Iberdrola joins forces with Italian steel giant Acciaierie Venete to provide it with photovoltaic electricity

Iberdrola, a global leader in the renewable energy sector, and Acciaierie Venete Spa, one of the main players in the European steel market, announce the signing of a multi-year Off-site Power Purchase Agreement (PPA) for a capacity of 12MW. 

The agreement provides for the supply of green energy from one of the Iberdrola photovoltaic plants, currently under construction, for a total of 230 GWh over the entire contract period. 

The energy supplied will help reduce annual CO₂ emissions by around 6,960 tonnes. This positive impact is equivalent to the CO₂ absorption of about 64,000 trees and the coverage of the energy needs of about 5,800 households.

“This partnership with Iberdrola is consistent with our commitment to sustainability,” commented Francesco Semino, CSO of Acciaierie Venete Spa, “and should be seen as part of a decarbonisation process that aims to reduce specific CO₂ emissions by more than 50% by 2030″.

“We are proud to be able to contribute to the sustainability goals of Acciaierie Venete, a point of reference in the Italian and European steel sector,” commented Lorenzo Costantini, Sales Director of Iberdrola Italia: “This PPA represents a further step in our strategy aimed at promoting the use of energy from renewable sources among industrial partners, thus supporting the energy security of our country.”

Iberdrola has a long track record of managing long-term power purchase agreements in various global markets, including Spain, UK, Portugal, Germany, USA, Mexico, Brazil and Australia, supported by wind and PV projects.

Iberdrola stands out as a leading Eurpean  player in the fast growing PPA market, with almost 1,000 MW signed in 2023, according to Pexapark’s European PPA Market Outlook 2024. In Italy, the company is investing in industrial decarbonization solutions and renewable energy for the country’s ecological transition and energy security.

With a portfolio of almost 150 projects in continuous development in Italy, Iberdrola will reach 400 MW of installed capacity by 2025, actively contributing to the sustainability and decarbonization goals of the industrial sector also in Italy.