Dec. 18 – Enel Green Power opens two renewable energy plants in Costa Rica and Mexico, benefitting from the financial partnership with Simest, the public-private company promoting the internationalization of Italian companies. The Chucas hydroelectric plant in Costa Rica has an installed capacity of 50 MW, and the wind turbine Bi Nee Stipa II, in Mexico, a capacity of 74 MW. Simest participated, for both projects, for a total of € 10 million, giving Enel Green Power access to an interest subsidy. The partnership between Enel Green Power and Simest continues after the development of the hydroelectric plant of Palo Viejo, Guatemala, was completed in the first half of 2010 and became operational in the first quarter of this year. “We are pleased to continue the fruitful collaboration with Simest, with which we carry out projects that will generate significant benefits in terms of economic development, while protecting the environment – said Francesco Starace, CEO of Enel Green Power. The projects we are creating confirm our commitment to growth in the renewable energy sector in Latin America, where we are already present, as well as our strategy to use debt to finance our development projects as an alternative to using cash flows generated by EGP only when the projects or funding sources’ value is particularly advantageous.”
