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Italian energy company ERG last week unveiled its 2021-2025 business plan and plans to invest 1.
9 billion euros to increase its installed renewable energy capacity by 1.
5 GW
.
According to the strategy, ERG will have 4.
7 GW of installed renewable energy plants in operation
by the end of 2025.
CEO Paolo Luigi Merli said: "More than 3 GW of installed capacity and 3 GW of development projects are fundamental to
starting a new phase of growth and transformation.
”
The Italian company plans to invest around €2.
1 billion in its operations over a five-year period, 90% of which will be spent on renewable energy
.
Of these, the target of 1,500 MW will be achieved
through a combination of reinstallations, greenfield and co-development projects, and acquisitions.
Specifically, the UK, Poland and France are already building about 400 MW of projects, while Sweden has a 62 MW project ready
.
The acquisition will add approximately 600 MW of capacity, while the planned development of wind and solar will add 300 MW of capacity
.
The remaining 200 MW will be left to Italy's wind power market
.
On the financial side, ERG will strive to capture 80% of its earnings before interest, taxes, depreciation and amortization (EBITDA)
through auctions or power purchase agreements (PPAs).
In addition, the energy company aims to open up new markets, including Spain and Sweden
.
ERG also said it will seek technological diversification
by exploring options in the energy storage and hydrogen sectors.
Italian energy company ERG last week unveiled its 2021-2025 business plan and plans to invest 1.
9 billion euros to increase its installed renewable energy capacity by 1.
5 GW
.
According to the strategy, ERG will have 4.
7 GW of installed renewable energy plants in operation
by the end of 2025.
CEO Paolo Luigi Merli said: "More than 3 GW of installed capacity and 3 GW of development projects are fundamental to
starting a new phase of growth and transformation.
”
The Italian company plans to invest around €2.
1 billion in its operations over a five-year period, 90% of which will be spent on renewable energy
.
Of these, the target of 1,500 MW will be achieved
through a combination of reinstallations, greenfield and co-development projects, and acquisitions.
Specifically, the UK, Poland and France are already building about 400 MW of projects, while Sweden has a 62 MW project ready
.
The acquisition will add approximately 600 MW of capacity, while the planned development of wind and solar will add 300 MW of capacity
.
The remaining 200 MW will be left to Italy's wind power market
.
On the financial side, ERG will strive to capture 80% of its earnings before interest, taxes, depreciation and amortization (EBITDA)
through auctions or power purchase agreements (PPAs).
In addition, the energy company aims to open up new markets, including Spain and Sweden
.
ERG also said it will seek technological diversification
by exploring options in the energy storage and hydrogen sectors.
