Dutch-Norwegian floating solar developer SolarDuck, Italian independent asset manager Green Arrow Capital and New Developments s.r.l., an Italian developer, have agreed to collaborate on the development of an offshore hybrid wind-solar farm in the Gulf of Taranto offshore Italy.
The three companies have agreed to collaborate on the development of the landmark 120 MWp offshore floating solar photovoltaic (OFPV) farm integrated with 420 MW floating offshore wind (FOW) to be located off the coast of Corigliano-Rossano in Calabria.
The Corigliano offshore hybrid wind-solar farm, planned to feature 28 floating wind turbines, will have a combined capacity of 540 MW. The OFPV farm alone will generate more than 160 GWh of solar energy per year.
SolarDuck has been selected as the exclusive technology partner for the project and the agreement is said to mark the company’s entry into the Italian market.
“With the current momentum, we believe this is a unique opportunity for the offshore renewable energy industry to help shape a favorable regulatory framework and facilitate the scaling of OFPV. This is not just important for Italy, but also for other countries in the Mediterranean. Our collaboration with New Developments and Green Arrow Capital can also serve as a catalyst for OFPV in Italy,” said SolarDuck CEO Koen Burgers .
The project is part of Green Arrow Capital’s Infrastructure of the Future Fund (GAIF), which invests in renewable energy and digital infrastructure in high-potential markets in Europe.
“As pioneers of renewables in Italy, we continually strive to lead the way, exemplified by our innovative offshore projects. These cutting-edge infrastructures not only generate green energy contributing to sustainable energy transition and independence but also demonstrate their complementarity to onshore installations, preserving precious land resources,” said Founder and CIO of Green Arrow Capital Group Daniele Camponeschi .
“The project is currently under permitting with an estimated COD in 2028. We are positive that this is a project that will materialise and have impact on the regional economy in Italy,” CEO Giovanni Guzzo , said.
According to SolarDuck, Italy has been actively laying the foundation for offshore renewables with measures announced towards simplification of requirements for offshore wind projects. The Decree FER2 is soon expected to introduce mechanisms to promote renewable energy projects including OFPV, which will enable the country to tap into its maritime potential and play a key role in the EU’s aggressive ambitions for decarbonisation.