en.Wedoany.com Reported - Italian renewable energy developer GreenGo has officially connected its first photovoltaic plant, Pianaccio, to the grid in the municipality of Mondavio, Marche region. With an installed capacity of approximately 5.3 MWp, this is GreenGo's first operational photovoltaic asset, marking the company's transition from a development platform to an industrial operator with operational assets, evolving toward an Independent Power Producer (IPP) model.

The grid connection was carried out in accordance with the technical schedule set by e-Distribuzione to complete the parallel connection of the power station. The connection plan anticipates the commissioning of two more plants in July, with the remaining two to be completed before summer.

Pianaccio is part of the company's first project financing transaction, which secured total funding of over €32 million supported by Intesa Sanpaolo, for the development of a portfolio of photovoltaic plants distributed across Marche, Sicily, and Calabria.

The electricity generated by the plant falls under a supply agreement with Sasol Italy, GreenGo's first Corporate Power Purchase Agreement (PPA), which stipulates the supply of renewable energy from multiple of the company's photovoltaic plants.

The completion of the plants and the commissioning of Pianaccio confirm GreenGo's ability to manage the entire value chain, covering project origination, permitting, engineering, construction, financing, and operational management, transforming the project pipeline into production capacity, renewable energy, and long-term industrial value.

Fabio Amico, Chief Technology Officer and Board Member of GreenGo, stated that connecting Pianaccio to the grid and completing the first plants is a historic moment for the company. All teams have worked hard to achieve this initial milestone, which represents a shift in the company's mindset and organization within the Italian and European energy sector. The company is vigorously advancing the strengthening of site and procurement organization and activities, with the goal of shortening construction cycles and accelerating the preparation for future plants, whose complexity will significantly increase in management, quantity, and technology, with the start of construction of the first wind farm.

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