Tion Renewables GmbH (“Tion Renewables” or “Tion”), a leading European independent power producer (IPP), has completed the repowering of three operational solar PV plants in Italy. By replacing the fixed mounting systems with trackers and installing new modules, Tion has increased the installed capacity by just under 40 per cent.
The plants are located in the Veneto region in northern Italy and in the Basilicata region in southern Italy, and have been in operation since 2011 and 2012 respectively. Following modernisation, they are expected to generate around 7 gigawatt-hours (GWh) of green electricity annually. They will continue to benefit from feed-in tariffs in the coming years, ensuring contractually guaranteed revenues and stable cash flows, whilst the new plant technology will significantly extend their operational life beyond the duration of the subsidy scheme.
The project forms part of Tion’s value-enhancement strategy: the company systematically extracts additional value from assets that are already part of its portfolio. The key drivers for this are repowering, revamping, the hybridisation of plants and optimised financing structures, complemented by continuous, proactive asset management and commercial optimisation.
Ingmar Helmke, CEO of Tion Renewables: “Our work only really begins when we purchase a plant. At three existing plants, we have increased output by around 40 per cent whilst maintaining the same footprint and grid connection, whilst securing the existing feed-in tariff. That is value creation in practice: getting more out of what we already own. I would like to thank our entire Spanish team for implementing this flagship project so smoothly.”
