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. Which is important because most fossil fuel powered generating plants are government owned or subsidized.
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.