Enel SpA ENEL

Morningstar Rating

Return to Aggressive Renewables Expansion Implies Some Risk for Enel

Business Strategy and Outlook

Enel is the largest European utility in terms of earnings. The Italian government owns 24% of it. It is an integrated utility operating mainly in Italy, Spain through its subsidiary Endesa, and in Latin America. The grid business accounts for around 35% of the earnings. The rest comes from generation and supply. The power generation mix is dominated by renewables, with hydro, solar, and wind accounting for two-thirds of its capacity.

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