Enel brings forward net-zero target to 2040
Group accelerates investment in renewables capacity and networks as it looks to electrify new sectors
Italian utility Enel has brought forward its net-zero commitment from 2050 to 2040 as it seeks to accelerate the pace of its transition to low-carbon technologies. The group will now invest €170bn ($190bn) between 2021 and 2030, up from €160bn under its previous plan, CEO Francesco Starace announced at the firm’s capital markets day. “We will continue to grow in renewables, leveraging on what is already the world’s leading private renewable asset base,” he said. The firm expects to have 154GW of renewables capacity by 2030, more than triple its 2020 capacity of 49GW. 154GW – Enel’s targeted renewables capacity by 2030 Of the €170bn investment planned, €160bn will go on assets directl
Also in this section
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation
11 April 2024
Volatile allowance prices and small size of voluntary market undermine ability to drive investment, says Oxford Institute for Energy Studies
8 April 2024
Chevron New Energies is lead investor in funding round by Colorado-based provider of post-combustion capture technology