Plenitude and Ferriera Valsabbia Ink 10-Year Deal for Renewable Wind Energy Supply

Plenitude and Ferriera Valsabbia Ink 10-Year Deal for Renewable Wind Energy Supply

(IN BRIEF) Plenitude has signed a 10-year Corporate Power Purchase Agreement (PPA) with Ferriera Valsabbia to supply energy from a 15MW wind farm in Sannicandro di Bari, Italy. Starting in September 2024, the wind farm will generate over 350 GWh of renewable energy, helping Ferriera Valsabbia to 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 reinforcing steel bars, will significantly reduce its environmental impact through this agreement.

(PRESS RELEASE) MILAN, 2-Aug-2024 — /EuropaWire/ — Eni (BIT: ENI), an Italian multinational energy company with focus on innovation, efficiency and accessibility for all, announces that its Benefit Corporation, Plenitude, has entered into a 10-year Corporate Power Purchase Agreement (PPA) with Ferriera Valsabbia, ensuring the supply of energy generated entirely from renewable sources. This agreement involves the full output of a 15MW wind farm owned by Plenitude, situated in Sannicandro di Bari, Apulia, Italy.

The wind farm is expected to generate over 350 GWh of energy throughout the duration of the agreement, starting in September 2024. This energy will meet the needs of Ferriera Valsabbia’s facilities, aiding the company in its efforts to decarbonize.

Alessandro Della Zoppa, Head of Renewables at Plenitude, emphasized the significance of the agreement, stating, “The agreement with Ferriera Valsabbia demonstrates our commitment to supporting major industrial groups on their path to decarbonization. PPAs are not only a strategic lever for long-term energy price stabilization, but also an essential asset for the energy transition.”

Ruggero Brunori, CEO of Ferriera Valsabbia, highlighted the importance of the partnership, adding, “With this PPA, we are taking a further step towards the decarbonization of our business, confirming the importance of establishing medium to long-term partnerships with common 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 achieve 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 producing reinforcing steel bars for reinforced concrete for seventy years. The company’s finished products, made by melting scrap iron in an electric arc furnace, contain more than 95% recycled material. This agreement further reduces Ferriera Valsabbia’s environmental impact by significantly increasing its use of renewable energy.

Media Contact:

Plenitude:
Press office:
Tel. +39 0287103430
ufficio.stampa@eniplenitude.com

Investor Relations:
Tel. +39 0287103431
investor.relations@eniplenitude.com
Website: https://corporate.eniplenitude.com/

Ferriera Valsabbia:
Communications office
Tel. +39 03658270
comunicazione@ferriera-valsabbia.com
Website: https://www.ferriera-valsabbia.com

SOURCE: Eni