The electricity market in Russia opens its great potential for renewables and smart grids. And Enel is ready to take the opportunity to strengthen its presence in an important market for the Group.
This account was given by Enel's CEO Francesco Starace among the central participants in Spief '17, the important international economic forum scheduled from June 1 to 3 in St. Petersburg, Russia.
In the course of a few interviews, Enel's CEO highlighted the great potential of the country's renewables and the intention of our Group to invest in this sector by participating in new green energy generation projects launched by the Russian government.
"Russia," explained Starace, "has a truly extraordinary potential in renewables that so far is untapped." The country has everything it needs in terms of natural resources, and we are facing a great growth potential. That is why we decided to participate in the new tenders, which represent only a small part of the potential, given Russia's size, but is a significant first step".
Russia's opening up to renewables comes just as the United States was preparing to announce its exit from the Paris Climate Agreement. On this point, during an interview with the CNBC global Network, Starace explained that he generally considered the potential decision of the White House to be imprudent, especially in terms of commerce and for the economy of the US, where most people seem to favour the agreement for fighting climate change and many large companies are changing their business in this direction.
Within the St. Petersburg Forum, Enel also signed an agreement with the Russian distribution and transmission company Rosseti. “This memorandum of understanding allows us to share our expertise on one of the key areas of the Group’s global strategy such as network digitisation, with particular emphasis on smart metering, network automation, and electric mobility”, said Francesco Starace, Enel’s CEO and General Manager. “In addition, the MoU will allow us to further explore the potential of our most innovative solutions in smart grid operation, a field in which Enel is traditionally a best-in-class benchmark.”
In fact, network digitisation is a key aspect for the development of renewable energy and the promotion of a more efficient energy use.
On the second day of the event, Enel's CEO will be among the speakers in two important panels, where he will speak about global collaboration and regional integration, and cooperation and development between Russia and Italy. Learn more about the topics of the Petersburg International Economic Forum 2017.