Italy - Enel to utilize wind power as energy alternative

The Chief Executive Officer of Italy's Enel SpA announced that the company will increase the amount of electricity it generates from wind by more than five times in efforts to boost power capacity from sources that don't pollute.

Enel is seeking to more than double renewable-energy generation capacity to 7,382 megawatts by the end of 2012, he further added.

The new renewable unit had earnings before interest, depreciation, tax and amortization of $1.4 million in 2007 and is set to boost ebidta to more than $1.6 billion euros in 2012.

Enel plans to spend $10.7 billion in the five years through 2012 on technologies such as wind farms, solar power, and carbon capture and storage.