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Enel announces plans to triple renewables and phase out coal by 2027

September 27, 2021

S&P Capital IQ ($):

Enel SpA announced Sept. 24 plans to triple its renewable energy generation to 145 GW by 2030 up from around 49 GW by 2020, among several commitments made through the company’s participation in a United Nations “High-level Dialogue” convened by U.N. Secretary-General António Guterres.

Enel also intends to reduce its scope 1 greenhouse gas emissions to 148 grams of carbon dioxide equivalent/kWh, or gCO2eq/kWh, by 2023 and 82 gCO2eq/kWh in 2030 from around 214 gCO2eq/kWh in 2020, according to a Sept. 24 news release.

Enel intends to increase electric vehicle charging points to more than 4 million by 2030, up from 186,000 in 2020, and increase electric buses to more than 10,000, from 912 over the same period. The company also plans to reach 5.6 million beneficiaries through new connections in rural and suburban areas over the 2020-2030 period, according to the release.

In addition, Enel said that it plans to accelerate its coal phase-out from 2030 to 2027. In June 2020, an Enel executive noted that the company would likely close its remaining coal-fired power stations around the world faster than anticipated amid worsening economics for the fuel. The exit had been tentatively planned for 2030.

[Stephen Cedric Jumchai]

More: Enel sets 145-GW renewable target for 2030, to exit coal by 2027

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