Enel CEO Targeting Renewable-Energy Business in Middle East
- Utility signs cooperation agreements with Saudi Arabia, Dubai
- CEO Starace sees further decline in solar generating costs
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Rome-based utility owner Enel SpA is targeting renewables projects in Saudi Arabia and the United Arab Emirates as oil-rich Gulf countries take advantage of the falling cost of solar power to diversify their energy supplies.
“We will wait for the first tenders in Saudi Arabia,” Francesco Starace, Enel chief executive officer, said in an interview in Abu Dhabi, the biggest of the U.A.E.’s seven emirates. Dubai, the country’s second-largest emirate, has also started a renewable program, “so we will try and participate” in that, he said.