ERG, a leading independent producer of energy from renewable sources, announces that its subsidiary ERG Power Generation SpA has signed a financial Power Purchase Agreement (PPA) with Statkraft, the largest renewable energy producer in Europe, with a “pay as produced” profile for a duration of 7 years, starting from 1 January 2027.
The contract provides for the supply of approximately 118 GWh/year of electricity and an equivalent volume of Guarantees of Origin produced by ERG's wind farms in Southern Italy, already built and in operation.
Paolo Merli, CEO of ERG, commented: 'This agreement, concluded with a leading European energy company, allows us to further enhance our revenue stabilization efforts. Thanks to this latest PPA, the Group has exceeded the 3.8 TWh/year contracted energy quota over the last five years.'
Bernardo Ricci Armani, Country Manager Italy at Statkraft, commented: 'We are pleased to have signed this long-term agreement with ERG, one of Italy's leading renewable energy producers. This PPA further strengthens Statkraft's portfolio in the Italian market and reaffirms our commitment to supporting the growth of renewable energy through tailored market solutions for corporate clients. The addition of high-quality wind energy to our portfolio expands our ability to offer flexible and customized energy supply solutions, helping customers achieve their energy supply and sustainability goals while contributing to Italy's energy transition.'
Source: ERG
