Solar Ventures is resuming operations and investments in its home market with the aim of developing and building a portfolio of 1GWp of solar power plants in Italy and Spain in the next five years, with a total investment of 800 million euros in equity and debt.
"I'm particularly satisfied to note that market parity has been reached in Italy and Spain in such a short timeframe: it's a strong sign that renewables - and photovoltaics in particular - represent a real solution for the energy transition today. And that's even as fossil fules continue to benefit from innumerable subsidies. In Italy alone, they amount to 14.8 billion euros a year while the international Energy Agency estimates valus of global fossil-fuel consumption subsidies were $260 billion in 2016. It would be better to talk about double market parity", said Michele Appendino, chairman and chief executive of Solar Ventures.
"We have an ambitious plan but since we were an early mover we have gained considerable experience in all the phases of the business at a global level. We want to leverage on our background and experience to become one of the main solar PV players in southern Europe", added Appendino.