Iberdrola has signed five long-term power purchase agreements with companies in Italy’s chemicals, manufacturing and food and beverages sectors.
The company said the agreements take its total electricity sold through long-term Clean PPAs in Italy to 5 million megawatt hours.
Iberdrola added that the electricity supplied under the deals will be backed by 90MW of new photovoltaic capacity in Italy.
The PPAs were signed under the Energy Release 2.0 mechanism promoted by Italy’s Ministry of Environment and Energy Security to accelerate deployment of new renewable capacity.
Iberdrola said the agreements will provide industrial companies with a stable and competitive electricity supply while contributing to the decarbonisation of their production processes.
The company added that the transaction strengthens its position as a strategic industrial partner in Italy and supports its strategy to promote industrial electrification and long-term customer relationships.
The company added that the agreements take its total electricity sold through long-term Clean PPAs in Italy to 5 million megawatt hours while supporting its strategy to promote industrial electrification and long-term customer relationships.