Two solar projects with Astrea Energia in Lombardy. First PV plant authorised; first solar floating development started

GreenGo, in collaboration with Astrea Energia, announces its first two solar energy projects in Lombardy: the first, already authorised, is a photovoltaic plant located on the flat land of a formerly decommissioned quarry (3.5 MW); the second, on the starting blocks, envisages the construction of a floating photovoltaic plant on a reservoir (5 MW) obtained from the recovery of an area previously exploited with mining activities.

The two initiatives mark a concrete turning point in the Pavia region's energy landscape: the total planned peak power is 8.5 MWp with a connection to the local electricity grid.

The first plant will cover a total area of 4.88 hectares and have a peak capacity of 3.5 MWp. Construction will start by the end of the year and come into operation in June 2025.

The second project in the lower Pavia area, based on floating photovoltaic technology, will be built on a 10.6-hectare reservoir with a usable floating area of 6.60 hectares. It is state-of-the-art technology with a peak power of 5 MWp.

The objective pursued in the engineering process is to guarantee the minimum environmental impact, also through a careful study of the site's biological and avifaunal conditions and a construction strategy that minimises the logistical impact on the territory. This strategy also ensures the full reversibility of the intervention at the end of the plant's life cycle.

The strategic partnership with Astrea Energia was launched in 2023 and underlined Astrea's solid experience in the renewable energy sector. The company led by Maria Sabella took 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 GreenGo, which represents excellence in our sector, on this innovative project is a truly enriching experience and demonstrates how value can be created through the pooling of synergies and skills. This operation adds to and enhances our project portfolio in Northern Italy, which to date exceeds 300MW. We are confident that soon, thanks to the DM FER X, we will be able to boost the floating photovoltaic sector, which has compelling development potential in Italy, and which would need more convinced government support to be able to take off, also considering the positive environmental benefits by limiting the consumption of agricultural land and protecting water resources while respecting biodiversity. The proximity of the two plants will allow responsive benchmarking across the lifetime cycle of PV systems monitoring of the producibility of floating technology compared with the ground-mounted one."

Fabio Amico, Development Director and member of GreenGo's Board of Directors, adds: "This initiative 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 a sustainable LCOE for PV floating as well. With the support of public programmes for innovation in the RES sector, the goal is to realise in Italy the first utility-scale demonstration plant that could kick-start the industrial chain. Astrea, thanks to its design and excellent technical development skills demonstrated, is the ideal partner for us in this phase of accelerated territorial diversification and GreenGo industrial growth".

GreenGo is successfully expanding its presence in Italy and consolidating a leading role in the renewable energy sector. With projects distributed in 11 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 continues to record a development activity focused on regions in Central-Northern Italy where the gaps concerning the regional targets for renewable energy installations, according to the PNIEC's Burden Sharing to 2030, are most important.

About GreenGo

GreenGo, founded in 2018 as a start-up led by Giuseppe Mastropieri and driven by the exceptional skills and strong dedication of its constantly growing team of high-profile professionals and managers, has rapidly achieved significant milestones. The company now has more than 50 employees and collaborators, including exclusive agents on the national territory.

The partnership with the Eiffel Essentiel fund, launched in 2022 with a capitalisation of 7 million euros 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.

About Astrea Energia

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