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Italy Switches on Five New Subsidy-Free Solar Power Plants

A flower is seen between two solar cell
Source: AFP/Getty Images

Octopus Investments Ltd. started generating power from five subsidy-free solar plants in Italy in the latest sign that clean-energy can be profitable without government support.

The plants have a two-year fixed power price agreement in place with Italian power trader Green Trade SA, said Matt Setchell, head of renewable energy investments at Octopus, in a phone call. The plants are located in the Montalto di Castro region of Italy and have a combined capacity of 63 megawatts. Panels were supplied by Canadian Solar Inc.