- Eni and Cassa Depositi e Prestiti (CDP) have formed a joint venture to invest around €800 million ($957 million) in solar and wind energy generation.
- Italy plans to cut its carbon emissions by around 60 per cent by 2030.
Italian energy giant Eni and Cassa Depositi e Prestiti (CDP) have formed a joint venture to invest around €800 million ($957 million) in solar and wind energy generation over the next half-decade. The joint venture, GreenIT, which is 51% owned by Eni and 49% by CDP Equity, intends to have installed a total capacity of 1,000MW by 2025.
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Italy is looking to step up its clean energy capacity to meet the 2030 Integrated National Energy and Climate Plan’s objectives, which was submitted to the European Union Commission at the end of 2019. Italy’s new ecology minister Roberto Cingolani intends to release a new energy transition plan for the country by may. Cingolani had mentioned to the U.S. Special Presidential Envoy for Climate, John Kerry, that Italy plans to cut its carbon emissions by around 60 per cent by 2030. The country plans to invest €80 billion of EU funds for its energy transition over the next five years.