Enel Green Power to invest $250 mln in U.S. wind farm

Reuters

* New U.S. plant to have 150 MW capacity

* Will qualify for U.S. tax incentives

* Enel GP focusing on United States, emerging markets

MILAN, Nov 21 (Reuters) - Italy's biggest renewable energycompany, Enel Green Power, has started work on a newwind farm in the United States as it focuses on markets outsideEurope to boost growth.

The company, controlled by Italian utility Enel,said in a statement on Thursday that it would invest $250million to build the Origin wind power plant in Oklahoma.

The plant will have an installed capacity of 150 megawattsand be able to generate up to around 650 gigawatt-hours of powerper year.

Enel Green Power, which is placing more attention on windpower generation than hydro and solar, is keen to developbusiness in the United States because of the abundance ofresources and a favourable regulatory framework.

The Origin plant will be able to qualify for tax incentivesoffered by U.S. regulations, it said.

Enel Green Power is committed to diversifying itsgeographical footprint and technologies to help spread risk.

It has said in the past it is planning to spend less in itscore markets of Italy and Spain because of stagnating powerdemand and unclear regulatory frameworks.

The United States is expected to account for around 17percent of Enel Green Power's overall power generation in 2017,from 15 percent in 2012. The company currently has 1,265 MW ofinstalled wind capacity in North America.

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