ECONOMY

Mytilineos lands major RES project in Italy

mytilineos-lands-major-res-project-in-italy

Mytilineos announced on Monday it has been awarded a 52.8-megawatt solar project in an Italian RES auction.

In a statement, Mytilineos said it has strengthened the position of its Renewables & Storage Development (RSD) Business Unit in the Italian energy market by securing 20-year contract for differences (CFD) with the Italian state-owned agency, GSE, for the price of 65.17 euros per megawatt-hour.

This contract concerns a 52.8 MW solar project named Porto Torres in northwest Sardinia, a region identified as a strategic hub for the Italian market by Mytilineos. The project has been fully developed by the RSD Business Unit and is ready to build. Furthermore, it is the second largest solar project to participate in the 6th Italian auction (Decreto FER) for Renewable Energy (RES) projects.

The RSD Business Unit is strategically positioned in the Italian market with a 1.7-gigawatt solar energy storage and green hydrogen pipeline. The projects are at different stages of development and located in 15 regions.

Mytilineos is established as one of the companies to be acclaimed to participate in the future national RES auctions.

Nikos Papapetrou, general manager of the RSD Business Unit, stated: “The Porto Torres project is a big achievement for the RSD team in Italy, which has developed the project from scratch. This represents Mytilineos’ capability to go downstream in the development process and value chain. Jointly with the awarding of the 20% Terna ‘Fast Reserve’ auction in Southern Italy and Sardinia, this represents an additional milestone in positioning the company as a leading player in the Italian energy market.”