Milan, 4 of July 2024.- Enfinity Global, a leader in renewable energy, and Nova Aeg, the energy management company of Nova Coop, have signed a corporate Power Purchase Agreement (PPA) for 7.8 MW of solar energy produced by one of Enfinity’s solar power plant under construction in Emilia Romagna.
Thanks to this agreement, Nova Coop’s electricity customers will benefit from 12 GWh of clean energy per year produced by Enfinity, equivalent to the energy consumption of 4,800 Italian households, and avoid over 4,500 tons of CO2 emissions per year.
This agreement with Nova Aeg is the first corporate PPA signed by Enfinity Global in Italy, where the company is one of the largest PPA providers for solar PV with a total of 378 MW signed in the past 18 months. Enfinity currently has 270 MW of projects under construction in Italy, 2 GW of solar power plants in final permitting, and 2.8 GW of storage projects.
PPAs are a cornerstone of Enfinity’s energy commercialization strategy in Italy. The company offers customers cost-competitive and stable energy prices while matching their evolving energy needs and carbon emission targets. At the same time, PPAs are a highly impactful way for Nova Aeg to purchase renewable energy at scale, acting as a catalyst for the supply of green electricity to companies within Nova Coop.
“We are particularly proud of this long-term PPA, as it represents a significant milestone for Enfinity Global and a great example of how we can bring the clean energy we generate in Italy closer to the real economy. We appreciate Nova Aeg’s confidence in this agreement and hope that it will serve as a foundation for further strengthening our partnership in the future,” commented Alice Cajani, Director of Energy Commercialization of Enfinity Global.
“For Nova Aeg, entering into this first long-term PPA represents a willingness to be concrete players in the energy transition. The contractual structure of PPAs is key to converging the needs of our consumer customers with renewable generation. In fact, PPAs, which are based on private initiative, offer customers stabilization of part of their energy supply cost and better management of market risk, as well as encourage investment in new production capacity from renewable sources. We are proud to start this activity, which is strategic for us, alongside an industry leader such as Enfinity, and to lay the groundwork to seize new opportunities together in the future,” explained Marco Sola Titetto, Nova Aeg’s General Manager.
