Enel and stranded assets: Anyone want a power station?

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UK Only Article: 
standard article

Issue: 

The never-ending story

Fly Title: 

Enel and stranded assets

Rubric: 

Italy’s largest power company faces up to the “stranded assets” problem

Location: 

ROME

Main image: 

Awaiting rebirth

Awaiting rebirth

“IT’S not a funeral, it’s a transformation.” That is the positive spin Francesco Starace, the Tesla-driving boss of Enel, one of Europe’s biggest electricity companies, puts on a tough issue looming over the energy industry: stranded assets. He knows of what he speaks. Whereas executives at coal, oil and gas firms shudder at the thought that many of their vast reserves will be stranded if the world turns against fossil fuels, Enel is decommissioning old power plants as if its future depended on it.
Enel has announced that 23 power stations in Italy with a capacity of 13 gigawatts—enough to power a small country—are to be scrapped within five years. The first to be sold, on November 2nd, was …
Source: Utilities
Enel and stranded assets: Anyone want a power station?

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