Edison and Webuild partner on major hydroelectric projects in southern Italy

In a strategic move to bolster Italy's energy security and promote environmental sustainability, Edison and Webuild have signed an industrial partnership to develop pumped hydroelectric projects in the regions of Basilicata and Sicily.

The cooperation between Edison and Webuild aims to optimise project implementation, fostering significant private investments estimated at approximately 1.2 billion euros (US $ 1.3 billion) in southern Italy.

The initiatives are key to Edison's long-term strategy aimed at enhancing the country's renewable energy capacity and storage solutions. Additionally, this collaboration will expand Edison's ambitious goal of increasing its installed green capacity from the current 2 GW to 5 GW by 2030.

The projects will also contribute to creating at least 500 MW of energy storage, a crucial element to prevent wastage of renewable energy during peak production periods and to ensure the stability of Italy's electrical grid.

Nicola Monti, CEO of Edison, emphasised the significance of this partnership, stating, “This agreement will create the foundations to safely build the energy transition, limiting Italy's exposure to depending on critical raw materials. It will relaunch the development of a highly strategic sector, where we stand as champions in Europe, with clear benefits for Italian economic development and the increase of renewable energy within the network, in line with decarbonisation goals.”

The planned projects involve creating new reservoirs and conducting substantial underground engineering work to enhance territorial compatibility. These efforts include upgrading existing reservoirs to ensure they are fully functional, safer, and capable of storing increased water volumes for various public uses, including drought mitigation.

Currently, the projects are undergoing approval procedures with the Italian Environment and Energy Security Ministry and related regional authorities. The aim is to participate in the initial competitive tenders organised by Terna, seeking new storage capacity through long-term supply contracts under the emerging Storage Futures Market framework.

Pietro Salini, CEO of Webuild, expressed readiness to leverage the company's extensive expertise, noting, “Creating virtuous systems of skill and resources with the entire production chain is key to creating the infrastructure works needed by Italy to remain competitive. Webuild is ready to deploy its premium know-how acquired from globally complex and innovative projects, like the Snowy 2.0 hydroelectric plant in Australia.”