Infrastructure asset manager Tages Capital SGR, a subsidiary of Italy-based Tages Group, has acquired the rights to build a 4.5 MW ground-mounted solar power plant at an unspecified location in the southern Italian region of Sicily.
The project will be completely unsubsidized and Tages Group will sell the generated electricity to the spot market.
The company said that this investment, which unlike other previous investments was made in a small-scale project, can be considered a residual investment within its large Italian solar portfolio with a total capacity of 370 MW. “In the next years, we will see an increasing number of these types of investments,” the Tages Group stated.
When built, the PV plant will become the country's first merchant PV project that pv magazine has tracked down to date. Unsubsidized solar has been so far developed in Italy through bilateral PPAs.
In recent years, the Italian solar market has seen an increasing number of private solar PPA announcements of late as well as new pipelines for grid-parity projects. However, the Italian market is still mainly driven by rooftop PV.