Renewable Energy Set to Represent 38.5% of ENDESA'S Generation Mix by 2009
August 26 2005 - 10:18AM
Business Wire
ENDESA (NYSE:ELE): -- The Company estimates 19,535MW of total
renewable capacity in 2009, 19% more than in 2004. -- ENDESA
intends to develop 3,100 MW of clean energy capacity in Europe by
2009, of which 2,500 MW will be installed in Spain and Portugal and
600 MW in Italy and France. -- In Spain and Portugal, efforts to
boost capacity to 9,289 MW -a 38% increase from 2004- primarily
entail new wind farms. -- Roughly 30% of growth in planned capex
over the next five years will be to develop new renewable energy
capacity. ENDESA (NYSE:ELE) estimates that renewable energies will
represent 38.5% of its total power generation mix by 2009. The
Company expects to have 19,535 MW of installed renewable capacity
by then, up from 16,421 MW in 2004, a total increase including
large hydro plants of 19%. Of this, 15,389 MW will be powered by
water, 3,903 MW by wind and 243 MW by biomass and waste. ENDESA has
earmarked around Euro 2,100 million for its renewable energy
development plan, nearly 30% of total planned investment in growth
in 2005-2009. The Company's Strategic Plan entails the addition of
new renewable capacity to achieve an appropriately diversified
generation mix, which underlines ENDESA's commitment to the
environment and sustainable development in the markets where it
operates. ENDESA aims to continue reducing the level of gas
emission per KWh produced in order to comply with the Kyoto
Protocol. ENDESA's specific emissions in Spain are now 27.5% lower
than in 1990. The company has achieved this reduction despite
increasing output by 120% over the same period. The target is a 35%
reduction in specific CO2 emissions by 2007 from 1990. By 2009,
around 40% of ENDESA's production plants will not release any type
of pollutant gas into the atmosphere. Geographical breakdown of the
plan In Spain and Portugal, the Company's efforts to generate more
power using renewable energies will be particularly important. The
aim is to boost capacity to 9,289 MW -a 38% increase from 2004-
primarily through new wind farms. Renewable energies are expected
to account for 35.2% of ENDESA's generation assets in Spain and
Portugal by 2009. The Company has earmarked roughly Euro 1,500
million for investment in renewable energies, mainly in wind farms.
While the bulk of this investment will be made in Spain, ENDESA
considers Portugal to be an important market in which to expand in
the field of renewable energy ahead of the future integrated
Iberian market. ENDESA currently participates in several projects
in Portugal (100 MW) and is developing a further 60 MW of wind farm
capacity. In the rest of Europe, ENDESA intends to bring on stream
more than 600 MW of renewable capacity in the period, 400 MW in
Italy and 200 MW in France. Planned investment for this is around
Euro 600 million. The Company considers the development of new
renewable energy capacity in Italy to be an investment opportunity
that will enhance its generation mix in that country. ENDESA
currently has 20 MW of wind farm capacity in Sardinia and recently
signed a framework agreement with Gamesa Energia by which it will
acquire from this company wind farms in Italy with a total
installed capacity of 200 MW in a period of three years.
Furthermore, ENDESA has been awarded 100% of the Italian company
IDAS, owner of the development rights for three wind farms in
Sicily (Italy), with total installed capacity of 90.95MW. In Latin
America ENDESA sees scope for the development of new projects in
those countries where it already operates by contributing its
experience and know-how. It also hopes to develop the flexible
mechanisms envisaged by the Kyoto protocol in this region.
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