Innovatec, agreement with Senec for photovoltaic

MetalNRG EQTEC financing for an Italian plant in Gallina

(Finance) – Eliospower, subsidiary of Innovatec active in the Renewables business and Senec Italia, part of the German EnBW group, leader in photovoltaics and energy independence, have signed a memorandum of understanding aimed at defining a partnership with the aim of developing and building new ground-mounted photovoltaic systems starting from a pipeline of 100MWp with valorisation of the same through transfer to third parties.

The agreement – explains a note – provides, following a positive outcome of the due diligence, a participation by Senec both in the SPV owner of the Pipeline (49%) and in the investments to be made for the development authorization until the ready to build condition is reached . Elios will carry out all activities necessary to obtain authorization for the construction of the plants.

The agreement also provides for Senec to complete the entire construction process of the plant on a turnkey EPC (construction engineering procurement) basis until the plants are connected to the national grid.

The construction and sale of the plants is expected during 2024.