EnergyWatch

Slight boost for Enel after tough year

While the Italian energy company experienced major challenges in both wind energy and hydropower during 2017, the year's result turned out better than expected.

Photo: Enel Green Power

The wind blew less than Enel had budgeted for. The Italian wind farm operator also experienced droughts in many of the areas where the company has hydroplants. This was a poisonous cocktail for the energy producer in 2017, which was otherwise meant to mark a big transition for the company into green energy.

However, Enel did manage to perform and exited 2017 with growth in revenue of 5.87 percent to a total EUR 74.7 billion. Meanwhile, the company's earnings were improved 2.6 percent to EUR 15.7 billion before taxes and impairments, according to a market update fro Enel, before the company presents its full annual report later this month.

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