Grieco: “Interesting opportunities in the russian market”

Published on Tuesday, 21 June 2016

In today’s global economy and free market, collaborations between companies and Governments are central to the effective functioning of the system. The private sector is in fact the main player in a series of processes that affect the community as a whole, starting from decarbonisation. Large companies, including Enel, were therefore invited to participate in events such as the COP21 (the United Nations Climate Change Conference) in November 2015 and the recent Economic Forum in St. Petersburg, to discuss renewables, grids and regulatory frameworks.

The Forum is Russia’s most important economic event, bringing together heads of state, ministers and company leaders. This edition of the event – the first since the economic sanctions applied by the European Union and the United States – continued to highlight the centrality of the Russian Federation in global investment processes.

Enel Chairman Patrizia Grieco attended a business breakfast with Italian Prime Minister Matteo Renzi and President of the Russian Federation Vladimir Putin and spoke during the panel “Investments and joint ventures: what is the current scenario”, as part of a seminar on bilateral economic relations between Italy and Russia, focusing on the Made with Italy model. Among the participants of the debate were the Minister for Economic Development Carlo Calenda, Russian Deputy Prime Minister Arkady Dvorkovich and an audience of company CEO’s: Claudio Descalzi (ENI), Mauro Moretti (Leonardo-Finmeccanica), Sergey Chemezov (Rostec), Marco Tronchetti Provera (Pirelli), Guido Barilla (Barilla), as well as the president of Conoscere Eurasia Antonio Fallico, the president EuroChem Andrey Melnichenko, the President of the Russian Union of Industrialists Alexander Shokhin and Luigi Scordamaglia, CEO of Inalca-Cremonini and President of Federalimentare.

“Enel has been present in Russia since 2004, with important sales (along with our partner ESN) and generation activities, operating almost 10 GW in the country. The development of a regulatory framework for renewables and grids is crucial,” stated Patrizia Grieco at the round table. “Solar power isn’t the only kind of energy. We have wind, geothermal and many forms of renewable energy that can be developed, as long as there is an “attractive” regulatory framework. At Enel, we pay careful attention to the privatisation of the distribution sector and to relative regulatory changes.” The President confirmed the company’s interest in the Russian market, particularly in terms of renewables, expressing her satisfaction with the price floor, but reaffirming the need for improvements in the regulatory framework to local authorities.