Enel – which expects renewables to account for almost half its capacity by 2019 – delivered a 0.1% increase in net profits at €1.83bn ($2.02bn) for the first half of 2016, despite a 9.3% fall in sales.

That came thanks to improved margins in Italy and Latin America for Enel, which earlier this year took back full control of its renewables unit Enel Green Power.

The