R Power, a European solar developer, has joined forces with Elawan Energy, a subsidiary of the Orix Group, to accelerate the development of solar projects in Italy. The strategic partnership aims to establish a robust portfolio exceeding 2GW of solar projects in the country.
Under the agreement, the projects will be evenly split between R Power and Elawan Energy, each taking on projects at the ready-to-build stage. Elawan Energy will provide financial backing for the ventures, while R Power will lead in project origination, development, and will partially finance the development expenses.
Klaudiusz Kalisz, a member of R Power's board, expressed enthusiasm about the collaboration, stating, “We are pleased to enter into this joint venture with Elawan Energy, which represents a pivotal step in our strategy to become one of the leaders on the Italian RES market.” He added, “Partnering with Elawan enhances our international market presence and marks a significant milestone in our Italian operations. We look forward to furthering this cooperation and making a substantial impact on the Italian market, contributing to a greener and more sustainable future.”
