Recurrent Energy Signs 10-Year PPA with Italian Fashion Group for 80% of Power from 8.05 MWp Pozzolo Solar Plant in Italy

This deal involves Recurrent Energy, a subsidiary of Canadian Solar Inc., executing a 10-year corporate Power Purchase Agreement (PPA) with a prominent Italian fashion group. Under this agreement, the fashion group will procure 80% of the electricity generated by Recurrent Energy's 8.05 MWp Pozzolo solar plant, located in Italy's Piedmont region. The plant, which recently commenced commercial operations, is projected to supply approximately 10,864 MWh of clean electricity annually, contributing to a significant reduction of over 2,500 tons of CO₂ emissions for the fashion group. The PPA is strategically significant for both parties and the broader Italian energy market. For Recurrent Energy, it solidifies its operational presence in Italy, expanding its portfolio to 132 MW across eight solar plants and demonstrating its commitment to the country's decarbonization goals. For the Italian fashion group, it represents a tangible step towards achieving sustainability targets and securing a predictable, long-term green energy source. This transaction highlights the increasing role of corporate PPAs in driving the energy transition, enabling large energy consumers to directly support renewable energy development while managing energy costs and enhancing their environmental credentials.