- Intesa Sanpaolo is investing €33M in Greengo’s solar projects.
- This investment supports the construction of eight solar panels with a capacity of 41.8 MW.
- The projects are located in Calabria, Sicily and the Marche and should be operational by mid-2025.
- GreenGo aims to invest more than €300M by 2026 and create 500 jobs in the renewable energy sector.
Italian renewable energy company GreenGo has secured a 33 million euro investment from Intesa Sanpaolo to help build eight solar projects across Italy. This financing is part of the Bank’s wider strategy, which includes an €8 billion fund dedicated to supporting the National Recovery and Recovery Program (PNRR), to transition to a circular economy
Also read: UK Solar Industry Needs Circular Economy for Net Zero
With a €33 million investment, GreenGo will be able to build eight solar panels with a combined capacity of 41.8 megawatts (MW). The projects will be in three locations: four plants in Calabria (22.8 MW), three in Sicily (13.7 MW), and one in Marche (5.3 MW).
This budget uses European Union (EU) resources allocated to Italy, in addition to private investment, solar projects to boost the country’s renewable energy system will include a mixed trade a including corporate power purchase agreements (PPAs) with Sasol Italy (47%) . , incentive costs from GSE (17%) 6 %) and contains plant-based. These facilities are already under construction and are expected to be operational in the first half of 2025.
Completed through the Intesa Sanpaolo Banca dei Territori division of IMI Corporate & Investment Banking Division and the Corporate Finance Mid Cap program the Intesa Sanpaolo Innovation Center Roundtable focuses on innovation and owes circular finance principles – part of its activity to structure the bank’s €8 billion portfolio of notes.
GreenGo has an ambitious plan, targeting more than €300 million in investments by 2026. The company aims to expand solar, wind and storage equipment capacity by more than 350MW These renewable infrastructure developments will provide more than 500 jobs have been created. The energy mill will contribute This positions GreenGo as a key player in the Italian energy transformation.
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Greengo CEO Giuseppe Mastropieri said, “This transaction marks the beginning of a new phase for Greengo as an independent power producer (IPP). In addition to the initial investment of 42 MW, we now begin construction of an additional 40 MW of solar capacity to bolster our installed capacity before 2025, a key year expected by our platform to achieve a minimum target of 250 MW in new permitted green projects. ” so far .
With a €33 million investment from Intesa Sanpaolo, GreenGo is set to significantly scale up its solar projects. This development not only increases renewable energy capacity in Italy, but also creates job opportunities and contributes to the country’s ambitious energy transformation goals.
