Coralsun is set to create 150 MW of new solar projects in the next five years, with an initial focus on the north of Italy, targeting hundreds of commercial and industrial SMEs such as logistics hubs, manufacturers and warehouses.
The installations will be free for the companies taking part. Businesses will be able to lock in fixed prices for the solar energy over the long-term, allowing them to say goodbye to fluctuating energy bills. The projects will be able to quickly connect to the grid thanks to Italy’s streamlined permitting process for smaller distributed energy sources.
“Businesses in sun-soaked Italy are sitting on a golden opportunity to harness what’s one of the cheapest energy resources - solar power” said Alex Brierley, Co-Head of Octopus Energy Generation. “With electricity costs skyrocketing for businesses in Italy over the past few years, tapping into abundant solar resources will help cut costs for companies. This deal is a step towards us accelerating Italy’s green energy transition.”
Italy is currently targeting 65 percent of its electricity to come from renewable sources by 2030.
Octopus has invested in several new wind, solar and battery storage projects across Italy over recent years, and is planning to invest 1 billion euros in Italian renewables by 2030.
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