Italy railway to invest €1.3 billion in solar

Italian railway to invest €1.3 billion in solar

Italy

MILAN, December 23, 2024 – Italy’s state railway company, Ferrovie dello Stato, plans to invest EUR 1.3 billion in solar to cover 19% of its energy needs by 2029, Reuters reported on Sunday.

The company envisions not operating the solar plant or plants but serving as a partner or offtaker.

It would likely create a dedicated corporate vehicle to carry out the investment, CEO Stefano Donnarumma was quoted as telling local media outlet Il Sole 24 Ore.

“We are not interested in running [the plants]. But we could sign contracts to use them for a set period, or we could also buy existing plants, maybe with a partner,” Donnarumma said.

The company expects to draw interest from potential partners and plant operators. It has already begun talks with banks to secure financing.

Photo courtesy of Ferrovie dello Stato.