Italy’s plan for 4.6 GW of renewables approved
The European Commission has approved Italy’s state aid measure that will support the addition of 4590 MW of new renewable generation capacity.
Image for illustration purposes.
Italy, Rome: The European Commission has given Italy the approval for a state aid measure that will support the addition of 4590 MW of new renewable generation capacity. The scheme entails holding competitive bidding processes to award two-way contracts for difference (CfDs) for each kWh of electricity produced and fed into the grid by new plants running on technologies such as geothermal, offshore wind, thermodynamic solar, floating solar and marine energy, biogas, and biomass.
The projects that emerge successful from the tender will have to be executed in a period of 31 to 60 months. The measure will be in place until December 31, 2028, and will be financed through a levy included in the electricity bills of final consumers. The Commission said that the proposed scheme is “necessary and appropriate for Italy to meet the European and national climate targets” and that its “positive effects outweigh any potential distortion of competition and trade in the EU.”
Source: Renewables Now