Elawan Energy, a company in the renewable energy sector, has unveiled the formation of a joint venture with R.Power Investment to undertake the development of 2.0 GW of solar projects in Italy. This agreement has been supported by the law firms Watson Farley & Williams and DLA Piper.
Pedro García Crespo, the company’s Chief Investment Officer, said that this Joint Venture represents a significant step forward in the company’s global expansion and supports its objective of increasing its presence in the Italian market.
Elawan Energy and R. Power Investment in Italy
The projects included in this joint venture are in early stages of development and are expected to reach a total installed capacity of up to 2.0 GW. These projects will be ready for construction over a six-year period, culminating in 2030.
The initiatives will be distributed across various regions of Italy, such as Basilicata, Lazio, Sardinia and Sicily, with individual capacities ranging from over 8 MWp (medium) to over 40 MWp (large).
In addition, Elawan Energy believes that the Italian market is very attractive for renewable energy investments due to its ambitious decarbonization plan. The company, of Spanish origin, began operations in Italy in January 2023 through the acquisition of two solar photovoltaic projects in Italy. solar photovoltaic projects projects in the development phase from a local developer.
These projects are located in the Apulia region of southern Italy and are expected to come on line in 2025, with capacities of 20.4 MW and 51.2 MW, respectively.
Elawan Energy reliability for solar projects in Italy
It is important to note that Elawan Energy is part of the ORIX group and operates globally in the renewable energy sector, providing comprehensive solutions throughout the life cycle of wind and photovoltaic projects, from promotion and development to construction, operation, maintenance and sale of the energy generated.
It currently operates 54 wind farms in production in nine countries, with more than 1.80 GW in operation, 234 MW under construction and more than 8.5 GW in various stages of development.
On the other hand, R.Power is a fast-growing European company specialized in the development, design, construction and maintenance of photovoltaic power plants. large-scale photovoltaic power plants. large-scale photovoltaic power plants. Its portfolio includes 9.9 GWp of projects under development and 661 MWp of solar plants built or under construction.
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Source: elawan
Photo: Shutterstock
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