a result of:
Current Assets showed a US$883 million increase equivalent to 14.3%, mainly explained by:
• A US$111 million decrease in Cash and Cash Equivalents mainly composed of: (1) US$2,616 million net income from
operating flows corresponding to charges for sales and provision of services, net of payments to suppliers and others; (2)
US$595 million net outgoings from financing activities flows corresponding to: (i) US$2,191 million loan payments; (ii)
US$668 million obligations to the public; (iii) US$445 million related companies; (iv) US$963 million dividend payments;
(v) US$339 million interest payments; and (vi) payments of financial lease liabilities totaling US$65 million. This was partially
offset by: (i) financing obtained from third parties; US$2,459 million in bank loans, US$268 million in third-party bonds and
US$1,275 million from related companies, including EFI loans to Enel Américas, Enel Distribución Goiás, Enel Distribución
Ceará and Enel Distribución Rio, and (ii) US$74 million other cash inflows; (3) net outgoings for investment activities totaling
US$ 1,935 million corresponding to: (i) US$1,817 million disbursements for the incorporation of plant and equipment
properties; (ii) US$1,194 million payments for the incorporation of intangible assets; (iii) US$1,265 million investments over
90 days. These investment cash outflows were offset by: (i) US$29 million Interest received; (ii) US$1,248 million redemption
of investments over 90 days; (iii) US$34 million collections from related entities net of payments; and (iv) US$1,031 million
incorporation of the initial cash and cash equivalent balances of EGP Américas companies as of April 1, 2021; and (4) US$197
million decrease due to the change in exchange rates on cash and cash equivalents.
602
Integrated Annual Report Enel Américas 2021
• A US$82 million increase in Other Current Financial Assets mainly explained by: (i) US$38 million increased investments
in financial assets at fair value with changes in income, and (ii) a US$37 million increase in investments in financial assets
measured at amortized cost.
• A US$268 million increase in other Current Non-Financial Assets mainly explained by: (i) higher PIS and COFINS receivables
recognized to grant refunds to clients; Enel Distribución Goiás with US$105 million and Enel Distribución Rio with US$81
million; (ii) a US$54 million increase for VAT tax credit and other taxes to be recovered; and (iii) US$20 million increased
contribution fund in Enel Distribución Goias.
• A US$476 million increase in Commercial Accounts Receivable and other current accounts receivable mainly explained
by: (i) US$ 171 million commercial accounts of EGP Américas companies; (ii) US$142 million increase in distribution
companies mainly due to the application of tariff readjustments and an increase in the average collection periods in
distribution companies, due to the economic difficulties caused by the Pandemic and the collection restrictions established
by governments; and (iii) US$457 million increase in regulatory assets (CVA) in Brazil, as a result of the increase in the cost
of energy caused by the water crisis. All this was partially offset by the US$294 million negative conversion effect caused
by the devaluation of the functional currencies of Enel Américas' subsidiaries against the US dollar.
• A US$27 million increase in Current Accounts Receivable to Related Entities basically explained by commercial transactions
of Generadora Montecristo in Guatemala with a related company outside the EFI consolidation perimeter.
• A US$67 million increase in Inventories explained by increased maintenance of electrical supplies in our distribution
subsidiaries in Brazil, according to the following detail: Enel Distribución Sao Paulo with US$26 million, Enel Distribución
Ceará with US$22 million and Enel Distribución Goiás with US$19 million.
• US$74 million increase in Current Tax Assets explained by US$42 million higher income tax advances in Enel Generación
Perú and US$33 million in Enel Distribución Río.
• US$ 7,142 million Increase in Non-Current Assets, equivalent to 34.4%, mainly due to:
• US$682 million increase in Other Non-Current Financial Assets mainly explained by: (i) financial update of IFRIC 12 receivables
for our Brazilian subsidiaries reflecting a US$246 million increase; (ii) a US$114 million increase due to the incorporation
of assets according to IFRIC 12 in PH Chucás in Costa Rica; (iii) a US$381 million increase in new investments under IFRIC
12 in our Brazilian subsidiaries; and (iv) a US$142 million increase in hedging derivatives.
• All of the above partially offset by the effects of the devaluation of the Brazilian real against the US dollar as of December
31, 2021, which determines a US$231 million decrease in accounts receivable generated according to IFRIC12.
• A US$813 million increase in Other Non-Current Non-Financial Assets which is mainly explained by: (i) higher taxes to recover
from PIS and COFINS at Enel Distribución Goiás totaling US$447 million and Enel Distribución Río with US$514 million (ii)
a US$271 million increase in assets under construction according to IFRIC 12 corresponding to Brazilian subsidiaries. All
of the above partially offset by: (i) US$252 million reduction of the assets recognized in 2020 in Enel Distribución Sao Paulo
and Enel Distribución Ceará for taxes to be recovered on behalf of clients; and (ii) US$ 156 million reduction due to the
conversion effect related to the devaluation of the Brazilian real against the U.S. dollar.
• A US$146 million increase in accounts receivable and other non-current receivables mainly explained by an extension in
the collection terms of energy accounts in the Brazilian subsidiaries Enel Distribución Sao Paulo with US$110 million and
Enel Distribución Rio with US$36 million.
• A US$231 million increase of intangibles other than goodwill composed mainly by: (i) a US$334 million increase by business
combination mainly due to the incorporation of the EGP Américas companies; (ii) US$536 million new investments mainly
in distribution companies in Brazil; (iii) a US$26 million increase due to hyperinflation in Argentina; and (iv) US$134 million
other net increases. This was partially offset by: (i) US$431 million amortizations; and (ii) a US$ 368 million decrease related
to the negative conversion effect due to the devaluation of the different currencies in which we operate against the US dollar.
• A US$525 million increase in goodwill, explained mainly by the incorporation of the EGP Américas businesses totaling
US$587 million and US$62 million less due to the conversion effects because of the devaluation of the different currencies
in which we operate versus the US dollar.
• A US$4,643 million increase in Plant and Equipment Property composed mainly of: (i) a US$ 3,952 million increase mainly
due to the incorporation of the EGP Américas assets; (ii) US$726 million inflation increases from the application of IAS 29
Consolidated Financial Statements 603
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in our Argentinean subsidiaries; (iii) a US$1,761 million increase in new investments; (iv) US$549 million depreciation of
the period; (v) a US$1,176 million decrease due to the conversion effects of the functional currencies of each subsidiary to
the US dollar; (iv) a US$ 82 million decrease due to the recognition of asset recoverability test in Enel Generación Costanera,
(v) a US$11 million increase due to other movements.
• A US$ 106 million increase in “right to use” assets composed of: (i) a US$31 million increase mainly due to the incorporation
of the assets of EGP Américas; (ii) a US$135 million increase for new investments; (iii) US$36 million depreciation of the
period; and (iv) a US$24 million decrease mainly due to the conversion effects from the functional currencies of each
subsidiary to the US dollar.
Liabilities and Equity
December 2021
December 2020
Change
% Change
Current Liabilities
Non Current Liabilities
Total Equity
attributable to owners of parent company
attributable to non-controlling interest
Total Liabilities and Equity
(million US$)
7,796
12,133
15,030
12,833
2,197
34,959
7,277
9,323
10,334
8,106
2,228
26,934
518
2,811
4,696
4,727
(30)
8,025
7.1%
30.1%
45.4%
58.3%
(1.4%)
29.8%
Enel Américas’ total assets and liabilities as of December 31, 2021 increased by US$8,025 million as compared to December
2020, mainly as a result of:
Current Liabilities increased by US$518 million or 7.1%, mainly explained by:
• A US$ 592 million decrease in other Current Financial Liabilities mainly explained by: (i) a US$332 million decrease in Enel
Américas Holding as a result of credit cancellations totaling US$545 million, offset by US$213 million new credit acquisitions;
(ii) a US$249 million decrease in Enel Distribución Sao Paulo due to US$559 million credit cancellations, partially offset by
US$250 million long-term debt transfers and new credits totaling US$60 million; (iii) a US$ 103 million decrease as a result
of the negative effect due to the devaluation of the functional currencies of Enel Américas' subsidiaries against the US dollar.
All the above is partially offset by the US$83 million increase in financial liabilities due to the incorporation of balances of
EGP Américas companies as of April 1, 2021.
• A US$819 million increase in Commercial Accounts and other current accounts payable mainly explained by: (i) a US$118
million increase due to the incorporation of the EGP Américas companies into the consolidation perimeter on April 1; (ii)
a US$511 million increase due to higher liabilities for purchases of goods, services and assets in distribution companies
in Brazil; (iii) a US$289 million increase of accounts payable registered by Edesur to be paid to CAMMESA; (iv) a US$186
million increase of PIS COFINS collected to be returned to third parties in Enel Distribución Rio and Enel Distribución Goias.
All of the above offset by the US$285 million negative conversion effect stemming from the devaluation of the functional
currencies of Enel Américas' subsidiaries against the US dollar.
