GreenIT, the renewable energy joint venture led by major Eni has inked an accord with Europe's Galileo global navigation satellite system to build eight solar plants across Italy to power over 90,000 homes and aid the country's green transition, a joint statement said on Monday.
The eight photovoltaic plants totalling around 140 MW will be in service by 2027, helping the country hit its decarbonisation targets under the 2030 National Integrated Energy and Climate Plan, said the statement.
“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," said Paolo Bellucci, GreenIT chief executive and head of Eni's low carbon unit Plenitude's renewable business.
The GreenIT-Plenitude agreement is in line with the company's goal of developing, building and operating renewable energy plants in Italy, Bellucci underlined.
GreenIT's strategy includes offshore windfarm projects, the development and construction of greenfield plants and the repowering of operational plants at the end of their life cycle to enhance their production capacity, the statement noted.
“We are very pleased with this forward-looking agreement with GreenIT....a company with all the right characteristics to take care of its (Galileo's project portfolio's) construction and operation," said Galileo CEO Ingmar Wilhelm, CEO.
Galileo is developing other onshore and offshore renewable projects in Italy that will generate more than 2,000 MW of power, Wilhelm said.
The scheduled start of the solar plants’ operational phase is within the timeframe of the 2023-2027 industrial plan approved in April last year by GreenIT. The plan forecasts total investments of 1.7 bilion euros aimed at reaching an installed capacity of 1,000 MW, the statement noted.
GreenIt was founded by Plenitude and state lender Cassa Depositi e Prestiti (CDP) in 2021.
