Iberdrola and Acciaierie Venete Sign PPA to Boost Green Energy and Decarbonize Steel Production in Italy

Iberdrola and Acciaierie Venete Sign PPA to Boost Green Energy and Decarbonize Steel Production in Italy

(IN BRIEF) Iberdrola and Acciaierie Venete Spa have signed a multi-year Power Purchase Agreement (PPA) to supply 12MW of green energy from an Iberdrola photovoltaic plant under construction. This partnership will help reduce CO₂ emissions by approximately 6,960 tonnes per year, equivalent to the impact of 64,000 trees or the energy needs of 5,800 households. Both companies underscore the significance of this agreement in advancing sustainability goals, with Iberdrola committed to promoting renewable energy solutions for industrial decarbonization in Italy, contributing to the country’s ecological transition.

(PRESS RELEASE) BILBAO, 8-Nov-2024 — /EuropaWire/ — Iberdrola, a prominent player in renewable energy, and Acciaierie Venete Spa, a major force in the European steel industry, have signed a multi-year Off-site Power Purchase Agreement (PPA) to secure 12MW of renewable energy capacity. Under this agreement, Acciaierie Venete will receive green energy from an Iberdrola photovoltaic plant currently being constructed, totaling 230 GWh of power throughout the contract’s duration.

This green energy supply is projected to cut CO₂ emissions by approximately 6,960 tonnes annually. The environmental impact equates to the carbon absorption of around 64,000 trees or the energy needs of roughly 5,800 homes.

“This collaboration aligns with our sustainability goals,” said Francesco Semino, Chief Sustainability Officer at Acciaierie Venete Spa, emphasizing the company’s commitment to reducing CO₂ emissions by over 50% by 2030 as part of its broader decarbonization strategy.

Lorenzo Costantini, Sales Director of Iberdrola Italia, added, “We are honored to support Acciaierie Venete’s sustainability objectives. This PPA is a meaningful step in advancing the adoption of renewable energy among industrial sectors, reinforcing the energy security of our country.”

Iberdrola is experienced in managing long-term PPAs globally across markets such as Spain, the UK, Portugal, Germany, the USA, and Brazil, supported by a robust portfolio of wind and solar projects. The company emerged as a leading force in Europe’s growing PPA market, with nearly 1,000 MW of agreements in 2023, as highlighted in Pexapark’s European PPA Market Outlook 2024. In Italy, Iberdrola’s commitment to industrial decarbonization and renewable energy is ongoing, with plans to reach 400 MW of installed capacity by 2025 through nearly 150 projects, actively supporting the nation’s ecological transition and energy security.

Media Contact:

Tel: +34 91 784 32 32
comunicacioncorporativa@iberdrola.es

SOURCE: Iberdrola