• US$359 million increase in Current Accounts Payable to related companies mainly explained by: (i) US$71 million short-term
portion of loans to long-term granted by EFI to distribution companies in Brazil; and (ii) US$ 282 million increased balances
with companies related to the holding company providing technical, engineering and IT services to EGP Américas companies
recently incorporated as of April 1, 2021, mainly Enel SpA for technical services totaling US$127 million, Enel Green Power
SpA with US$112 million for technical and engineering services, and US$43 million with Enel Global Service for IT services.
• A US$ 56 million decrease of other current provisions explained by a US$ 60 million decrease in provision of legal claims.
• A US$40 million decrease in current tax liabilities mainly explained by US$21 million lower tax provisions payable in Codensa
and US$26 million in Enel Distribución Ceará.
• A US$20 million increase in other current non-financial liabilities mainly explained by higher VAT tax debit due at the end
of December 31, 2021.
Non-Current Liabilities increased by US$2,811 million equivalent to 30.1%, a variation mainly explained by:
• A US$ 1,080 million increase in other non-current financial liabilities (financial debt and derivatives) mainly explained by: (i)
a US$894 million increase from the balances incorporated by the EGP Américas companies; (ii) a US$441 million increase
in debt in Enel Distribución Sao Paulo as a result of obtaining new loans totaling US$691 million partially offset by US$250
million short-term transfers; and (iii) a US$118 million increase in debt in Enel Distribución Ceará caused by hiring US$190
604
Integrated Annual Report Enel Américas 2021
million of financial obligations partially offset by short-term transfers of US$72 million. All of the above partially offset by: (i)
a US$ 202 million decrease in debt in Enel Distribución Río as a result of short-term transfers of US$261 million and new
loan totaling US$59 million, and (ii) US$164 million negative conversion effect of the devaluation of the functional currencies
of Enel Américas' subsidiaries against the US dollar.
• A US$628 million increase in commercial accounts payable and other non-current accounts payable mainly explained by
higher PIS COFINS taxes payable in Enel Distribución Goiás totaling US$ 447 million and US$514 million in Enel Distribución
Río. These liabilities represent the obligation to reimburse end clients for taxes recovered. The foregoing partially offset by: (i)
US$102 million negative effect corresponding to the conversion effects due to the devaluation of the Brazilian real against
the US dollar; and (ii) a US$252 million decrease due to the revaluation of liabilities receivable on behalf of recognized clients
in 2020 in Enel Distribución Sao Paulo and Enel Distribución Ceará.
• A US$ 918 million increase in Non-current Accounts Payable to related entities explained by loans from EFI to Enel
Distribución Rio totaling US$312 million, Enel Distribución Goais with US$412 million and Enel Distribución Ceará with
US$91 million. Additionally, EFI loans totaling US$90 million to EGP Américas companies incorporated as of April 1, 2021.
• A US$266 million increase in Deferred Tax Liabilities. The increase is mainly due to: (i) US$171 million for the revaluation of
deferred taxes in Argentine subsidiaries, mainly in Edesur as a result of the rate change implemented by the government,
bringing taxes from 30% to 35%; and (ii) US$88 million from the inclusion of the balances from the incorporation of the
EGP Américas companies as of April 1, 2021.
• A US$201 million decrease in provisions for non-current benefits to employees mainly explained by: (i) US$174 million
decrease in contributions made during the year; (ii) US$120 million due to the conversion effect due to the devaluation of
local currencies against the US dollar; and (iii) US$31 million for changes in actuarial variables. All of the above offset by a
US$111 million increase due to interest accruals on obligations.
• Total Equity increased by US$ 4,696 million equivalent to 45.4% explained by:
• Equity attributable to majority owners increased by US$4,727 million mainly explained by: (i) US$6,036 million for capital
increase from the incorporation of EGP Américas as of April 1, 2021; (ii) a US$741 million increase in net income for the
year; and (iii) a US$10 million equity increase in cash flow coverage reserves. The above partially offset by a decrease in: (i)
US$387 million dividend payment; (ii) a US$882 million decrease due to recognition of conversion differences associated
with investments abroad, and (iii) US$791 million equity decreases due to a decrease in other miscellaneous reserves.
• Non-controlling interests decreased by US$30 million and are mainly explained by: (i) a US$ 535 million decrease due to
the payment of dividends; (ii) a US$ 302 million decrease in the integral results mainly due to conversion differences; and
(iii) a US$ 413 million increase mainly due to reserves associated with hyperinflation in Argentina. These effects must be
complemented by a US$394 million equity increase due to the net income during the period.
Consolidated Financial Statements 605
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The development of the main financial indicators is as follows
Financial
Indicator
Liquidity
Leverage
Profitability
Current liquidity (1)
Acid ratio test (2)
Working Capital
Leverage (3)
Short Term Debt (4)
Long Term Debt (5)
Financial Expenses
Coverage (6)
Operating Income/
Operating Revenues
ROE (annualized) (7)
ROA (annualized) (8)
Unit
Times
Times
MMUSD
Times
%
%
Times
%
%
%
December
2021
December
2020
Change
% Change
0,91
0,84
(733)
1,33
39.1%
60.9%
4,01
16.5%
7.1%
3.7%
0,85
0,78
(1.098)
1,61
43.8%
56.2%
5,13
17.5%
9.1%
4.2%
0,06
0,05
365
(0,28)
(4.7%)
4.7%
(1,12)
(1.1%)
(2.0%)
(0.5%)
6.7%
6.7%
(33.2%)
(17.5%)
(10.8%)
8.4%
(21.8%)
(6.0%)
(22.2%)
(12.7%)
(1) It corresponds to the ratio between (i) Current Assets and (ii) Current Liabilities.
(2) It corresponds to the ratio between (i) Current Assets net of Inventories and anticipated Expenses and (ii) Current Liabilities.
(3) It corresponds to the ratio between (i) Total Liabilities and (ii) Total Equity.
(4) It corresponds to the proportion of (i) Current Liabilities in relation to (ii) Total Liabilities
(5) It corresponds to the proportion of (i) Non-Current Liabilities in relation to (ii) Total Liabilities.
(6) It corresponds to the ratio between (i) the Gross Operating Income and (ii) Net financial result of Financial Income.
(7) It corresponds to the ratio between (i) Net Income attributable to owners at the end of the year as of December 31, 2021 and (ii) the average
between Equity attributable to owners at the beginning and end of the period.
(8) It corresponds to the ratio between (i) total result at the end of the year as of December 31, 2021 and (ii) the average of total assets at the
beginning of the period and at the end of the period.
− The Company’s Current liquidity as of December 31, 2021 reached 0.91 times, presenting a 6.7% increase as compared
to the previous year, mainly explained by the growth of current assets in greater proportion than current liabilities with
the incorporation of EGP Américas as of April 1.
− The Company’s Acid Test as of December 31, 2021 reached 0.84 times, presenting a 6.7% increase as compared to
December 31, 2020, also explained by the incorporation of current assets higher than the current liabilities of EGP Américas.
− The Company’s Working capital as of December 31, 2021 corresponds to a negative US$733 million value, which reflects
an improvement as compared to the same date of the previous year, where it reached a negative US$1,098 million value.
− The Company’s Leverage (indebtedness ratio) stood at 1.33 times as of December 31, 2021, which represents a 17.5%
decrease as compared to December 31, 2020, explained by the increase in Dominant Shareholding Equity, mainly due
to the capital increase that occurred on April 1, 2021 to complete the incorporation of EGP Américas.
− The Hedging of financial costs as of the period that ended on December 31, 2021 was 4.01 times, 21.8% lower than
the one in the previous year.
− The Return-on-equity (profitability) index, measured in terms of operating income over operating revenues reached
16.5% as of December 31, 2021.
− The Return-on-equity of the owners of the controlling shareholder reached 7.1%, which represents a 22.2% decrease
as compared to previous year’s indicator, as a result of a decrease in the income attributable of the parent company in
2021 as compared to 2020, and the dominant equity increase due to the incorporation of EGP Américas.
− The Return-on-assets stood at 3.7% as of December 31, 2021, which represents a 12.7% decrease as a result of the
incorporation of the EGP Américas assets as of April 1, 2021, added to a decrease in the income during 2021.
606
Integrated Annual Report Enel Américas 2021
Main cash flows
The Company’s net cash flows were positive as of December 31, 2021, reaching US$87 million, which represents a US$385
million increase in relation to the previous year.
