Italy has reached a significant milestone in its transition towards a cleaner energy future. Renewable energy production in Italy surpassed fossil fuel output for the first time during the first six months of 2024, according to grid operator Terna. On June 22nd, hourly production from green sources reached a historic peak of 33.2 gigawatts (GW), a significant achievement for the country.
The increase in renewable energy production was driven by a remarkable surge in hydroelectric power generation, boosted by high rainfall levels in northern Italy. Hydroelectric production increased by 65% year-on-year between January and June, reaching a record high for the country. The trend is expected to benefit major Italian utilities like Enel and A2A, boosting their second-half earnings.
Advertisement
Hey there! Want to support us? If you’re planning on shopping on Amazon, please consider using amzn.to/4bPDFNL. It doesn’t cost you anything extra, but helps us keep the lights on. Thanks for your support!
Italy’s commitment to renewable energy is evident in its ambitious energy and climate plan (PNIEC), which aims to increase the electricity produced by renewables to 63% of the total by the end of this decade. This milestone marks a significant step towards achieving those goals.