Mytilineos signs offtake deal for 63 MW of Italian solar with Statkraft

Greek industrial group Mytilineos SA (FRA:MYH) has signed a power purchase agreement (PPA) for the generation of 63 MW of solar farms it is building in Italy with Norwegian energy group Statkraft A/S, the companies said today.

The portfolio includes four solar farms in Emilia Romagna, Lazio and Campania that are scheduled to go live during 2023 and first quarter of 2024.

Nikos Papapetrou, executive director of Mytilineos’ M Renewables, described Statkraft as one of the leading PPA offtakers in Europe and added that “Italy is becoming a mature PPA market with different off-taking options ranging from large international utilities to big and smaller local corporations.”

The solar projects are expected to produce more than 105.8 GWh of electricity per year. Statkraft will use the generation to provide tailor-made green power offerings to industrial and commercial companies, helping them to limit the impact of high power prices and meet climate goals.

Mytilineos currently has 156 MW under construction in Italy, including 127 MW of solar and 31 MW of storage projects under the Fast Reserve Auction. A 62-MW portion of the solar projects has secured a 20-year contract for difference (CfD) with the Italian State-Owned Agency, GSE, at EUR 65.17 (USD 69.7) per MWh and the balance will be backed by the Statkraft PPA.

The Greek company says it also has a 2-GW development portfolio in the country that it plans to expand by 1 GW during 2023.

(EUR 1 = USD 1.070)

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