SAO PAULO, April 14 Reuters Enel is planning to ramp up its growth in renewable power in Brazil in the coming years with new investments in onshore solar and wind generation plants, the company39;s Chief Executive Officer Francesco Starace said on Thursday.
Brazil already accounts for 40 of Enel39;s growth in Latin America39;s renewable market, a figure expected to increase as the group starts to depart from polluting thermal generation and adds more renewable power capacity to its portfolio, said Starace.
In the next three years, we will add 3,000 MW in Brazil, which is a lot more than we did in the past, but it39;s going to be a lot more in the next few years, because the acceleration is going on … the potential is huge, you have a lot of wind, space and solar radiation, Starace said.
Enel Green Power, the Italian company39;s renewable generation arm, operates more than 4,700 MW of renewable power in Brazil. Almost half of this power is concentrated in wind power, and the rest is divided between solar and hydro plants.
According to Starace, the country has favorable conditions, such as demographic growth, that draw a positive scenario for the company39;s business.
You don39;t have many countries with these conditions, in Europe we don39;t have demographic growth … Brazil is underrepresented in our portfolio, in the future it will be much bigger than several countries we are in today, he told journalists during an event.
Enel announced last year that it…