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Enel Targets Peru With $400 Million of Wind, Solar Investments

  • Utility has right to install 326 megawatts of renewable energy
  • Deals will curb exposure to volatile commodities, says analyst

Enel SpA’s renewable-energy unit will invest about $400 million in building 326 megawatts of new capacity in Peru after Italy’s largest utility won a tender issued by the Peruvian government.

Enel Green Power SpA’s won the right to a 20-year supply contract for 126 megawatts of wind power, 18 megawatts of solar power and 20 megawatts of hydropower capacity, the company said Thursday in a statement.