SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

Vatican plans EUR 100 million renewable energy plant near Rome

#International News#Industrial#Italy
Synopsis

The Vatican is planning a renewable energy plant costing around EUR 100 million that could make Vatican City fully energy self-sufficient within about two years, according to sources involved in discussions on the project. The agrivoltaic facility is expected to have a capacity of 80 to 90 megawatts and will combine solar power generation with agriculture at the Vatican-owned Santa Maria di Galeria estate near Rome. The project could take 18 to 24 months, including approvals and administrative procedures. Contracts are expected to be put out to tender in the coming weeks, with surplus electricity supplied to Italy.

The Vatican is planning to build a renewable energy plant costing around EUR 100 million at its Santa Maria di Galeria estate on the outskirts of Rome, according to sources involved in discussions on the project. The facility is expected to combine solar power generation with agriculture and could allow the Holy See to become fully energy self-sufficient within about two years. 
The agrivoltaic plant is expected to have a capacity of 80 to 90 megawatts, which would make it one of Italy’s largest installations of its kind. Agrivoltaic systems place solar panels several metres above the ground, allowing crops to be grown underneath. The panels can also provide shade that reduces water evaporation and protects crops from extreme weather. 
A joint Italian-Vatican commission met earlier this month to begin work on the project at the Vatican-owned Santa Maria di Galeria estate. The initiative follows Italy’s ratification this year of a bilateral agreement signed in 2025 covering development of the site. 
Officials did not disclose the project's cost, capacity or completion schedule after the commission meeting. Sources said the plant could take 18 to 24 months to complete, including the required permitting and administrative procedures. The Vatican had not immediately commented on the project. 
The Santa Maria di Galeria estate covers around 450 hectares and has hosted Vatican Radio transmission facilities since the 1950s. The Vatican City State itself covers about 108 acres and has fewer than 900 residents. 
The planned plant is intended to provide electricity to the Vatican Radio transmission station and support the Vatican's goal of becoming energy self-sufficient. Electricity could also be supplied to properties linked to the Holy See, including Rome's Bambino Gesù hospital. 
The Vatican will not be eligible for the financial incentives available to Italian households and businesses that install solar power systems. Any electricity generated beyond the Vatican's requirements would instead be made available to Italy. 
Around 200 hectares of the Santa Maria di Galeria site could be covered by tracking solar panels, representing nearly half of the estate, according to one of the sources. 
The project was a priority for the late Pope Francis and has also been endorsed by Pope Leo XIV. The bilateral agreement between Italy and Vatican City extends the special status already granted to Vatican Radio facilities to the agrivoltaic project, including exemptions from Italian taxes and public charges. 
Italy's ratification law states that implementing the agreement must not create any new or additional burden on public finances. Contracts for the project are expected to be put out to tender in the coming weeks. 
The Vatican has previously invested in solar power. In 2008, during the papacy of Pope Benedict XVI, German companies SolarWorld and SMA Solar Technology donated 2,400 photovoltaic panels and related equipment installed on the roof of the Nervi Hall, where papal audiences and concerts are held. 
Source Reuters

Discussion

Have something to say? Post your comment