Enel books diving results, announces large project installations

Europe's largest utility has dialed up on investments in the first quarter, which otherwise saw a setback in the company financials. Enel at the same time reports projects totaling 1.8 GW in the US.

Photo: Flavio Lo Scalzo/REUTERS / X06609

Everything from operations to profits took a plunge at Italian utility Enel in the first three months of the year.

In its financial report, Enel explains that the drop in revenue by 14.4 percent to EUR 17.1bn can be ascribed to things like declining activity in the Thermal Generation and Trading division in Italy and Spain. Add to that a decreased volume of sold electricity in Spain.

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