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Spanish power company Endesa said on Wednesday it would raise 7.
9 billion euros to invest in decarbonization, new renewable energy capacity and more over the period 2021-2023 as part of
the company's strategic plan for 2021-2023.
The company increased its investment in 2020-2022 by 25% and expects the revised strategic plan to increase its EBITDA by 10% by the end of 2023 and net profit by 12%
compared to estimated earnings for the current fiscal year.
Specifically, renewable energy will receive an investment of 3.
3 billion euros that will be used to connect about 3,000 MW of solar power and 900 MW of wind power
.
With Endesa shutting down coal-fired power stations in 2021, the new capacity will be enough to compensate for the loss
of 2,500 MW of coal power in the Iberian Peninsula.
Investment plans show that Endesa's total wind, solar and hydroelectric capacity will increase by 50% to 11,500 MW
by the end of 2023.
The company estimates that it will invest around 25 billion euros between 2021 and 2030, betting on Spain's national energy and climate plan and its post-pandemic economic recovery plan
.
Spanish power company Endesa said on Wednesday it would raise 7.
9 billion euros to invest in decarbonization, new renewable energy capacity and more over the period 2021-2023 as part of
the company's strategic plan for 2021-2023.
The company increased its investment in 2020-2022 by 25% and expects the revised strategic plan to increase its EBITDA by 10% by the end of 2023 and net profit by 12%
compared to estimated earnings for the current fiscal year.
Specifically, renewable energy will receive an investment of 3.
3 billion euros that will be used to connect about 3,000 MW of solar power and 900 MW of wind power
.
With Endesa shutting down coal-fired power stations in 2021, the new capacity will be enough to compensate for the loss
of 2,500 MW of coal power in the Iberian Peninsula.
Investment plans show that Endesa's total wind, solar and hydroelectric capacity will increase by 50% to 11,500 MW
by the end of 2023.
The company estimates that it will invest around 25 billion euros between 2021 and 2030, betting on Spain's national energy and climate plan and its post-pandemic economic recovery plan
.
