The Italian prime minister has presented the €248bn National Recovery and Resilience Plan (PNRR) to the Chamber of Deputies. The reform program will be submitted to the European Commission on 30 April 2021 as part of the Next Generation EU, a €750bn temporary recovery instrument (2021-2027) aimed at addressing the economic crisis caused by Covid-19.
The country allocated €68.6bn for "Green Revolution and Ecological Transition" expenditure, including €25.2bn for the energy transition and sustainable mobility and €21.9bn for energy efficiency and building renovation. The Italian authorities plan to invest €4bn to enhance the production capacity by 6 GW and digitise the country’s power grid. In addition, Italy earmarked €1.1bn to build 2 GW of solar photovoltaic plants deployed on crop cultivation and €680m to develop 200 MW of offshore projects.
Finally, Italy intends to invest €3bn in hydrogen production and €6bn to decarbonise all sectors. The country aims at reducing its greenhouse gas (GHG) emissions by around 60% by 2030 compared to 1990 levels. The government plans to add 40 GW of renewable capacity to accelerate decarbonisation by 2050.
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