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.