The main variables by flows from the operating, investment and financing activities that explain this increase in net cash flows,
as compared to December 2020 are described below:
Net Cash Flow
December 2021
December 2020
Change
% Change
From Operating Activities
From Investing Activities
From Financing Activities
Total Net Cash Flow
2,616
(1,934)
(595)
87
(million US$)
2,426
(1,537)
(1,187)
(298)
190
(397)
592
385
7.8%
25.9%
(49.9%)
(129.2%)
Net cash flows from operating activities reached US$2,616 million as of December 2021, representing a 7.8% increase as
compared to December of the previous year. The variation is explained by a net increase in the Collections categories for operating
activities, mainly in: (i) US$4,967 million higher charges from sales and provision of services; (ii) US$19 million other charges; and
(iii) US$569 million lower charges for other operating activities. The above partially offset by net increase in Payment Categories
mainly by: (i) US$3,488 million higher payments to suppliers for the supply of goods and services; (ii) US$466 million lower charges
for other operating activities; (iii) US$193 million higher income tax payments; and (iv) US$80 million higher other cash outflows.
Cash flows coming from (used in) investment activities were net outgoings totaling US$1,934 million as of December 2021,
which is mainly explained by: (i) US$1,817 million disbursements for the incorporation of plant and equipment properties; (ii)
US$1,194 million incorporation of intangible assets; and (iii) US$1,265 million investments over 90 days. These investment
cash outflows were offset by: (i) US$29 million Interest received; (ii) US$1,248 million from the redemption of investments over
90 days; (iii) US$34 million collections made to related entities net of payments; and (iv) US$1,031 million other cash inflows
of which US$ 1,022 million come from the initial balances of cash and cash equivalents incorporated by the EGPA Companies.
Net cash flows coming from (used in) financing activities were net outgoings of US$595 million as of December 2021, originated
mainly by: (i) US$2,859 million loan payments and obligations to the public; (ii) US$963 million dividend payments;(iii) US$445
million payments to related companies; (iv) US$339 million interest payments; and (v) US$65 million payments of liabilities for
financial leases. This was partially offset by: (i) US$2,727 million obtained financing; (ii) US$1,275 million obtained loans from
related companies; and (iii) US$74 million other cash inflows and outgoings.
Below are the disbursements from the Incorporation of Plant and Equipment Properties and their Depreciation, for the periods
ended on December 31, 2021 and 2020.
PROPERTY, PLANTS AND EQUIPMENT INFORMATION BY COMPANY
Company
Enel Generación Chocon S.A.
Enel Generación Costanera S.A.
Emgesa S.A.E.S.P.
Enel Generación Perú S.A.
Chinango
Enel Distribución Goiás (Celg) (*)
EGP Cachoeira Dourada S.A.
EGP Volta Grande
Enel Generación Fortaleza
Enel Cien S.A.
Enel Distribución Sao Paulo S.A.
(Eletropaulo) (*)
Edesur S.A.
Enel Distribución Perú S.A.
Enel Distribución Rio (Ampla) (*)
Enel Distribución Ceara (Coelce) (*)
Codensa S.A.
Central Dock Sud S.A.
Enel Generación Piura S.A.
Enel X Brasil
Enel Green Power Brasil
Enel Green Power Colombia
Enel Green Power Perú
Enel Green Power Centroamérica
Holding Enel Americas y Sociedades
de Inversión
Total
(millions of US$)
Payments for additions of Property, plant and equipment
% Change
December 2020
-
-
(27.6%)
29
(2.3%)
86
14.3%
42
-
-
67.4%
233
0.0%
1
150.0%
2
(44.4%)
9
0.0%
2
54.3%
186
December 2021
-
21
84
48
4
390
1
5
5
2
287
December 2021
17
57
66
38
3
75
11
-
11
5
151
Depreciation
December 2020
14
42
66
49
4
67
5
-
11
8
159
189
155
212
191
318
15
13
5
763
200
24
33
47
103
127
149
173
385
7
8
3
-
-
-
-
8
83.5%
22.0%
42.3%
10.4%
(17.4%)
114.3%
62.5%
66.7%
-
-
-
-
487.5%
83
58
85
60
124
32
10
(0)
65
2
8
28
4
74
58
83
58
116
28
12
3
-
-
-
-
1
% Change
21.4%
35.7%
0.0%
(22.4%)
(25.0%)
11.9%
120.0%
-
0.0%
(37.5%)
(5.0%)
12.2%
0.0%
2.4%
3.4%
6.9%
14.3%
(16.7%)
(110.0%)
-
-
-
-
339.6%
3,012
1,553
93.9%
993
858
15.7%
(*) Includes intangible assets concessions
Consolidated Financial Statements 607
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Main risks associated with the activity
of enel américas s.A. Group
The Group’s activities are subject to a broad set of governmental regulations, and any changes introduced in them might
affect their activities, economic situation, and operating income.
The Group’s operative subsidiaries are subject to a wide range of tariff regulations and other aspects that govern their
operations in the countries in which they operate. Consequently, the introduction of new laws or regulations, such as the
modification of laws or regulations currently in effect, could impact their activities, economic situation, and operating results.
Such new laws or regulations sometimes modify regulatory aspects that may affect existing entitlements, which, as the case
might be, may adversely affect the group’s future results.
The Group’s activities are subject to wide-ranging environmental regulations that Enel Américas continuously complies with.
Eventual modifications introduced to such regulations could impact its activities, economic situation, and operating income.
Enel Américas and its operative subsidiaries are subject to environmental regulations, which, among other things, require
preparing and submitting Environmental Impact Studies for projects under study, obtaining licenses, permits and other
mandatory authorizations and complying with all the requirements imposed by such licenses, permits and regulations. Just
as with any regulated company, Enel Américas cannot guarantee that:
• Public authorities will approve such environmental impact studies.
• Public opposition will not derive in delays or modifications to any proposed project.
• Laws or regulations will not be modified or interpreted in a manner such as to increase expenses or affect the Group’s
operations, plants, or plans.
The Group’s Commercial activity has been planned to moderate eventual impacts resulting from changes in the hydrologic
conditions.
Enel Américas Group’s operations include hydroelectric generation and, therefore, they depend on the hydrological conditions
that exist at each moment in the broad geographical areas where the Group’s hydroelectric generation facilities are located.
If the hydrological conditions generate droughts or other conditions that may negatively impact hydroelectric generation,
then, the outcome will be adversely affected, reason why Enel has established -as an essential part of its commercial policy - to
refrain from contractually committing 100% of its total capacity. The electric business, in turn, is also affected by atmospheric
conditions such as mean temperatures that condition consumption.
Depending on weather conditions, differences may arise in the margins obtained by the business.
The financial situation and the results of operations may be adversely affected if exposure to interest rate risk, commodities
and currency exchange rates are not effectively managed.
Risk management policy
The companies that make up the Enel Américas Group follow the guidelines of the Risk Management Control System (RMCS)
established at the Holding level (Enel Spa), which sets the guidelines for risk management through the respective standards,
procedures, systems, etc., to be applied at the different levels of the Companies in Enel Américas Group, in the processes of
identification, analysis, evaluation, treatment and communication of risks that the business must continuously face. These
are approved by the Board of Directors of Enel SpA, which houses a Controls and Risks Committee which, in turn, supports
the Board's assessment and decisions regarding internal controls and risk management system, as well as those related to
the approval of periodic financial statements.
To comply with the above, there is a specific Risk Management and Control policy within each Company, reviewed and approved
at the beginning of each year by the Board of Enel Américas, observing and applying local requirements in terms of risk culture.
The company seeks protection for all risks that can affect achieving business objectives. A new risk taxonomy for the entire
Enel Group which considers 6 macro categories and 37 sub-categories.
608
Integrated Annual Report Enel Américas 2021
The Enel Group's risk management system considers three lines of action (defense) to obtain effective and efficient management
of risks and controls. Each of these three "lines" plays a different role within the organization´s broader governance structure
(business and internal control areas, acting as the first line, Risk Control, acting as second line and Internal Audit as the third
line of defense). Each line of defense has an obligation to inform and keep senior management and Directors up to date on risk
management, with Senior Administration being informed by the first and second line of defense and the Board of Directors
in turn by the second and third line of defense.
Within each company in the group, the risk management process is decentralized. Each manager responsible for the operational
process in which the risk originates is also responsible for the treatment and adoption of risk control and mitigation measures.
Interest Rate Risk
Interest rate fluctuations modify the fair value of those assets and liabilities that accrue a fixed rate of interest, as well as the
future flows of assets and liabilities indexed at a variable rate of interest.
The aim of managing the interest rate risk is to reach a debt structure equilibrium that would enable minimizing debt costs
while reducing Income Statement volatility.
Depending on the Group’s estimates and on the objectives of its debt structure, hedging operations are performed by
contracting derivatives to mitigate such risks. The instruments currently used are rate swaps of variable rates to fixed rates.
The comparative structure of the Enel Américas Group's financial debt according to a fixed and/or protected interest rate on
total gross debt, after contracted derivatives, is as follows:
Gross position:
Fixed Interest Rate
12-31-2021
%
31%
12-31-2020
%
38%
Risk control through specific processes and indicators allows to limit potential adverse financial impacts while optimizing
the debt structure with an adequate degree of flexibility. During the pandemic, financial markets have been characterized by
interest rate volatility, which has been offset by risk mitigation actions through derivative financial instruments.
