EGP to spend €6bn to reach 12.4GW

An EGP wind farm in Canada

An EGP wind farm in Canada

Italian renewables giant Enel Green Power (EGP) plans to invest €6.1bn ($8bn) between 2013-2017 with growth focused on emerging markets, the company says in its new investment plan.

EGP says capacity will increase by 4.4GW during the period to reach 12.4GW, making it one of the biggest renewables developers in the market.

The Italian company has added 3GW of capacity, most of it wind power, since its IPO in late 2010.

EGP says it is maintaining its investment plans despite a "persistently adverse economic scenario". It says the plan will be "essentially self-financed with a focus on emerging markets and further geographical and technological diversification."

The business plan foresees cash-flow generation of €8.4bn, which will fund capital expenditure of €6.1bn, as well as Log in to read complete article.

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