Three Contracts for Difference totaling 100 MW have been secured by EDP Renewables (Euronext: EDPR), a prominent player in renewable energy development, from Gestore Servizi Energetici (GSE), the entity overseeing incentives for renewable energy projects in Italy. These contracts mark a significant step forward in Italy’s energy transition, aligning with the nation’s objective of achieving 80 GW of installed capacity by 2030.
Under these agreements, EDPR will supply renewable energy to the Italian grid from three onshore wind projects slated for operation in southern Italy by 2026. By supplying renewable energy to the Italian grid for 20 years, EDPR actively contributes to Italy’s swift transition towards cleaner energy sources, supporting the nation’s ambitious capacity goals for 2030.
CfD auctions play a vital role in facilitating the transition to clean energy by fostering the ongoing development of renewable projects, enhancing competitiveness, and shielding consumers from elevated costs during periods of price volatility.
With the allocation of these 100 MW, EDPR has already secured 57 percent of the capacity target set for the 2023-2026 period.
Roberto Pasqua, Executive Director for South and East Europe at EDP Renewables, underscores the significance of these long-term contracts in driving Italy’s energy transition, stating, “The awarding of these long-term contracts reinforces EDPR’s commitment to accelerating the pace of the energy transition in Italy, a country with ample opportunities for deploying such projects. With an installed capacity of over 0.5 GW, EDPR will continue to work towards achieving Italy’s decarbonization goals and driving benefits such as employment and economic growth.”
Italy remains a pivotal market for EDP Renewables in Europe, with the company’s presence dating back to 2010 and operational activities commencing in 2012. Headquartered in Milan and boasting a workforce of over 60 employees, the company’s projects span across regions renowned for their optimal climatic conditions for clean energy ventures, including Lazio, Campania, Basilicata, Puglia, and Sicily.
These contracts complement the 76 others awarded in the auction, collectively augmenting Italy’s grid with 1 GW of clean energy. The auction concluded with a base price of 77.6 euros/MW.
For more information visit www.edp.com
