By 2022, Italy's Enel will add 14 GW of renewable energy

Italian energy giant Enel expects to develop 14.
1 GW of renewable energy projects by 2022, making renewables 60%
of its total capacity.

Enel on Tuesday unveiled its strategic plan for 2020-2022, which includes a commitment of about 14.
4 billion euros ($15.
8 billion) to accelerate the deployment of renewable energy and gradually replace coal production
.
By 2022, Enel's coal capacity and output are expected to decrease by 61% and 74%,
respectively, compared to 2018.

Enel's total organic capital expenditure for the three-year plan was €28.
7 billion, an 11 percent
increase over the 2019-2021 plan.
About 44 percent of this is related to the group's renewable energy division, Enel Green Power (EGP), while 41 percent goes to the grid systems business
.

At present, the combined capacity of EGP is 42.
3 GW, of which hydropower accounts for 66% and wind power for 25%.

Enel expects its installed capacity to reach 54.
2 GW by 2022, of which hydropower accounts for 52% and wind power for 31%.

Geographically, Latin America will be the largest regional market for EGP by 2022, with 10.
7 GW of hydropower, 3.
7 GW of wind and 4 GW of solar and other assets
.
This means that Enel expects to add about 5.
1 GW of renewable energy capacity, mainly wind and solar
, in Latin America between 2019 and 2022.

Overall, the investments outlined in the plan are expected to result in an increase in earnings before interest, taxes, depreciation and amortization (EBITDA) by 13%, from €17.
8 billion in 2019 to €20.
1 billion in 2022, with a minimum dividend per share expected to reach €0.
40 in 2022 and €0.
32 this year
.