EGP also continuing to eye wind opportunities in Colombia, Peru, South Africa and Morocco — all countries where it has no installed wind capacity yet, but where both economic and power demand growth are strong.
The renewable division of Italian utility Enel has earmarked EUR 6.1 billion for investments in its 2013-2017 investment plan. Emerging markets are slated to account for 69% of the EUR 5.5 billion in forecast growth expenditures, as EGP aims to end 2017 with total renewable capacity of 12.4GW, up 4.4GW from end 2012.
Turkey was included in its previous industrial plan, but EGP was not initially considering wind investments there.
"Turkish wind resource levels are at load factors between 30 and 40%, the total market grows at a pace of about 1GW per year. and the opportunity to choose every year between a regulated wind tariff and market prices provides some remuneration upside," notes Ingmar Wilhelm, the company's business development head.
Now present in 16 countries, EGP has also begun screening for renewable energy opportunities in the Middle East and East Africa as it seeks to identify potential future growth markets.