The Italy-based company celebrates an important milestone in its business development, consolidating more than 60 percent capacity in the project pipeline.
With 32 projects at an advanced stage, GreenGo Srl, an Italian company based in Bologna specialising in renewable energy development, marks the milestone of 1 GW of capacity routed in the authorization process. Thanks to the activity launched in 2018, GreenGo’s pipeline has a total of 74 projects aimed at the leveraging of clean energy for a total capacity of 1.6 GW, becoming a benchmark for the development of utility-scale green power plants, thanks to a successful strategy driving an in-house multidisciplinary engineering team and a path of proactive involvement of communities and municipalities affected by the industrial initiatives.
The dynamic growth and expansion of the business are the result of a close collaboration with Eiffel Essentiel, a private equity fund and a major player in the energy transition in Europe. The fund is managed by France’s Eiffel Investment Group, which in 2022 carried out an initial operation to capitalise GreenGo for 7 million euros to finance the development activity.
“Compared to the 1,000 MW with ongoing permitting, there are 12 projects that have positively passed the EIA for a total of 423 MW and, of these, 162 have already been dismissed with the concluding Sole Authorization or PAUR permit,” says Eng. Fabio Domenico Amico, Director of Development and Engineering at GreenGo, who continues: “More than half of the MW of this first milestone comes from the agrophotovoltaic sector (57%), in which GreenGo confirms its vocation; the advanced pipeline also underscores our multi-tech character: in fact, we have submitted projects for wind (27%), storage (12%) and ground-mounted photovoltaic (4%) plants.”
GreenGo’s total under-development pipeline of 1,630 MW spans 7 different Italian regions, from Sicily to Veneto, including Emilia-Romagna. Southern Italy is still the leading territory of today’s company activities, with Sicily in the lead, followed by Puglia and Calabria; the most recent developments in the first four months of the year see an increasing involvement of the regions of Central-Northern Italy with 12 projects for a total of 127 MW developed mainly with simplified authorization procedures.
“We are proud to have reached 1 GW of projects at an advanced stage of development. The driving factors that successfully push us along this journey are the excellence of the system of technical and managerial skills and an organisation with 25 employees and a dozen partners and collaborators, which now stands out, also in terms of size, among the leading national platforms,” says Giuseppe Mastropieri, CEO of GreenGo; “The success rate of GreenGo’s projects, in terms of actual installable power, is 91%, calculated on the 474 MW that passed the Environmental Impact Assessment, a rate that makes GreenGo one of the most reliable developers in the renewables sector.”
The CEO narrates an upcoming season of growth for GreenGo, emphasising its strategic steps and evolutions: “The agro-photovoltaic sector has played a key role in exceeding the 1,000 MW quota, but shortly we foresee further significant growth in the photovoltaic and wind fields, also thanks to the high level of feasibility of our initiatives, as of the quality of the stock of more than 1,300 MW of connections and an extremely competitive generation cost (LCOE = Levelised Cost of Electricity). Therefore, GreenGo has ambitious plans for the future.”
About GreenGo
GreenGo S.r.l. is a company specialising in the development of renewable energy. Launched in 2018 by a group of recognised professionals, GreenGo is now composed of a growing multidisciplinary team of about 30 qualified people (25 employees + 5 exclusive agents/partners) and aims to become a leading player in the Italian green economy. As part of the FIMM Group, GreenGo aims to gather the best talent in the field, contributing to creating an Italian and international professional hub. Increasing the value of renewable energy in Italy and Southern Europe by making cutting-edge green projects possible and feasible is the vocation that drives GreenGo’s activities.