* About 73 pct of spending on emerging markets
* To spend 6.1 bln euros to end 2018
* Core earnings to rise around 44 pct by end of plan
(Recasts lead, adds detail, background)
MILAN, April 3 Italy's biggest renewable energy
company Enel Green Power said on Thursday it would
spend most of the 6.1 billion euros ($8.4 billion) it has
earmarked for growth up to 2018 on emerging markets.
The company's new 2014-2018 business plan said some 73
percent of investments would be focused on emerging countries,
where there is stronger economic growth and where governments
are investing to boost access to electricity.
It said its plan included business opportunities in Uruguay,
Ecuador, Kenya, Egypt, Saudi Arabia and Russia.
Enel Green Power, which generates electricity from a wide
range of renewable sources including wind and solar, has
gradually been shifting investments away from its core markets
of Italy and Spain to countries with abundant resources, good
growth prospects and reliable regulations.
Both Spain and Italy have made radical changes to renewable
energy schemes in recent years.
The company, which is present in 16 countries, said it
aimed to add 4.6 gigawatts of installed capacity to its global
portfolio to take overall capacity to about 13.4 gigawatts in
2018 from 8.9 GW last year.
World electricity demand is expected to grow by 60 percent
by 2030, requiring an 80 percent increase in generation
capacity, the company said in its presentation.
The company, controlled by utility Enel, said it
expected its core earnings to grow around 44 percent by 2018 to
about 2.6 billion euros ($3.6 billion).
($1 = 0.7263 Euros)
(Reporting by Stephen Jewkes. Editing by Jane Merriman)