Green City Founds Branch Office in Italy
With the founding of Green City Italia Srl, the Munich-based energy and transport company is expanding its presence in the Italian market for renewable energies. Green City AG has been active in Italy since 2013 and has implemented numerous power plant projects. The activities in the fields of hydropower, wind power and photovoltaics are now being bundled locally.
The managing directors of the Italian subsidiary based in Bolzano are Christopher Winter and Markus Vogel: “On the one hand, the establishment of our own local company is the logical consequence of our long presence in Italy,” explains Vogel. “On the other hand, we are expecting a strong boost in the solar sector. So now is exactly the right time to become even more present here.” Green City Italia Srl was able to secure four new solar projects with a total volume of around 80 MW in recent weeks, with more to follow. The approvals are to be granted in the course of the coming year. Just like in Spain, the construction of solar plants without feed-in tariffs is economically feasible in Italy due to competitive electricity production costs.
In developing the projects, Green City Italia Srl assumes the function of project developer and general contractor for energy projects and works closely with local partners. The company will benefit from its many years of market knowledge and a stable network in the expansion of its business activities. Following the acquisition of the Vallesina hydroelectric power plant in 2013, Green City has acquired or realised a total of eight further hydroelectric power plants, two more are currently still in the realisation phase. Wind power projects followed staring in 2017, solar projects from 2018 onwards.
In addition to the headquarters in Munich and a branch in Toulouse, France, Italy is currently the third location where Green City AG is represented with its own branch.