The Italian Government has announced an investment of €90m ($97m) in Enel‘s 3Sun solar photovoltaic panel factory in Sicily, Italy, Reuters has reported.
Italian Prime Minister Giorgia Meloni visited the 3Sun plant in the Sicilian city of Catania on Saturday 3 February.
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She was quoted by Reuters as saying: “There are €90m for this project from the National Recovery and Resilience Plan, which will allow the current factory to strengthen itself and for a further new production line to be established.
“Our bet is for Catania to become one of the most important hubs in solar panel production.”
The investment is part of the country’s strategy to enhance renewable energy sources and reduce reliance on imported gas.
The Sicilian factory currently has a production capacity of 200MW per year and will reach 3GW by the end of 2024.
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By GlobalDataThe expansion represents a six-month delay from Enel’s initial announcement in 2022.
The expansion is a response to the EU’s push for a swift transition to renewable energy and independence from Russian gas imports.
Meloni, who assumed office in October 2022, has committed to promoting renewable energy, particularly in southern Italy, to address long-standing regional economic challenges.
The expansion of the 3Sun plant is expected to create 700 new jobs by the end of 2024, with an additional 1,000 jobs generated indirectly through partnerships with local companies.
Meloni added: “We want and we need to be competitive in this sector compared to Asian players.”
In January 2024, Enel secured a €560m financial package to enhance the factory’s capacity.
The funding was facilitated by the European Investment Bank with support from InvestEU and a consortium of Italian banks including UniCredit, BPER Banca and Banco BPM.
Enel is engaging with potential investors to explore the sale of a stake of up to 50% in the factory.
