Lightsource BP, a joint venture between Lightsource and BP, has signed an agreement to develop 400 MWp of solar photovoltaic (PV) projects in Italy with two Italian firms. The company seeks new opportunities in the central and northern Italian areas to diversify its portfolio geographically.
In Veneto, Piedmont, Emilia-Romagna, Friuli Venezia Giulia, and Lombardy, the company signed the first agreement with Solar IT to develop 200 MWp of PV capacity. The second deal is for the joint development of a 200 MW PV project pipeline in north-central Italy and on the country’s two major islands, Sicily and Sardinia, with TEP Renewables’ Italian arm. Of the pipeline’s total capacity, 163 MW has already been identified, with entry into operation expected in 2023 and 2024.
Earlier this month, BP signed a collaborative development agreement with Hydrogen Chemistry Company (HyCC) to develop H2-Fifty, a 250 MW green hydrogen plant in Rotterdam’s port area. The companies signed the agreement following a feasibility analysis, which suggested the project could make a ‘critical’ contribution to the decarbonising industry in the region. In addition, BP and HyCC will continue to refine the plant design and commence environmental studies in preparation for the licensing procedure. The plant’s final investment decision is expected in 2023.
REGlobal’s Views: Italy remains a large market for solar power installations despite sluggish growth over the past few years. Lightsource BP already has a solar portfolio in the south of the country and wants to expand its geographical reach and market share by setting up projects in north of Italy.
