Italy’s PLT Energia And GGS Energy to Develop 1 GW RE Projects in Texas

UP To Provide Subsidised Solar Pumps To Over 50,000 Farmers Under PM Kusum

Italy-based renewable and energy storage company PLT Energia has announced that its subsidiary PLT Energy US Corp has entered into a joint venture with GGS Energy to develop more than 1 GW of renewable energy in Texas, United States.

According to a press statement, the joint venture’s first project will be the development and construction of its Indigo Project Phase I, located in West Texas totaling 330 MW including 150 MW of PV and 180 MW of storage. The construction for the project is expected to commence in June 2024. The newly formed joint venture company, PLT US Solar 1 LLC, is 80 percent owned by PLT Energy US Corp and 20% owned by GGS Energy, added the statement.

“This dynamic JV with GGS Energy offers PLT a platform for international growth into the U.S. Market and advances our long-term goals of being a leader in the realization of renewable energy projects globally,” stated Pierluigi Tortora, Chairman of PLT.

PLT’s CEO Stefano Marulli added, “PLT Energia remains focused on value creation across our entire renewable portfolio as we continue to pursue growth opportunities that underpin our strategy of geographical diversification.”

Further, GGS Energy Chairman Yaniv Blumenfeld said, “We are thrilled to embark on this journey with PLT Energia.” He also added, “In aligning with PLT, GGS Energy is not just forming a partnership; we are joining forces with a team whose trust and support reflect a deep alignment with our mission and values.”

On the other hand, Texas broke a new record in the solar sector when the Electric Reliability Council of Texas (ERCOT) grid generated a peak of 16.7GW of electricity from solar sources on 13th February. The news follows several record-breaking days for the industry, with the ten most productive days in terms of solar power generation all occurring this year, according to the Gridstatus tracker.