Enel Invests in Renewable Energy in Spain

Enel Union Fenosa Renovables (EUFER), a joint venture in which Enel holds 80% and Union Fenosa 20%, plans to invest up to 850 million Euro [US$1 billion] to construct renewable energy plants involving renewable energy sources with a maximum capacity of 650 MW, creating 900 jobs in the Estremadura region of Spain.

Thanks to a collaboration agreement with the Santos de Maimona Foundation, EUFER is planning the construction of wind farms, biomass plants and thermal solar plants in the region of Estremadura, which will create more than 900 new jobs. Individual projects will be carried out on the basis of specific agreements to be signed in June. EUFER is one of the leading players in the Spanish renewable energy market. It has an installed capacity of 900 MW and aims to reach 1,600 MW by 2010, in addition to part of the facilities planned for Estremadura. Enel is a world leader in the renewable energy field, with an installed capacity of more than 17,000 MW in Canada, Chile, Costa Rica, El Salvador, Guatemala, Italy, Slovakia, Spain and the United States. At the world level, Enel plans to invest 2.3 billion euro in this sector by the end of 2010.
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