Enfinity Global, Statkraft Sign PPA For 191 Gwh Supply In Italy

Global renewable players Enfinity Global and Statkraft have announced that they have signed a 10-year solar power purchase agreement (PPA) in Italy. As per the deal, the committed energy will be produced by a 112 MW utility-scale solar power portfolio owned by Enfinity Global.

The official statement by Enfinity held that the solar power portfolio, consisting of three solar plants located in the Viterbo province of the Lazio region and its expected to become operational in the first half of 2024. The solar power plant will generate 191 GWh of clean electricity per year, enough to power 71,000 homes. It will help offset 76,500 tons of CO2 emissions and its equivalent to the amount captured by 3,500 mature trees.

Carlos Domenech, CEO, Enfinity Global, said, “We are very appreciative to partner with a world class leader like Statkraft as we continue to build our current 2.3 GW of solar power plants in Italy. We expect the Italian PPA market to rapidly evolve, bringing efficiencies and energy predictability to customers.”

“This important deal, representing one of the biggest PPA transactions in the country, confirms Statkraft’s positioning as a key player in power purchase agreements markets and the strategic role the company has in facilitating the renewable energy transition” said Gennaro Mathieu D’Annucci, Head of Origination Italy and France at Statkraft.

Enfinity Global owns a 2.3 GW geographically diversified pipeline of projects in Italy, including 430 MW of fully permitted projects that will start construction in the coming months. In December 2022, Enfinity announced the closing of €142 million project financing for the construction of the above mentioned 112 MW portfolio.

Enfinity Global is one of the fastest-growing investors, owners, operators, and developers of renewable energy assets, with an existing global portfolio of over 7 GW of power plants in operation, under construction and in different stages of development in energy markets with strong fundamentals. Earlier this month, Enfinity announced the acquisition of a 400 MW operational utility-scale solar portfolio in the US market, marking an expansion.

Statkraft offers standardised PPA solutions and manages significant market and operational risks connected to the long-term offtake of power from renewable power plants.