Enel Green Sales Rise 13% in Quarter on Latin American ExpansionLouise Downing
Enel Green Power SpA, the clean-energy arm of Italy’s largest utility, said first-quarter sales grew 13 percent from a year earlier after installing more low-carbon power plants in Latin America.
Revenue rose to 811 million euros ($914 million), from 720 million euros, the Rome-based company said Thursday in an e-mailed statement. Generating capacity increased by 10 percent to 9.8 gigawatts.
“A major contribution to this performance came from the expansion of installed capacity in rapidly growing countries, such as those in Latin America, which boast abundant renewable resources and stable regulatory systems,” Francesco Venturini, chief executive officer of EGP, said in the statement.
Growth came from an increase in wind-power generation as a result of expansion in Latin America and North America, EGP said in the statement. The company also said for its plan through 2019 that half of its capital spending of 8.8 billion euros will be channeled into Chile, Mexico and Brazil, where it expects to see high electricity demand.
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