EGP’s solar keeps growing

09/13/2012

Francesco Starace anticipates: investments worth about 600 million in 2012-2016 and new projects in Europe, Africa and the Americas to consolidate established markets and continue to grow in emerging ones

Enel Green Power’s keeps growing. With some 600 million euros invested in 2012-2016 and a policy that combines the consolidation of activities in established solar photovoltaic markets and new developments in those that starting to grow or have already started growing, the Enel Group’s renewable company is getting ready for its new expansion.

Enel Green Power’s AD Francesco Starace described the present and future of the company in an intense interview with the economic newspaper MF. It included the activities in Italy and the Americas, Africa and Europe, as well as the scenarios of each country and the improved quotation of the shares on the stock exchange: “a sign that the market believes in the ability of Italy to recover, since it was the situation of the country that penalised us”.

In Italy, solar photovoltaic began a new phase. After the boom of the large projects in 2010 – 2011, the implementation of the Fifth European directive for the promotion of renewables helped the development of small systems, of which Enel Green Power Retail supplies about 10 MW per month.

The total solar PV capacity installed in Italy by EGP and ESSE (the joint venture with Sharp) exceeds 90MW. A result achieved after 8 new plants were recently put into service: 4 in Molise, 2 in Abruzzo that were built by EGP and 2 in Campania through Esse, the joint venture between Enel Green Power and Sharp.

Enel Green Power has an established presence also in Greece, where Starace recalls that 2012 “will be closed by EGP through Esse with plants under construction totaling 30 MW”.

And then? There’s the rest of the world: Latin America, Africa and Europe. Where from 2012 to 2016 the renewable company is planning on investing 600 million euros in solar PG. There are different objectives. Some countries are just starting and have huge growth potential, like Brazil, Chile and Mexico”, said Starace, “which will be developed over the next two-three years”.

Together with Latin American markets “the USA are still highly appealing, and plants have been recently put online with 26 MW”, but Enel Green Power’s perspectives go beyond.

In South Africa “ EGP with Sharp won a first concession of 10 MW ” and has“virtually been registered for” the next round of the government bid scheduled for May 2013. Next year EGP will also participate in tenders in Morocco and Starace said that the company “is also interested in Turkey anda Romania, to expand our wind and solar markets”.