Swiss-headquartered asset investment firm Capital Dynamics has acquired 170MW of ready-to-build solar PV capacity in Italy for an undisclosed sum and from an unnamed global energy service provider.
Located in Sicily, the capacity is split over two projects forecast to generate 324GWh of power annually. Capital Dynamics said that the projects had long-term power purchase agreements in place, but did not specify the off-takers, the capacity breakdown of the two sites.
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Dario Bertagna, co-head of Capital Dynamics Clean Energy said: “Thanks to this additional acquisition, our Italian subsidy-free footprint increases to over 500 MW, demonstrating our commitment to being a major supporter of Italy’s energy transition.
“[Italy] remains one of the most exciting solar market in Europe,” he continued.
PV Tech Premium published data findings earlier this week showing that Italy could be on track to deploy 4GW of new solar PV by the end of 2023, after installing over 2.3GW in the first half of the year alone. Italy updated its National Energy and Climate Plan (NECP) earlier this year – along with many other European countries – with an aim to reach 65% renewables penetration in its electricity mix by 2030.
Sicily and the south of Italy is home to the majority of the country’s utility-scale solar deployments, whilst rooftop solar is concentrated in the – generally – more affluent north. In July, Ingka Group – the owner of IKEA – bought a minority stake in a 460MWp solar portfolio across the southern regions of Sicily, Puglia and Sardinia, as well as some in Veneto and Molise.
Renewables developer European Energy also owns Italy’s ‘largest’ single solar farm, a 250MW project, in Catania, Sicily. Catania is also home to Enel 3Sun’s 3GW module manufacturing facility.