SolarDuck, Green Arrow Capital Join Hands For 540 MW Hybrid Offshore Wind-Solar Farm In Italy

SolarDuck, Green Arrow Capital Join Hands For 540 MW Hybrid Offshore Wind-Solar Farm In Italy

Dutch-Norwegian cleantech company SolarDuck, Italian Independent Asset Manager Green Arrow Capital, and Italy-based developers New Developments s.r.l have agreed to collaborate on the development of 120MWp Offshore Floating Solar Photovoltaic (OFPV) farm integrated with a 420MW Floating Offshore Wind (FOW) project in Corigliano, Calabria, Italy.

According to a press release by SolarDuck, the project will install SolarDuck’s unique elevated platform technology that allows PV panels to be deployed in significant wave heights whilst maintaining a safe working environment for access and maintenance and minimising environmental impact. In addition, the collaboration will also allow the harnessing of the complementarity of wind and solar energy resources, stated the prss release.

“With the current momentum, we believe this is a unique opportunity for the offshore renewable energy industry to help shape a favorable regulatory framework and facilitate the scaling of OFPV. This is not just important for Italy, but also for other countries in the Mediterranean. Our collaboration with New Developments and Green Arrow Capital can also catalyze OFPV in Italy”, says SolarDuck CEO, Koen Burgers.

The project is part of Green Arrow Capital’s Infrastructure of the Future Fund (“GAIF”), which invests in renewable energy and digital infrastructure in high-potential markets in Europe. Founder & CIO of Green Arrow Capital Group, Daniele Camponeschi, said “As pioneers of renewables in Italy, we continually strive to lead the way, exemplified by our innovative offshore projects. These cutting-edge infrastructures not only generate green energy contributing to sustainable energy transition and independence but also demonstrate their complementarity to onshore installations, preserving precious land resources.”

“The project is currently under permitting with an estimated COD in 2028. We are positive that this is a project that will materialise and have impact on the regional economy in Italy”, CEO Giovanni Guzzo added.

The Corigliano offshore hybrid wind-solar farm will be located in the Gulf of Taranto off the coast of Corigliano-Rossano in Calabria. The farm is planned to feature 28 floating wind turbines for a wind capacity of 420 MWp in addition to a 120 MWp OFPV farm for a combined 540MW of capacity. The OFPV farm alone will generate more than 160GWh of solar energy per year, read the press release by SolarDuck.