Enel Green Power reported strong annual results as its parent company announced plans to increase investment in emerging markets and renewable energy.
Enel Group's 2014-2018 business plan, released alongside its results, included a pathway to increase its renewable energy capacity from 8.9GW in 2013 to 13.4GW by 2018.
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The Italian utility giant also plans to direct 57% of its capex into growth markets between 2014-2018. In particular, it expects stronger growth for renewables from emerging rather than established markets.
Enel Green Power reported total revenue of €2.78 billion (US$3.86 billion) up 12.2% from 2012.
Net installed capacity grew from 8.0GW in 2012 to 8.9GW in 2013.
Its solar capacity grew 107MW in 2013 to 268MW. The company has solar contracts in Brazil, Chile, it expects the latter to come online in 2015.
Salvatore Bernabei, head of Enel Green Power in Chile and Andean countries spoke to PV Tech about the company's plans last month.
