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Coat a large saucepan with olive oil and 2 tablespoons of butter over medium heat. Add the onions, salt, and pepper and saute until translucent, about 5 minutes. Bring the pan to medium-high heat, add the rice and cook for 3-4 minutes, letting the rice become golden in color.
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Add the saffron to the hot chicken stock, the stock should turn bright yellow.
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Add the wine to the pan until it covers the surface of the rice. Season with salt and a pinch of pepper and cook over medium-high heat, stirring continuously until the stock has absorbed into the rice.
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Repeat this process with the hot saffron chicken stock (adding 2 cups of liquid at a time).
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Add the peas to the rice mixture
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When all the liquid has been absorbed and the rice is creamy and cooked perfectly remove it from the heat.
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Toss in the remaining butter and parmigiana cheese. Mix all very well together.
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Place on a platter and add shaved parmigiana cheese on top.