German investment and asset manager KGAL GmbH & Co KG announced on Thursday that it has secured approval in Italy to build three solar PV farms totalling 380 MWp in the Lazio region and Sicily.
Among these is the 150-MWp Tuscania, which KGAL says is one of the largest solar projects ever approved in Italy. The second is the ready-to-build 90-MWp Vitorchiano project, located some 30 kilometres (18.6 miles) away from Tuscania.
These two projects are strategically sited in the region between the north of Italy and Rome. According to the German investor, higher electricity prices can be achieved there.
The third approved project is the 140-MWp Pietra Monreale scheme in Sicily, which is part of KGAL’s Sicilian project pipeline that can be expanded to 700 MW in several sections over the next few years. The KGAL ESPF 4 fund has its hands in one part of this portfolio, while the rest is the investment of its successor fund KGAL ESPF 5.
Impact fund KGAL ESPF 5 recently acquired a majority stake in Italian renewables developer Baltex Progetti, a firm holding a pipeline of wind and solar projects with over 300 MW of combined capacity in Emilia Romagna, Sardinia and Sicily.
All these opportunities in Italy can be transformed into over 1,200 MW of wind and solar power capacity, the investor added.
Choose your newsletter by Renewables Now. Join for free!