Juwi takes managing risk in Italian solar designer GEMdev

• German renewables programmer Juwi AG said today it has actually obtained a majority stake in Italy-based GEMdev SrL, a green area solar designer targeting to build a project pipeline of 700 MW in the following five years.

Juwi Energie Rinnovabili Srl has come to be the proprietor of 70% of GEMdev's stock in an offer that straightens with its parent's strategy to grow its service and also additional increase its solar portfolio in the Mediterranean country. The value of the acquisition was not revealed.

Milan-based GEMdev is concentrated on the growth of standard solar as well as agrivoltaic projects in the North of Italy.

"The Italian PV-market is possibly one of one of the most interesting as well as promising markets in Europe now as it supplies numerous service chances from private PPAs to direct-wire offtakes," stated Daniele Moriconi, taking care of director of Juwi Energie Rinnovabili.

Because its market entry in Italy in 2007, Juwi has implemented greater than 85 MW of renewable energy projects in Italy and also has a pipeline of projects amounting to about 350 MW. The business additionally runs over 30 MW of assets for third parties.