Foreign exchange rate risk
The exchange rate risks correspond, fundamentally, to the following transactions:
− Debt contracted by Group companies denominated in currencies other than those in which their cash flows are indexed.
− Payments to be made in currencies other than those in which their cash flows are indexed, for material purchases
associated to projects and payment of corporate insurance policy premiums, amongst others.
− Income of the Group’s companies directly linked to the evolution of currencies other than those of its own cash flows.
− Cash flows from foreign subsidiaries to parent companies in Chile exposed to foreign exchange rate variations.
To mitigate the exchange rate risk, the hedging policy of the Enel Américas Group regarding exchange rates is based on
cash flows and aims at maintaining a balance between US$-indexed flows, or local currencies if there are any, and the level
of assets and liabilities in such currency. The objective is to minimize the exposure of cash flows to exchange rate variations.
The instruments currently used in compliance with the policy are cross-currency swaps and exchange rate forwards. Similarly,
the policy seeks to refinance debt in each company’s operating currency.
During the first quarter of 2021, the exchange rate risk management continued in the context of compliance with the risk
management policy mentioned above, without difficulty accessing the derivatives market. During the pandemic, financial
markets have been characterized by exchange rate volatility, which has been offset by risk mitigation actions through derivative
financial instruments.
Consolidated Financial Statements 609
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Commodities risk.
The Enel Américas Group might be exposed to the risk of price variations of certain commodities, primarily through:
− Fuel purchases in the process of electric energy generation.
− Purchase and sale of energy carried out in the local markets.
In order to reduce the risk under extreme drought conditions, the Group has designed a commercial policy that defines sale
commitment levels in line with the capacity of its generating centrals during a dry year, by including risk mitigation clauses in
some contracts with free clients. In the case of regulated clients subject to long-term tender processes, indexing polynomials
are determined in order to reduce commodity exposure.
In consideration of the operational conditions faced by electricity generation, drought and commodity price volatility in
international markets, the Company is continuously reviewing the convenience of hedging the impact of these price variations
on its net income.
As of December 31, 2021, there were no operations to buy or sell energy futures for the purpose of hedging the procurement
portfolio.
As of December 31, 2020, there were no operations to buy or sell energy futures for the purpose of hedging the procurement
portfolio
Thanks to the mitigation strategies implemented, the Group was able to minimize the effects of commodity price volatility in
the results of the fourth quarter of 2021.
Liquidity Risk
The Group maintains a liquidity policy that consists of contracting long-term credit commitment facilities and temporary
financial investments for amounts sufficient to support the forecast needs in a given period which, in turn, is a function of the
overall situation and expectations of the debt and capital markets.
Despite the negative working capital existing at the end of 2021, the Company is capable of responding to this situation and
mitigating the risk with the policy and actions described herein.
The above-mentioned projected needs include maturities of net financial debt; namely, after financial derivatives. For additional information
regarding the characteristics and the terms and conditions of such financial debt and financial derivatives see Notes 19 and 22.
As of December 31, 2021, the Enel Américas Group held a liquidity position of MUS$1,396,253 in cash and other equivalents
and MUS$ 1,119,278 in long-term credit lines unconditionally available. As of December 31, 2020, the Enel Américas Group
held a liquidity position of MUS$ 1,506,993 in cash and cash equivalents.
Credit Risk
The Enel Américas Group continually monitors in depth all credit risks as described below:
Commercial accounts receivable:
In relation to the credit risks of accounts receivable from commercial activities, this is a risk that has been historically quite
limited since the short collection term afforded our clients prevents significant individual accumulation. The foregoing is
applied to both our electricity generation and distribution lines of business.
In our electricity generation line of business, in certain countries, when confronted to payment defaults it is possible to cut off
supply, and almost every contract establishes non-payment as a cause for contract termination. To that effect, we continuously
monitor the credit risk and measure the maximum amounts exposed to payment risk, which, as said earlier, are limited.
In the case of our electricity distribution companies, cutting access to electricity, in all cases, is the attribution of our companies
in case of payment default on part of our clients, which is applied in accordance with the regulations in force in each country,
which facilitates the process of evaluation and control of credit risk, which by the way is also limited.
610
Integrated Annual Report Enel Américas 2021
However, the measure of supply cut off due to payment defaults of vulnerable clients was suspended during the period of
the health emergency in the countries in which Enel Américas operates. In Argentina, in accordance with Decree 311/2020
of March 24, 2020, the activities of supply cut offs continue to be suspended. The same in Brazil, pursuant to Resolution 878
issued on March 24, 2020, however, to date suspension activities have been resumed in all 4 distributors, including Rio de
Janeiro, which returned to carrying out suspensions on July 1, 2021, with the end of Law No. 8,769/20, but conforming to the
ANEEL resolution 928 issued on March 26, 2020 that prohibited to suspend the supply to low-income clients until September
30, 2021. In Colombia, pursuant to Decrees 417 and 457, issued on March 17, 2020, and in Peru, according to Decree 35-20,
of April 3, 2020. To date, both countries have resumed and maintain service suspension activities as normal.
Regarding the impact of COVID-19, the results of specific internal analyses did not reveal statistically significant correlations
between the main economic indicators (GDP, unemployment rate, etc.) and solvency.
Assets of a financial nature:
Investments of cash surpluses are made with both national and foreign first-class financial entities with limits set for each entity.
Investment banks selection considers those with Investment Grade rating, considering the three major international rating
agencies (Moody’s, S&P and Fitch).
Investments may be guaranteed by treasury bonds of the countries where the company operates and/or paper issued by first
class banks, giving priority to those offering the best returns (always within the current investment policies).
It should be noted that the downward macroeconomic scenarios due to the COVID-19 effect did not have significant impacts
on the credit quality of the counterparties.
Risk measurement
The Enel Américas Group prepares a Value at Risk measurement for its own debt positions and financial derivatives, with the
purpose of monitoring the risk assumed by the company, thus circumscribing Income Statement volatility.
The portfolio of the positions included for the purposes of calculating the present Value at Risk, is comprised of:
− Financial debt.
− Derivatives for debt hedging
The calculated Value at Risk represents the possible value variation of the above-described positions portfolio within one
quarter with 95% certainty. To that effect we have studied the volatility of the risk variables that affect the value of the position’s
portfolio, which includes:
− The USS Libor rate of interest.
− The various currencies in which our companies operate, the habitual local indices of bank practices.
− The exchange rates of the different currencies implied in the calculation.
The Value at Risk calculation is based on the extrapolation of future market value scenarios (one quarter out) of the risk variables
based on real observations for the same period (quarter) through a 5-year period.
The Value at Risk for one quarter with 95% confidence level, is calculated as the percentile of the most adverse 5% of the
possible quarterly variations.
Considering the scenarios described above, the Risk Value in a quarter, of the above-mentioned positions, is attributable to
MUS$ 559,901.
This value represents the potential increase in the debt and derivatives portfolio, therefore this value at risk is intrinsically
related, among other factors, to the value of the portfolio at the end of each quarter.
Consolidated Financial Statements 611
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Other risks.
As is common practice in bank loans and capital markets operations, a portion of Enel Américas' financial debt is subject to
cross-default provisions. If certain breaches are not remedied, they could result in a cross-default and may eventually make
certain liabilities of Enel Américas enforceable.
In relation to the credit line under New York State law, signed in February 2021 and expiring in February 2024, its advance
payment could take place after the non-payment – after any applicable grace period – of debts of Enel Américas, whose
individual unpaid capital exceeds the equivalent of US$150 million. In addition, this credit line contains provisions according
to which certain events other than non-payment, in Enel Américas, such as bankruptcy, insolvency, adverse enforceable court
judgments for an amount greater than US$300 million, among others, could cause the declaration of payment acceleration.
With respect to Yankee bonds issued in 2016, maturing in 2026, their mandatory prepayment may stem from non-payment –
after any applicable grace period – of any individual Enel Américas debt or any Significant Subsidiary (as contractually defined)
with an amount of principal exceeding US$150 million, or its equivalent in other currencies. While for the specific case of the
Yankee bond issued in 1996, maturing in 2026, the advance payment is triggered only by the default of individual debt for the
amount of US $ 30 million, or its equivalent in other currencies, by the Issuer or Debtor, not referring to its foreign subsidiaries.
Finally, in the case of Enel Américas' local bonds, the advance payment of these debts is triggered only by non-payment of
other debts incurred by the Issuer or Debtor, i.e., Enel Américas, without reference to its foreign subsidiaries. In this case, the
cross default can be triggered where the amount in arrears exceeds 3% of the Total Consolidated Assets, either in an individual
debt or at the aggregate level of debts.
There are no clauses in credit agreements where in which changes in Enel Américas' corporate or debt classification by risk
rating agencies might lead to the obligation to make debt prepayments.
