(Finance) – GreenIT, the Italian joint venture born in 2021, 51% owned by Plenitude (Company controlled by ENI) and 49% from CDP Equity (CDP Group) and active in the production of electricity from renewable sources, has signed an agreement with Galileo, a pan-European development and investment platform in the renewable energy sector, for the creation of eight photovoltaic projects. The new plants will be built in three regions of southern, central and northern Italy and will have an overall capacity of approximately 140 MW.
Once in operation – explains the note – it is estimated that the plantsi will be able to satisfy the equivalent of the consumption of over ninety thousand1 families2, thus contributing to the decarbonisation objectives of the Integrated National Plan for Energy and Climate 2030 and the country’s energy transition.
Obtaining authorizations and starting the operational phase of the parks will take place within the time frame of the 2023-2027 Industrial Plan approved by GreenIT last April, which provides for overall investments of 1.7 billion euros (including the capital already committed) with the aim of reaching an installed capacity of approximately 1,000 MW . The initiative is in line with the company’s strategy which also has among its objectives the development and construction of greenfield plants, the implementation of already authorized projects, the repowering at the end of the useful life of existing operational plants with the aim of extending their and enhance its production capacity as well as the development of offshore wind projects.
“We are enthusiastic about this agreement with Galileo, which with its internationally recognized experience in the sector will contribute to the development of the GreenIT portfolio thanks to technologically advanced projects. The operation is in line with the company’s strategy and its objectives to develop, build and manage plants for the production of energy from renewable sources in Italy”, commented
Paolo Bellucci, CEO of GreenIT and Head Renewable Business Italy of Plenitude.
“We are very pleased with this forward-thinking agreement with GreenIT. The quality of the project portfolio developed by Galileo will find in GreenIT a company with all the right characteristics to best take care of its construction and operation. In Italy, Galileo is developing a further pipeline of onshore and offshore renewable projects totaling over 2,000 MW in the country. Synergies with high-level partners such as GreenIT can be a strong vector for further expansion of our activities”, comments Ingmar Wilhelm, CEO of Galileo.