Simest to invest in Enel Green Power projects in Costa Rica, Mexico

(SeeNews) - Dec 18, 2012 - Italy's Enel Green Power (BIT:EGPW) said Monday that Simest, Italy’s public-private development financing institution, would invest in two of the company’s renewable power projects in Costa Rica and Mexico, with capacity of 50 MW and 74 MW respectively.

The investments in Costa Rica’s Chucas hydropower plant, which is currently being built, and the operational Bii Nee Stipa II wind farm in Mexico come after Simest and Enel Green Power have recently completed the 85-MW Palo Viejo hydropower plant in Guatemala.

The total amount of Simest’s investment in both projects is EUR 10 million (USD 13m).

Massimo D’Aiuto, chief executive of Simest, said that the agency had approved financing of 16 renewable energy projects in 11 countries, mostly in Central America, Italy and the US, for a total investment of EUR 1.134 billion.

(EUR 1 = USD 1.316)

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