Blue Elephant, Green Future create 119-MWp solar partnership in Italy

• German renewables firm Blue Elephant Power AG has actually tied up with Italian solar project designer Green Future Srl to jointly service the growth of a 119-MWp photovoltaic or pv (PV) portfolio in Italy.

The partners have signed a joint advancement arrangement, intending to relocate the systems ahead so as to get to shovel-ready condition by the end of 2022, the Hamburg-based wind and solar plant operator stated on Thursday.

The portfolio that the duo will certainly team up on consists of six projects in Sicily. As soon as operational, the plants will be capable of generating adequate electrical energy of around 78,000 homes a year as well as balanced out about 87,000 tonnes of co2 (CO2) exhausts, the business estimate.

"Because of very affordable project advancement costs in mix with an especially eye-catching PPA market and also electricity price environment, we will certainly have the ability to increase our existing portfolio at very appealing conditions," stated Tim Kallas, chief financial investment policeman of Blue Elephant. He added that several of the landowners associated with the six systems are already partnering the German company in existing projects.

Blue Elephant, which generally focuses on nations in Western Europe, has 1.104 MW of solar and also wind assets in operation and also unfinished in its portfolio.