• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Wind droughts
  • 19 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 7 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 1 day "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 7 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 11 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 4 days The Federal Reserve and Money...Aspects which are not widely known
  • 2 days "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 8 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 11 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 4 days "Dodgy Demand Data? The Oil Price Collapse Conspiracy" by Alex Kimani
  • 17 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 12 days Goldman Betting on Cryptocurrencies
Urban Areas See Opportunities In Cooling Tech To Combat Climate Change

Urban Areas See Opportunities In Cooling Tech To Combat Climate Change

Sustainable urban development is projected…

Oil Analysts Are More Divided Than Ever

Oil Analysts Are More Divided Than Ever

Oil analysts appear to be…

European Utility Giant To Invest $190 Billion In Renewable Infrastructure

Italy’s Enel plans to invest as much as US$190 billion (160 billion euro) by 2030 in boosting renewable power generation, decarbonization, and grid infrastructure as part of a new plan to become a “Super Major” in renewables, Europe’s largest utility said on Tuesday.  

Enel also plans to catalyze investments of US$35.5 billion (30 billion euro) from third parties in its plan to accelerate the energy transition.  

Of all planned investments, Enel will invest US$83 billion (70 billion euro) in renewables, expecting its total installed capacity in renewables to reach 120 gigawatts (GW) by 2030. This would be 2.7 times higher than its currently installed renewable capacity of around 45 GW. 

The utility also targets to reach an 80-percent reduction in direct carbon dioxide (CO2) emissions versus 2017. 

“With this new Strategic Plan we are setting a direction for the next 10 years, mobilizing 190 billion euros in investments to pursue our goals in a decade full of opportunities,” Francesco Starace, CEO and General Manager of Enel, said in a statement. 

Enel’s shares jumped by more than 3 percent in Milan on Tuesday afternoon after the plan was presented. 

Related: Saudi Aramco’s Landmark IPO Is Costing The Kingdom Billions

Enel Green Power, a unit of Enel, operates in the U.S., where it is present in 18 states with wind, solar, and geothermal plants with a combined installed capacity of 5.7 GW. Enel Green Power’s biggest renewables operations in the United States are in wind power, with more than 5.5 GW of installed capacity as of the middle of 2020. 

The Italian company is the latest utility pledging significantly increased investments in renewables. Most recently, Spain’s Iberdrola said it would invest US$89 billion (75 billion), with more than half of the investment increase, or 51 percent, going to renewables and 40 percent to networks. This is the largest investment program of a Spanish company in history, the firm said earlier this month.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News