Innovo Group and Solarfields subsidiary SF Grid Parity have formed a joint venture to develop 300 solar farms in Italy and two energy storage projects.
The JV, Innovo SF, is 51% owned by Innovo and 49% by SF.
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Solarfields Sette will act as developer for the pipeline projects.
The initial pipeline includes 18 photovoltaic projects under development in Sardinia, with a total capacity of approximately 83MW, as well as two storage plants in Sicily with a total capacity of 100MW.
Law firm Watson Farley & Williams advised Solarfields Group on the joint venture and development agreement.
Legance acted as Innovo’s legal counsel.