Enel X and Santander: a partnership that delivers results

In 2019, Spanish bank Santander was looking for a solution to monitor and streamline the management of electricity bills from 22 utility companies across its 500 branches in Argentina. It picked Enel X as its supplier for a Utility Bill Management (UBM) service, along with a specialized consultancy to suggest ways to save on energy bills and purchase “green energy” from external providers. As Santander discovered the advantages of UBM, it extended the scope of the agreement and the number of branches to manage its water and gas consumptions in early 2020. By July 2021, Santander had saved a total of around €300 million on energy costs.

Santander strengthened its relationship with Enel X in mid-2021 when it won a tender for major medium-voltage work (a power increase of 583 kW) in one of the bank's branches in Antequera. A few months later, Santander asked Enel X to install 18 lithium batteries - replacing a diesel generator set - in 12 of its branches. These hybrid grid-plus-renewables systems allow the bank to store energy from renewable sources, helping Santander with its goal of mitigating the effects of climate change. At the same time, Santander eliminated the fuel and maintenance costs of diesel generators, and secured a backup system in the event of power outages.

These successful collaborations created a relationship of mutual trust, leading to the decision to create a global partnership. The two groups supply and finance solar facilities, lithium batteries and energy efficiency solutions for SMEs and corporations. The partnership calls for Enel X to design customized turnkey solutions for clients, while Santander will provide them with tailored financing, thereby accompanying customers on their path to cutting energy costs and achieving sustainability by using renewable energy. Enel X and Santander’s partnership has already resulted in several projects. Here’s a look.