Factbox: Enel Green Power selling up to 33 percent in IPO

(BestGrowthStock) – Enel, Europe’s most indebted utility, is selling up to 33 percent in its Enel Green Power renewable arm in what is expected to be Europe’s biggest initial public offering (IPO) this year.

Following are facts about EGP and its main competitors:

* GLOBAL REACH:

EGP, founded in December 2008, has a total installed capacity of 5,761 megawatts (MW) and operates more than 600 plants in 16 countries producing electricity from water, sun, wind, geothermal sources and biomass.

Italy and Europe (excluding Iberia) account for 50 percent of the group’s installed capacity. Iberia and Latin America account for 36 percent and North America 14 percent.

* GENERATION MIX:

EGP has a diversified generation mix including 44 percent of hydroelectric capacity, 41 percent of wind capacity, 13 percent of geothermal and 2 percent of other renewables, such as solar, biomass and co-generation at the end of June. Most direct rivals tend to concentrate on one or two areas.

* GROWTH TARGETS:

EGP plans to invest 5.1 billion euros ($7.11 billion) in 2010-2014 to boost installed capacity to 9,200 MW by 2014. It targets earnings before interest, tax, depreciation and amortization (EBITDA) of 2.1 billion euros in 2014, up from 1.4 billion euro EBITDA forecast for 2011.

EGP’s installed capacity jumped 27 percent in the first half of 2010 from the same period of 2009, powered by the consolidation of Endesa’s renewable energy plants, which added 904 MW. Organic growth accounted for 313 MW.

In Italy and Europe capacity expanded by 209 MW, while in Iberia and Latin America it grew by 1,008 MW in the first half.

* MAIN RIVALS:

Spain’s Iberdrola Renovables SA, the world’s biggest wind power generator, had an installed capacity of 12,006 MW at the end of September 2010, mostly in wind generation. It aims to boost capacity to over 16,000 MW by 2012.

Portugal’s wind energy company EDP Renewables had installed capacity of 6,382 MW at the end of June and another 1,317 MW under construction.

EDF Energies Nouvelles, the wind energy arm of France’s nuclear giant EDF, aims to boost its worldwide capacity to 4,200 MW by 2012. At the end of June, its wind power capacity stood at 2,806 MW and solar capacity was 142 MW.

* DEBT:

The company had 3.0 billion euros net debt at end-June.

(Compiled by Svetlana Kovalyova; editing by Elaine Hardcastle)

($1 = 0.7173 euro)

Factbox: Enel Green Power selling up to 33 percent in IPO