Italy working on incentives for offshore wind projects

A wind turbine is pictured in the southern German town of Schonach, January 6, 2008. REUTERS/Vincent Kessler (GERMANY)

MILAN, May 11 (Reuters) - The Italian government is working on incentives to boost the roll-out of offshore wind facilities, Italy’s energy transition minister said on Wednesday.

"Incentive mechanisms are in the programming phase," Roberto Cingolani said, answering questions from members of parliament.

Besides subsidies, Cingolani said offshore wind would also receive grants from Italy’s national Recovery Fund plan.

Rome is keen to speed up the build-out of renewable energy plants to help achieve climate goals and cut its reliance on Russian gas.

It has introduced a series of measures aimed at simplifying the permitting process to attract investors.

Cingolani said last year more than 60 developers had expressed interest in building offshore wind farms. These include ERG (ERG.MI), Eni (ENI.MI), Saipem (SPMI.MI), EDF-owned Edison (EDF.PA) and Fincantieri (FCT.MI). read more

The overall generation capacity was well above the 2030 capacity target laid out in Italy’s latest energy plan.

"There has been an openness of operators to invest (in offshore wind) that is way above expectations,” he said.

Reporting by Stephen Jewkes; Editing by Lisa Shumaker

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