“Investments in decarbonization are continuously increasing worldwide because it simply is a great business idea” says Francesco Starace, Enel CEO, in his interview with the Financial Times. Mr. Starace goes on to talk about the Group's goals while also revealing future scenarios for the industry, including the ever more important role of renewable energies. In that regard, Enel has developed a three-year investment plan in green economy, mainly wind power and solar energy, which is worth a total of 5.2 billion euros compared to only 0.8 billion euros in fossil fuels. The Group’s strategy is certainly in line with market trends and “is safer, more reliable and most of all faster”.
Investments in decarbonization are continuously increasing worldwide because it simply is a great business idea
Francesco Starace, Enel CEO
Recent studies by the UN and Bloomberg New Energy Finance reveal that last year renewable sources accounted for 55% of new installed capacity. Except for the US where investments in fossil fuels might be be making a comeback, the green economy is the future; in fact, even in the US renewables are expected to grow by 1.9% per year by the year 2050. In the interview Francesco Starace confirms the forecast saying, however, that US policies will not have a relevant impact on the development of renewable sources of energy. Over the next three years, Enel will invest especially in Latin America where the market “not only is competitive, but has lower prices compared to fossil fuels”. In Chile, for example, a supply contract for solar energy at 29.10 USD per MWh was signed in 2016; that is the lowest price worldwide, and half of what carbon would cost. These are signs indicating how inevitably central the role of renewables is, and the degree to which renewables really are the true engine of the future of energy.
Enel editorial staff