Qualitas Energy has signed a long-term virtual power purchase agreement (vPPA) for 27MW of its solar pipeline in Italy.
Through this contract, software provided Salesforce, will purchase the renewable energy generated by the assets for the next 15 years.
“In order to address the pressing challenge of climate change, virtual purchase power agreements (vPPAs) play a pivotal role in accelerating the transition to renewable energy,” said vice president of portfolio management at Qualitas Energy Carlos Gutierrez.
He added: “Our track record in developing energy sales strategies has facilitated the signing of this VPPA with Salesforce.
“Despite vPPAs’ relative rarity in Italy compared to other EU countries, our approach to innovation empowers us to offer solutions that help customers like Salesforce in achieving their climate goals.”
Alongside the signing of the vPPA, Qualitas Energy announced the closing of a financing transaction totaling approximately €55m.
This covers not only the assets under the vPPA but also additional projects, culminating in a portfolio of 12 solar assets across the country with a total installed capacity of 53MW. Santander Corporate & Investment Banking acted as the sole Mandated Lead Arranger, Green Loan and Sustainability Coordinator, and Hedge provider in this transaction.
Qualitas Energy’s Italian portfolio comprises 26MW connected to the grid, 34MW under construction and a pipeline of 1.4GW under development.