GreenIT, a joint venture between Eni’s subsidiary Plenitude and CDP Equity, has signed an agreement with Galileo to develop eight solar projects across Italy.
Located across three regions in the southern, central and northern parts of the country, the projects will have a combined capacity of 140MW.
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The beginning of the plants’ operational phase is set out in the time frame in the 2023–2027 Industrial Plan, which GreenIT approved in April 2023.
It will entail an investment of €1.7bn ($1.83bn), including capital already committed, to reach an installed capacity of 1GW.
The solar plants will generate enough electricity to supply 90,000 households and will contribute to Italy’s 2030 decarbonisation targets.
GreenIT CEO and Plenitude renewable business Italy head Paolo Bellucci stated: “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.
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By GlobalData“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.”
Galileo CEO Ingmar Wilhelm stated: “We are very pleased with this forward-looking agreement with GreenIT. The quality of the portfolio of projects developed by Galileo will find a home in GreenIT, a company with all the right characteristics to take care of its construction and operation.
“In Italy, Galileo is developing a further pipeline of onshore and offshore renewable projects accounting for a grand total of more than 2GW in the country. Efficient synergies with high-calibre partners like GreenIT can be strong propellers for the further expansion of our activities across Europe.”
In September 2023, Plenitude inaugurated the 50MW Shaulder solar plant in Kazakhstan. The plant has an annual power generation capacity of 90 gigawatt-hours and occupies 100 hectares of land close to Shaulder village in the Turkistan region.
