Greece's Mytilineos seals Italian solar PPA with Saint-Gobain

• Greek industrial team Mytilineos SA (FRA: MYH) has authorized a deal to offer electrical energy from a 4.9-MW solar park in Italy to power a local factory of French building products manufacturer Compagnie de Saint-Gobain SA (EPA: SGO).

The private cord power purchase agreement (PPA) was signed for ten years, Mytilineos claimed in a bourse filing on Thursday.

Under the contract, the Greek company will certainly mount the photovoltaic (PV) park on the premises of Saint-Gobain's factory in Vidalengo, near Bergamo, to produce greater than 7.5 GWh of green power each year. The plant is because of be turned on in the middle of this year.

With the contract, Saint-Gobain will certainly secure a considerable part of its Vidalengo manufacturing site's electricity intake and also support its efforts to get to carbon neutrality by 2050.

The PPA signing is aligned with Mytilineos' plan to advance into an integrated utility, stated Yiannis Kalafatas, president director of the group's Energy Sector. Previously this month, it sealed a PPA for the generation of 63 MW of solar farms it is integrating in Italy with Norwegian energy team Statkraft A/S. The capability will certainly come from four PV parks scheduled to live throughout 2023 and very first quarter of 2024.

In Italy, Mytilineos possesses 157 MW of projects incomplete and also 2 GW in growth, while hands are in location to include an additional 1GW in 2023.