German investment and asset management company KGAL GmbH & Co KG announced on Thursday that it has received approval in Italy to build three solar photovoltaic plants with a combined capacity of 380 megawatts in the Lazio region and Sicily.
These include the 150-megawatt Tuscania project, which KGAL says is one of the largest solar projects ever approved in Italy. The second project is the upcoming 90-megawatt Vitociano project, about 30 kilometers (18.6 miles) from Tuscania.
The two projects are strategically located in the area between northern Italy and Rome. According to the German investor, higher electricity prices can be achieved there.
The third approved project is the 140 MW Pietra Monreale project in Sicily, which is part of the KGAL Sicily project pipeline and can be expanded to 700 MW in several sections over the next few years. The KGAL ESPF 4 fund holds a portion of this portfolio and the remainder is invested in its successor fund, KGAL ESPF 5.
Impact fund KGAL ESPF 5 recently acquired a majority stake in Italian renewable energy developer Baltex Progetti, a company with a pipeline of more than 300 MW of combined capacity for wind and solar projects in Emilia Romagna, Sardinia and Sicily.
The investor added that all of these opportunities in Italy could translate into more than 1,200 megawatts of wind and solar power capacity.