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Enel plans $9.9 billion capacity investment in Latin America
- 9 years ago (2015-05-11)
- Junior Isles
Italian renewable energy developer Enel Green Power has announced a $9.9 billion, 7 GW capacity addition and capital investment programme in Latin America.
EP Shanghai 2024
The capacity expansion will take place across the emerging markets of Chile, Mexico and Brazil and is expected to be finished in 2019.
Enel Green Power has been active in the development of new solar and wind projects in South America – and it has also recently secured around a fifth (1 GW) of the so-far total auctioned capacity of South Africa’s REIPPP.
Recent studies have concluded that countries like Brazil and Mexico are set to be good locations for the development of renewable energy, particularly as Brazil is expected to connect nearly 23 GW of new wind capacity over the next nine years. Mexico is seeking to hit a target of 35 per cent of non-fossil fuel generation by 2024.
At the end of first quarter 2015, Enel Green Power had an installed capacity of 9.8 GW with a cumulative generation of 8.7 TWh.