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Enel expects to add about 21 gigawatts of renewable capacity by 2025

November 22, 2022

ReNews.biz:

Enel expects to add around 21GW of installed renewable capacity, most of it in its core markets, by 2025, putting it on “on track” to reach its decarbonisation targets in line with the Paris Agreement.

In its 2023-2025 Strategic Plan, the Italian energy group said it aims to cover 90% of its fixed price sales with carbon-free electricity in 2025, bringing renewable generation to around 75% of total supplied by then. By 2025, in its six core countries, the group plans to sell around 80% of electricity volumes under fixed price contracts, an increase of around 15 terawatt-hours (+7%) on 2022 estimates.

Enel also expects to reach 100% of fixed price sales covered through own generation and long-term power purchase agreements (PPAs), with 90% expected to be covered by carbon-free sources. The group plans to develop its renewables capacity supported by a pipeline of around 425GW.

Enel stated it expects to accelerate the deployment of renewables in Italy and Spain, to enable longer duration fixed-price contracts, substituting the group’s thermal assets with sustainable technologies unaffected by commodity volatility, and in the United States and Latin America, to benefit from the long-term PPAs, which offer high visibility on returns.

[Staff Report]

More: Enel unveils 21GW green capacity goal for 2025

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