The European Commission has approved a €35.5bn Italian scheme to support the development of a total of 4,590 MW of new renewable capacity for power generation in Italy. The measure, approved under EU State aid rules, will run until 31 December 2028 and will be financed through a levy included in the electricity bills of final consumers.
The scheme will support the construction of new plants running on innovative technologies, namely geothermal energy, offshore wind power (floating or fixed), thermodynamic solar, floating solar, tidal, wave and other marine energy as well as on biogas and biomass.
Under the scheme, the aid will take the form of a two-way contract for difference for each kWh of electricity produced and fed into the grid, and will be paid for a duration equal to the useful life of the plants. The projects will be selected through a transparent bidding process, where beneficiaries will bid on the incentive tariff needed to carry out each individual project. They should be commissioned within 31 to 60 months.
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