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Milan, 2 August 2024 - Plenitude has signed a 10-year Corporate PPA1 with Ferriera Valsabbia for the supply of energy produced 100% from a renewable source.
The agreement covers the entire output of a 15MW wind farm owned by Plenitude and located in the municipality of Sannicandro di Bari (Apulia, Italy).
The energy generated by the plant, which will amount to more than 350 GWh over the entire period, will contribute to meeting the energy needs of Ferriera Valsabbia's facilities from September 2024.
"The agreement with Ferriera Valsabbia demonstrates our commitment to supporting also important industrial groups on their path to decarbonization. PPAs are not only a strategic lever for long-term energy price stabilisation, but also an essential asset for the energy transition," said Alessandro Della Zoppa, Head of Renewables at Plenitude.
"With this PPA, we are taking a further step towards the decarbonization of our business, confirming the importance of establishing medium to long-term partnerships with common goals," said Ruggero Brunori, CEO of Ferriera Valsabbia.
Plenitude, a company controlled by Eni, operates in the energy market with a distinctive business model that integrates renewable production, energy sales and solutions and a wide network of charging points for electric vehicles. The company intends to reach over 8 GW of installed renewable capacity by 2027 and over 15 GW by 2030.
Ferriera Valsabbia is a steel company based in Odolo (in the province of Brescia, Italy) that has been specialised in the production of reinforcing steel bars for reinforced concrete for seventy years. The finished product, made by melting scrap iron in an electric arc furnace, contains more than 95% recycled material. With this agreement, Ferriera Valsabbia is further reducing its environmental impact by significantly increasing its use of energy from renewable sources.
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- (1) A Power Purchase Agreement (PPA) is a contract between a producer and a buyer for the purchase of energy.
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