Edison and Webuild collaborate on major hydroelectric projects in southern Italy

In a strategic move to strengthen Italy’s energy security and promote environmental sustainability, Edison and Webuild have signed an industrial partnership agreement to develop pumped-storage projects in the Basilicata and Sicily regions.

The collaboration between Edison and Webuild aims to optimise the project’s implementation and support significant private investment estimated at around €1.2 billion (US$1.3 billion) in southern Italy.

These initiatives are key to Edison’s long-term strategy to expand the country’s renewable energy and storage capabilities. In addition, this collaboration will expand Edison’s ambitious goal of increasing installed green capacity from the current 2 GW to 5 GW by 2030.

These projects will also contribute to the creation of at least 500 MW of energy storage, a key element to prevent the waste of renewable energy during periods of peak production and ensure the stability of the Italian electricity grid.

Nicola Monti, CEO of Edison, highlighted the importance of this partnership, stating: “This agreement will create the foundations for safely building the energy transition, limiting Italy’s exposure to dependence on critical raw materials. It will relaunch the development of a highly strategic sector in which we are champions in Europe, with clear benefits for Italian economic development and the growth of renewable energy in the network, in line with decarbonization goals.”

Planned projects include the creation of new reservoirs and significant underground engineering works to increase territorial compliance. These activities include the modernization of existing reservoirs to ensure their full functionality, safety and the ability to store increased volumes of water for various public purposes, including drought mitigation.

The projects are currently undergoing approval procedures with the Italian Ministry of Environment and Energy Security and related regional authorities. The aim is to participate in the initial tenders organized by Terna, with the aim of obtaining new storage capacity through long-term supply contracts in the emerging futures storage market.

Pietro Salini, CEO of Webuild, expressed his readiness to leverage the company’s extensive knowledge, noting: “Creating virtuous systems of skills and resources with the entire production chain is key to creating the infrastructure that Italy needs to remain competitive. Webuild is ready to deploy its premium know-how acquired in globally complex and innovative projects such as the Snowy 2.0 hydroelectric power plant in Australia.”