- Edison’s development plans targets solar and wind power capacity growth to reach 4 GW by 2030
- It will be achieved mainly through organic growth, through wind farm repowering and greenfield PV development, as well as through selective M&A operations
- Renewables capacity will also be used to produce green hydrogen, it added
- Edison is looking to bring on board a long-term financial partner for its wind and solar PV activities grouped in Edison Renewables
Italian energy company Edison, part of France’s EDF Group, has released a development plan keeping renewables at the center, pledging to grow its solar PV and wind power capacity from 1.1 GW now to 4 GW by 2030. The development plan is expected to incur €3 million ($3.6 million) investments to support its energy transition and decarbonization goals, it shared.
This expansion it aims to achieve mainly through organic growth, particularly from wind farm repowering and greenfield PV development, and through selective M&A operations. Growth of renewables will be used also to produce green hydrogen.
Edison is exploring the development of a possible partnership for a minority stake of its wind and solar PV activities grouped in Edison Renewables with a long-term financial partner. To offset the ‘typical intermittency of non-programmable renewable sources’, Edison said it will continue to invest in ‘necessary flexibility tools’ as hydroelectric pumping, storage batteries and gas generation.
The company stressed the development plan is in line with the Italian Integrated Energy and Climate Plan (PNIEC) and the European Green Deal.
Under its PNIEC, Italy will allocate €5.8 billion to incentivize 5.5 GW solar PV, wind, hydroelectric and gas purification power plants. Incentives will be provided to both new and repowered plants (see Italy Installed 187 MW New Solar Till May In 2019).