italy

A new policy in Italy that claws back the profits of solar PV projects will undermine investor confidence and jeopardise the European Union’s clean energy transition, a group of trade associations, including SolarPower Europe, has warned.

Solar is booming across Europe, producing 27% more power last year than in 2019, according to new analysis from energy thinktank Ember.

Italy has allocated 975MW of solar PV and wind capacity in its seventh renewables auction, according to figures from energy management agency GSE.

Greek industrial group Mytilineos said its renewables and storage unit continues with “full speed” to invest in solar and battery energy storage systems globally following a 2021 that saw the business expand its PV engineering, procurement and construction (EPC) operations.

Italy’s government will limit the windfall profits of some feed-in tariff-backed solar PV projects that have been able to benefit from rising energy prices.

Energy major Shell has acquired 100% of PV project developer Solar-Konzept Italia (SKI), taking its solar development pipeline in Italy to around 2GW in the process.

Spanish solar company Soltec Power Holdings, through its subsidiary Powertis, has sold a controlling stake in 421MW of its solar PV projects and 90MW of energy storage in Italy to German investment firm Aquila Capital under a co-development agreement.

Renewable power purchase agreement (PPA) prices in Europe continue to climb, rising 7.8% quarter-on-quarter in response to the continent’s deepening energy crisis, according to new research from  LevelTen Energy, a provider of renewable transaction infrastructure.

European solar investor NextEnergy Capital (NEC) has sold a 150MW portfolio of Italian solar assets to Rome-headquartered investment group Tages.

Tech major Amazon has added a further 2GW to its committed utility-scale solar PV capacity, adding projects in the US and Europe to its renewables portfolio.