you can replace the dynamo with an alternator (fiat 126-650) but you will have to alter the wiring, the thick red wire from the alternator goes to the starter/battery, this needs to be a direct, on the regulator there are two wires that come from the generator, the other lead from the battery should have a thin wire connected to it terminal 30, that is connected to the small terminal on the alternator this goes to the warning lamp on the dash, then you can throw the rest away or put it on ebay.
p.s. you may need to use the front mounting bracket that goes with the alternator?