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Enel, hitherto the world's biggest listed renewables developer, plans 35.8 billion euros ($39 billion) of gross capital expenditure in its plan to 2026, of which nearly 19 billion euros will help to modernise and make its networks more resilient. Shares in the state-controlled power group were down 0.4% at 1530 GMT paring a 1% initial loss on the Milan bourse and underperforming a nearly flat blue-chip index. Rising indebtedness was one of the reasons why the Italian government, which is the single biggest shareholder in Enel, decided to oust the group's previous CEO, Francesco Starace. New CEO Flavio Cattaneo pledged to spend only the cash generated by the business, without increasing the debt pile. The group will devote some 3 billion euros to actively manage its customer portfolio through bundled offers, which will include different commodities and services.

Persons: Antonio Parrinello, Enel, Francesco Starace, Flavio Cattaneo, Cattaneo, Stefano De Angelis, Starace, Francesca Landini, Giancarlo Navach, Keith Weir, Giulia Segreti, Elaine Hardcastle, Jonathan Oatis Organizations: REUTERS, Milan bourse, Thomson Locations: Catania, Italy, MILAN, Milan, Enel

Investments in renewables will be more selective, the group said, adding it would spend 12.1 billion euros in onshore wind, solar and battery storage. It will devote 49% of gross capex to investments in Italy, up from a 48% in the previous plan, which envisaged investment of 37 billion euros including 17 billion for renewables. Flavio Cattaneo, who succeeded long-serving CEO Francesco Starace in May, said the new 2024-26 business plan would turn Enel into a leaner and more flexible group. Enel said its net ordinary income was expected to grow to between 6.6 billion and 6.8 billion euros next year and rise to 7.1-7.3 billion euros in 2026. ($1 = 0.9168 euros)Reporting by Francesca Landini, editing by Giulia SegretiOur Standards: The Thomson Reuters Trust Principles.

Persons: Flavio Cattaneo, Francesco Starace, Cattaneo, Enel, Francesca Landini, Giulia Segreti Organizations: MILAN, Investments, Thomson Locations: Italy

☆ US solar company Suniva to restart idled factory thanks to Biden climate law
▼ + stars: | 2023-10-11 | by ( Nichola Groom | ) www.reuters.com time to read: +4 min

The company is the latest to commit to new U.S. solar production capacity since passage last year of the Inflation Reduction Act (IRA), which subsidizes domestic manufacturing of clean energy equipment. "Solar cells can succeed in this market. Suniva will begin producing solar cells, the building blocks of solar panels, at its Norcross, Georgia, facility in the spring of next year, the company said. OIC also committed capital this year to Canadian solar manufacturer Heliene for a new U.S. cell and panel factory in Minnesota. But he credits subsidies contained in the IRA for finally enabling Suniva to produce solar cells again.

Persons: Joe Biden, Brian Snyder, Joe Biden's, Matt, Suniva, Card, Trump, Biden, Suniva's Card, John Podesta, Bidenomics, Nichola, Marguerita Choy Organizations: Democratic, Plymouth Area Renewable Energy Initiative, REUTERS, Reuters, Orion Infrastructure Capital, Lion, White House, Thomson Locations: Plymouth, Plymouth , New Hampshire, U.S, Georgia, China, Norcross , Georgia, New York, Minnesota, Lion Point, America, KS

☆ Battered industry may find clean power refuge in Central Europe
▼ + stars: | 2023-10-03 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +6 min

CENTRAL EUROPE'S PERKSMuch of Central and Eastern Europe has a reputation for being home to outdated heavy industry that once powered former Soviet enterprises and churned out low grade machinery and appliances. A more recent draw is the emissions profile of some of Central Europe's power sectors. Share of electricity from clean sources in select European countriesThose high proportions of clean power are well above the average for Europe as a whole, and are also above the average for the richer nations within the European Union. Power sector emissions from select Central & Eastern European CountriesHungary's power system is also primarily clean, with nearly half coming from nuclear and over 15% from solar. Comparatively low power sector emissions are expected to trend steadily down as the region rolls out more renewable energy supplies.

Persons: Italy's Enel, Ember, Gavin Maguire, Lincoln Organizations: CENTRAL, Warsaw, Central Europe's, Europe, European Union, Gross, Eastern, International Energy Agency, Reuters, Thomson Locations: Mochovce, LITTLETON , Colorado, Central, Germany, Ukraine, Europe, Eastern Europe, Hungary, Romania, Poland, Slovakia, China, France, Eastern, Russia, Power, Czechia

☆ Focus: Colombia's potential renewables boom short circuits on Indigenous resistance
▼ + stars: | 2023-08-15 | by ( Nelson Bocanegra | ) www.reuters.com time to read: +7 min

Solar photovoltaic array is seen at a solar power field of the company Celsia, in Yumbo, Colombia, February 6, 2019. Joanna Barney, a researcher at non-governmental organization Indepaz said she was aware of the deaths associated with conflicts over renewables projects. Renewables - even if ostensibly more environmentally-friendly - are facing hurdles similar to those confronted by oil and mining companies, long Colombia's top sources of income. Wind and solar provide less than 1% - about 300 megawatts - of Colombia's current energy generation. "The projects aren't operating and it doesn't seem like they will start in the next two years," said Alejandro Lucio of Optima Consultores, which advises renewables companies.

