Enel launches crowdfunding initiative to build renewable energy plants

The programme includes a financing initiative for a solar power plant to be built in Poggio Renatico, which will have a capacity of 17MW

Enel Green Power has launched a crowdfunding initiative to build new renewable plants in Italy and support the country’s green energy transition.

Through ‘Scelta Rinnovabile’, or Renewable Choice, the company seeks to promote community awareness of their role as leaders in the energy transition so they can benefit from the positive effects from the use of renewable energy.

The programme includes a financing initiative for a solar power plant to be built in Poggio Renatico, in the province of Ferrara, Emilia-Romagna.

It will have a capacity of around 17MW, generating enough renewable electricity to power more than 8,300 homes and help avoid more than 11,000 tons of carbon emissions.

The crowdfunding campaign has been opened initially for residents in the Municipality of Poggio Renatico for an exclusive two-week period, following which it will remain open for an additional month for people in Italy interested in taking part in the project.

They can invest from a minimum of €100 (£85m) up to a maximum of €5,000 (£4,261), with a gross annual return of 5.5% for residents of the municipality and 4.5% gross per annum for non-residents.

Salvatore Bernabei, CEO of Enel Green Power said: “Renewable plants are a fundamental tool for reducing CO2 emissions and combatting climate change and above all they are an opportunity for the economic and social development of local areas and the country as a whole.

“With Scelta Rinnovabile we want to encourage local communities and areas to play a real and active role in the energy transition, fostering people’s awareness of their role as leaders of the change towards a sustainable model.”

Make sure you check out the latest Net Hero Podcast episode:

Latest Podcast