With investments worth 28.7 billion euros between now and 2022, Enel prepares to face the next three years with a plan that continues on the path taken in 2015, when it adopted a sustainable business model. Enel CEO Francesco Starace made this point clear during his interview with Class Cnbc on 26 November, during the event held to present the Group’s strategic plan.
The strategy is “in line with the two global trends that are changing the entire energy sector: decarbonisation and electrification”. The CEO explained almost half of the investments are destined to the decarbonisation of power plants, while more than 1 billion euros will support electrification and the rest will go towards digitalisation and network automation. In the next three years “we expect to develop 14.1 GW of new renewable capacity, and to reduce coal production by 61% since 2019 and 74% since 2018”. This will lead to an expected EBITDA of 20.1 billion euros in 2022, compared to the 17.8 billion euros estimated for 2019. Furthermore, “The net income growth rate will be even sharper, reaching 6.1 billion euros in 2022 against 4.8 billion euros expected at the end of 2019”.
Sustainability remains a key factor. The plan is based on a sustainable business model, in line with the two global trends that are changing the entire energy sector: decarbonisation and electrification
Francesco Starace, Enel CEO
In the interview, Starace also discussed Enel’s commitment to electric mobility. Is it true that Italy is lagging in this field? “If we consider the public charging stations installed during the last two years, Italy is perhaps the country that has accomplished the most in Europe,” said the CEO, pointing out that, although there is still “a gap to bridge”, we must move past “this complex”. Thus, the Group expects the number of public and private electric vehicle charging points to increase almost tenfold, reaching a total of 736,000 by the time the plan is completed. “The question is, will that be enough? There are few cars at the moment, but in the future we have to see how quickly electric cars will spread,” Starace explained – noting that, in any case, Enel is ready to face this challenge: “We understand how it works, we have relationships with all car manufacturers, we know their plans and understand the difficulties they are going through to bring about this change”.
The Group’s goal is to create an infrastructure that can “support inevitable evolution and the technology on which it is based”. For a few years, this evolution will be part of our existence: “We are ready, and not worried. We have already installed a sufficient number of charging stations, and we are halfway there. In 2021-2022, the first infrastructure for 2-3 million cars will be ready”. And as Starace concluded, “from there on, everything will change”.
Find out more about the interview at:
Enel editorial staff