Enel Plans to Put 50% of Planned Investments in Decarbonisation
2019年11月26日 - 6:38PM
Dow Jones News
By Giulia Petroni
Enel SpA (ENEL.MI) plans to put about half of its total planned
investments towards decarbonisation, the company said on Tuesday
ahead of its capital-markets day.
The Rome-based energy company said it targets a total organic
capital expenditure of 28.7 billion euros ($31.6 billion) for the
2020-22 period, up 11% on previous estimates. Approximately EUR14.4
billion of this will be invested in increasing the company's
renewable energy capacity, Enel said.
"2019 has marked a turning point for the dynamics of
transformation within the world's energy systems and we expect an
acceleration of the trends of decarbonisation and electrification
in the years to come," said Chief Executive Francesco Starace.
More specifically, Enel plans to invest EUR12.5 billion in
renewables and expects capacity to increase by 14.1 gigawatts by
2022, reaching approximately 60 gigawatts of total managed
capacity.
By the end of the planned period, Enel expects to reduce its
global production of coal by 75% compared to 2018 and the share of
renewables on total capacity to reach 60% in a three years.
Enel's investments in decarbonisation are expected to contribute
EUR1.4 billion to the company's earnings before interest, tax,
depreciation and amortization over the plan period.
The company also said it plans to invest EUR1.2 billion of capex
in electrification of consumption, which are expected to yield
around EUR400 million in Ebitda growth over the period.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
November 26, 2019 04:23 ET (09:23 GMT)
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