FALCK RENEWABLES AND ILLUMIA TOGETHER FOR THE ENERGY TRANSITION WITH A NEW PPA IN THE ITALIAN MARKET
Milan, Italy, February 12, 2021 – Falck Renewables S.p.A. announces the signing of a long-term Power Purchase Agreement (PPA) between its subsidiary Falck Renewables Sicilia S.r.l. – owning a solar project under development in Sicily, Italy – and Illumia Trend, a trading company of the Tremagi Group, Italian energy and gas supplier active throughout the country with about 350,000 customers, including domestic, business and industrial.
The project (10.5 MW) is located in the province of Ragusa. When in operation, the solar plant will generate up to 20 GWh of electricity yearly, that is equivalent to the amount of energy necessary to supply around 7,400 homes. Falck Renewables, through its subsidiary Falck Next Energy S.r.l, will also dispatch the solar plant, enabling a correct match between Illumia‘s required supply profile and the clean energy generated.
The contract, which has a long-term tenor, is characterized by an innovative pricing structure, allowing both companies to balance risks and strategic objectives. Furthermore, long-term PPAs are key enablers of the energy transition, for such contracts strongly facilitate the addition of more renewable capacity in the power market, in line with the national and international goals of fighting climate change.
“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. We are delighted to collaborate with an innovative company that shares with us the vision for a decarbonized future”, commented Toni Volpe, CEO of Falck Renewables.
“Today we can tell our customers that the renewable energy we offer is not only guaranteed but it also contributes to the achievement of the national goals towards the energy transition," says Matteo Carassiti, Partner at Illumia Trend. "We are proud to put to use our risk management skills gained over the years in favor of sustainability."
Falck Renewables S.p.A., listed on the Italian stock exchange in the STAR segment (“FKR.MI”) and included in the FTSE Italia Mid Cap Index, develops, designs, builds and manages power production plants from renewable sources, with an installed capacity of 1,196 MW (1,159 MW according to the IFRS 11 reclassification) in the United Kingdom, Italy, United States, Spain, France, Norway and Sweden, using wind power, solar power, WtE and biomass technologies. The Group is a global player in the renewable energy technical advisory and asset management services business, through its wholly owned subsidiary Vector Cuatro, providing asset management services to clients accounting for approximately 3,000 MW of installed capacity and with experience in more than 40 countries. Moreover, Falck Renewables provides highly specialized energy management and downstream services to both energy producers and consumers, via its Next division.
Visit www.falckrenewables.com and connect with us on LinkedIn and Twitter (@falckrenewables).
Giorgio BOTTA – Investor Relations – Tel. +39 02 2433 3338
Alessandra RUZZU – Media Relations – Tel. + 39 02 2433 2360
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 Calculated based on an average consumption per household of 2,700 kWh/year (Arera - https://www.arera.it/it/dati/ees5.htm).