Hive Energy signs its first photovoltaic project deal in Italy

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Global renewable energy developer Hive Energy has signed an agreement with GreenIT, the joint venture between Plenitude and CDP Equity set up to develop, build and manage plants for the production of energy from renewable sources in Italy, to sell four photovoltaic projects with a total capacity of up to 200 MW. The transfer of each of the four projects will take place as Hive brings them to Ready-to-Build status, which is expected over the coming months.

This marks the first project sale for Hive in Italy, following recent successful transactions in the UK, New Zealand, and Spain.

The new sites will be developed in Apulia, Sicily, and Lazio using agri-voltaic technology, which involves installing raised structures to achieve synergy between agriculture and the production of renewable energy. Once operational these agri-voltaic parks are expected to cover the electricity consumption of around 150,000 households, contributing to the decarbonisation targets set out in the 2030 National Integrated Energy and Climate Plan.

Renewable energy expansion is a key area of focus across Italy. The National Resilience and Recovery Plan (NRRP) has devoted almost €60 billion to green revolution and ecological transition until 2026, with plans to end its reliance on coal power by 2025. The NRRP’s strategy will bring renewable power to the forefront by 2030, with around two thirds of the country’s power originating from clean sources.

Hive has been present in Italy with SunLeonard Energy Ltd since 2021 and is developing a pipeline of over 700MW of renewable energy projects across the country. As well as a substantial portfolio of photovoltaic projects, Hive is expanding into green hydrogen development to support the distribution of clean H2 to hard-to-abate sectors across Northern Italy.

Stefano Salerno, Italian Country Manager at Hive Energy, commented: “I am delighted that we have reached this important milestone of successfully signing our first solar PV projects deal in Italy. We welcome this relationship with GreenIT which has been very positive for Hive and look forward to these projects helping to accelerate the energy transition in Italy.”

Mike O’Neill, CEO of Hive Renewables, stated: “Signing the first sale transaction in a market is always a significant step, especially with such an important investor as GreenIT. It is testimony to the quality of development work undertaken by Stefano, the wider team and Hive’s local partners.”