Italy’s renewable power output overtakes fossil fuels for first time
Electricity produced from renewable sources in Italy in the first six months of the year surpassed power generated from fossil fuels for the first time ever, the power grid operator Terna (TRN.MI), said.
On 22 June, between 1300 and 1400 local time, hourly production from green sources reached a historic peak of 33.2 gigawatt (GW) in Italy, the grid operator said in a statement.
The figures are a boost for Italy’s efforts to pivot towards cleaner forms of generation. Under its energy and climate plan (PNIEC), Italy plans to increase the electricity produced by renewables to 63% of the total by the end of this decade.
Energy from renewables reached 67.3 Terawatt hours (Twh) in the first half, while power produced from fossil fuels fell 19% year on year to just over 58 Twh.
Among renewables, hydroelectric production posted a year-on- year increase of 65% between January and June to reach almost 26 Twh, a record high for the country.
The jump in hydro production was most marked in northern Italy where rainfall levels have been high this year, in contrast to the drier south of the country.
The trend is expected to boost second-half earnings for the country’s biggest utilities including Enel (ENEI.MI), and A2A (A2.MI), according to financial analysts.
In its report on electricity production, Terna also said that Italian renewable energy operating capacity grew by 3.7 gigawatt in the first half compared with an increase of 1.1 GW in the same period of 2023.
In the first half electricity demand rose 1.1% compared with last year, while it increased by 1.5% in the month of June.
Source: Reuters
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