- Falck Renewables’ subsidiary has secured Illumia Trend as the offtaker for its 10.5 MW solar project in Italy
- It is currently under development in Ragusa province and expected to generate 20 GWh annually on completion
- Falck says the PPA has an innovative pricing structure without specifying the same
Italian renewable energy project developer Falck Renewables S.p.A. has secured a power purchase agreement for a 10.5 MW solar power plant in Italy with the electricity and natural gas supplier Illumia Trend, a trading company of local energy and gas supplier Tremagi Group. Falck has entered the agreement through its subsidiary Falck Renewables Sicilia S.r.l.
While the company does not specify the duration of the agreement or the pricing agreed upon under the deal signed with Illumia Trend, Falck says the contract has an innovative pricing structure ‘allowing both companies to balance risks and strategic objectives’.
“With the signing of this long-term Power Purchase Agreement, we initiate a new phase for Falck Renewables in the Italian market where we will add not just new, local, non-subsidized renewable electricity to the system, but also we will enable a sustainable and convenient solution for the sourcing of zero-carbon energy for Illumia customers,” said Falck Renewables CEO Toni Volpe.
The project is currently under development in the province of Ragusa. Falck’s subsidiary Falck Next Energy S.r.l. will dispatch the solar plant on completion when it is expected to generate up to 20 GWh clean power annually.