Renewables investor Sosteneo has partnered with Edison, Saipem, and Invitalia on the Puglia Green Hydrogen Valley initiative.
Sosteneo, on behalf of clients, will take a 40% stake in the project alongside co-shareholders Edison (45%), Saipem (10%), and D’Italia (5%, subject to obtaining the necessary ministerial authorisations).
The initiative involves 260MW of solar generation capacity and 160MW of electrolysis capacity to produce green hydrogen in the areas of Brindisi and Taranto in the Puglia region of Italy.
Through DRI D’Italia, a company 100% owned by Invitalia, the aim is to use the green hydrogen to decarbonise the steel-making process at the Taranto steel plant and a consortium of other Italian steel mills, known as CEIP.
The initiative will be delivered through a special purpose company, Puglia Green Hydrogen Valley, which was originated by Alboran Hydrogen, the seller.
Umberto Tamburrino, Managing Partner, CEO and CIO Europe at Sosteneo, said: “We are proud to be able to contribute to the decarbonisation of two of the country’s largest industrial steel hubs with a key infrastructure for economic growth at local and national level.
“We strongly believe in investing in the energy transition with the aim of combining long-term returns for our investors and at the same time contributing to the transformation of the global energy system.”
The project is consistent with Sosteneo’s strategy of “investing in greenfield infrastructure related to the energy transition, including bespoke solutions for the decarbonisation of industry, to deliver positive sustainability outcomes and attractive risk-adjusted return potential for the benefit of clients”.