Eni says solar only viable alternative energy -BBC

MILAN, July 21 - Italian oil and gas producer Eni thinks the only viable alternative energy source is solar, Chief Executive Paolo Scaroni told BBC World television in an interview broadcast on Tuesday.

"We think that solar energy is the only one renewable that really can solve our problems," Scaroni said in an interview on the channel's HardTalk programme.

Scaroni said Eni was "quite optimistic" on efforts to find new solar technology it is involved in with the Massachusetts Institute of Technology (MIT) in Boston.

"We are convinced that the alternatives being produced today are not the solution," Scaroni said, adding current technology to produce solar technology was not satisfactory either.

"That is the reason why we decided to invest our money in the new technology, in order to provide the world with solar energy which will be really clean and competitive," Scaroni said.

Eni is investing about 120 million euros over four years in a development programme called "Alongside Energy" on research for alternative sources, according to the BBC programme.

Scaroni said Eni had not found the right technology for developing energy from algae.

"Hydrocarbons are not the future long-term simply because one day they will not exist any more," Scaroni said.

Eni produces around 1.8 million barrels of oil equivalent per day.