Solar Ventures to develop 1GW PV portfolio in Italy, Spain

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
This new PV pipeline will represent a total investment of US$984,568,000 million in equity and debt. Image: zak zak / Flickr

Solar Ventures, an Italian PV company, is resuming operations and investments within its home sector — with the company planning to develop a portfolio of 1GW of solar power plants in Italy and Spain within the next five years.

This new PV pipeline will represent a total investment of US$984,568,000 million in equity and debt.

After selling off its 48MW portfolio of Italian projects to Sonnedix in 2016 and switching gears to focus on other regions such as the Middle East and southeast Asia, Solar Ventures has now opted to re-focus on development within Italy.

This move was made thanks to the reduction of costs for PV systems and Italy’s new National Energy Strategy — which is pushing for the development of renewables to take the place of closing coal-fired plants.

Michele Appendino, chairman and chief executive of Solar Ventures, said: “I'm particularly satisfied to note that market parity has been reached in Italy and Spain in such a short timeframe: it's a strong sign that renewables – and photovoltaics in particular – represent a real solution for the energy transition today.

“And that's even as fossil fuels continue to benefit from innumerable subsidies. In Italy alone, they amount to 14.8 billion euros a year while the International Energy Agency estimates value of global fossil-fuel consumption subsidies were $260 billion in 2016. It would be better to talk about double market parity”

Solar Ventures is currently in talks with energy companies in Italy to sign long-term PPA contracts and has already set up development activities in Italy and Spain.

Over the past 10 years, Solar Ventures has developed 500MW of projects, including 280MW in Europe, 120MW in the Middle East and 100MW in southeast Asia.

Read Next

April 9, 2021
Spanish independent power producer Opdenergy is preparing to launch an initial public offering to help fund the development of 3.7GW of renewables projects across Europe and the Americas.
April 8, 2021
Iberdrola has formed a strategic alliance with insurance company Mapfre that will initially invest in 230MW of clean energy projects in Spain, including 130MW of solar PV.
March 29, 2021
Clean energy investment platform Renewable Power Capital (RPC) has announced the creation of a new joint venture that will develop and acquire 3.4GW of solar PV in Spain.
March 18, 2021
Residents living near two towns on the east coast of Spain will soon be able to sign up to receive power from the country’s first community agrophotovoltaic projects, which are being built to help reduce local electricity bills while exploring the impact solar shading has on the cultivation of tropical fruit.
March 16, 2021
A round-up of the latest solar project news from around the world, including updates from R.Power, Grenergy Renovables and Duke Energy Florida.
March 15, 2021
Spain’s government and the EU will provide funding to support the development of 65 new solar projects in the Canary Islands by the end of next year.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 13, 2021
Solar Media Events
April 20, 2021
Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET