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Renewable Choice

Renewable Choice

We want to encourage more active involvement by local communities in the development of clean energy and in the decarbonization process. And in order to promote the creation of shared value, we are also launching investment initiatives that are open to all citizens.

Find out about our projects

Drivers of the transition

Global warming, with climate change and the extreme weather events it causes, is presenting us with the challenge of rapidly decarbonizing the energy sector – a challenge that involves everyone, even individual citizens with their own choices about what they consume and how they live their lives.

This is the energy transition: building a future with zero greenhouse gas emissions, thanks to the use of green and sustainable technologies for the production of energy from renewable sources, while simultaneously promoting consumption efficiency, electrification and the circular economy.

This is a true paradigm shift from both an energy and a social perspective. The new model is that of Creating Shared Value (CSV), whereby the value generated for companies is always accompanied by a tangible benefit for society and local communities.

If the energy transition is to come to fruition, we must create opportunities for greater awareness for all those involved, starting with the general public: in addition to being the main beneficiaries of the advantages derived from the development of renewable energy sources, they can also become actors in the process. How? By actively and tangibly participating in the development of clean energy through a process called lending crowdfunding.

How it works

The crowdfunding initiative launched by Enel Green Power is a way to finance the construction of renewable facilities, whereby the residents of the municipality in which the facility is to be built will have the opportunity to participate in the initiative with the guarantee of a future financial return. In fact, in the first phase the initiative will only be open to residents of the municipality in question, before being extended to other interested parties at a later date.

This is remunerative financing through which those who participate will be able to earn a lasting financial return resulting from the construction of new renewable facilities. The objective is to share the benefits deriving from the existence of a renewable facility in their area and, more generally, in Italy. The Enel Green Power crowdfunding initiative delivers a fixed return based on the initial amount that the participant decides to invest in supporting the construction of the renewable energy facility, in addition to the repayment of the initial investment.

Participants are free to choose the amount they wish to invest, depending on their preferences, up to a maximum amount for each investor, thus giving everyone who is interested the opportunity to participate in the initiative. Residents of the municipality in which the facility is located will be entitled to (a) an investment exclusivity period and (b) more favorable returns.

Through Renewable Choice, the renewable facility creates the foundation for the development of new opportunities to foster and generate shared value for individuals and communities. Those who decide to personally support the fight against climate change and the decarbonization of the energy system will receive a financial return, thanks to an innovative approach that facilitates the financing of large-scale renewable facilities through mechanisms that are collective and inclusive as well as reliable and sustainable.

In this context, a renewable energy plant is an enabling factor in increasing awareness of the value of sustainability and the possibility for individuals to play an active role in the revolution towards a more sustainable future.

Energy solidarity

Enel Green Power has also come up with another support and shared development opportunity for individual communities: the initiative is called "Energy Solidarity", the purpose of which is to effectively allocate part of the renewable energy produced by the facility to families who are experiencing hardship, be it temporary or longer term.

In particular, the "Energy Solidarity" initiative is designed to cover, in whole or in part and within certain time limits, the electricity costs incurred by low-income residents of the municipalities involved in the initiative.

This Enel Green Power initiative will be available to those municipalities in which renewable facilities are due to be built. Residents who may benefit from the initiative will be identified through the active contribution of the local council – both in terms of identifying potentially eligible residents, and checking whether or not they meet the eligibility/admission criteria – through organizing dedicated public calls for applications, securing the support, for example, of a local bank or credit institution for the provision of subsidies, and ensuring a fair and transparent process for the allocation of the benefits.

This initiative is intended to support those families suffering hardship, by aiming to provide assistance to vulnerable members of the community residing in those municipalities where renewable facilities are built, with a view to ensuring the energy transition process leaves nobody behind.

If you're a local council interested in finding out more about the initiative, contact us by writing to infosviluppoegp@enel.com

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