Saipem inks energy transition pact with CDP

Saipem has signed a memorandum of understanding with Cassa Depositi e Prestiti to jointly evaluate the launch of innovative and sustainable projects aimed at promoting the energy transition in Italy and abroad.

The initiatives, focused on decarbonisation, circular economy and energy efficiency, will mainly concern:

• The development and construction of infrastructures to produce energy from renewable sources, such as conventional photovoltaic systems and floating solutions for both water basins and sea, and offshore wind farms (on fixed and/or floating foundations);
• The development of circular economy projects, by analysing investment methodologies (such as solid urban and industrial waste exploitation technologies, plastics disposal);
• Business solutions to promote, develop and build infrastructures for the supply, transformation and use of Liquefied Natural Gas (LNG) in maritime transportation.

In addition, the parties may identify and adopt digital tools and technologies to enhance the value of the initiatives and accelerate their implementation in the various areas of execution.

Cassa Depositi e Prestiti, also by means of its subsidiaries, will provide its economic and financial expertise, in the management of institutional relations at international, domestic and local level, and of relationships with the Italian and international development cooperation system, enabling the access to technical assistance and financial support solutions.

Saipem will provide its assets and industrial, technical and commercial expertise normally associated with the implementation of complex projects in the offshore photovoltaic and wind energy segments, in circular economy initiatives and in LNG infrastructures.

Moreover, Saipem will provide its skills and innovative capabilities in research and development, design, implementation and management of specific technological solutions.

Saipem will also propose identified digital solutions to facilitate and enhance the value of the initiatives under this Protocol.

The protocol signed by CDP and Saipem aims at contributing to the achievement of the Italy’s targets identified in the National Energy and Climate Plan.

The plan requires the installation of new capacity from renewable energy sources up to about 42 GW (of which about 32 GW from photovoltaic plants by 2030).

Stefano Cao, CEO of Saipem, stated: “With the signing of this memorandum of understanding, which aims at accelerating the energy transition in Italy, CDP and Saipem will collaborate to launch innovative and highly sustainable projects in power generation from renewable sources and in the circular economy segments.

“In addition to its role in the construction of infrastructures, Saipem will be actively involved, since their inception, in the development of new initiatives with the decisive support of CDP”.

Fabrizio Palermo, CEO of CDP, declared:

“This collaboration between CDP and Saipem is absolutely key to the development of innovative projects in the field of energy transition and the circular economy.”