Italy"s Edison will spend some 3 billion euros ($3.4 billion) to more than double its renewable energy capacity by the end of the decade as it steps up efforts to cut its carbon footprint. The energy group aims to build another 3 gigawatts of wind and solar power by 2030 to take its overall capacity to 5 GW, Chief Executive Nicola Monti said in a presentation on Wednesday. The growth, concentrated in the south of Italy, will be mainly organic but acquisitions cannot be ruled out, Monti said. "We are looking to grow renewables in two markets outside Italy where we already operate, Greece and Spain," he said. Edison, owned by France’s EDF (EDF.PA), is fully focused on renewable power and energy efficiency after selling almost all of its upstream exploration and production assets. It still operates a portfolio of gas-fired power plants across Italy and has other gas assets like storage and liquefied natural gas. "We plan to build 500 megawatts of renewable capacity for electrolysers to produce green hydrogen," Monti said. Earlier this month Credit Agricole Assurances agreed to buy a 49% stake in Edison"s wind and solar business to help fund development of a unit worth more than 2 billion euros. read more Energy groups in Europe are looking for financial partners to help fund growth opportunities in green energy as economies turn away from fossil fuels to meet climate goals. Monti dismissed talk EDF could be considering a sale of its stake in the company. "I would say disengagement by EDF is certainly not on." He said he was unaware of any plans to re-list Edison. ($1 = 0.8879 euros) Reporting by Stephen Jewkes and Giancarlo Navach; editing by Agnieszka Flak, Kirsten Donovan Our Standards: The Thomson Reuters Trust Principles.