European integrated utilities, whose activities stretch from grid operations, power generation, supply and customer services, show investment amounts that look very significant. Altogether the top 20 European utilities2 will invest €108bn in 2025, an 8% increase vs. 2024. These utilities are usually large-scale enterprises offering their services on several continents. Among the biggest investors we could cite:
- Enel will spend more than €11bn in 2025. The Italian utility plans to invest around €210 billion between 2021 and 2030, including €40bn through third parties. Enel will focus on renewable energy, grid modernisation, and digitalisation. The company aims to have about 80% of its installed capacity from renewable sources by 2030.
- EDF’s capital expenditure should reach €22bn in 2025 with a 2030 strategic vision plan that includes an investment programme of €100bn for renewables and nuclear energy to ensure a low-carbon energy mix.
- Iberdrola has outlined a €150 billion investment plan in the period 2024-2030, with €12bn in 2025 alone. Iberdrola has a significant focus on offshore wind and solar projects. The Spanish utility aims to increase its renewable capacity between 2020 and 2030 from 35GW to 95GW.
- Engie wants to reach a total renewable capacity of 95GW by 2030. The French utility will invest another €10bn in 2025 and should maintain a similar investment level until 2030.
Looking at the top 20 European integrated utilities, about half of their investment will be dedicated to renewable energy while 30% will go to their network infrastructures. In comparison with 2018, utilities’ investments into renewables represented 33% and conventional power generation 39% of their capital expenditure.
2 Top 20 European integrated utilities: A2A, Acea, EnBW, Enel, Centrica, CEZ, EDF, Enel, Engie, E.ON, Fortum, Hera, Iberdrola, Orsted, RWE, Statkraft, Suez, Vattenfall, Veolia, Verbund
