Indeed, the traders who act as market operators shall release, in favour of the Electricity Market Manager, specific first demand bank guarantees or non-interest-bearing deposits depending on the market where they act. August 7 (Renewables Now) - Danish renewables developer European Energy A/S has obtained EUR 94.5 million (USD 111.9m) in debt financing to support a 121.5-MW solar park project in Italy. This kind of off-take arrangement may, however, expose the producer to the risk of trader’s insolvency. In the absence of subsidies, projects are largely exposed to volatile merchant prices – a key credit risk when financing new projects. Wind and PV projects will be competing for the same incentive, which is a novelty under the Italian framework, with project selection to be based on discount offered. Depending on the size of the projects, these are the public procedures to be carried out prior to constructing and operating a renewable energy plant.As for the trade of electricity and environmental attributes from renewable energy projects, no public authorizations are required. Long-term purchase agreements (PPAs), which set fixed prices, reduce the uncertainty about market volatility. While the cost of renewable investments and maintenance has fallen significantly over the last years, feed-in tariffs for PV ended in 2013 in Italy. French bank Natixis SA (EPA:KN) was the structuring mandated lead arranger and sole underwriter and hedging bank for the deal, the lender … While large portfolios can mitigate risk through geographical diversification, this exposes single assets to high-impact risk.Likely to go some way to promoting renewable investment and helping Italy reach its 2030 targets are the seven competitive auctions to be held between 2019 and 2021, which include up to 4.8 GW in new PV and wind power plants, as well as 140 megawatts (MW) of hydro, biomass, and geothermal plants, and 490 MW repowering investments. There have been a number of cases under previous feed-in tariffs where irregularities were found in plants’ authorizations after some years of operation. See below for … Wind capacity is set to undergo similar proliferation – from 11 GW to 18.4 GW.
The proposed incentive of contracts for difference (CFD) – an established mechanism in other European countries, but a novelty for Italy – may make all the difference in insulating solar and wind plants from merchant risk. The Group while concentrating mainly on wind energy, is also moving towards solar, biomasses and merchant line, with a portfolio projects of 340 MW. Some authorization risk remains, too. According to this technical guide, the GSE shall oversee all decommissioning procedures related to PV plants.Moreover, in order to cover the risks associated to the potential breach of decommissioning obligations, the titleholder of the relevant renewable plant shall provide the region where the renewable energy sources project is located with a first demand bank guarantee. The CFD mechanism also means that for the first time, auctions may generate revenue for the GSE – reducing the risk of retroactive changes in the regulatory framework, compared to the 8% cut in the feed-in tariff applied in 2014 to reduce the tax burden on final consumers. For the construction of new renewable energy plants, investors must obtain all public permits and authorisations required under Italian law. Of course, outside the opportunities offered by the auctions, all’s not lost. 23, EU and extra-EU companies that intend to acquire Italian strategic companies in the energy sector, have the duty, under certain circumstances, to notify the Italian government. Pages in category "Energy companies of Italy" The following 3 pages are in this category, out of 3 total. With the size of auctions through to 2021 estimated at 7GW, Italy will require levers beyond the upcoming auctions to meet its lofty 2030 targets. The two policies are “Conto Termico 2.0” and Feed-in Premium for renewable energy sources other than photovoltaic. In any case, the owners of renewable energy plants must comply with the procedures set out by the Energy Services Manager (GSE) and the Electricity Market Manager, depending on the market where they operate.The legal requirements for the decommissioning of renewable energy projects are set out in the Legislative Decree No. Italy’s historical success in surpassing renewable targets has set the bar high, but the generous government subsidies and resultant capital investment that boosted past levels are both lacking.

When executed between the energy producer and a private company, such long-term contracts are not subject to specific templates or public regulations but only to negotiations between private parties.The government authorisations required to operate a renewable energy project are all dealt with in the Single Authorisation Procedure or in the alternative simplified procedure (PAS). This is further supported by the fact that the reference price in the auctions for plants above 1MW is closer to the market price than under previous incentive plans, reducing the risk of the plan becoming unsustainable. Therefore, the producer usually requests the trader to a provide a first demand guarantee from a reputable bank for the due performance of the latter’s payment obligations under the relevant off-take agreement.The long-term PPAs are not the main tool for the offtake of the renewable energy. Nonetheless, the country is taking steps to promote its new energy targets: seven auctions are to be held from 2019 to 2021, with a contract for difference mechanism that will remove all exposure to market risk by ensuring a unitary tariff; a reference price for larger plants that is closer to market price than under previous incentive plans, reducing the risk of retroactive changes in the regulatory framework; and incentives that assist smaller plants.

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