Milan and Brescia (Italy), 10 of September 2024 – Enfinity Global, a leader in the renewable energy sector, and Feralpi Group, one of the largest steel producers in Europe, have signed a solar power purchase agreement (PPA) for the supply of 23 GWh per year of solar energy in Italy. Under the terms of the ten-year PPA, Feralpi will receive clean energy from a 15.5 MW solar plant owned by Enfinity and located in Emilia Romagna, in the province of Ferrara. The plant is currently under construction, with commissioning expected by the end of 2025.
The energy covered by the agreement will be supplied to Feralpi’s industrial sites in Northern Italy, helping the company avoid approximately 6,210 tons of CO2e emissions each year, equivalent to the emissions of about 2,493 cars in Italy annually. The green energy provided by Enfinity will support Feralpi’s energy transition.
As part of its ESG strategy, the steel group has defined a mix of measures to facilitate its energy and ecological transition toward lower-emission steel. The use of renewable energy is one of these measures. In particular, Feralpi is committed to reducing scope 1, 2, and 3 greenhouse gas emissions, which fall within the core boundary of the sector guidelines for iron and steel, by 50% by 2030, and reducing the remaining scope 3 greenhouse gas emissions by 25% by 2030.
For Enfinity, this agreement represents a new milestone, as it is the company’s first industrial PPA signed in Italy. This allows Enfinity to provide clean energy directly to end-users for the first time and strengthens its market position as one of the leading providers of solar photovoltaic PPAs in the country: Enfinity currently has 388 MW of contracted and under-construction projects, 2 GW of solar plants in the final authorization stage, and 2.8 GW of storage projects in Italy.
“We are proud to support Feralpi in their commitment to sustainability by providing them with reliable and clean energy, and we hope to expand our partnership with new agreements in the future,” said Alice Cajani, Director of Energy Commercialization at Enfinity Global. “This agreement is a strategic milestone for Enfinity Global as it represents our first industrial PPA in Italy, allowing us to deliver clean energy directly to end users,” she added.
“The steel industry is energy-intensive, and for this reason, energy is a crucial lever for accelerating our decarbonization path,” commented Giovanni Pasini, Executive Director of Feralpi Group. “We are electrifying our industrial processes, where possible, to eliminate fossil fuels, and in this technological evolution, the use of renewable sources is a fundamental driver of the transition. The PPA signed with Enfinity allows us to take another significant step forward toward lower-emission steel within our energy strategy.”
Company Profile
Enfinity Global Inc., together with its subsidiaries, is a US-based leading renewable energy and sustainability services company established in 2019. The company owns a portfolio of 24.1 GW of renewable energy and storage projects, including operational assets, under construction, and in different stages of development. With offices across US, Europe, Japan, and India, the company aims to make a significant contribution to a sustainable net zero carbon economy. Enfinity’s leadership team is one of the most experienced global teams in renewables and brings over $37 billion of financing experience in the renewable energy sector with over 15 GW of developed and acquired solar and wind assets. www.enfinity.global / Follow Enfinity Global on LinkedIn
Feralpi Group, with 2.5 million tons of steel produced each year, is among the leading steel producers in Europe (€1.7 billion in revenue in 2023, with over 1,900 direct employees across seven countries). The company specializes in producing steel for both construction and special applications. Feralpi’s mission is not only to produce the best steel but to do so in the most sustainable way possible, respecting people and their diversity, as well as the environment. This involves reducing consumption and emissions by using the best available technologies through technological investments combined with intense innovation and research activities. Visit www.feralpigroup.com / Follow Feralpi Group on LinkedIn.
