- July 30, 2021
- Posted by: Stratford Team
- Category: Business
A logo of Italian multinational energy company Enel is seen at the Milan headquarters, Italy, February 5, 2020. REUTERS/Flavio Lo Scalzo/File Photo
MILAN, July 29 (Reuters) – Europe’s biggest utility, Enel (ENEI.MI), stuck to guidance for the year as spending jumped 16.3% in the first six months to fuel growth in its core green energy and networks businesses.
Ordinary core earnings in the period fell 4.9% to 8.36 billion euros ($9.9 billion), mainly due to a one-off gain booked last year and currency devaluation, in line with an analyst consensus.
“In the second quarter the group’s performance saw a solid and visible acceleration, taking the main operating values back to pre-COVID levels,” Enel CEO Francesco Starace said.
The group added 1.3 gigawatts (GW) of new renewable capacity in the first half and said it was targeting a record yearly add-on of 5.8 GW.
Enel, which controls Spanish utility Endesa (ELE.MC), aims to cut its carbon emissions by 80% by…
