Renewables: well begun…

Published on Friday, 29 May 2015

"Well begun is half done" is a saying that tradition attributes to Latin poet Horace. And the proverb well adjusts to Enel's first part of 2015, with five months uphill between plants that were put into service, open worksites and assigned tenders. All these together result in 1543.2 MW which are increasingly extended the perimeter of Enel's green generation.

The Group's strategic plan for 2015-2019 allocates 48 percent of investment to renewables and sets the ambitious target of increasing their installed capacity by 7.1 GW. Despite the growing trend of the green industry, especially in emerging economies, and the high levels announced by forecasts for the next decade, it's an important challenge that involves a global competition between groups that are already consolidated on the market and new players determined to obtain spaces and business opportunities.

Over the first months of 2015 Enel Green Power showed that the target consisting in increasing by 50 percent the present 9.6 GW of renewable installed capacity can be achieved by the Group thanks to technological and geographical diversification, as well as an effective presence also on younger markets.

The 1543.2 new MW from renewables consist of 193 MW that have been put into service, 812.2 MW under construction and 538 MW assigned through tenders. For almost one-third it involves solar plants (471 MW) and for the remaining two-thirds wind farms (1072.2 MW). It comes mainly from Latin America's and Africa's emerging markets, but the list of countries also includes the United States (74 MW of wind under construction), Turkey (23 MW of solar PV that have been assigned) and Italy (8 MW of wind under construction). In a hypothetical ranking of countries that have contributed to this growth the first place would belong to South Africa (940.2 MW including online, under construction and assigned), followed by Chile (255 MW between worksites and operations) and Brazil (129 MW assigned and under construction).

The new capacity entered the horizon of EGP from January to May totaled development on several fronts in terms of markets and technological chains, reaffirming the validity of the strategy and business model implemented to date and confirmed for the future.