GreenIT, a joint venture between Eni subsidiary Plenitude and CDP Equity, has struck an agreement with Galileo to develop eight solar projects across Italy. The projects, which are spread over three regions in the country’s south, centre, and north, will have a combined capacity of 140 MW. The 2023–2027 Industrial Plan, which GreenIT approved in April 2023, outlines the start of the plants’ operating phase.
It will entail an investment of $1.83 billion, including capital already committed, to reach an installed capacity of 1 GW. The solar plants will generate enough electricity to supply 90,000 households and will contribute to Italy’s 2030 decarbonisation targets. GreenIT was founded in 2021 by ENI and CDP Equity with the goal of deploying 1 GW of renewables in the country by 2025 and with an initial investment of more than $874 million.
In February 2023, Galileo and Hope Group formed a joint venture (JV) to develop the offshore wind farm in Italy’s Adriatic Sea. The JV would construct the 1.1 GW floating wind plant, known as Barium Bay, 40 km off the coast, stretching from Barium to the north of Barletta.
