View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
March 12, 2021

Eni and CDP Equity to develop renewable energy assets in Italy

Italian oil company Eni and CDP Equity have established a joint venture to develop 1GW of renewables in the country by 2025.

By Umesh Ellichipuram

Italian oil company Eni and CDP Equity have established a joint venture to develop 1GW of renewables in the country by 2025.

Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

The GreenIT joint venture will develop, construct and manage renewable power plants in the country.

These will come from several types of development, including new plants, repowering of existing plants, and enhancement of the real estate owned by the CDP Group.

GreenIT intends to make a cumulative investment of more than $953m (€800m) over the next five years. The company will primarily focus on photovoltaic and wind power plants.

CDP Equity CEO and CDP chief investment officer Pierpaolo Di Stefano said: “The birth of GreenIT is the realisation of a further project envisaged by the business plan of CDP to aid the energy transition and contrast climate change, contributing to the achievement of the sustainable development goals of the United Nations 2030 Agenda.

“The collaboration with Eni will make it possible to work,  from a system perspective, on the development of projects with positive impacts on the territories for the production of energy from renewable sources, in order to build a model increasingly geared towards sustainability and support the country in achieving the targets defined by the Integrated National Energy and Climate Plan.”’

Eni owns a 51% stake in GreenIT, while the remaining 49% stake is held by CDP Equity.

Eni Energy Evolution general manager Giuseppe Ricci said: “This new joint venture is part of Eni’s strategy for the energy transition and contributes to the acceleration of our transformation process towards green energy and renewable sources.

Related Companies

Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Power Technology