Falck Renewables and Illumia working together for the energy transition with a new PPA in the Italian market
Falck Renewables S.p.A. announces signing of a long-term Power Purchase Agreement (PPA) between its subsidiary Falck Renewables Sicilia S.r.l., owner of a solar project under development in Sicily, and Illumia Trend, a trading company of the Tremagi Group, an Italian electricity and gas supplier operating throughout the country with approximately 350,000 domestic, business and industrial customers.
What does the project involve?
The project (10.5 MW) is located in the province of Ragusa. Once operational, the solar plant will produce up to 20 GWh of electricity per year, equivalent to the amount of energy needed to cover the demand of approximately 7,400 families. Falck Renewables, through its subsidiary Falck Next Energy S.r.l., will also manage dispatching for the solar plant, allowing proper alignment of the supply profile required by Illumia and the clean energy produced.
What does the agreement set out?
The multi-year agreement has an innovative pricing structure that will allow both companies to balance risks and strategic objectives. Furthermore, long-term PPAs are essential to the energy transition as they allow addition of new renewable capacity to the energy market, in line with national and international climate-change goals.
A word from the parties involved:
“Signature of this long-term Power Purchase Agreement marks the start of a new phase for Falck Renewables in the Italian market, where we will not only add new, local and non-subsidised renewable energy to the system, but will also offer Illumia customers a sustainable and affordable solution to source clean energy. We are pleased to work with an innovative company that shares our vision of a carbon-free future”, commented Toni Volpe, CEO of Falck Renewables.
“We can now announce to customers that the renewable energy we offer not only comes with a guarantee of origin but contributes to achievement of Italian goals for the energy transition”, highlighted Matteo Carassiti, Partner of Illumia Trend. “We are proud to engage the risk-management expertise we have developed over the years to support sustainability”.