To design and construct a 500MW solar portfolio in Italy, the renewable energy company Green Genius and Eiffel Transition Infrastructure, led by Eiffel Investment Group, have formed a joint venture.
Eiffel will make an initial investment of up to €15 million to assist the growth of the portfolio, with additional money set aside for supporting projects during the building phase.
Since 2019, Green Genius and Eiffel Investment Group have collaborated on photovoltaic projects in Poland, Italy, and Spain.
By means of this new agreement, Green Genius will advance 500MW of projects in Italy, mostly in Puglia and Sardinia, to the permitting stage, and Eiffel will finance this crucial time period to acquire the required permits and authorisations through equity financing.
Green Genius will be in charge of the development until the projects are prepared for construction.
After that, construction is anticipated to begin by the end of 2023.
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