Italy's Enel aims to spend more to fund growth in clean energy and networks...
MILAN - Italy’s Enel aims to spend more to fund growth in clean energy and networks as it speeds up plans to reduce its carbon footprint and meet growing demand for electricity, Europe’s biggest utility said on Tuesday.
In its new business plan, Enel said it would spend 28.7 billion euros through 2022 as it looks to install 4,700 megawatts of new green energy per year and cut its coal-fired electricity production capacity by 61%. Enel CEO Francesco Starace said the plan targeted “opportunities in the power sector connected with the global decarbonisation and electrification trends”.
In its previous plan Enel said it expected annual growth in ordinary net profit of around 11% in the period 2018-2021.
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