GreenGo obtains FER1 incentives for 'Livia' photovoltaic project (3.5 MW) on former quarry in Lombardy

Bologna, 20 March 2025 - GreenGo is pleased to announce that its special purpose vehicle (SPV) Sunflow Srl has been successfully awarded access to the incentives provided for by the Ministerial Decree FER1 of 4 July 2019, aimed at promoting electricity generation from renewable sources.

Sunflow srl will build a new photovoltaic plant with an installed capacity of 3.48 MW in Pieve Albignola, Pavia province, Lombardy. The 'Livia' project, authorised by the municipality on 11 April 2024, will be built on a former quarry that is no longer suitable for mining exploitation and has been completely restored environmentally, thus representing a virtuous example of territorial regeneration and environmental requalification.

Sunflow Srl applied to participate in the sixteenth Auction and Registry procedure provided for by the Italian Ministerial Decree of 4 July 2019, concerning the "Incentivisation of electricity produced by onshore wind, solar photovoltaic, hydroelectric and sewage process residual gas plants". Following the verifications conducted by the Gestore dei Servizi Energetici (GSE), the project was included in the ranking list with an awarded 20-year incentive tariff of 76.61€/MWh (with drop of 2.62 per cent, it was among the last of the 112 eligible photovoltaic plants admitted to the incentives, with a total capacity of 458 MW, against requests close to 500MW)

This result confirms the company's development capabilities and fits in strategically with GreenGo's expansion plan in Northern Italy and the Lombardy region, also thanks to the collaboration already started with Astrea Energia for the development of a further photovoltaic plant in the same area.

"To date, GreenGo's pipeline has achieved a remarkable track record with over 560MW of projects already approved/RTB," says Giuseppe Mastropieri, CEO of Greengo. "Our goal is to grow in Northern Italy by increasing our pipeline by a further 700MW in the coming months to reach at least 2.5GW by the end of the year. We are very selective regarding projects: we focus on initiatives with a high success rate and fast approval processes. We have so far chosen to focus on FER 1 and the PNRR Agrivoltaic Call for Proposals, as we already have 34 MW of photovoltaic plants with GSE incentive tariffs; this represents a "high yield" quality asset, also due to the high level of competition expected from the FER X Transition. The strategic diversification of the revenue model of our renewable assets is a distinctive element together with the technological and geographical diversification that we pursue with untiring determination. We believe that having a broad commercial strategy with more options significantly improves both financial appeal but also competitiveness by having more commercial levers at our disposal".

Once operational, the photovoltaic plant will be able to supply clean electricity to around 11,000 homes per year, avoiding the emission of around 7,103 tonnes of CO2 per year, supporting the national energy transition and further enhancing GreenGo's commitment to sustainable development, technological innovation and environmental protection.

About GreenGo

GreenGo, founded in 2018 as a start-up, has rapidly reached significant milestones, led by Giuseppe Mastropieri and driven by the exceptional skills and strong dedication of its constantly growing team of high-profile professionals and managers: the company now has more than 50 employees and collaborators, as well as exclusive agents on the national territory. 
The partnership with the Eiffel Essentiel fund, launched in 2022 with a capitalisation of 7 million euro and renewed with the 15 million euro equity bridge in 2023, has accelerated GreenGo's growth, leading the company to position itself as a leading player in the Italian and southern European panorama of the development of utility-scale RES plants, in addition to pursuing independent energy production, the primary objective of the current industrial plan. 

From September 2023, GreenGo has resided in the new green hub S/PARK - Sustainability Workplace, located in via G. Matteotti 31/2 in Bologna. The structure, desired and conceived by Fimm S.R.L., represents a significant redevelopment of an architectonic site of artistic and urbanistic relevance and stands as a reference point for the Italian green economy, hosting the Group's activities and opening up to companies, professionals, institutions and citizens.