For this new joint venture, investments of more than €800 million are expected over five years
Creating a system by involving central players in the Italian corporate landscape to make an effective contribution to the country's energy transition. This is at the heart of the agreement between Eni and CDP Equity, which launched GreenIT, a new joint venture for the development, construction and management of plants that produce energy from renewable sources.
The new company, 51% owned by Eni and 49% by CDP Equity, will rely mainly on photovoltaic and wind power plants to reach an installed capacity of around 1,000 MW by 2025. Cumulative investments of around €800 million are planned over the next five years.
The funds will be used for targeted and differentiated projects that include, on one hand, the development and construction of greenfield facilities – built in disused or underutilised areas – and the development of the real estate assets of the CDP Group and the public administration. On the other hand, the repowering of existing plants at the end of their useful life, which involves replacing obsolete or inefficient machinery and components with newer versions with better energy performance, together with the implementation of approved projects.
The establishment of GreenIT is one of the projects envisaged in Cassa Depositi e Prestiti's 2019-21 Business Plan and in the strategy aimed at supporting the country's energy transition by increasing energy production from renewable sources, in line with the objectives set out in the 2030 National Integrated Energy and Climate Plan.