Austrian energy utility Verbund has acquired a 110MW solar portfolio located in Lazio, central Italy, from Ke-Reninvestment, a subsidiary of Turkish investor Kinesis Enerji. The financial details of the transaction were not disclosed.
The portfolio comprises two solar projects that are described by Verbund as being at an “advanced stage of development” and sharing a common substation. This acquisition is part of Verbund’s strategy to diversify its renewable energy mix, which has traditionally been dominated by hydropower.
Verbund is a major player in renewable energy, with approximately 95% of its power generation coming from renewable sources, primarily hydropower. The company, which has an installed hydropower capacity of around 8.2GW, has been actively investing in solar and wind energy projects in recent years to broaden its renewable energy portfolio.
Italy’s solar sector has seen significant growth and investment throughout the year. In June, Spanish firm Elawan Energy announced a joint venture aimed at adding 2GW of new solar capacity. Furthermore, for the first time in Italian history, renewable energy generation exceeded fossil fuel generation in the first half of the year, driven largely by a 14.6% year-on-year increase in solar and wind energy output.
Despite this progress, the Italian government has banned the development of new agrivoltaics (agriPV) projects earlier this year, a move criticised by experts who see significant potential in combining agriculture and solar power to boost Europe’s renewable energy capacity.
