Enel Green Power investments increased

Enel Green Power’s 2011-2015 industrial plan, which was presented at the Investor Day held on March 11, foresees an investment of 6.4 million euros by 2015.

Therefore, compared with the previous 5.2 billion euro plan, 1,2 billion euros have been added. Investments will mostly focus on wind energy hydroelectric, geothermal energy and solar power technologies. As much as 2.4 billion will be invested in Italy, Spain and Portugal, the rest in Europe and Latin America.

With this disbursement, Enel Green Power expects to increase its total installed capacity from the current 6.2 GW to 10.4 GW, raising the EBITDA (gross operational margin) to 2 billion euros in 2013 and 2.4 billion in 2015. This way, capital will be available “to carry out possible high-profit purchases”, said EGP Financial Director Alberto De Paoli at the Investor Day .

Among the new countries where the company is planning on investing, “we will greatly focus on Peru and Turkey, which is a large development ‘island’ ” said Enel Green Power CEO Francesco Starace, who explained the Group’s strategy: “Our commitment will be limited to no more than one or two new countries per year.”

Regarding Italy, EGP aims to increase net capacity by 0.5 GW, mostly from hydroelectric, solar and geothermal plants. The Fourth Conto Energia decree on incentives will ensure, said Starace, “a stable growth of the photovoltaic market and an investment return that, though slightly decreasing, will still have two digits. ” EGP’s results at March 31, 2011 were also presented at theInvestor Day.

Net income grew to 135 million euros at March 31, 2011, a 12.5% increase of over the same period of the previous year. Total revenues grew by 26.5% compared to the first quarter of 2010, reaching 611 million euros. The EBITDA also rose to 393 million euros (+20.6%) and the EBIT to 263 million (+19%). Net debt amounts to 3,333 million euros, increasing byf 7.8% in relation to the 3.092 million of last December.