MILAN, Dec 16 (Reuters) - JP Morgan-backed renewable energy company Sonnedix has secured contracts for 805 megawatts of solar capacity in Italy under three government-sponsored schemes, it said on
Sonnedix Secures 805 MW of Solar Power in Italian Contracts
MILAN, Dec 16 (Reuters) - JP Morgan-backed renewable energy company Sonnedix has secured contracts for 805 megawatts of solar capacity in Italy under three government-sponsored schemes, it said on Tuesday.
Considered easier to develop than wind projects due to the Mediterranean country's geographical characteristics, solar power is playing a central role in the energy transition in Italy, which has emerged as one of Europe's leading producers of the clean energy.
Sonnedix, which already has over 900 MW of capacity in Italy, said the new contracts will expand its existing pipeline of renewable projects and support its goal of supplying clean electricity to industrial customers.
It won the bulk of the capacity – 670 MW across nine solar sites – in the auction completed by Italy's energy services agency in early December under an incentive scheme known as FER X.
It also secured 125 MW under the so-called "Energy Release Mechanism", which aims to give incentives for high-energy-consuming companies to switch to renewable sources. It won an additional 10 MW through a tender reserved for solar projects built without equipment manufactured in China.
Italy awarded 7.7 gigawatts of solar capacity in total through the FER X auction and an additional 1.1 GW in its first tender for projects built without Chinese components.
Sonnedix currently operates renewable projects worth 12 GW globally, with nearly 1 GW under construction and a development pipeline exceeding 6.7 GW.
(Reporting by Francesca Landini; Editing by Joe Bavier)
