Enel Green Power sees 2015 core earnings falling to 1.8bn euros

MILAN: Italy's biggest renewable energy company Enel Green Power said it would spend 9.6 billion euros ($11 billion) over the next five years to grow its geographic footprint targeting mainly Brazil, Chile and Mexico.

The company, controlled by utility Enel, expects its earnings before interest, tax, depreciation and amortisation (EBITDA) to fall to around 1.8 billion euros this year, from some 1.9 billion euros in 2014.

EBITDA is expected to rise to around 2.1 billion euros in 2017, Enel Green Power said in a statement on Thursday after earlier it reported an 11.4 percent rise in first-quarter EBITDA to 536 million euros.