Enel Green Power has reported a 46% rise in ordinary earnings before interest, tax, depreciation and amortisation (EBITDA) in the first quarter of 2023.
Ordinary EBITDA in Q1 rose to €1bn, compared with €700m in Q1 last year.
EBITDA at the renewables business of Enel Group increased by 53% in Q1 to €983m.
Renewables now account for 56% of Enel Group’s generation mix from its plants.
The net electricity generated by the Enel Group in Q1 of 2023 amounted to 53.8 terawatt hours (TWh), a decrease of 5.4TWh compared to the value recorded in the same period of 2022 (-9.1%), due to reduced contribution from thermal sources.
In the period, generation from renewable sources increased by 3.1TWh, which breaks down as +1.4TWh from hydropower, +1.1TWh from wind; +0.7TWh from solar -0.1TWh from geothermal.
Generation from renewable sources, including volumes produced by managed capacity, exceeded that from thermal generation, reaching 33.1TWh (29.4 TWh in the same period of 2022, +12.4%), compared with generation from thermal sources of 17.0 TWh (25.3TWh in the same period of 2022, -32.8%).
Considering only the production from consolidated capacity, zero-emission generation comes to 68.4% of total generation of the Enel Group, while it is equal to 70.1% if managed generation capacity is also included.
The Enel Group’s long-term ambition is to achieve zero direct and indirect emissions by 2040.