Global renewables giant Enel boosted revenue and core profits in 2019 as it built a record 3GW of clean power capacity last year, according to preliminary results.
The Italian group grew revenues 6% to €80.3bn ($88bn) and profits 10% to €17.9bn before interest, tax, depreciation and amortisation (Ebitda).
CEO Francesco Starace said: “In 2019 we continued along our growth path, once again achieving the targets we set for ourselves.”
Enel plans to hit more than 60GW of renewables by the end of 2022, up from 46GW now, under its latest strategic update published in late 2019. It plans to slash coal capacity by 61% in the same timeframe.
The group’s rapid shift from fossils, spearheaded by its Enel Green Power unit, was recently highlighted as a major bolster to its creditworthiness by S&P Global Ratings.