Edison, Webuild team up to develop hydroelectric storage projects
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 10 2024
0mins
Source: reuters
- Partnership for Hydroelectric Storage Projects: Edison and Webuild have formed an industrial partnership to develop hydroelectric storage projects in Italy.
- Goal of the Alliance: The goal is to create at least 500 MW of pumping capacity by 2030 through upgrading existing hydroelectric plants.
- Investment Plans: The agreement aims to attract investments of around 1.2 billion euros in southern Italy, involving private investors.
- Energy Transition in Italy: Italy is working towards reducing reliance on fossil fuels and plans to build 10 GW of new energy storage by 2030.
- Focus Areas: The alliance will concentrate on constructing two hydroelectric storage projects in Basilicata and Sicily to support renewable energy use.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
