In this conversation, held on the occasion of the Master in Sustainability Management graduation, Francesco Starace, former CEO and General Manager of Enel, now Partner at EQT Group and Chair of both Sustainable Energy for All and the Science Based Targets initiative, reflects on the origins of the green shift, the challenges of leading transformation at scale, and the forces shaping the future of energy.

From intuition to conviction

Drawing to mind his tenure at ENEL, Starace says that the origins of the company's early move into renewables date back to 2008–2009, when the company began consolidating its green assets into what would become Enel Green Power. At the time, wind and solar were still marginal technologies, surrounded by uncertainty.

A deeper analysis—particularly of the evolution of the silicon industry—revealed a trajectory that would soon change the economics of energy. If that trajectory held, Starace recalls, “this source of energy generation will become unbeatable on the market.”

What started as an intuition quickly turned into a strategic direction. Within a few months, the company chose to invest in technologies whose full potential was still emerging, moving ahead of the curve.

The shift unfolded faster than expected. “It took less than half of the time that we had in mind… and that’s why other players were caught by surprise,” he explains. 

Leading change inside the organization

Transforming a large energy company meant acting on technology, operations, and people. The transition required closing legacy plants, redirecting investments, and building entirely new capabilities.

Inside the organization, reactions varied. Operational teams often sensed the direction of change early on, while the most significant friction emerged at the intermediate managerial level, where established ways of working were more deeply embedded.

“The most difficult part was to show them that it was not the end of the world,” Starace notes.

The transformation also reshaped the industrial logic—from large, centralized plants to a distributed system based on multiple, smaller assets. For many, this meant learning new technologies and rethinking how projects were designed and delivered.

An unstoppable transition

Today, the energy transition is often framed through short-term volatility—geopolitical tensions, regulatory adjustments, shifting priorities.

Starace places the focus elsewhere. The forces behind the transition continue to strengthen, driven by technological progress and economics.

“This transition driven by technology happens no matter what. It is something unavoidable.

Advances in material science and digital technologies are expanding electrification into new sectors, from mobility to industrial processes. As efficiency improves, demand follows.

“Don’t get confused by small changes… this is a big tide that will carry on no matter what,” he adds. 

Policy can influence timing and execution, shaping how smoothly the transition unfolds.

Europe’s position in the transition

Within this global scenario, Europe holds a strong position. Its industrial structure and limited fossil fuel resources create a clear incentive to accelerate electrification and renewable deployment. As Starace puts it, “we move from burning things to building things.”

The shift towards infrastructure—generation assets, networks, storage systems—opens new opportunities for industrial development and job creation, while supporting long-term energy security.

From corporate leadership to global impact

Today, through Sustainable Energy for All, Starace focuses on expanding access to electricity in regions where it remains limited. Around 700 million people, mainly in Africa, still live without access to power. Addressing this challenge requires policy design, knowledge sharing, and local capacity building.

“Most of the problems of energy poverty are not due to lack of funding… but lack of knowledge,” he observes. The organization works with governments to accelerate solutions that can deliver clean energy efficiently, leveraging technologies that allow countries to move faster.

Science-based targets and corporate transformation

As Chair of the Science Based Targets initiative, Starace is also engaged in shaping how companies approach decarbonization.

What started as an initiative after the Paris Agreement has become a global reference point, supporting thousands of companies in aligning their strategies with scientifically grounded climate targets. “If you come with things that don’t have any substantial resonance with science… you’re not going to get there,” he warns. 

Companies embark on this journey for different reasons—strategic vision, stakeholder expectations, or competitive dynamics. What determines the outcome is the depth of transformation: revisiting processes, redesigning operations, and committing to long-term change.