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Italy

Italy

Enel Green Power targets Latin America

ITALY: Italian renewable energy group Enel Green Power is increasingly targeting wind opportunities in Brazil, Chile and Mexico as it seeks to break out of a declining domestic market.

The move is part of the firm's strategy across all renewables sectors to target emerging markets, amid regulatory uncertainty and declining investment opportunities in its domestic market and other countries with mature wind industries.

In a presentation of its 2012-16 strategic plan, EGP said it would invest roughly €6.1 billion to add 4.5GW of new capacity, 38% of which should come from emerging markets. In wind energy — which will account for 57% of all investments in the period — this means projects in Brazil, Chile, Mexico and Morocco.

In Brazil, EGP plans 460MW of wind-energy projects through 2016, of which 90MW are already under execution and a further 193MW awarded in a recent tender. In Chile, a 90MW project is also under execution, as EGP aims at total wind capacity there of roughly 340MW. In Mexico, 144MW of a planned 350MW in wind capacity is also under execution. By 2016, EGP is also planning to see 100MW in wind capacity operating in Morocco, a new market for the company.

Other emerging markets could be added to EGP's list. In wind energy, EGP is also eyeing investment opportunities in Peru, Colombia and South Africa.

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