Verbund Enters Italian Market With Photovoltaic Project in Apulia
December 13 2022 - 11:12AM
Dow Jones News
By Christian Moess Laursen
Verbund AG said Tuesday that it will enter the Italian market
through the acquisition of a project development company following
an agreement with PV-Invest Group, a renewables investment
company.
The acquisition includes development of a photovoltaic project
portfolio. The portfolio, which is still in the approval phase,
consists of a pipeline of up to 45 photovoltaic installations in
the region of Apulia in southern Italy.
The projects are expected to achieve ready-to-build status from
the third quarter of 2023, with the majority coming on stream by
the end of 2024.
The Austrian electricity company plans to expand in the field of
renewables, aiming to produce approximately 20-25% of its
electricity from photovoltaic sources and wind power plants by
2030.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
December 13, 2022 10:57 ET (15:57 GMT)
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