Persons: Julia Symmes Cobb, Gustavo Petro, Italy's, Petro, Jose Silva, Silva, Enel, Colombia Erik Hoeg, Hoeg, Joanna Barney, Indepaz, Alexandra Hernandez, Alejandro Lucio, Optima, Nelson Bocanegra, Christian Plumb Organizations: REUTERS, University of La, EDP Renewables, Brookfield Asset Management, AES, El, Nacion, Reuters, Renewables, Colombian Renewable Energy Association, Thomson Locations: Yumbo, Colombia, BOGOTA, Colombia's La Guajira, Guajira, University of La Guajira, Energi, Brookfield, La Guajira, Colombia's, Europe, Chile, Mexico

☆ Italy's Enel to invest more than $1 bln in Oklahoma solar panel factory
▼ + stars: | 2023-05-22 | by ( Nichola Groom | ) www.reuters.com time to read: +3 min

[1/2] A logo of Italian multinational energy company Enel is seen at the Milan's headquarters, Italy, February 5, 2020. The facility will be among the largest to produce solar equipment in the United States, where most projects are built with imported panels. It is also one of the first U.S. factories to produce silicon-based solar cells on a large scale. The investment is one of the biggest in solar manufacturing since the passage of U.S. President Joe Biden's landmark climate change law, the Inflation Reduction Act (IRA), last year. Enel, which had first said last year it planned to build a U.S. solar factory, selected a site in Inola, Oklahoma, near Tulsa.

☆ Italy's Enel to invest more than $1 billion in an Oklahoma solar panel factory
▼ + stars: | 2023-05-22 | by ( ) www.cnbc.com time to read: +2 min

Italy's Enel said on Monday it will invest more than $1 billion in a solar cell and panel factory in Oklahoma, seeking to capitalize on the U.S. push to build a homegrown clean energy manufacturing sector to compete with China. The facility will be among the largest to produce solar equipment in the United States, where most projects are built with imported panels. It is also one of the first U.S. factories to produce silicon-based solar cells on a large scale. The investment is one of the biggest in solar manufacturing since the passage of U.S. President Joe Biden's landmark climate change law, the Inflation Reduction Act (IRA), last year. Enel, which had first said last year it planned to build a U.S. solar factory, selected a site in Inola, Oklahoma, near Tulsa.

☆ Enel close to Greek renewables stake sale to Macquarie -sources
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

ATHENS, April 27 (Reuters) - Italy's Enel (ENEI.MI) is expected to finalise by May a deal for the sale of around a 50% stake in its Greek renewables unit to Australia-based Macquarie Group (MQG.AX), two sources close to the matter said on Thursday. Enel said in November it was looking for a partner willing to buy part of Enel Green Power Hellas and invest in its development. "The talks with Macquarie for a stake of about 50% are seen concluding in the coming days," one of the sources told Reuters. Macquarie, which holds a 49% stake in Greece's sole power grid operator HEDNO, declined to immediately comment. Under the strategy presented by CEO Francesco Starace in November, Enel decided to exit Romania, Peru and Argentina and to partner with investors in some countries or specific businesses.

☆ Italy's Enel, UK's newcleo link up on nuclear energy technology
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +1 min

MILAN, March 13 (Reuters) - Italy's biggest utility Enel (ENEI.MI) and 'clean' nuclear technology company newcleo have signed an agreement to work together on the British start-up's technology projects aimed at providing safe and stable power, they said on Monday. "Generation IV nuclear solutions aim to provide a safe and stable power source and to significantly reduce existing volumes of radioactive waste," Enel and newcleo said in a statement. Under the agreement, newcleo has committed to securing an option for Enel as first investor in its first nuclear power plant, which it will build outside Italy. London-based newcleo plans to design and construct the first-of-a-kind mini lead fast reactor to be deployed in France by 2030. Enel currently has over 3.3 gigawatt (GW) of nuclear capacity in Spain and retains a stake of around 33% in Slovak company Slovenské elektrárne, which recently connected to the grid the first of two turbine generators of the nuclear power plant of Mochovce.