Book value and economic value of assets
In relation to the assets of higher importance, the following should be noted:
Property, plant, and equipment are valued at their acquisition cost, net of the corresponding cumulative depreciation, and
impairment losses. The property, plant, and equipment, net of their residual value, depreciate by distributing the cost of their
different components linearly over the years of the estimated useful life of the asset, which is the period in which the companies
expect to use them. The estimated useful life of the asset is revised periodically.
The goodwill (lower value of investments or commercial funds) generated in the consolidation exercise represents the excess
acquisition cost over the group’s participation in the fair value of assets and liabilities, including contingent liabilities and any
non-controlling shareholdings identifiable in a subsidiary company as of the date of acquisition. Goodwill is not amortized,
but rather, at the closing of each fiscal year it is estimated whether it has been the subject of any depreciation that might
reduce its recoverable value for an amount below its registered net cost, in which case its value is restated accordingly. (See
Note 3.e of the Financial Statements).
Throughout the year and, primarily at its closing date, an evaluation is performed to determine whether there is any indication
that any given asset would have possibly suffered a loss due to impairment. Should there be such an indication, we estimate the
recoverable amount of such asset to determine, as the case might be, the amount of such impairment. If these are identifiable
assets that do not generate independent cash flows, we then estimate the recoverability of the cash generating unit to which
such asset belongs, understanding as such the smallest identifiable group of assets that generates independent cash inflows.
Foreign-currency-denominated assets are shown at their rate of exchange at the closing of the period.
Notes and accounts receivable from related companies are classified according to their short and long-term maturities.
Operations adhere to fair conditions like those that prevail in the market.
In short, assets are valued pursuant to the International Financial Reporting Standards (IFRS), whose criteria are set forth in
Notes No. 2 and 3 of these Enel Américas’ Consolidated Financial Statements.
612
Integrated Annual Report Enel Américas 2021
Significant events
Pursuant to articles 9 and 10, paragraph 2 under Securities Market Law No. 18,045, and as established under General Norm
No. 30 of the Superintendency of Securities and Insurance (SVS, currently the Financial Market Commission, CMF) we hereby
report the following Significant Events:
ENEL AMÉRICAS
• On January 21, 2021, the following was reported as a Significant Event:
The legal period available to Enel Américas S.A.’s (the "Company") dissenting shareholders to exercise the right of withdrawal,
stemming from the merger by incorporation of EGP Américas S.p.A. into Enel Américas S.A. (the "Merger") approved on
December 18, 2020, at the Company's Extraordinary Shareholders Meeting (the"Meeting"), expired on January 17, 2021.
During the referred period, and based on the information available to date, dissident shareholders jointly representing 1,787,514
shares issued by the Company exercised their right of withdrawal, equivalent to 0,002% of the total shares. Pursuant to the
relevant legislation and, specifically, Informative Document No. 32.435 issued by the FMC on November 7, 2017, Enel Américas
shall pay the price of such shares as of the date on which the Merger enters into force, in accordance with the terms and
conditions approved by the Meeting. This will be reported by the Company in a timely manner in a relevant Significant Event.
Consequently, the condition precedent to which the validity of the Merger is subject, regarding the right of withdrawal duly
exercised by Enel Américas’ dissident shareholders pursuant to the Merger not exceeding 10% of voting shares issued by the
Company, has been fulfilled.
• On January 29, 2021, the following was reported as a Significant Event:
Enel Américas (the Company), as a controlling shareholder of the Colombian subsidiaries Emgesa S.A. ESP and Codensa
S.A. ESP, has signed a new investment framework agreement with Grupo Energía de Bogotá SA ESP (GEB), their partner in
these subsidiaries. This new framework investment agreement, which will only become effective when certain conditions
precedent are met and the required corporate and company authorizations are obtained from both partners, seeks to govern
in the future the relations as shareholders between Enel Américas and GEB. As part of the main agreements reached, this
new framework agreement would permit the integration of renewable businesses into their joint investments, establish new
corporate governance rules more in line with the new objectives and opportunities of this new stage, and the parties would
propose conciliation agreements for the arbitral claims that arise between them.
The financial effects of said agreement are not quantifiable as of this date.
• On February 1, 2021, the following was reported as a Significant Event:
In relation to the Merger process approved by Enel Américas’ shareholders at the extraordinary shareholders’ meeting held
on December 18, 2020, has been informed of the following:
The international merger of the Italian company Enel Rinnovabili S.r.l. with the Chilean company EGP Américas S.p.A. took place
today. Representatives of both companies have issued the same declaratory public deed, which they have found to be fully
compliant with the formalities, requirements, and procedures applicable under Chilean and Italian law.
Pursuant to the Merger, EGP Américas S.p.A. has acquired all the assets and liabilities of the Italian company Enel Rinnovabili
S.r.l, including the businesses and non-conventional renewable energy generation assets that Enel Green Power S.p.A. owns
and operates in Central and South America (except Chile).
Similarly, all consents and authorizations granted by the relevant financial banks in Brazil have been obtained.
Now that the Merger has taken place and the consents of the relevant financial banks in Brazil have been obtained, further
conditions precedent of the Merger approved by Enel Américas’ shareholders on December 18, 2020, have been met.
Consolidated Financial Statements 613
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• On March 5, 2021, the following was reported as a Significant Event:
in relation to the Merger by incorporation of EGP Américas SpA (“EGP Américas”) into Enel Américas (the “Merger”) approved
by the Extraordinary Shareholders’ Meeting held on December 18, 2020 (the “Meeting”) that:
On March 4, 2021, the Peruvian National Regulator of Customs and Tax Administration (“SUNAT” in its Spanish acronym) issued
a certificate corresponding to the Merger, the last pending condition precedent. As a result, Enel Américas and EGP Américas
have issued today the same and unique declaratory public deed, pursuant to which they have established compliance with
every condition precedent that the validity of the Merger was subject to (the "Public Deed of Compliance with the Merger
Conditions"). As a result, the Merger will be completed on April 1, 2021, the first day of the month following the date on which
the Public Deed of Compliance with the Merger Conditions was issued, as approved by the Meeting.
On April 1, 2021, Enel Américas will acquire through the Merger, all EGP Américas’ assets and liabilities, including the business
and unconventional renewable energy generation assets that it owns in Central and South America (except Chile), and will
replace it in all its rights and liabilities, incorporating into Enel Américas all EGP Américas’ shareholders and assets which, as
a result of the above, will be fully dissolved, without liquidation.
Similarly, on April 1, 2021, and, together with the Merger, the amendment to Enel Américas’ by-laws approved by the Meeting
will take effect. Said amendment consists of the elimination of the limitations and restrictions set out in the by-laws under
Title XII of Decree Law No. 3.500 issued in 1980 – except for the Investment and Financing Policy – and, particularly that which
restricts a shareholder from concentrating more than 65% of Enel Américas’ voting capital.
Finally, as a result of complying with every condition precedent for the Merger to become valid and issuing the Deed of
Compliance with the Merger Conditions, the share price of the dissenting shareholders who exercised their right to withdraw
from Enel Américas as a result of the approval of the Merger, will be paid to them on March 8, 2021, with the corresponding
adjustments and interests.
• On March 15, 2021, the following was reported as a Significant Event:
On March 15, 2021,duly authorized hereby attach to this Significant Event a copy of a communication released today by Enel
SpA, our parent Company, in which it formally announces the launch of the voluntary public tender offer for the acquisition of
up to 7,608,631,104 shares issued by Enel Américas S.A. (including shares represented by American Depositary Shares or "ADSs")
equivalent to 10% of its current share capital (the "Offer"), as anticipated in the Significant Event issued on December 17, 2020.
In accordance with the attached release, the Offer is conditioned to the completion of the Merger by incorporation of EGP
Américas S.p.A. into Enel Américas S.A. (the "Merger"), which shall take place on April 1, 2021. The Merger was subject to certain
conditions precedent of which all have been met prior to the announcement of the Offer. The compliance with all the Merger
conditions was reported in a Significant Event released on March 5, 2021.
The Offer will start on March 15 and end on April 13 of this year. In the United States of America, the Offer shall expire at 17:00
hrs., New York City time, while in Chile it shall expire at 17:30 hrs., Santiago de Chile time, unless it were to be extended.
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Consolidated Financial Statements 615
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• On March 19, 2021, the following was reported as a Significant Event:
Enel SpA, our parent Company, in which it formally announces the launch of the voluntary public tender offer for the acquisition
of up to 7,608,631,104 shares issued by Enel Américas S.A. (including shares represented by American Depositary Shares or
"ADSs") equivalent to 10% of its current share capital (the "Offer"), as anticipated in the Significant Event issued on December
17, 2020.
