Enel to build Guatemala hydro plant
GUATEMALA - Enel Green Power, Italy's biggest renewable energy company, will build an 84 megawatt hydropower plant in Guatemala as part of its push to expand in renewable energy in Latin America, the company said.
EGP, which its parent Enel aims to place on the market this year, said the total investment in the project would be 185 million euros US $226.6 million, with 10 million euros coming from Italian public-private holding company Simest.
The new plant will use the natural water flow of the Cotzal river and its three tributaries and produce 370 million kilowatt hours of power a year avoiding emissions of 280,000 tonnes of carbon dioxide CO2, EGP and Simest said in a joint statement.
Enel group is already present in Guatemala's renewables sector and the new plant will boost EGP's existing "zero emission" generation capacity in the country by more than 140 percent, EGP Chairman Francesco Starace said in the statement.
EGP's installed capacity totals about 5,700 MW with more than 600 plants in operation in 16 countries in Europe and the Americas and a generation mix that includes wind, solar, hydro, geothermal and biomass.
Related News
Europe’s Big Oil Companies Are Turning Electric
LONDON - Under pressure from governments and investors, industry leaders like BP and Shell are accelerating their production of cleaner energy.
This may turn out to be the year that oil giants, especially in Europe, started looking more like electric companies.
Late last month, Royal Dutch Shell won a deal to build a vast wind farm off the coast of the Netherlands. Earlier in the year, France’s Total, which owns a battery maker, agreed to make several large investments in solar power in Spain and a wind farm off Scotland. Total also bought an electric and natural gas utility in Spain and…
