European industry is roaring again, determined to shake off the pandemic effect. “Developments on the vaccine front have spurred the growth of optimism,” confirmed Chris Williamson, Chief Business Economist at IHS Markit, commenting on this morning's data from the PMI indices, a 36-month high. But the air of recovery, particularly sustained in Germany and in the Italian supply system, this time goes far beyond the economic situation. Indeed, the start of the Draghi government coincided with a series of announcements on new initiatives that increase confidence in the prospects for recovery. It may be just a coincidence, but the last session of the financial week was characterized by several new initiatives that bode well for the system's ability to return to growth.
In particular, Saipem announced yesterday that it has signed a framework agreement with Danieli and Leonardo to collaborate on various projects in Italy, particularly in the South, and abroad, for the sustainable reconversion of energy-intensive primary plants in the iron and steel sector. Saipem will take care of the construction of the plants, integrating the technologies and skills necessary to "capture" natural gas, hydrogen and CO2. Danieli will be responsible for supplying the electric ovens. Leonardo will assume the role of digital and security technology partner.
Saipem in particular also yesterday presented a project which envisages the construction of an integrated marine district in the field of renewable energy off the coast of Ravenna, with a 520 MW offshore wind farm flanked by a 100 MW floating photovoltaic plant and electrolysers for the production of 4 thousand tons of hydrogen per year: all for a value exceeding one billion. The company is studying similar projects in Sicily and Sardinia involving the use of technologies based on floating foundations for wind turbines.
The attention of Piazza Affari focus this morning su Leonardo: +7,45%, to 6,30 euros. Next week the Board should give the green light to theIPO of the American subsidiary Drs, with placement expected by March. The operation will serve to support the development of the US subsidiary.
This morning Eni has signed an agreement with the Spanish developer X-Elio, for the acquisition of three photovoltaic projects in southern Spain with a total capacity of 140 MW.
In the meantime, the project for the gigafactory destined for the production and storage of lithium-ion batteries for electric vehicles is picking up speed, for an expected investment of around four billion euros. The plant of itvolt, a company founded by Lars Carlstrom, will be built in the former Olivetti area of Scarmagno, one of the historic places of Italian industry. With an expected 300 thousand square meters and an initial capacity of 45 GWh, which could reach 70 GWh, the Italvolt Gigafactory will be the largest in Europe and the twelfth largest in the world and will be designed by the Pininfarina Architecture division. Comau will be a supplier of innovative solutions, plants and plant technologies.
In short, there is no shortage of initiatives. Waiting for the Recovery Plan, which will have to offer the systematic framework to hook the recovery of manufacturing, the great opportunity of Piazza Affari.
