GreenIT

What GreenIT does

GreenIT S.p.A. is an Italian renewable energy developer incorporated on March 9, 2021 as a joint venture between Plenitude (Eni, 51%) and CDP Equity (Gruppo Cassa Depositi e Prestiti, 49%), headquartered in San Donato Milanese. The company develops, constructs, and operates photovoltaic and wind power plants in Italy, with a strategic target of 1 GW of installed capacity by 2030 backed by €1.7 billion in committed parent investment. The portfolio spans three pillars: greenfield photovoltaic (including agrivoltaic systems with bifacial high-efficiency modules and single-axis trackers), onshore wind, and floating offshore wind — the latter executed primarily through the Divento consortium with Copenhagen Infrastructure Partners (CIP), targeting approximately 3 GW across five projects off Sicily, Sardinia, and Lazio with expected annual production of ~8 TWh. Notable technical components include Saipem's STAR 1 semisubmersible floating foundation (selected for the 7SeasMed and Ichnusa projects) and elevated agrivoltaic structures designed to preserve agricultural use beneath solar arrays. The company operates through eight wholly-owned project SPV subsidiaries (Futura Energia, Orta Energy 4/5/11, Energia Solare, Rivoluzione Elettrica, GreenIT Renewables, GreenIT Eolica 1) and pursues capital-intensive project development through co-development agreements with international technology and development partners including CIP/Copenhagen Offshore Partners, Saipem, Galileo, Hive Energy, SunLeonard Energy, NiceTechnology, 7Seas Wind Power, and iLS. Revenue is generated through long-term power purchase agreements (PPAs) and direct grid sales to the Italian electrical system, with the customer base being the national grid and institutional off-takers rather than retail consumers. In September 2025, GreenIT signed a €370 million project finance facility anchored by the European Investment Bank (€220 million) and a syndicate of BNP Paribas, Crédit Agricole, ING, and Société Générale to fund greenfield onshore project development aligned with operational launch by 2028.

Name

GreenIT

Legal name

GREENIT S.P.A.

Website

https://green-it.online

Company type

Private

Founded year

2021

Operating status

Operating

Short description

GreenIT S.p.A. is an Italian renewable energy joint venture between Plenitude (Eni, 51%) and CDP Equity (Gruppo CDP, 49%) that develops, constructs, and operates photovoltaic, onshore wind, and floating offshore wind plants in Italy, targeting 1 GW of installed capacity by 2030.

Ownership category

akta.pro rank

Product category

Renewable Energy Development

NAICS

Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Electric Power Generation (22111)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Renewable Energy Industrial Facilities Construction (Solar, Wind, Storage) (IMAFADAD)

akta.pro secondary industries

Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF), Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting) (EUAEADAB), Commissioning, Testing & Energization Services (Pre-Commissioning, Grid Code Compliance) (EUAMAFAK)

Keywords

• Renewable energy development
• Photovoltaic power plants
• Offshore wind energy
• Agrivoltaic systems
• Energy project financing

Headquarters

HQ city

San Donato Milanese

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Technology or R&D, Personnel, Operations

Revenue model

1. Renewable Energy Production and Sales: GreenIT generates revenue through the development, construction, and operation of renewable energy plants (photovoltaic and wind). The company sells electricity generated from its plants to the grid or through power purchase agreements (PPAs). Revenue is recurring from operating plants with long-term contracts.
2. Project Development Services: Development of renewable energy projects for third parties or through joint ventures. Revenue derived from project development fees, equity participation in completed projects, and co-investment arrangements with partners.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

GreenIT develops, constructs, and operates renewable energy power plants in Italy, with a focus on photovoltaic (solar) installations and onshore and floating offshore wind farms. The company also performs repowering of end-of-life renewable energy facilities and pursues agrivoltaic projects that combine agricultural use with energy generation. Electricity produced is sold to the Italian grid and to large industrial off-takers under long-term power purchase agreements (PPAs).

Product overview

GreenIT is a joint venture between Plenitude (Eni, 51%) and CDP Equity (Gruppo CDP, 49%) dedicated to electricity production from renewable energy sources in Italy. The company's product portfolio consists of three core offerings: photovoltaic plants (including ground-mounted and agrivoltaic installations), wind power plants (both onshore and offshore floating installations), and repowering services for end-of-life facilities. The Divento sub-brand represents the company's floating offshore wind portfolio developed in partnership with Copenhagen Infrastructure Partners (CIP), encompassing approximately 3 GW across 5 projects. Specific projects include the 7SeasMed offshore wind farm in Sicily (250 MW, first VIA-approved floating offshore wind in Italy), Ichnusa Wind Power in Sardinia (504 MW), and the CAMPANIA 3 photovoltaic plant in Campania (9.832 kWp). GreenIT targets 1 GW installed capacity by 2030 with planned investments of 1.7 billion euros.

Differentiator

Problem solved

Functional benefit

Brands

• Divento: Joint venture brand between GreenIT, CIP (Copenhagen Infrastructure Partners), 7 Seas Wind Power, and NiceTechnology for the development of floating offshore wind projects in Italy. Represents 5 projects with total capacity of 3 GW.

