Spanish renewables developer Elawan Energy and Poland’s R.Power SA have set up a joint venture targeting to develop a portfolio of Italian solar projects to add 2 GWp of power generation capacity.
The partnership aims to support the further deployment of photovoltaic (PV) capacity across Italy, R.Power said on Friday. The Polish power producer explained that the initiative is aligned with the group’s international expansion.
Madrid-based Elawan, part of Japanese group ORIX Corporation will be a financial partner in the JV, while R.Power will originate the projects and take care of their development and partial funding. Overall, the duo plans to spend roughly EUR 150 million (USD 163.2m) on the development of the portfolio. The projects are to be distributed between the partners during the ready-to-build phase.
Elawan stepped on the Italian market early in 2023 by acquiring a 71.6-MW portfolio of solar projects under construction in the country’s southern region of Apulia.
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