REUTERS/Dinuka Liyanawatte/File PhotoDec 13 (Reuters) - For the energy industry, 2022 will be remembered as the year Russia's invasion of Ukraine accelerated a global energy crisis. The world's top energy companies beat a hasty retreat from Russia and wrote off tens of billions of dollars in assets. WHY IT MATTERSRussia's invasion of Ukraine caused European countries to re-evaluate their relationship with that nation, long the continent's primary supplier of natural gas. "We are seeing nothing less than the termination of a successful 50-year partnership on gas between Russia and Europe," said Michael Stoppard, special adviser and global gas analyst at S&P Global Commodity Insights. As the year comes to a close, costs for natural gas and heating fuel have ebbed as economic activity declines.

NEW YORK, Dec 7 (Reuters) - Sonnedix and Cubico, two renewable energy developers, are competing to buy Chilean solar power assets that Italy's Enel (ENEI.MI) has put on the block to help trim debt, sources familiar with the matter told Reuters. Consisting of around 500 megawatts (MW) of operating and newly built sites, the portfolio is expected to fetch up to 1 billion euros ($1 billion). Enel and Cubico declined to comment. Pension and infrastructure funds have been buying stakes in low-carbon energy generation for many years, attracted by their predictable returns. Additional reporting by Valentina Za and Francesca Landini in Milan; editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

☆ Energy crisis highlights need to broaden renewables' supply chain
▼ + stars: | 2022-12-01 | by ( Laila Kearney | ) www.reuters.com time to read: +4 min

[1/2] Enel CEO Francesco Starace speaks during the Reuters NEXT Newsmaker event in New York City, New York, U.S., December 1, 2022. REUTERS/Brendan McDermidNEW YORK, Dec 1 (Reuters) - The global energy crisis sparked by war in Ukraine has underscored how parts of the renewables supply chain might face similar struggles if not quickly diversified, energy executives told the Reuters NEXT conference this week. "Out of this crisis, you learn that there are many other things that might follow this same pattern," said Francesco Starace, CEO of Italy's Enel (ENEI.MI), speaking at the conference on Thursday in New York. Starace noted how solar panels are produced overwhelmingly in China, saying that, and the manufacture of other energy components critical to transitioning from fossil fuels, are potential problem areas. South Africa, the most industrialized country in Africa, will need to add more than 50,000 megawatts (MW) of new power generation capacity to help meet demand and stabilize its grid, Brian Dames, chief executive officer of African Rainbow Energy & Power, said at a Reuters NEXT panel on Wednesday.

☆ Italy's Enel to cut debt with 21 bln euro asset sale
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

MILAN, Nov 22 (Reuters) - Enel (ENEI.MI) plans asset sales worth 21 billion euros ($21.51 billion) to reduce net debt and focus its presence in six core countries, Italy's biggest utility said on Tuesday in its 2023-25 strategy update. Enel, which could also sell its gas portfolio in Spain, aims to reach a 51 billion-52 billion euro net debt target by the end of next year, from 69 billion euros at the end of September. Ordinary EBITDA is expected to grow to between 22.2 billion and 22.8 billion euros in 2025 from 19.0 billion-19.6 billion euros estimated in 2022. Enel pledged to reward investors with a 0.43 euro dividend for the 2023-2025 period, up from 0.40 euros in 2022. ($1 = 0.9761 euros)Reporting by Francesca Landini, editing Federico Maccioni, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Italy's Enel to build solar pv cell & panel factory in U.S.
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

Companies Enel SpA FollowMILAN, Nov 17 (Reuters) - Italian utility Enel (ENEI.MI) said on Thursday it would build a solar photovoltaic (PV) cell & panel manufacturing facility in the United States. The factory is expected to initially produce at least 3 gigawatt (GW) and scale up to 6 GW of high-performance bifacial PV modules and cells annually, the group said in a statement. Construction of the factory is expected to begin in the first half of 2023 and the first panel will be produced and available to the market by the end of 2024. Reporting by Francesca Landini, editing by Gianluca SemeraroOur Standards: The Thomson Reuters Trust Principles.

☆ Italy's Enel in talks with banks to secure $15.7 bln credit line - source
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: 1 min

MILANO, Oct 18 (Reuters) - Enel (ENI.MI) is discussing with a pool of Italian banks to secure a credit line, worth up to 16 billion euros ($15.7 billion) to support Italy's biggest utility, a source close to the matter said on Tuesday. The facility would have a 70% guarantee from Italy's credit export agency SACE under a state-guarantee scheme to help Italian companies affected by surging energy prices, source added. Enel declined to comment. ($1 = 1.0163 euros)Register now for FREE unlimited access to Reuters.com RegisterAndrea Mandalà, editing by Cristina CarlevaroOur Standards: The Thomson Reuters Trust Principles.

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