Elawan Energy and R.Power Announce Joint Venture for 2 GW Photovoltaic Projects in Italy

Elawan Energy, a company of Spanish origin now part of the Japanese firm Orix, has announced the creation of a joint venture with Polish company R.Power Investment to develop 2 GW of photovoltaic projects across Italy. The law firms Watson Farley & Williams and DLA Piper assisted in the operation.

The joint venture’s portfolio includes projects in the early development stage (greenfield) with a total installed capacity of up to 2.0 GW. These projects are expected to be ready-to-build over the next six years, with completion anticipated by 2030. The projects are spread throughout Italy, including the regions of Basilicata, Lazio, Sardinia, and Sicily, with individual capacities ranging from more than 8 MWp to over 40 MWp.

This collaboration marks the second alliance between the two companies. Previously, R.Power purchased ready-to-build projects in Western Pomerania and Greater Poland from Elawan Energy, totaling 18 MWp, with construction scheduled for 2024.

Elawan Energy began its activities in Italy in January 2023 by acquiring two solar photovoltaic projects in the development phase from a local developer in the Apulia region. These projects, expected to be operational by 2025, will have capacities of 20.4 MW and 51.2 MW, respectively.

In addition to its ventures in Italy, R.Power has announced the connection of its first photovoltaic plant in Portugal to the grid. This 8.4 MWp project is part of a larger 70 MWp portfolio and represents R.Power’s initial investment in Portugal. The power plant was constructed by Polish company Nomad Electric, which will also be responsible for its operation and maintenance. The energy produced will be sold under a power purchase agreement (PPA) with an unspecified energy company.

R.Power specializes in the development, design, construction, and maintenance of large-scale photovoltaic power plants. Its portfolio includes 9.9 GWp of projects under development and 661 MWp of solar plants either built or under construction.