Investing in renewable energy in Italy: The new regulatory framework between simplification and opportunities for Spanish companies

 

In a European energy landscape that is constantly evolving, Italy is consolidating itself as a promising market for the development of renewable energy sources, attracting significant foreign investment. For Spanish companies, historically pioneers in the sector and represented by leading global leaders such as Iberdrola and Solarpack, the Italian market now represents a natural and strategically necessary evolution.

 

Within the framework of the Spanish Chamber of Commerce in Italy (CAMACOES), the dialogue between institutional actors and associates such as BLB Studio Legale contributes to strengthening energy cooperation between both countries , emphasizing the Chamber's role as an industry accelerator.

 

Indeed, while the Spanish market can be considered mature, Italy now offers opportunities that make it the new destination for Iberian companies. In Spain, the high penetration of renewables has led to the phenomenon known as “price cannibalization,” in which excess solar supply during peak daylight hours drastically reduces profit margins and the overall profitability of installations. By contrast, in Italy electricity prices remain higher, and market saturation is still limited, ensuring superior margins for those who produce and sell energy in the domestic market.

 

Beyond economic attractiveness, Italy is currently subject to a result-based obligation under the European RED III Directive (EU Directive 2023/2413), which requires doubling the production of clean energy by 2030. This mandate has prompted the Italian State to rationalize the regulatory system, transforming what was previously a bureaucratic maze into a regulated and incentivized market.

 

The cornerstone of this administrative simplification is Legislative Decree 190/2024, the so-called “FER Consolidated Act,” which replaced the patchwork of regional regulations with a unified regulatory framework applicable nationwide. The State has created a standardized system that allows investors to understand in advance the applicable legal framework, overcoming the uncertainty that characterized previous years.

 

Procedures have been divided into three main categories: free activity for minor interventions, requiring only a simple notification; the Simplified Authorization Procedure (PAS) for medium-sized projects; and the Single Authorization (AU) for large industrial plants. This system ensures predictable timelines and faster procedures, enabling investors to plan expenditures without the risk of bureaucratic surprises or local obstacles.

 

A key element in this process is the activation of the SUER centralized digital portal, which centralizes applications and drastically reduces uncertainty regarding the timing of the necessary authorizations. This modernization process is further supported by Legislative Decree 178/2025, which, through full digitalization, provides essential tools to overcome potential procedural bottlenecks.

 

An unprecedented element of security for Spanish capital is introduced by Legislative Decree 5/2026, which transposes the RED III Directive and elevates renewable energy to the status of “prevalent public interest.” This principle recognizes the production of clean energy as a state priority and a superior common good, as a cornerstone in the fight against climate change, thereby accelerating authorizations, prioritizing the energy transition over other interests, and providing greater protection for investors.

 

Furthermore, asset planning now benefits from a clear regulatory framework due to Law 4 of 15 January 2026, which established the mapping of “suitable areas.” These zones have been specifically identified as appropriate for construction, where the authorization process is accelerated, making investment safer compared to unmapped territories or areas subject to landscape or historical restrictions, which are designated as unsuitable areas.

 

Despite a more favorable regulatory framework today , capital protection and long-term project viability remain closely linked to a rigorous and preventive professional assessment of local risks. Identifying potential bureaucratic or contractual bottlenecks in advance is a crucial step to ensure that investments proceed without delays or unforeseen costs.

 

Participation in the CAMACOES network promotes the sharing of standards of excellence and facilitates the link between Spanish investors and the strategic partners required to complete the production chain in Italy. In an increasingly open and regulated market, the core objective remains ensuring that every initiative is technically sound and fully addresses the challenges of the global energy transition.