Renewable Energies Help Enel Group’s Surprise Profit

A surprise jump in net profit for Italy’s state-owned energy company includes the first financial contributions from CHI Energy, the U.S. renewable energy company.

ROME, Italy, IT, 2001-09-26 [] The Enel group reports a 78 percent increase in net profits, at US$1.4 billion, which is better than analysts had expected. Total demand for electricity in Italy grew by 2.5 percent during the period, and Enel gained one-off receipts of Euro 360 million from a state body that was established up to support investments made by companies in renewable energies. The utility reports smaller losses from its wind operations, at Euro 20 million compared with 35 million in the last period.

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