29 March 2012 – Bloomberg reports that Enel Green Power (EGPW), the renewable energy unit of Italy’s biggest utility, is targeting Morocco, South Africa and Turkey as the recession hurts power demand in its home market.
“They all have something in common; a promising abundance of renewable-energy potential, a lot of wind and sunshine,” CEO Francesco Starace said in an interview with Bloomberg. “On top of that, they have huge electricity demand.”
Enel Green has earmarked global spending of US$8 billion through 2016 to add 4.5 GW of installed capacity. As demand wanes in Italy and Spain, its biggest markets, the Italian company is looking to emerging markets to help achieve that goal.
Enel Green plans to add 100 megawatts of wind energy in Morocco by 2016 and 140 megawatts of solar power in South Africa.
The company is waiting to hear back on its bid to take part in a solar tender in South Africa and is also looking at a Moroccan plan to harness 2,000 megawatts of solar power.