Peridot Solar, a portfolio company of British investment firm FitzWalter Capital, will seek to develop and build a combined 5 GW portfolio of solar projects in Italy and the UK by 2026 to help reduce Europe's reliance on Russian gas.
The parent company said earlier this week that the startup already has more than 1 gigawatt of solar photovoltaic (PV) projects in the pipeline in both countries, and plans to start construction work on a 180 megawatt plant this year.
In Italy, Peridot Solar plans to install a 120-megawatt PV park, while its UK plans to build a 60-megawatt plant. The exact location of the project and details of the required investment were not disclosed.
Italy's Radiocor reported that two 33-megawatt power plants in Lazio and Sardinia are about to start, and construction work on a 30-megawatt power plant in Fimesanto will begin in the coming weeks. Another 30-megawatt plant is expected to generate electricity in Carbonia in July.
The London-based company, which was set up to develop, build and operate European solar parks, pointed to investment in solar PV as a mainstay in tackling climate change issues and reliance on natural gas. Solar energy can reduce energy dependence on Russia and generate clean energy in the short to medium term. To take advantage of this opportunity and be part of the solution, it is necessary to develop projects across Europe.
