• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 6 days America should go after China but it should be done in a wise way.
  • 1 hour Even Shell Agrees with Climate Change!
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 2 days World could get rid of Putin and Russia but nobody is bold enough
  • 3 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 5 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in

Breaking News:

OPEC Lifts Production in February

Exxon Threatens to Derail Chevron's Acquisition of Hess

Exxon Threatens to Derail Chevron's Acquisition of Hess

Exxon is challenging Chevron's acquisition…

Octopus Energy Announces 1.1 GW Renewable Venture In Italy

Octopus Energy Generation has continued its expansion plans into Europe, deepening its role in Italy’s green power market.

Its venture group, Octopus Energy Development Partnership (OEDP) has invested in renewables specialist Nexta Capital Partners, and is creating a joint project with the Milan-based group.

The new venture aims to build 1.1GW of new onshore wind, solar farms and energy storage in the south of Italy by 2025. 

This will power 1.2m homes, while potentially avoiding a potential 950,000 tonnes of carbon dioxide a year.

This is the equivalent of removing over 500,000 petrol cars and planting over 4.6m trees. 

The recently launched €220m OEDP invests in early stages of building green power.

OEDP is providing funding to Nexta who will secure land, grid connections, planning permission and local community engagement to get renewable projects to the ready-to-build stage.

Nexta was founded in 2015, developing renewable energy projects in Italy.

Octopus backs Italy’s plans to go green to ease Russian reliance

Italy depends on Russia for around 25 percent of its imported gas and the Government is aiming to reduce its reliance through renewable developments.

In the past year, regulations have been passed to unblock bottlenecks in permitting renewable projects and speed up green energy deployment in Italy.

Zoisa North-Bond, chief executive of Octopus Energy Generation, said: “Building more new green energy will help reduce reliance on imported fossil fuels and drive down energy bills. Onshore wind and solar are some of the cheapest forms of energy – and Italy can generate it right on their soil. To avoid a repeat of the energy crisis, it’s essential we turbocharge the creation of new renewable energy and shift to a low carbon energy system.” 

Related: Ukraine Receives First Tranche Of $5 Billion EU Aid Package

Fabrizio Caputo, co-founder and managing director of Nexta, said: “The partnership with Octopus represents a further step towards the consolidation of our growth objectives within the renewable energy industry. We aim to play a leading role with Octopus in the energy transition process.” 

This follows Octopus Energy Italy launching its energy supplier brand in Italy in June 2022, after acquiring SATO Luce e Gas in November 2022. 

ADVERTISEMENT

Octopus Energy Generation is one of Europe’s largest renewables investors, managing green energy assets worth £4.4bn.

It previously invested in the Italian renewables market in 2017 to build 173 MW of solar farms in Lazio and Sardinia, sold in February 2021.

By CityAM

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News