US-based GE Vernova’s Financial Services business and Italy’s Lizard Renewables S.p.A. have launched Alva Power, a 50-50 joint venture aimed at advancing Italy’s electrification and decarbonization goals. The venture plans to develop over 1 GW of renewable energy projects, including wind, solar PV, and battery energy storage systems (BESS). According to Lizard, the projects are pre-selected and ready for execution. Initially, Alva Power will focus on onshore wind in Italy, with GE Vernova prioritizing equipment and service supply. The partnership also aims to explore opportunities beyond Italy in the future.
