Tuscany is poised to extend Enel’s geothermal energy licenses by 20 years, until 2046, in exchange for nearly €3 billion ($3.15 billion) in investments, according to sources.
This agreement will secure significant investment in the region, which is home to the majority of Italy’s geothermal sites. Enel, currently operating 34 geothermal plants in Tuscany, plans to build three more, increasing installed capacity by 65 MW to a total of 981 MW. This expansion is projected to cover approximately 40% of Tuscany’s electricity needs.
Tuscany President Eugenio Giani confirmed the impending agreement, stating it will “ensure investments and resources for the municipalities in the geothermal area,” though he did not provide further details. Enel declined to comment.