Products and services

• Photovoltaic Plant Development and Construction Greenfield development and construction of utility-scale photovoltaic (solar) power plants across Italy, including ground-mounted and agrivoltaic installations that combine electricity production with continued agricultural use of land beneath elevated solar structures.
• Wind Power Plant Development and Construction Development and construction of onshore wind farms as well as floating offshore wind farms in Italian waters, including pioneering floating offshore wind projects in the Mediterranean leveraging deep-water installation capabilities.
• Repowering of Renewable Energy Plants Modernization and requalification of existing photovoltaic and wind installations approaching end of useful life to increase efficiency, capacity, and sustainability of operating assets.

Quantifiable outcome

• €1.7 billion investment planned for renewable energy development in Italy
• +3 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Twelve partnerships are on record, tiered core, major and minor.

• SaipemcoreTechnology or Integration · 1 March 2025Italian energy services company providing STAR 1 floating foundation technology for offshore wind. Selected through competitive technical-economic feasibility process for 7SeasMed and Ichnusa Wind Power projects.
• GalileomajorStrategic or Co-development Partner · 1 January 2024Pan-European renewable energy development and investment platform. Agreement for eight photovoltaic projects totaling approximately 140 MW across southern, central, and northern Italy.
• Hive Energy LimitedmajorStrategic or Co-development Partner · 1 July 2023UK-based renewable energy developer. Partnership for development of four photovoltaic projects (up to 200 MW) in Puglia, Sicily, and Lazio using agrivoltaic technology.
• SunLeonard Energy LimitedmajorStrategic or Co-development Partner · 1 July 2023Renewable energy development company. Co-partner with Hive Energy for four agrivoltaic photovoltaic projects in Italy.
• Copenhagen Infrastructure Partners (CIP)coreStrategic or Co-development Partner · 1 March 2022Danish infrastructure fund specializing in offshore wind. Partner for floating offshore wind projects in Italy including 7SeasMed (Sicily), Ichnusa (Sardinia), Lazio project, and others totaling 3 GW.
• Plenitude (Eni)coreStrategic or Co-development Partner · 1 March 2021Joint venture partner holding 51% stake. Plenitude, Eni's subsidiary for energy solutions, contributes expertise in energy development and sales to private and business customers.
• CDP Equity (Gruppo CDP)coreStrategic or Co-development Partner · 1 March 2021Joint venture partner holding 49% stake. CDP Equity is the equity investment arm of Cassa Depositi e Prestiti, Italy's national development bank.
• Copenhagen Offshore PartnersmajorTechnology or IntegrationExclusive offshore wind implementation partner for CIP, coordinating development of Divento portfolio of floating offshore wind projects in Italy.
• NiceTechnologymajorTechnology or IntegrationItalian offshore wind development company with proven experience in the offshore sector. Co-developer of Italian offshore wind projects with GreenIT and CIP.
• 7Seas Wind PowermajorTechnology or IntegrationItalian offshore wind development company. Original founder of 7SeasMed project and other offshore wind initiatives, now partner in Divento consortium.
• Baker Tilly LegalminorOthersExternal legal firm serving as Organismo di Vigilanza (Supervisory Body) for GreenIT Eolica 1 S.r.l., providing independent monitoring of Model 231 compliance.
• iLSmajorTechnology or IntegrationDevelopment support partner for Divento offshore wind portfolio, working alongside GreenIT and Copenhagen Offshore Partners.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Regional players

• CVA Energie: Valle d'Aosta-based Italian utility operating hydro, wind, and solar renewable assets. A regional Italian renewable developer/operator competing for southern Italy development opportunities in some segments.

Broad incumbents

• Edison S.p.A. Italian energy major with growing renewables portfolio (wind and solar) competing for utility-scale renewable development opportunities and corporate PPA customers within Italy.
• Copenhagen Infrastructure Partners (CIP): Danish infrastructure fund and GreenIT's offshore wind partner managing multi-GW offshore wind funds. While a JV partner in Divento, CIP is also a competitor for offshore wind pipeline and project equity.
• Iberdrola Renovables: Global renewables arm of Iberdrola with significant European wind and solar operations. Comparable in offshore wind development capabilities and European utility-scale renewable portfolio construction.
• A2A S.p.A. Italian multi-utility with significant renewables generation (hydro, wind, solar) competing for Italian renewable development opportunities and grid-scale project pipelines.
• Enel Green Power: Enel's renewable energy subsidiary and Italy's largest renewables operator with multi-GW installed capacity across PV, wind, and hydro. GreenIT competes for sites, grid connections, and PPA counterparties in the same Italian market, though at much smaller scale.
• Plenitude (Eni): GreenIT's 51% parent and itself a major Italian renewables developer with PV, wind, and storage ambitions. While technically a parent, Plenitude operates competing and overlapping renewable development pipelines in Italy.

Direct peers

• European Energy A/S: Danish renewable energy developer with active Italian PV and wind development. Comparable in focus on greenfield utility-scale renewable project development and EPC-style execution in European markets.
• ERG S.p.A. Italian pure-play renewable energy operator with wind (predominantly onshore) and solar capacity. ERG is a directly comparable Italian renewable energy developer/operator competing for the same PPA market and Italian asset opportunities.
• Renantis (formerly Falck Renewables): Italian-headquartered renewable energy developer and operator with PV, wind, and storage assets. Directly comparable in scale and geographic focus, developing and operating utility-scale renewable projects in Italy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GreenIT