Elawan, R.Power JV Targets 2 GWp Italian Solar Projects

Jun 5, 2024 09:35 AM ET
  • Elawan Energy and R.Power SA join forces to develop 2 GWp of solar projects in Italy, driving the country's photovoltaic capacity expansion.

Spanish renewables developer Elawan Energy and Poland’s R.Power SA have formed a joint venture to develop a portfolio of Italian solar projects with a total capacity of 2 GWp. The partnership aims to support the further deployment of photovoltaic capacity across Italy, aligning with R.Power's international expansion strategy.

Elawan, part of Japanese group ORIX Corporation, will provide financial support for the JV, while R.Power will originate the projects, handle their development, and contribute to their funding. The duo plans to invest around EUR 150 million in the development of the portfolio, with projects to be divided between the partners during the ready-to-build phase. Elawan recently entered the Italian market by acquiring a 71.6-MW portfolio of solar projects in Apulia.

What is the capacity of the Italian solar projects developed by Elawan Energy and R.Power SA?

  • The Italian solar projects developed by Elawan Energy and R.Power SA have a total capacity of 2 GWp.
  • Elawan Energy, part of Japanese group ORIX Corporation, will provide financial support for the joint venture.
  • R.Power SA will originate the projects, handle their development, and contribute to their funding.
  • The partnership plans to invest around EUR 150 million in the development of the portfolio.
  • Projects will be divided between the partners during the ready-to-build phase.
  • Elawan recently entered the Italian market by acquiring a 71.6-MW portfolio of solar projects in Apulia.

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