Enel energy is planning to invest almost €18bn in renewable energy and smart grid markets in coming five years.
Out of this, nearly €5.4bn will be invested in emerging markets, digital meters and smart grids, all over the world.
Enel is aiming to increase its renewable energy capacity by 50 percent to 7.1GW mostly in Latin America, North America and Africa.
The company also plans to launch new product and service offerings to drive its retail growth.
The plan offered by company includes their strategy built upon the core strengths on the position in emerging markets and leadership in technology and digital distribution grids in more mature markets.
These strengths will allow the firm to take advantage of demand growth in Latin America and Africa driven by demographic trends and economic cycles, as well as rapidly evolving energy market dynamics, such as digitization, in mature economies.
Recently, Enel Green Power commissioned its 102 MW Sureste I-Phase II wind farm in Oaxaca state of Southern Mexico.
Enel has installed 34 turbines of 3 MW each, which can produce 390 GWh a year.
The Italian developer was awarded with the contract to build Sureste 1 Phase 2 through the public tender for External Energy Producers held by the Comisión Federal de Electricidad, included with a 20-year power purchase agreement.
The project cost was nearly USD 160 million (EUR 143.8m), part of which was financed with a loan from local banking group BBVA Bancomer.
In addition, Enel is planning to sell €5bn worth of assets over the next five years.
Enel is in talks to sell 66 percent stake in Slovak power generator Slovenske Elektrarne, besides selling its renewable energy assets in the US.
In another initiative, Italian operator 3 Italia partnered with Athonet Smart grid to equip with a 4G-LTE network at the Brindisi power plant maintained by Enel.
The companies have custom made their combined technology and services, delivering a Network Function Virtualization (NFV) based system for the Federico II plant, one of the most advanced power plants in Europe.
Sabeena Wahid
editor@greentechlead.com