ALTÉRRA, the UAE’s $30 billion climate investment vehicle, has announced a €50 million ($57 million) commitment via its ALTÉRRA Acceleration Fund to Absolute Energy, an Italian renewable-energy platform.
The co-investment, made alongside I Squared Capital, will help accelerate the development of an initial active pipeline of 1.4-gigawatt projects across Italy. ALTÉRRA estimates that this 1.4-gigawatt pipeline could eliminate up to 380,000 metric tons of carbon dioxide equivalent emissions annually.
Absolute Energy focuses on the rapid development of multiple commercially viable small- to medium-scale solar projects across Italy, leveraging the country’s supportive regulatory environment. Through this initial buildout of 1.4 gigawatts of solar and battery storage capacity, along with a broader development pipeline of more than 6 gigawatts, Absolute Energy is positioned to become a next-generation independent power producer, playing a key role in advancing Italy
