Enel Green Power annual net income down

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6 April 2016, Nuclear, Solar, Wind

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Revenue from sales and services for the year ended December 31, 2015 was E2.36 billion, compared to E2.15 billion for the year ended December 31, 2014.

Operating income for the year ended December 31, 2015 was E785 million, compared to E1.02 billion for the year ended December 31, 2014.

Income before taxes for the year ended December 31, 2015 was E448 million, compared to E708 million for the year ended December 31, 2014.

Francesco Venturini, CEO and General Manager of Enel Green Power, said: "Just over five years from its listing, Enel Green Power has consolidated its position as one of the main global renewable energy players, growing its installed capacity in 2015 by a further 1.5 GW, almost entirely in countries blessed by great resource potential and that leverage on the growing competitiveness and flexibility of those resources to meet their electricity demand.

"The contribution from the new installed capacity base and the increasing portfolio diversification underscore the soundness of our strategic choice that allowed Enel Green Power to counteract the effects of a more challenging price scenario, as well as ensuring robust cash flow that covers growth investments, also thanks to the optimisation of existing portfolio and despite the acceleration of investments driven by the recent strategic plans. 2015 also marks the entrance of Enel Green Power in new markets such as India and the launch of innovative projects, including rural electrification in Kenya and integration of storage in two of our Italian wind and PV plants. All of the above is testament to Enel Green Power's willingness to act as a leading player in the paradigm shift taking place in the electricity market."

Source: MarketLine

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