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WEF: Francesco Starace at the Davos meeting

Enel CEO, Francesco Starace, addresses the World Economic Forum

Obtaining sustainable, secure and reliable energy systems that manage simultaneously to keep global warming below high-risk levels. Enel CEO Francesco Starace spoke on this very topic at the annual meeting of the World Economic Forum (WEF), in Davos, Switzerland, which took place from 22 to 25 January. Climate change was the key topic on the agenda this year, a problem that concerns the entire planet and one that requires a joint commitment from countries and organisations because, as emerged during the meeting, only a strong and united team will be able to win this particular battle. The key factor identified at the WEF, in fact, is to take full advantage of all of the opportunities generated by the fourth industrial revolution that is currently taking place: “Globalization 4.0”. 

Decarbonisation is already possible. There’s no need to wait for new technological discoveries, we simply have to promote greater use of the technology we already have available

Francesco Starace, Enel CEO

By exploiting the power of technological innovations, which are becoming increasingly widespread and with an ever-greater global impact, it will be possible to make a significant difference in the fight against climate change. Within this context, the energy sector can provide an important contribution, as the CEO emphasised during his speech at the panel discussion “Realizing the energy Transition” that provided an opportunity for debate and reflection on the huge potential of the energy sector and the digitalisation of the networks. The technologies required to incentivise decarbonisation are already available, in fact. “There’s no need to wait any longer,” urged Mr Starace, explaining how technological developments and the advances achieved in materials science are revolutionising the energy industry, making renewable energies increasingly available and affordable. Besides making electricity prices more competitive and stable, renewables are also gradually facilitating the process of decarbonisation. That is why Enel intends to maintain its commitment to renewable energy, “a sector in which we are seeing strong demand from customers and one in which we shall continue to invest,” stressed Mr Starace in an interview with Class CNBC.

Furthermore, it is no coincidence that the WEF selected the project, “Mellila Second Life,” devised by the Enel Group, as a “member initiative” that exemplifies the circular economy.

The project developed by Enel at the Endesa power plant in Melilla, the autonomous Spanish city located on Moroccan coast, is a pioneering storage plant, based on the reuse of batteries and will be able to ensure a secure supply of energy to the Spanish enclave on the African coast, the electricity system of which is not connected to a national distribution network. The real strength of the project is the effective integration of technological innovation, environmental sustainability and the circular economy: an example of technological excellence acknowledged by the WEF.

Enel editorial staff