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. ……
We’d like to invest more in Europe but in this environment, it doesn’t make much sense to make major new investments here”, says Starace. “Instead, we’ve decided to shift our investments to places where demand for electricity is growing.” For EGP, this means an increased focus on emerging markets, with projects planned in countries like Brazil, Chile, Mexico, Turkey, South Africa and Morocco over the lifetime of EGP’s 2012-2016 business plan …….
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Maybe it’s all just coincidental…..