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JUWI acquires controlling stake in Italian Photovoltaic project development company

JUWI has finalized the acquisition of 70 percent shares in GEMdev S.r.l., an Italian company focused on the development of greenfield solar PV projects in the North of Italy.
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December 05, 2022 | International | Company

International project developer JUWI, through its Italian subsidiary Juwi Energie Rinnovabili S.r.l., has finalized the acquisition of 70 percent shares in GEMdev S.r.l., an Italian company focused on the development of greenfield solar PV projects in the North of Italy. GEMdev S.r.l. is specialized in the development of conventional and agro photovoltaic projects and is targeting development of a project pipeline exceeding 700 Megawatt (MW) within the next five years.  With this acquisition, JUWI further consolidates its presence in Italy where it has been present since 2007.  Since then, the renewable energy specialist realized projects with an installed capacity of more than 85 MW.  It currently manages a pipeline of more than 350 MW and operates more than 30 MW for its shareholders and third parties.

Commenting on the acquisition, Daniele Moriconi, Managing Director of Juwi Energie Rinnovabili S.r.l., says: “The Italian PV-market is probably one of the most exciting and promising markets in Europe right now as it offers many business opportunities from private PPAs to direct-wire offtakes.  The acquisition is an important milestone in our growth strategy and in realizing more solar PV projects in Italy.”

Massimo Betti, one of the GEMdev S.r.l. shareholders, says “This transaction consolidates the strong business relationship between the parties started in 2018 and further boosts GEMdev capability to deliver quality PV projects in our country”.

2022 started very successfully for JUWI Italy, being among the winners in the seventh renewables auction launched by GSE in accordance to the so called “FER decree” of 2019 with two solar projects located in Piacenza (Emilia-Romagna region) and one solar project located in Carlino (Friuli-Venezia Giulia region) for a total capacity of 12,2 MWp.

Besides these projects, JUWI Italy has also successfully recently obtained authorizations to build and operate further projects for a total capacity of approx. 45 MWp. The company is also focusing on EPC and O&M activities.