Plenitude and Ferriera Valsabbia sign 10-year renewable wind energy supply agreement

(IN SHORT) Plenitude has signed a 10-year power purchase agreement (PPA) with Ferriera Valsabbia to supply power from a 15 MW wind farm in Sannicandro di Bari, Italy. The wind farm will generate more than 350 GWh of renewable energy starting in September 2024, helping Ferriera Valsabbia decarbonize its operations. Plenitude, controlled by Eni, aims to reach 8 GW of renewable capacity by 2027 and 15 GW by 2030. Ferriera Valsabbia, a steel company specializing in rebar, will significantly reduce its environmental impact with the agreement.

(PRESS RELEASE) MILAN, August 2, 2024 — /EuropaWire/ — Eni (BIT: ENI), an Italian multinational energy company focused on innovation, efficiency and accessibility for all, announces that its Benefit Corporation, Plenitude, has entered into a 10-year Power Purchase Agreement (PPA) with Ferriera Valsabbia, ensuring the supply of energy generated entirely from renewable sources. The agreement covers the full capacity of Plenitude’s 15 MW wind farm located in Sannicandro di Bari, Puglia, Italy.

The wind farm is expected to generate more than 350 GWh of energy over the life of the contract, starting in September 2024. This energy will meet the needs of Ferriera Valsabbia’s plants, helping the company in its decarbonisation efforts.

Alessandro Della Zoppa, Director of Renewable Energy at Plenitudehighlighted the importance of the agreement, stating: “The agreement with Ferriera Valsabbia demonstrates our commitment to supporting major industrial groups on their decarbonisation path. PPAs are not only a strategic lever for long-term energy price stabilisation, but also an indispensable asset for the energy transition.”

Ruggero Brunori, CEO of Ferriera Valsabbiaemphasised the importance of partnerships, adding: “With this PPA, we are taking another step towards decarbonising our operations, confirming the importance of establishing medium- and long-term partnerships with shared goals.”

Plenitude, controlled by Eni, operates in the energy market with a unique business model that integrates renewable energy production, energy sales and a network of electric vehicle charging points. The company aims to reach over 8 GW of installed renewable capacity by 2027 and over 15 GW by 2030.

Ferriera Valsabbia, a steel company based in Odolo, Brescia, Italy, has specialized in the production of reinforcing bars for reinforced concrete for seventy years. The company’s finished products, manufactured by melting ferrous scrap in an electric arc furnace, contain more than 95% recycled content. This agreement further reduces Ferriera Valsabbia’s environmental footprint by significantly increasing the use of renewable energy.

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