Italian state railways, Ferrovie dello Stato has revealed an ambitious plan to reduce its carbon footprint by going solar, with a $1.36 billion investment in a photovoltaic farm. CEO Stefano Donnarumma-led plans are expected to allocate about €1.3 billion from the firm’s coffers to start work on the high-tech facility, which will produce 1 GW of energy initially but meet 19% of railway’s energy needs till 2029.
Donnarumma underlined how, although energy production is out of Ferrovie dello Stato’s core competencies, the company is committed to using partnerships to get its renewable energy strategy realized in the best possible conditions. The photovoltaic project may involve partnerships with industrial or financial players who will develop and manage the facilities. “We are not interested in running them.”. But we could sign contracts to use them for a set period, or we could also buy existing plants, maybe with a partner,” he said, underlining the company’s focus on shared ownership and strategic partnerships.
It forms part of Ferrovie dello Stato’s bigger plan to integrate renewable energy into its operations. The company has committed to doubling the photovoltaic plant’s capacity to 2.2 GW by 2034. The capacity addition is expected to meet up to 40% of the company’s energy requirements and significantly reduce its reliance on non-renewable sources of energy. For this expansion, the company will look at the possibility of creating a corporate vehicle for the investment. This vehicle could attract stakeholders from industrial or financial sectors who would be able to invest and co-own the energy infrastructure.
The financial structure of the project is still under development, including negotiations with banks to obtain bank financing. According to Donnarumma, on account of its size and potential for cooperation, the scheme will be of interest for many partners. This is because the partnership may occur in the form of contracts involving energy use or shared ownership of infrastructure, which would enable Ferrovie dello Stato to take a back seat and give way to its core activities while enjoying renewable energy for its operations.
The photovoltaic initiative goes in line with the commitment to sustainability and innovation, which Ferrovie dello Stato upholds as a benchmark for renewable energy investments in the transport sector. By putting a priority on green energy, the company not only strives to minimize its carbon footprint but also hopes to collaborate and encourage greater renewable energy adoption.
This investment reflects a fast-growing trend among transport companies to combine renewable energy solutions into their operation. The leadership of Ferrovie dello Stato in this domain is an example of how large-scale infrastructure projects may be linked with environmental objectives while fostering economic cooperation. As the company continues on its way, the solar energy project will be a good model of sustainability in the railway industry and further.