Iren grabs 2 Italian solar projects

• Schemes gotten from European Energy have actually a combined capacity of 38.87 MWp.

Iren, with the subsidiary Iren Green Generation, has actually signed an agreement with European Energy to acquire two ready-to-build solar projects in Italy.

Both photovoltaic or pv plants will certainly have an integrated capacity of 38.87 MWp as well as will be found in the municipality of Tuscania.

This offer is part of the commercial agreement, checked in January 2022, which develops a collaboration between European Energy as well as Iren on a pipe of 437.5 MWp of photovoltaic projects in Italy.

The value of the shares obtained by Iren in both SPVs (owners of consents) is EUR4.1 m euros.

The procedure is carried out with the membership of a capital rise entirely dedicated to Iren.

The plants, once in operation thanks to an added investment of EUR31m, will certainly generate an overall average EBITDA expected in the next 3 years of roughly EUR6.6 m annually thanks to an expected annual production of 60 GWh.

Iren president Luca Dal Fabbro claimed: "Developing brand-new renewable capacity is not just an industrial purpose for Iren but it assumes a nationwide tactical value, a lot more so today in the facility context of crisis we are experiencing and also to deal with which renewable resources are validated as a vital part of the remedy in the medium-long term and also to make certain energy safety and security and competition.".