Neoen has officially commenced construction on its inaugural trio of renewable energy projects in Italy. The three solar farms, boasting a combined capacity of 24.7MW, are strategically located in Lombardy (8MW and 7.6MW) and Marche (9.1MW).
Having spearheaded the development of these projects, Neoen retains full ownership, emphasizing its commitment to the Italian renewable energy landscape. The turnkey contract for construction has been awarded to solar EPC system provider Intec Energy Solutions, with the commissioning of the solar plants slated for early 2025.
Neoen's overarching strategy involves contracting a substantial portion of the electricity generated by these assets, along with guarantees of origin, through power purchase agreements. The remaining output will be introduced to Italy's electricity market.
These solar farms align with Italy's governmental target of achieving 40% of electricity consumption covered by renewable energy plants by 2030, marking a significant contribution to the nation's decarbonization efforts.
Expressing enthusiasm about the venture, Daniele Lucchi, Neoen Italy's Director of Project Development, stated, “With a portfolio of more than 50 projects already under development across five different regions, we have the ambition to rapidly expand our presence in Italy. We are proud at the prospect of generating clean energy to support the decarbonisation of our country.”
Xavier Barbaro, Neoen's Chairman and Chief Executive Officer, acknowledged the rapid execution of the projects, developed in under 24 months since the opening of Neoen's Italian office in December 2021. He remarked, “The Neoen Way – which is based on the development of our own projects to own and operate our assets on the long term – distinguishes us from our competitors.”