Elawan Energy and R.Power SA to build 2-GWp solar capacity in Italy
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Elawan Energy, a Spain-based renewables developer, has collaborated with R.Power SA on a joint venture. According to a report by Renewables Now, the venture’s goal is to build a portfolio of Italian solar projects to add 2 gigawatts peak (2GWp) of power generation capacity.
The two firms joined hands to encourage the expansion of Italy’s photovoltaic (PV) capacity. R. Power, a Poland-based firm, mentioned in the Renewables Now report that the intention behind the partnership aligns with the firm’s plans for international expansion.
Elawan, part of ORIX Corporation, will act as a financial partner in this joint venture. R.Power will initiate the planned projects, oversee their progress, and provide partial funding.
Together, the two companies are reportedly planning to invest over $163.2 million in developing the portfolio. The projects in the joint venture will be divided between the partners during the ready-to-build phase.
This partnership represents Elawan’s new effort to expand in Italy. Previously, the company laid the groundwork for its expansion into the Italian market in 2023 when it acquired a 71.6-MW portfolio of solar projects under construction in the southern region of Apulia, Italy.
R.Power has major projects in its pipeline, including the one being built with Elawan. The Polish company recently acquired 200 MW PV projects in Romania.
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