MILAN, Oct. 24, 2023 /PRNewswire/ -- The A2A Group, one of Italy's largest players in the energy transition, and Enfinity Global Inc, a leader in renewable energy, today announced the signing of a Power Purchase Agreement (PPA) for three of Enfinity's solar photovoltaic projects in the Lazio region, totaling 97 MW of renewable electricity capacity.
The agreement, set to commence in July 2025, stipulates that A2A will offtake approximately 160 GWh/year of clean energy of the renewable energy produced by the plants, equivalent to the annual electricity consumption of approximately 64.000 families in Italy, offsetting the emission of more than 60.000 tons of CO2 emissions.
With this agreement, Enfinity Global with 232 MW, becomes Italy's largest provider of cumulative contracted capacity through long-term energy sale agreements. In addition, Enfinity Italy has 500 MW of fully permitted solar power plants, 1.8 GW of solar power plants in advanced permitted stages, and 2 GW of storage projects.
Through partnerships such as this, A2A, the nation's second largest player in the renewable energy sector, contributes to further boosting the green energy market, putting at the service of its customers targeted solutions that promote the decarbonization process of the country. With this same objective in mind, the Group has planned significant investments in its Strategic Plan, amounting to 11 billion euros by 2030, in order to equip the territory with the infrastructures necessary for the energy transition.
"We are proud to partner A2A, one of the most respected energy companies in Italy and Europe, with a long and proud history of serving its customers," highlighted Carlos Domenech, CEO of Enfinity Global. "We are thankful for the local support as we have the projects and capabilities to bring stable, clean, and affordable energy to Italy."
"Thanks to our partnership with Enfinity, we are able to make an increasing share of green energy from renewable sources available to our customers, and at the same time we continue to enable investments in plants that can support the path toward energy transition and decarbonization of the country" comments Lorenzo Giussani, Head of Generation and Trading at A2A.
"This agreement with A2A represents a significant milestone towards the execution of our strategic plan and confirms our capacity to bring our projects to maturity with strategic partners," commented Julio Fournier Fisas, CEO for Europe at Enfinity Global. "We are committed to provide 24/7 clean and competitive energy to our customers."
A2A
Listed on the Italian stock exchange, with about 13,000 employees, the Group manages the generation, sale and distribution of energy and sale and distribution of gas, district heating, waste cycle, electric mobility and smart services for cities, public lighting, and integrated water service. Sustainability is at the heart of A2A's industrial strategy, and its Industrial Plan foresees investments of €16 billion to 2030 in projects aligned with the UN Agenda in order to promote the country's sustainable growth and make the energy transition and circular economy concrete realities.
Enfinity Global
Enfinity Global is a US-based leading renewable energy and sustainability services company established in 2018. The company owns a portfolio of 20 GW of renewable energy and storage projects, including operational assets, under construction, and in development. With offices across US, Europe, Japan, and India, the company aims to make a significant contribution to a sustainable net zero carbon economy. Enfinity's leadership team is one of the most experienced global teams in renewables and brings over $37 billion of financing experience in the sector with over 15 GW of developed and acquired solar and wind assets.
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