SolarDuck, Green Arrow Capital, and New Developments s.r.l. Form Alliance for Large-Scale Offshore Wind-Solar Project in Italy

In a groundbreaking collaboration, SolarDuck, a pioneer in OFPV technology, Green Arrow Capital, a leading Italian Independent Asset Manager specializing in alternative investments, and New Developments s.r.l., renowned for their expertise in development projects, have joined forces to spearhead the creation of a landmark offshore renewable energy initiative.

This visionary project entails the establishment of a monumental 120MWp OFPV farm seamlessly integrated with a 420MW Floating Offshore Wind (FOW) facility. Utilizing SolarDuck’s innovative elevated platform technology, which ensures safe deployment of PV panels even in challenging wave conditions, the venture promises not only sustainable energy generation but also minimal environmental impact.

Koen Burgers, CEO of SolarDuck, emphasized the significance of this collaboration, stating, “With the current momentum, we believe this is a unique opportunity for the offshore renewable energy industry to help shape a favorable regulatory framework and facilitate the scaling of OFPV. This is not just important for Italy, but also for other countries in the Mediterranean.”

This project is a key component of the Green Arrow Infrastructure of the Future Fund (GAIF), which focuses on investments in renewable energy and digital infrastructure across Europe’s high-potential markets.

Daniele Camponeschi, Founder & CIO of Green Arrow Capital Group, echoed this sentiment, saying, “As pioneers of renewables in Italy, we continually strive to lead the way, exemplified by our innovative offshore projects. These cutting-edge infrastructures not only generate green energy contributing to sustainable energy transition and independence but also demonstrate their complementarity to onshore installations, preserving precious land resources.”

Giovanni Guzzo, CEO of New Developments, expressed confidence in the project’s potential, stating, “The project is currently under permitting with an estimated COD in 2028. We are positive that this is a project that will materialize and have an impact on the regional economy in Italy.”

Situated in the Gulf of Taranto off the coast of Corigliano-Rossano in Calabria, the Corigliano offshore hybrid wind-solar farm will comprise 28 floating wind turbines, providing a wind capacity of 420 MWp, alongside a 120 MWp OFPV farm, culminating in a combined capacity of 540MW. The OFPV farm alone is projected to generate more than 160GWh of solar energy annually.

In alignment with Italy’s ambitions for offshore renewables and the broader Mediterranean region, this partnership seeks to pave the way for a carbon-neutral future. By leveraging their collective expertise and resources, SolarDuck, Green Arrow Capital, and New Developments aim to develop innovative solutions that not only reduce environmental impact but also accelerate the adoption of renewable energy.

Stay connected and embark on this Italian adventure towards a successful installation, and follow the journey through social media channels for regular updates.