(Corrigendum to the notification dated 20.02.2024)
Our subsidiary ESG Eko Agro Group has entered into a major agreement with Romelectro Investments to develop the first 170MWp of Agri-Photovoltaic (APV) across different sites throughout Italy; an extensive project which will enable ten farms to revamp their agricultural land while simultaneously generating green electricity via dual-use land.
The initial farms will be located in Tuscany, Calabria, and Basilicata, then extending to other regions such as Umbria, Emilia Romagna, and Puglia for a total portfolio of 405MWp over twenty farms and total estimated investment volume of EUR 420M.
With the agreement encompassing “Advanced APV” systems, particular focus has been placed on the latest European directives and goals – specifically on the EU Next Generation Program 2030 adopted in Italy with the PNIEC (Programma Nazionale Interatom per l’Energia e il Clima).
Eko Agro Group is very pleased to partner with Romelectro Group, a major EPC contractor in Romania and across international markets. Their extensive expertise and experience will play a key role in ensuring the entire energy chain – from production to transport, distribution to supply of electricity, ensuring Green Investments the necessary capacity and operational scalability to succeed.
Salvatore Toscano, CEO of ESG Eko Agro Group, commented:
“This collaboration offers us an important opportunity to promote sustainable and equitable agricultural solutions in Italy and apply a model which allows connection capacity compliant with PNIEC. This will undoubtedly save precious time and resources while truly offering our Farmers the possibility to gain the economic support in a shorter period – a fundamental target Farmers have repeatedly remarked.
Both companies share the same common goal of transforming objectives into results, having Farmers truly as the main beneficiary of APV Investments.”
Milona Filipoiu, the CEO of Romelectro Group, commented:
“Romelectro means tradition, quality, professionalism, and promptness, no matter how complex the energy field is. The timing and context of this agreement comes within the strengthening of the bilateral economic relations between Italy and Romania – underlined at the intergovernmental summit and demonstrated in recent years by an increase in trade between the two countries by over 20% in 2022.
The experience and capabilities of the group of companies have made Romelectro a reference on the market. Moreover, these strategic partnerships will offer the necessary advantages for consolidating the activity of exporting services and equipment on a very competitive basis.
With the agro-industry cited amongst the top focal points, this agreement sits within one of the spotlight sectors across Europe today.”
This agreement is a major step for ESG Eko Agro Group in the field of APV and generates significant value and portfolio strength for ESGTI.
Contact
Andreas R. Bihrer, President of the Board of Directors
E-mail: investors@esgti.com, Phone: + 41 44 366 40 31
ESG EKO AGRO Group is an Italian company of ESGTI AG focusing on sustainable and technology-enhanced agriculture (smart farming) in combination with agriphotovoltaics.
ESGTI is a listed Swiss group of companies active in the fields of agribusiness and agritech, infrastructure, green and alternative energies and environmental technologies. ESGTI’s shares are listed on the BX Swiss.
