Soltec’s Powertis expands their international portfolio through various new developments in prime Italian regions. This announcement follows their recent joint venture with Total in Spain, which together has bolstered their international portfolio to more than 2GW of solar capacity between Italy and Brazil’s pipeline.
Powertis announced their plans to enter the Italian solar market on May 7, 2020. These projects will be located in Basilicata, Puglia, Sicily, Sardinia and Lazio, which are promising regions of Italy. Italy is pursuing a goal to produce more than 30 GW of solar capacity by 2030 and Powertis is hoping to help them achieve this. Powertis plans to reach 1 GW of solar assets in Italy by 2030, including their new developments in the pipeline between Italy and Brazil. These projects increase their international portfolio to exceed 2 GW, while their current portfolio adds up to 500 MW.
Powertis is part of Soltec Power Holdings, which is a Spanish based company driven to develop and invest in large scale solar projects within Europe and Latin America. Their recent projects in Italy will bolster their portfolio to reach this goal and build their international presence. Roberto Capuozzo is the Country Manager in Italy who explained the opportunity they have capitalized on saying “Italy is a great strategic opportunity for the company in terms of growth and international development, being this one of the markets with the greatest potential in Europe for the photovoltaic sectorâ€. Powertis is run by CEO and cofounder Pablo Otin, who is also working ambitiously to achieve these goals of growth with several other projects in similar areas.
Back in the beginning of February, Powertis also began a co-development venture with Total. Total is an energy company based in France, and although they focus on all types of energy production, they are expanding beyond the petroleum and natural gas industry into the renewables market. This joint energy sales agreement gives Powertis the ability to produce up to 1GW of solar energy in Spain, which will contribute to the reduction of about 750,000 tons of CO2.
Powertis continues with its strategy of growth in the development of photovoltaic solar energy projects in the bilateral PPA market. The company already has a portfolio of projects, including identified opportunities, in different phases of development in Spain that exceed 950MW of capacity. The details of this joint venture allow Total the right to purchase solar projects built by Powertis until February 2021. Powertis will remain the leader of these developments through this time period and Soltec, their partner company, will remain the supplier for all equipment and aid needed for the various phases of the development.
With the combination of these two projects, Powertis is making strides to hit their solar goals despite the current fluctuating economic situation. Both Spain and Italy are ideal locations to continue their international growth, and by working towards the goals both countries have set for solar power they are able to have their support on these ventures.
