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Italy

Italy

EGP outlines wind expansion as revenue climbs 17.6%

ITALY: Enel Green Power (EGP) has revealed it is now constructing 1,135MW in wind farms globally.

In a presentation to financial analysts on nine-month results, the renewable unit of Italian utility Enel said it also has another 725MW in wind projects at the ready-to-build stage.

EGP saw EBITDA rise 22.8% to €1.2 billion in the first nine months of the year, as revenues climbed 17.6% to €1.86 billion. Net income inched up 3.1% to €363 million.

Total installed capacity rose 10.3% to 6,490 MW compared with 30 September, 2010 with wind representing 84% of new capacity.

Wind, which now represents 46% of EGP’s total installed capacity, also accounted for 67% of the €1.12 billion in capital expenditures in the nine-month period.

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