[Milan, December 2024] Ethical Power Italia, a subsidiary of Ethical Power Group, has signed its first solar EPC (Engineering, Procurement and Construction) contracts in Italy for the construction of two solar farms on behalf of Encavis AG.
The two schemes are 9MW Cobu Solar Farm and 9.3MW Massarenti Solar Farm, located in the region of Emilia-Romagna, in the North of Italy. Both Cobu and Massarenti will utilise single axis tracker systems. The Cobu project will also include the completion of 5km MV grid connection line to the nearest grid access point. The construction of both schemes is expected to start in the first quarter of 2025, with target energisation date by the end of 2025. Together, the schemes will generate approximately 28GWh a year.
“As an Ethical Power Group company, drawing upon a wealth of experience gained from diverse global landscapes, we will bring a world-class approach to harnessing Italy’s abundant sunlight and deliver cutting-edge solar projects at Cobu and Massarenti,” comments Francesca Cavallini, Country Manager for Ethical Power Italia. “We are delighted to have signed our first contracts now with a leading European renewables company Encavis AG as a client, continuing our successful international relationship with them.”
This is the second solar EPC contract awarded by Encavis AG to Ethical Power Group companies, with the first project, the 55MW Fundici Solar Farm in Spain, nearing completion.
Encavis AG acquired the Cobu and Massarenti solar projects at ready-to-build stage from Hive Energy at the beginning of the month.
Italy’s solar energy sector is growing rapidly, with 5.23 GW of new solar capacity added onto the grid in 2023, the highest annual total since 2011. Ethical Power Italia has a further pipeline of 200MW of solar and BESS construction projects, aiming to further support the growth of renewables in the country in the years to come.
About Encavis AG
The Encavis AG is a producer of electricity from Renewable Energies. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group’s total generation capacity currently adds up to around 3.7 gigawatts (GW), of which around 2.2 GW belong to the Encavis AG, which corresponds to a total saving of around 0.8 million tonnes of CO2 per year stand-alone for the Encavis AG. In addition, the Group currently has more than 1.2 GW of capacity under construction, of which around 900 MW are own assets.
Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors. Another Group member company is Stern Energy S.p.A., based in Parma, Italy, a specialised provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.
ENCAVIS is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG’s environmental, social and governance performance has been awarded by two of the world’s leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with their “AA” level and ISS ESG with their “Prime” label (A-), the Carbon Disclosure Project (CDP) with its Climate Score “B” and Sustainalytics with its “low risk” ESG risk rating.
Additional information can be found at www.encavis.com