Plenitude and CDP Equity's joint venture, GreenIT, has inked a deal with Galileo for eight solar projects totaling 140MW across Southern, Central, and Northern Italy. The operational phase for these plants is set to commence between 2023 and 2027 as per GreenIT's Industrial Plan approved in April 2023. The plan outlines a total investment of €1.7bn, inclusive of committed capital, with the objective of achieving a 1000MW installed capacity.
Aligned with GreenIT's strategy, the initiative encompasses the development of greenfield plants, authorized projects' construction, and the repowering of operational plants at the end of their life cycle. Additionally, the company is committed to advancing offshore wind projects.
See also: Simply Blue Group and Plenitude Collaborate to Develop Floating Offshore Wind Projects in Italy
Established in 2021, GreenIT is an Italian renewable energy joint venture with 51% ownership by Plenitude (Eni) and 49% ownership by CDP Equity (CDP Group).
Paolo Bellucci, CEO of GreenIT and Head of Renewable Business Italy at Plenitude, expressed enthusiasm about the agreement with Galileo. Bellucci highlighted Galileo's internationally recognized expertise and its contribution to advancing technologically advanced projects within GreenIT's portfolio.
Ingmar Wilhelm, CEO of Galileo, echoed the positive sentiments, emphasizing the forward-looking nature of the agreement. He stated that Galileo's project portfolio aligns seamlessly with GreenIT's capabilities in construction and operation. Galileo is concurrently developing a pipeline of onshore and offshore renewable projects in Italy, exceeding 2000MW. Wilhelm underscored the potential for robust synergies with esteemed partners like GreenIT to fuel further expansion across Europe.
