IPP-investor duo to deploy 120MWp-plus subsidy-free solar portfolio in Italy

October 11, 2019
Facebook
Twitter
LinkedIn
Reddit
Email
Image credit: Angelo Amboldi / Flickr

Europe’s second largest solar market has marked a subsidy-free boost this week, with two players joining forces to deploy a pipeline in a country where PV growth was muted for years.

On Friday, Italian IPP Solar Ventures and private equity house Zouk Capital unveiled a deal to develop a portfolio of unsubsidised solar, starting with an initial push of about 120MWp.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

In a statement, the duo explained the projects they are both funding are in the “mid-development stage” and will not be supported by feed-in tariffs (FiTs) or any other form of government money.

Instead, Solar Ventures and Zouk Capital said, the PV portfolio will secure revenues by selling its output to commercial clients under private purchase agreements (PPAs).

Contacted by PV Tech, the firms declined to shed light on the location for the initial 120MWp, nor how the planned capacity will split across individual projects.

Approached today, the duo did not clarify either whether PPA talks have begun or concluded, adding they will share the information when “they are in a position to”. 

Subsidy relaunch puts Italy back on clean energy map

In Italy, the signs of a solar revival have multiplied over the past few months, marking a brighter turn of events after years when deployment tanked as subsidies were withdrawn.

IRENA stats show the country’s industry initially surged – from 1.2GW in 2009 to 16.78GW in 2012 – but then froze in the 18GW-19GW region over the six following years after the phase-out of FiTs.

The reboot of government support has seen the Southern European enter the spotlight again, with renewables set to reap €5.4 billion (US$6 billion) in incentives from new auctions starting this year.

At a recent Italy-focused session in London, many local and foreign operators appeared skeptical about the value of subsidies, urging the government instead to support free-market solar.

The PPA boom witnessed in Southern neighbour Spain will be slower in coming to Italy, several speakers agreed at the debate, attended by PV Tech.

This week’s unsubsidised project is not Italy’s first, however. Last December, Octopus bagged a PPA for a zero-subsidy 63MW pipeline with energy trader offtaker EGO Group.

The prospects and challenges of solar's new era in Europe and beyond will take centre stage at Solar Media's Solar Finance & Investment Europe (London, 5-6 February) and Large Scale Solar Europe 2020 (Lisbon, on 31 March-1 April 2020).

2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

October 16, 2025
Masdar and Turkey have entered the final stage of US$1 billion agreement to develop the 1.1GW plant in Bor, Niğde Province, central Turkey.
October 16, 2025
US utility-scale solar additions grew by 56% in 2024, reaching 30GW from 2023’s 19GW and representing over 54% of all new electricity generation capacity added in the country last year.
October 16, 2025
Jakson Green and Blueleaf Energy have reached financial close for the 840MWp Bikaner solar projects in Rajasthan, western India. 
October 16, 2025
Off-grid solar company Sun King has revealed plans to set up manufacturing operations in Kenya and Nigeria.
October 15, 2025
Wood Mackenzie has warned of a supply bottleneck as the renewable energy shift drives a spike in global copper demand over the next decade.
October 15, 2025
A report by IRENA and others has highlighted the need for yearly renewable energy deployments to almost double between now and 2030.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK