GreenGo has unveiled plans to develop approximately 1,300 megawatts (MW) of new renewable energy projects in Italy, with the company retaining full ownership of the assets.
The initiative, announced by GreenGo Chief Executive Giuseppe Mastropieri, will include a diverse mix of energy sources. The pipeline comprises around 880 MW of agri-voltaic projects, complemented by wind energy, traditional photovoltaics, and approximately 300 MW of battery storage.
Founded in 2018, GreenGo has expanded its portfolio with recent investments, including a €22 million contribution from the Eiffel Fund between 2022 and 2023. The company concluded 2023 with approximately €7 million in revenues.
Among GreenGo's recent developments is a 10-year energy supply agreement with Sasol Italy Spa, the Italian subsidiary of South African chemical giant Sasol, which operates three production sites in Italy.
The announcement was made at GreenGo's headquarters in Bologna, where Mastropieri was joined by Anna Lisa Boni, Councillor for the 2030 Climate Mission of the Municipality of Bologna, and Raffaele Oriani, Rector of the Luiss Business School and Professor of Corporate Finance at LUISS Guido Carli.
Mastropieri highlighted the company's commitment to sustainability, stating, “We are betting on an innovative agri-voltaic formula that is highly sustainable because panels reduce the water requirements of crops and mitigation helps the development of biodiversity.”
The company plans to begin construction on 200 MW of plants, marking the initial phase of a roadmap that aims to build around 80 plants, including both production and storage facilities, by 2029. GreenGo expects to generate approximately 2.8 gigawatt-hours (GWh) of clean energy by 2029, with 2 GWh coming from plants wholly owned and operated by the company.
The development will include 13 plants in Emilia-Romagna, with each plant producing 170 MW. Five of these plants will be located in the province of Bologna, including Budrio, Sala Bolognese, and San Giovanni in Persiceto.
The investment plan, projected to exceed €300 million by 2026, aims to develop more than 200 MW of proprietary plants and significantly involve local companies. The new projects are expected to create approximately 450 jobs in Italy.
