GE Vernova has entered a JV partnership with Lizard Renewables for the Italian market
Their JV Alva Power will target to develop over 1 GW of wind, solar and BESS projects
GE Vernova will get the 1st right to provide technologies and services to the projects
US-headquartered global energy company GE Vernova and Italian renewables firm Lizard Renewables are bringing together their respective expertise to establish over 1 GW of wind, solar and battery energy storage system (BESS) projects in Italy.
The duo has announced the formation of Alva Power as a 50:50 joint venture (JV) to develop this target capacity in one of the growing renewable energy markets of Europe.
Lizard has already identified and selected Alva’s initial target of more than 1 GW project capacity. Alva will continue to explore additional project development opportunities in other European segments in the medium to long term.
The JV will get access to GE Vernova’s portfolio of energy products and services, as well as in financing and project development, while Lizard will provide it exposure to its extensive network of local strategic collaboration with leading companies in the reference sectors.
GE Vernova will also get the 1st right to provide technologies and services to the projects. The company is a global supplier of solar PV inverters and energy storage systems.
“Alva Power will enter an already solid market with strong growth prospects, benefiting from the synergies between the two companies and the tailwinds of national and European energy policies. Our goal is to further strengthen the growth trajectory of renewables in Europe, with a specific focus on Italy,” said Lizard Renewables General Manager Marco Salvato.
Earlier this year, another GW-scale solar PV JV partnership was announced for the Italian market between Elawan Energy and R.Power (see Joint Venture For 2 GW Solar PV Capacity In Italy).
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