In 2020, wind-generated electricity accounted for 7% of Italy’s total energy demand. In order to achieve the country’s national energy and climate plan (NECP), significant growth in the wind market will be required to reach 30% of energy sourced from renewable energy by 2030. Additionally, the NECP target is to produce 19.3GW of wind energy by 2030, which will require a growth of 1GW per year until the year 2030. Italy’s ambitious goals coupled with the high potential for wind development makes the country an attractive proposition for potential investors. Therefore, it is no surprise that several of the key European and global players in wind energy have staked a foothold in the Italian market.
1) Copenhagen Infrastructure Partners (Denmark)
In April 2022, the Danish investment group announced their acquisition of a 750MW offshore Italian project. CIP partnered with GreenIT to fund the wind farms which will be developed with the aid of Lilybeo Wind Power, Nice Technology, and 7 Seas Wind. The two projects are located in Sicily and Sardinia, using innovative floating offshore wind technologies. The projects are due to become operational in 2026 (Sicily) and 2028 (Sardinia), once fully installed the two farms will produce enough energy to supply 750,000 Italian households.
2) Eni and CDP Equity (Italy)
In September 2021, Eni and CDP Equity announced their joint venture GreenIT which was formed to invest in renewable energy projects. The joint venture aims to gather a 1GW portfolio by 2025 and invest €800m over a 5-year period. In March 2022, the JV announced the acquisition of a 110MW Italian wind portfolio. The wind farms were purchased from Fortore Energia Group. The portfolio consists of 4 wind farms and 55 turbines all located in Puglia, an area with high potential for wind development.
3) Cubico Sustainable Investments (UK)
The London-based group has invested in over 170 renewable projects and has a renewable energy portfolio in the excess of 3GW. The green energy investment group have a strong presence in the Italian wind market. To date, Cubico has an installed Italian wind capacity of 250MW. Their last investment in the country was the addition of two projects with an installed capacity of 16MW. The two projects are located in Campania and Apulia, the farms were both purchased from Blunova.
Image Source Unsplash 15.05.22
