Corporate news: VERBUND AG enters Italian market after signing a cooperation agreement with the PV-Invest Group and acquiring a photovoltaic project portfolio of up to 250 MWp in Apulia

Following the successful entry into the Spanish market, VERBUND AG’s Executive Board is hereby announcing the company’s market entry into the Italian market. The basis for this is provided by a cooperation agreement with the PV-Invest Group for the acquisition of a project development company including development of a photovoltaic (PV) project portfolio of up to 250 MWp. As yet, the acquisition of the project is not contractually linked to an investment decision, which will only be made when the projects are ready to build and is contingent on VERBUND’s (profitability) criteria continuing to be met.

The project portfolio consists of a pipeline of up to 45 greenfield solar PV installations in the region of Apulia in southern Italy. Part of the pipeline comprises Agri-PV projects that will allow for even more sustainable energy generation. The project portfolio is still in the approval phase. All of the projects have a capacity of less than 10 MWp. The projects from the portfolio will gradually achieve ready-to-build status starting in quarter 3/2023 up to mid-2024, with the majority coming on stream by the end of 2024.

By implementing its Mission V programme, VERBUND is striving for significant growth in the field of new renewables. The company’s plan is to produce approximately 20–25% of its electricity from photovoltaic sources and (onshore) wind power plants by 2030 which corresponds to an installed capacity of 3,800 MW. VERBUND’s objective is to spread its risk through regional differentiation.


Andreas Wollein Andreas Wollein

Head of Group Finance and Investor Relations

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