SolarDuck, Green Arrow Capital and New Developments s.r.l. sign collaboration agreement for a grid-scale offshore hybrid wind-solar project in Italy

SolarDuck, leader in OFPV technology, Green Arrow Capital, leading Italian Independent Asset Manager in the alternative investment world, and New Developments s.r.l., one of Italy’s most experienced developers, have agreed to collaborate on the development of a landmark 120MWp OFPV farm integrated with 420MW Floating Offshore Wind (FOW).

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 minimizing environmental impact. In addition, the collaboration will also allow the harnessing of the complementarity of wind and solar energy resources.

“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 serve as a catalyst for OFPV in Italy”, says SolarDuck CEO, Koen Burgers.

The project is part of Green Arrow 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, says “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, says.