Enel Green Power SpA plans to spend 6.4 billion euros on wind, solar and other renewables through 2015, Bloomberg reports.
Part of the funding will go to building a factory to make solar panels in Catania on the island of Sicily, Italy. Enel Green Power has earmarked about 1 billion euros for spending on solar plants and the panel factory. The first phase of the project will cost 300 million euros, and the possible expansion of the facility may bring the total expense to 800 million euros.
The company, which operates wind, solar, thermal and hydroelectric plants, is expanding in Europe and the Americas. Green Power may also expand to North Africa and the Middle East after 2015.