European utilities signal $20bn renewables spree

Enel Green Power plans expansion in a number of countries

Enel Green Power plans expansion in a number of countries

Two of Europe's utility heavyweights have unveiled plans to pump a combined €14.4bn ($20.6bn) into renewables during the next decade.

Enel Green Power of Italy is earmarking €6.4bn to 2015 to expand its renewable generation portfolio, while EnBW of Germany separately says it will invest €8bn in the energy sources to help shift the country away from nuclear power.

Enel Green Power, the renewables unit of Enel, Italy’s largest utility, aims to expand production in Spain, France, Greece, Turkey and Romania, as well as the Italian market, Bloomberg quotes chief executive Francesco Starace telling a conference in Dubai.

Enel Green Power could also expand to North Africa and the Middle East Log in to read complete article.

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