Innovo Renewables Acquires 66 MW of Photovoltaic Projects Across Italy

Innovo Renewables, an Italian renewable energy developer and operator, has announced the acquisition of 11 photovoltaic plants, including agrivoltaic projects, totaling 66 MW in capacity. The projects, which are in an advanced stage of development and ready to build, are located across Lombardy, Tuscany, Lazio, Abruzzo, and Puglia.

Accelerating Growth Targets

This acquisition aligns with Innovo Renewables’ growth strategy, spearheaded by founder Rodolfo Bigolin, to reach 150 MW of acquired projects by mid-2025. Construction of the newly acquired projects is set to begin in the summer of 2025, with operations expected to commence between late 2025 and early 2026.

Strategic Investment from Aviva Investors

The expansion has been bolstered by a €30 million investment from Aviva Investors, increasing its stake in Innovo Renewables to 45%. The investment will support the company’s broader development plan, aiming to establish Innovo as a leading independent power producer (IPP) in Europe.

Advancing Renewable Energy Goals

The acquisition underscores Innovo Renewables’ commitment to advancing renewable energy solutions in Italy, the United Kingdom, and Spain. With this latest move, the company is poised to strengthen its presence in the European renewable energy market, particularly in the rapidly growing photovoltaic sector.

This milestone marks a significant step toward Innovo Renewables’ ambition of becoming a key player in Europe’s transition to clean energy.