Zelestra secures 1.5 TWh in Italy under Energy Release 2.0, including 950 GWh PPA with Burgo Group, supporting new solar capacity development

Zelestra's 1.5 TWh of long-term bilateral contracts in Italy, including a 950 GWh power purchase agreement with Burgo Group, demonstrates the company's ability to secure large-scale corporate PPAs in a competitive market. This deal structure allows Zelestra to support the development of nearly 3 GW of new solar and battery storage capacity in Italy by 2026, while providing Burgo Group with stable and predictable renewable electricity. The 950 GWh PPA with Burgo Group is particularly noteworthy, as it reduces the company's exposure to wholesale market volatility and accelerates its decarbonization efforts. Zelestra's focus on solar, battery energy storage, wind, and hydrogen projects has enabled the company to co-create with leading companies like Burgo Group. The deal's terms, including the 1.5 TWh of long-term bilateral contracts, suggest a high degree of commercial sophistication and a strong understanding of the Italian market. By 2026, Zelestra aims to have developed a significant portfolio of renewable energy assets in Italy, with this deal being a major milestone in that effort. The company's ability to secure large-scale corporate PPAs will be crucial in achieving this goal. Zelestra's counterpart, Burgo Group, is a leading European paper producer that will benefit from the stable and predictable renewable electricity provided by the PPA. As a major industrial consumer, Burgo Group's decision to enter into a large-scale PPA with Zelestra demonstrates the company's commitment to reducing its carbon footprint and managing its energy costs. GSE, the Italian energy regulator, has created an environment that supports the development of renewable energy projects through the Energy Release 2.0 mechanism, which has enabled Zelestra to secure these long-term bilateral contracts. Zelestra's track record in developing renewable energy projects, combined with its ability to secure large-scale corporate PPAs, makes the company a major player in the Italian market. With 3 GW of new solar and battery storage capacity planned for development by 2026, Zelestra is set to become a significant contributor to Italy's renewable energy sector. Burgo Group's decision to partner with Zelestra demonstrates the company's willingness to work with experienced developers to achieve its decarbonization goals.