Enel head of global power generation says company’s coal exit will happen faster than expected

first_imgEnel head of global power generation says company’s coal exit will happen faster than expected FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Italian utility Enel SpA will likely close its remaining coal-fired power stations around the world faster than anticipated, with worsening economics for the fuel leading to billions in write-downs and making an even stronger case to replace capacity with gas-fired plants and renewable energy.The company is still one of the largest owners of coal plants among European utilities and last month was placed on a watchlist by Norway’s $1 trillion sovereign wealth fund for falling foul of new environmental guidelines, which require companies to own less than 10,000 MW of coal capacity.But Antonio Cammisecra, head of global power generation at Enel, said in an interview that the company expects to reach that milestone by the end of this year — likely accelerating Enel’s eventual exit from coal, tentatively planned for 2030.Enel now wants to close its last coal plant in Chile several years ahead of schedule, after which it will have only one small Colombian unit left in Latin America. In October, the company sold its last coal plant in Russia. “We’ll do it faster than we expected just one year ago,” Cammisecra said. “No doubt, by 2025, Enel will be out of coal in Italy and, mostly, around the world.”The rest of its coal stock, roughly 11,000 MW in all, is in Europe: In Italy, the company just got permission to close a 660-MW unit at its plant in Brindisi, while two of its five remaining plants in Spain also have the green light for decommissioning.“It must be done. And the quicker we do it, the better for everybody,” Cammisecra said. “We’re basically not burning coal right now … and this is not a temporary factor,” Cammisecra said, pointing to increasing generation from wind and solar, cheap gas and a tightening emissions market in Europe, which are all eating into margins for coal. “I think this [dynamic] is here to stay,” he said. “So better to close these plants now.”[Yannic Rack]More ($): Enel eyes faster coal exit as worsening economics ‘here to stay’last_img read more

Shafer, Clawson analyze Syracuse-Wake Forest matchup

first_img Facebook Twitter Google+ Much like Syracuse, Wake Forest has relied on its defense to keep its team afloat for a good part of the season.The Orange (2-4, 0-2 Atlantic Coast) makes its first in-conference road trip of the season when it takes on the Demon Deacons (2-4, 0-2) on Saturday at noon. It’ll be a matchup between two teams in the lower half of the Atlantic Division with defenses that have compensated for largely struggling offenses.“They do a very good job of taking away your inside gaps,” SU head coach Scott Shafer said during the ACC coaches’ teleconference Wednesday morning. “They get after it up front and create some penetration. I think their secondary is very good and the linebackers are very sound, especially in the box, taking away those seams and making you try to make plays on the outside.”While Wake Forest’s offense is dead last in the nation in yards per game, its defense is sixth in the ACC in passing yards allowed per game.In his weekly teleconference on Tuesday, Shafer said WFU’s defense will feature a few different looks, but they’re similar to what SU’s seen this season. Though the Demon Deacons’ offense has struggled mightily, Shafer said on Tuesday he expects Wake Forest to produce a “great” offensive game plan, having had a bye week to prepare for the Orange.AdvertisementThis is placeholder textBoth teams’ offenses will be run by first-year signal-callers, but Wake Forest head coach Dave Clawson pointed to the 34 upperclassmen on SU’s two-deep depth chart as he spoke highly of the Orange’s experience.“When you look at Syracuse, it’s how physical they are. They’re a very veteran offensive line,” Clawson said on the ACC coaches’ teleconference. “Overall, it’s a very experienced football team. With that, comes a very physical football team which we know they are.“That’s our biggest challenge with Syracuse, is how experienced and how physical they are.” Comments Published on October 15, 2014 at 2:25 pm Contact Phil: pmdabbra@syr.edu | @PhilDAbblast_img read more