Renewables

Wind power, the 187 million Fortore plan from IVPC and Eurus

Oreste Vigorito's Benevento-based company and Japanese partner carry out repowering: intervention supported by Unicredit and Crédit Agricole Italia

by Vera Viola

2' min read

Translated by AI
Versione italiana

2' min read

Translated by AI
Versione italiana

Fortore project kicks off with an investment of EUR 187 million: IVPC Group, which is headed by Oreste Vigorito former president of Confindustria Benevento and one of the main Italian operators in the renewable energy sector, together with Eurus Energy group, a leading Japanese group in renewables, will replace the existing 140 wind turbines, built between 1996 and 1999, with 22 GE Vernova 6.1 MW turbines. When fully operational, the total installed capacity will increase from 84 MW to 134.2 MW.

 

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In practice, a part of Italia's wind power industry, which started almost thirty years ago, is being upgraded with more advanced technologies. The repowering of Fortore is one of the most significant cases of the transition from first-installation wind power to new-generation wind power.

 

UniCredit, as mandated lead arranger, global coordinator, bookrunner and underwriter, and Crédit Agricole Italia, as mandated lead arranger, will provide the debt financing to support the project.

 

The Fortore wind farm is located in the inland area of Campania. The first phase of repowering, in the municipality of Montefalcone di Val Fortore, will be in operation by June. That is when work will start on the second phase in the municipalities of San Giorgio La Molara, Baselice, Foiano di Val Fortore, San Marco dei Cavoti and Molinara. The project is part of the industrial path of IVPC Group, which over the past 25 years has built wind farms in seven Italian regions, with a total capacity of more than 1,600 MW. "With the completion of the 134.2 MW Fortore wind farm, IVPC marks another milestone on its path in renewables. Repowering represents one of the central challenges of wind energy in Italy: it is not only a matter of installing new capacity, but also of renewing infrastructures that accompanied the first season of renewables and that can now return to production with more advanced technologies," emphasises Oreste Vigorito, president of Maluni Srl, the holding company of the IVPC Group and honorary president of Anev (National Wind Energy Association) president of Benevento Calcio.

 

"The financing of energy infrastructure is increasingly about the ability to support investments that affect the country's production structure. Fortore intervenes on an existing asset, upgrades its technology and increases its installed capacity. It is a project that shows how energy transition is not just a question of new plants, but also of industrial quality, asset efficiency, and the ability to make the infrastructure assets already available more productive," notes Ferdinando Natali regional manager of UniCredit. "For Crédit Agricole Italia, the repowering project of the Fortore wind farm is an important example of how infrastructure renewal can contribute to the decarbonisation of the Italian energy system and the strengthening of its security," adds Marco Perocchi, head of Corporate Banking at Crédit Agricole Italia.

 

 

 

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