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Italy’s wind & solar capacity set for significant growth by 2030, says S&P Global Ratings

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Tim Pricehttps://worldofrenewables.com/author/worenewables/
Tim is an original member and founder of World Of Renewables. Since 2005, he has steered WoR to an industry leader within the field of renewable energy news reporting. Tim is now Vice-Chairman of WOREA and played a major role in the merger with WREA.

Over the next few years, Italy’s gas-dominated power market will transform as wind and solar capacity catches up and coal-fired assets are phased out. This is according to a new S&P Global Ratings report analysing Italy’s National Energy Strategy, which aims to increase the share of renewable sources to 30% by 2030.

  • Wind and solar capacity are forecast to grow significantly by 2030, with predicted increases from 11GW (2018) to 18.4GW (2030) and 21GW (2018) to 50.9GW (2030) respectively, and a coal phaseout plan translates to a reduction of 2GW in coal capacity by 2024 and a further 6GW in 2025;
  • S&P Global Ratings expects Italy to retain its position as the premium market in terms of power prices in Western Europe to 2025 (partly thanks to the country’s large gas capacity);
  • Auctions for about 7GW of renewable power plants are expected between 2019-2021 under the form of contracts for difference, which will insulate new wind and solar photovoltaic (PV) plants from merchant risk and support the predictability of long-term project cash flows. Download the report..

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