Italian energy giant Enel has recently issued the statement in partnership with Greenpeace announcing that it will be phasing out coal investments. This is an important news not only for the Italians! Enel, in fact, is the second largest power company listed in Europe for installed capacity operating in 40 countries. The company is committed to focus on further boosting investment in renewable sources, energy efficiency, smart grids and storage systems.
Enel follows the footsteps of forward thinking European utility companies like RWE.
With a medium to long-term vision of an energy system largely based on renewable sources and energy efficiency, the utility company is now aiming to achieve total carbon neutrality by 2050.
Enel has already reduced CO2 emissions by more than 36 percent, and beaten the carbon reductions goals it had set for 2020 five years early. The great achievement was surely assisted by the cost of renewables which has fallen by over 50% since 2008, making carbon reduction goals more feasible and easy to reach than previously expected.
Well done Enel!
Well done Enel and Greenpeace!