Enel wants to reach 500 MW of wind in Romania by 2016

Newsroom 14/03/2012 | 14:00

Italian utility Enel plans to boost renewable investments in Latin America and Eastern Europe through to 2016, as electricity demand in its largest markets, Italy and Spain, has been hampered by the ongoing recession.

“Growth has to come from renewables and from Latin America, as well as Eastern Europe and Russia,” said Luigi Ferraris, chief financial officer at Enel, quoted by Bloomberg.

Enel Green Power, which is the renewable arm of the Italian utility, will spend EUR 6.1 billion globally on renewable projects in the next 4 years, out of which EUR 5.4 billion will be allocated solely in Latin America. Thus, around 4.5 gigawatts of renewable capacity will be added in this period.

Ferraris said Enel plans to reach 500 MW of wind installments in Romania by 2016, supported by the green certificate program and the strong winds present here.

Enel Green Power Romania has spent EUR 330 million in wind farms last year, taking the installed capacity to 269 MW.

Ferraris said the wind market in Spain reached maturity and the recent decision to halt subsidies for new renewable projects made the energy company boost investments in Romania’s emerging green market.

Ovidiu Posirca

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