EnelGreen Power (Enel) has announced that it will invest 3 billion euros in the geothermal energy sector in Italy, which includes the construction of two new plants by 2030 with a total installed capacity of 200 MW. However, this investment is contingent on the continuation of the company's existing geothermal concessions in the Tuscany region beyond the 1-year period already granted.

The eight geothermal concessions in Tuscany held by Enel were originally scheduled to expire in 2024. The fate of these expiring concessions was already being discussed in 2022, but the final result drew widespread criticism - the deadline was extended by just one year, to December 31, 2025.

This extension has been described as "the strict time required to complete the legislative reorganization of the sector". It is therefore not a final indication as to whether the concession will be extended to the current owner or whether it will be offered through a public tender.

This one-year extension is inconsistent with Enel's investment plan to build two new geothermal power plants and upgrade and modernize the existing ones between 2024 and 2030. In order to realize this plan, the concession must be extended for at least 15 years.

The Tuscany region currently receives about one-third of its electricity needs from geothermal power plants. In addition, geothermal heating is provided to greenhouses and businesses. Tuscany's geothermal features have also proven to be an effective attraction for tourists.

Source: MorningStar and T24

EnelGreen Power (Enel) has announced an investment plant of EUR 3 billion for the geothermal sector in Italy, including the construction of two new plants by 2030 with a total installed capacity of 200 MW. However, this investment is contingent on the existing of the company's existing geothermal concessions in Tuscany beyond the 1-year period that the company has been in operation. However, this investment is contingent on the existing of the company's existing geothermal concessions in Tuscany beyond the 1-year period that had already been granted.

Eight geothermal concessions in Tuscany that are held by Enel were originally due to expire by 2024. The fate of these expiring concessions wasalready being deliberated back in 2022, but theeventual outcome was met with widespread criticism - the deadline was extended by a mere one year to 31 December. The fate of these expiring concessions wasalready being deliberated back in 2022, but theeventual outcome was met with widespread criticism- the deadline was extended by a mere one year to 31 December 2025. December 2025.

Theextension was described as being "the time strictly necessary to complete the reorganization of the sector legislation. " Thus, it is not a final indication of whether the concessions will be extended for the current owners, or if they will be offered in an open market. "Thus, it is not a final indication of whether the concessions will be extended for the current owners, or if they will be offered in an open tender. Thus, it is not a final indication of whether the concessions will be extended for the current owners, or if they will be offered in an open tender.

The one-year extension is not in line with Enel's investment plan of putting up two new geothermal plants between 2024 and 2030 and upgrading and modernizing its existing plants. For this plan to materialize, the concessions have to be extended by at least 15 years.

Theregion of Tuscany currently gets about one-third of its electricity needs from the geothermal power plants. In addition, geothermal heating is supplied to greenhouses and companies. The geothermal features of Tuscany have also proven to be effective attraction sites for tourists.

Source:MorningStarand T24