Enel brings forward net-zero target to 2040

Group accelerates investment in renewables capacity and networks as it looks to electrify new sectors

Italian utility Enel has brought forward its net-zero commitment from 2050 to 2040 as it seeks to accelerate the pace of its transition to low-carbon technologies. The group will now invest €170bn ($190bn) between 2021 and 2030, up from €160bn under its previous plan, CEO Francesco Starace announced at the firm’s capital markets day. “We will continue to grow in renewables, leveraging on what is already the world’s leading private renewable asset base,” he said. The firm expects to have 154GW of renewables capacity by 2030, more than triple its 2020 capacity of 49GW. 154GW – Enel’s targeted renewables capacity by 2030 Of the €170bn investment planned, €160bn will go on assets directl