Metlen and Acciaieria Arvedi sign 2.4 TWh solar energy deal

Metlen's agreement with Acciaieria Arvedi to supply 2.4 TWh of solar energy marks a significant development in the European renewable energy landscape. As part of the deal, Metlen will develop 170 MW of new solar capacity in Italy over the next three years. The projects will receive a fixed remuneration of 65 €/MWh, guaranteed by the Gestore dei servizi energetici (GSE). This corporate power purchase agreement (PPA) enables Acciaieria Arvedi, a major steel producer, to secure a long-term, stable supply of renewable energy, contributing to its sustainability goals and potentially reducing its exposure to volatile energy prices. The deal is facilitated by the Energy Release 2.0 program, highlighting the growing trend of industrial consumers directly procuring renewable energy. The agreement underscores the increasing importance of PPAs in driving renewable energy development. Metlen's Renewables & Energy Transition Platform will be responsible for the development and construction of the solar projects. The GSE's guarantee of a fixed remuneration provides a level of financial security that is attractive to developers and investors. This deal, part of a larger program that has seen 476 contracts signed for 22.5 TWh, demonstrates the scale of the shift towards renewable energy procurement in Europe. The development of 170 MW of solar capacity will contribute to Italy's renewable energy targets and reduce its reliance on fossil fuels.