Huge growth for Enel in Latin America

Published on Friday, 24 January 2014

After a strong end to 2013, in the last two weeks Enel has further consolidated its presence in Latin America through the realisation of a number of impressive achievements.

The memorandum of understanding signed by Enel's CEO Fulvio Conti and the Executive Director of the Mexican Electric Research Institute José Luis Fernàndez Zayas that will see collaborative work in geothermal energy and smart grid development is testament to Enel's commitment to renewable energy in Mexico, as is the recent opening of the two sites where two wind farms, which will be put into service in the second semester of  2014, will be built: The 100 megawatt Dominica I in the State of San Luis Potosí and the 102MW Sureste I-Phase II. The construction of these two plants will require investments totalling around $356million, which will partly be covered thanks to a $150million funding contract  signed with the Banco Bilbao Vizcaya Argentaria Bancomer (Mexico).

A similar agreement, again in Chile, has also been signed with the Banco Bilbao Vizcaya Argentaria, this time for $150million over five years. This contract follows another with the Danish Export Credit Agency (EKF) and Citi drawn up in December 2013, which is worth €100million and will support Enel Green Power's growth in Chile, where it recently grid-connected the 90MW Talinay and Valle de los Vientos wind farms and is building the 99MW Taltal, its largest wind power facility in the country. It is also building its first solar plant in Chile, the 36MW Diego de Almagro, while it is exploring several geothermal concessions that have potential capacity that exceeds 100MW.

However the first good news of the new year came from Brazil, where EGP was awarded multi-year energy supply contracts as part of the public Pernambuco's Solar Tender alongside two PV solar projects which have a total capacity of 11MW. Through Endesa, the Enel Group manages about one gigawatt of installed capacity in the country, it has some six million customers in the States of Rio De Janeiro and Cearà, and also manages an Electrical power transmission line between Brazil and Argentina.

Also thanks to its subsidiary Endesa, the Enel Group is the biggest private electricity operator in Latin America, with an installed capacity of 16GW, subsidiaries in five countries and around 14 million customers. Moreover, through Enel Green Power it manages renewable energy facilities in Mexico, Costa Rica, Guatemala, Panama, Chile and Brazil which have a total installed capacity of 1.1GW.