Enel Opens €12 Billion in Financing and a €1 Billion Share Buyback

Enel Opens €12 Billion in Financing and a €1 Billion Share Buyback

Enel’s Board signed off on a two‑pronged capital move: it authorized new Group financing transactions of up to €12 billion in bonds and bank loans to be completed by March 31st, 2027, “aimed at refinancing debt maturing by March 31st, 2027, as well as meeting the financing needs associated with the growth and investment initiatives of the Enel Group,” and delegated the CEO with full powers to execute these deals. 

On the same day, the Board also approved a new share buyback program of up to €1 billion, running from February 23rd to July 31st, 2026, “aimed at providing Shareholders a remuneration in addition to the distribution of dividends” through cancelling the repurchased shares. 

This new buyback program follows a previous buyback launched on August 1st, 2025, and completed on December 16th, 2025, under which 122,469,633 shares were bought for roughly €1 billion, all under the May 22nd, 2025, shareholder authorization for up to €3.5 billion and 500 million shares in total. 

Purchases will be executed by an independent intermediary on Euronext Milan and selected MTFs (Multilateral Trading Facilites) within strict price bands of no more than 10% above or below the prior day’s official price, and volume caps of no more than 25% of the 20‑day average daily volume, with Enel currently holding 136,754,875 treasury shares, or about 1.3451% of its capital.

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Further reading: Enel launches a new share buyback program of up to 1 billion euros; Enel’s Board of Directors authorises group financing transactions

Repsol posts adjusted net income of €2.568 billion

Repsol delivered solid 2025 results in a tougher market, with net income of €1.899 billion (8% year-on-year increase) and adjusted net income of €2.568 billion (15% decrease vs 2024), amid lower Brent oil prices, a Nationwide blackout, and broader macro/geopolitical uncertainty. 

All segments contributed. Upstream activities adjusted net income was €957 million as Repsol exited Colombia and Indonesia, doubled down on the U.S. (including first oil at Leon-Castile and the Pikka project ramping toward 80,000 barrels/day in late 2026), and helped lift group production to 548,000 barrels of oil equivalent per day. 

Industrial adjusted net income was €963 million in 2025 (33.4% decrease vs 2024). Still, refining margins rebounded strongly in Q4, while Repsol advanced low‑carbon projects like 100% renewable petrol, a second renewable fuels plant in Puertollano, and the €800+ million Ecoplanta waste‑to‑fuel project. 

Customer and Low Carbon Generation were growth engines, with Customer EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) up 20% to €1.423 billion and renewables-adjusted net income rising to €53 million on 5,900 MW of installed capacity in 2025. 

Shareholder payouts remain front and center, as 2025 cash dividends reached €0.975 per share, total remuneration stood at €1.8 billion, and the company targets €1.051 per share and around €1.9 billion in 2026, supported by €10.271 billion in liquidity. 

Repsol CEO Josu Jon Imaz summed it up as “2025 has been another year of solid performance for Repsol, with significant progress across all our priorities.”

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Further reading: Repsol posts adjusted net income of €2.568 billion

Shell and IAG lead new capital raise for LanzaJet

LanzaJet has raised $47 million through an equity round and a UK grant, implying a $650 million pre-money valuation. The round was co-led by Shell and IAG (owner of Aer Lingus, British Airways, Iberia, Vueling, etc.). 

The company is targeting $135 million in total to scale its Alcohol-to-Jet technology, which converts waste-based ethanol from sources such as agricultural and forest residues into low-carbon jet fuel and renewable diesel. LanzaJet’s Freedom Pines Fuels plant in Georgia, United States, a $300+ million investment, is now fully operational, with a capacity of up to 10 million gallons per year, and offtake locked in for 10 years under a new tolling model using low‑carbon U.S. ethanol and renewable natural gas. 

A major UK Department for Transport grant will help advance Project Speedbird, a SAF biorefinery in Teesside, Middlesbrough. LanzaJet CEO Jimmy Samartzis said existing investors’ backing “reaffirms their conviction in our technology” and signals LanzaJet’s role in “defining the future of fuels for transportation.”

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Further reading: Shell, British Airways Parent IAG Lead New Capital Raise for SAF Producer LanzaJet

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Turkmenistan’s ex-president says diversifying gas exports is “primary goal.”

Turkmenistan’s ex-president Gurbanguly Berdymukhamedov, now the country’s influential “National Leader,” says the primary goal is to diversify exports of its huge natural gas reserves, the fourth largest in the world. 

Hence, to diversify, Turkmenistan openly invites international firms to participate in the long-delayed TAPI (Turkmenistan-Afghanistan-Pakistan-India) pipeline, saying it aims to complete the first leg to Herat, Afghanistan, by late 2026. However, to this day, no southern extension has been scheduled. 

In an interview given by Berdymukhamedov during his visit to the United States, the TAPI project must navigate recent border tensions and lethal clashes between Afghanistan, Pakistan, and India. 

Furthermore, Berdymukhamedov also voiced support for the Trans-Caspian Pipeline to send gas to Europe via Azerbaijan and Turkey, but noted that seabed delimitation issues with Baku still need to be resolved. 

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Further reading: Turkmenistan’s ex-president says diversifying gas exports is ‘primary goal’

Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — In the Cover Photo: Enel office in Oklahoma City, USA. Cover Photo Credit: Wikimedia Commons