The purpose of forming the joint venture (JV) partnership is to bolster R.Power's pipeline development in Italy over the next five years. The JV aims to develop 2 GW of projects, which will be equally distributed at the RtB stage between R.Power and Elawan Energy. Elawan Energy will serve as the financial partner, while R.Power will manage project origination, development, and partially finance the development expenses.
Klaudiusz Kalisz, a member of R.Power's board, said: "We are pleased to enter into this joint venture with Elawan Energy, which represents a pivotal step in our strategy to become one of the leaders on the Italian RES market. Partnering with Elawan enhances our international market presence and marks a significant milestone in our Italian operations.”
How do the planned restrictions in Italy affect the plans?
This is another international investment by R.Power in recent days. The company recently announced the energization of its first photovoltaic farm in Portugal. R.Power intends to commission new projects in Portugal and Romania in the coming months.
It remains to be seen to what extent the planned far-reaching restrictions on solar parks on agricultural land in Italy will affect the plans of R.Power and Elawan.Energy. The companies also did not announce whether the planned PV projects are ground-mounted or large rooftop installations. (hcn)
