(BRIEF) GreenIT, the Italian renewable energy joint venture subsidized through Plenitude (Eni, 51%) and CDP Equity (CDP Group, 49%), has signed an agreement with Galileo, a pan-European renewable energy progression platform, to expand 8 photovoltaic projects totaling around 140 MW in southern, central and northern Italy. These projects, which are expected to be operational as part of GreenIT’s 2023-2027 business plan, are expected to supply electricity to more than 90 thousand homes, in line with Italy’s decarbonization goals. GreenIT’s strategy aims to reach an installed capacity of 1,000 MW, with renewable energy generation in Italy, adding new power plants, authorized projects, retrofitting of operational power plants and offshore wind projects. CEO Paolo Bellucci highlights the importance of this component to advance GreenIT’s project in renewable energy generation. Galileo’s CEO, Ingmar Wilhelm, underlines his commitment to Italy, with more than 2,000 MW of renewable projects underway.
(PRESS RELEASE) MILAN/ROME/ZURICH, January 8, 2024 — /EuropaWire/ — GreenIT, the Italian renewable energy joint venture founded in 2021 through Plenitude (Eni, 51% stake) and CDP Equity (CDP Group, 49% stake), has signed an agreement with Galileo, the pan-European platform for the advancement and investment in renewable energy, for the implementation of 8 photovoltaic projects, for a total of approximately MW, in 3 regions of southern, central and northern Italy.
Once operational, it is estimated that the plants will cover the electricity consumption of more than 90,0001 households2, thus contributing to Italy’s decarbonisation targets of the 2030 National Integrated Energy and Climate Plan and its energy transition.
The start of the operational phase of the plants is planned as part of the 2023-2027 Industrial Plan approved last April through GreenIT, which foresees global investments of 1,700 million euros (including the capital already committed) with the aim of reaching an installed capacity of 1,000 people. MW. The initiative is in line with GreenIT’s strategy, which also includes the progression and structure of greenfield plants, the structure of legal projects, the repowering of operational plants at the end of their life cycle with the aim of expanding their production capacity, and the progress of offshore wind projects.
Paolo Bellucci, CEO of GreenIT and Head Renewable Business Italy of Plenitude, commented: “We are excited about this agreement with Galileo which, thanks to its internationally recognised experience in the sector, will contribute to the development of GreenIT’s portfolio through technologically advanced projects. This transaction is in line with the company’s mission and its objectives to develop, build and operate plants for the production of energy from renewable sources in Italy”.
Ingmar Wilhelm, CEO of Galileo, said: “We are very pleased with this potential agreement with GreenIT. The quality of the portfolio of projects developed through Galileo will place its positioning in GreenIT, a company with all the mandatory characteristics for its structure and operation. In Italy, Galileo is developing a new portfolio of onshore and offshore renewable projects totaling more than 2,000 MW in the country. Effective synergies with high-caliber partners such as GreenIT can be important drivers for the continued expansion of our activities across Europe.
1) Calculation of the estimated average annual electricity consumption of an Italian residential visitor of 2,700 kWh/year according to information published by Arera in the 2021 Annual Report.
2) National Energy Situation Report 2022 prepared through MASE: states that “In Italy, in a year, a typical family consumes around 1,400 cubic meters of vegetable fuel and 2,700 kWh of electrical energy to meet the energy needs of their home , and around 1,000 liters of fuel to travel through their means of transport. These are consumption levels that, as they should be, constitute the energy footprint of a family of four, living in a house in the climate zone E (where 47% of the country’s consumption is located) (permanently occupied homes are recorded), they use vegetable fuel for heating, hot water for domestic purposes and for cooking and have personal means of transportation with which they travel about 15,000 kilometers a year.
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SOURCE: Eni
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