Neoen has initiated the construction of its initial three renewable energy ventures in Italy. These solar facilities, boasting a total capacity of 24.7MW, are situated in Lombardy (8MW and 7.6MW) and Marche (9.1MW). Neoen, having overseen the project development, will maintain full ownership, while the construction contract has been granted to Intec Energy Solutions, a solar EPC system provider. The anticipated commissioning of these solar plants is set for early 2025.
As part of Neoen’s strategy, a significant proportion of the electricity generated, along with guarantees of origin, will be contracted through power purchase agreements, while the remaining portion will be sold on the Italian electricity market. These solar farms align with the government’s objective of achieving a 40% coverage of electricity consumption through renewable energy sources by 2030.
Neoen aims to establish itself as a key player in Italy, contributing significantly to the country’s renewable energy development. Since its inception in 2021, Neoen’s expanding team, located in Brescia, Modena, and Rome, is actively engaged in the development of various solar and storage projects. Notably, the strategic placement of Neoen’s solar projects in government-selected areas facilitates expedited development, with projects advancing to the construction stage within 12 to 16 months.
Neoen Italy’s Director of Project Development, Daniele Lucchi, said “With a portfolio of more than 50 projects already under development across five different regions, we have the ambition to rapidly expand our presence in Italy. We are proud at the prospect of generating clean energy to support the decarbonisation of our country.”
Neoen’s Chairman and Chief Executive Officer, Xavier Barbaro, said “Our Italian office opened its doors in December 2021 and these projects were developed in under 24 months, a record time.”
“I congratulate the team for such a fast execution. The Neoen Way – which is based on the development of our own projects to own and operate our assets on the long term – distinguishes us from our competitors.”
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