Europe's biggest utility unveils USD 190bn investment plan

Enel launches a "monster investment" program to meet a projected global rise in demand for renewables and electrification, seeking to expand green energy capacities and networks over the course of a decade.

Photo: Amanda Perobelli/Reuters/Ritzau Scanpix

Enel SpA, Europe’s biggest utility, is set to invest 160 billion euros (USD 190 billion) over the next 10 years on a bet that demand for green energy and electrification will surge globally.

Under Chief Executive Officer Francesco Starace, Enel has sought to ride the accelerating shift to a low-carbon world, committing vast sums of money to expanding its renewable power, networks and energy-efficiency divisions. Its bold investment plan comes as competition for new projects intensifies, with utilities now vying with oil majors pushing more aggressively into the sector.

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