Italian energy giant Eni is teaming up with compatriot companies Terna, Fincantieri and Cassa Depositi e Prestiti bank to set up a wave energy project developer.
The first phase of the partnership plan will see the companies develop a pilot project using the Inertial Sea Wave Energy Converter (ISWEC) near Eni’s Prezioso platform in the Strait of Sicily in the second half of 2020.
They will also develop a business model and define a deployment plan for Italy.
The second phase will see the parties work on the formal constitution of the new company and devise a plan for the production and development of activities starting in Italy’s minor islands first and then abroad at a later stage.
Eni chief executive Claudio Descalzi said: “This agreement fits perfectly in our strategic plan for decarbonisation and applies to Eni’s remarkable experience in both offshore activities and the management of highly complex projects.
“On the basis of those skills, we set up and installed the first industrial application of ISWEC in record time for this sector.
“The collaboration with three Italian excellences like CDP, Terna and Fincantieri, will allow to make available an outstanding asset of know-how and therefore accelerate the industrialisation process of this technology, unlike other similar projects.”
Cassa Depositi e Prestiti will work with the other parties on managing the institutional relations with national and local stakeholders, as well as evaluate the economic and financial aspects and the most suitable forms of financial support.
Cassa Depositi e Prestiti chief executive Fabrizio Palermo said: “This agreement, as the result of collaboration among companies in which the CDP Group has a stake, intends to develop an extremely innovative technology.
“This system will generate value both locally and for the whole community, and is consistent with our strategy that aims at gradually directing our group’s activities and investments towards the support of the energy transition and against climate change”.
Fincantieri will offer its industrial and technical shipbuilding skills.
Fincantieri chief executive Giuseppe Bono said: “This large-scale industrial and technological cooperation, that sees our company working together with the likes of Eni, Terna and CDP, opens a new frontier in Italy for the utilisation or renewable energy, while managing to enhance our Country’s morphology at the same time.
“Fincantieri is recognised as the leading authority in the naval and maritime field and we are confident that, thanks to the synergies among the parties, this state-of-the-art project will mark a turning point for the sustainable development of the country”.
Terna will contribute with its electric engineering know-how applied to help connect the projects to the national grid.
Terna chief executive Luigi Ferraris said: “The initiative launched in association with Eni, CDP and Fincantieri will allow us to further share our experience and know-how in innovation, technology and research applied to the energetic transition.
“It’s an important partnership that, using new enablers, will help to boost our country’s role within the European energy system, in an increasingly decarbonised and sustainable scenario.”