GreenIT and Copenhagen Infrastructure to Develop Three 2 GW Offshore Wind Farms

GreenIT, the joint venture between Plenitude and CDP Equity for the production of energy from renewable sources, has signed an agreement with Copenhagen Infrastructure Partners (CIP) to develop three floating offshore wind farms in Lazio and Sardinia, all located about 30 km off the coast for a total capacity of nearly 2 GW.

In detail, the wind farm in Lazio will be developed off the coast of Civitavecchia (Rome) with a maximum capacity of 540 MW, while the other two plants will be located off the coast of Olbia with a total capacity of about 500 MW and 1,000 MW, respectively. The three projects are expected to generate about 5 TWh/year and will be operational between 2028 and 2031, once the permitting process and the subsequent construction phase are completed.

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Collaborators of the GreenIt project are Nice Technology and 7 Seas Wind

Also contributing to the three projects, which will use floating foundations and innovative technical solutions aimed at minimizing environmental and visual impact, will be Nice Technology and 7 Seas Wind, Italian companies with proven experience in the offshore sector, which in 2022 have already collaborated with GreenIT and CIP on the development of two other projects in Sicily and Sardinia for a total capacity of about 750MW.

Now, thanks to this latest agreement, the partnership’s entire Italian offshore wind portfolio will reach a capacity of nearly 3 GW with an annual output of about 7 TWh of renewable energy, capable of meeting the electricity consumption of nearly 2.5 million households.

GreenIT was established in March 2021 and is dedicated to the development, construction, and operation of plants for the production of electricity from renewable sources in Italy

Owned 51 percent by Eni and 49 percent by Cdp Equity, it aims to produce energy mainly from photovoltaic and wind power plants with the goal of reaching an installed capacity by 2025 of about 1,000 MW, with cumulative investments over the five-year period of more than €800 million. The joint venture also has among its aims the development and construction of greenfield plants, including through the enhancement of the real estate assets of the CDP Group and the public administration.

In March last year, on the other hand, GreenIT acquired from Gruppo Fortore Energia spa its entire wind power portfolio consisting of four onshore fields operating in Italy with an overall capacity of about 110 MW. The deal includes 55 wind turbines located in Puglia, in an area with high windiness and with repowering prospects among the most interesting in the domestic market.

As for CIP, it is a Danish private equity operator specializing in energy infrastructure investments globally and particularly in renewable energy and greenfield projects

CIP currently manages about €18 billion in assets spread across eight private equity funds: CI I, CI II, CI III, and CI IV, focusing on energy infrastructure projects in OECD countries; CI New Market Fund I (NMF I), with a focus on energy infrastructure investments in new large and fast-growing economies mainly in Asia and Latin America.

CI Energy Transition Fund I (ETF I), focusing on next-generation renewable technologies mainly in OECD countries; CI Artemis I and CI Artemis II focusing on regulated transmission assets in Germany; and CI Advanced Bioenergy Fund I (ABF I), dedicated to equity investments in advanced bioenergy infrastructure in Europe and North America. These funds were also recently joined by CI GCF, CIP’s first debt fund that invests in junior private debt for project financing in OECD markets.

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(Featured image by aitoff via Pixabay)

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First published in Be Beez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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