Our investments in the generation business will reach US$1.5 billion in the period 2024-2026. These investments will be made with a more selective approach, seeking to maximize profits and reduce the Company's risk. 53% of the investments will be made in Colombia while 42% will be in Brazil, and 98% of the total will be focused on renewable energies. These investments will add 1.5 GW to the installed capacity, which will lead to an increase in production of 12% in the next 3 years.

Enel Américas has further accelerated its decarbonization roadmap with the sale of thermal power plants in line with the path towards 1.5°C promoted by the Paris Agreement.

The process of defining Enel Américas' strategies as part of the Enel Group is accompanied by a precise analysis of the risks and opportunities associated with these strategies, including aspects related to climate change.

To identify, in a structured manner and in line with TCFD recommendations, the main risks and opportunities and their impact on the business, we have adopted a framework that explicitly describes the main relationships between scenario variables and associated risks and opportunities, highlighting strategic and operational measures, including mitigation and adaptation. 

There are two macro categories of risks/opportunities:

• those derived from the evolution of transition scenarios; and
• those derived from the evolution of physical variables.