- GreenIT continues its growth path with a portfolio of new photovoltaic plants with a total capacity of approximately 140 MW developed by Galileo
- The parks will be built in three regions of southern, central and northern Italy: once in operation they will be able to satisfy the electricity consumption of over ninety thousand families
GreenIT, the Italian joint venture born in 2021, 51% owned by Plenitude (Company controlled by Eni) and 49% by 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 construction of eight photovoltaic projects. The new plants will be built in three regions of southern, central and northern Italy and will have a total capacity of approximately 140 MW.
Once in operation, it is estimated that the plants will be able to satisfy the equivalent of the consumption of over ninety thousand1 families2, thus contributing to the decarbonisation objectives of the 2030 Integrated National Energy and Climate Plan and to the country's energy transition.
Obtaining the 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 total 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.
Paolo Bellucci, CEO of GreenIT and Head Renewable Business Italy of Plenitude, commented: “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."
Ingmar Wilhelm, CEO of Galileo, commented: “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 for a combined total of 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.”
DEEPENING
Green IT is the joint venture 51% owned by Plenitude and 49% by CDP Equity, established to develop, build and manage plants for the production of energy from renewable sources in Italy. Created in 2021, the joint venture is part of the strategy aimed at supporting the country's energy transition, increasing the generation of renewable energy, in line with the objectives set by the National Integrated Energy and Climate Plan 2030. For more information, visit the green-it.online/ website
Galileo is a pan-European platform for development and investment in different technologies in the renewable energy sector. It was created in 2020 with the aim of making a significant and substantial contribution to the European energy transition, with a long-term industrial vision. To date, Galileo is pursuing a pipeline of photovoltaic, wind (both onshore and offshore) and battery projects, with a total size exceeding 10 GW, in 10 European countries. Galileo's goal is to further expand its pipeline to over 20 GW in the coming years. Galileo is led by Ingmar Wilhelm, developer and entrepreneur in the energy transition sector, supported by a team of internationally renowned managers, and is supported by four important institutional investors with long-term strategies: Infratil Limited, Commonwealth Superannuation Corporation (CSC), New Zealand Superannuation Fund (NZ Super Fund) and Morrison & Co Growth Infrastructure Fund (MGIF). For more information: galileo.energy
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