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According to the EIB, the project consists of the development, construction and operation of a portfolio of solar photovoltaic (PV) power plants across Italy for a total of 383 Megawatt-peak (MWp). More specifically, it includes approximately 14 solar PV plants with indicative individual capacities ranging from 5 MWp to 80 MWp.
The aim is to contribute towards the national and EU energy and climate goals, namely helping to decarbonise electricity production across the EU and decrease the reliance on fossil fuels.
In certain regions where the plants are to be developed—specifically within EIB’s Cohesion Priority Regions—the project would also support the “less developed regions”.
The investment programme increases the production of electricity from low carbon sources (solar PV) and addresses negative climate and environmental externalities. It contributes to progressing towards the EU and national renewable energy targets of Italy.
The schemes are expected to rely on a mix of contracts for difference obtained through a competitive auction and wholesale market revenues (spot markets and/or PPAs). They thereby contribute to the EIB's Energy Lending Policy objective to support the market integration of RE projects.
As stated on the parent company's website (translated with DeepL.com), Eni and CDP Equity have established GreenIT, a new joint venture for the development, construction, and management of plants for the production of electricity from renewable sources in Italy. GreenIT, 51% owned by Eni and 49% by CDP Equity, aims to produce energy mainly from photovoltaic and wind power plants with the goal of reaching an installed capacity of approximately 1,000 MW by 2025, with cumulative investments over the five-year period of over €800 million.
As stated by Bloomberg, Eni SpA explores for and produces hydrocarbons in Italy, Africa, the North Sea, the Gulf of Mexico, Kazakhstan, and Australia. The Company both produces natural gas and imports it for sale in Italy and elsewhere in Europe. Eni transports natural gas in pipelines. The Company generates and trades electricity, refines oil, and operates gasoline service stations.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
Cassa Depositi e Prestiti SpA | Investor | Finance | contracts with | Eni SpA | Parent Company | Energy |
Eni SpA | Parent Company | Energy | owns | GreenIt SpA | Client | Energy |
No project contacts provided at the time of disclosure.
ACCESS TO INFORMATION
You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm
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