Spain's Endesa to spend $8.4 bln to 2024, mainly on grids and green power
MADRID, Nov 25 (Reuters) - Power firm Endesa said on Thursday it will channel most of its planned 7.5 billion euros ($8.4 billion) spending in Spain and Portugal in 2022-2024 to grids and green power as part of an international bid by its parent, Europe's largest utility Enel, to rid itself of fossil fuels.
Enel has pledged to invest 70 billion euros to almost triple the renewable energy generation capacity it directly owns to 129 gigawatts (GW) by 2030, one of the biggest green budgets among European utilities, who are all under pressure to help combat global warming.
Endesa said on Thursday it aimed to boost its renewable energy capacity to about 24 GW in 2030 from 7.8 GW in 2020.
($1 = 0.8916 euros) (Reporting by Isla Binnie, editing by Inti Landauro)
