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Codazzi (CESI CEO) on Italian energy Independence

Codazzi (CESI CEO) on Italian energy Independence
24 . May . 2022

Today, May 24th, at 11am (CEST) in the latest episode of Capital Vision Economy Talk, our CEO, Matteo Codazzi, speaks about the role of renewable sources to become independent from gas imports and achieve the energy transition goals.

Capital Vision Economy Talk is an online programme (in Italian) by La Repubblica, one of the most important mainstream media outlets in Italy, which focuses on the hot topics relates to energy, finance, social issues, politics and much more.

Together with the CESI Group CEO, the episode titled Energy, from gas to renewables: dream or reality? features Vincenzo Amendola, Undersecretary of European Affairs of the Prime Minister, as other key speaker. Mr. Codazzi and Mr. Amendola answer key questions, by journalists Vito De Ceglia and Andrea Frollà, on opportunities and challenges to diversify energy supply in Italy.

According to Mr. Codazzi, “the solution adopted by the Italian government, which consists of replacing Russian gas by increasing the extraction of national gas by a further 2 bcm and maximizing the contribution from other suppliers, is certainly correct, especially in the immediate future.” However, to fully replace the 29 bcm of gas that Italy imports on average from Russia, “the development by 2025 of new renewables, even with additions for only 40 GW, would still be sufficient, together with other government initiatives, to achieve total independence from Russian gas and the closure of coal plants,” says the CESI CEO.

Indeed, the analysis carried out by CESI on how to replace natural gas with renewables by 2025 “would ensure a safety margin for any risk of draught and consequent decrease in hydroelectric production. Similarly, we would be more protected from a reduced energy import from France in the event of prolonged maintenance of nuclear plants,” according to our CEO. Is the addition of renewables feasible from a financial perspective? “Even if we imagine, as I said before, to be able to achieve, by 2025, only 40GW of additional renewables, we would still have 60TWh of low-cost, fixed-price energy per year, independently from the cost of commodities,” says Codazzi.

During the Talk, Matteo Codazzi also assessed the diversification strategy implemented by the Italian government, the role of GNL to replace natural Russian gas, as well as the challenges connected with the current proposed solutions.

You can watch Energy, from gas to renewables: dream or reality? at this link.

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