Renvoit to Build 10 MW of Solar Farms for Fincantieri Plants

Fincantieri and Renovit, a Snam subsidiary and an associate company of CDP Equity (CDPE) that operates in the energy efficiency sector, have signed an agreement for the construction of solar farms at 5 Italian Fincantieri production sites, with the aim of ensuring savings on energy bills and contributing to the broader objectives of reducing Greenhouse Gases (GHG) emissions.

These contracts envisage the supply, installation and management by Renovit of 22,000 solar panels for a duration of 15 years at Fincantieri’s shipyards in Marghera (Veneto), Monfalcone (Friuli-Venezia Giulia), Riva Trigoso and Sestri Ponente (Liguria) and at the engine production plant in Modugno - Bari (Apulia), of its subsidiary Isotta Fraschini Motori. Renovit acted through its wholly-owned subsidiary TEP Energy Solution. Fincantieri SI, a Fincantieri Group company active in the field of electrical, electronic and electromechanical industrial plants and components, which has already contributed to the design of the plants and will participate in their construction, will also be involved.

The 22,000 solar panels will cover an area of more than 50,000 square metres, equivalent to about 6 football pitches, and will have a total capacity of about 10 MW. The plants will enable Fincantieri to achieve energy cost savings by means of the self-consumption of the energy produced, estimated at between 75% and 100%. In doing so, the company will reduce the need to purchase around 11 GWh of energy from the grid each year, and the plants involved will increase their energy independence, an increasingly relevant factor to the Group’s strategy.

These agreements are part of the energy efficiency strategy for the reduction of GHG (Greenhouse Gases) emissions already initiated by Fincantieri within its production sites, with initiatives such as the purchase of energy from certified renewable sources and relamping activities, i.e., the adoption of highly efficient and remotely managed indoor and outdoor lighting systems as well as the introduction of highly efficient and functional ventilation and compressed air generation systems.

The collaboration with Fincantieri is part of Renovit's strategy to decarbonise the country through energy efficiency projects for companies, condominiums, the service industry and the public administration. For each of these sectors, the Snam subsidiary in which CDPE holds an interest, implements initiatives aimed at upgrading plants and facilities with a net zero perspective.

This agreement, which takes the form of a transaction with related parties insofar as the companies involved are under the common control of the Cassa Depositi e Prestiti (CDP) Group, was set in compliance with the applicable legal and regulatory frameworks.