Enel and Co prove renewables and growth go hand-in-hand

Three months ago, Rethink Energy wrote about Enel underlining the profitability of renewables in its quarterly earnings report. Its new preliminary results for the 2019 financial year, out last week, show much the same. The headline figure was its EBITDA, up at €17.9 billion, 10.5% greater than the year before, with the company outperforming its own expectations. The Italian Energy player claims this to be “driven by distribution networks in Brazil and by sales on end-user markets,” but notes how along with ramping up its EBIDTA came a record year for renewable installations – with 3 GW of capacity installed globally. This 3 GW comes as part of the company’s stellar example of transitioning away from fossil fuels – and…