Enel continues its renewable transition, with first quarter coal generation dropping 79%

Enel SpA recorded group net production of 53,928 GWh for the first quarter of 2020, representing a 13.0% decrease compared to 61,956 GWh in the same period in 2019.

Notably, the group’s coal-fired production for the period plunged 79.0% year over year to 2,837 GWh from 13,535 GWh. Coal-fired generation accounts for 5.5% of the group’s total production, according to Enel’s April 27 operating data report.

Meanwhile, the group’s renewable production grew 12.0% year on year to 25,479 GWh from 22,741 GWh. Renewables account for 49.5% of the group’s total production.

For the first quarter of 2020, the company’s wind assets produced 7,419 GWh, hydro facilities generated 15,224 GWh, solar and other sources produced 1,242 GWh, while geothermal projects generated 1,594 GWh.

The balance in Enel’s portfolio will continue to shift as the company plans to close all of its remaining coal plants in Spain and Portugal within the next two years. Enel closed coal plants in Italy and Chile, and recorded more than €4 billion in total write-downs related to the fossil fuel in 2019.

Other European utilities also saw their coal-fired generation drop in the first quarter of 2020. Germany’s RWE AG reported lower lignite coal-fired generation and hard coal-fired generation during the period, primarily due to low market prices.

30 April 2020

IEEFA