Elawan Energy to Develop 2.0 GW of Photovoltaic Projects in Italy

Elawan Energy, a global player in the renewable energy sector, has announced the creation of a joint venture with R.Power Investment (“R.Power”) to develop 2.0 GW of photovoltaic projects in Italy. The operation was assisted by the law firms Watson Farley & Williams and DLA Piper.

“This Joint Venture is an important step in our global expansion and contributes to our goal of growing in the Italian market,” stated Pedro García Crespo, Chief Investment Officer of Elawan Energy.

Specifically, the projects in the joint venture’s portfolio, all currently in an early development stage (greenfield), will have a total installed capacity of up to 2.0 GW and are expected to be ready for construction (ready-to-build) over the next 6 years, until 2030. The projects are distributed throughout Italy, including regions such as Basilicata, Lazio, Sardinia, and Sicily, with individual capacities ranging from over 8 MWp (medium) to over 40 MWp (large).

For Elawan Energy, the Italian market is attractive for renewable energy investments due to the country’s ambitious decarbonization plan. The Spanish group began its activities in Italy in January 2023 with the acquisition of two photovoltaic solar projects in the development phase from a local developer. The projects are located in the Apulia region in southern Italy. Once operational, scheduled for 2025, the two plants will have capacities of 20.4 MW and 51.2 MW, respectively.

Elawan Energy is part of the ORIX group and a global renewable energy operator that offers integrated solutions throughout the lifecycle of wind and photovoltaic projects, from promotion, development, and construction to operation, maintenance, and sale of the produced energy.

Currently, the company has 54 parks in production in 9 countries, more than 1.80 GW in operation, 234 MW under construction, and more than 8.5 GW in various stages of development.

R.Power is a fast-growing European company specializing in the development, design, construction, and maintenance of large-scale photovoltaic power plants. Its portfolio comprises 9.9 GWp of projects under development and 661 MWp of constructed or under-construction solar plants.