JUWI completes the acquisition of 70% of GEMdev, an Italian company specialized in photovoltaic development.
Investments in photovoltaics
JUWI strengthens its already strong presence in Italy. The company uses its Italian subsidiary to acquire 70% of the shares of the photovoltaic company GEMdev. The company specializes in the development of photovoltaic projects in northern Italy.
More specifically, it focuses on conventional and agricultural solar projects. It is currently aiming to develop a portfolio of projects exceeding 700MW in the next 5 years. JUWI has been firmly established in Italy since 2007.
With this acquisition, JUWI consolidates its presence in the country. The company has projects with an installed capacity of 85MW. It currently manages a project pipeline of over 350 MW. The company operates over 30 MW for its shareholders and third parties.
Development prospects in Italy
JUWI’s Managing Director, Daniele Moriconi, considers the Italian PV market to be one of the most promising in Europe. Indeed, it offers many commercial opportunities, including very interesting PPA (Power Purchase Agreement). This acquisition continues JUWI’s growth strategy in the Italian photovoltaic sector.
The company was, in fact, among the winners of the seventh renewable energy auction of 2019. It has two solar projects located in Piacenza and Carlino. These two projects represent a total capacity of 12.2MWp.
The company should continue its development in Italy. In fact, JUWI also obtains authorization to build and operate other projects. Indeed, the company aims at a total capacity of 45MWp.
