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Enel Green Power Sees 11.1% Revenue Growth

Italian renewable energy developer Enel Green Power posted its 2014 earnings report last week, and it is good news all around — with 11.1% revenue growth in 2014 and approximately 700 MW added.

Enel1Total revenue for the company across 2014 was 3 billion euros, up 11.1% compared to 2013’s 2.7 billion euros. The company’s EBITDA totaled 1.9 billion euros, a 5.6% increase on 2013’s 1.8 billion euros.

Enel Green Power attributed the growth to strong growth in Latin America and the US, specifically, seeing 150 MW of new capacity added in the US in the last three months of 2014, and 100 MW in Mexico.

“In 2014 EGP further consolidated its growth with 1 GW of additional installed capacity and even stronger performance despite considerable discontinuities experienced during the year as well as the weak economic scenario,” stated Francesco Venturini, Chief Executive Officer and General Manager of Enel Green Power, in commenting on the results.

“Development was almost entirely concentrated in areas posting strong growth in the renewables sector, such as Latin America and the United States,” Venturini continued. “The identification and implementation of new projects was accompanied by targeted initiatives to optimise our portfolio. Such initiatives included the sale of all our wind farms in France and the settlement of the dispute with El Salvador’s government, which involved the disposal of our interest in LaGeo, thereby paving the way for an acceleration of development in more promising countries.”

Wind energy made up the majority of new capacity additions by the end of 2014, with 5.7 GW, or 60%, followed by hydroelectric with 2.6 GW.

Enel Green Power hasn’t been a big news item here at CleanTechnica, but as can be seen by its 2014 figures, that’s likely to change as the global renewable energy industry continues to grow and exert its influence.

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