Renewables at the center of Edison's strategy

The company aims to accelerate growth in renewable sources with the aim of bringing wind and photovoltaic capacity from the current 1.1 GW to 4 GW by 2030.

Milan, June 16, 2021 – Edison, in line with the Italian Integrated Energy and Climate Plan (PNIEC) and the European Green Deal, announces it will increase its installed wind and photovoltaic capacity from 1.1 GW to 4 GW by 2030. The company therefore confirms its role as a responsible operator, leader in the Country's energy transition, with an industrial plan that has one of its strategic development pillars in the renewable generation, together with energy efficiency, sales and services for end customers as well as gas and green gas activities.

A development plan with a significant relevance for the Italian economy, which means 3 billion euro investments by 2030, in order to support the energy transition and to reach the decarbonization targets.

The growth of installed renewable capacity, which will also be dedicated to the production of green hydrogen, will leverage Edison know-how and skills in engineering, development, Operation & Maintenance activities of renewable energy plants. The industrial plan will be implemented mainly through organic growth, in particular existing wind farm repowering and photovoltaic green fields, and through selective M&A operations.

To ensure the safety and adequacy of the Italian electric power system, Edison's growth plan also includes the development of the necessary flexibility tools, such as hydroelectric pumping and storage batteries, as well as the latest gas generation which will continue to play a complementary role, offsetting the typical intermittency of non-programmable renewable sources.

Furthermore, in light of the ambitious growth objectives in renewables, Edison announces that it is studying the development of a possible partnership, for a minority stake of its wind and photovoltaic activities grouped in Edison Renewables, with a long-term financial partner, which shares the industrial project and is committed to the energy transition challenges.

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Public disclosure requirements under CONSOB Resolution no. 11971 of 14 May 1999, as amended.

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