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Itaú Unibanco

Enel X's largest distributed solar generation project in the world: Itaú Unibanco

Enel X has signed a sustainable energy agreement that will serve 80% of the credit institution's units in 14 locations in Brazil.

In August 2022, Enel X and Itaú Unibanco signed a ten-year agreement to supply approximately 80% of the Brazilian bank’s branches with renewable energy. The distributed solar power generation contract is Enel X's largest in the world and involves the installation of 46 photovoltaic systems with a total capacity of 54.7 MWp to serve 1,557 branches in 14 locations in Brazil. In this way, Enel X will facilitate Itaú’s energy transition in support of its commitment to become a zero-emissions company by 2050.

The client

Itaú Unibanco is one of the largest private banks in Latin America, present in 8 countries besides Brazil, with 90,000 employees and 60 million customers. It operates mainly in Brazil, but its international presence allows it to provide high quality services to both local customers and Brazilians abroad.

The agreement’s benefits

The challenge for Enel X

On the one hand, Itaú Unibanco wanted to improve its economic and energy efficiency with an intelligent management of consumption that would guarantee greater cost predictability and avoid tariff fluctuations. On the other, it wanted to pursue its commitment to sustainability, reducing emissions of carbon dioxide to zero by 2050.

Enel X has installed 46 distributed generation photovoltaic systems for a total of 75,000 solar panels with a capacity of 54.7 MWp that will come into operation within 12 months starting from August 2022. In addition, Enel X will carry out consultancy and infrastructural works in over 450 Itaú branches, with a focus on cost reduction and the intelligent management and purchase of energy. Furthermore, the implementation of the Utility Bill Management (UBM) platform will allow them to:

  • Digitalize the management of company payments;
  • Organize information on service provider accounts;
  • Monitor the energy and water consumption of 1,557 business units;
  • Monitor sustainability indicators.
Enel X's distributed energy system will allow Itaú to produce energy autonomously with significant economic savings on bills and more efficient management of the company's accounts thanks to the Utility Bill Management system. Furthermore, the use of sustainable energy will avoid the emission of 10,000 metric tons of CO₂ per year, thus following the road towards carbon neutrality to be achieved by 2050.
Enel X’s challenge