Enel anticipates complete decarbonisation target by 10 years, Net zero by 2040

“We are advancing by ten years the goal of the complete decarbonisation of the group, with the achievement of ‘Net Zero’ by 2040”. This was stated by Enel CEO Francesco Starace on the occasion of the presentation of the 2022-24 strategic plan.

The Enel group, in fact, plans to abandon coal generation by 2027 and gas generation by 2040, replacing the thermoelectric portfolio with new renewable capacity as well as making use of the hybridization of renewables with storage solutions. Furthermore, the group led by Francesco Starace expects that by 2040 the electricity sold by the group will be entirely produced from renewables and within the same year the Group will exit the retail gas sales business. “In 2040, 100% of Enel’s power generation will be renewable”, explains Starace.

“We will continue to grow in renewables, enhancing what is already the largest private portfolio of renewable assets in the world”, explains Starace. “The Infrastructure and Networks business and the new Global Customers business line – he notes – will allow us to seize the incredible opportunities offered by electrification. The pioneering work carried out by all Enel colleagues and the Group’s advanced digital transformation will allow us to satisfy the evolving needs of customers over this decade “.