Regulatory Milestones
Complete chronological record from the Ministerial Decree through completed rounds to the projected Round 3 window.
Ministerial Decree No. 457 Published
MASE publishes the Transitional FER-X Decree — the operative framework for Italy's CfD renewable energy incentives.
Funded by PNRR EU funds. Operative until 31 December 2025.
Decree Enters into Force
Transitional FER-X Decree becomes operative. Projects ≤1 MW starting construction from this date can access incentives directly.
14.65 GW total cap activated across all technologies.
GSE Opens Round 1 Pre-Registration
Nearly 1,500 expressions of interest submitted. Solar PV dominates with ~1,400 expressions representing 17.6 GW — 2.2× the available cap.
Solar oversubscription signals highly competitive auction ahead.
Round 1 Application Window Opens
GSE opens the 60-day application submission window for the first FER-X competitive auction covering solar PV and onshore wind.
Round 1 Application Window Closes
Submission deadline for Round 1 bids. GSE begins evaluation and ranking process. Results expected within 90 days.
Round 1 Results Published by GSE
8.63 GW awarded across 503 projects (474 solar, 29 wind). Average solar strike price €56.83/MWh. Italy awards 82% of available capacity.
Max solar price: €62.68/MWh. Wind avg: €72.85/MWh.
Round 2 (NZIA) Opens & Closes
Second auction exclusively for solar PV projects using non-Chinese components. 156 applications received (1.85 GW vs 1.6 GW cap).
72 projects migrated from Round 1. Avg price €66.37/MWh — 27.7% below cap.
Round 2 Results Published
1.1 GW of non-Chinese solar PV capacity awarded. Average strike price €66.37/MWh, significantly below the €73/MWh cap.
Transitional FER-X Decree Expires
The Transitional Decree operative period ends. Awarded projects continue under their CfD contracts. New definitive FER-X decree required for future rounds.
Plants subsidised by this decree expected to continue under the upcoming definitive decree.
Definitive FER-X Decree Expected
MASE expected to publish the definitive FER-X decree — not reliant on PNRR funds, with longer-term horizon. No official publication date confirmed as of March 2026.
Monitor MASE and GSE official channels for publication.
Round 3 Expected
Subject to definitive decree publication, Round 3 is estimated for H2 2026. Remaining capacity: ~1.37 GW solar, ~3.06 GW wind, 0.63 GW hydro, 0.02 GW biogas.
Wind capacity significantly underallocated — strategic opportunity for Round 3.
Round 1 Projects Commission
Round 1 awarded projects must commission by 36 months from results publication. Bulk of 8.63 GW awarded capacity expected to come online.
Sources (click to expand)
- Decreto Ministeriale 30 Dicembre 2024, n. 457 — DM FER X Transitorio (MASE)
- GSE FER-X Round 1 — Esiti Asta 1: Risultati e Graduatoria (2025)
- GSE FER-X Round 2 (NZIA) — Esiti Asta 2: Non-Chinese Solar PV Results (2025)
- MASE — Decreto FER-X Definitivo: Comunicazioni Ufficiali (2026)
Auction Round Calendar
Key dates, capacity data, and results for all completed and projected FER-X auction rounds.
Round 1
Transitional FER-X
~1,500 expressions of interest. Solar 2.2× oversubscribed.
Round 2 (NZIA)
Non-Chinese Components
156 applications. 72 projects migrated from Round 1. 27.7% below cap.
Round 3
Definitive FER-X (Est.)
Subject to definitive FER-X decree publication by MASE. Wind (3.06 GW) and Hydro (0.63 GW) represent less competitive opportunities.
Preparing for Round 3
Round 3 is estimated for H2 2026, subject to the definitive FER-X decree. Use this period to position your project competitively.
Secure Permits Now
Grid connection and construction permits take 6–18 months. Start the permitting process immediately to be ready when Round 3 opens.
Identify Aree Idonee
Check regional "suitable area" designations. Projects in aree idonee receive ranking priority — critical for competitive solar bids.
Consider Co-located Storage
BESS co-location provides ranking priority AND merchant revenue potential. Assess grid connection capacity for storage at your site.
Wind Opportunity Window
3.06 GW of wind capacity remains unawarded. Wind is significantly less competitive than solar — Round 3 wind bidders face lower competition.
Monitor MASE Publications
The definitive FER-X decree must be published before Round 3 can open. Subscribe to MASE and GSE bulletins for official announcements.
Model CfD Payback Risk
With PUN at €118–131/MWh in 2025, model scenarios where your strike price creates significant payback obligations. Stress-test project economics.
The Transitional FER-X Decree was funded by PNRR EU funds with strict disbursement deadlines — this is why it entered into force rapidly and expired on 31 December 2025. The upcoming definitive FER-X decree will not rely on PNRR funds, giving it a longer operational horizon. However, it requires fresh MASE legislative process.
Plants subsidised by the Transitional Decree are expected to continue under the definitive decree — their CfD contracts are not at risk from the transition.