Enel Green Power?s geothermal energy investments

More than 500 million euros will be invested by Enel Green Power between 2012 and 2016 for geothermal plant development in Tuscany.

After the renovation of Rancia 2, Rancia 1 Radicondoli (Siena) and Le Prata Castelnuovo Val di Cecina (Pisa)will also be refurbished.

Furthermore, 100 million will soon be invested in the total renovation of three geothermal plants in Piancastagnaio (Siena), while the Bagnore 4 facility will increase its capacity by 40 MW Bagnore 4.

Enel Green Power’s commitment in Tuscany is part of a global development plan that EGP is enacting in North America, Turkey and Latin America.

Indeed, the expansion of investments up to 2016 includes 16% of 6.1 billion euros for the development of geothermal.

The total geothermal capacity installed in Italy and the USA amounts to 775 MW.

In Chile, where the first 40 MW plant is about to start being built, Enel was granted in 2012 three new concessions, so that it now manages 8 facilities and has confirmed its leadership in this country.

In Turkey, following the agreement with its Turkish partner Uzun, EGP is the first foreign investor that operates in the field of geothermal exploration.

There are various reasons that justify investments in geothermal energy, including the creation of new jobs and environmental sustainability: only wind energy has lower carbon emission per GWh.

The turnover within this technology is expected to grow five times by 2017, according to a study conducted by Frost & Sullivan: in 2010 the geothermal sector achieved a turnover of 1.16 billion dollars, which will grow to 5.89 billion by 2017, with a compound annual growth rate of 26.1%.