“We have shifted investments to places where demand is growing”
It wouldn’t make sense for European government to push for growth in renewable energy at this moment in time, says Francesco Starace, chief executive officer of Enel Green Power (EGP), the renewable energy arm of giant Italian utility Enel. Overcapacity and stagnant demand in a number of European markets – including EGP’s core markets Italy and Spain/Portugal – means cuts in renewable energy incentives are logical, Starace says in an interview with European Energy Review. Even without incentive cuts, he adds, EGP would have pursued its current strategy, which sees the renewable group temporarily scaling back growth in Europe and pursuing growth in emerging markets instead.
