November 10, 2010 / 11:35 AM / 10 years ago

Enel GP adds 20 MW of geothermal capacity in Italy

MILAN, Nov 10 (Reuters) - Italy’s biggest renewable energy company, Enel Green Power (EGP) EGPW.MI EGPW.MC, has added 20 megawatt of geothermal capacity with a start-up of new unit at a plant in central Italy, the company said on Wednesday.

Capacity boost has helped EGP, controlled by Italy’s biggest utility Enel (ENEI.MI), to post a 5.6 percent rise in core earnings in the first nine months of 2010. [ID:nLDE6A6061]

With the new unit start-up, the capacity of EGP’s geothermal plant near Siena in Tuscany has risen to 60 MW and, once operating at full output, the plant will produce more than 140 million kilowatt hours of electricity, EGP said in a statement.

That is enough to supply 55,000 households while avoiding emission of 200,000 tonnes of carbon dioxide and saving 55,000 tonnes of oil equivalent of fossil fuel a year, it said.

EGP installed capacity was 5,884 MW at the end of September, including 742 MW, or 12.6 percent, of geothermal capacity.

EGP stock fell on its market debut on the Milan and Madrid bourses on Nov. 4 due to diminished appetite from professional investors for green energy, and remains below a 1.6 euros a share price set in what was Europe’s biggest initial public offering since 2008. [ID:nLDE6A30KY]

Reporting by Svetlana Kovalyova

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