Endesa to Boost Investment in renewables

Wednesday, November 21, 2018

Spanish energy group Endesa plans to raise investment in renewables over the next three years and slightly lower the proportion of its profit it will pay in future dividends, the company said on Wednesday.

In an update to its strategic plan, Endesa laid out proposals for 5 billion euros ($5.7 billion) in net capital expenditure, with investments in renewables like wind and hydropower taking the lion's share each year.

It committed to continuing an existing policy of paying 100 percent of net profit to shareholders until 2020, but set an 80 percent limit for payments in 2021.

Endesa's parent, Italian utility Enel, pledged on Tuesday to invest more in its green energy and network businesses to boost earnings and meet growing demand for electricity and new digital services.


($1 = 0.8776 euros)

(Reporting by Isla Binnie)

Categories: Finance Wind Power Renewable Energy Renewables

Related Stories

VARD Snags $125m Shipbuilding Deal for Subsea Contruction Vessel

CIP Reaches Financial Close for Offshore Wind Farm in Taiwan

Woodside Inks Long-Term LNG Supply Deal with China Resources

Second Hai Long Substation Heads to Project Site Offshore Taiwan

Sapura Energy Nets $720M from Multiple Drilling Services Contracts

Shell Predicts 60% Rise in LNG Demand by 2040 with Asia Leading the Way

Eco Wave Finds Partner for Wave Energy Project in India

European LNG Imports Up with Asian Influx

Europe's Gas Uncertainty Help Drive Asian LNG Spot Prices Higher

Flare Gas Recovery Meets the Future

Current News

VARD Snags $125m Shipbuilding Deal for Subsea Contruction Vessel

Mitsui’s STATS Lands Malaysian Pipeline Isolation Job

INEOS Wraps Up Acquisition of CNOOC’s US Oil and Gas Assets

Fire at Petronas Gas Pipeline in Malaysia Sends 63 to Hospital

Japan’s ENEOS Xplora, PVEP Ink Deal for Vietnam Offshore Block

CNOOC Makes Major Oil and Gas Discovery in South China Sea

Valeura’s Assets in Gulf of Thailand Remain Operational After Earthquake

Op-Ed: Kazakhstan’s National O&G Firm Positioning Itself as Global Energy Player

Woodside to Shed Some Trinidad and Tobago Assets for $206M

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com