Enel chief says Trump cannot affect renewables in the long term - report
Image by Enel Green Power SpA (www.enelgreenpower.com)
The head of Italian energy giant Enel SpA (BIT:ENEL) believes that even though the Trump administration can slow down the growth of renewables in the US, a single presidency cannot influence the industry in the longer term, he told the Financial Times (FT).
CEO Francesco Starace said, as cited by the newspaper, that any changes in US federal policy could only have a marginal impact on renewables boosting trends such as technological progress and market forces.
Enel, which in March 2016 absorbed back its previously spun-off renewables arm, intends to invest some EUR 5.2 billion (USD 5.7bn) in renewables, mainly in wind and solar power, over the next three years. About 40% of its growth capital investments over that period will be directed towards Latin America.
Starace told the FT that wind and solar power are driving electricity prices in Latin America down to levels that fossil fuels cannot match.