The aim of the joint venture is to develop wind energy farms that will generate around 960MW of power as well as build more than 12 biomass projects.
RWE Innogy Italia and Fri-El Green Power each hold a 50 per cent share in the new company, named Fri-El S.p.A.
At the end of 2007, renewable energy accounted for 16.6 per cent of the power generated in Italy. By 2010, the figure is expected to increase by 25 per cent, and grow from its present level of 2.6GW to 8GW by 2020.
In terms of installed capacity, Fri-El Green Power ranks fourth on the Italian market with a market share of nine percent.