GreenIT supports the development of four photovoltaic projects in Italy

The joint venture between Plenitude and CDP Equity continues to expand through new plants with a total capacity of up to 200 MW. The photovoltaic farms are set to be built in Apulia, Sicily, and Lazio using agri-voltaic technology.

GreenIT - the Italian joint venture set up in 2021, owned by Plenitude (Eni, 51%) and CDP Equity (CDP Group, 49%), operating in the production of electricity from renewable sources, has signed an agreement with Hive Energy Limited and SunLeonard Energy Limited to support the development of four photovoltaic projects with a total capacity of up to 200 MW.

The new sites will be developed in Apulia, Sicily, and Lazio using agri-voltaic technology, which involves installing raised structures to achieve synergy between agriculture and the production of renewable energy.

The estimated timeline for the obtainment of authorisations and subsequent start-up of the projects is outlined in the 2023-2027 Business Plan approved by GreenIT last April. It involves a total investment of €1.7 billion (including capital already committed) with the goal of reaching 1,000 MW of installed capacity.

Once operational, these agri-voltaic parks are expected to cover the electricity consumption of around 150,000 households¹, thus contributing to the decarbonization targets set out in the 2030 National Integrated Energy and Climate Plan.

The initiative is in line with GreenIT's strategy, which includes developing both offshore and onshore greenfield plants, implementing projects that have already been authorised, and repowering existing operating plants at the end of their useful life to extend and enhance production capacity.

¹_{Calculation based on the estimated average annual electricity consumption of an Italian residential customer of 2000 KWh per year, according to data published by Arera in its 2021 Annual Report.}