Renovit to install 10 MW of solar for Italian shipbuilder Fincantieri

Renovit, a unit of Snam SpA (BIT:SRG) and an associate of CDP Equity (CDPE), will install solar arrays with a combined capacity of 10 MW on several sites owned by Italian shipbuilder Fincantieri SpA (BIT:FCT).

Through its fully-owned subsidiary TEP Energy Solution, Renovit will deploy 22,000 solar photovoltaic (PV) panels at Fincantieri’s shipyards in Marghera (Veneto), Monfalcone (Friuli-Venezia Giulia), Riva Trigoso and Sestri Ponente (Liguria), as well as at the engine production plant in Modugno - Bari (Apulia).

Fincantieri SI, a Fincantieri Group company, has been involved in designing the solar arrays and will take part in their installation as well.

The solar power systems will allow the customer to achieve energy cost savings of between 75% and 100% and thus reduce the need to buy about 11 GWh of power from the grid each year, Renovit said.

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