Sonnedix, the leading global independent solar power producer (IPP) and Statkraft, Europe’s largest generator of renewable energy, have signed a landmark 10-year solar pay-as-produced power purchase agreements (PPA) in Italy.
Under the first four executed PPAs, Sonnedix will supply Statkraft with a combined 36 GWh/year of green electricity over 10-years. This is equivalent to avoiding over 10,000 tons of CO2, capable of powering more than 13,000 Italian homes with clean energy.
The solar PV plants, with a total capacity of 22MWp, are about to start construction and will be located in the centre and north of Italy.
“Our goal is to continue growing sustainably, providing a reliable and cost-efficient source of clean electricity to the communities within which we operate” said Axel Thiemann, CEO of Sonnedix. “This is possible through strong partnerships with like-minded companies, such as Statkraft, with whom we partner in many other markets, to continue pushing the energy transition forward. “
“The deal represents an important milestone for Statkraft in Italy as it positions the company as a key player in the local PPA market” says Simon Kornek, VP South Europe Origination.
Sonnedix has a total capacity of 7GW around the world, including a development pipeline of more than 5GW. Present in Italy since 2010, the company currently has over 1.6GW of utility-scale solar photovoltaic projects in operation, construction, or development stages in the country. Sonnedix continues actively looking for opportunities to further expand its global solar platform across OECD countries, through the acquisition and development of solar PV projects.
Statkraft offers standardised PPA solutions and manages significant market and operational risks connected to the long-term offtake of power from renewable power plants. Furthermore, Statkraft develops, operates, and markets hydropower plants, solar parks and wind farms in numerous European markets, which make it possible to offer industrial and commercial companies tailor-made green power solutions. In this role Statkraft supports its corporate customers by limiting the impact of high near-term power prices on their business, while reducing their carbon footprint and helping them to achieve their sustainability and climate goals.
On this transaction, Sonnedix was advised by Our New Energy (ONE).
Sonnedix Power Holdings Limited (together with its subsidiaries, Sonnedix) is a global solar Independent Power Producer (IPP) with a proven track record in delivering high-performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns, and operates solar power plants globally, with a total capacity of 7GW, including a development pipeline of more than 5GW.
Sonnedix continues to expand its global footprint across OECD countries, with over 400 solar plants in operations, as well as several hundred MW under construction or various development stages in Chile, France, Germany, Italy, Japan, Poland, Spain, USA, and UK.
Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has 4,800 employees in 20 countries.