Edison, Webuild team up for 500 MW of pumped-storage in Italy

Italian energy supplier Edison SpA (BIT:EDNR) and local industrial group Webuild SpA (BIT:WBD) have agreed to enter into a pumped-storage hydro (PSH) partnership, targeting the deployment of at least 500 MW of new capacities by 2030.

Under a programme agreement, the two companies will pool their expertise to jointly plan and implement two projects developed by Edison -- the Pescopagano plant in Basilicata and the Villarosa site in Sicily. They will seek to optimise the schemes and their construction methods.

The partners estimate that their initiative will result in EUR 1.2 billion (USD 1.29bn) of private investments in the South of Italy.

The projects are awaiting approval by the Ministry of the Environment and Energy Security (MASE) and licensing procedures in the respective regions. They are slated to compete in upcoming tenders for new storage capacities to be conducted by Terna.

The two schemes will use both existing and newly built reservoirs and will include significant fully underground engineering works to ensure greater compatibility with the territory.

Edison seeks to increase its portfolio of installed green capacity to 5 GW by 2030 from the current 2 GW.

(EUR 1 = USD 1.083)

Choose your newsletter by Renewables Now. Join for free!