Enel Green Power Plans To Invest EUR6.1 Billion To 2016

Date : 03/23/2012 @ 6:23AM
Source : Dow Jones News
Stock : Enel (ENEL)
Quote : 4.795  -0.065 (-1.34%) @ 4:32AM
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Enel Green Power Plans To Invest EUR6.1 Billion To 2016

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Enel Green Power SpA (EGPW.MI), one of the world's biggest renewables companies, said Friday it plans to invest EUR6.1 billion under its new 2012-2016 business plan.

In a slide presentation, the company said its dividend policy under the new plan will include a 30% payout of profits.

Enel Green Power, controlled by Italy's biggest utility Enel SpA (ENEL.MI), forecasts earnings before interest, taxes, depreciation and amortization, or Ebitda, at about EUR1.7 billion in 2012.

Ebitda is seen growing to EUR2.2 billion in 2014 and to EUR2.6 billion in 2016.

The company expects to raise its installed capacity by 4.5 gigawatts over the 2012-2016 period.

-By Giada Zampano, Dow Jones Newswires; +39 06 69766920; giada.zampano@dowjones.com

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