(Finance) – Edison has signed a long-term Power Purchase Agreement (PPA) with the FERA Group (Fabbrica Energie Rinnovabili Alternative) for the management of the energy produced by a wind farm with an installed capacity of 20 MW, in the province of Savona, in Liguria.
L’agreement, lasting five years, provides for the withdrawal by Edison of all the renewable energy generated (certified by the relevant guarantees of origin), which the Group will manage on the market and resell to its customers interested in a renewable supply contract; while FERA maintains the operational management and maintenance of the asset.
Thanks to the agreement reached, the plant, which is already in operation, does not benefit from the incentive mechanism provided for renewable sources.
According to estimates, the wind farm covered by the agreement has an average production of 55 GWh per year, equivalent to the energy needs of approximately 23 thousand families, capable of avoiding the emission into the atmosphere of over 22 thousand tonnes of CO2 equivalent to year.
“We are closing 2023 as sector leaders, with a portfolio that has significantly strengthened in recent months in the management and sale of renewable energy to its customers. Thanks to agreements like this, on the one hand we support the installation of new renewables and on the other we are able to offer increasingly advanced consumers who are attentive to the impact of their activities growing volumes of green energy, in line with the objectives of decarbonization of final consumption of the energy transition”, he declares Fabio Dubini Executive Vice President Gas&Power Portfolio Management&Optimization of Edison.
“We are satisfied with this agreement between two companies committed to contributing to the decarbonization process through the development and use of renewable energy. The PPA enhances our work in developing renewable sources in Italy, and pushes us to continue on this path, which we have been following for over twenty years. The “Cascinassa” wind farm is the penultimate of the fourteen wind farms built by the FERA Group”, comments Luigi Pennisi, CEO of Aleramo SRLa Group company that owns the wind farm.
In 2023, Edison signed 5 PPAs for a total of 500 GWh per year, made available by photovoltaic and wind plants in Lazio, Sicily, Emilia Romagna and now in Liguria. With the German manager of the KGAL renewable energy fund, KGAL ESPF 4, it signed an agreement in October 2023 for the construction of a photovoltaic system of approximately 150 MW; subsequently, again in October, with a leading international investment fund for an 87 MW plant; while in November two PPAs for a 22 MW wind farm and a 7 MW photovoltaic plant with the Joint Venture between the GR Value group and the partner Swiss Life Asset Managers; and finally, in December 2023 the last PPA signed of the season is with FERA from a 20 MW wind farm.
The negotiation of the contractual terms between the parties involved the Power Origination team for Edison supported by the Legal & Corporate Affairs divisions, while the FERA negotiating team was supported by the lawyer Luigi Costa, Partner of the Dentons Law Firm and by the lawyer Antonio Schiavo, partner of Koinè Society of Lawyers.