In accordance with the attached release, the Offer is conditioned to the completion of the Merger by incorporation of EGP
Américas S.p.A. into Enel Américas S.A. (the "Merger"), which shall take place on April 1, 2021. The Merger was subject to certain
conditions precedent of which all have been met prior to the announcement of the Offer. The compliance with all the Merger
conditions was reported in a Significant Event released on March 5, 2021.
The Offer will start on March 15 and end on April 13 of this year. In the United States of America, the Offer shall expire at 17:00
hrs., New York City time, while in Chile it shall expire at 17:30 hrs., Santiago de Chile time, unless it were to be extended.
Further information can be found in the communication, as attached, and more details on the Offer can be found on the
Company´s website at www.enelamericas.com.
• On March 26, 2021, the following was reported as a Significant Event:
in relation with the Public Offer for the Acquisition of Shares that Enel SpA has launched for up to 7,608,631,104 shares issued
by Enel Américas S.A. (including a share offer represented by American Depositary Shares "ADSs", the latter known as the
"Tender Offer") that under the US Securities Exchange Act of 1934 and in particular, under Rule 14D-9, a collective statement
on the Tender Offer is required from the Company's Board of Directors and that, on this date, the Company's Board of Directors
has filed such collective statement in the document called Schedule 14D-9 which has been registered with the Securities and
Exchange Commission (SEC).
I also hereby inform you that a copy of the aforementioned Schedule 14D-9 and its translation into Spanish language have
been made available to the public and the shareholders on the Company´s website www.enelamericas.com , together with
the prospectus and other documents related to the Company's Public Offer for the Acquisition of Shares.
• On April 1, 2021, the following was reported as a Significant Event:
On April 1, 2021, all the effects of the Merger have taken place and, therefore, Enel Américas has acquired, through the Merger,
all EGP Américas’ assets and liabilities, including the business and non-conventional renewable energy generation assets that
it owns in Central and South America (except Chile), and begins to replace it in all its rights and obligations, incorporating
into Enel Américas all EGP Américas’ shareholders and assets and, as a result, the latter is fully and legally dissolved, without
the necessity to settle.
Consequently, as of April 1, 2021, the following principal companies are incorporated as new Enel Américas’ subsidiaries: Enel
Green Power Brasil Participacoes Ltda., Enel Green Power Costa Rica S.A., Enel Green Power Colombia S.A.S ESP, Enel Green
Power Guatemala S.A., Enel Green Power Panama S.R.L., Enel Green Power Perú S.A.C., Enel Green Power Argentina S.A., Energía
y Servicios South América SpA and ESSA2 SpA.
Finally, on the same date, April 1, 2021, all amendments to the Enel Américas’ bylaws approved by the Meeting, consisting of the
respective capital increase and the elimination of the limitations and restrictions established in the bylaws by the application
of Title XII of Decree Law No. 3,500 of 1980 – with the sole exception of the Investment and Financing Policy that remains
in place – and, in particular, the one that establishes that a shareholder and his or her related persons are not permitted to
concentrate more than 65% of Enel Américas’ voting capital.
• On April 16, 2021, the following was reported as a Significant Event:
At the communication issued On April 22, 2021, by Enel SpA, our parent company, reports the final results of the voluntary
public offer for the acquisition of shares and American Depositary Shares ("ADS") of Enel Américas for up to a maximum of
10% of its share capital at the time of the launch thereof (the "Offer").
As indicated by Enel SpA in the attached statement, and based on the final calculations, a total of 20,194,895,308 shares
(including 1,872,063,500 shares represented by 37,441,270 ADSs) were validly tendered in the Offer, resulting in a prorated
factor of approximately 37.7%.
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Integrated Annual Report Enel Américas 2021
Following the completion of the Merger of Enel Américas S.A. with EGP Américas SpA, Enel SpA owned 75.18% of Enel Américas´
share capital, and now, after the purchase of the shares and ADSs through the Offer, Enel holds approximately 82.3% of Enel
Américas’ share capital.
• On April 29, 2021, the following was reported as a Significant Event:
i. The Ordinary Shareholders’ Meeting of Enel Américas S.A. held today, April 29, 2021, elected the Company’s new Board of
Directors for a three-year term. The Board members are as follows:
• Mr. Francisco de Borja Acha Besga
• Mr. José Antonio Vargas Lleras
• Mrs. Giulia Genuardi
• Mrs. Francesca Gostinelli
• Mr. Hernán Somerville Senn (Independent proposed by the Controller)
• Mr. Patricio Gómez Sabaini (Independent proposed by the Controller)
• Mr. Domingo Cruzat Amunátegui (Independent proposed by the Controller)
ii. At an ordinary session of Enel Américas S.A.’s Board of Directors, also held today and following the aforementioned meeting,
Mr. Francisco de Borja Acha Besga was elected as the Chairman of the Board and Mr. Domingo Valdés Prieto as the Secretary
of the Board.
iii. Furthermore, at the aforementioned session of the Board of Directors, and in compliance with Law 18.046 on Public Limited
Companies and the Sarbanes-Oxley Act, the members of the Board appointed Messrs. Hernán Somerville Senn, Patricio
Gómez Sabaini, and Domingo Cruzat Amunátegui as members of the Directors Committee. In accordance with the provisions
of Circular Letter No. 1.956 issued by the Financial Market Commission, we confirm that all the members of the Directors
Committee are independent directors. The Company’s Board of Directors has appointed Mr. Hernán Somerville Senn as the
Financial Expert of Enel Américas S.A.’s Directors Committee.
iv. At the same time, at an ordinary session held today and following the aforementioned Board session, the Company’s Directors
Committee has appointed Mr. Hernán Somerville Senn as the Chairman of the Directors Committee and Mr. Domingo Valdés
Prieto as the Secretary.
• On April 29, 2021, the following was reported as a Significant Event:
The Ordinary Shareholders’ Meeting of Enel Américas S.A. (the “Company”) held on April 29, 2021, has agreed to distribute
the minimum mandatory dividend (from which the interim dividend paid in January 2021 has been deducted) as well as an
additional dividend that amounts to US$412,598,667 equivalent to US$ 0.00384600197490528 per share.
The distribution and payment of the final dividend, No. 103 shall be for a total of US$ 339,606,949, or US$0.00316561613260267
per share, after deducting the interim dividend already paid. The scheduled payment date is May 28, 2021. Shareholders of
record in the Register of Shareholders up to May 22, 2021, will be entitled to receive these dividends.
The aforementioned dividend will be paid in Chilean pesos, the legal currency, converted according to the Observed Dollar
exchange rate published in the Official Gazette on May 20, 2021.
• On June 22, 2021, the following was reported as a Significant Event:
On June 22, 2021, Emgesa S.A. ESP and Codensa S.A. ESP, the Colombian subsidiaries of Enel Américas, as part of the new
investment framework agreement that Enel Américas signed with Grupo Energía Bogotá SA ESP (GEB), its partner in said
subsidiaries, and as informed in a Significant Event issued on January 29, 2021, called yesterday, June 21, a meeting of their
respective Boards of Directors (Boards of Directors). In the corresponding sessions, the respective Boards of Directors will
establish the calls for the General Shareholders´ Meetings that will discuss, among other matters, the approval of a quadruple
merger by absorption, through which Emgesa S.A. ESP will become the “Absorbing Company” while Codensa S.A. ESP, Enel
Green Power Colombia S.A.S., and ESSA2 S.p.A., all subsidiaries of Enel Américas, will become the “Absorbed Companies”.
The aforementioned merger will involve the integration of the Absorbed Companies into the Absorbing Company through
the transfer of the assets of the former for the benefit of the latter, and the dissolution without liquidation of the Absorbed
Companies. This way, the Absorbing Company shall be responsible, without any interruption, for all the liabilities of the Absorbed
Companies, including, but not limited to, their labor liabilities.
Consolidated Financial Statements 617
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Such merger shall be conditioned on the compliance of the following conditions, legal and contractual prerequisites: (i)
Approval of the Merger by the General Shareholders' Meetings of the involved companies in accordance with their respective
bylaws and the applicable laws of the respective jurisdictions; (ii) The approval on part of the holders of the ordinary bonds
issued by Emgesa and Codensa under the conditions required by Colombian regulations and the respective issuance and
placement prospects; and (iii) The authorization of the Colombian Regulator of Companies of Colombia (Superintendencia
de Sociedades de Colombia).
The financial effects of the merger will be quantifiable once the corresponding shareholders' meetings of the participating
companies have approved an exchange equation and the terms of the respective merger agreement.
• On June 29, 2021, the following was reported as a Significant Event:
On June 29, 2021, the Boards of Directors of Emgesa S.A. ESP, Codensa S.A. ESP, and Enel Green Power Colombia S.A.S., the
Colombian subsidiaries of Enel Américas, as announced in the Significant Event issued on June 22, 2021, agreed to hold their
respective General Shareholders' Meetings on July 27, 2021, to consider the merger commitment between Emgesa S.A. ESP
(absorbing company) and Codensa S.A. ESP, Enel Green Power Colombia S.A.S. ESP, and ESSA2 SpA (absorbed companies).
