EGP's Starace picked as Enel CEO

Francesco Starace: 'Diversification is great'

Francesco Starace

Enel Green Power CEO Francesco Starace is in line to take the top job at parent group Enel – Italy’s biggest utility – after being nominated by the country’s government.

Italy’s Treasury named Starace as successor to incumbent Enel CEO Fulvio Conti, as part of a raft of changes to business leaders in major companies where the state holds major stakes and has the power to choose the top posts.

Starace – a Recharge Thought Leader – has steered EGP to become one of the world’s most significant renewables developers since it was created as a stand-alone entity in 2008, first as president and since 2010 as CEO.

He won plaudits for successfully listing EGP in November 2010, bucking the trend that saw the renewables units of other major European utilities fall out of favour with stock markets and retreat back to their parents.

EGP’s strategy has been based on diversity – of technology and geography – and it now has 8.9GW of capacity in 16 countries.

Starace recently unveiled a five-year strategy for EGP that aims to add 4.6GW by 2018 – investing €6.1bn ($8.4bn) in the process – with a heavy emphasis on emerging markets.

Starace, a nuclear engineer by training, has worked for GE, ABB and Alstom, as well as holding senior posts in Enel.

His appointment still has to be formally endorsed by shareholders at the Enel’s annual meeting in late May.

Vestas gets 58MW Poland order

01 September 2014 05:44 GMT

Glennmont round raises €500m

01 September 2014 04:34 GMT

Scots grant licence for EOWDC

01 September 2014 03:00 GMT

Aikengall extension opposed

01 September 2014 02:31 GMT

Drive to cut UK offshore costs

01 September 2014 01:21 GMT

Met Office launches German service

01 September 2014 12:43 GMT

Mainstream switches strategy

01 September 2014 12:29 GMT

IN DEPTH: The Eno success story

01 September 2014 12:07 GMT

NTR exploring US wind sale

29 August 2014 05:30 GMT

Siemens mulls options in Brazil

29 August 2014 08:28 GMT

Invenergy finances Quebec project

29 August 2014 04:29 GMT

400MW Global Tech 1 set to go

29 August 2014 03:10 GMT

First wind farm spins in Samoa

29 August 2014 09:10 GMT

Cape Wind faces new legal appeal

28 August 2014 05:46 GMT

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?

Login


Recharge Monthly Magazine