Posted On November 23, 2018 By In SLIDER- With 382 Views

Enel plans to increase “green” power

Italy’s Enel Group plans to increase the installed capacity of its power plants operating on the basis of renewable energy sources (RES) to 48.4 GW by 2021, which is 23% up compared to the end of 2018. This is according to the Group’s 2019-2021 Strategic Plan which was presented to the financial markets and media on Tuesday by CEO Francesco Starace (Photo). By 2021, production of “green” electricity should grow by 32% to 132 GW/h up from about 100 GW/h expected in 2018. The capacity of the Group’s wind power plants according to its forecast for 2018 will be 8 GW and in 2021 it will grow to 14 GW. The capacity of the solar plants will be 2 GW in 2018 and by 2021 it will grow to 5 GW. The installed thermal generation capacity in 2021 is expected to reduce to 39.5 GW in comparison with 46.5 GW in 2018. According to the Group’s forecast, the total installed capacity of its power plants should increase to 93.4 GW in 2021 from 89.4 GW expected in 2018. Electricity generation at Enel power plants in 2021 is projected at 256 GW/h against 259 GW/h in 2018. In 2019-2021, the group’s capital costs are seen at 27.5 bln euros. For 2018-2020, this figure is 24.6 bln euros, as predicted a year earlier. Enel plans to spend 10.6 billion euros on the development of assets in the field of renewable energy in 2019-2021 up from 8.3 billion euros in 2018-2020. In 2019-2021, the Group’s capital expenditures on the development and maintenance of assets in the field of renewable energy amount to 11.6 billion euros. Capital expenditures of the group for the development and maintenance of power grid assets in the same period are projected at 11.1 billion euros. With the growth of investments, Enel intends to maintain the level of its debt by the end of 2021 at the same level as at the end of 2018. In 2021, Enel expects net debt at the level of 41-42 billion euros and in 2021 – 41.8 billion euros. The company’s EBITDA for 2018 is projected at 16.2 billion euros, by 2021 it is planned to increase by 20% to 19.4 billion euros. The Group’s net income in 2018 may reach 4.1 billion euros and grow by 37% in 2021 compared with the current year to 5.6 billion euros. The Group plans to maintain the share of income allocated for the payment of dividends at 70%.

Enel’s President Patrizia Grieco

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