Renantis Secures 90-MW Solar PPA with Reden in Italy

Italian renewables developer and power producer Renantis SpA has sealed a power purchase agreement (PPA) for a 90-MW solar project portfolio in its home country owned by France-based Reden.

The 18-year contract will make Renantis the offtaker for the dispatch of the energy produced by 11 of Reden’s photovoltaic (PV) farms, according to a press statement released on Tuesday.

The PPA is tied to solar plants with a planned commissioning in the second half of this year. Five of them are being installed in northern Italy, five will be located in the central parts of the country and one in the southern areas. All of them are constructed on degraded or abandoned land. Once up and running, they will have a combined annual output of about 130 GWh.

The 11 solar parks will form part of a larger complex that will consist of 24 PV sites. The power offtake deal for their output will secure favourable merchant prices for Reden and help it optimise its revenue streams, while offsetting additional costs incurred during the development phase, the French firm said.