Milan, December 13, 2022 – From the partnership between Iberdrola Renovables Italia SpA and Innovo Group SpA comes iCube Renewables, an equally owned joint venture aimed at developing renewable energy power generation projects in Italy.
Innovo, which contributes to iCube Renewables its entire Italian pipeline of over 614 MWp (comprising 474 MWp of solar, 88 MWp of wind and 52 MW of storage), will thus qualify as an Independent Power Producer (IPP) thanks to the agreement with Iberdrola Renovables.
Iberdrola Renovables’ know-how and investment capacity will also enable a significant acceleration in the implementation of the projects within the new company’s pipeline.
“We are particularly pleased with the launch of a competitive player such as iCube Renewables, the result of the synergy with a strategic partner of Iberdrola’s caliber, with whom we share growth objectives and the same vision of innovation and development in the renewables sector,” said Rodolfo Bigolin, CEO of Innovo Group. “iCube Renewables enters the market with an already solid positioning, but our objective is to further strengthen our growth trajectory in the Italian market, which we consider one of the most important in Europe for green energy production. Finally, the partnership with a prestigious company such as Iberdrola confirms the quality of the work carried out by the Innovo Group team and encourages us to continue along the path we have undertaken.”