By Nathan Allen

Endesa SA (ELE.MC) on Wednesday released a strategy update outlining the group's plans for the next three years and detailing financial targets.

The Spanish utility plans to invest 6.4 billion euros ($7.31 billion) between 2018 and 2021, while earnings before interest, taxes, depreciation and amortization should rise to EUR4 billion from EUR3.5 billion over the same period.

Net income should reach EUR1.8 billion by 2021, from a forecast of EUR1.4 billion in 2018, the company said.

Endesa said it plans to invest significantly in renewables in an effort to reduce carbon emissions from its generation portfolio.

Smart networks and digitialization are also key pillars of the company's investment strategy, Endesa said.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

November 21, 2018 02:55 ET (07:55 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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