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Generali's Sosteneo, Edison, Saipem to decarbonise Taranto steel plant



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MILAN, Nov 30 (Reuters) -Generali's GASI.MI green transition investment manager Sosteneo SGR said on Thursday it had teamed up with Edison EDNn.MI and Saipem SPMI.MI to develop a project to decarbonise Italy's largest energy and steel hub.

The project is part of a wider initiative dubbed Puglia Green Hydrogen Valley, which involves a bespoke decarbonisation solution consisting of 260 megawatts (MW) of solar photovoltaic (PV) generation capacity and 160 MW of electrolysis capacity to produce green hydrogen in the Brindisi and Taranto areas of the Puglia region in southern Italy.

The aim of the project is to use green hydrogen in direct reduced iron production plants that will decarbonise the steel-making process at the Taranto steel plant and a consortium of other Italian steel mills.

Sosteneo, which specialises in greenfield infrastructure projects related to the energy transition, will acquire a 40% stake in the special purpose company that will implement the initiative, it said in a statement.

Italian energy group Edison has a 45% stake in the company, while energy engineering and infrastructure company Saipem holds a 10% stake. The remaining 5% will be bought by state-owned agency Invitalia.


(Gianluca Semeraro, editing)

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