Enel, the Italian utility, is planning to invest big in the renewable sectors and Africa is its target for investment. The company plans to make the investment through its 69% owned Enel Green Power unit. In Africa the company is targeting 5,000 MW in renewable assets and will also invest heavily in Africa’s power grids. Enel’s CEO Francesco Starace told Reuters, "For us, Africa is the next Latin America," Starace told Reuters at the Business and Climate Summit in Paris. "In five years Latin America will no longer be emerging but emerged," he said, adding that Enel is the largest player across that region in conventional energy, renewables and distribution. Currently the company is investing in renewable energy assets in South Africa with a balance of 60% wind and 40% solar; however, South Africa is not the only market the company is looking at investing in, it also plans to spend heavily on wind, solar, geothermal and hydro energy in Kenya, Tanzania, Uganda, Mozambique, and Ethiopia. Enel Green Power will also participate in a wind tender in Morocco.
