Italian Enel unit to invest EUR 1bn in USA, Canada – report
(ADPnews) – Oct 18, 2010 – Enel Green Power, the renewables unit of Italian power giant Enel SpA (BIT:ENEL), plans to invest over EUR 1 billion (USD 1.4bn) in the US and Canada in the next five years, the Wall Street Journal (WSJ) reported on Monday quoting the green unit's chairman, Luigi Ferraris.
About 80% of the funds invested in North America will be used for building of wind farms. The rest will be invested in other renewable projects, the WSJ wrote.
The expansion in the United States, where Enel has operated since 2000, could help Enel Green Power offset the weakness of the green energy sector in Europe.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.