Octopus Energy’s generation arm is investing in rooftop solar developer Coralsun, a new business aiming to expand clean-energy capacity in Italy.
Coralsun plans to create 150 megawatts of new solar projects in the next five years, with an initial focus on Northern Italy. The company is targeting hundreds of energy-hungry commercial and industrial SMEs, such as logistics hubs, manufacturers and warehouses. The installations will be free for the companies taking part. Businesses will be able to lock in fixed prices for solar energy over the long term, allowing them to do away with fluctuating energy bills. Due to Italy’s streamlined permitting process for smaller distributed-energy sources such as these, the projects will be able to quickly connect to the grid.
The announcement comes as Italy targets 65 percent of its electricity to come from renewable sources by 2030.
“We’re ready to help Italian commercial and industrial companies on their energy transit