Enel Green Power achieves EUR 2.78 billion revenues in 2013
Enel Green Power announced the financial results for 2013, with total revenues of EUR 2.78 billion in 2013, an advance of 12.2 percent compared to 2012, when it achieved EUR 2.46 billion in revenues. Also, the company earnings (EBITDA) were estimated at EUR 1.8 billion in 2013, 9.9 per cent more than 2012. 2014-03-10 12:44:51
Francesco Starace, Chief Executive Officer and General Manager of Enel Green Power, stated: "We are extremely pleased with the results posted in 2013, which confirmed, in line with our announcements to the market, the excellent implementation of the strategic guidelines adopted by Enel Green Power. Thanks to our efforts in 2013 we reached around 9,000 MW of installed capacity, a target set for the end of 2014 by our IPO plan. We have maintained our leading position in mature markets such as Italy as well as further strengthening our footprint in several rapidly growing areas of the world, such as the United States and Latin America, where we have many projects currently under construction"
The net installed capacity of the Enel Green Power Group as of December 31st, 2013 amounted to 8.9 GW, an increase of 0.9 GW (+11.3 per cent), of which 0.8 GW of wind capacity and 0.1 GW of solar capacity. As of December 31, 2013, net installed capacity in the Italy and Europe area amounted to 4.1 GW (a 3.3 per cent increase on December 2012), the company announced in a press release.
In 2013, Enel Green Power announced that the European Investment Bank (EIB) and Enel Green Power International BV, the financial and controlling holding company of the international subsidiaries of the Enel Green Power Group, agreed a loan of EUR 200 million to partially cover investments in a number of wind farms in the Banat and Dobrogea regions of Romania. The 15-year loan has a pre-repayment grace period of up to two and a half years, has financial terms that are competitive with the market benchmark and is secured by a parent company guarantee issued, at the request of Enel Green Power, by Enel S.p.A. The issue of the guarantee is exempt from the procedure for transactions with related parties adopted by Enel Green Power, as an ordinary transaction of greater importance at market, equivalent or standard terms.
The terms of the guarantee are indeed in line with those generally granted by Enel Green Power to leading banks for loans of similar amount and maturity.
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