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Enel to focus on distribution and renewable energy for its Latin American operations

Lardarello geothermal power plant by Enel, Tuscany/ Italy
Francisco Rojas Francisco Rojas 17 Nov 2014

Reuters details that Enel SpA is planning to invest $8.7 billion for Latin American on its local assets and shift focus to distribution and renewable energy.

Reuters informs that Enel is seeking to change way it operates in Latin America by investing more on distribution and renewable energy, since it is expecting more growth in the region.

According to Reuters, “Over the next five years, it will spend around 7 billion euros ($8.7 billion) on its local assets, which are held by Santiago-listed Enersis SA ENE.SN. Another 2 billion will go to Enel Green Power SpA (EGPW.MI), which has solar, geothermal, biomass, hydroelectric and wind operations.”

This recent shift from its traditional markets in Spain and Italy to the new-world economies and renewable energy might be the key strategy that the company needs to provide growth to the somewhat troubling levels of debt in the company.

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Source: Reuters