Visit windpowermonthlyevents.com for the latest on our upcoming conferences and webcasts

Italy

Italy

Portugal's EDP Renovaveis gets foothold in Italy with 520MW portfolio

ITALY: EDP Renovaveis (EDPR) has entered Italy's booming wind market, acquiring a 85% stake in Italian Wind Srl, the owner of a 520 MW project portfolio.

EDPR’s Cadafaz wind farm in its home market of Portugal.   With the acquisition  of an Italian wind portfolio, the group is now also active in nine foreign countries.
EDPR’s Cadafaz wind farm in its home market of Portugal. With the acquisition of an Italian wind portfolio, the group is now also active in nine foreign countries.

The renewable energy unit of Portuguese utility EDP acquired the stake from Energia e Natura, a subsidiary of the Italian industrial conglomerate Co-ver Group, for EUR 12 million.  Additional payments will be made when project milestones are reached.

"With this agreement, Energia e Natura essentially becomes the Italian branch of EDPR," explained Fabio Mottura, a business developer with Energia e Natura.  

While the current project pipeline is entirely in Apulia, other regions in southern and central Italy are expected to be on the group’s radar for wind, Mottura said.  

EDPR classifies four Italian projects with combined capacity of 108 MW, as 'Tier 2' with another 98 MW classified as 'Tier 3' and the remainder as 'prospects'.   EDPR assigns 'Tier 1', or ready-to-build, status to projects with all authorizations and a minimum two years of wind data.  

EDPR is the latest of a string of foreign utilities to be attracted by Italy’s high incentive prices and strong growth rate for wind.  The UK’s International Power, German utilities RWE and E.on, France’s EDF, Spain’s Iberdrola and Switzerland’s Alpiq are among those active. 

For the Portuguese firm, the deal brings to ten the number of countries in which it operates.  EDPR says its geographical diversification strategy should help ensure sustainable and profitable long-term growth.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Windpower Monthly Events

Search more than 4,500 companies in the Windpower Directory

Latest Jobs

  • Senior Geotechnical Engineer Senior Geotechnical Engineer Peritus Green South East England / East Sussex / Kent / London (Greater) / Surrey

  • Wind Asset Analyst Wind Asset Analyst The Natural Power Consultants Limited Scotland / Stirling

  • Wind Farm Manager Wind Farm Manager The Natural Power Consultants Limited South East England / Chelmsford, Essex