Dublin, 25th January 2023
Aer Soléir, a Dublin based, Irish Company focused on multi-technology renewable energy development, construction and operation with a particular emphasis on utility-scale onshore wind, solar, and energy storage projects throughout Europe and Valleverde Energia Srl an integrated engineering services company involved in the development, construction and operation of renewable energy plants with a strong greenfield wind energy development pipeline, have signed a co-development agreement to realise up to 260 MW of onshore wind projects, split across five locations in Italy.
In adding this partnership to its existing business, Aer Soléir is now actively developing over 2GW of renewable energy projects across Europe. Throughout the development services agreement period, the collaboration will enable Aer Soléir to strengthen its presence and commitment to the Italian market and allow Valleverde to incrementally grow its development reach. Chiomenti Milan acted as legal advisor to Aer Soléir on the transaction.
Italy has received the largest share of the EU’s pandemic recovery fund. Around a third of the sum received is earmarked for supporting energy and climate objectives. Recently Italy’s minister for energy transition, Roberto Cingolani, confirmed that he had set a minimum target of 70 per cent renewable electricity by 2030. In order to achieve that target, it will be necessary to develop large scale battery storage plants concurrently with renewable energy technologies.
Andy Kinsella, Aer Soléir CEO and Founding Partner, said: “Aer Soléir is committed to accelerating the development of wind, solar and battery storage across Europe. We are pleased to be partnering with an agile and adept developer on the development of five new projects in Italy. Valleverde bring strong local expertise and knowledge to this collaboration enabling Aer Soléir to expand our presence in the Italian market. The addition of this transaction brings to 2GW the project pipeline that Aer Soléir is delivering across multiple European markets.”
Catia Cerone, Valleverde Energia CEO, said: “We are very happy to have closed this important agreement for the development of 260 MW in Italy and count Aer Soléir, a leading European company operating in the field of wind, photovoltaic and battery storage, among our business partners. Valleverde Energia aims to become one of the leading developers in wind energy on the national scene, thanks to our accumulated technical experience and strong local presence. In the future, we hope to enhance our partnership with Aer Soléir in our mutual participation in the energy transition of our country.”