Two solar plants win the fourteenth "FER 1" tender

Bologna, 21 June 2024 - GreenGo proudly announces that, through the SpVs Virgo S.r.l. and Kroton Soleil S.r.l., two of its plants have won the fourteenth “FER 1” tender under Article 14 of the Ministerial Decree of 4 July 2019. Located in Sicily, in Caltagirone (CT), and in Calabria, in Crotone, these plants represent GreenGo's first projects to obtain an incentive tariff for 20 years, marking a fundamental step in the company's roadmap to establish itself as an Independent Power Producer (IPP).

The total capacity of these plants is 7.3 MW, with an expected production of 14.5 GWh per year, equivalent to the consumption of 5,500 Italian households and the saving of 4,800 tonnes of CO2eq emissions per year.

Giuseppe Mastropieri, GreenGo CEO, shares his optimism about the future. He says, "This is a crucial result in our path as an IPP. Despite the challenges in the renewable sources sector, GreenGo is demonstrating a speed of development that places it among the most competitive realities in Italy. By the end of 2024, our BESS and solar Ready to Build projects will reach the 200 MW threshold, of which 42 MW are already under construction. This is just the beginning of our journey, and we are excited about what lies ahead."

GreenGo continues to develop RES projects that will significantly reduce carbon emissions. Its pipeline has exceeded 1,820 MW and is on track for a major maturation phase next year.

This success is a testament to GreenGo's extraordinary dedication and excellence in the renewable energy sector.

About GreenGo

GreenGo, founded in 2018 as a start-up, has rapidly achieved significant milestones, led by Eng. Giuseppe Mastropieri and driven by the exceptional skills and strong dedication of its constantly growing team of high-profile professionals and managers: by the end of 2023, the company now has 50 employees and collaborators, in addition to exclusive agents in the country.

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, as well as to project itself impetuously into the horizon of independent energy production, the primary objective of the current business plan.

To date, GreenGo's pipeline has reached 85 renewable projects in 11 regions for 1.82 GW, with a total of 1.24 GW under approval and over 216 MW already approved/RTB.

Since September 2023, GreenGo has resided in the new green hub S/PARK - Sustainability Workplace, located 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 point of reference for the Italian green economy, hosting the Group's operations and opening up to companies, professionals, institutions and citizens.