Overview of the year
Repower Renewable develops and operates renewable energy generation assets in Italy. The company continues to work on business integration and business development. On the photovoltaic side it made major acquisitions, and many additional projects are under construction across the country.
Following the establishment of a joint venture between Repower Italy and the Italian investor Omnes Capital with a portfolio of assets with capacity of 90 megawatts (65% Repower Italia Spa and 35% Capenergie 3), Repower Renewable has continued with its development strategy. It has also looked into modernising and refinancing its own existing assets.
Between March and June 2020 (during the coronavirus lockdown), Repower Renewable made major acquisitions on the photovoltaic side and purchased 12 installations with a total capacity of 14.3 megawatts. The assets are located in Friuli Venezia Giulia and Puglia, and are already generating electricity on the basis of an incentive tariff scheme. With these acquisitions, Repower Italy now has a portfolio of renewable energy generation assets with total capacity of 104 megawatts (plus 6 megawatts of wind power capacity currently under construction on Sardinia), and the volume it generates from renewable resources comes to 195 gigawatt hours. Six megawatts of wind power capacity currently under construction on Sardinia are soon to be added. In 2020, Repower Renewable also launched a series of wind power and photovoltaic projects across Italy.
12 installations with a total capacity of 14.3 megawatts
Pumped-storage plan project reactivated
During the year under review work also began to re-blade the turbines of the wind farm in Lucera (FG) and replace a number of photovoltaic modules with the latest-generation components. The company also continued work to analyse and develop storage systems. In this context Repower Renewable built battery technology into its development pipeline and reactivated the project to build a 600-megawatt pumped-storage power plant in Campolattaro (BN) in Campania.
All the activities described here are a permanent component of the Repower Group’s strategy and aligned with Italian and European energy strategy and the targets formulated for renewable energy.