Elawan Energy has entered into a joint venture with R.Power Investment to develop 2.0 GW of photovoltaic projects in Italy. Legal assistance for the deal was provided by Watson Farley & Williams and DLA Piper.

The projects under this joint venture are in the initial greenfield stage and will collectively have an installed capacity of up to 2.0 GW. These projects are anticipated to be ready for construction over the next six years, with a target completion date of 2030. They will be distributed across various Italian regions, including Basilicata, Lazio, Sardinia, and Sicily, with capacities ranging from over 8 MWp (medium-sized) to more than 40 MWp (large-scale).

Pedro García Crespo, Chief Investment Officer of Elawan Energy, mentioned that this partnership marks a crucial step in their global expansion strategy and aligns with their objective to strengthen their presence in the Italian market.

Elawan Energy views Italy as a prime location for renewable energy investment, driven by the country's ambitious decarbonization plans. The Spanish-based company began operations in Italy in January 2023 by acquiring two solar photovoltaic projects in the development phase from a local developer. Located in the Apulia region of southern Italy, these projects are expected to become operational by 2025, with capacities of 20.4 MW and 51.2 MW, respectively.

Elawan Energy: 54 operational parks across 9 countries

As part of the ORIX group, Elawan Energy is a global renewable energy operator offering comprehensive solutions throughout the lifecycle of wind and photovoltaic projects, from development and construction to operation, maintenance, and energy sales.

The company currently manages 54 operational parks across nine countries, with over 1.80 GW in operation, 234 MW under construction, and more than 8.5 GW in various development stages.

R.Power, specialist in photovoltaic power plants

R.Power is a fast-growing European company specializing in the development, design, construction, and maintenance of large-scale photovoltaic power plants. Its portfolio includes 9.9 GWp of projects in development and 661 MWp of solar plants either built or under construction.