Flavio Cattaneo explained that the network’s aerial infrastructure makes control difficult to avoid blackouts
The CEO of the Enel group, Flavio Cattaneo, participated in the “Enel Capital Markets Day 2026”, an event that took place in Milan, Italy, this Monday (23). In his speech at the press conference, the CEO said that only “Jesus Christ could solve it” referring to the recurring cases of blackouts in São Paulo.
The event seeks to present the company’s new ideas and proposals to the market for the coming years. Cattaneo took the opportunity to explain the electrical infrastructure of the city of São Paulo. According to him, São Paulo has the network – almost in its majority – aerial, therefore exposed to rain and trees, which makes control to avoid blackouts difficult.
Cattaneo, however, showed himself willing to open a discussion about solving the problem with possible grounding of cables. Which may take longer than expected, as it involves releasing money for investment.
The CEO concluded the matter by saying that recovered the company’s release and approval service by 50%stating that a structural resolution is needed for São Paulo.
Other investments and strategies
The state group intends invest around 53 billion euros (63 billion dollars) from 2026 to 2028. Half of the amount will be applied to electrical networks and approximately 38% to renewable energy.
In its previous three-year strategy, Enel had planned to invest capital of 43 billion euroswith 60% focused on the regulated electricity grid business and 28% on green energy projects.
Enel is interested in acquiring renewable energy assets in the US, Cattaneo said, adding that the development of artificial intelligence (AI) expected to increase energy demand in North America. “We plan to concentrate our mergers and acquisitions on existing assets,” he said, thinking about plants already in operation or approved.
The company also expects a negative impact non-liquid profit of the group, forecast at an average of 300 to 400 million euros per year in the period from 2026 to 2028. Earnings per share are expected to increase to 0.80-0.82 euros in 2028, compared to the 0.69 euros forecast for 2025.
