Enel wins 12.9 GW of contracts in Italy's 2024 capacity market auction

Enel SpA secured 12.9 GW of contracts in Italy's capacity market auction for the 2024 delivery year.

Italy's grid operator auctioned 41.5 GW of capacity in this latest round. The auction allocated one-year contracts for existing capacity and 15-year contracts for new capacity linked to the capacity available for the electricity system, according to a Feb. 23 news release from Enel.

The utility secured 10.4 GW of existing capacity, 1 GW of foreign capacity and 1.5 GW of new capacity. It plans to cover more than two-thirds of the new capacity with battery energy storage systems, and the remainder will be met by renewable facilities, along with the refurbishment of some operational gas-fired plants.

Italy's capacity market auctions are intended to support the country's energy transition objectives, which include the closure of coal-fired power plants by 2025.