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Enel underlines the true profitability of renewables

Enel numbers were out this week, and it put on a capital markets day to show analysts how it had achieved them. Its ideas were put cogently and clearly by CEO Francesco Starace and an example to any major operator of how to run an energy business. His claim is that he can grow, embrace renewables and increase profits, all at the same time, and with 73 million end users, and 46 GW of current capacity, and a share price that has grown 90% over the past 5 years – he clearly has the knack and today the company is valued at a touch under $70 billion. “In 2015 we took the decision to go after smaller, more flexible projects,…

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