28 MAY 2024

MYTILINEOS Energy & Metals aims to grow in the Italian sustainable energy market with a pipeline of more than 180 projects for a total capacity of 3.59 GW

The strategies of the Greek multinational, at the forefront of the energy transition as an integrated utility, presented yesterday in Milan

Athens, Greece – 28 May 2024 –MYTILINEOS Energy & Metals (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US), a leading industrial and energy company operating globally in the energy and metallurgy sectors, presented its development plan in Italy at an event open to media and stakeholders held today in Milan to celebrate the opening of its new headquarters in the Lombard capital.

The meeting was attended by Undersecretary to the Presidency of the Council of Ministers Alessandro Morelli, ARERA Commissioner Stefano Saglia, Althesys Ceo, Professor Alessandro Marangoni, and Chairman & CEO Evangelos Mytilineos.

Today MYTILINEOS is present in Italy with projects mainly in solar and storage in regions across the country, such as Sicily, Sardinia, Calabria, Campania, Veneto, Lazio, Romagna, and Abruzzo, with a total 3.59 GW pipeline of 180 projects over the next four years.

Specifically, MYTILINEOS' portfolio in Italy includes 2.4 GW of photovoltaic plants, with an average capacity per project of  30 MW; 873 MW of storage, including an 8 MW plant in Cheremule (Sardinia) that is already operational under the "Fast Reserve Auction" and 84 MW RTB - Ready to Build; 310 MW consisting of wind farms in brownfield development in Sardinia, Basilicata and Molise; and a 35 MW green hydrogen plant in Taranto that has already obtained positive EIA.

MYTILINEOS’ Chairman & CEO, Evangelos Mytilineos, said, "Italy represents a strategic market for MYTILINEOS, thanks to its location in the centre of the Mediterranean the country is a gateway to other European markets while geographical and climatic factors make Italy an ideal location for solar and wind power generation. The modernization of the energy infrastructure and transmission grid currently underway makes the integration of renewable energy sources possible. In addition, Italy is one of the largest economies in Europe with substantial energy demand and technological innovation."

Building on its successful track record in international markets and through a development strategy in renewables based on diversification, innovation, and strategic partnerships, MYTILINEOS aims to further expand its presence, leveraging its expertise to seize emerging opportunities in the renewables sector. In Italy, MYTILINEOS seeks to seize the opportunities offered by the country's ambitious renewable energy targets and favorable regulatory environment by developing and acquiring solar and wind projects. At the same time, it intends to consolidate its position through "new technologies" such as BESS and hydrogen. MYTILINEOS ' objectives include becoming a key player in the Italian PPA market in order to play an increasingly strategic role in facilitating the transition to renewable energy and a sustainable future.

"Providing integrated solutions is of increasing importance in meeting consumers ‘needs. MYTILINEOS is expanding its services in energy efficiency, "smart" energy saving, digital products, Internet of Things (IoT) device connectivity, as well as building energy management, maintenance and upgrading" added Evangelos Mytilineos.

Yesterday' s event was also an opportunity to celebrate the opening of the new Milan office - in the central Moscova district - representing the company's headquarters for Central Europe.

The office, which will house 120 employees (80% Italian), will be the second largest office after Athens, but MYTILINEOS expects to double the number of employees by the end of 2024 and to reach a team of 400 in 2026.  MYTILINEOS plans to involve more than 2,000 direct and indirect workers in the implementation of its renewable portfolio over the next two years.

Chairman Evangelos Mytilineos said: "We are really happy and proud today to celebrate our first five years of operations in a strategic market like Italy. In this country we have found a structured market and a favorable regulatory environment. Greece and Italy are linked by an ancient history and continue to share challenges and opportunities in the future. For five years we have been working side by side with customers and partners, helping to shape the future Italian energy landscape."