Danish developer European Energy has signed a more than 12-year power purchase agreement (PPA) with Swiss utility Axpo for the electricity generated by 300MW of future solar PV projects in Italy.
A release from European Energy claimed that the PPA is the first of its kind in Italy involving large-scale solar.
Knud Erik Andersen, CEO of European Energy said: “This agreement is a significant step forward for us in the Italian market. The length and the price of the agreement ensures bankability, which will allow us to realise substantial parts of our Italian project pipeline. We have a great relationship with Axpo and we hope to build on it, both in Italy and other markets where Axpo and European Energy have interests.”
Simone Demarchi, CEO of Axpo Italia, commented: “This is a significant moment for AXPO Italia; we are proud to support and help European Energy delivering their ambitious targets on the Italian market. Solar is the fastest-growing form of energy, and Italy is a market with tremendous potential where we already are seeing great opportunity.”
European Energy has a pipeline of 150MW of ready-to-build projects in Italy.