Enel to invest in onshore solar and wind generation plants in Brazil

Enel is considering making investments in onshore solar and wind generation plants in Brazil.

The company is considering boosting its growth in renewable power in Brazil, according to the company's Chief Executive Francesco Starace.

To be noted, Brazil already accounts for 40% of Enel's global growth in the renewable market. The company is further planning to add more renewable power capacity to its portfolio.

Brazil has favorable conditions, such as demographic growth, that draw a positive scenario for the company's business, according to Starace.

"Brazil is underrepresented in our portfolio, in the future it will be much bigger than several countries we are in today," he was quoted in a media report.

Earlier, Enel had announced that it will invest about 9.8 billion euros in Latin America in 2022-2024. Out of this investment, half of the amount has been planned for Brazil.

Meanwhile, the group is also considering plans for investments in photovoltaic plants in South America.

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