Iberdrola seals 12-MW solar PPA with Italian steelmaker

Spanish utility Iberdrola SA (BME:IBE) said on Thursday it has clinched a deal to supply Italian steel products maker Acciaierie Venete SpA with solar power from a 12-MW photovoltaic (PV) park in Italy.

The parties have signed an off-site power purchase agreement (PPA) for 10 years, which will ensure Acciaierie Venete will receive 230 GWh of green power for the agreed period. The contracted electricity volumes will help the Italian company to lower its carbon dioxide emissions by roughly 6,960 tonnes.

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The solar farm, the name of which was not provided, is currently under construction, the Spanish utility said. Its portfolio in Italy consists of almost 150 projects, which the company is developing as it aims to reach 400 MW of installed capacity in the country by 2025.

"This partnership with Iberdrola is consistent with our commitment to sustainability," noted Francesco Semino, community service officer of Acciaierie Venete. He added that the PPA is aligned with the steelmaker’s decarbonisation strategy and efforts to cut its carbon footprint by more than 50% by 2030.