With Astrea Energia the first floating photovoltaic plant in Lombardy

GreenGo, in collaboration with Astrea Energia, announces its first two solar energy projects in Lombardy: the first, an agri-voltaic plant located on the flat terrain of a former quarry now disused; the second involves the construction of a floating photovoltaic plant on a reservoir.

The two initiatives mark a concrete turning point in the Pavia area's energy landscape: the planned peak power is 8.5 MWp, significantly contributing to powering the local electricity grid.

The agri-voltaic plant is an excellent example of GreenGo's know-how, combining agriculture and technology to promote a sustainable energy transition: the total area of 4.88 hectares will host a plant with a peak power of 3.5 MWp.

The second project in the lower Pavia area, based on the principle of floating photovoltaics, will rise at a 10.6-hectare reservoir with a usable floating surface area of 6.60 hectares; it is a cutting-edge technology with a peak power of 5 MWp, capable of contributing 3.45 MW to the city's electricity grid.

Both projects will be authorised through an authorisation procedure (PAS): the objective pursued in the engineering process is to guarantee minimal environmental impact also through a careful study of the biological and avifaunal conditions of the site and a construction strategy that minimises the logistical implications for the territory, also ensuring the total reversibility of the intervention at the end of the plant's life cycle.

The strategic partnership with Astrea Energia was made official in the summer of 2023 and underlines Astrea's solid experience in the renewable energy sector. The company will take care of the development and authorisation process up to 'Ready to Build' status, guaranteeing the optimisation of the solar energy produced by the two plants.

Maria Sabella, Co-founder of Astrea Energia, comments: "Working with a top-level player like GreenGo is an honour and demonstrates how value can be created through the pooling of synergies and skills. To date, we have reached around 300 MW as co-developers in the photovoltaic sector. This operation adds to and enhances our project portfolio, trusting that soon, thanks to the DM FER 2 and the PNRR calls for tenders, we will be able to boost the Floating sector, which has interesting development potential in Italy, despite the well-known bureaucratic complexity".

Fabio Amico, Development Director and member of GreenGo's Board of Directors, adds: "This pioneering project in Lombardy confirms GreenGo's multi-technological DNA, which ranges from wind power to storage, and our natural vocation to promote innovative energy solutions in the renewable energy sector, with the challenge of achieving bankability also for PV floating high levels of plant reliability and a sustainable LCOE. Thanks to the planning and excellent technical skills it has demonstrated, Astrea is an ideal partner for us in achieving these goals over the coming year.

GreenGo is successfully expanding its presence in Italy, consolidating a leading role in the renewable energy sector. With projects spread across 8 different Italian regions, from the South to the North, GreenGo is proud to add Lombardy to its list of regions involved in the eco-sustainable energy transition. GreenGo also continues to see increasing activity in Central and Northern Italy regions.

"The start-up of GreenGo's activities in Lombardy now represents a significant step in the geographical expansion of its presence at a national level, demonstrating a solid ability to adapt to the different regulatory cases and territorial peculiarities of the country," concludes Fabio Amico, "intending to consolidate a further 200 MW of developments by 2023 in Veneto, Emilia-Romagna and Lombardy, and approach the 2 GW mark in the development pipeline by the end of the year, considering the totality of projects, including those already at RTB ready to build."

About GreenGo

GreenGo is an Italian Light IPP (Independent Power Producer) with a development pipeline of 1.7 GW of renewable and storage plants. Launched as a start-up in 2018 by a group of recognised professionals, GreenGo is now composed of a growing multidisciplinary team of 36 qualified staff (plus around 10 exclusive agents/partners) and aims to become a leading player in the Italian green economy.

Thanks to the venture capital deal with Eiffel Investment Group and the recent €15M equity bridge concluded with Eiffel Essentiel, GreenGo is progressively integrating from development to the construction and operation of power generation plants with the kick-off of the financing and installation of the first 40 MW of solar power.

As part of the FIMM Group (an investment holding company headed by engineer Mastropieri), GreenGo intends to gather the best talent in the sector, contributing to creating an Italian professional hub of international standing. Enhancing the value of renewable energies in Italy and Southern Europe by enabling and realising green projects with a high scalability and innovative matrix is the goal that guides GreenGo's activities.

About Astrea Energia

Astrea Energia, headquartered in Milan, is a company dedicated to developing large-scale solar and agri-voltaic plants throughout Italy. Astrea Energia benefits from the know-how and expertise of its two founding partners: Enlight Energy Services, a technical and financial services company with a multidisciplinary team of proven experience, and Equienergia, an engineering company that has been active in the Italian photovoltaic market for over 15 years. To date, the company has analysed more than 2 GW of projects and is carrying out a pipeline of more than 300 MW, mainly in Northern Italy and Sardinia, on behalf of leading institutional investors.