Pursuant to the agreed merger commitment, the company resulting from the reorganization process will have the following
shareholding distribution: (i) Enel Américas S.A.: 57.345%; ii) Grupo Energía Bogotá S.A. ESP: 42.515%; and iii) Other minority
shareholders: 0.140%.
• On July 8, 2021, the following was reported as a Significant Event:
As part of the agreements reached with Grupo Energía Bogotá S.A. ESP, on July 8, 2021 the arbitration tribunal of Grupo
Energía Bogotá held a hearing in which the arbitrators accepted the conciliation agreement presented by the parties, thus
terminating the differences between Grupo Energía Bogotá and the Company that were the subject matter under discussion
in said litigation.
• On July 27, 2021, the following was reported as a Significant Event:
On July 27, 2021, the subsidiaries of Enel Américas, Emgesa S.A. ESP, Codensa S.A. ESP, Enel Green Power Colombia S.A.S., and
ESSA2 SpA, held their respective General Shareholders' Meetings in which, among other issues, they approved the merger
commitment between the companies Emgesa S.A. ESP (Absorbing Company), Codensa S.A. ESP, Enel Green Power Colombia
S.A.S. ESP, and ESSA2 SpA (Absorbed Companies).
As a result of the terms of trade and the agreements between Enel Américas S.A. and Grupo Energía Bogotá S.A. ESP (GEB),
the final shareholding composition of the Absorbing Company will be as follows: i) Enel Américas S.A. 57.345%; ii) Grupo Energía
Bogotá S.A. ESP 42.515%, and iii) other minority shareholders 0.140%.
The merger must subsequently be approved by the Bondholders’ Meeting of Emgesa S.A. ESP and Codensa S.A. ESP, and
then undergo a prior authorization procedure by the Superintendency of Companies of Colombia so it may subsequently
come into effect.
• On August 26, 2021, the following was reported as a Significant Event:
On August 26, 2021 our Brazilian subsidiary Eletropaulo Metropolitana Eletricidade de São Paulo S.A. ("Enel Distribuição São
Paulo") published a Significant Event in the Republic of Brazil, which is attached, in which it announced that its Board of Directors
approved the withdrawal of its sponsorship of the Plano de Suplementação de Aposentadorias e Pensão – PSAP/Eletropaulo,
a pension fund for employees and former employees currently managed by Fundação Cesp.
The financial effects of this action are not quantifiable as of this date.
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• On November 26, 2021, the following was reported as a Significant Event:
The Company's Board of Directors, in a meeting held November 25, 2021 agreed to distribute an interim dividend of
US$0.00086986528797556 per share. Said amount corresponds to 15% of the net income of the Company as of September
30, 2021, based on the financial statements of the Company as of said date.
The aforementioned dividend will be paid in Chilean pesos, the legal currency, and converted according to the Observed Dollar
exchange rate published in the Official Gazette on January 24, 2022.
This dividend will be paid on January 28, 2022, to all shareholders of record at midnight on the fifth business day prior to the
indicated date.
The Company is evaluating to grant those shareholders who expressly request it, the possibility of collecting dividends in US
dollars. The market and shareholders will be informed of this possibility in due course.
The publication of the dividend announcement shall be made in the newspaper El Mercurio de Santiago, on January 5, 2022.
• On November 26, 2021, the following was reported as a Significant Event:
The Company's Board of Directors, in a meeting held November 25, 2021, approved Enel Américas' 2022-24 Strategic Plan.
The macro elements of the aforementioned Strategic Plan foresee an accumulated EBITDA of approximately between US$
14.5 and US$ 15.8 billion and an accumulated CAPEX of approximately US$ 8.9 billion for the 2022–2024 triennium.
Given the high volatility and variations in the exchange rates of the markets in which the Company maintains investments and,
given that the contents of the aforementioned Strategic Plan obey and are based on projections of hypotheses that may or
may not be verified in the future, its effects are not determinable at this date.
Similarly, we hereby inform that on November 30, a presentation will be made regarding the figures indicated above, which
all local and foreign investors, shareholders, and the market in general will be able to access. Details on how to connect, the
conference schedule and a copy of the relevant presentations will be available to all the interested parties in due course on
the Company's website: www.enelamericas.com.
Consolidated Financial Statements 619
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ELETROPAULO METROPOLITANA ELETRICIDADE DE SÃO PAULO S.A.
CNPJ Nº 61.695.227/0001-93
NIRE: 35300050274
FATO RELEVANTE
A ELETROPAULO METROPOLITANA ELETRICIDADE DE SÃO PAULO S.A. (“Enel SP” ou “Companhia”), em atendimento ao
disposto no artigo 157, parágrafo 4º, da Lei nº 6.404, de 15 de dezembro de 1976, conforme alterada (“Lei das S.A.”) e à
Instrução CVM nº 358, de 3 de janeiro de 2002, vem informar aos seus acionistas e ao mercado em geral que, no dia 26 de
agosto de 2021, o Conselho de Administração da Companhia aprovou a retirada de patrocínio do Plano de Suplementação
de Aposentadorias e Pensão PSAP/Eletropaulo, inscrito no Cadastro Nacional de Planos de Benefícios – CNPB sob nº
1982.0022-47 atualmente administrado pela Fundação CESP (Vivest).
Não é possível quantificar os impactos financeiros da referida retirada de patrocínio nesta data.
Barueri, 26 de agosto 2021.
ELETROPAULO METROPOLITANA ELETRICIDADE DE SÃO PAULO S.A.
Raffaele Enrico Grandi
Diretor de Administração, Finanças, Controle e Relações com Investidores
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Glossary
AFP
Pension Fund Manager. Legal entity that manages a Chilean pension fund.
ANEEL
Brazilian state agency for electric power.
BNDES
The National Bank for Economic and Social Development is the main development agency in Brazil, with a focus on
sustainable social and environmental development.
Chilean Stock Exchanges
The two main stock exchanges in Chile: the Santiago Stock Exchange and the Chilean Electronic Stock Exchange.
Cachoeira Dourada
Enel Green Power Cachoeira Dourada S.A. Brazilian generating company owned by Enel Brasil. Formerly, its corporate
name was Centrais Elétricas Cachoeira Dourada S.A.
CAMMESA
Compañía Administradora del Mercado Mayorista Eléctrico S.A. Argentine autonomous entity in charge of the operation
of the Wholesale Electricity Market, or MEM. The shareholders of CAMMESA are generation, distribution and transmission
companies, large users, and the Ministry of Energy.
CCEE
Electricity marketing chamber or clearing house in Brazil.
Cien
Enel CIEN S.A. Brazilian transmission company, wholly owned by Enel Brasil, our subsidiary. Formerly, its corporate name
was Companhia de Interconexão Energética S.A.
CND
Colombian National Dispatch Center, in charge of coordinating the efficient operation and dispatch of the generation
units to meet demand.
CMF (FMC in English)
Financial Market Commission for the Chilean Financial Market, a government entity that oversees corporations, banks,
securities, and the insurance business. It replaces the former Superintendency of Securities and Insurance.
Codensa
Colombian distribution company that operates mainly in Bogotá and is controlled by us.
COES
Economic Operation Committee of the System. Peruvian entity in charge of coordinating the efficient operation and
dispatch of the generation units to meet demand.
Costanera
Enel Generación Costanera S.A. Argentine generation company, stock corporation controlled by us. Its former corporate
name was Endesa Costanera.
CREG
Energy and Gas Regulation Commission - Colombian Commission in charge of the regulation of energy and gas.
Consolidated Financial Statements 621
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CTM
Compañía de Transmisión del Mercosur S.A. Argentine transmission company and subsidiary of Enel Brasil.
DCV (CSD in English)
Central Securities Depository of Chile.
Dock Sud
Central Dock Sud S.A. Argentine generation company and our subsidiary.
Edesur
Empresa Distribuidora del Sur S.A. Argentine distribution company, with a concession area in the southern area of the
greater metropolitan area of Buenos Aires; our subsidiary.
El Chocón
Enel Generación El Chocón S.A. Argentine generation company, owner of two hydroelectric plants, El Chocón and
Arroyito, both located on the Limay River, Argentina, and our subsidiary. Formerly, its corporate name was Hidroeléctrica
El Chocón S.A.
Emgesa
Colombian generation company controlled by us.
Enel
Italian energy company with multinational operations in the energy and gas markets. As of December 31, 2020, it owned
61.5% of Enel Américas’ share capital. It is our Parent Company.
Enel Américas
Stock limited liability corporation incorporated pursuant to the laws of the Republic of Chile and headquartered in Chile.
It has subsidiaries dedicated mainly to the generation, transmission, and distribution of electricity in Argentina, Brazil,
Colombia, and Peru. It is controlled by Enel. Registrant of this Report. It was known before as Enersis S.A.
