OVS and Deaway sign framework agreement for up to 20 MW of photovoltaic projects
The agreement provides for a joint venture owned 51% by OVS and 49% by Deaway to develop, build and operate photovoltaic plants supplying part of OVS’s energy demand.
On 15 July 2022, the framework agreement between OVS S.p.A. and Deaway S.r.l. for the development of a photovoltaic generation platform was made public. The transaction connects the energy needs of a major retail group with specialist expertise in developing and operating renewable-energy plants.
Joint-venture structure
The agreement provides for a project vehicle owned 51% by OVS and 49% by Deaway. Through this structure, the parties intend to develop, build and operate several photovoltaic projects with a stated maximum combined capacity of 20 MW.
This corporate configuration brings together the perspective of the final energy user and the activities required to take plants from development through to operational management.
Renewable energy for OVS’s demand
The electricity generated by the plants is intended for OVS and is designed to meet part of the company’s energy requirements. The agreement therefore supports renewable procurement for operations whose consumption is distributed across multiple sites.
Deaway’s documented role
The transaction documents the role Deaway played in 2022 in developing photovoltaic initiatives for industrial and commercial customers. The news concerns the execution of the framework agreement; the source does not provide a later update on individual sites, delivery schedules or the capacity that ultimately entered operation.
The project is therefore presented as a documented initiative and partnership, keeping the announced objectives separate from any operating results achieved at a later stage.