Enel

Enel, Italy’s largest utility company, embarked on a significant transformation in the early 21st century. CEO Francesco Starace, appointed in 2014, required the company to build no new electricity power plants and renewable energy projects and dams that were opposed by the local population of the area where they were to be constructed or that did not begin to produce revenue within three years. These directives had a transformative impact on the company, reducing the company’s dependence on traditional fossil fuels and igniting the company’s innovative capacity.

Despite these efforts, Enel faced substantial challenges in 2017. One of the significant hurdles was managing the transition to green energy while ensuring profitability and stability. Enel had to navigate the complexities associated with shutting down old, polluting power plants and integrating new renewable energy sources into the grid. Moreover, the push towards decarbonization stressed Enel’s resources. How could the company stay on the path that Starace’s directives had laid out?