Enel Green Power plans €9.6bn capital investment to boost renewable power generation

Italy based Enel Green Power announced a plan to invest €9.6bn over the next five years, under its 2015-2019 strategic plan, to boost its renewable energy generation by 7.1GW.

Out of the total planned capital expenditure, the company is planning to dedicate 53% of the amount towards projects in Brazil, Chile and Mexico and countries that have shown growth potential in renewable energy sector.

The company also said that it will consolidate its presence in Africa where it has been awarded 1 GW of projects as well as look foropportunities in Asia.

Enel said it will leverage its integrated "design to costs" process, which will allow it to optimise capital expenditure while designing and constructing its plants while it is planning to use technical approach to boost its operational performance.

In Q1 2015, the company’s revenue increased by 12.6% to €811m, and it had an installed capacity of 9.8 GW with a cumulative generation of 8.7 TWh.

Enel Green Power CEO Francesco Venturini said: "The substantial acceleration of growth, the maximisation of asset value and the active management of our portfolio are the primary guidelines of our new strategic plan.

"With the goal of developing projects with a view to increasing our geographic and technological diversification and pursuing operational excellence, Enel Green Power will continue to focus on opportunities for growth in markets with excellent development prospects, such as Africa, where our recent success in South African tenders have made EGP the leading player in the continent’s renewables industry."