- Edison and Webuild aim to develop 500 MW of hydroelectric storage capacity by 2030, investing 1.2 billion euros in southern Italy.
- The partnership focuses on upgrading Edison’s hydroelectric plants and building storage projects in Basilicata and Sicily.
- Italy targets 10 GW of new energy storage by 2030 to enhance renewable energy use and reduce fossil fuel dependence.
On Wednesday, July 10, 2024, Italian utility Edison and construction group Webuild announced an industrial partnership to develop hydroelectric storage projects. The collaboration aims to significantly boost Italy’s energy storage capabilities, supporting the nation’s ambitious renewable energy goals.
The alliance targets the creation of at least 500 megawatts (MW) of pumping capacity by 2030. Edison plans to upgrade some of its existing hydroelectric plants across Italy, enhancing their efficiency and capacity. The planned developments will be pivotal in stabilising the national grid as Italy increases its reliance on renewable energy sources, which vary due to weather conditions.
Edison and Webuild plan to drive investments totalling approximately 1.2 billion euros ($1.3 billion) in southern Italy. This substantial financial commitment will involve the two primary partners and attract other private investors, highlighting the collaborative effort required to modernise and expand the country’s energy infrastructure.
The partnership will focus on two major hydroelectric storage projects in the southern regions of Basilicata and Sicily. These strategically chosen projects will support regional energy needs and contribute to the overall stability of Italy’s power supply.
Nicola Monti, Chief Executive of Edison, emphasised the strategic importance of the partnership. “We are setting the foundations to safely achieve the energy transition, limiting the country’s exposure to dependence on critical raw materials,” Monti said. His statement underscores the broader implications of the project, which aims to enhance Italy’s energy security and reduce its dependency on imported fossil fuels.
Italy’s national energy and climate plan aims to build 10 gigawatts (GW) of new energy storage by 2030. This goal is crucial for the country’s shift towards a more sustainable energy system, as storage solutions are essential for balancing supply and demand, particularly when integrating renewable energy sources like solar and wind power.
The collaboration between Edison and Webuild marks a significant step towards meeting this target. By leveraging their combined expertise and resources, the two companies aim to accelerate the development of critical infrastructure that supports Italy’s clean energy transition.
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