Enel Green Power eyes geothermal opportunities in Eastern Africa
Stillwater geothermal power plant by Enel (source: Atlas Copco)
Alexander Richter
26 Feb 2014
Enel Green Power is looking at East Africa for growth opportunities for its renewable business and in particular geothermal, so the company's chairman in a recent interview with Reuters.
Italian Enel Green Power has large ambitions for the expansion of its business and is looking at East Africa to reach its goals. This has been reported by Reuters following an interview with the company’s chairman, Francesco Starace.
Enel Green Power currently works in 16 countries having diversified its business from its core and home markets, Italy and Spain. The main focus is thereby on faster growing emerging economies.
Today, Enel is active in geothermal in Italy, Latin America and the United States. But the company is now looking at opportunities having identified Africa and the Middle East as areas for potential growth.
The company not only works with geothermal, but also solar and wind. East Africa is seen as politically stable and good resources provide great opportunities for geothermal development by Enel.
With investment plans of EUR 6.1 billion ($8.4 billion) for the period of 2013- 2017, the company is expected to present a new business plan in early April of this year.
Source: Reuters via Yahoo
