Francesco Starace at Russian Energy Week

Published on Monday, 8 October 2018

“We continue to invest in Russia”

– Francesco Starace, Enel CEO

These are changes that, as Francesco Starace explained in his talk during the plenary session, titled “Sustainable Energy for a Changing World”, offer new opportunities for the energy industry. During his address, the CEO focussed in particular on two processes guiding the energy transition that is currently underway: electrification and decarbonisation. If energy demand is, in itself, increasing at the global level, the demand for electricity, as a share of total energy, is growing at double the pace. “Energy consumption is shifting towards electricity,” said Starace, “to the detriment of other energy sources, because technology is making it more available, more accessible, and more easily useable.” This is a phenomenon taking place at a particularly opportune moment. In fact, thanks to renewables, CO2 omissions can be eliminated from electricity generation, while there are now also clear economic advantages.

Moreover, Mr Starace pointed out that nowadays electricity produced in ways that result in low or zero emissions can be used in increasingly intensive ways “in other economic contexts, such as urban transport, road transport, heating, cooling and industrial processes,” with positive effects in terms of sustainability and climate protection – one of the most urgent global problems.

Focussing on the country hosting the event, Enel’s CEO emphasised its strategic value for the Group. In fact, Russia has an incredible concentration of all energy resources in enormous quantities. Francesco Starace therefore reiterated Enel’s intention to continue investing in the country, and particularly the renewables market. It is no coincidence that contracts have already been won, as the CEO recalled in an interview given with Askanews from Moscow.

Enel editorial staff