Italy’s Edison S.p.A. plans to invest US$3.4 billion to more than double its renewable energy capacity by the end of the decade.
The Milan, Italy, based energy group plans to build 3 GW of wind and solar power by 2030 to take its overall capacity to 5 GW.
The growth, concentrated in the south of Italy, will be mainly organic but acquisitions cannot be ruled out, said Chief Executive Nicola Monti. “We are also looking to grow renewables in two markets outside Italy where we already operate, Greece and Spain,” he said. “We plan to build 500 MW of renewable capacity for electrolyzers to produce green hydrogen.”
Edison, owned by France’s EDF, is focused on renewable power and energy efficiency after selling almost all of its upstream exploration and production assets. It still operates a portfolio of gas-fired power plants across Italy and has other gas assets like storage and liquefied natural gas.