140MW Italian PV Deal Signed by GreenIT, Galileo

• GreenIT, a joint venture of Plenitude and CDP Equity, has signed an agreement with Galileo for 8 solar projects totaling 140MW in Italy. This €1.7bn Industrial Plan will contribute to GreenIT's portfolio and enable Galileo's European expansion.

GreenIT, a joint venture between Plenitude and CDP Equity, has signed an agreement with Galileo for eight solar projects in Southern, Central and Northern Italy totalling 140MW to come into operation between 2023 and 2027. The agreement is part of GreenIT's €1.7bn Industrial Plan, aiming for an installed capacity of 1000MW. According to Paolo Bellucci, CEO of GreenIT, this agreement will contribute to the development of GreenIT's portfolio. Similarly, Ingmar Wilhelm, CEO of Galileo, looks forward to the synergies with GreenIT and their further expansion of activities across Europe.

What Are the Benefits of GreenIT's €1.7bn Industrial Plan?

• Increased energy security: GreenIT's €1.7bn Industrial Plan will help diversify energy sources and increase energy security in the areas of Italy where it is implemented.
• Clean energy production: By installing solar projects across Italy, GreenIT's plan will reduce dependence on fossil fuels and contribute to the production of clean energy.
• Job creation: The plan will create new job opportunities in the local area, providing a much-needed economic boost.
• Improved air quality: Solar projects will lead to a reduction in the emissions of pollution-causing gases, leading to improved air quality and better overall health in the region.
• Reduced energy costs: By investing in renewable energy sources, GreenIT's plan will help to reduce energy costs for both households and businesses.
• Increased market competition: The plan will bring greater competition to the Italian energy market, driving down prices and improving services.