Enel Brasil
Brazilian holding company and our subsidiary. Formerly, its corporate name was Endesa Brasil S.A.
Enel Distribución Ceará
Brazilian distribution stock corporation, operating in the state of Ceará. Coelce is controlled by Enel Brasil, our subsidiary.
Its current corporate name is Enel Distribución Ceará.
Enel Distribución Goiás
Brazilian distribution company operating a concession in the state of Goiás, owned by Enel Brasil, our subsidiary. Its
current commercial name is Enel Distribución Goiás
Enel Distribución Perú
Peruvian distribution stock corporation with a concession area in the northern sector of Lima, and our subsidiary. Formerly,
its corporate name was Empresa de Distribución Eléctrica de Lima Norte S.A. or Edelnor.
Enel Distribución Rio
Ampla Energia e Serviços S.A. Brazilian distribution stock corporation operating in Rio de Janeiro, owned by Enel Brasil,
and our subsidiary. Its current commercial name is Enel Distribución Rio.
Enel Generación Perú
Peruvian generation stock corporation and our subsidiary. Formerly, its corporate name was Edegel S.A.A.
Enel Generación Piura
Peruvian generation stock corporation and our subsidiary. Formerly, its corporate name was Empresa Eléctrica de Piura
S.A. or EEPSA.
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Integrated Annual Report Enel Américas 2021
Enel Trading Argentina
Energy trading company, with operations in Argentina and our subsidiary. Formerly, its corporate name was Central
Comercializadora de Energía S.A. or CEMSA.
Enel X
Enel's Dvision, which seeks to meet the needs of customers through four business lines: e-City, e-Home, e-Industries,
e-Mobility.
ENRE
National Electricity Regulatory Entity. Argentina's national regulatory authority for the energy sector.
NCRE
Non-Conventional Renewable Energies. Energy sources that are continuously recharged by natural processes, such as
wind, biomass, mini hydroelectric, geothermal, solar or tidal energy.
FONINVEMEM
Fund for Necessary Investments to Increase the Supply of Electric Power in the Wholesale Electricity Market in Argentina
- a fund created to increase the supply of electricity in the MEM.
Fortaleza
Central Generadora Termoelétrica Fortaleza S.A. Brazilian generation company operating in the state of Ceará. Enel Brasil,
our subsidiary, has full ownership of Fortaleza. Currently, its commercial name is Enel Generación Fortaleza.
LNG
Liquefied Natural Gas
OSM
Ordinary Shareholders' Meeting
MEM
Wholesale Electricity Market - Wholesale Electricity Market of Argentina, Colombia and Peru.
MINEM
Ministry of Energy and Mines.
OEF
Firm Energy Obligation Commitment of firm energy of Colombian generators to guarantee energy in the long term.
PLD (PDS in English)
Price of difference settlement. It is the price assigned to the purchase and sale of energy in the Brazilian spot market.
SEE
The Argentine Ministry of Energy and Mining manages the electricity industry through the Secretariat of Electric Energy.
SEIN
National Interconnected Electric System of Peru.
SENACE
National Environmental Certification Service for Sustainable Investments is an autonomous Peruvian environmental
certification service for sustainable investments that depends on the Peruvian Ministry of the Environment.
SIN
National Interconnected System. This type of system exists both in Argentina and in Brazil and Colombia.
Consolidated Financial Statements 623
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TESA
Transportadora de Energía S.A. Transmission company with operations in Argentina and a subsidiary of Enel Brasil.
VAD (AVD in English)
Added Value of Distribution. Its determination is based on an efficient model company scheme and the typical area concept.
XM
Expertos de Mercado S.A. E.S.P. A subsidiary of Interconexión Eléctrica S.A. (ISA), a Colombian company that provides
real-time management services in the electricity, financial and transport sectors.
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Consolidated Financial Statements 625
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
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Integrated Annual Report Enel Américas 2021
Statement of Responsibility
Declaración de Responsabilidad
Declaración de Responsabilidad
The Directors and the General Manger of Enel Americas S.A., signatories of this Statement, are responsible under oath for
Los directores de Enel Américas S.A. y el Gerente General, firmantes de esta declaración, se hacen responsables bajo juramento
Los directores de Enel Américas S.A. y el Gerente General, firmantes de esta declaración, se hacen responsables bajo juramento
the veracity of the information provided in this Integrated Annual Report, in compliance with General Norm No. 30, issued by
de la veracidad de toda la información proporcionada en la presente Memoria Anual Integrada, en cumplimiento de la Norma
de la veracidad de toda la información proporcionada en la presente Memoria Anual Integrada, en cumplimiento de la Norma
the Financial Market Commission.
de Carácter General N°30, emitida por la Comisión para el Mercado Financiero:
de Carácter General N°30, emitida por la Comisión para el Mercado Financiero:
Borja Acha
Borja Acha
Borja Acha
Chairman
Presidente
Presidente
José Antonio Vargas
José Antonio Vargas
José Antonio Vargas
Director
Director
Director
Hernán Somerville
Hernán Somerville
Hernán Somerville
Director
Director
Director
Patricio Gómez
Patricio Gómez
Patricio Gómez
Director
Director
Director
Domingo Cruzat Amuntagui
Domingo Cruzat Amuntagui
Domingo Cruzat Amuntagui
Director
Director
Director
Firmado por FRANCESCA GOSTINELLI
Firmado por FRANCESCA GOSTINELLI
Francesca Gostinelli
Francesca Gostinelli
Director
Directora
Directora
Firmado por GIULIA GENUARDI
Firmado por GIULIA GENUARDI
Giulia Genuardi
Giulia Genuardi
Director
Directora
Directora
Maurizio Bezzeccheri
Maurizio Bezzeccheri
Maurizio Bezzeccheri
Chief Executive Officer
Gerente General
Gerente General
362
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Memoria Anual Integrada Enel Américas 2021
Memoria Anual Integrada Enel Américas 2021
Consolidated Financial Statements 627
Enel Américas at a glanceGovernanceEnel Américas Group´s BusinessCorporate Governance Report2021 ManagementStrategy and Risk ManagementOther Corporate Regulatory InformationMetricsAnnexes
Company Information
Markets in which it trades
Santiago Stock Exchange
https://www.bolsadesantiago.com
ENELAM
New York Stock Exchange (NYSE)
https://www.nyse.com/index
ENIA
Name or corporate name
Address
Type of company
Rut
Address
Zip code
Phones
PO Box
Registration of Securities Registry
External auditors
Subscribed and paid-up capital
Website
Email
Investor Relations Phone
Investor Relations Contact
Mnemonic in Chilean Stock Exchanges
Mnemonic on the New York Stock Exchange
(New York Stock Exchange: “NYSE”)
Custodian Bank ADS Program
Depositary bank ADS program
National risk rating agencies
Internnational risk rating agencies
Enel Américas S.A.
Santiago de Chile, can also establish agencies or branches in other
parts of the country or abroad.
Publicly traded company
94.271.000-3
Santa Rosa Nº76, Santiago, Chile
833-009 Santiago de Chile
(56-2) 2353 4400 - (56-2)2 378 4400
1557, Santiago
Nº175
KPMG Auditores Consultores
US$15,799,499 thousand
www.enelAméricas .com
comunicacion.enelAméricas @enel.com
(56-2) 2353 4682
Rafael de la Haza (rafaeldelahazacasarrubio@enel.com)
ir.enelAméricas @enel.com
ENELAM
ENIA
Banco Santander Chile
Citibank N.A.
Feller Rate Clasificadora de Riesgo Limitada
Fitch Chile Clasificadora de Riesgo Limitada
Moody’s Investor Services
Standard & Poor’s International Rating Services
Fitch Ratings
Enel Américas S.A. was initially incorporated under the corporate name of Compañía Metropolitana de Distribución Eléctrica
S.A.. As of December 1, 2016, it has been called Enel Américas S.A. As of December 31, 2021, its share capital totaled
US$15,799,499 thousand, represented by 107,281,698,511 shares listed on stock exchanges in Chile and the United States (New
York) in the form of American Depositary Shares (ADS). Its core business is to explore, develop, operate, generate, distribute,
transmit, transform and/or sell energy in any of its forms or nature, directly or through other companies. It can also develop
activities in telecommunications and provide engineering advice at home and abroad, in addition to investing and managing
its investment in subsidiaries and associates. The Company controls and manages a group of companies operating in the
electricity markets of seven countries in Latin America (Argentina, Brazil, Colombia, Costa Rica, Guatemala, Panama, and Peru),
with total assets of US$34,958,938 thousand as of December 31, 2021. That year the net result attributable to the parent
company reached US$740,859 thousand and the operating result stood at US$2,664,046 thousand. At the end of that period,
it directly employed 16,461 people through its subsidiaries present in South America.
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Integrated Annual Report Enel Américas 2021