Italian Energy Firm Edison Mulls EUR 5 Billion Investment in Renewables

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The renewable energy firm of Italy – Edison – has announced that it will be investing EUR 5 billion in the renewable energy sector. The objective of Edison is to raise its installed renewable capacity by the end of this decade to 6 GW.

Edison is owned by French renewable major EDF and it has current installed renewable energy capacity of 2 GW.

Marco Stangalino, Executive Vice President and Power Asset Director, Edison, said in an official statement, “By 2030 green energy will account for 40% of our power mix with a significant push toward decarbonisation.”

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In the scheme of things planned, the firm is mulling to develop 1 GW of installed wind power and 2 GW of solar power. It will also be developing 1 GW of renewable energy sources to produce hydrogen and create energy storage facilities.

Edison says that it is committed to growing in the renewables sector in order to provide Italian families and businesses with more and more sustainable energy.

It has long been present in the hydroelectric sector, with its first plants dating back to the late 19th century. It’s increasingly strengthening its presence in the wind sector, where the target of Edison is to becoming the Italy’s leading operator.

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In the wind and photovoltaic sectors, Eidson operates through E2i Energie Speciali, a company formed by Edison and F2i in 2014, as well as the Castelnuovo Wind Farm.

Until now, the firm has installed 77 MW of solar power in Italy and 922 MW of wind energy through a bank of 33 wind farms. The EDF owned company also has 89 hydro power plants in Italy (of which 50 mini hydro) with an installed capacity of 1,132 MW.

Edison has set a goal to become the leading wind operator in Italy through the E2i Energie Speciali partnership.